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Healthcare business process outsourcing company providing administrative and practice-management services to US healthcare providers.
Healthcare business process outsourcing company providing administrative and practice-management services to US healthcare providers.
Does back-office billing, coding and administrative work for US doctor groups from centres in India, so the lower cost of labour and US insurance reimbursement rules drive its income. Work already running for a client tends to expand into new services, though it can be lost if the client changes its biller.
In one line: A healthcare BPO serving US physician practices and health systems.
Moat: narrow (process know-how, switching costs). Deep integration into client healthcare workflows creates high switching costs once onboarded.
Headquarters: Mumbai, India · Founded: 2007 · Employees: 9,760
Size Inventurus Knowledge Solutions (IKS.NS) is an India Industrials company (Miscellaneous Commercial Services) with a market value of $2.94B, the 290th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,657 on 6 Nov 2026.
Performance Over six months the shares fell 2.3%, against +8.4% for the median peer and 0.0% for the India market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 19.9% over the last twelve months (peer median +2.6%); the operating margin is 31.5% (peer median 10.4%).
Valuation It trades at 31.8× forward earnings against a peer median of 15.1× (5th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 21% a year for seven years (Req g). Recent delivered growth is +46%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 16.2 points above its cost of capital (12.0% WACC).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹33.5B | ₹31.9B | ₹26.6B | ₹18.2B | ₹10.3B |
| Revenue growth | — | +20% | +47% | +76% | — |
| Gross profit | ₹13.0B | ₹13.6B | ₹9.60B | ₹7.41B | ₹5.05B |
| EBITDA | ₹11.8B | ₹10.4B | ₹7.78B | ₹5.29B | ₹3.98B |
| Net income | ₹7.64B | ₹7.22B | ₹4.86B | ₹3.70B | ₹3.05B |
| Free cash flow | n/a | ₹6.00B | ₹2.46B | ₹1.84B | ₹2.95B |
| Capital expenditure | n/a | ₹606M | ₹424M | ₹327M | ₹85.5M |
| Total debt | n/a | ₹7.53B | ₹8.56B | ₹13.1B | ₹523M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Inventurus Knowledge Solutions IKS.NS | $2.94B | -2% | +20% | 31% | 31.8× | 21.2% |
| Sagility SAGILITY.NS | $2.15B | +2% | +28% | 18% | 16.4× | 10.3% |
| Firstsource Solutions FSL.NS | $2.16B | +25% | +20% | 12% | 22.0× | 20.3% |
| ExlService EXLS | $6.51B | +39% | +16% | 14% | 17.0× | 9.4% |
| Genpact G | $7.07B | +30% | +7% | 16% | 9.9× | -7.5% |
| Conduent CNDT | n/a | -19% | n/a | n/a | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | IKS.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.6% | -0.2% | 9th lowest of 21 |
| 6-month return | -2.3% | +8.4% | 8th lowest of 21 |
| Distance from 52-week high | -15.9% | -19.8% | 8th highest of 21 |
| Revenue growth (TTM) | +19.9% | +2.6% | 7th highest of 21 |
| Operating margin | 31.5% | 10.4% | 3rd highest of 21 |
| Forward P/E | 31.8× | 15.1× | 5th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 21.2% | -1.6% | 4th most demanding of 16 |
| Growth delivered (Del g) | +45.8% | +9.4% | 2nd highest of 16 |
| Hurdle (Req g minus delivered) | -24.6 pp | -9.9 pp | 3rd least demanding of 16 |
| ROIC minus cost of capital | +16.2 pp | +3.2 pp | highest of 18 |
| EV / EBITDA | 23.5× | 7.3× | most expensive of 13 |
| Net debt / EBITDA | 0.1× | 1.4× | 4th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Inventurus Knowledge Solutions IKS.NS | India | $2.94B | -2% | +20% | 31% | 31.8× | 21.2% | +45.8% |
| Jiangsu Boqian New Materials Stock 605376.SS | China | $2.94B | -43% | +76% | 20% | 38.8× | n/a | n/a |
| CoreCivic CXW | United States | $2.84B | +41% | +24% | 10% | 12.1× | -1.6% | +3.0% |
| TriNet TNET | United States | $3.05B | +56% | -4% | 6% | 15.1× | -3.3% | +4.4% |
| JHT Design 603061.SS | China | $3.07B | -8% | +93% | 34% | n/a | 43.9% | +30.4% |
| ABM Industries ABM | United States | $3.10B | +32% | +6% | 5% | 12.5× | -2.0% | +7.9% |
| Jianshe Industry Group (Yunnan) 002265.SZ | China | $3.12B | -11% | +42% | 5% | n/a | 26.3% | +47.9% |
| Pluxee PLX.PA | France | $2.72B | 0% | +1% | 28% | 8.9× | n/a | n/a |
| Huron Consulting HURN | United States | $2.63B | +39% | +12% | 12% | 16.5× | -4.0% | +14.3% |
| International Workplace IWG.L | United Kingdom | $2.63B | +12% | 0% | 4% | 22.5× | 33.6% | +3.3% |
| Hui Lyu Ecological Technology Groups 001267.SZ | China | $2.61B | -59% | +90% | 10% | 71.6× | n/a | n/a |
| Shenzhen Fortune Trend Technology 688318.SS | China | $3.36B | -21% | -3% | 56% | 69.5× | n/a | n/a |
| MAXIMUS MMS | United States | $3.43B | +2% | -3% | 11% | 7.9× | -8.5% | +9.4% |
| CECEP Environmental Protection 300140.SZ | China | $2.51B | -18% | -2% | 23% | n/a | -1.2% | +26.0% |
| Visional 4194.T | Japan | $2.51B | +32% | +24% | 25% | 20.2× | -2.4% | +28.2% |
| Loomis LOOMIS.ST | Sweden | $3.46B | +12% | +1% | 11% | 12.6× | -9.1% | +9.7% |
| KWS SAAT SE & Co KGaA KWS.DE | Germany | $2.48B | -12% | -3% | 15% | 13.2× | -8.2% | +4.4% |
| S-1 012750.KS | South Korea | $2.45B | +14% | +1% | 7% | 21.8× | -1.2% | +5.4% |
| Shanghai GenTech 688596.SS | China | $2.42B | +56% | +4% | 2% | 76.5× | n/a | n/a |
| MITIE MTO.L | United Kingdom | $3.56B | +23% | +11% | 3% | 14.2× | 14.1% | +17.6% |
| Serco SRP.L | United Kingdom | $3.60B | +5% | +1% | 5% | 14.9× | 1.9% | +4.9% |