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Icodex Publishing Solutions

544483 BSE
₹39.49

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MCP
Close 4 Nov 2026 ₹39.49 −13.76 −25.8% 1Y
Start ₹53.25

Key Fundamentals

SMEIT - ServicesInformation Technology

Price-based figures at the close · TTM

ROCE
24.90%
Debt to Equity
0.13
EPS (TTM)
—
Book Value
₹36.01
Market Cap
—
P/E (TTM)
—
P/B
1.10
ROE
18.80%
Dividend Yield
0.00%
EBITDA
₹11.40 Cr
52W High
₹60.30
52W Low
₹29.01

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

54 Average

Data confidence 84/100

Category scores

Quality
75
Strong
Returns, margins, earnings quality 22% weight
Valuation
38
Weak
Cheap vs sector & own history 24% weight
Growth
55
Good
Sales & profit trajectory 9% weight
Financial Health
55
Good
Solvency, leverage, coverage 9% weight
Momentum
55
Average
Trend strength, vol-adjusted 12% weight
Ownership
52
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Stock is trading at 1.06 times its book value
  • Company has delivered good profit growth of 48.2% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 35.3%

Weaknesses

2
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has high debtors of 163 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish577
OscillatorsNeutral171
Moving AveragesStrong Bullish406

Key readings

RSI (14)
54.10
Neutral
MACD (12,26,9)
0.13
Bearish
SMA (50)
37.95
Bullish
SMA (200)
42.58
Bearish

As of

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025.

Revenue

Revenue growth by window
5Y+39.21%
3Y+39.56%
1Y+18.51%

Net profit

Net profit growth by window
5Y+48.25%
3Y+57.64%
1Y−20.87%

Operating cash flow

Operating cash flow growth by window
5Y—
3Y+8.90%
1Y−74.17%

5Y: The statements do not go back far enough for this window.

Operating margin· change in pp

Operating margin growth by window
5Y+21.82 pp
3Y+20.94 pp
1Y−20.23 pp

Trailing twelve months: Results are not reported for each of the last eight quarters, so there is no trailing-twelve-month figure.

Revenue by year

Revenue by year, ₹ crore
Mar 2021₹4.96 Cr
Mar 2022₹8.18 Cr
Mar 2023₹9.54 Cr
Mar 2024₹10.40 Cr
Mar 2025₹21.88 Cr
Mar 2026₹25.93 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2021₹0.99 Cr
Mar 2022₹1.29 Cr
Mar 2023₹1.81 Cr
Mar 2024₹4.40 Cr
Mar 2025₹8.96 Cr
Mar 2026₹7.09 Cr

Half-yearly Results

₹ Cr
544483 half-yearly results, ₹ crore
Particulars Sep 2024Mar 2025Sep 2025Mar 2026
Sales
10.84
11.03
13.89
12.04
Expenses
4.64
3.79
6.14
9.09
Operating Profit
6.2
7.24
7.75
2.95
OPM %
57.2%
65.64%
55.8%
24.5%
Other Income
0.07
0.13
0.13
0.54
Interest
0.08
0.15
0.16
0.2
Depreciation
0.17
0.42
0.37
0.38
PBT
6.02
6.8
7.35
2.91
Tax %
28.24%
31.76%
25.31%
45.36%
Net Profit
4.33
4.63
5.5
1.59
EPS (₹)
3.61
3.78
3.52
1.02

Profit & Loss

₹ Cr
544483 profit and loss, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
4.96
8.18
9.54
10.4
21.88
25.93
Expenses
3.99
6.42
7.59
6.14
8.4
15.2
Operating Profit
0.97
1.76
1.95
4.26
13.48
10.73
OPM %
19.56%
21.52%
20.44%
40.96%
61.61%
41.38%
Other Income
0.23
0.04
0.18
0.59
0.2
0.67
Interest
0.18
0
0.01
0.04
0.27
0.39
Depreciation
0.02
0.14
0.28
0.36
0.59
0.75
PBT
1
1.66
1.84
4.45
12.82
10.26
Tax %
1%
22.29%
1.63%
0.9%
30.11%
30.9%
Net Profit
0.99
1.29
1.81
4.4
8.96
7.09
EPS (₹)
0.82
1.08
1.51
3.67
7.32
4.53
Div. Payout %
0%
0%
0%
0%
0%
0%

Balance Sheet

₹ Cr
544483 balance sheet, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
0
0
0
0
12.24
15.64
Reserves
1.12
2.38
4.19
8.59
6.81
40.67
Borrowings
0
0
0.02
0.88
2.99
7.05
Other Liabilities
1.26
1.46
1.64
1.2
2.72
2.83
Total Liabilities
2.38
3.84
5.85
10.67
24.76
66.19
Fixed Assets
0.27
0.71
0.77
0.62
5.35
6.77
CWIP
0
0
0.53
3.38
8.85
21.47
Investments
0.5
0
0
0
0
0
Other Assets
1.61
3.13
4.55
6.67
10.56
37.95
Total Assets
2.38
3.84
5.85
10.67
24.76
66.19

Cash Flow

₹ Cr
544483 cash flow, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
1.24
1.27
3.81
6.35
1.64
Investing
—
−0.49
−1.1
−3.26
−12.69
−35.5
Financing
—
0
0.01
0.83
3.44
33.87
Net Cash Flow
—
0.75
0.19
1.38
−2.9
0.01
Free Cash Flow
—
0.66
0.4
0.75
−4.45
−13.15
CFO/EBITDA
—
103
80
103
68
53

Ratios

544483 financial ratios, annual
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
65.49
53.55
69.25
48.08
82.41
163
Cash Conversion Cycle
65.49
53.55
69.25
48.08
82.41
163
Working Capital Days
8.09
0.45
21.04
−2.46
23.86
49.55
ROCE %
—
94.86%
56.15%
65.64%
83.08%
24.94%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Icodex Publishing Solutions insights

48 extracted metrics across FY21–FY26.

Shareholding Pattern

As of Sep 2026

  • Promoters 64.44%
  • Public 26.08%
  • Others 9.35%
  • DIIs 0.13%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Icodex Publishing Solutions

What does Icodex Publishing Solutions Ltd do?
Incorporated in 2018, Icodex Publishing Solutions Ltd is in the business of publishing and IT support services
Where is Icodex Publishing Solutions Ltd (ICODEX) listed?
Icodex Publishing Solutions Ltd trades under code 544483 on the BSE.
Which sector does Icodex Publishing Solutions Ltd belong to?
Icodex Publishing Solutions Ltd is classified under the Information Technology sector, in the IT Enabled Services industry.
What is the 52-week high and low of Icodex Publishing Solutions Ltd?
Over the last 52 weeks Icodex Publishing Solutions Ltd has traded between ₹29.01 and ₹60.3 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Icodex Publishing Solutions Ltd?
Icodex Publishing Solutions Ltd reported a return on equity of 18.80%. Its debt-to-equity ratio is 0.13.

Company Information

Incorporated in 2018, Icodex Publishing Solutions Ltd is in the business of publishing and IT support services

Website icodexsolutions.com
Listed 19 Aug 2025
Face Value ₹10

For AI agents and developers

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