Sector Alpha Week of 2026-08-14
Sector Alpha — machine-written from the numbers · Data as of 2026-08-14

Inventurus Knowledge Solutions Ltd

IKS
IT Enabled Services/Business Process Outsourcing

Inventurus Knowledge Solutions Ltd is coiled. The quarters are improving, yet the P/E sits at the 9th percentile of its own 2-year range — the business is moving before the market.

The sharpest disagreement: annual EPS moved +48.4% against a +18.1% price move — the market has not yet caught up with the delivery.

The price is in a confirmed uptrend (10 weeks in) while the P/E sits at the 9th percentile of its own 2-year range. Underneath, the last four quarters read improving — profit +27.6% year on year, and 76% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Price
₹1,840
+18.1% 1Y
P/E
41.4×
9th pctile
of its own 2-year range
Revenue (Jun 26)
₹894 Cr
+20.8% YoY
Profit (Jun 26)
₹194 Cr
+27.6% YoY
Operating margin
32.0%
flat YoY
ROCE
27%
FY26
ROIC
27.5%
vs WACC 12.0% → +15.5 pp
Cash conversion
76%
of profit, last 3 FY
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Inventurus Knowledge Solutions Ltd trades at ₹1,840, in a confirmed uptrend and 10 weeks into that stage. That is +10.7% against its own 200-day average. It sits at 85% of a 52-week range of ₹1,327 to ₹1,928. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week.

Today the stock is in a confirmed uptrend — week 10 of stage 2, confirmed. At ₹1,840 it trades +10.7% versus its 200-day average and sits at 85% of its 52-week range (₹1,327–₹1,928).

Aug 26: ₹1,840 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 2-year window.
+10.7% versus the 200-day line, week 10 of stage 2
Price50-day avg200-day avg
S4S2S4S2₹2,060₹1,863₹1,666₹1,470₹1,273₹1,840₹1,662Dec 24May 25Nov 25Apr 26Aug 26
S4S2S4S2₹2,060₹1,863₹1,666₹1,470₹1,273₹1,840₹1,662Dec 24Nov 25Aug 26
Beating or trailing, week by week since 2024 Each cell is one week from 2024 to now (93 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Dec 24Aug 26

Against the market, two honest reads. Cumulative: over the last 1.7 years the stock moved −2% while the NIFTY 500 moved +5% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 1 straight week — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Story check

Story check

Inventurus Knowledge Solutions Ltd's story is not scored yet against the markers our research file set on 14 June 2026. Where it sits in its own cycle: Not stated in the research file. Still open: 3 public commitment reversals in 6 weeks across debt, integration timeline, and EHR thesis Our fortnightly research layers last read it on 19 July 2026.

NOT YET CHECKED

Our read, 14 June 2026. US healthcare RCM platform at 0th-percentile PE (earnings-driven compression) with Acuity operating leverage now flowing through; TrueBridge acquisition creates 3x debt and integration execution risk for 4 quarters.

What is proven. US healthcare RCM platform at 0th-percentile PE (earnings-driven compression) with Acuity operating leverage now flowing through; TrueBridge acquisition creates 3x debt and integration execution risk for 4 quarters.

What is not proven yet. 3 public commitment reversals in 6 weeks across debt, integration timeline, and EHR thesis

Layer 1 read, 19 July 2026 — KEEP. Earnings-driven PE compression at a trough while operating leverage flows — the winner setup, tempered by TrueBridge management flip-flops. PE sits at the 13th percentile of its own history purely because EPS grew 93% over eight quarters while the multiple fell 50% — the market has not caught up to the post-Acuity earnings base, not a broken story. Revenue rose every quarter to 858 cr and margins stepped from 27% to 34% as headcount grew only 5.3% against 20% revenue growth, a genuine operating-leverage inflection. The caveat is three management consistency failures on the TrueBridge acquisition (debt, timeline, and EHR thesis all reversed within weeks), which cap conviction but do not break the core RCM engine.

What would change Layer 1’s mind. EBITDA margin below 30% for two consecutive quarters post-TrueBridge close, OR a fourth TrueBridge commitment reversal / integration-milestone miss — either would turn the management-consistency caveat into a broken thesis.

Layer 2 read, 19 July 2026 — ADVANCE. Sector says AVOID on AI killing BPO arbitrage — but IKS is the AI-beneficiary healthcare-RCM exception, cheap because EPS grew faster than PE. The ITES/BPO sector tri-stream is a hard AVOID/DECLINING on AI cannibalizing the labor-arbitrage core [sector_timeline Q2/Q3], but IKS's PE compressed because EPS grew 93% over 8Q while PE fell 50% with OPM stepping 27%->34% — earnings-led, not price collapse. SOIC (rel 1.00) explicitly flags IKS Health as an AI-BENEFICIARY 'Process Specialist' in mission-critical healthcare, and the sector verdict itself concedes its AVOID is distorted by a 6-name basket and broad social that talk past IKS.

What would change Layer 2’s mind. A stock-specific finding that IKS's OWN revenue/OPM is AI-exposed — e.g. the AI-native autonomous-coding driver commoditizing IKS's own pricing (ambient-scribing deflation risk in Timeline), OR TrueBridge integration blowing up (3x leverage) so PAT/OCF stall — would flip ADVANCE toward DROP. The broad sector AVOID alone does not.

Layer 3 read, 19 July 2026 — DEPLOY. Sector AI-threat does NOT bind IKS's outcome-based healthcare RCM; leverage is self-funding — the real caveat is TrueBridge integration credibility. The L2 sector-threat lead targets labor-arbitrage BPO, but IKS is a US healthcare-RCM platform that is AI-augmenting, not being displaced — its own search surfaces an agentic-AI 'Expert-in-the-Loop' partnership, and revenue still grew +18.5%. The scary 3x leverage is deal-funded and self-liquidating: debt/equity already fell 1.13->0.48 and operating cash flow nearly doubled. The genuine flag is management: three public commitment reversals on the TrueBridge deal in six weeks, which keeps this a WATCHLIST rather than a full-conviction PASS.

What would change Layer 3’s mind. A confirmed systemic (not 'selective') RCM pricing collapse, a HIPAA/PHI breach event, OR TrueBridge integration slipping such that leverage stops de-levering (OCF reversing lower with debt static) would escalate labor/cyber/leverage to HIGH and flip DEPLOY to DROP.

The test written in advance. A confirmed systemic (not 'selective') RCM pricing collapse, a HIPAA/PHI breach event, OR TrueBridge integration slipping such that leverage stops de-levering (OCF reversing lower with debt static) would escalate labor/cyber/leverage to HIGH and flip DEPLOY to DROP. — the thesis as written as stated by the next result — from our Layer 3 read of 19 Jul 2026.

🚨 What the surface reading misses. The surface reading is: PE 39.9x — on an absolute basis appears expensive for a services company The research reads it further: PE contracted 50% (79.7x → 39.9x) while EPS grew 93% (₹5.57 → ₹12.00 over 8Q). The PE is low BECAUSE earnings grew into it; the multiple never re-rated upward from IPO, meaning the market has NOT priced in the post-Acuity operating leverage yet. The pe_decomposition field is 'EARNINGS_DRIVEN' — confirming EPS drove the change, not sentiment de-rating.

🚨 What the surface reading misses. The surface reading is: ROCE at 27% (FY25) — below cost of capital threshold concerns; compressed vs 47–50% prior levels The research reads it further: ROCE compression from 47% to 27% coincides exactly with the Acuity acquisition (closed FY24): $560M acquisition funded by debt diluted the return denominator while integration costs suppressed operating profit. The recovery to 36.9% (FY26) is the post-integration operating leverage materializing. This is a textbook acquisition-dilution-then-recovery pattern, not structural margin compression.

Sources: our stock research file (14 June 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

03 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Inventurus Knowledge Solutions Ltd reported ₹894 Cr of revenue in the Jun 26 quarter, +20.8% year on year. That is the 7th straight quarter of year-on-year growth. Over 6 years it has compounded at 34.9% a year. The last full year, FY26, came in at ₹3,194 Cr. The last four reported quarters add to ₹3,348 Cr.

FY26 revenue came in at ₹3,194 Cr (+19.9% on the year), capping 6 years at 34.9% compound. The latest quarter (Jun 26) printed ₹894 Cr, +20.8% year on year — the 7th consecutive quarter of year-over-year growth.

FY26 revenue ₹3,194 Cr (+19.9% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 7-year window. A bar is red when it is lower than the year before.
34.9% a year over 6 years
RevenueYoY growth
3.4k82%2.6k61%1.7k40%86220%0−1.2%₹ Cr%₹3,19419.9%FY20FY23FY26
3.4k82%2.6k61%1.7k40%86220%0−1.2%₹ Cr%₹3,19419.9%FY20FY23FY26
Jun 26: ₹894 Cr (+20.8% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
7th straight quarter of growth
Revenue (quarterly)YoY growth
96625%72422%48320%24117%015%₹ Cr%₹89420.8%Dec 23Mar 25Jun 26
96625%72422%48320%24117%015%₹ Cr%₹89420.8%Dec 23Mar 25Jun 26

Pace check: the last four quarters averaged +21.2% growth against the decade's 34.9% — the current year is running slower than its own long-run rate.

FY26-Q4. revenue ₹858 Cr and profit ₹206 Cr as reported.

FY27-Q1. revenue ₹894 Cr and profit ₹194 Cr as reported.

Why-sources: our stock research file (14 June 2026) and the company’s own results for those quarters.

04 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Inventurus Knowledge Solutions Ltd's operating margin is 32.0% in the Jun 26 quarter, +0.0 percentage points against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 29.0% to 39.0%. The current quarter sits inside that band.

Why this happened. CMS keeping Medicare Advantage rates flat creates margin pressure on risk-bearing providers, increasing demand for IKS value-based care solutions. The 17% vs 80% obesity coding gap cited by management represents a concrete risk-capture opportunity through improved clinical documentation. TAM: $260B US healthcare task TAM, $35B outsourced portion growing 12% annually.

The latest quarter's operating margin is 32.0%, +0.0 pp against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 29.0%–39.0%.

Why the margin moved: operating margin went +0.3 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

FY26: 34.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 7-year window.
within a 29.0–39.0% band over 7 years
operating marginYoY change (pp)
40%7.2%37%2.9%34%−1.5%31%−5.8%28%−10%%%34%5%FY20FY23FY26
40%7.2%37%2.9%34%−1.5%31%−5.8%28%−10%%%34%5%FY20FY23FY26
Jun 26: 32.0% operating margin (+0.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
36%12%32%8.5%28%5.0%23%1.5%19%−2.0%%%32%0%Dec 23Mar 25Jun 26
36%12%32%8.5%28%5.0%23%1.5%19%−2.0%%%32%0%Dec 23Mar 25Jun 26

FY26-Q4. revenue ₹858 Cr and profit ₹206 Cr as reported.

FY27-Q1. revenue ₹894 Cr and profit ₹194 Cr as reported.

Why-sources: our stock research file (14 June 2026) and the company’s own results for those quarters.

05 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Inventurus Knowledge Solutions Ltd earned ₹194 Cr of net profit in the Jun 26 quarter, +27.6% year on year. It is the 7th consecutive quarter of growth. Full-year FY26 profit was ₹722 Cr. The 6-year compound rate is 31.9%. That is 21.7% of the quarter's revenue. The same quarter a year earlier earned ₹152 Cr.

Jun 26 profit was ₹194 Cr, +27.6% year on year — the 7th consecutive quarter of growth. On the full year, FY26 printed ₹722 Cr (+48.6%), and the 6-year compound rate is 31.9%.

FY26 profit ₹722 Cr (+48.6% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 7-year window. A bar is red when it is lower than the year before.
31.9% a year over 6 years
Net profitYoY growth
78051%58543%39035%19526%018%₹ Cr%₹72248.6%FY20FY23FY26
78051%58543%39035%19526%018%₹ Cr%₹72248.6%FY20FY23FY26
Jun 26: ₹194 Cr (+27.6% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
7th straight quarter of growth
Net profit (quarterly)YoY growth
222140%167110%11179%5649%019%₹ Cr%₹19427.6%Dec 23Mar 25Jun 26
222140%167110%11179%5649%019%₹ Cr%₹19427.6%Dec 23Mar 25Jun 26

Why profit moved: revenue contributed +20.8% and the margin +0.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +41.9% vs revenue +21.2%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

FY26-Q4. revenue ₹858 Cr and profit ₹206 Cr as reported.

FY27-Q1. revenue ₹894 Cr and profit ₹194 Cr as reported.

Why-sources: our stock research file (14 June 2026) and the company’s own results for those quarters.

06 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 76% of Inventurus Knowledge Solutions Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹674 Cr of operating cash against ₹722 Cr of profit. Cash resolution here is annual, because quarterly cash statements are not published.

FY26: operating cash of ₹674 Cr against reported profit of ₹722 Cr. Across the last 3 fiscal years the conversion rate is 76% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹674 Cr vs profit ₹722 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 7-year window, annual resolution. FY24 reflects an acquisition year — point shown clipped.
76% of 3-year profit arrived as cash
Operating cashNet profitFree cash
7805853901950₹ Cr₹674₹722₹238FY20FY23FY26
7805853901950₹ Cr₹674₹722₹238FY20FY23FY26
FY26: CFO = 93% of profit (three-year rate 76%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
124%106%88%70%52%%93%FY20FY23FY26
124%106%88%70%52%%93%FY20FY23FY26

Why conversion sits at 76%: the cash cycle stretched 22 days between FY20 and FY25 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: conversion is below par and the cash cycle has stretched 22 days — the next section's job is to find where the cash is stuck.

07 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Inventurus Knowledge Solutions Ltd's cash conversion cycle runs 73 days in FY25, up from 51 days in FY20. Capital spending ran ₹1,924 Cr over the last 3 years. At FY26 sales of ₹3,194 Cr each day of that cycle holds about ₹8.8 Cr, so roughly ₹639 Cr sits inside the business at any moment.

FY25: debtors at 73 days (an asset-light business — no inventory to speak of) — for a full cycle of 73 days, looser than FY20's 51.

In money terms: at FY26 sales of ₹3,194 Cr, each day of the cycle holds about ₹8.8 Cr — so the 73-day loop keeps roughly ₹639 Cr sitting inside the business at any moment.

FY25: a 73-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 6-year window.
+22 days vs FY20
Cash cycleDebtor days
7567605244days73d73dFY20FY21FY22FY23FY25
7567605244days73d73dFY20FY22FY25

On the investment side: capital spending of ₹1,924 Cr over the last 3 fiscal years against ₹197 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹13.0 Cr (FY25) — capacity paid for but not yet earning.

FY25: capex ₹80.0 Cr, work-in-progress ₹13.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
2.0k1.5k9914960₹ Cr₹80₹13FY21FY22FY23FY24FY25
2.0k1.5k9914960₹ Cr₹80₹13FY21FY23FY25

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

08 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Inventurus Knowledge Solutions Ltd earns a ROCE of 27% in FY25. Return on invested capital clears the cost of that capital by +15.5 percentage points, so growth here adds value rather than only size. The wiring behind it is 18.2% net margin on 0.91× asset turns.

FY25 ROCE is 27%.

Why the return is what it is — the wiring (FY25): 18.2% net margin × 0.91× asset turns × 1.63× balance-sheet leverage ≈ 27.0% on equity. Margin is doing the heavy lifting; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 27.5% − 12.0% = a +15.5 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

FY25: ROCE 27% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 5-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the full ladder
ROCEROIC (annual)WACC
99%75%52%29%5.6%%27%23.7%FY21FY23FY25
99%75%52%29%5.6%%27%23.7%FY21FY23FY25
Q4 FY26: ROCE 30.4% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 8 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
32%27%21%16%11%%30.4%27.9%Q4 FY24Q4 FY25Q4 FY26
32%27%21%16%11%%30.4%27.9%Q4 FY24Q4 FY25Q4 FY26
09 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Inventurus Knowledge Solutions Ltd carries total debt of ₹753 Cr against shareholder equity of ₹2,800 Cr as of Mar 26, a debt-to-equity of 0.27 — effectively unlevered. On the annual view that ratio went from 1.13 in FY24 to 0.27 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Why this happened. Acuity acquisition integration declared complete in Oct 2025 — 25 months post-acquisition. FY26 demonstrated the leverage: headcount 13,331 (+5.3% YoY) while revenue grew 20%, delivering EBITDA ₹1,091Cr (34% margin, +28% YoY) and PAT ₹722Cr (+48% YoY). The non-linearity — 5.3% headcount vs 20% revenue — is the operating leverage the market is now pricing.

Mar 26: total debt of ₹753 Cr against shareholder equity of ₹2,800 Cr — a debt-to-equity of 0.27. On the annual view, debt-to-equity went from 1.13 (FY24) to 0.27 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹753 Cr at 0.27× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 3-year window.
Total debtDebt-to-equity
1.4k1.2×1.1k0.9×7080.7×3540.5×00.2×₹ Cr×₹7530.27×FY24FY25FY26
1.4k1.2×1.1k0.9×7080.7×3540.5×00.2×₹ Cr×₹7530.27×FY24FY25FY26
Mar 26: debt ₹753 Cr, debt-to-equity 0.27 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 8 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
1.4k1.2×1.1k0.9×7080.6×3540.3×00.0×₹ Cr×₹7530.27×Jun 23Mar 25Mar 26
1.4k1.2×1.1k0.9×7080.6×3540.3×00.0×₹ Cr×₹7530.27×Jun 23Mar 25Mar 26
10 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Domestic institutions added 3.0 points of Inventurus Knowledge Solutions Ltd over 6 quarters, the biggest move on the register. That takes domestic institutions to 7.5% of the company. Foreign institutions moved +2.5 points over the same window, to 8.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: +3.0 points over 6 quarters to 7.5%; Foreign institutions: +2.5 points over 6 quarters to 8.0%; Promoters: +0.0 points over 6 quarters to 63.7%.

Why the register moved: domestic institutions drove it (+3.0 points), alongside foreign institutions (+2.5 points) — steady accumulation by institutions reading the same numbers this page reads.

Fiscal-year ends: promoters +0.0 pts from Mar 25 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 2 year-ends held.
PromotersForeign inst.Domestic inst.Public
68%51%34%17%−0.8%%63.7%8.2%6.4%19.4%Mar 25Mar 26
68%51%34%17%−0.8%%63.7%8.2%6.4%19.4%Mar 25Mar 26
Domestic institutions added 3.0 points over 6 quarters Shareholding by holder class, % of the company, quarterly, last 7 quarters.
PromotersForeign inst.Domestic inst.Public
68%51%34%17%−0.8%%63.7%8.0%7.5%18.6%Dec 24Sep 25Jun 26
68%51%34%17%−0.8%%63.7%8.0%7.5%18.6%Dec 24Sep 25Jun 26
11 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Inventurus Knowledge Solutions Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

12 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Inventurus Knowledge Solutions Ltd trades at 41.4× P/E, near the bottom of its own range — cheaper only 9% of the time. Its long-run median P/E is 50.0×, measured across 1.7 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 41.4× is near the bottom of its own range — cheaper only 9% of the time, against a long-run median of 50.0× measured over 1.7 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 41.4× vs a 50.0× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 1.7-year window; loss-period spikes above 90× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
near the bottom of its own range — cheaper only 9% of the time
P/EMedianEPS (TTM) (quarterly)
94.0×₹48.078.0×₹36.062.0×₹24.046.0×₹12.030.0×₹0.0×41.40×₹44Dec 24Apr 25Aug 25Dec 25Aug 26
94.0×₹48.078.0×₹36.062.0×₹24.046.0×₹12.030.0×₹0.0×41.40×₹44Dec 24Aug 25Aug 26
PEG 0.87 PEG ratio per quarter — the P/E divided by the earnings-growth rate. The dashed line marks 1.0: below it the growth is cheap against the multiple, above it the price already prices the growth in. Last 5 quarters.
below 1.0, the growth looks cheap against the multiple
PEGPEG = 1.0
1.3×1.2×1.1×0.9×0.8××0.87×Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26
1.3×1.2×1.1×0.9×0.8××0.87×Q4 FY25Q2 FY26Q4 FY26
P/E
41.4×
9th percentile of 2y
PEG
1.27
as reported

Why the multiple sits where it does: over the past year annual EPS moved +48.4% against a +18.1% price move — earnings outran the price, pushing the multiple DOWN its own range.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

13 · Stage: No read

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Inventurus Knowledge Solutions Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 7 quarters across 1 curve, on partial evidence.

Growth, year by year: revenue +19.9% in FY26, profit +48.6% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
82%60%61%19%40%−22%20%−63%−1.2%−105%%%19.9%48.6%FY20FY23FY26
82%60%61%19%40%−22%20%−63%−1.2%−105%%%19.9%48.6%FY20FY23FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
25%140%22%110%20%79%17%49%15%19%%%20.8%27.6%40.9%Dec 23Mar 25Jun 26
25%140%22%110%20%79%17%49%15%19%%%20.8%27.6%40.9%Dec 23Mar 25Jun 26
ROCE Trailing-twelve-month operating profit (before interest and tax) as a share of average capital employed — total assets minus current liabilities, the standard textbook basis, %.
the return curve, computed quarterly
ROCE
36%34%31%28%25%%33.5%Dec 23Jun 24Mar 25Sep 25Jun 26
36%34%31%28%25%%33.5%Dec 23Mar 25Jun 26
ROCE
Steady high
latest 33.5% · span 26.2%–35.5%

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+19.9%+45.8%+42.0%
Profit+48.6%+33.3%+34.3%
EPS+48.4%+33.0%−26.8%
Share price+18.1%
Revenue YoY (Jun 26)
+20.8%
latest quarter vs a year ago
Profit YoY (Jun 26)
+27.6%
latest quarter vs a year ago
Revenue 10y
34.9%
long-run compound pace
14 · 4-Factor Sector Score

4-Factor Sector Score

79.1/100 — rank 1 of 6 in IT Enabled Services/Business Process Outsourcing · 93% evidence confidence

Inventurus Knowledge Solutions Ltd scores 79.1 out of 100 against the 6 companies it is compared with in IT Enabled Services/Business Process Outsourcing, ranking 1. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.

The four contributions add to the total exactly: 25.3 + 19.2 + 15.4 + 19.2 = 79.1. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

15 · Said versus delivered

Said versus delivered

What Inventurus Knowledge Solutions Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

TrueBridge EHR Market Growth Expectations Reversed · 14 May 2026. In the Apr 2026 TrueBridge acquisition announcement call, management explicitly identified EHR expansion into the 50 to 200 bed hospital segment as one of two concrete growth vectors arising from EHR modernization, incorporating it as a named pillar of the acquisition thesis. In the May 2026 Q4 FY26 earnings call, management stated that dramatic EHR market share growth should not be expected and explicitly told investors not to bank on it as a thesis - a direct reversal delivered without any explanation of what changed in the intervening weeks, which would meaningfully affect how analysts model TrueBridge revenue contribution over the investment horizon.

Net Debt-Free FY'27 Target Abandoned · 24 April 2026. The CFO explicitly committed to being net debt-free by FY '27 in the Oct 2025 call, and the Feb 2026 call further confirmed debt reduction as a near-term priority, with net debt already declining to ~$35M. The April 2026 TrueBridge acquisition—announced without any prior investor signaling—takes total IKS debt to ~$600M at closing, a complete and abrupt reversal of this stated financial commitment. Later call (Apr 2026): “This will lead to a total debt of a little under 600 million dollars for IKS at the time of closing.”

'Not Overleveraging Balance Sheet' Principle Directly Contradicted · 24 April 2026. In the Feb 2026 call, CEO Sachin Gupta explicitly stated 'not overleveraging our balance sheet at all' as a core operating discipline—just two months before the TrueBridge announcement. The acquisition results in leverage 'a little over 3x EBITDA,' which the CEO himself concedes in the April 2026 call is 'more than I generally like,' directly contradicting this recently stated position. Earlier call (Feb 2026): “We are trying to continue to drive industry-leading growth in a capital-efficient manner, not overleveraging our balance sheet at all, and do deals that are fundamentally differentiated”. Later call (Apr 2026): “Our starting leverage is a little over 3x EBITDA, which is more than I generally like, but given the strategic rationale and the pace of deleveraging, we feel comfortable.”

🚨 Stated Caution on System-of-Record Valuations Reversed Within Months · 24 April 2026. In the Feb 2026 call, Sachin Gupta explicitly cited 'hype on valuations' as grounds for being 'generally pretty conservative' and 'careful' about system-of-record acquisitions. Within approximately three months, IKS announced a $557M definitive agreement for TrueBridge—a hospital system-of-record—with management itself acknowledging TrueBridge had twice failed at globalizing its RCM operations and faced ongoing revenue growth and retention challenges. Earlier call (Feb 2026): “the market has such hype on valuations right now and we are generally pretty conservative, so we”. Later call (Apr 2026): “IKS is buying TrueBridge for an enterprise value of 557 million dollars... they have tried twice in the past to globalize their RCM operations and were less than successful.”

Every quote above is taken word for word from the company’s own earnings calls.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Inventurus Knowledge Solutions Ltdthis pageIKS 79.1/100Favorable setup93% evidence TURNING 25.3/35 Revenue 21.1% · PAT 40.7% · OPM change 0 pp 100% evidence 19.2/25 ROCE 36.9% · OPM 32% 100% evidence 15.4/20 P/E 41.4× · PEG 0.84 65% evidence 19.2/20 RS sector 16.6% · RS bench 12.1% · 1Y 15%11 of 12 weeks ahead 100% evidence
Exact sum: 25.3 + 19.2 + 15.4 + 19.2 = 79.1 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Brightcom Group LtdBCG 50.4/100Mixed-positive evidence74% evidence TURNING 22.3/35 Revenue 33.3% · PAT 33.1% · OPM change 1 pp 95% evidence 12.0/25 ROCE 14.9% · OPM 27% 95% evidence 11.5/20 P/E 2× · PEG — 15% evidence 4.6/20 RS sector -9.8% · RS bench -13.9% · 1Y -34.8%4 of 12 weeks ahead 70% evidence
Exact sum: 22.3 + 12 + 11.5 + 4.6 = 50.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Vakrangee LtdVAKRANGEE 36.8/100Mixed-negative evidence80% evidence BASING 15.4/35 Revenue -8.8% · PAT 34.5% · OPM change 0.5 pp 95% evidence 7.2/25 ROCE 7.5% · OPM 11.9% 95% evidence 9.7/20 P/E 60.1× · PEG — 15% evidence 4.5/20 RS sector -15.2% · RS bench -18.9% · 1Y -32.7%1 of 12 weeks ahead 100% evidence
Exact sum: 15.4 + 7.2 + 9.7 + 4.5 = 36.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Digitide Solutions LtdDIGITIDE 26.0/100Adverse evidence61% evidence TURNING 6.0/35 Revenue 7.7% · PAT -80% · OPM change -1.3 pp 83% evidence 4.0/25 ROCE 10.3% · OPM 9.9% 95% evidence 8.5/20 P/E 1321× · PEG — 15% evidence 7.5/20 RS sector — · RS bench -19.2% · 1Y -50.7%2 of 10 weeks ahead 25% evidence
Exact sum: 6 + 4 + 8.5 + 7.5 = 26 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Colab Platforms LtdCOLAB 62.8/100Thin evidence · provisional50% evidence 22.8/35 Revenue 100% · PAT 100% · OPM change -2.4 pp 53% evidence 13.9/25 ROCE 16.6% · OPM 0% 57% evidence 9.1/20 P/E 730× · PEG — 15% evidence 17.0/20 RS sector 81.8% · RS bench 57.4% · 1Y 175.7%6 of 12 weeks ahead to 2026-03-08 70% evidence
Exact sum: 22.8 + 13.9 + 9.1 + 17 = 62.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6Fractal Analytics LtdFRACTAL 53.3/100Thin evidence · provisional38% evidence ASLEEP 20.5/35 Revenue — · PAT — · OPM change 2 pp 45% evidence 12.5/25 ROCE 12.6% · OPM 13% 76% evidence 10.3/20 P/E 43.2× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —0 of 6 weeks ahead 0% evidence
Exact sum: 20.5 + 12.5 + 10.3 + 10 = 53.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

17 · Frequently asked questions

Frequently asked questions

What is Inventurus Knowledge Solutions Ltd's share price today?

Inventurus Knowledge Solutions Ltd trades at ₹1,840, +18.1% over the past year. The company is valued at ₹31,586 Cr. The stock sits at 85% of its 52-week range of ₹1,327–₹1,928, +10.7% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 10 weeks in. — as of 14 August 2026.

What were Inventurus Knowledge Solutions Ltd's latest quarterly results?

Inventurus Knowledge Solutions Ltd reported revenue of ₹894 Cr and net profit of ₹194 Cr for the Jun 26 quarter. Revenue rose 20.8% and profit rose 27.6% year on year. Earnings per share were ₹11.29. The operating margin was 32.0%, 0.0 pp higher than a year earlier. — as of 14 August 2026.

What is Inventurus Knowledge Solutions Ltd's revenue?

Inventurus Knowledge Solutions Ltd reported revenue of ₹894 Cr in the Jun 26 quarter, +20.8% year on year. For the full FY26 fiscal year, revenue was ₹3,194 Cr (+19.9%). Over the last 6 years revenue compounded at 34.9% a year. — as of 14 August 2026.

What is Inventurus Knowledge Solutions Ltd's profit?

Inventurus Knowledge Solutions Ltd earned ₹194 Cr of net profit in the Jun 26 quarter, +27.6% year on year — the 7th straight quarter of growth. Full-year FY26 profit was ₹722 Cr. The operating margin ran 32.0% in the latest quarter. — as of 14 August 2026.

What is Inventurus Knowledge Solutions Ltd's market cap?

Inventurus Knowledge Solutions Ltd's market capitalisation is ₹31,586 Cr at a share price of ₹1,840. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 14 August 2026.

What is Inventurus Knowledge Solutions Ltd's P/E ratio?

Inventurus Knowledge Solutions Ltd trades at a P/E of 41.4×, at the 9th percentile of its own 2-year range, against a long-run median of 50.0×. This is a comparison with the stock's own history, not a value call — as of 14 August 2026.

Does Inventurus Knowledge Solutions Ltd pay a dividend?

Not in its latest year — Inventurus Knowledge Solutions Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 3 of its last 7 reported fiscal years, so there is a history but no current dividend. — as of 14 August 2026.

Is Inventurus Knowledge Solutions Ltd overvalued?

On its own history, Inventurus Knowledge Solutions Ltd looks cheap: its P/E of 41.4× has been cheaper only 9% of the time in 2 years (long-run median 50.0×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 14 August 2026.

Is Inventurus Knowledge Solutions Ltd growing?

Yes — Inventurus Knowledge Solutions Ltd is growing: latest-quarter revenue +20.8% year on year, profit +27.6%, and the margin +0.0 pp at 32.0%. The 6-year compound rates are 34.9% (revenue) and 31.9% (profit). The earnings engine currently reads: improving — as of 14 August 2026.

How is Inventurus Knowledge Solutions Ltd performing?

Inventurus Knowledge Solutions Ltd is in a confirmed uptrend, 10 weeks in. Its latest quarter's revenue rose 20.8% and profit rose 27.6% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 1 week. This describes what the data did, not a rating. — as of 14 August 2026.

Is Inventurus Knowledge Solutions Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 10 of stage 2), trading +10.7% versus its 200-day average and at 85% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 14 August 2026.

Is Inventurus Knowledge Solutions Ltd beating the market?

On recent form, yes — Inventurus Knowledge Solutions Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 1.7 years the stock moved −2% against the NIFTY 500's +5% — behind the index over the full window. — as of 14 August 2026.

Will Inventurus Knowledge Solutions Ltd's share price go up?

This page publishes no price forecast for Inventurus Knowledge Solutions Ltd. What it measures instead: the share price is ₹1,840, the price is in a confirmed uptrend 10 weeks in. Its P/E of 41.4× sits at the 9th percentile of its own 2-year range. — as of 14 August 2026.

Who owns Inventurus Knowledge Solutions Ltd?

Promoters hold 63.7% of Inventurus Knowledge Solutions Ltd, foreign institutions 8.0%, domestic institutions 7.5% and the public 18.6% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 3.0 points over 6 quarters. — as of 14 August 2026.

Does Inventurus Knowledge Solutions Ltd have too much debt?

It is moderate — Inventurus Knowledge Solutions Ltd's debt-to-equity is 0.48, and operating profit covers the interest bill 16×. FY25 borrowings were ₹856 Cr against equity of ₹1,790 Cr. Read the returns on this page with that leverage in mind — as of 14 August 2026.

What is Inventurus Knowledge Solutions Ltd's capex?

Inventurus Knowledge Solutions Ltd spent ₹1,924 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was ₹80.0 Cr, with ₹13.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 14 August 2026.

What is Inventurus Knowledge Solutions Ltd's cash flow?

Inventurus Knowledge Solutions Ltd generated ₹674 Cr of operating cash flow in FY26. Reported profit that year was ₹722 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 14 August 2026.

Is Inventurus Knowledge Solutions Ltd's profit real cash?

Mostly — over the last 3 fiscal years, 76% of Inventurus Knowledge Solutions Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹674 Cr against reported profit of ₹722 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 14 August 2026.

Where is Inventurus Knowledge Solutions Ltd in its business cycle?

Inventurus Knowledge Solutions Ltd's FY26 operating margin was 34.0%, against a 7-year band of 29.0%–39.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 32.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 14 August 2026.

What could break the Inventurus Knowledge Solutions Ltd story?

The sharpest disagreement: annual EPS moved +48.4% against a +18.1% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 14 August 2026.

Is Inventurus Knowledge Solutions Ltd a stock worth studying right now?

This is not investment advice. The machine read: Inventurus Knowledge Solutions Ltd is coiled. The quarters are improving, yet the P/E sits at the 9th percentile of its own 2-year range — the business is moving before the market. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 14 August 2026.

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