September 15, 2025
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Ivalue Infosolutions Limited IPO – Review
Financial & Valuation Snapshot
| KPI | Value |
|---|---|
| ROE | 21.13% |
| ROCE | 28.98% |
| RoNW | 22.02% |
| PAT Margin | 8.87% |
| Price to Book Value | 4.96 |
| EPS (₹) | 15.93 |
| P/E Ratio | 18.77 |
Analysis
Business Strengths
- Bengaluru-based digital transformation solutions provider with verticals in cybersecurity, ILM, cloud, data center infra & ALM.
- Strong international presence (India + 6 overseas markets).
- Serves 3,500+ enterprise clients through 1,600+ system integrators.
- Wide portfolio of 350+ products backed by 20+ OEM tie-ups.
Financial Performance
- The company has shown consistent revenue and PAT growth, reflecting scalability in enterprise solutions.
- PAT margin of 8.87% is above typical distribution peers, indicating efficient cost management.
- ROE of 21.13% and ROCE of 28.98% highlight efficient capital utilization.
- With EPS at ₹15.93, the IPO is valued at a P/E of 18.77x, which looks reasonable compared to listed IT distribution/solution peers (often trade 20–25x).
Risks
- High dependency on OEM partnerships.
- Working capital requirements (receivables + inventory) could stress cash flows.
- Thin sectoral margins compared to pure IT services companies.
Chanakya Verdict
- Positives: Strong OEM tie-ups, high RoE & RoCE, reasonable P/E valuation, strong digital growth theme.
- Concerns: OFS issue (no fresh funds for business), dependence on OEMs, modest PAT margin.
- Overall Guidance: Investors with moderate-to-high risk appetite may Apply. Scope for listing gains exists due to healthy financial ratios and sector theme.
- Study comple IPO Details
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