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Indiqube Spaces (INDIQUBE)₹185.12−1.10%Diversified Commercial Services
In the Mar 2026 quarter (standalone), Indiqube Spaces reported sales of ₹401 Cr, up 35.1% from Mar 2025, and net profit of −₹23.04 Cr. For the year to Mar 2026, sales were ₹1,451 Cr and net profit −₹106 Cr.
Company filings, standalone accounts; latest reported quarter Mar 2026
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 242 | 252 | 268 | 297 | 309 | 350 | 390 | 401 |
| Expenses | 98.05 | 107 | 110 | 127 | 121 | 142 | 153 | 153 |
| Operating Profit | 144 | 145 | 158 | 170 | 188 | 208 | 237 | 248 |
| OPM % | 59.0% | 57.0% | 59.0% | 57.0% | 61.0% | 59.0% | 61.0% | 62.0% |
| Other Income | 9.01 | 12.01 | 13.01 | 10.01 | 15.01 | 16.01 | 21.02 | 24.03 |
| Interest | 73.80 | 78.80 | 85.79 | 90.70 | 110 | 107 | 112 | 119 |
| Depreciation | 118 | 122 | 117 | 130 | 143 | 156 | 169 | 177 |
| Profit before tax | −39.17 | −44.16 | −33.11 | −41.18 | −50.21 | −39.13 | −23.08 | −24.10 |
| Tax % | 7.0% | 20.1% | −58.0% | −24.0% | −26.0% | −23.0% | −26.0% | −5.0% |
| Net Profit | −42.07 | −53.11 | −14.02 | −31.02 | −37.03 | −30.05 | −17.03 | −23.04 |
| EPS (Rs) | — | — | — | — | −2.00 | −1.41 | −0.80 | −1.06 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 240 | 294 | 344 | 580 | 832 | 1,059 | 1,451 | 1,450 |
| Expenses | 216 | 252 | 214 | 343 | 604 | 443 | 569 | 569 |
| Operating Profit | 23.99 | 41.95 | 130 | 237 | 226 | 617 | 880 | 880 |
| OPM % | 10.0% | 14.0% | 38.0% | 41.0% | 27.0% | 58.0% | 61.0% | 60.7% |
| Other Income | 0.00 | 1.01 | 11.01 | 22.03 | 37.04 | 44.06 | 77.11 | 76.07 |
| Interest | 17.94 | 21.92 | 143 | 188 | 255 | 329 | 447 | 447 |
| Depreciation | 24.97 | 37.01 | 221 | 298 | 392 | 487 | 645 | 645 |
| Profit before tax | −19.08 | −16.06 | −225 | −229 | −386 | −158 | −137 | −137 |
| Tax % | −16.0% | 0.0% | −15.9% | −13.0% | −11.0% | −11.0% | −22.0% | — |
| Exceptional items | 0.00 | −1.99 | 0.00 | 0.99 | 0.00 | 0.00 | 0.00 | — |
| Net Profit | −16.02 | −16.03 | −188 | −198 | −343 | −140 | −106 | −107 |
| EPS (Rs) | — | — | — | — | — | — | −5.00 | −5.27 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.15 | 0.15 | 0.15 | 0.17 | 0.17 | 12.96 | 20.93 |
| Reserves | 65.08 | 49.03 | −139 | −309 | 129 | −23.05 | 494 |
| Borrowings | 121 | 154 | 2,156 | 2,920 | 3,044 | 4,084 | 5,200 |
| Other Liabilities | 264 | 245 | 261 | 350 | 487 | 597 | 786 |
| Total Liabilities | 450 | 448 | 2,278 | 2,961 | 3,659 | 4,671 | 6,500 |
| Fixed Assets | 247 | 237 | 2,000 | 2,537 | 3,075 | 3,940 | 5,198 |
| CWIP | 0.00 | 0.00 | 25.92 | 23.92 | 78.71 | 114 | 95.63 |
| Investments | 2.01 | 2.01 | 2.01 | 1.01 | 1.01 | 0.00 | 0.00 |
| Other Assets | 200 | 208 | 251 | 399 | 505 | 618 | 1,206 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.99 |
| Trade receivables | 12.03 | 21.04 | 25.06 | 33.06 | 59.17 | 79.26 | 113 |
| Cash & equivalents | 3.01 | 3.01 | 0.00 | 9.99 | 0.00 | 6.01 | 385 |
| Total Assets | 450 | 448 | 2,278 | 2,961 | 3,659 | 4,671 | 6,500 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from operating activity | 46.93 | 38.94 | 202 | 324 | 541 | 611 | 919 |
| Cash from investing activity | −105 | −53.14 | −47.15 | −174 | −193 | −260 | −739 |
| Cash from financing activity | 33.91 | 13.97 | −176 | −149 | −364 | −336 | −178 |
| Net cash flow | −23.95 | −0.99 | −20.94 | 0.99 | −14.97 | 14.97 | 5.99 |
| Capex | 103 | 52.90 | 46.92 | 172 | 190 | 257 | 426 |
| Free cash flow | −56.14 | −15.03 | 155 | 152 | 354 | 356 | 495 |
| CFO / OP % | 250.1% | 93.1% | 160.1% | 141.1% | 231.1% | 101.1% | 108.1% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 18 | 26 | 27 | 21 | 26 | 27 | 28 |
| Inventory days | — | — | — | — | — | — | 4 |
| Days payable | — | — | — | — | — | — | 304 |
| Cash conversion cycle | 17 | 25 | 26 | 20 | 25 | 26 | −274 |
| Working capital days | −176 | −167 | −307 | −207 | −200 | −208 | −193 |
| ROCE % | — | 4.0% | −7.0% | −2.0% | −4.0% | 5.0% | 6.0% |
For the Mar 2026 quarter, Indiqube Spaces reported sales of ₹401 Cr, up 35.1% year on year and net profit of −₹23.04 Cr. The operating margin was 62.0%.
Indiqube Spaces' sales for the year to Mar 2026 were ₹1,451 Cr; over the last twelve months they were ₹1,450 Cr.
Net profit for the year to Mar 2026 was −₹106 Cr, and −₹107 Cr over the last twelve months. Earnings per share over the same trailing period were ₹−5.27.
Indiqube Spaces reported borrowings of ₹5,200 Cr at Mar 2026, against cash and equivalents of ₹385 Cr.
Cash from operations was ₹919 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹495 Cr.