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Last Updated: April 2, 2026, 4:49 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 543932 | NSE: IDEAFORGE

Ideaforge Technology Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹166.42Overvalued by 57.55%vs CMP ₹392.00

P/E (15.0) × ROE (10.3%) × BV (₹132.00) × DY (2.00%)

Defaults: P/E=15

₹66.87Overvalued by 82.94%vs CMP ₹392.00
MoS: -486.2% (Negative)Confidence: 55/100 (Moderate)Models: All 4: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹66.2638%Over (-83.1%)
Earnings PowerEarnings₹25.6623%Over (-93.5%)
Net Asset ValueAssets₹131.3623%Over (-66.5%)
Revenue MultipleRevenue₹37.1717%Over (-90.5%)
Consensus (4 models)₹66.87100%Overvalued
Key Drivers: EPS CAGR -60.2% drags value — could be higher if earnings stabilize. | Wide model spread (₹26–₹131) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -60.2% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

42
Ideaforge Technology Ltd scores 42/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health53/100 · Moderate
ROCE 9.7% AverageROE 10.3% AverageD/E 0.84 ModerateInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money30/100 · Weak
FII holding down -1.36% (6mo) SellingPromoter holding at 33.4% Stable
Earnings Quality30/100 · Weak
OPM contracting (37% → -7%) DecliningWorking capital: 403 days Capital intensive
Quarterly Momentum45/100 · Moderate
Revenue (4Q): -56% YoY DecliningOPM: -84.0% (up 15.0% YoY) Margin expansion
Industry Rank45/100 · Moderate
ROCE 9.7% vs industry 14.1% Average3Y sales CAGR: 0% Slow

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, 4:49 am

Market Cap 1,698 Cr.
Current Price 392
Intrinsic Value₹66.87
High / Low 660/301
Stock P/E
Book Value 132
Dividend Yield0.00 %
ROCE9.69 %
ROE10.3 %
Face Value 10.0
PEG Ratio0.00

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

View Share Price Target for Ideaforge Technology Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Ideaforge Technology Ltd 1,698 Cr. 392 660/301 1320.00 %9.69 %10.3 % 10.0
CFF Fluid Control Ltd 1,212 Cr. 578 728/44541.9 1180.17 %22.1 %17.4 % 10.0
Mishra Dhatu Nigam Ltd 5,416 Cr. 289 469/21749.6 76.90.29 %10.6 %8.05 % 10.0
Industry Average2,775.33 Cr419.6745.75108.970.15%14.13%11.92%10.00

All Competitor Stocks of Ideaforge Technology Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 83997249110286371820134132
Expenses 24376932718784533542325258
Operating Profit -16128-820152-16-17-22-19-11-27
OPM % -207%3%29%-33%22%15%3%-43%-99%-108%-149%-28%-84%
Other Income 24415756654433
Interest 1321000100011
Depreciation 3355667778101111
Profit before tax -18-025120142-18-20-26-25-19-36
Tax % -57%1,029%25%33%27%27%25%-24%18%0%-7%1%-6%
Net Profit -8-519115101-14-24-26-24-20-34
EPS in Rs -3.73-2.544.950.213.452.410.27-3.19-5.58-5.97-5.45-4.54-7.83

Last Updated: February 1, 2026, 12:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 11:37 am

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1435159186314161105
Expenses 264585138257213184
Operating Profit -12-11754857-52-79
OPM % -88%-31%47%26%18%-32%-75%
Other Income 22210302114
Interest 12196523
Depreciation 34712212939
Profit before tax -13-14504161-62-106
Tax % 0%1%12%22%26%-0%
Net Profit -13-15443245-62-103
EPS in Rs -1,499.44-1,625.564,862.9814.9910.56-14.46-23.79
Dividend Payout % 0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-15.38%393.33%-27.27%40.62%-237.78%
Change in YoY Net Profit Growth (%)0.00%408.72%-420.61%67.90%-278.40%

Ideaforge Technology Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 5 years from 2020-2021 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: December 4, 2025, 3:04 am

MonthMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.090.090.0921434343
Reserves 6860163303618566526
Borrowings 75116101141643
Other Liabilities 5134363674777
Total Liabilities 80124222488743672689
Fixed Assets 51326496797215
CWIP 17141925541004
Investments 1201112588120123
Other Assets 4697166289533355347
Total Assets 80124222488743672689

Reserves and Borrowings Chart

Cash Flow

MonthMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -16-3167-5376-77
Cash from Investing Activity + 5-7-31-149-102-68
Cash from Financing Activity + 143-11176189-8
Net Cash Flow -11525-26164-152
Free Cash Flow -26-4053-869-164
CFO/OP 130%291%99%-97%171%144%

Free Cash Flow

MonthMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-19.00-62.0059.00-53.0043.00-68.00

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 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 2642504611352127
Inventory Days 532451433639222312
Days Payable 409166853629
Cash Conversion Cycle 756609413667237410
Working Capital Days 723452116203203403
ROCE %-14%48%15%11%-10%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 30.19%29.34%29.33%29.33%29.23%29.23%29.17%29.10%33.36%33.35%
FIIs 2.76%3.46%2.75%2.92%3.50%1.36%1.56%0.60%0.25%0.20%
DIIs 10.15%6.39%3.76%3.40%2.34%2.48%1.52%1.51%1.49%1.49%
Public 56.90%60.80%64.15%64.32%64.92%66.93%67.74%68.81%64.89%64.96%
No. of Shareholders 87,7351,04,7321,44,9201,74,2531,79,9201,78,2111,74,3021,92,7541,89,0281,84,734

Shareholding Pattern Chart

No. of Shareholders

Ideaforge Technology Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Axis Innovation Fund 122,077 0.45 5.04122,0772025-04-22 17:25:110%

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -14.4110.968.5513.84-5.03
Diluted EPS (Rs.) -14.4110.778.1213.13-5.03
Cash EPS (Rs.) -7.6515.4920.555762.92-1241.01
Book Value[Excl.RevalReserv]/Share (Rs.) 141.29154.04152.1612404.276708.99
Book Value[Incl.RevalReserv]/Share (Rs.) 141.29154.04152.1612404.276708.99
Revenue From Operations / Share (Rs.) 37.4273.2287.1717914.493900.90
PBDIT / Share (Rs.) -7.3220.0326.948441.68-1039.44
PBIT / Share (Rs.) -14.1315.0921.397623.26-1441.80
PBT / Share (Rs.) -14.4814.2419.125637.86-1629.66
Net Profit / Share (Rs.) -14.4610.5614.994944.49-1643.37
NP After MI And SOA / Share (Rs.) -14.4610.5614.994944.49-1643.37
PBDIT Margin (%) -19.5527.3530.9047.12-26.64
PBIT Margin (%) -37.7520.6124.5342.55-36.96
PBT Margin (%) -38.7019.4421.9331.47-41.77
Net Profit Margin (%) -38.6314.4117.1927.60-42.12
NP After MI And SOA Margin (%) -38.6314.4117.1927.60-42.12
Return on Networth / Equity (%) -10.236.859.8539.86-24.49
Return on Capital Employeed (%) -9.769.6013.4838.73-12.90
Return On Assets (%) -9.276.096.5519.79-11.81
Long Term Debt / Equity (X) 0.000.000.000.000.63
Total Debt / Equity (X) 0.000.000.260.050.84
Asset Turnover Ratio (%) 0.220.510.000.960.00
Current Ratio (X) 8.638.802.573.043.35
Quick Ratio (X) 6.677.361.872.012.39
Inventory Turnover Ratio (X) 1.671.450.001.420.00
Interest Coverage Ratio (X) -20.6123.5111.894.25-5.53
Interest Coverage Ratio (Post Tax) (X) -39.7013.397.623.49-7.75
Enterprise Value (Cr.) 1395.102675.240.000.000.00
EV / Net Operating Revenue (X) 8.658.520.000.000.00
EV / EBITDA (X) -44.2531.150.000.000.00
MarketCap / Net Operating Revenue (X) 9.259.390.000.000.00
Price / BV (X) 2.454.460.000.000.00
Price / Net Operating Revenue (X) 9.259.390.000.000.00
EarningsYield -0.040.010.000.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

ideaForge Technology Ltd. is a Public Limited Listed company incorporated on 08/02/2007 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L31401MH2007PLC167669 and registration number is 167669. Currently Company is involved in the business activities of Manufacture of radar equipment, gps devices, search, detection, navigation, aeronautical and nautical equipment. Company's Total Operating Revenue is Rs. 165.94 Cr. and Equity Capital is Rs. 43.08 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Aerospace & DefenseEL-146, TTC Industrial Area, Electronic Zone, MIDC, New Mumbai Maharashtra 400710Contact not found
Management
NamePosition Held
Mr. Srikanth VelamakanniChairman & Ind.Director
Mr. Ankit MehtaWholeTime Director & CEO
Mr. Rahul SinghWhole Time Director
Mr. Ashish BhatWhole Time Director
Mr. Ganapathy SubramaniamNon Executive Director
Mr. Mathew CyriacNon Executive Director
Ms. Sutapa BanerjeeIndependent Director
Mr. Vikas BaliaIndependent Director

FAQ

What is the intrinsic value of Ideaforge Technology Ltd and is it undervalued?

As of 10 April 2026, Ideaforge Technology Ltd's intrinsic value is ₹66.87, which is 82.94% lower than the current market price of ₹392.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (10.3 %), book value (₹132), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Ideaforge Technology Ltd?

Ideaforge Technology Ltd is trading at ₹392.00 as of 10 April 2026, with a FY2026-2027 high of ₹660 and low of ₹301. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,698 Cr..

How does Ideaforge Technology Ltd's P/E ratio compare to its industry?

Ideaforge Technology Ltd has a P/E ratio of , which is below the industry average of 45.75. This is broadly in line with or below the industry average.

Is Ideaforge Technology Ltd financially healthy?

Key indicators for Ideaforge Technology Ltd: ROCE of 9.69 % is on the lower side compared to the industry average of 14.13%. Dividend yield is 0.00 %.

Is Ideaforge Technology Ltd profitable and how is the profit trend?

Ideaforge Technology Ltd reported a net profit of ₹-62 Cr in Mar 2025 on revenue of ₹161 Cr. Compared to ₹44 Cr in Mar 2022, the net profit shows a declining trend.

Does Ideaforge Technology Ltd pay dividends?

Ideaforge Technology Ltd has a dividend yield of 0.00 % at the current price of ₹392.00. 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 Ideaforge Technology 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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