IKIO Lighting Limited (IKIO) AI Stock Analysis

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IKIO Lighting Limited

(NSE:IKIO)

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Rating:69Neutral

Price Target:INR 190.00▲(9.48% Upside)

Action:reiterated

Date:08/29/26

The overall score is driven primarily by solid financial performance, with strong balance sheet health and revenue growth supporting the rating, but margin erosion and negative free cash flow constrain upside, while an uptrend with neutral momentum and a relatively rich valuation add both opportunity and volatility-driven risk.

Positive Factors

Revenue GrowthSteady revenue expansion indicates continuing demand for the company’s lighting offerings across residential, commercial, and industrial markets. Growth provides a durable base for scale benefits and customer development, although preserving profitability will remain important as the business expands.

Negative Factors

Gross Margin CompressionThe sharp gross-margin decline shows that recent revenue growth has not translated proportionally into economic value. If lower margins persist, they can constrain operating leverage, reduce earnings resilience, and limit the company’s ability to fund expansion from internally generated profits.

IKIO Lighting Limited (IKIO) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 13.63B
Dividend Yield: ―
Average Volume (3M): 25.65K
Price to Earnings (P/E): 28.0
Beta (1Y): 2.06
Revenue Growth: 34.55%
EPS Growth: 108.62%
Country: India
Employees: 435
Sector: General
Sector Strength: 55
Industry: Electrical Equipment & Parts

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 the I...

IKIO Lighting Limited Financial Statement Overview

Summary

Score reflects strong revenue growth, significantly improved leverage, and stable ROE, partially offset by sharp gross margin compression and persistently negative free cash flow.

Income Statement

75Positive

Balance Sheet

88Very Positive

Cash Flow

55Neutral

Financial statement breakdown
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	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	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	1.07B
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

Technical Analysis SentimentNegative

Last Price173.55

Price Trends

50DMA193.13Negative

100DMA192.55Negative

200DMA169.42Positive

Market Momentum

MACD-7.73Negative

RSI44.68Neutral

STOCH63.60Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IKIO, the sentiment is Negative. The current price of 173.55 is below the 20-day moving average (MA) of 174.54, below the 50-day MA of 193.13, and above the 200-day MA of 169.42, indicating a neutral trend. The MACD of -7.73 indicates Negative momentum. The RSI at 44.68 is Neutral, neither overbought nor oversold. The STOCH value of 63.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:IKIO.

IKIO Lighting Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:IKIO against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:IKIO	69Neutral	INR 12.97B	27.96	―	―	34.55%	108.62%
IN:EVEREADY	67Neutral	INR 22.67B	12.89	―	0.79%	9.83%	375.78%
IN:HAVELLS	65Neutral	INR 659.88B	40.35	―	0.94%	16.50%	13.65%
IN:VGUARD	62Neutral	INR 125.29B	31.23	―	0.51%	21.53%	41.20%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:FOCUS	53Neutral	INR 3.45B	64.32	―	―	14.94%	-31.55%
IN:SERVOTECH	48Neutral	INR 14.32B	33.98	―	0.03%	33.93%	102.77%

* General Sector Average

Performance Comparison

IN:IKIO and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:IKIO	IKIO Lighting Limited	173.55	-34.35	-16.52%
IN:EVEREADY	Eveready Industries India Ltd	316.95	-45.79	-12.62%
IN:FOCUS	Focus Lighting and Fixtures Ltd	56.60	-25.54	-31.09%
IN:HAVELLS	Havells India Limited	1067.10	-363.72	-25.42%
IN:SERVOTECH	Servotech Power Systems Ltd.	68.63	-44.98	-39.59%
IN:VGUARD	V-Guard Industries Limited	292.90	-76.39	-20.69%

IKIO Lighting Limited Corporate Events

IKIO Technologies Files SEBI Compliance Certificate on Dematerialized Securities

Oct 6, 2026

IKIO Technologies Limited has submitted a compliance certificate for the quarter ended 30 September 2026 under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by its registrar and transfer agent...

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.

Date of analysis: Aug 29, 2026

IKIO Lighting Limited AI Stock Analysis