Smartworks Coworking Spaces Ltd
SMARTWORKSSmartworks Coworking Spaces Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
Biggest watch item: margins are the best this company has ever printed — every ratio flatters at record profitability, so the whole story leans on margins holding.
The price is building a base (7 weeks in) while the P/E sits at the 0th percentile of its own 0-year range. Underneath, the last four quarters read mixed. What settles it: the next one or two quarters of delivery.
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.
Smartworks Coworking Spaces Ltd trades at ₹471, building a base and 7 weeks into that stage. That is +2.5% against its own 200-day average. It sits at 42% of a 52-week range of ₹385 to ₹587. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.
Today the stock is building a base — week 7 of stage 1. At ₹471 it trades +2.5% versus its 200-day average and sits at 42% of its 52-week range (₹385–₹587).
Against the market, two honest reads. Cumulative: over the last 1.0 years the stock moved +3% while the NIFTY 500 moved +0% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 straight weeks — 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.
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.
Smartworks Coworking Spaces Ltd trades at 193.0× P/E, about the cheapest it has ever traded. Its long-run median P/E is 496.8×, measured across 0.2 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 193.0× is about the cheapest it has ever traded, against a long-run median of 496.8× measured over 0.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
One caveat before moving on: margins are the best this company has ever printed — cheap against its own history on record margins is not the same thing as cheap. If profitability mean-reverts, today's multiple is higher than it looks.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
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).
Smartworks Coworking Spaces 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 5 quarters across 1 curve, on partial evidence.
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.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +30.7% | +36.2% | +45.0% | — |
| Share price | +10.7% | — | — | — |
4-Factor Sector Score
43.6/100 — rank 3 of 4 in Realty - CoWorking · 54% evidence confidence
Smartworks Coworking Spaces Ltd scores 43.6 out of 100 against the 4 companies it is compared with in Realty - CoWorking, ranking 3. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
The four contributions add to the total exactly: 19 + 5.6 + 10 + 9 = 43.6. 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.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Smartworks Coworking Spaces Ltd reported ₹546 Cr of revenue in the Jun 26 quarter, +44.1% year on year. That is the 5th straight quarter of year-on-year growth. Over 6 years it has compounded at 38.5% a year. The last full year, FY26, came in at ₹1,796 Cr. The last four reported quarters add to ₹1,963 Cr.
FY26 revenue came in at ₹1,796 Cr (+30.7% on the year), capping 6 years at 38.5% compound. The latest quarter (Jun 26) printed ₹546 Cr, +44.1% year on year — the 5th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +36.2% growth against the decade's 38.5% — the current year is running slower than its own long-run rate.
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.
Smartworks Coworking Spaces Ltd's operating margin is 63.0% in the Jun 26 quarter, −1.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 7 fiscal years the operating margin has ranged 53.0% to 64.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 63.0%, −1.0 pp against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 53.0%–64.0%, and FY26's 64.0% is the top of that band — a record year.
🚨 Why the margin moved: operating margin went −0.2 pp year on year while gross margin went −0.2 pp — the loss came mostly from the gross line: input costs and pricing.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Smartworks Coworking Spaces Ltd earned ₹13.0 Cr of net profit in the Jun 26 quarter. Full-year FY26 profit was ₹11.0 Cr. That is 2.4% of the quarter's revenue. The same quarter a year earlier lost ₹4.0 Cr. 6 of the last 9 reported quarters were loss-making.
Jun 26 profit was ₹13.0 Cr, null year on year. On the full year, FY26 printed ₹11.0 Cr (null).
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.
Smartworks Coworking Spaces Ltd's cash-flow history is too thin to judge how much reported profit converts into cash. In FY26 that was ₹1,197 Cr of operating cash against ₹11.0 Cr of profit. After ₹2,204 Cr of capital spending, ₹−1,007 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.
FY26: operating cash of ₹1,197 Cr against reported profit of ₹11.0 Cr, leaving free cash of ₹−1,007 Cr after ₹2,204 Cr of capital spending.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Router verdict: the bigger cash user is investment — capital spending ran 1.8× depreciation over three years, so the next section's job is to check what that build-out is buying.
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).
Smartworks Coworking Spaces Ltd's cash conversion cycle runs 8 days in FY26, down from 9 days in FY21. Capital spending ran ₹3,456 Cr over the last 3 years. At FY26 sales of ₹1,796 Cr each day of that cycle holds about ₹4.9 Cr, so roughly ₹39.0 Cr sits inside the business at any moment.
FY26: debtors at 8 days (an asset-light business — no inventory to speak of) — for a full cycle of 8 days, tighter than FY21's 9.
In money terms: at FY26 sales of ₹1,796 Cr, each day of the cycle holds about ₹4.9 Cr — so the 8-day loop keeps roughly ₹39.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹3,456 Cr over the last 3 fiscal years against ₹1,938 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹56.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
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.
Smartworks Coworking Spaces Ltd earns a ROCE of 8% in FY26. That is up from a trough of 5% in FY23. Return on invested capital clears the cost of that capital by −6.7 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 0.6% net margin on 0.28× asset turns.
FY26 ROCE is 8%, recovered from a FY23 trough of 5% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 0.6% net margin × 0.28× asset turns × 12.20× balance-sheet leverage ≈ 2.0% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 5.3% − 12.0% = a −6.7 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. Negative — growth at these returns destroys value until the returns recover.
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.
Smartworks Coworking Spaces Ltd carries total debt of ₹4,778 Cr against shareholder equity of ₹531 Cr as of Jun 26, a debt-to-equity of 9.00. On the annual view that ratio went from 32.93 in FY25 to 9.00 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Jun 26: total debt of ₹4,778 Cr against shareholder equity of ₹531 Cr — a debt-to-equity of 9.00. On the annual view, debt-to-equity went from 32.93 (FY25) to 9.00 (FY26). Read the returns on this page with that leverage in mind.
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.
No holder of Smartworks Coworking Spaces Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — .
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.
Smartworks Coworking Spaces 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.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Wework India Management LtdWEWORK | 61.9/100Thin evidence · provisional51% evidence | TURNING | 25.6/35 Revenue 27.1% · PAT -40.6% · OPM change 1.4 pp 74% evidence | 16.3/25 ROCE 20.7% · OPM 64% 100% evidence | 10.0/20 P/E 116× · PEG — 0% evidence | 10.0/20 RS sector — · RS bench — · 1Y —10 of 11 weeks ahead 0% evidence |
| Exact sum: 25.6 + 16.3 + 10 + 10 = 61.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 2EFC (I) LtdEFCIL | 56.2/100Mixed-positive evidence72% evidence | ASLEEP | 21.4/35 Revenue 42.3% · PAT 50.6% · OPM change -4 pp 95% evidence | 20.2/25 ROCE 19.8% · OPM 43% 76% evidence | 10.0/20 P/E 11.2× · PEG — 0% evidence | 4.6/20 RS sector -18% · RS bench -22.7% · 1Y -43.6%1 of 12 weeks ahead 100% evidence |
| Exact sum: 21.4 + 20.2 + 10 + 4.6 = 56.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Smartworks Coworking Spaces Ltdthis pageSMARTWORKS | 43.6/100Thin evidence · provisional54% evidence | TURNING | 19.0/35 Revenue 36.4% · PAT 100% · OPM change -1 pp 71% evidence | 5.6/25 ROCE 8.3% · OPM 63% 95% evidence | 10.0/20 P/E 193× · PEG — 0% evidence | 9.0/20 RS sector — · RS bench -2.1% · 1Y 12.8%8 of 10 weeks ahead 25% evidence |
| Exact sum: 19 + 5.6 + 10 + 9 = 43.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 4AWFIS Space Solutions LtdAWFIS | 40.9/100Mixed-negative evidence73% evidence | ASLEEP | 19.8/35 Revenue 23.7% · PAT 4.4% · OPM change 3 pp 83% evidence | 11.1/25 ROCE 13.2% · OPM 37% 95% evidence | 10.0/20 P/E 28.1× · PEG — 0% evidence | 0.0/20 RS sector -30.4% · RS bench -35.2% · 1Y -54.2%6 of 12 weeks ahead 100% evidence |
| Exact sum: 19.8 + 11.1 + 10 + 0 = 40.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
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.
Frequently asked questions
What is Smartworks Coworking Spaces Ltd's share price today?
Smartworks Coworking Spaces Ltd trades at ₹471, +10.7% over the past year. The company is valued at ₹5,376 Cr. The stock sits at 42% of its 52-week range of ₹385–₹587, +2.5% versus its 200-day average. On the tape, the price is building a base, 7 weeks in. — as of 31 July 2026.
What were Smartworks Coworking Spaces Ltd's latest quarterly results?
Smartworks Coworking Spaces Ltd reported revenue of ₹546 Cr and net profit of ₹13.0 Cr for the Jun 26 quarter. Earnings per share were ₹1.15. The operating margin was 63.0%, 1.0 pp lower than a year earlier. — as of 31 July 2026.
What is Smartworks Coworking Spaces Ltd's revenue?
Smartworks Coworking Spaces Ltd reported revenue of ₹546 Cr in the Jun 26 quarter, +44.1% year on year. For the full FY26 fiscal year, revenue was ₹1,796 Cr (+30.7%). Over the last 6 years revenue compounded at 38.5% a year. — as of 31 July 2026.
What is Smartworks Coworking Spaces Ltd's profit?
Smartworks Coworking Spaces Ltd earned ₹13.0 Cr of net profit in the Jun 26 quarter. Full-year FY26 profit was ₹11.0 Cr. The operating margin ran 63.0% in the latest quarter. — as of 31 July 2026.
What is Smartworks Coworking Spaces Ltd's market cap?
Smartworks Coworking Spaces Ltd's market capitalisation is ₹5,376 Cr at a share price of ₹471. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.
What is Smartworks Coworking Spaces Ltd's P/E ratio?
Smartworks Coworking Spaces Ltd trades at a P/E of 193.0×, at the 0th percentile of its own 0-year range, against a long-run median of 496.8×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.
Does Smartworks Coworking Spaces Ltd pay a dividend?
No — Smartworks Coworking Spaces Ltd has recorded a dividend payout of 0% of profit in each of its last 7 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 31 July 2026.
Is Smartworks Coworking Spaces Ltd overvalued?
On its own history, Smartworks Coworking Spaces Ltd looks cheap against its own history: its P/E of 193.0× has been cheaper only 0% of the time in 0 years (long-run median 496.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 31 July 2026.
How is Smartworks Coworking Spaces Ltd performing?
Smartworks Coworking Spaces Ltd is building a base, 7 weeks in. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 31 July 2026.
Is Smartworks Coworking Spaces Ltd in an uptrend?
No — the price is building a base (week 7 of stage 1), trading +2.5% versus its 200-day average and at 42% 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 31 July 2026.
Is Smartworks Coworking Spaces Ltd beating the market?
On recent form, yes — Smartworks Coworking Spaces Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 1.0 years the stock moved +3% against the NIFTY 500's +0% — ahead of the index over the full window. — as of 31 July 2026.
Will Smartworks Coworking Spaces Ltd's share price go up?
This page publishes no price forecast for Smartworks Coworking Spaces Ltd. What it measures instead: the share price is ₹471, the price is building a base 7 weeks in. Its P/E of 193.0× sits at the 0th percentile of its own 0-year range. — as of 31 July 2026.
Who owns Smartworks Coworking Spaces Ltd?
Promoters hold 58.3% of Smartworks Coworking Spaces Ltd, foreign institutions 0.3%, domestic institutions 8.9% and the public 32.5% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 31 July 2026.
Does Smartworks Coworking Spaces Ltd have too much debt?
It carries real leverage — Smartworks Coworking Spaces Ltd's debt-to-equity is 9.02, and operating profit covers the interest bill 3×. FY26 borrowings were ₹4,778 Cr against equity of ₹530 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.
What is Smartworks Coworking Spaces Ltd's capex?
Smartworks Coworking Spaces Ltd spent ₹3,456 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹2,204 Cr, with ₹56.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.
What is Smartworks Coworking Spaces Ltd's cash flow?
Smartworks Coworking Spaces Ltd generated ₹1,197 Cr of operating cash flow in FY26 and ₹−1,007 Cr of free cash flow after ₹2,204 Cr of capital spending. Reported profit that year was ₹11.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.
Where is Smartworks Coworking Spaces Ltd in its business cycle?
Smartworks Coworking Spaces Ltd's FY26 operating margin was 64.0%, against a 7-year band of 53.0%–64.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 63.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.
What could break the Smartworks Coworking Spaces Ltd story?
Biggest watch item: margins are the best this company has ever printed — every ratio flatters at record profitability, so the whole story leans on margins holding. 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 31 July 2026.
Is Smartworks Coworking Spaces Ltd a stock worth studying right now?
This is not investment advice. The machine read: Smartworks Coworking Spaces Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.