IKIO Technologies Limited (IKIO)
₹185.27 +1.96% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, IKIO Technologies' revenue was ₹169 Cr (+41.1% year on year, +2.6% on the previous quarter), and net profit ₹11.0 Cr (+452.3% year on year); the operating margin was 13.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹169 | +41.1% | +2.6% |
| Operating profit | ₹22.0 | +99.6% | -15.5% |
| Net profit | ₹11.0 | +452.3% | -38.6% |
| EPS (₹) | 1.40 | +418.5% | -34.3% |
| Operating margin | 13.0% | — | — |
IKIO delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 40.34% of the IKIO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 40.15%. That is close to its usual level. Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 29.8% · 34.9% · 37.0% · 48.7% · 40.3%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
IKIO Technologies Limited submitted its Reconciliation of Share Capital Audit Report under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The report, issued by MAKS & CO., confirms that the company's issued and listed capital stands at 7,72,80,701 equity shares of Rs 10 face value each. Exactly 100% of the shares are held in dematerialised form across NSDL (85.35%) and CDSL (14.65%), with zero physical shares outstanding. There were no discrepancies reported between issued, listed, and depository capital.
- Issued and listed share capital reconciled at 7,72,80,701 equity shares of face value Rs 10
- 85.3487% of total capital (6,59,58,072 shares) held with NSDL
- 14.6513% of total capital (1,13,22,629 shares) held with CDSL
- Nil shares held in physical form, representing 100% dematerialisation
IKIO Technologies announced that its UAE step-down subsidiary, Royalux FZCO, executed a vendor exclusivity undertaking with Danube Home LLC on October 7, 2026. The parties intend to target a business value of AED 2,000,000 (~Rs 4.5-4.6 Cr) over a 1-year tenure for installation, fit-out, landscaping, and decor services. Crucially, this value represents a target rather than a fixed or guaranteed contractual consideration. Compared to IKIO's TTM revenue of Rs 644 Cr, the target amount represents under 1% of annual revenue, making the financial impact modest.
- Step-down subsidiary Royalux FZCO signed an exclusivity undertaking with Danube Home LLC on October 7, 2026
- Target business value is AED 2,000,000 over a 1-year tenure
- Agreement value is an indicative target and does not represent guaranteed consideration
- Includes non-compete and client non-solicitation restrictions for 12 months
IKIO Technologies Limited announced the outcome of an in-person plant visit conducted by representatives of Genuity Capital on September 11, 2026. The visit took place at the company's facility located at Plot No. 6 & 10, Sector-156, Noida, Uttar Pradesh. The company confirmed that interactions were strictly restricted to publicly available information, and no Unpublished Price Sensitive Information (UPSI) was shared.
- Plant visit conducted on Friday, September 11, 2026
- Meeting venue at Plot No. 6 & 10, Sector-156, Noida, Uttar Pradesh
- Institutional representative: Genuity Capital
- Confirmation that no Unpublished Price Sensitive Information (UPSI) was shared
IKIO Technologies Limited held a virtual group analyst/investor meeting on September 10, 2026, from 03:30 PM to 04:30 PM IST. The participating institutions included Scientific Investing, Avendus Spark, and Genuity Capital. The company confirmed that discussions were based solely on publicly available information from Q4FY2026 and Q1FY2027 financial results and presentations, with no unpublished price-sensitive information (UPSI) shared.
- Virtual group meeting held on September 10, 2026, between 03:30 PM and 04:30 PM
- Participating entities included Scientific Investing, Avendus Spark, and Genuity Capital
- Discussions were limited to publicly disclosed Q4FY2026 & Q1FY2027 results and investor presentations
- Confirmation that no unpublished price sensitive information (UPSI) was discussed
IKIO Technologies Limited has notified the exchanges regarding a scheduled group interaction with analysts and institutional investors on September 10, 2026. The meeting will be held virtually between 03:30 PM and 04:30 PM IST. The company confirmed that existing investor presentations (Q4FY26 and Q1FY27) will be referenced, with no unpublished price-sensitive information being shared.
- Virtual group meeting scheduled with analysts/investors on September 10, 2026
- Meeting timing set from 03:30 PM to 04:30 PM IST
- Discussions will rely on existing public presentations for Q4FY26 and Q1FY27
IKIO Technologies Limited has notified the exchanges regarding a scheduled group meeting with analysts and institutional investors. The interaction will take place virtually on September 10, 2026, between 03:30 PM and 04:30 PM IST. The company stated that existing investor presentations (Q4FY26 & Q1FY27) already in the public domain will be referenced during the discussion. No new unpublished price-sensitive information is expected to be shared.
- Virtual group meeting scheduled with analysts and institutional investors on September 10, 2026
- Meeting duration scheduled from 03:30 PM to 04:30 PM IST
- Company to utilize existing Q4FY26 & Q1FY27 investor presentations already in public domain
IKIO Technologies Limited has informed the stock exchanges regarding the postponement of its virtual analyst/institutional investor meeting with Genuity Capital. The meeting was originally scheduled for September 08, 2026, from 03:30 P.M. to 04:30 P.M. The company cited management exigencies for the postponement and noted that revised scheduling will be communicated in due course. The development is purely procedural and carries no financial or operational impact.
- Virtual investor meeting with Genuity Capital originally scheduled for September 08, 2026, postponed
- Meeting was scheduled for a 1-hour slot from 03:30 P.M. to 04:30 P.M. IST
- Postponement caused by exigencies of company management
- Revised date and time of the meeting to be intimated later
IKIO Technologies Limited has notified the stock exchanges regarding a scheduled virtual meeting with institutional investor Genuity Capital on September 8, 2026, from 3:30 PM to 4:30 PM. The company stated that existing investor presentations for Q4FY26 and Q1FY27, which are already in the public domain, will be utilized. No unpublished price-sensitive information is expected to be shared. This is a routine institutional investor interaction filing under SEBI LODR regulations.
- Meeting scheduled with Genuity Capital on September 8, 2026
- Meeting format is virtual, scheduled between 03:30 PM and 04:30 PM
- Existing investor presentations (Q4FY26 & Q1FY27) to be referenced during the interaction
IKIO Technologies Limited has announced senior management changes in its finance division. Mr. Nripendra Kumar Gupta resigned from the role of Assistant Vice President (Finance & Accounts) on September 01, 2026, citing personal reasons, with his last working day set for September 12, 2026. Concurrently, the company appointed Mr. Naveen Bhatia as Finance Head effective September 02, 2026. Mr. Bhatia is a Chartered Accountant bringing over 18 years of experience across corporate finance, budgeting, and statutory compliance.
- Appointment of Mr. Naveen Bhatia as Finance Head effective September 02, 2026
- Mr. Naveen Bhatia brings over 18 years of experience in business finance, FP&A, and compliance
- Resignation of Mr. Nripendra Kumar Gupta (AVP - Finance & Accounts) effective September 12, 2026
- Confirmation that there are no other material reasons for the resignation
IKIO Technologies announced changes in its Senior Management Personnel on September 02, 2026. Mr. Nripendra Kumar Gupta resigned from his position as Assistant Vice President (Finance & Accounts) due to personal reasons, with his last working day set for September 12, 2026. Simultaneously, the company appointed Mr. Naveen Bhatia, a Chartered Accountant with over 18 years of experience, as the new Finance Head effective September 02, 2026. The transition represents a planned administrative succession within the finance department.
- Mr. Nripendra Kumar Gupta resigned as AVP (Finance & Accounts) effective closing hours of September 12, 2026
- Mr. Naveen Bhatia appointed as Finance Head (Senior Management Personnel) effective September 02, 2026
- Incoming Finance Head brings over 18 years of experience in business finance, FP&A, and treasury management
- Company confirmed no other material reasons for the resignation of Mr. Gupta
IKIO Technologies responded to BSE's surveillance inquiry (Letter Ref: L/SURV/ONL/PV/SG/ 2026-2027 / 323 dated August 31, 2026) regarding significant volume movements in its shares. The company confirmed that it is fully compliant with Regulation 30 and has no undisclosed price-sensitive information or pending announcements. It noted that the recent volume variation is purely market-driven, leaving operating fundamentals and disclosures unchanged.
- Responded to BSE surveillance query ref L/SURV/ONL/PV/SG/ 2026-2027 / 323 dated August 31, 2026
- Confirmed full compliance with Regulation 30 of SEBI LODR Regulations
- Stated zero pending undisclosed announcements or events affecting share price/volume
- Clarified that the recent surge in trading volume across exchanges is entirely market-driven
IKIO Technologies Limited submitted a clarification to NSE and BSE on July 06, 2026, regarding recent significant price and volume movements. The company confirmed it is fully compliant with Regulation 30 of SEBI Listing Regulations and has no pending undisclosed price-sensitive information. The company noted that the trading volume and price movements are entirely market-driven.
- Clarification filed in response to NSE Letter NSE/CM/Surveillance/17216 and BSE Letter L/SURV/ONL/PV/SJ/2026-2027/4032 dated July 06, 2026
- Company confirmed no pending announcements or material information that could influence price/volume
- Stock has seen a 43.5% price run-up over the past 3 months and 54.1% over 6 months
- Management confirmed ongoing compliance with Regulation 30 disclosures
IKIO Technologies Limited submitted a clarification to the National Stock Exchange regarding a recent significant increase in trading volume. In response to NSE letter dated August 28, 2026, the company stated that it is strictly compliant with Regulation 30 disclosure norms. The management confirmed there is no pending undisclosed material information or announcement that could affect the security's price or volume. The company attributed the volume movement purely to market-driven activity.
- Response submitted on August 29, 2026, following NSE surveillance letter dated August 28, 2026
- Confirmed full compliance with Regulation 30 of SEBI LODR Regulations, 2015
- Stated zero pending undisclosed announcements or material events
- Clarified that recent volume movements across exchanges are entirely market-driven
IKIO Technologies Limited submitted a clarification in response to an NSE surveillance query dated August 28, 2026, regarding significant volume movement in its shares. The company confirmed that it has strictly complied with Regulation 30 of SEBI Listing Regulations and has disclosed all price-sensitive events in a timely manner. Management stated there is no pending undisclosed information that could impact price or volume behaviour, noting the activity is purely market-driven.
- Responded to NSE letter reference NSE/CM/Surveillance/17432 dated August 28, 2026.
- Confirmed no pending undisclosed corporate announcements or price-sensitive information.
- Reiterated full compliance with Regulation 30 of SEBI LODR Regulations.
IKIO Technologies Limited disclosed the outcome of its investor and analyst meeting held on August 27, 2026. The discussions were strictly centered on previously disclosed information from the financial results and investor presentation for Q4 FY2026 and Q1 FY2027. The company confirmed that no unpublished price-sensitive information (UPSI) was shared during the session.
- Investor/analyst meeting conducted on August 27, 2026, following prior intimation on August 18, 2026
- Discussion restricted to published financial results and investor presentations for Q4FY2026 & Q1 FY2027
- Company confirmed zero sharing of Unpublished Price Sensitive Information (UPSI)
Financial Performance
Revenue Growth by Segment
Total revenue grew 31% YoY to INR 164 Cr in Q2 FY26. The 'Other Businesses' segment (including wearables and hearables) grew 71% YoY to INR 115 Cr in Q2 FY26 and 54% YoY to INR 197 Cr in H1 FY26. The ODM business experienced lower revenues, impacting overall growth momentum.
Geographic Revenue Split
Growth was primarily led by strong demand from the Middle East, specifically Dubai. The company has successfully entered the Gulf market under the product display segment, achieving profitability in its first year of operation.
Profitability Margins
Gross profit margin was maintained between 35% and 36% for Q2 and H1 FY26. Profit After Tax (PAT) margin stood at 6.6% in Q2 FY26, reflecting a sharp 358% QoQ growth from a lower base, while Cash PAT margin was approximately 11% (INR 18 Cr).
EBITDA Margin
EBITDA margin was 11.2% in Q2 FY26, a significant decline from 22-23% in the previous year. This reduction is attributed to front-loaded strategic expenses, higher employee costs, and investments in new product categories to fuel future growth.
Capital Expenditure
The company is investing INR 150-160 Cr in Phases II and III of its Noida manufacturing facility across FY25 and FY26. As of September 30, 2025, INR 142 Cr of IPO proceeds has been deployed for the new facility out of an available INR 212.3 Cr.
Credit Rating & Borrowing
CRISIL has assigned a 'Stable' outlook. Borrowing costs are minimized as the company utilized INR 50 Cr from IPO proceeds to complete debt repayment immediately after listing, leaving negligible debt obligations.
Operational Drivers
Raw Materials
Specific raw materials include LED chips, Printed Circuit Boards (PCBs), plastic resins for switches, and copper components for potentiometers. These materials represent approximately 64-65% of total revenue based on gross margins.
Import Sources
Raw materials are sourced from India and global markets. The company is subject to global demand-supply conditions and price fluctuations in these regions.
Capacity Expansion
Current active capacity includes Block 1 (2 lakh sq. ft.) of a new 5 lakh sq. ft. Noida facility, commercialized in May 2024. Block 2 (2 lakh sq. ft.) is nearing completion, and Block 3 is progressing as planned to support export and domestic growth.
Raw Material Costs
Raw material costs are approximately 64% of revenue. The company uses a backward integration strategy to optimize these costs, enhance margins, and maintain quality standards across its LED and electronics lines.
Manufacturing Efficiency
Efficiency is expected to improve through better fixed cost absorption as operations scale up in the new Noida facility. Current focus is on driving cost optimization and operational efficiencies across all business functions.
Logistics & Distribution
The company is expanding its distribution reach into the Middle East (Dubai) to support its new product display segment and export-oriented growth from the Noida facility.
Strategic Growth
Expected Growth Rate
25-30%
Growth Strategy
Growth will be achieved by operationalizing the full 5 lakh sq. ft. Noida facility to enhance exports, scaling the new wearables and hearables segment which grew 71% YoY, and expanding the profitable Gulf market presence.
Products & Services
LED Home Lighting, Solar Panels & Systems, Rotary Switches, Potentiometers, Wearables (smartwatches), Hearables (earbuds), and Product Display systems.
Brand Portfolio
Fine Technologies (original brand for switches and potentiometers).
New Products/Services
New product lines include wearables and hearables, which contributed INR 115 Cr (70% of Q2 revenue), and solar panels/systems aimed at the domestic market.
Market Expansion
Targeting the Middle East (Dubai) for product displays and global markets for LED exports via the new Noida facility capacity.
External Factors
Industry Trends
The industry is shifting toward Electronic Manufacturing Services (EMS) and ODM for consumer tech. IKIO is positioning itself by diversifying beyond lighting into high-growth wearables and solar energy.
Competitive Landscape
Intense competition from organized players in the LED and electrical component sectors limits negotiating power with suppliers and customers.
Competitive Moat
The moat is built on backward integration and longstanding customer relationships. This is sustainable as it provides a cost advantage and quality control that competitors find difficult to replicate without significant capex.
Macro Economic Sensitivity
Highly sensitive to Indian GDP growth and global demand-supply conditions, which dictate the pricing of finished goods and consumer discretionary spending on electronics.
Consumer Behavior
Shift toward energy-efficient LED lighting and rapid adoption of smart wearables are driving the 54% H1 growth in the 'Other Businesses' segment.
Geopolitical Risks
Exposure to trade barriers and economic conditions in the Middle East and other export destinations could impact the 25-30% revenue growth target.
Regulatory & Governance
Industry Regulations
Operations are governed by Indian manufacturing standards, import/export restrictions, and government policies regarding the electronics and solar sectors.
Taxation Policy Impact
The company is subject to standard Indian corporate tax rates; changes in tax regimes or fiscal policies are noted as material risk factors for future earnings.
Risk Analysis
Key Uncertainties
Implementation risk associated with the INR 150-160 Cr Noida project (Phases II and III) and the ability to sustain margins above 12-13% while scaling new product lines.
Geographic Concentration Risk
Increasing concentration in the Middle East (Dubai) market, which is currently a primary driver of geographic growth.
Third Party Dependencies
Critical dependency on a single large customer for a significant portion of revenue, creating a high business risk if the relationship terminates.
Technology Obsolescence Risk
High risk in the wearables and hearables segment due to rapid technological advancements and changing consumer preferences.
Credit & Counterparty Risk
Receivables quality and the working capital cycle are key monitorables for maintaining the current 'Adequate' liquidity status.
