ICODEX share price, P/E, ROE & financials

As of 6 Nov 2026, Icodex Publishing Solutions trades at 8.0× trailing earnings, below the industry P/E of 27.7×, and the shares are 35% below their 52-week high. It earns ROCE of 19% and ROE of 19%, and sales and net profit grew 40% and 58% a year over 3 years. Debt is 0.13× equity. It is listed on an SME platform with a market cap of ₹61 Cr, ranked 55th of 74 Software (Application) companies by market cap; the shares fell 28% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes.How we calculate this

past year

Open: ₹39.20
Day high: ₹40.50
Day low: ₹39.20
Prev. close: ₹39.49
Volume: 8.4K

Health check

3 good · 1 fair · 2 to check

ReturnsBehind
−28.2% over a year, better than 1 of 7 peers.
Price tagCheaper
P/E 8.0 vs industry 27.7.
GrowthStrong
Sales +39.6%, profit +57.6% a year over 3 years.
ProfitabilityAverage
ROCE 18.6% vs peer median 12.6%.
Balance sheetSolid
Debt 0.13× equity, interest covered 29.5×, Piotroski 6 of 9.
Red flags2 to check
Quarterly profit down 72.9% on a year ago.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Software - Application

73 listed peers. Screen the industry

Small cap

₹61 Cr, #55 of 74 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months: sales ₹26 Cr · profit ₹7 Cr

Market cap: ₹61 Cr; Small cap
P/E: 8.0; Industry 27.7
Price to book: 1.09; Peers 8.24
Dividend yield: 0.00%
ROE: 18.8%; Peers 15.3%
ROCE: 18.6%; Peers 12.6%
Debt to equity: 0.13; Debt ₹7.05 Cr
EPS (TTM): ₹4.93
OPM (TTM): 23.0%; Net margin 27.4%
Sales growth: +9.1%; Latest quarter vs a year ago
Profit growth: −72.9%; Latest quarter vs a year ago
Price to sales: 2.36; EV/EBITDA 5.4

Strengths

Return on equity of 18.8%.
Net margin of 27.4%.
P/E of 8.0 against an industry P/E of 27.7.
Positive operating cash flow in each of the last 4 years.

Risks to check

Quarterly profit down 72.9% on a year ago.
35% below its 52-week high.

Derived automatically from reported figures. Not a recommendation.

About Icodex Publishing Solutions

Icodex Publishing Solutions Limited provides software solutions to the scholarly and academic publishing industries in India. It offers Innovative Comprehensive Automated Publishing Platform, a cloud-based publishing workflow solution that streamlines the publishing process through the workflow and communication management, data transfer, and data storage; PaperPerfect, a manuscript refinement platform designed to support researchers, universities, and…

Headquarters: Pune
Employees: 127
Sector: Technology
ISIN: INE111601014
Website: icodexsolutions.com

Price range

52 weeks

₹29.01₹60.30

Today

₹39.20₹40.50

Avg volume (3M): 8.4K
1-year return: minus 28.2%
From 52-week high: minus 35.0%

Peers · Software - Application

Compare with peers Screen the whole industry

Company
TATAELXSITata Elxsi	3,855.00	minus 1.66%	24,019	35.8	8.24	26.2%	23.9%	22.7%	6.1%	−5.9%	1.95%	minus 27.2%
URBANCOUrban Company	158.12	minus 0.25%	23,446	–	12.14	−7.2%	−21.5%	−22.9%	34.7%	–	0.00%	plus 6.5%
KFINTECHKfin Technologies	915.80	minus 1.14%	15,835	45.6	9.75	18.9%	22.6%	38.1%	22.5%	20.6%	1.31%	minus 13.4%
KPITTECHKPIT Technologies	540.45	plus 0.12%	14,713	27.7	3.99	21.3%	15.3%	26.7%	24.2%	18.7%	1.39%	minus 53.3%
BBOXBlack Box	810.95	minus 5.36%	14,402	62.2	11.18	12.6%	21.3%	9.0%	0.2%	109.3%	0.12%	plus 56.1%
AMAGIAmagi Media Labs	568.25	minus 0.04%	12,293	119.9	6.74	5.0%	6.3%	3.9%	30.3%	–	0.00%	plus 63.2%
BLACKBUCKBLACKBUCK	557.55	plus 3.06%	10,161	56.4	6.71	11.7%	12.8%	23.9%	53.9%	–	0.00%	minus 17.3%
ICODEXIcodex Publishing Solutions	39.20	minus 0.73%	61	8.0	1.09	18.6%	18.8%	23.0%	39.6%	57.6%	0.00%	minus 28.2%
Median of 7 peers	–	−0.25%	14,713	51.0	8.24	12.6%	15.3%	22.7%	24.2%	19.7%	0.12%	−13.4%

Quarterly results

This company doesn’t report these figures in a format we can read yet.

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: +39.6%
Profit CAGR 3Y: +57.6%
ROE: 18.8%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
9.5	10.4	21.9	25.9
–	+9.1%	+110.3%	+18.5%
7.6	6.1	8.3	15.2
1.9	4.3	13.6	10.7
20.4%	41.0%	62.2%	41.4%
0.2	0.6	−0	0.4
0	0	0.2	0.4
0.3	0.4	0.6	0.7
–	–	0	0.2
1.8	4.4	12.8	10.3
1.6%	1.1%	30.1%	30.9%
1.8	4.4	9	7.1
–	+142.7%	+103.7%	minus 20.8%
1.16	2.81	5.73	–

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
0	0	12.2	15.6
4.2	8.6	6.8	40.7
0	0.9	3	7
1.6	1.2	2.7	2.8
5.9	10.7	24.7	66.2
0.6	0.5	0.8	9.7
–	–	0.3	9.3
0.2	0.1	3.6	7.8
5.1	10.2	20	39.4
5.9	10.7	24.7	66.2

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
1.3	3.8	6.4	1.6
−1.1	−3.3	−12.7	−35.5
0	0.8	3.4	33.9
0.2	1.4	−2.9	0
−0.9	−3.1	−10.8	−14.8
0.4	0.8	−4.5	−13.1

Shareholding pattern

This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.

Major shareholders

BSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you