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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
IKIO Technologies Limited, formerly IKIO Lighting Limited, is an India-based manufacturing company and an end-to-end product solutions provider in LED lighting, electronics, refrigeration lighting, hardware, and recreational vehicle (RV) components. The Company is primarily…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A decent, stagnant business, fairly priced — but flagged on governance.
Ikio Lighting is scored on the general / industrial framework. It keeps a slim 6.8% of every rupee of sales as net profit. Cash conversion lags the reported profit (CFO/PAT 0.39×) — worth a closer look. Free cash flow is worth about 0.3% of its market value.
Over the last 3 years revenue compounded at 19%/yr and profit at -6%/yr. Book value itself has compounded 62%/yr — the hallmark of a genuine compounder. Return on equity is a weak 6.3%. In the latest quarter profit fell 37% versus the prior quarter.
At 40× earnings, the stock sits at the 51st percentile of its own 3.4-year range — the middle of where it has historically traded. Today's price implies ~14%/yr earnings growth for a decade. The forensic screen raises a red flag: Share count up 31% over 4 years — heavy equity dilution.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 29.34 | 31.55 | better |
| P/B | 2.45 | 4.25 | better |
| EV/EBITDA | 12.93 | 28.53 | better |
| ROE | 6.28 | 15.79 | worse |
| ROCE | 9.11 | 13.24 | worse |
| ROA | 6.07 | 2.94 | better |
| Quick Ratio | 1.62 | 2.52 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| LG Electronics India | 61.9 | 13.5 | 21.9% |
| Dixon Techno | 44.2 | 13.1 | 26.4% |
| Havells India | 42.4 | 7.2 | 17.0% |
Revenue has grown every year across all 4 financial years shown. 19% CAGR over 3 years — steady double-digit compounder. Growth is accelerating — latest year outpaced the prior year's rate.
Revenue is outpacing profit (19% vs -6%) — costs are rising faster than the top line.
Operating margin has compressed from 18% to 9% — costs or competition are eating into profitability. Interest or tax burden is shrinking — more of the operating profit is reaching the bottom line.
ROE at 7% — modest; the capital isn't working hard. Capital efficiency declining — ROE down 28pp.
Profit grew faster than EPS (-6% vs -14%) — share dilution is eroding per-share value. -14% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
1 of 4 years had negative operating cash flow — profitability on paper may not translate to cash. Cash conversion at 0.4× PAT — reported profit isn't translating into cash, raising earnings quality questions. Heavy investing spend every year, but operations generate enough to cover it — the business self-funds its growth.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue broadly flat QoQ — stable but not accelerating. Run-rate stepping up — recent quarters average 9% above earlier ones.
Profit fell 37% QoQ — one-quarter drops can be noise, but a pattern matters.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.4y median.
Promoters hold 72.5% — heavily owner-operated with strong skin in the game.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.