IKIO

IKIO Tech share price & financials

Price
₹162.17
Market cap
₹1.6k Cr
Sector
Consumer Durables
Calls analysed
7
Latest concall · Q1 FY27 · call held 11 Aug 2026

IKIO Tech Q1 FY27

Revenue ₹169 cr +41%EBITDA ₹22 cr +94%EBITDA Margin 13% PAT ₹11 cr +450%

What went well

  • Revenue from operations grew 41% year-on-year to ₹169 crores, driven by continued momentum across diversified business portfolio.
  • EBITDA increased 94% year-on-year to ₹22 crores, with EBITDA margin improving to 13% from 9.4% in Q1 of last year.
  • PAT increased significantly to ₹11 crores from ₹2 crores in the same quarter last year, primarily driven by revenue growth and operating leverage.

What to watch

  • Profitability was impacted by higher raw material prices arising from war-led supply chain disruptions.
  • Higher employee expenses following the revision in minimum labor wages also affected profitability.
Read the full call →

What IKIO Tech does

IKIO Technologies is an Original Design Manufacturer (ODM) that designs, develops and manufactures LED lighting, product-display lighting and allied electronics, which it supplies to other companies for sale under their own brands. Its range spans high-end home and outdoor LED lighting, LED lighting for recreational vehicles (RVs) and commercial-refrigeration display cases, and has diversified into energy products (solar panels and lithium batteries for RVs), rotary switches, fan regulators and, more recently, hearables and wearables (earbuds, neckbands, speakers, smartwatches). Manufacturing is backward-integrated in-house across tool-room, injection moulding, powder coating and CNC machining, and customers have included Philips (Signify), Honeywell India and Forest River, the largest RV maker in the US, alongside a growing base of export clients in the US and Middle East.

Segments

  • LED Lighting Solutions
  • Product Display Lighting
  • Energy Solutions & Others
  • Hearables & Wearables
Manufacturing facilities
5 (4 in Noida, 1 in Haridwar)
Total manufacturing area
~5 lakh sq. ft.
Product SKUs
2,000+
In-house R&D and product design team
~50+ employees
Relevant industry experience
~25 years
Geographic footprint
Operations/subsidiaries across India, USA and UAE (Middle East)
Founded 1999Headquarters New Delhi, India Company website

Guidance record · Q1 FY27

what the last two calls moved 21 tracked 4 delivered 6 missed 11 open
  • FY26 Revenue Growth delivered said Q2 FY26 Promised: 15% Q1 FY27: Historical promise, no new update.
  • FY25 Revenue Growth missed said Q3 FY25 Promised: 12%-14% (Revised down from 20-25%) Q1 FY27: Historical promise, no new update.
  • Block II Commissioning delayed said Q3 FY25 Promised: Couple of quarters after March 2025 Q1 FY27: Block 2 has been partially commercialized in Q2 FY27, a slight delay from the 'end of Q1 FY27' target.

All 21 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 15.9%, net profit up 37.1% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue58 45 38 39 49 −15%44 −2%38 −1%45 +16%
EBITDA5 4 1 2 4 −18%3 −33%2 +61%4 +136%
Net profit7 5 3 3 5 −26%4 −27%3 −9%5 +37%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +7.4% 1Y

₹100₹150₹200Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 10 Nov 2025Q3 FY26 — 2 Feb 2026Q4 FY26 — 4 May 2026Q1 FY27 — 11 Aug 2026

1Y: ₹208.5 on 10 Sept 2025 → ₹223.87. High ₹231.73 (10 Sept 2026), low ₹107.33 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+3.0%
11 Aug
Q4 FY26
+7.7%
4 May
Q3 FY26
−4.3%
2 Feb
Q2 FY26
−2.2%
10 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 17.5% a year over 3 years, FY23 to FY26. Operating margin narrowed to 6.3%.

Year endingFY23FY24FY25FY26
Revenue₹302 Cr₹241 Cr₹208 Cr₹170 Cr
Operating profit₹60 Cr₹29 Cr₹18 Cr₹11 Cr
Operating margin19.8%11.9%8.5%6.3%
Interest₹8 Cr₹6 Cr₹4 Cr₹3 Cr
Depreciation₹5 Cr₹3 Cr₹3 Cr₹3 Cr
Net profit₹39 Cr₹29 Cr₹24 Cr₹15 Cr
Net margin13.0%11.9%11.4%8.7%
ROCE35.0%15.0%7.0%5.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹0 Cr₹25 Cr₹65 Cr₹77 Cr₹77 Cr₹77 Cr
Reserves₹48 Cr₹51 Cr₹36 Cr₹403 Cr₹499 Cr₹418 Cr
Borrowings₹5 Cr₹16 Cr₹25 Cr₹10 Cr₹59 Cr₹1 Cr
Other liabilities₹21 Cr₹20 Cr₹24 Cr₹19 Cr₹93 Cr₹15 Cr
Total liabilities₹74 Cr₹113 Cr₹150 Cr₹509 Cr₹728 Cr₹512 Cr
Fixed assets₹15 Cr₹17 Cr₹18 Cr₹17 Cr₹206 Cr₹14 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹59 Cr₹1 Cr
Investments₹0 Cr₹0 Cr₹13 Cr₹127 Cr₹0 Cr₹265 Cr
Other assets₹59 Cr₹95 Cr₹119 Cr₹364 Cr₹463 Cr₹232 Cr
Total assets₹74 Cr₹113 Cr₹150 Cr₹509 Cr₹728 Cr₹512 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs trimmed −0.81 pp while the public added +0.67 pp. The shareholder count shrank 9% to 94,478.

Promoters
72.5%
FIIs
0.7%
DIIs
0.9%
Public
25.9%

Since Jun 2025

  • DIIs −0.81 pp
  • Public +0.67 pp
  • FIIs +0.09 pp

How it drifted, 12 quarters

Over this window the public went from 16.9% to 25.9% — +9.0 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 72.5%, FIIs 3.2%, DIIs 7.5%, Public 16.9%.Dec '23: Promoters 72.5%, FIIs 1.5%, DIIs 7.1%, Public 18.9%.Mar '24: Promoters 72.5%, FIIs 1.6%, DIIs 5.0%, Public 21.0%.Jun '24: Promoters 72.5%, FIIs 0.7%, DIIs 5.1%, Public 21.7%.Sep '24: Promoters 72.5%, FIIs 0.7%, DIIs 1.7%, Public 25.1%.Dec '24: Promoters 72.5%, FIIs 0.7%, DIIs 1.7%, Public 25.1%.Mar '25: Promoters 72.5%, FIIs 0.6%, DIIs 1.7%, Public 25.2%.Jun '25: Promoters 72.5%, FIIs 0.6%, DIIs 1.7%, Public 25.2%.Sep '25: Promoters 72.5%, FIIs 0.6%, DIIs 1.7%, Public 25.2%.Dec '25: Promoters 72.5%, FIIs 0.6%, DIIs 1.7%, Public 25.2%.Mar '26: Promoters 72.5%, FIIs 0.9%, DIIs 1.2%, Public 25.4%.Jun '26: Promoters 72.5%, FIIs 0.7%, DIIs 0.9%, Public 25.9%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of IKIO Tech above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Hardeep Singh 42.78%unchanged
Surmeet Kaur 29.76%unchanged
Ganesh Srinivasan 1.29%unchanged
Harjeet Singh 0.00%unchanged
Ishween Kaur 0.00%unchanged
HDFC Trustee Company Limited - HDFC Infrastructure —off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in IKIO

Filings to Jul 2026

0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).

Held by funds
₹14 Cr
1 schemes
Biggest holder
HDFC Large and Mid Cap Fund
₹14 Cr · 0.1% of that fund
SchemeHoldingLast month
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹14 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Jul 2026

0 added, 0 trimmed — net 0 shares (+0.0%)

Funds are sitting on
-63%
vs est. average cost
Held by funds
₹14 Cr
1 schemes · ≈ 0.70% of the company

Shares held by these funds −22%

Aug '23 6.82 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹224, this stock must grow earnings at 59% every year for 7 years. Our analysis caps realistic growth at ~-28%. At that growth it is worth ₹3 — downside of 99%.

Growth the price implies
58.6% a year
for 7 years, fading to 4%
It has actually compounded at
-27.8% a year
net profit, FY23–FY26
The gap
0.9 pp
-99% downside if it only repeats history
Price today ₹223.87 Value at the reference growth ₹2.84

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse IKIO Tech

Guides on how to read this kind of business and the numbers that matter.