Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Innovators
Quarter-by-quarter operating performance
Financials of Innovators
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 83 | 91 | 92 | 100 | 154 | 157 | 141 | 66 | 89 | 181 | 215 | 221 | 191 |
| Expenses + | 73 | 79 | 84 | 91 | 133 | 136 | 126 | 57 | 78 | 163 | 186 | 189 | 163 |
| Operating Profit | 10 | 12 | 9 | 9 | 22 | 21 | 16 | 8 | 11 | 18 | 29 | 32 | 28 |
| OPM % | 12% | 13% | 9% | 9% | 14% | 13% | 11% | 13% | 12% | 10% | 13% | 15% | 15% |
| Other Income + | 1 | 1 | 2 | 2 | 1 | -6 | -15 | 1 | 1 | 1 | 3 | 3 | 4 |
| Interest | 5 | 6 | 6 | 6 | 9 | 5 | 5 | 4 | 5 | 6 | 8 | 9 | 9 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 4 | 6 | 3 | 4 | 5 | 5 |
| Profit before tax | 4 | 5 | 3 | 3 | 12 | 8 | -8 | 1 | 1 | 10 | 20 | 21 | 18 |
| Tax % | 32% | 33% | 34% | 86% | 32% | 39% | -2% | 6% | -24% | 13% | 24% | 25% | |
| Net Profit + | 3 | 3 | 2 | 0 | 8 | 5 | -8 | 1 | 2 | 8 | 15 | 16 | 13 |
| EPS in Rs | 4.48 | 3.05 | 1.61 | 0.41 | 6.00 | 2.46 | -4.25 | 0.49 | 0.85 | 4.46 | 8.09 | 8.49 | 6.85 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Innovators
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 10 | 10 | 10 | 13 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| Reserves | 32 | 46 | 48 | 49 | 73 | 109 | 101 | 101 | 103 | 111 | 127 | 143 | 129 |
| Borrowings + | 50 | 44 | 62 | 60 | 51 | 49 | 43 | 25 | 33 | 39 | 43 | 61 | 47 |
| Other Liabilities + | 34 | 29 | 26 | 33 | 43 | 35 | 22 | 19 | 34 | 86 | 82 | 59 | 71 |
| Total Liabilities | 123 | 129 | 146 | 152 | 180 | 211 | 184 | 164 | 189 | 255 | 271 | 281 | 266 |
| Fixed Assets + | 19 | 17 | 16 | 15 | 13 | 24 | 29 | 37 | 40 | 47 | 63 | 64 | 64 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 5 | 0 | 0 | 2 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 0 |
| Other Assets + | 103 | 112 | 115 | 122 | 152 | 166 | 140 | 112 | 132 | 192 | 192 | 201 | 202 |
| Total Assets | 123 | 129 | 146 | 152 | 180 | 211 | 184 | 164 | 189 | 255 | 271 | 281 | 266 |
Financials of Innovators
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 9 | 0 | -4 | 13 | 27 | 10 | 16 | 31 | 3 | |||
| Cash from Investing Activity + | -1 | -9 | -20 | -4 | -6 | -14 | -15 | -23 | -10 | |||
| Cash from Financing Activity + | -5 | 2 | 26 | -11 | -22 | 4 | -1 | -4 | 8 | |||
| Net Cash Flow | 3 | -7 | 2 | -2 | -0 | -0 | -0 | 3 | 1 | |||
| Free Cash Flow | 7 | -1 | -23 | 10 | 15 | -0 | 7 | 11 | -3 | |||
| CFO/OP | 78% | 11% | 3% | 98% | 328% | 85% | 98% | 124% | 14% |
Financials of Innovators
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 77 | 138 | 163 | 136 | 154 | 125 | 93 | 168 | 90 | 70 | 63 | 90 |
| Inventory Days | 94 | 92 | 71 | 218 | 129 | 177 | 196 | 307 | 424 | 312 | 230 | 183 |
| Days Payable | 207 | 179 | 120 | 132 | 92 | 127 | 96 | 170 | 191 | 223 | 150 | 98 |
| Cash Conversion Cycle | -36 | 51 | 114 | 221 | 192 | 175 | 193 | 305 | 323 | 159 | 142 | 175 |
| Working Capital Days | 195 | 216 | 251 | 161 | 137 | 173 | 165 | 295 | 210 | 93 | 64 | 70 |
| ROCE % | 11% | 8% | 8% | 16% | 13% | 8% | 3% | 4% | 10% | 16% | 15% |
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