---
title: "Indiabulls Enterprises (Merged) (IEL) Share Price, Financials & Research"
symbol: "IEL"
company: "Indiabulls Enterprises Ltd"
canonical: "https://tapetide.com/stocks/IEL"
listing_status: "merged"
isin: "INE059901020"
bse_code: "543715"
sector: "Services"
industry: "Commercial Services & Supplies"
generated_at: "2026-11-05T01:59:39.170Z"
---

# Indiabulls Enterprises (Merged) (IEL)

Canonical page: https://tapetide.com/stocks/IEL

**Merged.** This company has merged into another and is no longer traded.

## Key Facts

- **Revenue, Jun 2025 quarter:** ₹10.68 Cr, against ₹13.28 Cr in Jun 2024 (-19.58% year on year)
- **Net profit, Jun 2025 quarter:** -₹3.08 Cr, against -₹5.18 Cr in Jun 2024
- **Promoter holding:** 36.32% in Sep 2025, unchanged from Jun 2025

## Company

- **BSE code:** 543715
- **ISIN:** INE059901020
- **Listing:** Merged
- **Macro sector:** Services
- **Sector:** Services
- **Industry:** Commercial Services & Supplies
- **Basic industry:** Diversified Commercial Services
- **In the F&O segment:** No

## Peer Comparison

Classification: Services › Commercial Services & Supplies › Diversified Commercial Services

| Company | Price | P/E | Market Cap | P/B | Div Yield | ROE | ROCE | Sales TTM | Net Profit TTM |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| [International Gemological Institute Limited (IGIL)](https://tapetide.com/stocks/IGIL) | ₹402.00 | 28.49 | ₹17,550 Cr | 9.92 | 0.63% | 55.80% | 69.20% | ₹1,363 Cr | ₹611 Cr |
| [Wework India Management Ltd (WEWORK)](https://tapetide.com/stocks/WEWORK) | ₹680.50 | 111.74 | ₹9,206 Cr | 27.76 | 0.00% | 27.90% | 12.60% | ₹2,578 Cr | ₹82 Cr |
| [NESCO Ltd (NESCO)](https://tapetide.com/stocks/NESCO) | ₹1,040.40 | 17.60 | ₹7,372 Cr | 2.33 | 0.68% | 14.80% | 18.50% | ₹951 Cr | ₹417 Cr |
| [Indiabulls Limited (IBULLSLTD)](https://tapetide.com/stocks/IBULLSLTD) | ₹31.28 | 16.82 | ₹7,118 Cr | 2.05 | 0.00% | 23.10% | 16.20% | ₹1,101 Cr | ₹488 Cr |
| [Nirlon Ltd (NIRLON)](https://tapetide.com/stocks/NIRLON) | ₹633.50 | 15.99 | ₹5,724 Cr | 12.18 | 4.72% | 83.80% | 30.80% | ₹674 Cr | ₹357 Cr |
| [Leap India Ltd (LEAPIND)](https://tapetide.com/stocks/LEAPIND) | ₹116.45 | 22.39 | ₹5,030 Cr | 3.40 | 0.00% | 9.82% | 9.21% | ₹821 Cr | ₹75 Cr |
| [Indiabulls Enterprises Ltd(Merged) (IEL)](https://tapetide.com/stocks/IEL) (this company) | — | — | — | — | — | -1.18% | 0.51% | ₹47 Cr | — |
| Median of 7 companies | ₹517.75 | 20.00 | ₹7,245 Cr | 6.66 | 0.32% | 23.10% | 16.20% | ₹951 Cr | ₹387 Cr |

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.

## Key Insights

### Strengths

- Stock is trading at 0.78 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- Promoter holding is low: 36.3%
- Company has a low return on equity of -1.97% over last 3 years.
- Earnings include an other income of Rs.10.1 Cr.
- Promoter holding has decreased over last 3 years: -24.7%

## Technical Indicators

As of 27 Oct 2025, the latest day with price data, so these readings are not current.

| Group | Signal | Bearish | Neutral | Bullish |
| --- | --- | ---: | ---: | ---: |
| Overall | Bearish | 9 | 7 | 3 |
| Oscillators | Neutral | 1 | 7 | 1 |
| Moving Averages | Strong Bearish | 8 | 0 | 2 |

### Oscillators: Neutral

| Name | Value | Signal |
| --- | ---: | --- |
| RSI (14) | 46.56 | Neutral |
| MACD (12,26,9) | 0.10 | Bullish |
| Stochastic (14,3,3) | 65.38 | Neutral |
| ADX (14) | 11.64 | Neutral |
| Williams %R (14) | -61.42 | Neutral |
| ATR (14) | 1.04 | Neutral |
| ROC (12) | -2.96 | Bearish |
| Stoch RSI (14) | 44.95 | Neutral |
| UO (7,14,28) | 41.16 | Neutral |

### Moving Averages: Strong Bearish

| Name | Value | Signal |
| --- | ---: | --- |
| SMA (10) | 19.45 | Bearish |
| EMA (10) | 19.62 | Bearish |
| SMA (20) | 19.40 | Bearish |
| EMA (20) | 19.53 | Bearish |
| SMA (50) | 19.33 | Bearish |
| EMA (50) | 19.35 | Bearish |
| SMA (100) | 19.48 | Bearish |
| EMA (100) | 19.09 | Bearish |
| SMA (200) | 18.78 | Bullish |
| EMA (200) | 18.24 | Bullish |

### Pivot Points

| Level | Classic | Fibonacci | Camarilla |
| --- | ---: | ---: | ---: |
| R3 | 24.90 | 23.37 | 20.01 |
| R2 | 23.37 | 21.95 | 19.67 |
| R1 | 21.18 | 21.07 | 19.33 |
| PP | 19.65 | 19.65 | 19.65 |
| S1 | 17.46 | 18.23 | 18.65 |
| S2 | 15.93 | 17.35 | 18.31 |
| S3 | 13.74 | 15.93 | 17.97 |

## Growth Rate

Growth computed from the financial statements below. A window with no rate gives the reason instead of a figure.

| Metric | Window | Growth | What it compares |
| --- | --- | ---: | --- |
| Revenue | 3Y | -19.27% | compounded annual rate, Mar 2022 to Mar 2025 |
| Revenue | 1Y | 5.26% | fiscal year to Mar 2025 vs the year to Mar 2024 |
| Net profit | 3Y | Loss narrowed | compounded annual rate, Mar 2022 to Mar 2025: -₹15.04 Cr to -₹11.96 Cr. A loss at the start, and a smaller one or none at the end. |
| Net profit | 1Y | Loss narrowed | fiscal year to Mar 2025 vs the year to Mar 2024: -₹33.39 Cr to -₹11.96 Cr. A loss at the start, and a smaller one or none at the end. |
| Operating cash flow | 3Y | Turned positive | compounded annual rate, Mar 2022 to Mar 2025: -₹6.81 Cr to ₹5.25 Cr. A cash outflow at the start and an inflow at the end. |
| Operating cash flow | 1Y | -61% | fiscal year to Mar 2025 vs the year to Mar 2024 |
| Operating margin | 3Y | +16.59 pp | compounded annual rate, Mar 2022 to Mar 2025 |
| Operating margin | 1Y | +3.80 pp | fiscal year to Mar 2025 vs the year to Mar 2024 |

Trailing twelve months: The latest quarterly results are more than a year old.

## Financial Statements

### Quarterly Results

Results for the period ended Sep 2025 were due by 14 Nov 2025 and are not in this table yet.

Figures in ₹ crore unless the row name gives another unit.

| Item | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Sales | 20.88 | 26.08 | 14.02 | 13.95 | 11.92 | 9.94 | 13.52 | 11.8 | 13.28 | 12.11 | 12.06 | 12.21 | 10.68 |
| Expenses | 15.35 | 10.02 | 5.85 | 13.53 | 8.36 | 8.23 | 10.67 | 23.43 | 12.22 | 11.85 | 6.17 | 15.3 | 8.46 |
| Operating Profit | 5.53 | 16.06 | 8.17 | 0.42 | 3.56 | 1.71 | 2.85 | -11.63 | 1.06 | 0.26 | 5.89 | -3.09 | 2.22 |
| OPM % | 26.48% | 61.58% | 58.27% | 3.01% | 29.87% | 17.2% | 21.08% | -98.56% | 7.98% | 2.15% | 48.84% | -25.31% | 20.79% |
| Other Income | 1.43 | -1.97 | -3.83 | -375 | -0.19 | 0.26 | 0.23 | -0.01 | 0.22 | 7.18 | 0.02 | 1.72 | 1.21 |
| Interest | 2.25 | 5.49 | 3.79 | 3.55 | 3.73 | 3.9 | 2.41 | 2.59 | 2.65 | 2.66 | 2.58 | 2.66 | 3.1 |
| Depreciation | 4.81 | 4.54 | 4.49 | 4.55 | 4.5 | 4.62 | 4.7 | 4.27 | 3.8 | 3.75 | 3.59 | 3.52 | 3.41 |
| Profit before tax | -0.1 | 4.06 | -3.94 | -383 | -4.86 | -6.55 | -4.03 | -18.52 | -5.17 | 1.03 | -0.26 | -7.55 | -3.08 |
| Tax % | 90% | 53.69% | 0% | -0.5% | 0% | 0% | 0% | -3.08% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | -0.19 | 1.88 | -3.94 | -381 | -4.86 | -6.55 | -4.03 | -17.95 | -5.18 | 1.03 | -0.26 | -7.55 | -3.08 |
| EPS in Rs | — | 0.09 | -0.2 | -19.23 | -0.25 | -0.33 | -0.2 | -0.91 | -0.26 | 0.05 | -0.01 | -0.38 | -0.16 |

### Profit & Loss

Figures in ₹ crore unless the row name gives another unit.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Sales | 0 | 94.4 | 74.91 | 47.18 | 49.66 | 47.06 |
| Expenses | 0 | 91.14 | 44.74 | 39.52 | 39.71 | 41.78 |
| Operating Profit | 0 | 3.26 | 30.17 | 7.66 | 9.95 | 5.28 |
| OPM % | — | 3.45% | 40.27% | 16.24% | 20.04% | 11.22% |
| Other Income | 0 | 14.43 | -380 | -10.9 | 3.3 | 10.13 |
| Interest | 0 | 12.48 | 15.08 | 12.63 | 10.55 | 11 |
| Depreciation | 0 | 19.05 | 18.39 | 18.09 | 14.66 | 14.27 |
| Profit before tax | 0 | -13.84 | -383 | -33.96 | -11.96 | -9.86 |
| Tax % | — | 8.67% | 0.09% | -1.68% | 0% | — |
| Net Profit | 0 | -15.04 | -383 | -33.39 | -11.96 | -9.86 |
| EPS in Rs | — | — | -19.34 | -1.68 | -0.6 | -0.5 |
| Dividend Payout % | — | 0% | 0% | 0% | 0% | — |

### Balance Sheet

Figures in ₹ crore unless the row name gives another unit.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Equity Capital | 0.1 | 39.67 | 39.67 | 39.67 | 39.67 |
| Reserves | -0.02 | 957 | 569 | 536 | 446 |
| Borrowings | 0 | 136 | 122 | 132 | 136 |
| Other Liabilities | 0 | 71.62 | 22.48 | 23.24 | 7.85 |
| Total Liabilities | 0.08 | 1,204 | 754 | 731 | 629 |
| Fixed Assets | 0 | 133 | 107 | 83.49 | 70.18 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.08 | 394 | 515 | 515 | 515 |
| Other Assets | 0 | 677 | 133 | 133 | 44.34 |
| Total Assets | 0.08 | 1,204 | 754 | 731 | 629 |

### Cash Flow

Figures in ₹ crore unless the row name gives another unit.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Cash from Operating Activity | 0 | -6.81 | 243 | 13.46 | 5.25 |
| Cash from Investing Activity | 0.01 | -50.07 | -216 | -9.09 | -1.15 |
| Cash from Financing Activity | 0 | 51.49 | -29.07 | -1.2 | -8.84 |
| Net Cash Flow | 0 | -5.39 | -1.75 | 3.17 | -4.74 |
| Free Cash Flow | 0 | -6.42 | 243 | 6.4 | -4.99 |
| CFO/OP | — | -35 | 792 | 156 | 54 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Debtor Days | — | 248 | 152 | 147 | 113 |
| Cash Conversion Cycle | — | 248 | 152 | 147 | 113 |
| Working Capital Days | — | 1,791 | -74.89 | 739 | 216 |
| ROCE % | — | 2.49% | 2.24% | -1.28% | 0.51% |

## Shareholding Pattern

The latest pattern on file is for Sep 2025; it may not describe the holding today.

### Quarterly Shareholding

Holdings in % of shares; shareholders as a count.

| Holder | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Promoters | 60.97% | 60.97% | 60.97% | 60.97% | 60.97% | 60.97% | 60.97% | 60.97% | 43.88% | 36.32% | 36.32% | 36.32% |
| FIIs | 6.83% | 6.55% | 6.16% | 5.64% | 5.65% | 5.66% | 5.59% | 0.17% | 17.23% | 0.03% | 0.07% | 0.24% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Government | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 31.32% | 31.60% | 31.98% | 32.50% | 32.50% | 32.48% | 32.55% | 37.98% | 38.00% | 62.77% | 62.73% | 62.56% |
| Others | n/m | n/m | n/m | n/m | n/m | n/m | n/m | n/m | n/m | n/m | n/m | n/m |
| No. of Shareholders | 65,500 | 68,270 | 67,092 | 65,781 | 68,370 | 71,953 | 72,356 | 73,385 | 73,994 | 74,256 | 73,438 | 72,389 |

n/m: Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

### Annual Shareholding

Holdings in % of shares; shareholders as a count.

| Holder | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
| --- | ---: | ---: | ---: | ---: |
| Promoters | 60.97% | 60.97% | 36.32% | 36.32% |
| FIIs | 6.55% | 5.66% | 0.03% | 0.24% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% |
| Government | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 31.60% | 32.48% | 62.77% | 62.56% |
| Others | n/m | n/m | n/m | n/m |
| No. of Shareholders | 68,270 | 71,953 | 74,256 | 72,389 |

n/m: Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

## Documents

### Annual reports

| Year | Report |
| --- | --- |
| FY2025 | [Annual report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5dda35f6-42b9-45e2-8e88-92978c49eb5e.pdf) |
| FY2024 | [Annual report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=aa440aa0-7a4d-4685-86c5-0372ceaf712f.pdf) |
| FY2023 | [Annual report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=74d3dafe-ee6a-4437-9f3b-afcd20ff95b1.pdf) |

### Exchange filings

Latest 12 of 19.

| Date | Document | Category |
| --- | --- | --- |
| 14 Oct 2025 | [Announcement under Regulation 30 (LODR)-Scheme of Arrangement](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f1f7269c-72cc-40fd-bff9-11d64c7905ab.pdf) | General announcements |
| 14 Oct 2025 | [Corporate Action-Amalgamation/ Merger / Demerger](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3e8c525a-35fe-4539-a58b-9795592b4e6e.pdf) | General announcements |
| 10 Oct 2025 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b3ad0777-bc36-45b0-8ec0-c3171e7106de.pdf) | General announcements |
| 6 Oct 2025 | [Compliance Status Of Regulation 6(1) And 7(1) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 As Amended For The Quarter Ended September 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=90daca1a-524d-49d5-b324-f4bc1a5bc048.pdf) | General announcements |
| 30 Sep 2025 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=033ddc4a-3d60-430f-9136-121f4c2635f1.pdf) | Intimation |
| 23 Sep 2025 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6f9d6e1c-81bd-4f9d-8629-97216d03ab88.pdf) | Outcome |
| 23 Sep 2025 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fc4bc95d-a040-4d0e-a7e0-a5b44a0297c9.pdf) | Outcome |
| 30 Aug 2025 | [Pronouncement Of Final Order By The HonBle National Company Law Tribunal Chandigarh Bench Approving The Scheme Of Arrangement.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=84a27fc2-8e51-4c53-a783-4e46f1d7cb48.pdf) | General announcements |
| 30 Aug 2025 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0f8feaa5-4851-43ac-b686-3bb99dad372d.pdf) | General announcements |
| 29 Aug 2025 | [Notice Convening 7Th Annual General Meeting Of Shareholders Of Indiabulls Enterprises Limited (The Company) Along With Annual Report For The Financial Year 2024-25](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2691804a-3c12-40b1-ad74-a75d3612810b.pdf) | Intimation |
| 29 Aug 2025 | [Notice Convening 7Th Annual General Meeting Of Shareholders Of Indiabulls Enterprises Limited (The Company) Along With Annual Report For The Financial Year 2024-25](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9efd541d-0efa-4c29-8f1f-c76e672cb116.pdf) | General announcements |
| 29 Aug 2025 | [Submission Of Certificates In Compliance With The Provisions Of Corporate Governance And Non-Disqualification Of Directors As Required Under Regulation 34(3) Read With Schedule-V To The SEBI (Listing Obligations And Disclosure Requirements) Regulations 20](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1c2a0244-b226-4a31-a2c2-fd7c6fd212b5.pdf) | General announcements |

## Frequently Asked Questions about Indiabulls Enterprises

### What does Indiabulls Enterprises Ltd do?

Incorporated in 2019, Indiabulls Enterprises Ltd provides Equipment Renting Services, Management and Maintenance Services, Financing and related activities

### Where is Indiabulls Enterprises Ltd (IEL) listed?

Indiabulls Enterprises Ltd trades under code 543715 on the BSE.

### Which sector does Indiabulls Enterprises Ltd belong to?

Indiabulls Enterprises Ltd is classified under the Services sector, in the Commercial Services & Supplies industry.

## Company Information

Incorporated in 2019, Indiabulls Enterprises Ltd provides Equipment Renting Services, Management and Maintenance Services, Financing and related activities

- **Website:** https://indiabullsenterprises.com/
- **Listed:** 27 Dec 2022
- **Face Value:** ₹2

---

Negative figures use an ASCII hyphen-minus (-) so they parse as numbers. Amounts are in Indian rupees; "Cr" is crore (10 million). Dates are Indian Standard Time.

Financial statements, shareholding and filings are as reported by the company. Price, volume and 52-week levels are market data. Technical indicators are computed by Tapetide from daily prices. The Tapetide Score is Tapetide’s own analysis. Analyst ratings and forecasts are the published estimates of third-party analysts, not company statements. The AI sections are generated text.

For research and information only, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Generated 5 Nov 2026, 07:29 IST.