About iCodex
iCodex is a publicly listed company based in Pune (India) founded in 2018 by Kamal Govindaraj and Chetan Soni. It operates as a cloud-based publishing solutions are provided for workflow management. The company has 75 employees. Its Indian entity Icodex Publishing Solutions Limited reported revenue of ₹22.08 Cr. iCodex offers products and services including Automation Tools, ERP Management, and Tailored Software Solutions. Its focus areas include Tech for Digital Publishers and Content Publishing. Its competitors include Authorea, Atavist, Column, Spines and PressMatrix and 4 more; 8 of its 9 listed competitors have raised funding.
Company details
iCodex was founded in 2018 in Pune, India, within the publishing technology sector. A cloud-based platform is offered by the company to support intuitive workflows and production processes. This service is utilized by publishers, self-authors, freelancers, and publishing providers to manage and streamline operations. The platform focuses on efficiency in content creation and distribution tasks.
- Headquarters Pune, India
- Employees 75
- Founders Kamal Govindaraj, Chetan Soni
- Stage Public
- SectorsMedia & Entertainment
- Email••••••••
- Phone•••• ••••
- Website icodexsolutions.com
- Social LinkedIn Facebook
- Legal Name Icodex Publishing Solutions Limited
- Market Cap₹62.94 Cr
ICODEX · BSE
- Share Price₹41.00
+1.86% today
- Revenue₹25.93 Cr
FY 2025-26 · +18.5% YoY
- EBITDA₹10.73 Cr
Margin 41.4%
- Net Profit₹7.09 Cr
FY 2025-26 · -20.9% YoY
- P/E (TTM)8.9x
P/B 1.1x
- ROE18.8%
ROCE 24.8%
- Debt / Equity0.13
Interest cover 3.9x
- Employee Count75
Associated legal entities of iCodex
iCodex is associated with 2 registered companies on The Company Check; the primary company is Icodex Publishing Solutions Limited, a listed company. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Icodex Publishing Solutions Limited Listed CIN L72900PN2018PLC176870 | Active | 28 May 2018 | Pune City, Maharashtra | ₹22.1 Cr | 75 | 7 | View details |
| Icodex Publishing Solutions Limited CIN U72900PN2018PLC176870 | – | 28 May 2018 | Pune, Maharashtra, India | – | – | – | View details |
Products & Services of iCodex
iCodex offers a comprehensive portfolio of products and services, including Automation Tools, ERP Management, and Tailored Software Solutions.
Automates tasks like language checks and XML conversion for efficient publishing.
Manages end-to-end workflows for industries including publishing.
Develops software to meet specific client needs and integrate with systems.
Board of directors of Icodex Publishing Solutions Limited (iCodex)
Icodex Publishing Solutions Limited is the primary company behind iCodex. The board of Icodex Publishing Solutions Limited currently have 5 directors; the longest-serving is Kamalakkannan Govindaraj, appointed in 2018. 6 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Kamalakkannan Govindaraj DIN 08144289 | Managing Director | 28 May 2018 | 8 yrs 4 mo | Icodex Publishing Solutions Limited |
| Chetan Shankarlal Soni DIN 00734127 | Whole-time director | 28 May 2018 | 8 yrs 4 mo | Icodex Publishing Solutions Limited |
| Venkata Subbarao Kalva DIN 08043883 | Director | 05 Jun 2024 | 2 yrs 4 mo | Icodex Publishing Solutions Limited |
| Shilpa Kiran Gududur DIN 09067581 | Director | 05 Jun 2024 | 2 yrs 4 mo | Icodex Publishing Solutions Limited |
| Vishnu Prasad DIN 06513249 | Director | 15 May 2026 | 5 mo | Icodex Publishing Solutions Limited |
People of iCodex
2 people are tracked at iCodex (2 in leadership); the tracked headcount is 75.
| Name | Role | Group |
|---|---|---|
Kamal Govindaraj | Co-Founder & Managing Director | Leadership |
| Co-Founder | Leadership |
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IPO & Listings of iCodex
iCodex is a publicly listed company on the BSE with ticker symbol ICODEX in India, operating in the Technology services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date19 Aug 2025
- Listed onBSE: 544483
- Listed entityIcodex Publishing Solutions Limited
- Exchange sectorTechnology services
- ISININE111601014
- Share price₹39.00 (+2.63% on the day) · 2026-10-09
- Market capitalisation₹61.0 Cr
- Price to earnings8.6
- EPS (diluted, trailing year)₹4.54
- Volume (last session)2,400
Financials of iCodex
Exchange-reported figures of Icodex Publishing Solutions Limited, the listed company behind iCodex (BSE: ICODEX).
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | 25.93 | 21.88 | 10.40 | 9.54 | 8.18 | 4.96 |
| Revenue growth | +18.5% | +110.4% | +9.0% | +16.6% | +64.9% | - |
| EBITDA | 10.73 | 13.48 | 4.26 | 1.95 | 1.75 | 0.96 |
| EBITDA margin | +41.4% | +61.6% | +41.0% | +20.4% | +21.4% | +19.4% |
| Profit before tax | 10.26 | 12.82 | 4.45 | 1.84 | 1.65 | 0.99 |
| Net profit | 7.09 | 8.96 | 4.41 | 1.81 | 1.28 | 0.98 |
| Net profit margin | +27.3% | +41.0% | +42.4% | +19.0% | +15.7% | +19.8% |
| EPS (₹) | 4.54 | 7.32 | 43,970.00 | 18,118.00 | 12,874.00 | 9,918.60 |
| Balance sheet | ||||||
| Total assets | 63.62 | 22.30 | 9.63 | 4.31 | 2.43 | 1.12 |
| Net worth | 56.31 | 19.05 | 8.59 | 4.19 | 2.38 | 1.12 |
| Total debt | 7.05 | 2.99 | 0.88 | 0.02 | 0.00 | 0.00 |
| Cash & bank | 12.78 | 3.63 | 3.06 | 1.68 | 1.49 | 0.24 |
| Net working capital | 23.34 | 8.04 | 3.87 | 2.26 | 1.50 | 0.35 |
| Cash flow | ||||||
| Cash from operations | 1.64 | 6.35 | 3.81 | 1.27 | 1.24 | - |
| Cash from investing | (35.50) | (12.69) | (3.26) | (1.10) | (0.49) | - |
| Cash from financing | 33.87 | 3.44 | 0.83 | 0.01 | 0.00 | - |
Financial Statements
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Revenue | 25.93 | 21.88 | 10.40 | 9.54 | 8.18 | 4.96 |
| Revenue growth | +18.5% | +110.4% | +9.0% | +16.6% | +64.9% | - |
| Other income | 0.67 | 0.20 | 0.59 | 0.18 | 0.04 | 0.23 |
| Total expenses | 15.20 | 8.40 | 6.14 | 7.59 | 6.43 | 4.00 |
| Employee cost | 10.55 | 5.47 | 4.91 | 5.69 | 3.92 | 1.54 |
| EBITDA | 10.73 | 13.48 | 4.26 | 1.95 | 1.75 | 0.96 |
| EBITDA margin | +41.4% | +61.6% | +41.0% | +20.4% | +21.4% | +19.4% |
| Depreciation | 0.75 | 0.59 | 0.36 | 0.28 | 0.14 | 0.02 |
| Interest | 0.39 | 0.27 | 0.04 | 0.01 | 0.00 | 0.18 |
| Profit before tax | 10.26 | 12.82 | 4.45 | 1.84 | 1.65 | 0.99 |
| Tax | 3.17 | 3.86 | 0.04 | 0.03 | 0.37 | 0.01 |
| Net profit | 7.09 | 8.96 | 4.41 | 1.81 | 1.28 | 0.98 |
| Net profit margin | +27.3% | +41.0% | +42.4% | +19.0% | +15.7% | +19.8% |
| EPS (₹) | 4.54 | 7.32 | 43,970.00 | 18,118.00 | 12,874.00 | 9,918.60 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Equity & liabilities | ||||||
| Share capital | 15.64 | 12.24 | 0.00 | 0.00 | 0.00 | 0.00 |
| Reserves & surplus | 40.67 | 6.81 | 8.59 | 4.19 | 2.38 | 1.12 |
| Shareholders' funds (net worth) | 56.31 | 19.05 | 8.59 | 4.19 | 2.38 | 1.12 |
| Secured loans | 6.95 | 2.99 | 0.88 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 0.10 | 0.00 | 0.00 | 0.02 | 0.00 | 0.00 |
| Total debt | 7.05 | 2.99 | 0.88 | 0.02 | 0.00 | 0.00 |
| Total liabilities | 63.62 | 22.30 | 9.63 | 4.31 | 2.43 | 1.12 |
| Assets | ||||||
| Gross block | 8.92 | 6.75 | 1.42 | 1.21 | 0.87 | 0.30 |
| Net block | 6.78 | 5.36 | 0.62 | 0.77 | 0.71 | 0.27 |
| Capital work in progress | 21.47 | 8.85 | 3.38 | 0.53 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.50 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 11.56 | 4.94 | 1.37 | 1.81 | 1.20 | 0.89 |
| Cash & bank balances | 12.78 | 3.63 | 3.06 | 1.68 | 1.49 | 0.24 |
| Loans & advances | 1.15 | 1.67 | 0.47 | 0.26 | 0.17 | 0.48 |
| Total current assets | 25.49 | 10.24 | 4.90 | 3.75 | 2.86 | 1.61 |
| Total current liabilities | 2.15 | 2.20 | 1.03 | 1.49 | 1.36 | 1.26 |
| Net working capital | 23.34 | 8.04 | 3.87 | 2.26 | 1.50 | 0.35 |
| Total assets | 63.62 | 22.30 | 9.63 | 4.31 | 2.43 | 1.12 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Opening cash | 0.16 | 3.06 | 1.68 | 1.49 | 0.74 | - |
| Net cash from operating activities | 1.64 | 6.35 | 3.81 | 1.27 | 1.24 | - |
| Net cash from investing activities | (35.50) | (12.69) | (3.26) | (1.10) | (0.49) | - |
| Net cash from financing activities | 33.87 | 3.44 | 0.83 | 0.01 | 0.00 | - |
| Net change in cash | 0.01 | (2.90) | 1.38 | 0.19 | 0.75 | - |
| Closing cash | 12.78 | 3.63 | 3.06 | 1.68 | 1.49 | - |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Growth | ||||||
| Sales growth | +18.5% | +110.4% | +9.0% | +16.6% | +64.9% | - |
| EBITDA growth | -20.4% | +216.4% | +118.5% | +11.4% | +82.3% | - |
| PBT growth | -20.0% | +188.1% | +141.9% | +11.5% | +66.7% | +9997.0% |
| Net income growth | -20.9% | +103.2% | +143.7% | +41.4% | +30.6% | - |
| Revenue CAGR (3Y) | +39.6% | +38.8% | +28.0% | - | - | - |
| EBITDA CAGR (3Y) | +76.5% | +97.5% | +64.3% | - | - | - |
| Profitability & leverage | ||||||
| Net income margin | +27.3% | +41.0% | +42.4% | +19.0% | +15.7% | +19.8% |
| Return on capital employed | +24.8% | +82.0% | +64.4% | +54.9% | +93.5% | +105.4% |
| Return on net worth | +18.8% | +64.8% | +68.9% | +55.1% | +73.7% | +88.4% |
| Debt / equity | 0.13 | 0.14 | 0.07 | 0.00 | 0.00 | 0.00 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 3.91 | 2.09 | 1.03 | 0.60 | 0.00 | 19.15 |
| Efficiency & per share | ||||||
| Fixed asset turnover | 3.31 | 5.36 | 7.91 | 9.17 | 13.98 | 16.53 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 3.14 | 6.94 | 6.54 | 6.34 | 7.83 | 5.57 |
| EPS (₹) | 4.54 | 7.32 | 43,970.00 | 18,118.00 | 12,874.00 | 9,918.60 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 36.01 | 15.56 | 85,903.00 | 41,933.00 | 23,814.00 | 11,194.00 |
Competitors of iCodex
iCodex has 9 listed competitors in our database, 8 of them funded. They include Authorea, Atavist, Column, Spines and PressMatrix, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| authorea.com | 2012 | New York, United States | $2.11M | 88 | Collaborative platform for research and learning | |
| atavist.com | 2011 | Brooklyn, United States | $5.43M | – | Multimedia storytelling is facilitated by a SaaS publishing platform. | |
| column.us | 2004 | Cambridge, United States | $30M | 49 | Public interest information is distributed via an online collaborative platform. | |
| spines.com | 2013 | Boynton Beach, United States | $22.5M | – | AI-based publishing solutions including proofreading and global distribution are provided. | |
| pressmatrix.de | 2011 | Berlin, Germany | $3.3M | 21 | Interactive digital magazines are converted from print for mobile platforms. | |
| associatedcontent.com | 2004 | Denver, United States | $21.4M | – | Content is published on an open platform in various formats. | |
| aditude.com | 2019 | New York, United States | $15M | – | Cloud-based solutions for publishers' ad management and reporting are provided. | |
| boomwriter.com | 2010 | Cambridge, United States | $6.3M | – | Collaborative writing is enabled online for students and teachers. | |
| kitaboo.com | 2009 | Mumbai, India | – | 158 | Offers a cloud-based platform for efficient content authoring and management. |
Detailed competitors of iCodex
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Web traffic of iCodex
The website of iCodex (icodexsolutions.com) receives about 1.6K visits a month.
- Monthly visits1.6K
▼ 84% vs previous month
Websites whose visitors overlap most with iCodex. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| theleadersglobe.com | 100% | – | #3,806,301 | View details | |
emagpensive.com | emagpensive.com | 98% | – | – | – |
swiftnlift.com | swiftnlift.com | 95% | – | #13,063,015 | – |
| worldsleaders.com | 79% | – | #3,229,390 | View details |
Top companies in Digital Media & Publishing Platforms
10 companies that operate in the same segment as iCodex (Digital Media & Publishing Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Content is shared and discussed across user-driven communities. | 2005 | San Francisco, California, United States | USD 1.62 B | – | – | |
Online platform for creating graphic images | 2012 | Surry Hills, New South Wales, Australia | USD 589.22 M | USD 668.78 M | 20,257 | |
Reward-based crowdfunding is facilitated for content creators and musicians. | 2013 | San Francisco, California, United States | USD 412.1 M | – | 1,218 | |
Subscription-based platform for publishers' content management is provided. | 2017 | San Francisco, California, United States | USD 189.5 M | USD 1.45 M | 4,285 | |
An audio streaming platform for series and stories is operated. | 2018 | Bengaluru, Karnataka, India | USD 196.66 M | USD 30.62 M | 1,044 | |
Platform connecting readers and writers, offering digital literature in multiple languages | 2014 | Bengaluru, Karnataka, India | USD 92.65 M | USD 6.84 M | 162 | |
Native advertising solutions are delivered via a cloud-based content platform. | 2006 | New York, New York, United States | USD 403.72 M | USD 1.3 B | 1,800 | |
Online storytelling platform | 2006 | Toronto, Ontario, Canada | USD 117.82 M | – | – | |
Online platform allows users to read and write blogs | 2012 | San Francisco, California, United States | USD 162.97 M | – | – | |
Ad network platform is utilized for content recommendations and monetization. | 2007 | New York, New York, United States | USD 160 M | USD 1.91 B | 2,024 |
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Related news about Icodex
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Frequently Asked Questions about iCodex
iCodex was founded in 2018.
iCodex is headquartered in Pune, India. It is registered at Pune, Maharashtra, India.
iCodex has 75 employees.
The primary company behind iCodex, Icodex Publishing Solutions Limited, reported revenue of ₹22.08 Cr for FY 2025, up 101% year on year.
iCodex was founded in 2018 in Pune, India, within the publishing technology sector. A cloud-based platform is offered by the company to support intuitive workflows and production processes. This service is utilized by publishers, self-authors, freelancers, and publishing providers to manage and streamline operations. The platform focuses on efficiency in content creation and distribution tasks.
iCodex offers Automation Tools, ERP Management, and Tailored Software Solutions.
Yes, iCodex is publicly traded on BSE under the ticker symbol ICODEX.
iCodex operates through Icodex Publishing Solutions Limited.
The legal entities of iCodex currently have 7 directors, including Kamalakkannan Govindaraj, Chetan Shankarlal Soni, Venkata Subbarao Kalva and others.