Ivalue Infosolutions Ltd(IVALUE)

NSE: IVALUEBSE: 544523

₹ 208.9-2.54%refreshed 26 Oct, 02:30 pm ISTMarket cap: ₹ 1,144 crWebsite: www.ivaluegroup.comUpdated: 24 Oct 2026

About

iValue Infosolutions is a multi-OEM, services-enabled technology aggregator that curates and delivers cybersecurity, data centre infrastructure, information lifecycle management and cloud solutions to enterprise customers across BFSI, government, telecom and manufacturing sectors. The company works through a network of System Integrator partners and reported gross sales of ₹2,913.9 crore in FY26, growing 19.5% year-on-year. ICRA rates its long-term bank facilities at 'A' and short-term facilities at 'A2+'.^[1]

Business segments

Cybersecurity: 50.1% of gross sales in FY26, grew 27.6% YoY; covers cloud, network, endpoint, application, OT/IoT, identity, DSPM, database security and SIEM.^[2]
Data Centre Infrastructure: 17.4% of gross sales in FY26, grew 22.2% YoY; rose to 22.1% of gross sales in Q1 FY27 from 8.2% in Q1 FY26, driven by AI and GPU procurement.^[1][2]
Information Lifecycle Management: 20.6% of gross sales in FY26; fell to 12.5% in Q1 FY27 from 33.2% in Q1 FY26 as enterprise budgets shifted to GPU and data centre infrastructure.^[2]
ALM, Cloud and Other Solutions: 11.9% of gross sales in FY26; covers application lifecycle management, hybrid cloud and DevSecOps; grew 1.0% YoY in FY26.^[2]
Annuity (recurring) business: 42.2% of gross sales in FY26 (₹1,228.7 cr), up from 34.55% in FY23; grew 18.0% YoY vs ₹1,041.3 cr in FY25.^[1][2]

Key operating numbers

Net working capital days: 52 days in Q1 FY27 (improved by 1 day YoY); 43 days for FY26 vs 30 days in FY25.^[3]
Annuity EBITDA margin is about 100-150 bps higher than transactional business, as renewals need less sales effort.^[4]
Nearly 85% of incremental gross margin flows through as incremental EBITDA in the asset-light model.^[2]

OEM partners and distribution

Works with 115 OEM partners as of Q1 FY27; top 5 OEMs contribute 60-65% of total business.^[3]
SI partner network grew to 866 in FY26 from 567 in FY23; SI retention rate 82.33% in FY26 vs 80.73% in FY25 and 64.35% in FY23.^[1]
About 100 strategic accounts contributed nearly half of business in FY26; 500+ unique partners transacted in Q3 FY26.^[2][1]
474 enterprise customers engaged with 2 or more OEM solutions as of FY26.^[1]

Customers and geography

Serves enterprise customers across BFSI, government, telecom, manufacturing and technology in India and international markets.^[2]
Revenue split: 87% India / 13% international in Q1 FY27.^[3]
Present across India, SAARC, Southeast Asia and the Middle East; first revenues from Vietnam, Philippines and the Middle East in Q1 FY27.^[2]
FY26 engagements included a national digital infrastructure refresh consolidating 11+ OEMs (government) and a multi-year engagement with India's largest public sector bank.^[1]

Pipeline and win rates

Active sales pipeline of ₹6,150 crore in Q1 FY27, up about 6% over the prior quarter; win rate 30-35%.^[3]
Cybersecurity funnel was ₹1,800-₹2,000 crore of a total ₹4,500 crore pipeline as of Q3 FY26.^[4]

Operations and capabilities

Runs a Center of Excellence supporting architecture validation, use-case development and solution testing for enterprise AI deployments.^[2]
Offers 24x7 managed services including SOC, NOC, IMS/ESM, helpdesk and compliance services.^[2]
Acquired ASPL to strengthen hybrid multi-cloud and managed services capabilities.^[2]
FY26 annual report notes AI-led demand driving higher hardware and RAM prices and longer lead times.^[2]

Recent developments

Q1 FY27: Data Centre Infrastructure grew 182.9% YoY on enterprise and BFSI GPU procurement and AI-ready infrastructure investment.^[3]
Q1 FY27: Professional CEO stepped down; Chairman MD Sunil Pillai and Executive Director KRS jointly oversee India and international operations respectively.^[3]
Q1 FY27: Umashankar Krishnamoorthy named Chief Business Officer, Sameer Kanse Chief Revenue Officer and Mitish Chitnavis Chief Technology Officer.^[3]
Q1 FY27: PE investor Creador fully exited; Kabir Thakur (Creador) remains on the board as Non-Executive Director.^[3]
Credit ratings: ICRA long-term fund-based 'A' and short-term 'A2+' on bank facilities.^[2]

Market Cap

₹1,144 Cr

High / Low

₹339 / 189

Stock P/E

11.3

Price / Book

2.1

Book Value

₹104

EPS

₹18.0

No. of Shares

5.46 Cr

ROCE

23.1%

ROE

17.3%

OPM

13.7%

Debt / Equity

0.08

Sales

₹1,056 Cr

Net Profit

₹98 Cr

Promoter holding

32.1%

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