NSE: ISFT · BSE: 533181
INTRASOFT TECH. LTD
Operates an internet-based retail business through its 123Stores subsidiary, selling 150,000+ products across home, garden, and tools categories on the Amazon US marketplace through brand partnerships with around 102 brand partners. It also runs 123Greetings.com, a social-expression website that draws 95 million annual visitors. The business runs on a Vendor Direct Model, with goods shipped directly from brand warehouses rather than held in the company's own inventory, a shift completed between FY22 and FY26. In FY26, consolidated revenue stood at ₹534.22 crore and net profit at ₹13.28 crore, with finance costs falling from ₹256 lakhs to ₹115 lakhs on the back of reduced working-capital and debt. Management has stated a target of expanding the catalogue from 150,000 to 500,000 SKUs and brand partners from about 102 to 150+, with continued spend on technology and AI. Other operating expenses account for 95.7% of revenue, while employee cost is 1.2% and depreciation 0.1%, reflecting the capital-light, outsourced-fulfilment model. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. E-commerce retail (123Stores on Amazon US), Social expressions / digital media (123Greetings.com). Capital-light, internet-based e-commerce retailer and digital-media site with outsourced fulfilment
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 422 | 457 | 485 | 507 | 534 |
| EBITDA (ex other income) | 13 | 16 | 19 | 18 | 17 |
| margin % | 3.0 | 3.4 | 4.0 | 3.5 | 3.1 |
| Owners' profit | 13 | 8 | 0 | 0 | 0 |
| EPS, as reported (₹) | 8.70 | 5.71 | 6.61 | 7.78 | 7.78 |
| ROE % · ROCE % | 7.7 · 5.5 | 4.7 · 5.7 | 4.6 · 7.1 | 5.6 · 7.0 | 5.0 · 5.5 |
| Debt / equity (x) | 0.68 | 0.83 | 0.66 | 0.06 | 0.06 |
| Cash from operations | 33 | 14 | 17 | 83 | 19 |
| Capex | (1) | (0) | (0) | (0) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 126 | 128 | 130 | 129 | 133 | 137 | 136 | 140 |
| Profit before tax | 5 | 4 | 3 | 4 | 4 | 4 | 4 | 5 |
| Net profit | 4 | 3 | 2 | 4 | 3 | 3 | 3 | 5 |
| EPS (₹) | 2.40 | 1.66 | 1.45 | 2.51 | 2.09 | 1.60 | 1.93 | 2.79 |
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. % |
|---|---|---|---|---|---|---|---|---|
| ETERNAL LIMITED | 3,02,088 | 697.9 | 9.75 | 115.6 | 1.2 | 1.8 | — | 4.8 |
| MEESHO LIMITED | 1,04,386 | — | 23.80 | — | (31.0) | (27.2) | — | (3.0) |
| FSN E COMMERCE VENTURES | 98,119 | 384.8 | 65.32 | 128.6 | 13.6 | 17.8 | — | 8.8 |
| SWIGGY LIMITED | 48,077 | — | 2.63 | — | (22.7) | (20.4) | — | (6.4) |
| URBAN COMPANY LIMITED | 21,338 | — | 9.95 | — | (11.0) | (6.3) | — | (11.4) |
| CARTRADE TECH LIMITED | 11,689 | 50.2 | 4.46 | 34.2 | 9.3 | 10.5 | — | 44.0 |
| BRAINBEES SOLUTIONS LTD | 8,677 | — | 1.62 | 22.8 | (3.8) | (2.4) | — | 4.2 |
| RATTANINDIA ENT LIMITED | 3,381 | — | 4.39 | — | (21.6) | — | 844.9 | 2.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.0 | 13.5 | 5 of 10 | 56% |
| P/B | 0.7 | 3.5 | 4 of 12 | 73% |
| ROCE | 5.1 | 1.8 | 5 of 15 | 71% |
| ROE | 5.0 | 1.1 | 3 of 12 | 82% |
| Debt / Equity | 0.1 | 0.0 | 7 of 11 | 40% |
| EBITDA margin | 3.7 | 4.0 | 7 of 12 | 46% |
| Revenue growth | 8.3 | 16.3 | 9 of 13 | 33% |
| Profit growth | 10.8 | 30.7 | 8 of 10 | 22% |
| Market cap | 178 | 2271 | 10 of 16 | 40% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · Quarterly compliance certificate for dematerialisation of securities filed | compliance | minimal | — | — |
| 1 Oct 2026 · AGM 2026 results: all 3 resolutions passed with 100 percent assent | board shareholder meetings | low | — | — |
| 1 Oct 2026 · AGM Results: All 3 Resolutions Passed Including Amalgamation Scheme | compliance | minimal | — | — |
| 29 Sept 2026 · IntraSoft Tech 31st AGM approves FY26 financials and subsidiary amalgamation | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Trading window closed from October 1 ahead of Q2 results | compliance | minimal | — | — |
| 24 Sept 2026 · Intrasoft Tech clarifies on price movement; says purely market driven | regulatory legal | medium | — | — |
| 24 Sept 2026 · Clarification on share price movement to NSE surveillance query | regulatory legal | medium | — | — |
| 24 Sept 2026 · Clarification on price movement, no undisclosed info | compliance | low | — | — |
| 23 Sept 2026 · BSE seeks clarification from Intrasoft Tech on price movement | regulatory legal | medium | — | — |
| 7 Sept 2026 · Annual Report FY 2025-26 filed with BSE and NSE | compliance | low | — | — |
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.