---
title: "Iware Supplychain Services Ltd (IWARE) — Share Price, Financials & Analysis"
symbol: "IWARE"
company: "Iware Supplychain Services Ltd"
canonical: "https://tapetide.com/stocks/IWARE"
isin: "INE1AII01014"
nse_symbol: "IWARE"
sector: "Logistics & Cargo"
industry: "Logistics Solution Provider"
market_cap_cr: 512.05
generated_at: "2026-09-13T19:29:54.386Z"
---

# Iware Supplychain Services Ltd (IWARE)

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

## Company

- **NSE Symbol:** IWARE
- **ISIN:** INE1AII01014
- **Sector:** Logistics & Cargo
- **Industry:** Logistics Solution Provider
- **Macro Sector:** Services
- **Stock Type:** EQUITY
- **Listed Since:** 2025-05-06
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** iware.co.in

## About

Incorporated in 2018, iWare Supply Chain Services Limited is a Pan-India integrated logistics company providing a wide range of services.[1]

## Latest Price

- **Price:** ₹441.6
- **Change:** -13.9 (-3.05%)
- **Open:** ₹445
- **Day High:** ₹448
- **Day Low:** ₹440.5
- **Previous Close:** ₹455.5
- **Volume:** 10200
- **As Of:** 2026-09-11T10:01:44+00:00

## Key Fundamentals

Observed at 2026-09-11T04:39:55.256815Z.

- **Market Cap:** ₹512.05 Cr
- **Classification:** SME
- **P/E (reported):** 34.8
- **Book Value:** ₹65.95
- **Price to Book:** 6.91
- **Dividend Yield:** 0.22%
- **ROE:** 27.03%
- **ROCE:** 26.7%
- **Debt to Equity:** 1.25
- **Revenue (yearly):** ₹258.4 Cr
- **Net Income:** ₹15.1 Cr
- **EBITDA:** ₹29.8 Cr
- **52-Week High:** ₹539.4
- **52-Week Low:** ₹120
- **RSI (14):** 51.44

## Tapetide Score

- **Score:** 46 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Rising
- **Percentile:** 31.9 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 32.55 | 9% |
| growth | 98.9 | 9% |
| momentum | 96.26 | 12% |
| ownership | 30.08 | 24% |
| quality | 61.4 | 22% |
| valuation | 26.22 | 24% |

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

## Key Insights

### Strengths

- Company has delivered good profit growth of 68.5% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 49.0%

### Weaknesses

- Stock is trading at 8.49 times its book value
- Promoter holding has decreased over last quarter: -5.07%
- Debtor days have increased from 66.2 to 84.9 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -431.66% | -303.29% | -340% |
| ebitda margin growth | -42.58% | -38.01% | -8.93% |
| net income growth | 88.75% | 225% | 68% |
| revenue growth | 200.12% | 81% | 69% |
| roce | -30.92% | -24.02% | 25.25% |
| roe | -45.44% | 42.54% | 0% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2024 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Sales | 30 | 93 | 164 |
| Expenses | 25 | 82 | 147 |
| Operating Profit | 5 | 12 | 17 |
| OPM % | 15 | 13 | 11 |
| Other Income | 0 | 0 | 1 |
| Interest | 1 | 1 | 3 |
| Depreciation | 2 | 2 | 4 |
| Profit before tax | 2 | 9 | 11 |
| Tax % | 25 | 25 | 24 |
| Net Profit | 1 | 6 | 9 |
| EPS in Rs | 1.55 | 6 | 8.05 |

### Profit & Loss

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 19 | 24 | 44 | 59 | 86 | 258 |
| Expenses | 17 | 21 | 37 | 48 | 69 | 228 |
| Operating Profit | 2 | 3 | 6 | 11 | 17 | 29 |
| OPM % | 12 | 13 | 14 | 19 | 20 | 11 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 1 |
| Interest | 1 | 1 | 3 | 3 | 3 | 5 |
| Depreciation | 0 | 1 | 3 | 3 | 4 | 5 |
| Profit before tax | 1 | 1 | 1 | 5 | 11 | 20 |
| Tax % | 27 | 29 | 53 | 22 | 26 | 25 |
| Net Profit | 1 | 1 | 0 | 4 | 8 | 15 |
| EPS in Rs | 1060 | 970 | 420 | 4170 | 10.2 | 14.05 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.01 | 0.01 | 0.01 | 0.01 | 8 | 11 |
| Reserves | 3 | 4 | 4 | 8 | 8 | 45 |
| Borrowings | 18 | 23 | 27 | 25 | 30 | 70 |
| Other Liabilities | 2 | 7 | 8 | 13 | 11 | 34 |
| Total Liabilities | 22 | 34 | 39 | 47 | 57 | 160 |
| Fixed Assets | 12 | 24 | 25 | 22 | 26 | 48 |
| CWIP | 0 | 0 | 0 | 3 | 2 | 12 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 11 | 11 | 14 | 21 | 29 | 100 |
| Total Assets | 22 | 34 | 39 | 47 | 57 | 160 |

### Cash Flow

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -3 | 8 | 2 | 10 | 6 | -20 |
| Cash from Investing Activity | -6 | -13 | -4 | -3 | -6 | -45 |
| Cash from Financing Activity | 8 | 5 | 1 | -5 | 2 | 64 |
| Net Cash Flow | 0 | 0 | 0 | 2 | 2 | -1 |
| Free Cash Flow | -8 | -4 | -2 | 6 | 0 | -57 |
| CFO/OP | -106 | 279 | 45 | 103 | 55 | -50 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 82 | 48 | 69 | 54 | 60 | 85 |
| Cash Conversion Cycle | 82 | 48 | 69 | 54 | 60 | 85 |
| Working Capital Days | 115 | -47 | -17 | -35 | 8 | 24 |
| ROCE % | — | 10 | 13 | 25 | 35 | 28 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- |
| Promoters | 74.08% | 74.09% | 69.01% |
| FIIs | 0% | 0% | 0% |
| DIIs | 0% | 0.48% | 0.44% |
| Government | 0% | 0% | 0% |
| Public | 21.18% | 21.27% | 23.24% |
| Others | 4.74% | 4.17% | 7.32% |
| No. of Shareholders | 822 | 712 | 815 |

## Technical Indicators

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

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

### Moving Averages — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 454.23 | Sell |
| EMA (10) | 453.39 | Sell |
| SMA (20) | 448.32 | Sell |
| EMA (20) | 452.53 | Sell |
| SMA (50) | 456.47 | Sell |
| EMA (50) | 439.29 | Buy |
| SMA (100) | 401.89 | Buy |
| EMA (100) | 400.08 | Buy |
| SMA (200) | 315.68 | Buy |
| EMA (200) | 329 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 46.11 | Neutral |
| MACD (12,26,9) | 1.62 | Buy |
| Stochastic (14,3,3) | 40.09 | Neutral |
| ADX (14) | 17.43 | Neutral |
| Williams %R (14) | -69.91 | Neutral |
| ATR (14) | 17.71 | High Volatility |
| ROC (12) | 1.03 | Buy |
| Stoch RSI (14) | 18.22 | Buy |
| UO (7,14,28) | 56.51 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 Aug - 9th AGM voting results: all six resolutions passed, including Rs.1 final dividend and remuneration revisions. | [Shareholders meeting 8 Aug - 9th AGM voting results: all six resolutions passed, including Rs.1 final dividend and remuneration revisions.](https://nsearchives.nseindia.com/corporate/IWARE_08082026173600_VotingResultsScrutinizerReport.pdf) |
| 7 July 2026 - RTA filed Regulation 74(5) certificate for quarter ended June 30, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 7 July 2026 - RTA filed Regulation 74(5) certificate for quarter ended June 30, 2026.](https://nsearchives.nseindia.com/corporate/IWARE_07072026112407_Iware_74_5__June_2026_Signed.pdf) |
| 7 July 2026 - Iware says Regulation 27(2) corporate governance report not applicable for quarter ended June 30, 2026. | [Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter 7 July 2026 - Iware says Regulation 27(2) corporate governance report not applicable for quarter ended June 30, 2026.](https://nsearchives.nseindia.com/corporate/IWARE_07072026111135_Iware_Non-Appl_CG_June_26_Signed.pdf) |
| 7 Aug - 9th AGM held on 7 Aug 2026; members approved FY26 accounts, Rs1 dividend, and remuneration revisions. | [Shareholders meeting 7 Aug - 9th AGM held on 7 Aug 2026; members approved FY26 accounts, Rs1 dividend, and remuneration revisions.](https://nsearchives.nseindia.com/corporate/IWARE_07082026180938_IwareAGMOutcomeProceeding.pdf) |
| 7 April 2026 - Regulation 74(5) compliance certificate filed for quarter ended March 31, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 7 April 2026 - Regulation 74(5) compliance certificate filed for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/IWARE_07042026154021_discReg74_5_signed.pdf) |
| 7 April 2026 - IWARE says Regulation 27(2) corporate governance report not applicable for quarter ended March 31, 2026. | [Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter 7 April 2026 - IWARE says Regulation 27(2) corporate governance report not applicable for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/IWARE_07042026161349_03nonapplicabilityofcg.pdf) |
| 6 Aug - IWARE signed three transport services agreements with Indpower, Livfast and Livguard for three years from 1 July 2026. | [Bagging/Receiving of orders/contracts 6 Aug - IWARE signed three transport services agreements with Indpower, Livfast and Livguard for three years from 1 July 2026.](https://nsearchives.nseindia.com/corporate/IWARE_06082026171400_IWAREReg30ContractDisclosure060826.pdf) |
| 6 April 2026 - Iware Supplychain Services Limited has informed regarding Disclosure under Regulation 31(4) of SEBI (SAST) Regulations, 2011''. | [Updates 6 April 2026 - Iware Supplychain Services Limited has informed regarding Disclosure under Regulation 31(4) of SEBI (SAST) Regulations, 2011''.](https://nsearchives.nseindia.com/corporate/IWARE_06042026072918_discReg31_4_signed.pdf) |
| 5 May 2026 - Newspaper publication for EGM on 26 May 2026 and remote e-voting instructions. | [Updates 5 May 2026 - Newspaper publication for EGM on 26 May 2026 and remote e-voting instructions.](https://nsearchives.nseindia.com/corporate/IWARE_05052026171543_05Newspaperadvertisementsigned.pdf) |
| 5 May 2026 - Company fixed 19 May 2026 as record date for EGM e-voting entitlement. | [Record Date 5 May 2026 - Company fixed 19 May 2026 as record date for EGM e-voting entitlement.](https://nsearchives.nseindia.com/corporate/IWARE_05052026170632_03Recorddatesigned.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_29832_IWARE_2025_2026_A_3072157_16072026184045.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28156_IWARE_2024_2025_A_2420409_02092025164943.pdf) |

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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 2026-09-13T19:29:54.386Z.