INDIQUBE
Indiqube Spaces Limited
Managed workspace provider for SMB and enterprise tenants
Services›Services›Commercial Services & Supplies›Diversified Commercial Services
indiqube.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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What you need to know
IndiQube builds, fits out and runs managed office workspaces in India for companies, with global capability centres (offshore units of multinational firms) its largest client group.
Company snapshot
12thBy market cap
Ranked among 36 companies in Diversified Commercial Services.
What we see
- ✓120% of operating profit came in as cash over the last three years — profits are backed by real cash.
- ✗Net margin is negative — the company is spending more than it earns right now.
Statement tables · Standalone
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Standalone only
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Sales | 309 Cr | 350 Cr | 390 Cr | 401 Cr | 423 Cr |
| Operating expenses (approx.) | 121 Cr | 142 Cr | 153 Cr | 153 Cr | 164 Cr |
| EBITDA | 188 Cr | 208 Cr | 237 Cr | 248 Cr | 258 Cr |
| OPM % | 60.8% | 59.4% | 60.8% | 61.8% | 61.2% |
| Other income | 15 Cr | 16 Cr | 21 Cr | 24 Cr | 26 Cr |
| Interest | 110 Cr | 107 Cr | 112 Cr | 119 Cr | 127 Cr |
| Depreciation | 143 Cr | 156 Cr | 169 Cr | 177 Cr | 188 Cr |
| Profit before tax | -50 Cr | -39 Cr | -23 Cr | -24 Cr | -31 Cr |
| Tax % | 26.4% | 22.8% | 26.1% | 5.2% | 21.7% |
| Net profit | -37 Cr | -30 Cr | -17 Cr | -23 Cr | -24 Cr |
| EPS (₹) | ₹-2.01 | ₹-1.48 | ₹-0.81 | ₹-1.07 | ₹-1.13 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|
| Sales | 580 Cr | 831 Cr | 1,059 Cr | 1,451 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 343 Cr | 604 Cr | 443 Cr | 569 Cr | Sign in free for the trailing twelve months |
| EBITDA | 237 Cr | 226 Cr | 617 Cr | 881 Cr | Sign in free for the trailing twelve months |
| OPM % | 40.8% | 27.3% | 58.2% | 60.7% | Sign in free for the trailing twelve months |
| Other income | 22 Cr | 37 Cr | 44 Cr | 77 Cr | Sign in free for the trailing twelve months |
| Interest | 188 Cr | 256 Cr | 330 Cr | 448 Cr | Sign in free for the trailing twelve months |
| Depreciation | 298 Cr | 392 Cr | 487 Cr | 645 Cr | Sign in free for the trailing twelve months |
| Profit before tax | -228 Cr | -385 Cr | -157 Cr | -136 Cr | Sign in free for the trailing twelve months |
| Tax % | 13.1% | 11.3% | 11.2% | 21.6% | Sign in free for the trailing twelve months |
| Net profit | -198 Cr | -342 Cr | -140 Cr | -106 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹-15.28 | ₹-26.09 | ₹-7.65 | ₹-5.28 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | Sign in free for the trailing twelve months |
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity capital | 0.18 Cr | 0.18 Cr | 13 Cr | 21 Cr |
| Reserves | -308 Cr | 130 Cr | -16 Cr | 494 Cr |
| Borrowings | 623 Cr | 164 Cr | 344 Cr | 290 Cr |
| Other liabilities | 2,654 Cr | 3,373 Cr | 4,344 Cr | 5,707 Cr |
| Total liabilities | 2,969 Cr | 3,668 Cr | 4,685 Cr | 6,511 Cr |
| Fixed assets (net) | 392 Cr | 494 Cr | 648 Cr | 933 Cr |
| CWIP | 21 Cr | 74 Cr | 114 Cr | 96 Cr |
| Investments | 0.96 Cr | 0.96 Cr | — | 0 Cr |
| Inventories | — | — | — | 0.69 Cr |
| Trade receivables | 33 Cr | 59 Cr | 79 Cr | 113 Cr |
| Cash & bank | 10 Cr | 0.37 Cr | 6 Cr | 72 Cr |
| Other assets | 2,511 Cr | 3,039 Cr | 3,838 Cr | 5,297 Cr |
| Total assets | 2,969 Cr | 3,668 Cr | 4,685 Cr | 6,511 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Cash from operating activity | 324 Cr | 542 Cr | 612 Cr | 920 Cr |
| Cash from investing | -174 Cr | -193 Cr | -259 Cr | -737 Cr |
| Cash from financing | -149 Cr | -365 Cr | -337 Cr | -178 Cr |
| Net cash flow | 0.93 Cr | -15 Cr | 15 Cr | 6 Cr |
| Free cash flow (OCF − Capex) | 155 Cr | 359 Cr | 359 Cr | 507 Cr |
Ratios
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| ROCE % | — | -43.7% | — | 38.8% |
| ROE % | — | -261.4% | — | -20.7% |
| Debtor days | 21 | 26 | 27 | 28 |
| Inventory days | — | — | — | 0 |
| Days payable | 17 | 19 | 19 | 20 |
| Cash conversion cycle | 4 | 7 | 8 | 8 |
| OCF / EBITDA % | 136.8% | 239.5% | 99.2% | 104.4% |
| OCF / EBITDA % (3 years) | — | — | 136.9% | 120.3% |
| Debt / equity | — | 1.26 | — | 0.56 |
| Current ratio | 0.26 | 0.27 | 0.26 | 0.62 |
| Net debt / EBITDA | 2.59 | 0.72 | 0.55 | 0.25 |