Want to see IN:IKIO full AI Analyst Report?
Top Page
IKIO Lighting Limited
(IKIO)
Select Model
Select Model
Rating:57Neutral
Price Target:
₹222.00
▲(19.94% Upside)
Action:Reiterated
Date:08/29/26
The score is held back primarily by weakening profitability and poor free-cash-flow performance despite healthy revenue growth and a conservative recent balance sheet. Technically, the stock is in an uptrend above major moving averages, but mixed momentum indicators and a high P/E without a dividend keep the overall score in the mid-range.
Positive Factors
Revenue Growth
Steady revenue expansion indicates ongoing customer demand and production activity. Continued top-line growth provides a durable base for operating leverage if IKIO can stabilize margins and convert sales into cash.
Negative Factors
Margin Compression
The sharp decline in gross margin, alongside net margin falling to about 6% from 14–15%, signals weaker earnings quality. Persistent pressure would reduce the benefit of revenue growth and constrain reinvestment capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Steady revenue expansion indicates ongoing customer demand and production activity. Continued top-line growth provides a durable base for operating leverage if IKIO can stabilize margins and convert sales into cash.
Read all positive factors
IKIO Lighting Limited (IKIO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹16.43B
Dividend Yield0.35%
Average Volume (3M)27.24K
Price to Earnings (P/E)35.0
Beta (1Y)2.03
Revenue Growth34.55%
EPS Growth108.62%
CountryIN
Employees435
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)6.02
Shares Outstanding77,280,700
10 Day Avg. Volume46,314
30 Day Avg. Volume27,243
Financial Highlights & Ratios
PEG Ratio1.31
Price to Book (P/B)1.38
Price to Sales (P/S)1.39
P/FCF Ratio-13.13
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
IKIO Lighting Limited Business Overview & Revenue Model
Company Description
Based in Noida, India, IKIO Technologies Limited, founded in 2016 (and formerly known as IKIO Lighting Limited until its name change in March 2025), specializes in the design, development, and production of LED lighting and energy solutions for th...
How the Company Makes Money
IKIO primarily makes money by manufacturing lighting products and related components for customers on a contract basis. Its revenue model is centered on (1) sale of manufactured goods—earning revenue when it delivers finished lighting products or ...
IKIO Lighting Limited Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
78
Positive
Cash Flow
39
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.44B | 5.95B | 4.86B | 4.38B | 3.59B | 3.32B |
| Gross Profit | 1.12B | 1.22B | 2.05B | 1.76B | 1.27B | 1.38B |
| EBITDA | 1.01B | 775.35M | 750.81M | 1.01B | 759.95M | 795.59M |
| Net Income | 465.00M | 378.26M | 309.11M | 605.71M | 500.38M | 505.16M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 7.67B | 6.76B | 6.58B | 3.11B | 2.65B |
| Cash, Cash Equivalents and Short-Term Investments | 217.51M | 576.23M | 1.14B | 1.88B | 30.11M | 27.26M |
| Total Debt | 0.00 | 696.99M | 527.37M | 703.28M | 1.23B | 1.16B |
| Total Liabilities | -6.09B | 1.58B | 1.14B | 1.05B | 1.69B | 1.58B |
| Stockholders Equity | 6.09B | 6.02B | 5.61B | 5.53B | 1.42B | 1.09B |
Cash Flow | ||||||
| Free Cash Flow | -227.10M | -632.24M | -608.26M | -889.04M | 371.64M | -246.55M |
| Operating Cash Flow | 51.02M | 185.91M | 350.67M | -52.02M | 568.14M | -154.84M |
| Investing Cash Flow | -28.79M | -196.14M | -40.77M | -2.49B | -498.52M | -92.08M |
| Financing Cash Flow | -20.60M | 108.61M | -331.57M | 2.66B | -77.45M | 235.89M |
IKIO Lighting Limited Technical Analysis
Positive
185.10
Price Trends
200.38
Positive
178.43
Positive
167.93
Positive
Market Momentum
2.67
Negative
58.30
Neutral
63.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IKIO, the sentiment is Positive. The current price of 185.1 is below the 20-day moving average (MA) of 202.15, below the 50-day MA of 200.38, and above the 200-day MA of 167.93, indicating a bullish trend. The MACD of 2.67 indicates Negative momentum. The RSI at 58.30 is Neutral, neither overbought nor oversold. The STOCH value of 63.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:IKIO.
IKIO Lighting Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹725.46B | 44.32 | ― | 0.86% | 10.10% | 15.60% | |
69 Neutral | ₹146.34B | 40.17 | ― | 0.45% | 13.36% | 26.08% | |
63 Neutral | ₹17.90B | 47.92 | ― | 0.06% | 7.40% | 14.85% | |
61 Neutral | ₹23.06B | 12.90 | ― | 0.79% | 8.74% | 113.98% | |
57 Neutral | ₹16.43B | 35.05 | ― | 0.35% | 34.55% | 108.62% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹4.26B | 72.31 | ― | 0.45% | 14.94% | -31.55% |
* General Sector Average
IN:IKIO
IKIO Lighting Limited
212.65
4.00
1.92%
IN:EVEREADY
Eveready Industries India Ltd
317.20
-134.06
-29.71%
IN:FOCUS
Focus Lighting and Fixtures Ltd
63.37
-31.06
-32.89%
IN:HAVELLS
Havells India Limited
1,156.00
-410.13
-26.19%
IN:SERVOTECH
Servotech Power Systems Ltd.
79.62
-51.63
-39.34%
IN:VGUARD
V-Guard Industries Limited
334.95
-35.54
-9.59%
IKIO Lighting Limited Corporate Events
IKIO Technologies Reshapes Audit Structure for Key Unlisted Subsidiaries
Jul 28, 2026
IKIO Technologies has announced a change in the audit arrangements for its key unlisted subsidiaries Royalux Lighting, IKIO Solutions and Royalux Exports, which had recently appointed Agarwal Saxena as joint statutory auditors alongside BGJC Ass...
IKIO Technologies Postpones 10th AGM, Issues Regulatory Newspaper Notice
Jun 8, 2026
IKIO Technologies Limited has postponed its 10th Annual General Meeting and notified this change through newspaper advertisements in the English-language Financial Express and the Hindi-language Jansatta. The company’s communication, made in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.