BSE: 544393
INFONATIVE SOLUTIONS LIMITED
E-learning content company that creates digital learning material, courses and learning management system (LMS) features for external clients. It is listed on BSE SME (scrip code 544393) following an IPO in April 2025 that raised Rs 2,015.14 lakh in share proceeds, with disclosed end-use including development of new products, courses, LMS features and laptop purchases (Rs 7.35 crore allocated). Revenue from operations for FY26 stood at Rs 2,301.94 lakh, up about 6.2% from Rs 2,167.35 lakh in FY25, while H1 FY26 revenue was Rs 1,207.24 lakh. The company has been empaneled as a Content Creator with National Housing Bank (NHB) and as a Training Partner with National Bank for Financing Infrastructure and Development (NaBFID), suggesting government financial institutions are a key client category. The business is people-intensive, with employee costs at 65.9% of revenue (Rs 1,516.85 lakh in FY26, up 36% YoY) and other operating expenses at 19.4% of revenue. Capex was 109.1% of revenue, reflecting the company's investment phase post-IPO into product development, intangible assets and fixed deposits. Profitability has been compressed despite revenue growth, with net profit falling 52% to Rs 285.49 lakh in FY26 and other expenses more than doubling to Rs 446.96 lakh. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. E-learning content creation, Training partnership services, Content creation for government clients. Small-cap, employee-intensive e-learning content and IT services business in post-IPO investment phase
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY25 | FY26 |
|---|---|---|
| Revenue | 22 | 23 |
| EBITDA (ex other income) | — | — |
| margin % | — | — |
| Owners' profit | — | — |
| EPS, as reported (₹) | 6.82 | 2.41 |
| ROE % · ROCE % | — · 46.1 | — · 10.8 |
| Debt / equity (x) | — | — |
| Cash from operations | 5 | 3 |
| Capex | (5) | (25) |
Exhibit 2: Quarterly performance, last 3 quarters
| ₹ crore | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|
| Revenue | 10 | 12 | 11 |
| Profit before tax | 3 | 2 | 2 |
| Net profit | — | — | — |
| EPS (₹) | 2.64 | 1.29 | 1.13 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| L&T TECHNOLOGY SER. LTD. | 43,370 | 32.9 | 6.68 | 20.0 | 19.7 | 21.1 | 15.1 | 19.6 |
| INVENTURUS KNOWLEDGE SO L | 28,839 | 37.0 | 10.30 | 26.2 | 25.8 | 27.7 | — | 33.6 |
| TATA TECHNOLOGIES LIMITED | 26,430 | 47.4 | 6.74 | 28.7 | 13.9 | 14.3 | — | 18.3 |
| NETWEB TECH INDIA LTD | 25,071 | 95.9 | 34.66 | — | 28.5 | 37.5 | — | 15.7 |
| SAGILITY LIMITED | 21,192 | 21.4 | 2.19 | 12.0 | 9.6 | 11.6 | — | 22.3 |
| AFFLE 3I LIMITED | 19,968 | 41.7 | 5.47 | 27.3 | 12.5 | 15.2 | 39.3 | 25.8 |
| BLACK BOX LIMITED | 14,418 | 61.8 | 11.20 | 28.7 | 16.9 | 9.5 | 6.2 | 8.4 |
| CYIENT LIMITED | 12,888 | 33.8 | 2.09 | 11.7 | 7.5 | 9.7 | 12.0 | 13.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 7.1 | 17.9 | 14 of 76 | 83% |
| ROCE | 9.4 | 9.6 | 45 of 86 | 48% |
| Market cap | 42 | 325 | 72 of 87 | 17% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · Routine RTA compliance certificate for Q2 FY26 | compliance | minimal | — | — |
| 28 Sept 2026 · AGM 2026: 4 resolutions passed; 40% dissent on financial statements | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Infonative Solutions 28th AGM concludes; ESOP Scheme 2026 among four resolutions | board shareholder meetings | low | — | — |
| 21 Sept 2026 · Trading window closed from Oct 1 for H2 FY26 financial results | compliance | minimal | — | — |
| 2 Sept 2026 · 28th AGM scheduled for 25 September 2026 via video conferencing | compliance | minimal | — | — |
| 2 Sept 2026 · Annual Report FY26 and 28th AGM notice filed | results | high | — | — |
| 1 Sept 2026 · Notice of 28th AGM on 25 Sep 2026 with ESOP and RPT proposals | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Board approves AGM, ESOP 2026 scheme, re-appoints auditor and director | management changes | medium | — | — |
| 1 Sept 2026 · Board approves 28th AGM on Sep 25, ESOP Scheme 2026 and RPTs up to Rs 15 Cr | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Infonative Solutions to acquire 51% stake in Digital Benchers for about 1.68 crore | strategic transactions | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.