IDEAFORGE TECHNOLOGY LIMITED (IDEAFORGE): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹669.9 latest close · −18.5% over the last 90 sessions

₹669.9 month-end · +44.6% over 12 months

₹669.9 month-end · −14.4% over 3 years

₹669.9 month-end · −41.3% since Jul '23

52-week range ₹366.00 to ₹992.25 · 1-year volatility 57.5%

Was the rally earned?

-14%share price, 3 yearsEarnings-driven

Mostly earnings.

Per-share earnings took off 262 points, while the multiple moved less (P/E 52.2x to 752.7x).
The share count rose 102%.

Net profit growth-196 ptsNet profit fell about 88%, which lowers the price.

P/E change+247 ptsThe P/E rose from 52.2x to 752.7x, which lifts the price.

Share count change-65 ptsShare count rose 102%, which lowers the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 1 year and 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with HINDUSTAN AERONAUTICS

How rough has the ride been?

Maximum drawdown-74.9%not yet recovered

1-year volatility57.5%annualised

Beta vs sector index0.963-year daily, correlation 0.49

Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-74.9% (2023-07 peak to 2025-03 low, not yet recovered)

Most recent volume spikes

2026-11-03: 5.5x the 50-day median, price +3.5% that day

2026-08-19: 5.2x the 50-day median, price -1.2% that day

2026-08-13: 7.1x the 50-day median, price -3.5% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Where does it rank among Electronic Technology peers?

Each cell is the company's percentile rank among its Electronic Technology peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE6thflat vs a year ago
Op. margin12th▲ 10 pts vs a year ago
Revenue growth99th▲ 97 pts vs a year ago
EPS growth2nd▼ 7 pts vs a year ago
Debt/equity ↓66th▼ 11 pts vs a year ago
Cash cycle ↓9th▼ 7 pts vs a year ago
P/E ↓3rd
12M momentum74th▲ 32 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Electronic Technology sector page Watch it move against Electronic Technology in the Observatory

What is the price implying?

~54%annual earnings growth implied by the price

At a P/E of 352.2x, the price would imply about 53.6%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Electronic Technology The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹669.90
P/E: 752.7x
ROCE: -3.0%
Market Cap: ₹3333 cr
Revenue (TTM): ₹282 cr
P/S: 11.8x
P/B: 5.6x
ROE: 0.7%
Operating Margin: 3.4%
Debt / Equity: 0.1x
Promoter Holding: 29.0%
12M Momentum: 44.6%

52-week range

₹366.00₹992.25

49% of the way from its 52-week low to its high

Price risk

1Y volatility

57.5%

Beta vs sector

1-year daily

1.38

Balance sheet & cash

Interest cover

operating profit ÷ interest

-0.2x

Cash from profit, 3Y

operating cash flow ÷ net profit

-2.00x

low

Share count, 1Y

unchanged

Are profits backed by cash?

1 of 5checks within range2 beyond a threshold

Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate0%Beyond threshold

Median quarterly effective tax rate over about 2.5 years: 0.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion—Not enough data

Not enough reported data to compute this.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+91 daysBeyond threshold

Debtor days are above the median of the previous three fiscal years by 91 days (204 vs 113). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress80% of fixed assetsWithin range

Capital work-in-progress is 80% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+117 days / 2 yrsNear threshold

Days payable changed by +117 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 2 years, DIIs trimmed 3.7 pts; FIIs added 1.4 pts.
The number of shareholders rose from 1.0 lakh to 1.7 lakh (+58%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters29.3%29.0%-0.4 pts

FIIs3.5%4.9%+1.4 pts

DIIs6.4%2.7%-3.7 pts

Public and others60.8%63.5%+2.7 pts

Number of shareholders

1.7 lakhshareholders+58% since Dec '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−21.3%typical 12-month return vs the marketBelow the base rate

We found 50 past situations where a non-financial company looked like IDEAFORGE TECHNOLOGY LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −41% to +14% vs the market, against −6% for all non-financial companies in the same months.
The analogs' median sat below that base rate (gap −15.8%, 80% range −23.5% to −7.5%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 4 beyond the range shown, drawn at the edge

Similar setups' median

−21.3%

All companies' median

−5.5%

Beat the market

34% vs 44%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
OLECTRA Consumer Durables	Mar 2022	683x	2%	+208%	−26%	−3%
SEPC Industrial Services	Jun 2024	148x	5%	+112%	−26%	−27%
DHANI Finance	Jan 2021	3744x	6%	+91%	−13%	−71%
TARC Finance	Jan 2022	229x	1%	+111%	−19%	−12%
SPCENET Miscellaneous	Apr 2024	604x	6%	+76%	−22%	−74%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
ATULAUTO Consumer Durables	Nov 2023	366x	4%	+94%	−9%	−29%
KERNEX Electronic Technology	Mar 2025	260x	-21%	+39%	−49%	+13%
TREJHARA Technology Services	Jul 2025	85x	3%	+22%	−26%	−41%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, 12-month momentum and P/E. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to IDEAFORGE TECHNOLOGY LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

EASY TRIP PLANNERSEASEMYTRIP

Consumer Services

65%similar

ROCEvolatility

XPRO INDIAXPROINDIA

Process Industries

55%similar

market capROCE

KOPRANKOPRAN

Health Technology

54%similar

volatilitypromoter holding

TIRUPATI FORGETIRUPATIFL

Producer Manufacturing

54%similar

P/Erevenue

SOM DISTILLERIES N BREWERIES LSDBL

Consumer Non-Durables

53%similar

operating marginpromoter holding

MOSCHIP TECHNOLOGIESMOSCHIP

Electronic Technology

53%similar

market capP/E

NELCONELCO

Electronic Technology

42%similar

P/Erevenue

CYIENT DLMCYIENTDLM

Electronic Technology

32%similar

debt/equityrevenue growth

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

29 events since Oct '23

2026
NovPriceVolume reached 5.5x its 50-day median on 2026-11-03; price +3.5% that day.
SepResultsEPS (TTM) turned positive.
SepInstitutionsFII + DII holding rose 5.9 pts over 2 quarters to 7.6%.
SepPeer rankSlipped to the bottom quartile of Electronic Technology on operating margin (from the top quartile).
AugPriceVolume reached 7.1x its 50-day median on 2026-08-13; price -3.5% that day.
JunPeer rankMoved into the top quartile of Electronic Technology on operating margin (from the bottom quartile).
AprPriceVolume reached 46.3x its 50-day median on 2026-04-22; price +12.8% that day.
MarPriceVolume reached 74.0x its 50-day median on 2026-03-02; price +6.9% that day.

Show 21 earlier events

2025
DecPriceVolume reached 77.2x its 50-day median on 2025-12-22; price +16.7% that day.
AugPriceVolume reached 18.3x its 50-day median on 2025-08-22; price +7.9% that day.
JunPeer rankSlipped to the bottom quartile of Electronic Technology on ROCE (from the 3rd quartile).
MayPriceVolume reached 48.1x its 50-day median on 2025-05-09; price +20.0% that day.
MarResultsEPS (TTM) turned negative.
MarPriceFell 75% from the Jul 2023 peak to the Mar 2025 low.
MarPriceVolume reached 13.5x its 50-day median on 2025-03-19; price +14.1% that day.
FebDebtDebt / equity halved over 12 months to 0.02x.
2024
DecResultsRevenue (TTM) reached a new high of ₹316 cr.
OctPriceVolume reached 7.6x its 50-day median on 2024-10-29; price -10.6% that day.
SepPeer rankSlipped to the bottom quartile of Electronic Technology on operating margin (from the 2nd quartile).
JulDebtDebt / equity halved over 12 months to 0.02x.
JulSharesShare count is up 104.8% over 12 months.
JulPriceVolume reached 8.9x its 50-day median on 2024-07-30; price -11.5% that day.
JunInstitutionsFII + DII holding fell 3.3 pts over 1 quarter to 6.5%.
JunPeer rankSlipped to the 3rd quartile of Electronic Technology on ROCE (from the 2nd quartile).
JunPriceVolume reached 31.2x its 50-day median on 2024-06-18; price +6.7% that day.
FebPeer rankMoved into the 2nd quartile of Electronic Technology on ROCE (from the 3rd quartile).
FebPriceVolume reached 29.0x its 50-day median on 2024-02-26; price +6.7% that day.
2023
DecPeer rankSlipped to the 3rd quartile of Electronic Technology on ROCE (from the 2nd quartile).
OctPriceVolume reached 6.4x its 50-day median on 2023-10-11; price +3.5% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history41 months · 2023-07 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	752.7x	₹282 cr	0.7%	-3.0%	0.1x
2026-10	706.2x	₹282 cr	0.7%	-3.0%	0.1x
2026-09	821.3x	₹282 cr	0.7%	-3.0%	0.1x
2026-08	—	₹226 cr	-3.3%	-3.0%	0.1x
2026-07	—	₹226 cr	-3.3%	-3.0%	0.1x
2026-06	—	₹226 cr	-3.3%	-3.0%	0.1x
2026-05	—	₹105 cr	-19.5%	-10.0%	0.0x
2026-04	—	₹105 cr	-19.5%	-10.0%	0.0x
2026-03	—	₹105 cr	-19.5%	-10.0%	0.0x
2026-02	—	₹91 cr	-17.6%	-10.0%	0.0x
2026-01	—	₹91 cr	-17.6%	-10.0%	0.0x
2025-12	—	₹91 cr	-17.6%	-10.0%	0.0x
2025-11	—	₹88 cr	-16.5%	-10.0%	0.0x
2025-10	—	₹88 cr	-16.5%	-10.0%	0.0x
2025-09	—	₹88 cr	-16.5%	-10.0%	0.0x
2025-08	—	₹161 cr	-11.8%	-10.0%	0.0x
2025-07	—	₹161 cr	-11.8%	-10.0%	0.0x
2025-06	—	₹161 cr	-11.8%	-10.0%	0.0x
2025-05	—	₹243 cr	-4.6%	11.0%	0.0x
2025-04	—	₹243 cr	-4.6%	11.0%	0.0x
2025-03	—	₹243 cr	-4.6%	11.0%	0.0x
2025-02	123.0x	₹316 cr	2.2%	11.0%	0.0x
2025-01	158.3x	₹316 cr	2.2%	11.0%	0.0x
2024-12	200.7x	₹316 cr	2.2%	11.0%	0.0x
2024-11	90.4x	₹303 cr	4.7%	11.0%	0.0x
2024-10	90.3x	₹303 cr	4.7%	11.0%	0.0x
2024-09	111.2x	₹303 cr	4.7%	11.0%	0.0x
2024-08	65.3x	₹314 cr	7.8%	11.0%	0.0x
2024-07	67.4x	₹314 cr	7.8%	11.0%	0.0x
2024-06	70.9x	₹314 cr	7.8%	11.0%	0.0x
2024-05	45.2x	₹186 cr	11.4%	15.0%	0.3x
2024-04	46.0x	₹186 cr	11.4%	15.0%	0.3x
2024-03	45.9x	₹186 cr	11.4%	15.0%	0.3x
2024-02	53.5x	₹186 cr	11.4%	15.0%	0.3x
2024-01	47.5x	₹186 cr	11.4%	15.0%	0.3x
2023-12	55.4x	₹186 cr	11.4%	15.0%	0.3x
2023-11	52.2x	₹186 cr	11.4%	15.0%	0.3x
2023-10	53.3x	₹186 cr	11.4%	15.0%	0.3x
2023-09	59.9x	₹186 cr	11.4%	15.0%	0.3x
2023-08	66.1x	₹186 cr	11.4%	15.0%	0.3x
2023-07	76.2x	₹186 cr	11.4%	15.0%	0.3x

Methodology and data notes