iValue Infosolutions Limited

Technology — Information Technology Services · NSE

₹227.00−₹1.77 (−0.77%)

DalalBaazaar Score

74 / 100

🟢 Good

Verdict

REASONABLE

Risk

Low

Driven by micro-cap size, which brings thin liquidity.

In simple words: Strong business and financial position, but sales are shrinking. Whether sales start growing again is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:00 pm

Understanding the Business

Company site ↗

The 60-second version of iValue Infosolutions Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

iValue Infosolutions Limited operates as an enterprise technology solutions provider in India and internationally. The company provides digital assets protection and data, network and application management with associated services through channel networks.

IndustryInformation Technology Services

SectorTechnology

Employees285

Annual revenue₹1,056 Cr

How does it make money?

Turns over ₹1,056 Cr a year. Of every ₹100 of sales, about ₹9 reaches shareholders as profit, with ₹14 left at the operating level before interest, tax and depreciation. Each of its 285 employees supports ₹3.70 Cr of revenue a year, the signature of a capital- or asset-led business.

Revenue / employee₹3.70 Cr

Who are its competitors?

The closest listed comparisons in its industry are TATA CONSULTANCY SERV LT, INFOSYS LIMITED, HCL TECHNOLOGIES LTD, WIPRO LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?The numbers suggest a real one

ROCE has stayed above 15% in every year available and stands at 23.8%. Returns that high normally get competed away; when they persist, something is protecting them, and its ROE of 17.3% against a peer median of 32.0% is consistent with that. What that something is — brand, scale, switching costs, regulation — the accounts cannot tell you.

Peer median ROE32.0%

What is the outlook?

2 analysts covering the stock expect revenue to grow about 17.0% and earnings to grow about 23.3% in the year to 2028. These are estimates by people who follow the company, not a forecast for the wider industry.

Est. revenue growth+17.0%

Est. earnings growth+23.3%

Analysts2

What has been driving growth?

Sales and margins have both contributed to where profit is now. Over 3 years revenue moved +32% while net margin moved +24% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+32%

Margin effect+24%

DalalBaazaar Score

74/ 100

Good

Weighted across six categories. Every point is explained below.

✗ Micro Cap: thinner liquidity and sharper drawdowns are normal
✓ Profits have been consistent from year to year

Quality vs. Valuation

Company Quality

76/ 100

Good

How good the business is, ignoring the share price entirely.

Valuation

81/ 100

Cheap

What you are being asked to pay, ignoring how good the business is.

A good business currently available at an undemanding price — the combination this framework is built to look for.

Historical Valuation

Current P/E

12.0x

1.3Y Median

15.2x

15 monthly readings · mean 15.4x · range 12.4x–18.8x

Sector Median

16.5x

median of 4 sector peers

🟢Current valuation is approximately 22% below its 1.3y median of 15.2x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

🟢Against its sector it trades 28% below the peer median of 16.5x.

vs. its own history

Cheap

15.2x median over 15 months · -22%

vs. sector peers

Cheap

16.5x median of 4 peers · -28%

vs. generic bands

Cheap

Below 15x

EV/EBITDA

8.1x

PEG

0.67

What's Good / What's Bad

🟢 What's Going Well6

Margins are improving
EBITDA margin is up from 12.3% to 13.9% over 3 years.
Debt is being paid down
Total debt is down 13% over 3 years.
Cash flow has turned positive
Free cash flow moved from negative to positive over 3 years.
High return on capital employed
ROCE of 23.8% is the mark of a business that converts capital into profit efficiently.
Very low debt
Debt/Equity of 0.12x leaves the balance sheet with plenty of headroom.
Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention1

Return on capital is falling
ROCE has declined from 26.7% to 23.8% — often a sign of competition or overexpansion.

Red Flags

No automated checks triggered

None of the automated financial checks below were triggered on the years of data available. That is not the same as a clean bill of health — see what could not be checked.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Capital compounds at a high rate
ROCE of 23.8% means each rupee reinvested earns well above what capital costs. If the company can keep deploying at this rate, growth creates value rather than just consuming cash.
Margin expansion has further to run
EBITDA margin has risen from 12.3% to 13.9%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.
Priced below its own history
The stock trades 22% below its own median multiple. If the business performs as it has and simply re-rates back to normal, that gap is return on its own.
Cheaper than its peers
It trades 28% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.
Self-funding with balance-sheet headroom
Positive free cash flow of ₹108 Cr alongside low debt means growth, buybacks or dividends need no outside money — and a downturn can be absorbed rather than refinanced.

🔴 Bear CaseWhat could go wrong?

Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above 12%✓ 13.9%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Revenue growth stays above 7% a year✓ 9.8% CAGR
Latest reported year was -21.1%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
3Free cash flow remains positive✓ ₹108 Cr
Profit that never becomes cash eventually stops being profit.
4Debt / EBITDA stays below 2x✓ 0.5x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
5ROCE stays above 21%✓ 23.8%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

10 / 12 checks passed

✓ Strong return on equity (ROE ≥ 15%)
✓ Strong return on capital employed (ROCE ≥ 15%)
✓ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✓ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Analyst consensus isn't majority-sell
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

7 good · 3 neutral · 1 weak

Market Cap

₹1,240 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

12.0x

Cheap

Cheap against the generic band

P/B Ratio

2.18x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹18.99

Profitable

Profitable on a per-share basis

ROE

17.3%

Strong

Strong capital efficiency

ROCE

23.8%

Strong

Earns comfortably above its likely cost of capital

Debt/Equity

0.12x

Low

Conservative leverage

Revenue Growth (YoY)

-21.1%

Shrinking

Sales are contracting

Profit Growth (YoY)

53.4%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

₹108 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

P/E (Forward)

7.7x

Improving

Below the trailing multiple — the street expects earnings to grow into the price

Operating Margin

8.8%

Average

Average margins

Net Margin

10.3%

Good

Strong bottom-line conversion

Current Ratio

1.54

Comfortable

Healthy short-term liquidity

52W Range Position

19%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

227.5 / 246.0

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

52.9

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹797 Cr	₹780 Cr	₹923 Cr	₹1,056 Cr	+9.8%
EBITDA	₹98 Cr	₹118 Cr	₹144 Cr	₹147 Cr	+14.4%
EBITDA Margin	12.3%	15.1%	15.6%	13.9%	—
PAT (Net Profit)	₹60 Cr	₹71 Cr	₹86 Cr	₹98 Cr	+17.9%
EPS	₹11.2	₹13.27	₹15.98	₹17.98	+17.1%
ROE	20.0%	19.1%	18.5%	17.3%	—
ROCE	26.7%	26.9%	25.2%	23.8%	—
Total Debt	₹80 Cr	₹77 Cr	₹70 Cr	₹69 Cr	-4.6%
Free Cash Flow	-₹25 Cr	₹62 Cr	₹45 Cr	₹108 Cr	—

🟢 Revenue has grown at 9.8% a year over 3 years.

🟢 EBITDA has grown at 14.4% a year over 3 years.

🟢 EBITDA Margin has risen from 12.3% to 13.9% over 3 years (+1.6 pts).

🟢 PAT (Net Profit) has grown at 17.9% a year over 3 years.

🟢 EPS has grown at 17.1% a year over 3 years.

🔴 ROE has fallen from 20.0% to 17.3% over 3 years (-2.7 pts).

🔴 ROCE has fallen from 26.7% to 23.8% over 3 years (-2.9 pts).

🟢 Total Debt has shrunk at 4.6% a year over 3 years.

🟢 Free Cash Flow has turned positive, from -₹25 Cr to ₹108 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹1,441 Cr

Total Liabilities

₹874 Cr

Cash & Equivalents

₹120 Cr

Operating Cash Flow

₹108 Cr

Capex

-₹0 Cr

Shareholding (proxy)

Institutional Holding

12.0%

Insider Holding

51.9%

Analyst Consensus

Recommendations

1 Buy · 0 Hold · 0 Sell

Target Price (Mean)

₹394

+73.6% vs CMP

Target Range

₹394 – ₹394

Peer Comparison

Company	P/E	ROE
TATA CONSULTANCY SERV LT	17.3x	45.6%
INFOSYS LIMITED	15.8x	32.0%
HCL TECHNOLOGIES LTD	20.4x	24.6%
WIPRO LTD	14.5x	15.9%

Recent News

1 positive2 mixed3 general

IVALUE INFOSOLUTIONS LTD Share Price - Live NSE: IVALUE Stock Price & Chart

Upstox, 16 Oct

₹376 - That's What Analysts Think iValue Infosolutions Limited (NSE:IVALUE) Is Worth After These Results

Simply Wall Street, 01 JunAnalyst view

🟡Mixed / dependsBroker commentary — an opinion about the price rather than new information about the business.

Creador exits Ivalue Infosolutions; promoter offloads 1.88% stake in Indo Tech Transformers

Moneycontrol.com, 30 Jun

Ivalue Infosolutions Share Price Target 2027, 2028 and 2030: Long Term Analyst Forecast

Univest, 10 AugAnalyst view

🟡Mixed / dependsBroker commentary — an opinion about the price rather than new information about the business.

Ivalue Infosolutions promoter Krishna Raj Sharma buys 35,661 shares

scanx.trade, 06 Oct

ICRA upgrades ratings of iValue Infosolutions to 'A+/A1+' with 'stable' outlook

Business Standard, 24 AugAnalyst view

🟢Potentially positiveAn analyst opinion changing, which moves the price without changing the business.

Watch Items

Revenue growth is negative (-21.1%) on the latest reported period — check if this is one-off or a trend.
Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

StrongBusiness Quality · Financial Health · Growth · Profitability · Valuation

MiddlingRisk

Points for each in the Score ↑

Attractive on both counts

A good business currently available at an undemanding price — the combination this framework exists to look for. The work left is qualitative: whether the advantage the numbers imply is one you can identify and expect to last.

All 5 tripwires holding · see Key things to watch ↑