SMARTWORKS

Smartworks Coworking Spaces Limited

Managed offices for corporates, GCCs and startups under long-lease model

Services›Services›Commercial Services & Supplies›Diversified Commercial Services

smartworksoffice.com(opens the company website in a new tab)
Ask AI

Key metrics

Price as of 2026-10-16

Stock price
₹466.25
Market cap
5,331 Cr
Stock P/E
191.2
P/B
10.04
ROE (FY26)
2.0%
ROCE (FY26)
51.5%
Operating margin (FY26)
18.1%
Debt / equity (FY26)
0.39
OCF / EBITDA (FY26)
103.6%
OCF / EBITDA (3Y)
107.4%

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.

Loading price history…

Compare with peers

Loading peers…

What you need to know

Smartworks (Smartworks Coworking Spaces) leases and runs managed office centres across Indian cities for large companies, global capability centres (GCCs, the India units of multinationals) and growth firms, on multi-year contracts.

Company snapshot

9thBy market cap

Ranked among 36 companies in Diversified Commercial Services.

What we see

Positives
  • ✓107% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is very thin at 0.6% — little room for error if costs rise.
1 more signal from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricJun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales379 Cr425 Cr472 Cr520 Cr546 Cr
Operating expenses (approx.)138 Cr155 Cr167 Cr181 Cr200 Cr
EBITDA241 Cr270 Cr306 Cr338 Cr346 Cr
OPM %63.6%63.6%64.7%65.1%63.3%
Other income9 Cr16 Cr16 Cr13 Cr13 Cr
Interest81 Cr93 Cr97 Cr95 Cr96 Cr
Depreciation174 Cr198 Cr223 Cr234 Cr246 Cr
Profit before tax-6 Cr-4 Cr2 Cr22 Cr18 Cr
Tax %24.6%28.4%20.4%25.3%25.2%
Net profit-4 Cr-3 Cr1 Cr17 Cr13 Cr
EPS (₹)₹-0.41₹-0.27₹0.11₹1.45₹1.15

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2023Mar 2024Mar 2025Mar 2026TTM
Sales711 Cr1,039 Cr1,374 Cr1,796 CrSign in free for the trailing twelve months
Operating expenses (approx.)287 Cr380 Cr517 Cr641 CrSign in free for the trailing twelve months
EBITDA424 Cr660 Cr857 Cr1,155 CrSign in free for the trailing twelve months
OPM %59.6%63.5%62.4%64.3%Sign in free for the trailing twelve months
Other income33 Cr74 Cr36 Cr54 CrSign in free for the trailing twelve months
Interest237 Cr328 Cr336 Cr366 CrSign in free for the trailing twelve months
Depreciation356 Cr473 Cr636 Cr829 CrSign in free for the trailing twelve months
Profit before tax-136 Cr-68 Cr-79 Cr14 CrSign in free for the trailing twelve months
Tax %25.8%26.1%20.5%24.0%Sign in free for the trailing twelve months
Net profit-101 Cr-50 Cr-63 Cr11 CrSign in free for the trailing twelve months
EPS (₹)₹-10.57₹-5.18₹-6.18₹0.95Sign in free for the trailing twelve months
Dividend payout %———0.0%Sign in free for the trailing twelve months
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

MetricMar 2023Mar 2024Mar 2025Mar 2026
Equity capital78 Cr79 Cr103 Cr114 Cr
Reserves-46 Cr-29 Cr5 Cr416 Cr
Borrowings515 Cr427 Cr398 Cr207 Cr
Other liabilities3,927 Cr3,670 Cr4,145 Cr5,726 Cr
Total liabilities4,474 Cr4,147 Cr4,651 Cr6,464 Cr
Fixed assets (net)829 Cr964 Cr1,138 Cr1,523 Cr
CWIP42 Cr63 Cr135 Cr56 Cr
Investments—11 Cr11 Cr2 Cr
Trade receivables14 Cr14 Cr26 Cr39 Cr
Cash & bank118 Cr39 Cr50 Cr88 Cr
Other assets3,470 Cr3,056 Cr3,291 Cr4,755 Cr
Total assets4,474 Cr4,147 Cr4,651 Cr6,464 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity532 Cr743 Cr929 Cr1,197 Cr
Cash from investing-307 Cr-192 Cr-276 Cr-501 Cr
Cash from financing-171 Cr-577 Cr-638 Cr-621 Cr
Net cash flow55 Cr-26 Cr15 Cr77 Cr
Free cash flow (OCF − Capex)235 Cr480 Cr638 Cr809 Cr

Ratios

MetricMar 2023Mar 2024Mar 2025Mar 2026
ROCE %18.4%54.6%50.8%51.5%
ROE %-321.1%-99.9%-58.6%2.0%
Debtor days7578
Inventory days———0
Days payable48423139
Cash conversion cycle-41-37-24-31
OCF / EBITDA %125.4%112.7%108.3%103.6%
OCF / EBITDA % (3 years)——113.5%107.4%
Debt / equity16.388.553.690.39
Current ratio0.460.280.210.35
Net debt / EBITDA0.940.590.410.10