Workmates Core2cloud Solution Ltd

Price story A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Workmates Core2cloud Solution Ltd is in stage 2. The phase helps read everything below.

Workmates Core2cloud Solution Ltd's share price was ₹440 at the close on 16 October 2026. It has been rising for 4 weeks. That is 24.1% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹332 and ₹470, and today it sits 78% of the way up from that low.

There is not enough history yet to compare it with the NIFTY 500.

Over the last 2 months the share price moved +28% while the NIFTY 500 moved −6%, so it is ahead of the index over that whole period. The chart below shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Valuation P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Workmates Core2cloud Solution Ltd's P/E is 35.7×, near the high end of its own history: higher than 94% of past readings. Its usual P/E (the middle reading) is 27.7×, over 0.9 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

Business trend Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Workmates Core2cloud Solution Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 4 quarters of 1 measure, with some gaps.

Why it matters: with too little history, we say so rather than guess a direction.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Revenue Revenue is everything the company billed its customers in the period.

Workmates Core2cloud Solution Ltd reported ₹69.0 Cr of revenue in the Mar 26 quarter, +15.0% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 4 years it has grown 82.4% a year on average. The last full year, FY26, came in at ₹144 Cr.

The last four reported quarters add to ₹252 Cr.

FY26 revenue was ₹144 Cr, +33.3% on the year before.

Recent pace: the last four quarters grew +35.6% on average, against 82.4% a year over the longer run, so this year is growing slower than its own long-run rate.

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

Workmates Core2cloud Solution Ltd's operating margin was 13.0% in the Mar 26 quarter, 2.0 percentage points lower than the same quarter a year ago. Across 5 years it has been between 9.0% and 17.0%. The latest quarter is within that range.

Why: the operating margin move is clear, but the cost details behind it are not in our data, so we show the move without guessing the reason.

Net profit Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

Workmates Core2cloud Solution Ltd earned ₹7.0 Cr of net profit in the Mar 26 quarter, +0.0% on the same quarter a year earlier. Full-year FY26 profit was ₹16.0 Cr. Over 4 years profit has grown 100.0% a year on average. That is 10.1% of the quarter's revenue.

For the full year, FY26 profit was ₹16.0 Cr (+14.3% on the year before).

Cash flow The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Over the last 3 years, 46% of Workmates Core2cloud Solution Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹0.0 Cr of operating cash against ₹16.0 Cr of profit. After ₹1.0 Cr of spending on assets, free cash was ₹−1.0 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

🚨 Why 46% of profit came in as cash: the cash cycle got 32 days longer between FY22 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 32 days longer. The next section looks at where the cash is stuck.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Workmates Core2cloud Solution Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 74 days in FY26, up from 42 days in FY22. It spent ₹12.0 Cr on assets over the last 3 years. Customers take 74 days to pay, and stock sits for 0 days on average.

At FY26 sales of ₹144 Cr, each day of that cycle ties up about ₹0.4 Cr, so roughly ₹29.0 Cr is tied up in the business at any time.

FY26: customers took 74 days to pay and stock sat for 0 days, about 0.0 months of sales sitting as stock, for a full cycle of 74 days, longer than FY22's 42.

Spending on assets: ₹12.0 Cr over the last 3 years, against ₹1.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹1.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Workmates Core2cloud Solution Ltd earned a ROCE of 37% in FY26. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 11.1% net margin and 1.33× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a 11.1% net margin × 1.33× asset turnover × 1.23× leverage (assets divided by equity) ≈ 18.2% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.

Debt Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

Workmates Core2cloud Solution Ltd had ₹0.0 Cr of borrowings against ₹88.0 Cr of equity in FY26, so its debt is 0.00× its equity. Its operating profit is 22 times its interest bill. Over 4 years borrowings went from ₹0.0 Cr to ₹0.0 Cr. Over the last 3 of those years it spent ₹12.0 Cr on assets.

The spending on assets is being paid for from cash, not new debt.

Ownership Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

No group of Workmates Core2cloud Solution Ltd's owners changed its stake by a full percentage point over the last two years. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Balance-sheet safety The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

For Workmates Core2cloud Solution Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

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