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Last Updated: April 2, 2026, 3:07 am
Author: Getaka|Social: XLinkedIn

Innovana Thinklabs Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹364.95Fairly Valued by 4.27%vs CMP ₹350.00

P/E (15.5) × ROE (22.9%) × BV (₹126.00) × DY (2.00%)

₹287.67Overvalued by 17.81%vs CMP ₹350.00
MoS: -21.7% (Negative)Confidence: 53/100 (Moderate)Models: 2 Under, 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹428.7723%Under (+22.5%)
Graham NumberEarnings₹253.6817%Over (-27.5%)
Earnings PowerEarnings₹134.2811%Over (-61.6%)
DCFCash Flow₹471.6911%Under (+34.8%)
Net Asset ValueAssets₹125.697%Over (-64.1%)
EV/EBITDAEnterprise₹219.489%Over (-37.3%)
Earnings YieldEarnings₹227.007%Over (-35.1%)
ROCE CapitalReturns₹348.439%Fair (-0.4%)
Revenue MultipleRevenue₹49.796%Over (-85.8%)
Consensus (9 models)₹287.67100%Overvalued
Key Drivers: Wide model spread (₹50–₹472) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 17.5%

*Investments are subject to market risks

Investment Snapshot

75
Innovana Thinklabs Ltd scores 75/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health88/100 · Strong
ROCE 25.6% ExcellentROE 22.9% ExcellentD/E 0.01 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money75/100 · Strong
FII holding up 0.74% (6mo) Slight increaseDII holding up 0.92% MF buyingPromoter holding at 72.7% Stable
Earnings Quality55/100 · Moderate
OPM expanding (42% → 50%) ImprovingWorking capital: 124 days Capital intensive
Quarterly Momentum68/100 · Strong
Revenue (4Q): +28% YoY AcceleratingProfit (4Q): +10% YoY PositiveOPM: 35.1% (down 22.3% YoY) Margin pressure
Industry Rank90/100 · Strong
P/E 15.5 vs industry 98.1 Cheaper than peersROCE 25.6% vs industry 14.9% Above peers3Y sales CAGR: 21% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:07 am

Market Cap 724 Cr.
Current Price 350
Intrinsic Value₹287.67
High / Low 650/292
Stock P/E15.5
Book Value 126
Dividend Yield0.00 %
ROCE25.6 %
ROE22.9 %
Face Value 10.0
PEG Ratio0.89

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Innovana Thinklabs Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Innovana Thinklabs Ltd 724 Cr. 350 650/29215.5 1260.00 %25.6 %22.9 % 10.0
Quick Heal Technologies Ltd 779 Cr. 144 417/125135 82.40.00 %0.24 %0.63 % 10.0
Take Solutions Ltd 598 Cr. 40.4 49.9/7.262,989 1.730.00 %11.2 %644 % 1.00
Xchanging Solutions Ltd 592 Cr. 53.1 105/47.510.2 32.93.76 %15.4 %13.9 % 10.0
Vakrangee Ltd 587 Cr. 5.42 11.6/4.6150.2 1.930.00 %5.86 %3.65 % 1.00
Industry Average17,316.11 Cr418.4898.13120.780.77%14.90%21.00%6.77

All Competitor Stocks of Innovana Thinklabs Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 23.9826.1927.8025.4725.7921.7425.1222.8528.9226.5932.0932.7234.89
Expenses 11.6815.1114.4314.0413.1814.2712.7610.5512.3211.6516.0118.5022.64
Operating Profit 12.3011.0813.3711.4312.617.4712.3612.3016.6014.9416.0814.2212.25
OPM % 51.29%42.31%48.09%44.88%48.89%34.36%49.20%53.83%57.40%56.19%50.11%43.46%35.11%
Other Income 0.491.451.864.234.004.322.674.911.061.732.824.403.48
Interest 0.340.320.350.370.520.570.601.111.301.070.880.951.69
Depreciation 1.021.020.971.001.151.351.252.131.831.952.352.363.09
Profit before tax 11.4311.1913.9114.2914.949.8713.1813.9714.5313.6515.6715.3110.95
Tax % 6.21%10.37%27.17%21.48%23.76%12.06%27.09%26.06%23.68%22.27%21.95%22.66%26.39%
Net Profit 10.729.9610.0211.0911.308.8410.3211.0411.8311.5113.1212.668.97
EPS in Rs 5.234.864.895.415.514.174.955.325.705.566.326.194.63

Last Updated: March 4, 2026, 9:00 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 1:46 pm

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 16314564575879101103126
Expenses 14203140403248564769
Operating Profit 1111424162631455657
OPM % 8%36%31%38%28%45%39%45%54%46%
Other Income 0013447141012
Interest 0000011245
Depreciation 00111344710
Profit before tax 1111426192633535556
Tax % 38%29%24%16%18%18%16%22%25%
Net Profit 181122162127414546
EPS in Rs 7.203.695.2010.617.5910.1413.1219.9821.5322.70
Dividend Payout % 0%0%0%0%8%7%2%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)700.00%37.50%100.00%-27.27%31.25%28.57%51.85%9.76%
Change in YoY Net Profit Growth (%)0.00%-662.50%62.50%-127.27%58.52%-2.68%23.28%-42.10%

Innovana Thinklabs Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2017-2018 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:10%
3 Years:22%
TTM:13%
Compounded Profit Growth
10 Years:%
5 Years:16%
3 Years:31%
TTM:14%
Stock Price CAGR
10 Years:%
5 Years:59%
3 Years:60%
1 Year:6%
Return on Equity
10 Years:%
5 Years:25%
3 Years:25%
Last Year:24%

Last Updated: September 5, 2025, 7:40 am

Balance Sheet

Last Updated: December 4, 2025, 1:26 am

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.204410101020202020
Reserves 1142540567691143185240
Borrowings 201111512234450
Other Liabilities 3124372705748232835
Total Liabilities 63072122137158171209278346
Fixed Assets 191312142827305981
CWIP 40000025124
Investments 022846414139495979
Other Assets 21931648388103124148182
Total Assets 63072122137158171209278346

Reserves and Borrowings Chart

Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 26393714-43035
Cash from Investing Activity + -4-7-30-19-8-14-46-15-19
Cash from Financing Activity + 2706223-516-10
Net Cash Flow -0592485-4816
Free Cash Flow -2-2212018-20-2-1119
CFO/OP 143%54%302%182%115%10%32%21%76%

Free Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-1.0011.0013.0023.0015.0011.0019.0022.0012.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 00001134248103
Inventory Days 0000593
Days Payable 499
Cash Conversion Cycle 00001134248197
Working Capital Days -367-221-277-238-243-6978124
ROCE %100%58%63%31%31%26%32%27%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 73.17%73.17%73.19%73.19%73.23%73.23%73.23%73.23%73.23%73.23%73.22%72.65%
FIIs 0.00%0.00%0.10%0.06%0.13%0.14%0.33%0.14%0.37%0.65%0.84%1.11%
DIIs 0.15%0.10%0.00%0.00%0.00%0.00%0.00%0.00%0.17%0.50%0.82%1.09%
Public 26.67%26.73%26.71%26.75%26.64%26.63%26.43%26.63%26.22%25.61%25.13%25.15%
No. of Shareholders 2842812803284821,0731,1071,4981,9432,1572,6522,669

Shareholding Pattern Chart

No. of Shareholders

Innovana Thinklabs Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 21.8120.1326.1720.4615.48
Diluted EPS (Rs.) 21.8120.1326.1720.4615.48
Cash EPS (Rs.) 23.7922.3915.3023.5816.28
Book Value[Excl.RevalReserv]/Share (Rs.) 100.2279.6654.2584.0364.82
Book Value[Incl.RevalReserv]/Share (Rs.) 100.2279.6654.2584.0364.82
Revenue From Operations / Share (Rs.) 50.4849.1738.6356.1855.22
PBDIT / Share (Rs.) 32.4728.9218.5329.2419.61
PBIT / Share (Rs.) 28.9826.7416.5926.6118.50
PBT / Share (Rs.) 26.9825.8615.9825.6918.40
Net Profit / Share (Rs.) 20.3020.2113.3720.9415.17
NP After MI And SOA / Share (Rs.) 21.5319.9813.1220.9415.17
PBDIT Margin (%) 64.3358.8147.9652.0535.51
PBIT Margin (%) 57.4054.3742.9647.3633.50
PBT Margin (%) 53.4552.5841.3645.7333.32
Net Profit Margin (%) 40.2141.0934.6037.2827.47
NP After MI And SOA Margin (%) 42.6540.6233.9737.2827.47
Return on Networth / Equity (%) 21.4825.0724.1924.9223.40
Return on Capital Employeed (%) 23.8930.3827.6727.4827.90
Return On Assets (%) 15.8619.6215.7013.1111.32
Long Term Debt / Equity (X) 0.000.000.000.020.01
Total Debt / Equity (X) 0.020.040.010.040.01
Asset Turnover Ratio (%) 0.420.530.470.240.31
Current Ratio (X) 2.591.970.781.391.15
Quick Ratio (X) 2.111.470.571.281.05
Inventory Turnover Ratio (X) 7.270.000.000.000.00
Dividend Payout Ratio (NP) (%) 0.001.255.710.000.00
Dividend Payout Ratio (CP) (%) 0.001.124.980.000.00
Earning Retention Ratio (%) 0.0098.7594.290.000.00
Cash Earning Retention Ratio (%) 0.0098.8895.020.000.00
Interest Coverage Ratio (X) 16.3132.8929.9332.02189.87
Interest Coverage Ratio (Post Tax) (X) 11.1923.9822.5923.93147.91
Enterprise Value (Cr.) 604.671111.90634.46417.6154.87
EV / Net Operating Revenue (X) 5.8411.038.017.250.96
EV / EBITDA (X) 9.0818.7516.7013.932.73
MarketCap / Net Operating Revenue (X) 5.8510.988.058.101.79
Retention Ratios (%) 0.0098.7494.280.000.00
Price / BV (X) 2.956.785.735.411.52
Price / Net Operating Revenue (X) 5.8510.988.058.101.79
EarningsYield 0.070.030.040.040.15

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Innovana Thinklabs Ltd. is a Public Limited Listed company incorporated on 13/04/2015 and has its registered office in the State of Rajasthan, India. Company's Corporate Identification Number(CIN) is L72900RJ2015PLC047363 and registration number is 047363. Currently Company is involved in the business activities of Other information technology and computer service activities n.e.c. Company's Total Operating Revenue is Rs. 43.28 Cr. and Equity Capital is Rs. 20.50 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
IT Consulting & SoftwarePlot No. D-41, Patrakar Colony, Near Jawahar Nagar, Jaipur Rajasthan 302004Contact not found
Management
NamePosition Held
Mr. Chandan GargChairman & Managing Director
Mr. Kapil GargWhole Time Director
Ms. Riya SharmaIndependent Director
Mr. Hemant KoushikIndependent Director
Mr. Amritanshu BalaniIndependent Director

FAQ

What is the intrinsic value of Innovana Thinklabs Ltd and is it undervalued?

As of 19 April 2026, Innovana Thinklabs Ltd's intrinsic value is ₹287.67, which is 17.81% lower than the current market price of ₹350.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (22.9 %), book value (₹126), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Innovana Thinklabs Ltd?

Innovana Thinklabs Ltd is trading at ₹350.00 as of 19 April 2026, with a FY2026-2027 high of ₹650 and low of ₹292. The stock is currently near its 52-week low. Market cap stands at ₹724 Cr..

How does Innovana Thinklabs Ltd's P/E ratio compare to its industry?

Innovana Thinklabs Ltd has a P/E ratio of 15.5, which is below the industry average of 98.13. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Innovana Thinklabs Ltd financially healthy?

Key indicators for Innovana Thinklabs Ltd: ROCE of 25.6 % indicates efficient capital utilization; ROE of 22.9 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Innovana Thinklabs Ltd profitable and how is the profit trend?

Innovana Thinklabs Ltd reported a net profit of ₹45 Cr in Mar 2025 on revenue of ₹103 Cr. Compared to ₹21 Cr in Mar 2022, the net profit shows an improving trend.

Does Innovana Thinklabs Ltd pay dividends?

Innovana Thinklabs Ltd has a dividend yield of 0.00 % at the current price of ₹350.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Innovana Thinklabs Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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