Infollion Research Services Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹129 Cr
- P/E
- 10.82
- ROE
- 20.68%
- PEG
- 0.25
- Price to sales
- 1.20
- Debt to equity
- 0.00
- 52W high / low
- ₹418 / ₹131
- Sales growth (5Y)
- 44.49%
- EBITDA margin
- 12.29%
- Net profit margin
- 12.48%
- Promoter holding
- 51.65%
- Sales (last year)
- ₹108 Cr
Incorporated in 2009, Infollion Research Services Ltd operates in the B2B Human Cloud segment in India[1]
Guidance scorecard · Q2 FY27 call
What Infollion Resea.'s management guided
and where it ranks in Commercial Services & Supplies
Commercial Services & Supplies
RevenueQ2 FY27 call
0–10%- International business has significant growth potential, with market size 40-50 times larger than India; eventual target is international business surpassing India revenue.
- Public markets in India show very low adoption of high-end research services; potential for sudden non-linear growth exists here as adoption increases.
- India business expected to show steady, linear growth without non-linearity; mainly gaining market share via penetrative pricing.
- Marketplace growth is initially slow but can accelerate rapidly once a critical mass of experts and clients is achieved, especially internationally.
- Growth driven by expanding pre-empaneled experts (PEs) and scaling global expert-domain combinations.
- Current client growth directly influences company growth; no observed decline in consulting spends per project.
2 more points from Infollion Resea.'s call on revenue
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MarginsQ2 FY27 call
FlatSee what Infollion Resea. said on margins — free account, 30 seconds.
CapexQ2 FY27 call
Planned- The company has a reasonably big cash pile earmarked for strategic investments and acquisitions, particularly in international expansion.
- Priority is given to deploying cash in newer investments, especially in high-risk areas like AI, but only if there is a reasonable ROI.
- They are building HUKSA from an incubation perspective and intend to invest the maximum amount there.
- Exploring investments in gig marketplaces, especially premium and blue-collar segments.
- Made a strategic investment acquiring a 19% stake in a company related to engineering services (heat pumps, installations, planning, design) to gain insights and potential growth in that domain.
2 more points from Infollion Resea.'s call on capex
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FundraisingQ2 FY27 call
See what Infollion Resea. said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
Ask what Infollion Resea. said on the order book →
Full Q2 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Commercial Services & Supplies
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Commercial Services & Supplies companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹2,470 Cr | 162.7 | |
| 2 | 40%+ | Up 2%+ | ₹41 Cr | 6.6 | |
| 3 | 40%+ | Flat | ₹556 Cr | 40.0 | |
| 4 | 40%+ | Flat | ₹102 Cr | 10.4 | |
| 5 | 20–40% | Up 2%+ | ₹3,473 Cr | 40.9 | |
| 6 | 20–40% | Up 0–2% | ₹872 Cr | 13.3 |
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Pro shows every company guiding 40%+ revenue growth →Full Commercial Services & Supplies rankingFinancials of Infollion Resea.
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Infollion Resea.
Shareholding breakup across reporting periods.
| Jun 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Promoters + | 51.69% | 51.71% | 51.73% | 51.73% | 51.70% | 51.70% | 51.65% | 51.66% |
| FIIs + | 9.73% | 2.53% | 0.00% | 1.04% | 1.05% | 1.04% | 1.03% | 0.00% |
| DIIs + | 6.80% | 0.03% | 3.36% | 5.94% | 7.51% | 9.43% | 9.77% | 4.65% |
| Public + | 31.79% | 45.73% | 44.91% | 41.29% | 39.74% | 37.83% | 37.54% | 43.69% |
| No. of Shareholders | 830 | 675 | 1,016 | 1,409 | 1,709 | 1,723 | 1,564 | 1,723 |
Financials of Infollion Resea.
Quarterly Results
Quarter-by-quarter operating performance
Financials of Infollion Resea.
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 13 | 16 | 22 | 34 | 52 | 77 | 100 | 108 |
| Expenses + | 10 | 13 | 18 | 28 | 42 | 63 | 86 | 95 |
| Operating Profit | 3 | 3 | 3 | 5 | 10 | 15 | 14 | 13 |
| OPM % | 20% | 17% | 16% | 16% | 20% | 19% | 14% | 12% |
| Other Income + | 0 | 0 | 0 | 0 | 2 | 2 | 3 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 3 | 3 | 4 | 6 | 12 | 16 | 17 | 15 |
| Tax % | 20% | 23% | 29% | 26% | 26% | 24% | 25% | |
| Net Profit + | 2 | 2 | 3 | 4 | 9 | 12 | 13 | 12 |
| EPS in Rs | 3.19 | 3.10 | 3.81 | 5.71 | 8.84 | 12.78 | 12.90 | 12.28 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Infollion Resea.
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 7 | 10 | 10 | 10 | 10 |
| Reserves | 5 | 7 | 8 | 5 | 32 | 44 | 57 | 64 |
| Borrowings + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities + | 1 | 1 | 2 | 3 | 5 | 4 | 4 | 7 |
| Total Liabilities | 6 | 8 | 10 | 16 | 47 | 58 | 71 | 81 |
| Fixed Assets + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 2 | 5 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Other Assets + | 6 | 8 | 10 | 16 | 46 | 55 | 66 | 74 |
| Total Assets | 6 | 8 | 10 | 16 | 47 | 58 | 71 | 81 |
Financials of Infollion Resea.
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 1 | 2 | 1 | 3 | 9 | 5 | 10 |
| Cash from Investing Activity + | 0 | 0 | -0 | -0 | -1 | -2 | -3 |
| Cash from Financing Activity + | 0 | 0 | 0 | 0 | 17 | 0 | 0 |
| Net Cash Flow | 1 | 2 | 1 | 2 | 25 | 4 | 8 |
| Free Cash Flow | 1 | 2 | 1 | 3 | 9 | 5 | 10 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 27% | 71% | 34% | 69% | 105% | 56% | 101% |
Financials of Infollion Resea.
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 105 | 87 | 55 | 64 | 78 | 83 | 67 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 105 | 87 | 55 | 64 | 78 | 83 | 67 |
| Working Capital Days | 102 | 86 | 82 | 71 | 68 | 73 | 59 |
| ROCE % | 45% | 47% | 53% | 40% | 35% | 28% |
Guidance history
How Infollion Resea.'s guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 0–10% | Flat | Planned | — | — |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 10–20% | Flat | — | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Infollion Resea.'s management said in earlier quarters
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