---
title: "Innovana Thinklabs Ltd (INNOVANA) — Share Price, Financials & Analysis"
symbol: "INNOVANA"
company: "Innovana Thinklabs Ltd"
canonical: "https://tapetide.com/stocks/INNOVANA"
isin: "INE403Y01018"
nse_symbol: "INNOVANA"
bse_code: "544302"
sector: "Information Technology"
industry: "Computer Software & Consulting"
market_cap_cr: 629.92
generated_at: "2026-09-13T19:54:39.146Z"
---

# Innovana Thinklabs Ltd (INNOVANA)

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

## Company

- **NSE Symbol:** INNOVANA
- **BSE Code:** 544302
- **ISIN:** INE403Y01018
- **Sector:** Information Technology
- **Industry:** Computer Software & Consulting
- **Macro Sector:** Information Technology
- **Stock Type:** EQUITY
- **Listed Since:** 2024-12-17
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** innovanathinklabs.com

## About

Incorporated in 2015, Innovana Thinklabs Ltd is in the business of Software development[1]

## Latest Price

- **Price:** ₹327
- **Change:** +17.7 (+5.72%)
- **Open:** ₹310.8
- **Day High:** ₹334
- **Day Low:** ₹300.1
- **Previous Close:** ₹309.3
- **Volume:** 50677
- **As Of:** 2026-09-11T10:01:43+00:00

## Key Fundamentals

Observed at 2026-09-11T04:42:12.957289Z.

- **Market Cap:** ₹629.92 Cr
- **Classification:** Microcap
- **P/E (reported):** 22
- **P/E (TTM):** 21.86
- **EPS (TTM):** ₹14.96
- **Book Value:** ₹131.87
- **Price to Book:** 2.34
- **Dividend Yield:** 0.08%
- **ROE:** 19.71%
- **ROCE:** 23.9%
- **Debt to Equity:** 0.21
- **Revenue (yearly):** ₹132.31 Cr
- **Net Income:** ₹31.25 Cr
- **EBITDA:** ₹45.72 Cr
- **52-Week High:** ₹564.8
- **52-Week Low:** ₹290
- **RSI (14):** 47.66

## Tapetide Score

- **Score:** 53 / 100
- **Score date:** 2026-09-04
- **Archetype:** Out of Favour
- **What it means:** Financially sound, yet the market is not rewarding it. Cases like this usually need a specific reason the pessimism is misplaced, and patience for that reason to play out.
- **Pillar profile:** Quality: Good · Valuation: Fair · Momentum: Falling
- **Percentile:** 61 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 32.49 | 9% |
| growth | 63.37 | 9% |
| momentum | 26.9 | 12% |
| ownership | 60.71 | 24% |
| quality | 65.78 | 22% |
| valuation | 51.11 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Earnings include an other income of Rs.14.2 Cr.
- Debtor days have increased from 90.7 to 121 days.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | — | 687.58% | 130.6% |
| ebitda margin growth | 85.96% | -46.28% | -38.96% | -35.22% |
| net income growth | 205.56% | -24.88% | 15% | 19% |
| revenue growth | 21.31% | 16.16% | 19% | 19% |
| roce | 181% | -21.33% | -13.69% | 27.7% |
| roe | 202.73% | -20.84% | 23.08% | -15.81% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 25.47 | 25.79 | 21.74 | 25.12 | 22.85 | 28.92 | 26.59 | 32.09 | 32.72 | 34.89 | 32.6 | 38.97 |
| Expenses | 14.04 | 13.18 | 14.27 | 12.76 | 10.55 | 12.32 | 11.65 | 16.01 | 18.5 | 22.64 | 29.44 | 32.1 |
| Operating Profit | 11.43 | 12.61 | 7.47 | 12.36 | 12.3 | 16.6 | 14.94 | 16.08 | 14.22 | 12.25 | 3.16 | 6.87 |
| OPM % | 44.88 | 48.89 | 34.36 | 49.2 | 53.83 | 57.4 | 56.19 | 50.11 | 43.46 | 35.11 | 9.69 | 17.63 |
| Other Income | 4.23 | 4 | 4.32 | 2.67 | 4.91 | 1.06 | 1.73 | 2.82 | 4.4 | 3.48 | 2.57 | 3.74 |
| Interest | 0.37 | 0.52 | 0.57 | 0.6 | 1.11 | 1.3 | 1.07 | 0.88 | 0.95 | 1.69 | 1.07 | 1.74 |
| Depreciation | 1 | 1.15 | 1.35 | 1.25 | 2.13 | 1.83 | 1.95 | 2.35 | 2.36 | 3.09 | 2.73 | 2.19 |
| Profit before tax | 14.29 | 14.94 | 9.87 | 13.18 | 13.97 | 14.53 | 13.65 | 15.67 | 15.31 | 10.95 | 1.93 | 6.68 |
| Tax % | 21.48 | 23.76 | 12.06 | 27.09 | 26.06 | 23.68 | 22.27 | 21.95 | 22.66 | 26.39 | 70.98 | 30.99 |
| Net Profit | 11.09 | 11.3 | 8.84 | 10.32 | 11.04 | 11.83 | 11.51 | 13.12 | 12.66 | 8.97 | 1.82 | 5.53 |
| EPS in Rs | 5.41 | 5.51 | 4.17 | 4.95 | 5.32 | 5.7 | 5.56 | 6.32 | 6.19 | 4.63 | 1.42 | 2.72 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 31 | 45 | 64 | 57 | 58 | 79 | 101 | 103 | 132 | 139 |
| Expenses | 20 | 31 | 40 | 40 | 32 | 48 | 56 | 47 | 86 | 103 |
| Operating Profit | 11 | 14 | 24 | 16 | 26 | 31 | 45 | 56 | 46 | 36 |
| OPM % | 36 | 31 | 38 | 28 | 45 | 39 | 45 | 54 | 35 | 26 |
| Other Income | 0 | 1 | 3 | 4 | 4 | 7 | 14 | 10 | 13 | 14 |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 4 | 5 | 5 |
| Depreciation | 0 | 1 | 1 | 1 | 3 | 4 | 4 | 7 | 11 | 10 |
| Profit before tax | 11 | 14 | 26 | 19 | 26 | 33 | 53 | 55 | 44 | 35 |
| Tax % | 29 | 24 | 16 | 18 | 18 | 16 | 22 | 25 | 25 | — |
| Net Profit | 8 | 11 | 22 | 16 | 21 | 27 | 41 | 45 | 37 | 29 |
| EPS in Rs | 3.69 | 5.2 | 10.61 | 7.59 | 10.14 | 13.12 | 19.98 | 21.53 | 18.46 | 14.96 |
| Dividend Payout % | 0 | 0 | 0 | 8 | 7 | 2 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.2 | 4 | 4 | 10 | 10 | 10 | 20 | 20 | 20 | 21 |
| Reserves | 1 | 14 | 25 | 40 | 56 | 76 | 91 | 143 | 185 | 252 |
| Borrowings | 2 | 0 | 1 | 1 | 1 | 15 | 12 | 23 | 44 | 58 |
| Other Liabilities | 3 | 12 | 43 | 72 | 70 | 57 | 48 | 23 | 28 | 33 |
| Total Liabilities | 6 | 30 | 72 | 122 | 137 | 158 | 171 | 209 | 278 | 364 |
| Fixed Assets | 1 | 9 | 13 | 12 | 14 | 28 | 27 | 30 | 59 | 69 |
| CWIP | 4 | 0 | 0 | 0 | 0 | 0 | 2 | 5 | 12 | 20 |
| Investments | 0 | 2 | 28 | 46 | 41 | 41 | 39 | 49 | 59 | 80 |
| Other Assets | 2 | 19 | 31 | 64 | 83 | 88 | 103 | 124 | 148 | 194 |
| Total Assets | 6 | 30 | 72 | 122 | 137 | 158 | 171 | 209 | 278 | 364 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 2 | 6 | 39 | 37 | 15 | -4 | 4 | 0 | 39 | 27 |
| Cash from Investing Activity | -4 | -7 | -30 | -19 | -8 | -14 | -47 | -15 | -23 | -53 |
| Cash from Financing Activity | 2 | 7 | 0 | 6 | 1 | 23 | -5 | 16 | -10 | 25 |
| Net Cash Flow | 0 | 5 | 9 | 24 | 8 | 5 | -48 | 1 | 6 | -1 |
| Free Cash Flow | -2 | -2 | 21 | 19 | 19 | -20 | 0 | -11 | 23 | 14 |
| CFO/OP | 143 | 54 | 302 | 182 | 122 | 10 | 38 | 21 | 88 | 84 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 0 | 0 | 0 | 0 | 1 | 13 | 42 | 48 | 103 | 121 |
| Inventory Days | 0 | 0 | 0 | 0 | 172 | — | — | — | — | — |
| Days Payable | — | — | — | — | 589 | — | — | — | — | — |
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | -415 | 13 | 42 | 48 | 103 | 121 |
| Working Capital Days | -36 | 7 | -221 | -277 | -244 | -243 | -69 | 78 | 124 | 109 |
| ROCE % | — | 100 | 58 | 63 | 31 | 31 | 26 | 32 | 26 | 16 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 73.19% | 73.19% | 73.23% | 73.23% | 73.23% | 73.23% | 73.23% | 73.23% | 73.22% | 72.65% | 72.65% | 72.65% |
| FIIs | 0% | 0% | 0% | 0.14% | 0% | 0.14% | 0.37% | 0.65% | 0.84% | 1.11% | 1.18% | 1.04% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0.17% | 0.5% | 0.82% | 1.09% | 1.09% | 1.52% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 10.56% | 13.09% | 13.62% | 14.93% | 14.76% | 14.88% | 13.83% | 13.76% | 13.58% | 14.04% | 13.79% | 14.01% |
| Others | 16.25% | 13.72% | 13.15% | 11.7% | 12.01% | 11.75% | 12.39% | 11.85% | 11.54% | 11.1% | 11.29% | 10.77% |
| No. of Shareholders | 280 | 328 | 482 | 1157 | 1107 | 1150 | 1943 | 2157 | 2652 | 2669 | 2624 | 2889 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 8 / 5 / 6

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 305.78 | Buy |
| EMA (10) | 309.72 | Buy |
| SMA (20) | 309.23 | Buy |
| EMA (20) | 311.48 | Buy |
| SMA (50) | 320.46 | Buy |
| EMA (50) | 319.61 | Buy |
| SMA (100) | 335.21 | Sell |
| EMA (100) | 334.79 | Sell |
| SMA (200) | 365.74 | Sell |
| EMA (200) | 358.99 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 58.83 | Neutral |
| MACD (12,26,9) | -3.37 | Buy |
| Stochastic (14,3,3) | 48.64 | Neutral |
| ADX (14) | 11.71 | Neutral |
| Williams %R (14) | -16.3 | Sell |
| ATR (14) | 17.57 | High Volatility |
| ROC (12) | 3.19 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 42.71 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-05 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=95b8d345-c947-4700-8d32-a555fad22109.pdf) |
| 2026-09-04 | [Notice Convening The 11Th Annual General Meeting And Annual Report Of The Company For The F.Y 2025-26](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2ec390e0-676c-43ce-9015-8217faa96b37.pdf) |
| 2026-09-04 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a1c17f08-c9d5-4111-a6d5-58c0ac3ea752.pdf) |
| 2026-09-03 | [Board Meeting Outcome for Meeting Held On Thursday September 03 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=845047f3-8441-4573-838a-b336390b436b.pdf) |
| 2026-08-14 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8453fa7a-3094-43ae-a85c-e9eb8b393ee1.pdf) |
| 2026-08-13 | [Board Meeting Outcome for Meeting Held On August 13 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3d2a031e-88ba-472b-b2c5-0b17d819a461.pdf) |
| 2026-08-13 | [Statement Of Deviation Or Variation In The Use Of Proceeds Of Allotment Of Warrants On Preferential Basis](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2f79fe4b-b8d4-4108-bb39-c4beb5567af7.pdf) |
| 2026-08-05 | [Board Meeting Intimation for Meeting To Be Held On August 132026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4265b571-2a57-49f1-9b6d-a2a75868b2e7.pdf) |
| 2026-07-21 | [Announcement under Regulation 30 (LODR)-Acquisition](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cc42cfce-7712-4002-a0ca-dc1c6bdfa99b.pdf) |
| 2026-07-06 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5e490b45-9156-4d38-9bfc-bd810299221d.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-13 | [Un-Audited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended On June 302026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b447d6ea-ebbb-4816-aafb-ed2b1d7e5dd5.pdf) |
| 2026-05-20 | [Audited Standalone And Consolidated Financial Results Of The Company For The Quarter And Financial Year Ended On March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5bd9cd6f-5095-47f2-ac3c-5f677d687be9.pdf) |
| 2026-02-13 | [Financial Results For The Quarter And Nine Months Ended 31.12.2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4e780e8a-75e1-4983-b1f2-fcdd2d3efa57.pdf) |
| 2025-11-14 | [Financial Results For The Quarter Ended September 30 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3de907ba-9a16-45fa-b86d-8384f3d27d7b.pdf) |
| 2025-08-13 | [Declaration Of Unaudited Financial Results For The Quarter Ended June 30 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4e640367-58c8-4b4f-9d83-fae6ff8898d8.pdf) |
| 2025-05-29 | [Audited Standalone And Consolidated Financial Results Of The Company For The Quarter And Financial Year Ended On March 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=10ed11b9-241d-4db6-8893-08518797f7d0.pdf) |
| 2025-02-12 | [Unaudited Standalone And Consolidated Financial Results For The Quarter And Nine Months Ended On December 31 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1f51e3b7-481b-4d8f-b968-64f2b3c29337.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 6 Apr - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 6 Apr - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4256e5ca-c470-47ad-ac69-31b32d081109.pdf) |
| 5 Mar - Newspaper Publication for Notice of Postal Ballot published in Business Remedies (in Hindi and English) on March 05, 2026. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 5 Mar - Newspaper Publication for Notice of Postal Ballot published in Business Remedies (in Hindi and English) on March 05, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/be917d91-7755-4bf0-832f-804b6032b8d0.pdf) |
| 3 Mar - Postal ballot (sent Mar 3) to approve Rs.200 Cr borrowings, charges, loans/guarantees and Section 186 enhancement; e-vote Mar4–Apr2. | [Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 3 Mar - Postal ballot (sent Mar 3) to approve Rs.200 Cr borrowings, charges, loans/guarantees and Section 186 enhancement; e-vote Mar4–Apr2.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/df2ace3d-19bf-4973-8110-4b148168e326.pdf) |
| 3 Apr - Postal ballot resolutions passed on April 3, 2026 to raise borrowing, create charges, give guarantees and enhance limits. | [Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 3 Apr - Postal ballot resolutions passed on April 3, 2026 to raise borrowing, create charges, give guarantees and enhance limits.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a5f0126b-ebf3-495d-a235-bdc33974a599.pdf) |
| 14 Feb - Newspaper Publication of the Financial Results for the Quarter and nine Months ended 31.12.2025 | [Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Feb - Newspaper Publication of the Financial Results for the Quarter and nine Months ended 31.12.2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c90a732c-aa61-499b-bd3e-42355f149516.pdf) |
| 13 Feb - No deviation in utilisation of proceeds from preferential issue of 8,60,000 warrants; Rs14,43,85,000 received by 31-12-2025. | [Reg. 32 (1), (3) - Statement Of Deviation & Variation 13 Feb - No deviation in utilisation of proceeds from preferential issue of 8,60,000 warrants; Rs14,43,85,000 received by 31-12-2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/15b77cb9-4c8e-4017-b760-5d6c8516eba9.pdf) |
| — | [Closure of Trading Window 27 Mar](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d6984b84-7be1-4f22-9839-4b5446b4cc6e.pdf) |
| — | [Financial Results For The Quarter And Nine Months Ended 31.12.2025 13 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4e780e8a-75e1-4983-b1f2-fcdd2d3efa57.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26049_INNOVANA_2023_2024_06092024192916.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23643_INNOVANA_2022_2023_06092023165128_09062023170014.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_21462_INNOVANA_2021_2022_06092022143223_09062022150009.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_19187_INNOVANA_2020_2021_02092021163501_09022021170007.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_17638_INNOVANA_2019_2020_08092020172021_08092020180007.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_16115_INNOVANA_2018_2019_30092019162143_30092019170002.zip) |
| from nse | [Annual Report 2018 from nse](https://archives.nseindia.com/annual_reports/SME_AR_13543_INNOVANA_2017_2018_24092018144108.zip) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/981521e3-dd2e-4d0b-9596-5bbf4e5708ce.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:54:39.146Z.