BSE: 543746
LOGICA INFOWAY LIMITED
Distributes and retails technology products across India through company-owned retail stores, e-commerce, and a wholesale/distribution channel. The retail business operates Company-Owned Company-Operated (COCO) stores, growing 60% YoY in FY26 to ₹2,780 Mn and contributing 21% of total revenue. E-commerce was the other growth channel, up 30% YoY in H1 FY26 to ₹1,762 Mn, while exports were deliberately scaled back by about 70% in H1 FY26 to focus on higher-return domestic businesses. The store network expanded from 53 to 77 COCO stores covering 38,125 sq ft in FY26, with the company targeting 100+ stores by FY27 end and a medium-term vision of 500 stores. Operating costs are dominated by other operating expenses at 2.7% of revenue and employee costs at 0.9%, with EBITDA margin expanding to 2.61% in FY26 from 2.38% in FY25. Gross margin reached 5.91% for FY26, with H2 FY26 at 6.30% — the highest half-yearly print in company history. The board has begun studying migration from BSE's SME Platform to the Main Board. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Retail (COCO stores) (21%), E-commerce, Distribution, Exports. Thin-margin, asset-light technology retailing and distribution
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 705 | 1,064 | 1,112 | 1,316 |
| EBITDA (ex other income) | — | — | — | — |
| margin % | — | — | — | — |
| Owners' profit | — | — | — | — |
| EPS, as reported (₹) | 18.88 | 4.73 | 6.12 | 7.97 |
| ROE % · ROCE % | — · 18.7 | — · 31.4 | — · 29.4 | — · 32.6 |
| Debt / equity (x) | — | — | — | — |
| Cash from operations | (7) | 23 | 9 | 32 |
| Capex | — | — | (1) | (1) |
Exhibit 2: Quarterly performance, last 7 quarters
| ₹ crore | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|
| Revenue | 394 | 507 | 557 | 515 | 597 | 587 | 729 |
| Profit before tax | 3 | 4 | 7 | 4 | 10 | 9 | 11 |
| Net profit | — | — | — | — | — | — | — |
| EPS (₹) | 12.81 | 9.12 | 3.21 | 1.89 | 4.23 | 3.61 | 4.36 |
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. % |
|---|---|---|---|---|---|---|---|---|
| TRENT LTD | 1,54,511 | 63.0 | 21.74 | 41.1 | 24.2 | 26.2 | 50.6 | 20.1 |
| LENSKART SOLUTIONS LTD | 1,19,913 | 180.1 | 13.55 | 62.3 | 5.7 | 5.8 | — | 24.2 |
| VEDANT FASHIONS LIMITED | 11,751 | 29.1 | 7.69 | 16.1 | 8.5 | 8.4 | — | 52.7 |
| ADITYA BIRLA LIFES BRAN L | 8,818 | 49.8 | 6.24 | 6.9 | 12.1 | 5.0 | — | 16.0 |
| ADITYA VISION LIMITED | 7,243 | 52.0 | 10.52 | — | 17.0 | 17.4 | — | 10.6 |
| V2 RETAIL LIMITED | 5,667 | 3.6 | 6.28 | 12.0 | 18.0 | 14.2 | 41.6 | 14.1 |
| ADITYA BIRLA FASHION & RT | 4,870 | — | 0.78 | 7.0 | (13.3) | (7.1) | 9.3 | 8.5 |
| ARVIND FASHIONS LIMITED | 4,855 | 40.5 | 4.18 | 7.4 | 15.8 | 12.9 | 19.1 | 13.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.8 | 26.0 | 6 of 19 | 72% |
| ROCE | 18.7 | 10.0 | 3 of 20 | 90% |
| Revenue growth | 30.9 | 16.6 | 5 of 16 | 73% |
| Market cap | 320 | 724 | 13 of 20 | 37% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Routine compliance certificate for Q2 FY27 demat requests | compliance | minimal | — | — |
| 1 Oct 2026 · 31st AGM voting results: all 4 resolutions passed with 100% support | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Logica Infoway 31st AGM: FY26 revenue up 17.6% to Rs 1,316 cr, no dividend | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading Window Closure from Oct 1, 2026 for H2 FY26 Results | compliance | minimal | — | — |
| 8 Sept 2026 · Newspaper ad published for 31st AGM notice and annual report dispatch | compliance | minimal | — | — |
| 8 Sept 2026 · 31st AGM notice on Sept 30, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Notice of 31st AGM on Sep 30, 2026 along with FY26 Annual Report | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Logica Infoway FY26 Annual Report and 31st AGM notice filed with BSE | results | high | — | — |
| 8 Sept 2026 · 31st AGM scheduled for September 30, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Cut-off Date for 31st AGM e-voting revised to September 23, 2026 | board shareholder meetings | 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.