About Icodex Publishing Solutions Limited
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Icodex Publishing Solutions Limited is a public limited company based in Pune, Maharashtra, India, recognised as a startup by DPIIT. It operates in the periodicals publishing segment of the printing and publishing sector. It was incorporated on 28 May 2018 and has been in existence for over 8 years.
The company is registered with the Registrar of Companies (ROC), Pune, under CIN L72900PN2018PLC176870. Its GSTIN is 27AAECI8911R1ZV (Maharashtra). It is a listed company.
The company has an authorised share capital of ₹18 Cr and a paid-up capital of ₹15.64 Cr. It is led by directors including Kamalakkannan Govindaraj (Managing Director) and Chetan Shankarlal Soni (Whole-Time Director).
Its last annual general meeting (AGM) was held on 04 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Vistacore Bldg 3rd Floor Plot No 29, Kalyani Nagar Pune 411006, Maharashtra, India – 411006.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹25.93 Cr, a growth of 18.5% compared to the previous year. For the same year it recorded a net profit of ₹7.09 Cr (net margin 27.3%) and EBITDA of ₹10.73 Cr (EBITDA margin 41.4%). The net worth stands at ₹56.31 Cr (up 195.6% YoY). Total assets are valued at ₹63.62 Cr (up 185.3% YoY).
The company has about 75 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: iCodex. As per MCA filings, the company has open charges of ₹15.75 Cr and satisfied charges of ₹3 Cr on record. The company has 8 deals on record (7 market trades, 1 ipo); the latest was in April 2026. Its 10 peer companies in the Outsourcing industry (Application Development, Diversified BPO, Publishing) are compared by revenue, 5 larger and 5 smaller; the largest is Trundl Labs Private Limited with revenue of ₹22.16 Cr.
For more details, the company can be reached via its website icodexsolutions.com.
- EmailLocked
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- WebsiteLocked
- Social Media
- Registered AddressVistacore Bldg 3rd Floor Plot No 29, Kalyani Nagar Pune 411006, Maharashtra, India – 411006
- IndustryPrinting & Publishing, Periodicals Publishing, Books, Newspaper
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
- One PDF report, delivered after checkout
Business Activity of Icodex Publishing Solutions Limited
The main business activity of Icodex Publishing Solutions is information and communication. In detail, this covers data processing, hosting and related activities; web portal.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| J | Information and communication | J7 | Data processing, hosting and related activities; web portal | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Icodex Publishing Solutions Limited FY 2025-26 filings available
Icodex Publishing Solutions Limited reported revenue of ₹25.93 Cr (up 18.5% YoY) for FY 2025-26.
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 |
Peer Comparison of Icodex Publishing Solutions Limited
Icodex Publishing Solutions Limited is compared with the companies closest to it by revenue in the Outsourcing industry (Application Development, Diversified BPO, Publishing). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Icodex Publishing Solutions Limited this company | ₹25.93 Cr (FY 2026) | •••• | •••• | 18.5% | •••• | Pune, Maharashtra, India |
| Trundl Labs Private Limited | ₹22.16 Cr (FY 2025) | •••• | •••• | 20.0% | •••• | Hyderabad, Telangana, India |
| Team Vertex Cosmos Private Limited | ₹22.13 Cr (FY 2024) | •••• | •••• | 42.0% | •••• | New Delhi, Delhi, India |
| Logical Solutions Ltd | ₹22.13 Cr (FY 2025) | •••• | •••• | 22.0% | •••• | Secunderabad, Telangana, India |
| Inexture Solutions Limited | ₹22.11 Cr (FY 2025) | •••• | •••• | 166.0% | •••• | Ahmedabad, Gujarat, India |
| Prototech Solutions and Services Private Limited | ₹22.09 Cr (FY 2025) | •••• | •••• | 11.0% | •••• | Pune, Maharashtra, India |
| Pacific Advisory Solutions Private Limited | ₹22.03 Cr (FY 2023) | •••• | •••• | -48.0% | •••• | Kalyan, Maharashtra, India |
| Hahnemann Publishing Co Pvt Ltd | ₹22.03 Cr (FY 2025) | •••• | •••• | 1.0% | •••• | Kolkata, West Bengal, India |
| Costrategix Technologies Private Limited | ₹22.02 Cr (FY 2025) | •••• | •••• | -7.0% | •••• | Bangalore, Karnataka, India |
| Mann Consultancy Private Limited | ₹22.02 Cr (FY 2020) | •••• | •••• | 378.0% | •••• | Delhi, India |
| Infoaxon Technologies (India) Private Limited | ₹21.98 Cr (FY 2025) | •••• | •••• | -26.0% | •••• | New Delhi, Delhi, India |
Peers are the five companies nearest above and the five nearest below Icodex Publishing Solutions by revenue in the Outsourcing industry (Application Development, Diversified BPO, Publishing), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Board of Directors of Icodex Publishing Solutions Limited
Icodex Publishing Solutions has 5 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shilpa Kiran Gududur Also directs: Kerala Ayurveda Limited | Director | 05 Jun 2024 | 2 Years 4 Months | Current |
| Kamalakkannan Govindaraj | Managing Director | 28 May 2018 | 8 Years 4 Months | Current |
| Chetan Shankarlal Soni | Whole-Time Director | 28 May 2018 | 8 Years 4 Months | Current |
| Venkata Subbarao Kalva Also directs: Best Valuers Private Limited | Director | 05 Jun 2024 | 2 Years 4 Months | Current |
| Vishnu Prasad | Additional Director | 15 May 2026 | 0 Years 5 Months | Current |
Charges & Borrowings of Icodex Publishing Solutions Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 20 May 2026 | Others | ₹10.8 Cr | Open |
| 26 Dec 2024 | Others | ₹4.95 Cr | Open |
| 28 Jun 2023 | Others | ₹3 Cr | Satisfied |
Total charge records: 3 View all charges
Deals & Funding of Icodex Publishing Solutions Limited
Icodex Publishing Solutions Limited has 8 deals on record (7 market trades, 1 ipo); the latest was in April 2026.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2026 | Market trade | ₹2.09 Cr | Buyer: Wealthive Technologies LLP Seller: Comercinate Enterprises Private Limited |
| Oct 2025 | Market trade | ₹42.8 Lakh | Buyer: an individual Seller: Shivaay Strategy Hub LLP |
| Aug 2025 | Market trade | ₹83.2 Lakh | Buyer: Comercinate Enterprises Private Limited |
| Aug 2025 | Market trade | ₹64.5 Lakh | Seller: Neo Apex Venture LLP |
| Aug 2025 | Market trade | ₹3.63 Cr | Buyer: Neo Apex Venture LLP , Comercinate Enterprises Private Limited , Shivaay Trading Company Seller: Abundantia Capital Vcc - Abundantia Capital Iii |
Full deal history
All 8 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Associated Brands with Icodex Publishing Solutions Limited
Icodex Publishing Solutions operates one associated brand: iCodex. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Cloud-based publishing solutions are provided for workflow management. | icodexsolutions.com |
Employees and EPFO Compliance at Icodex Publishing Solutions Limited
Employment history and EPFO contributions of people linked to Icodex Publishing Solutions.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
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Verified entity values are shown only after access is granted.
CIN History of Icodex Publishing Solutions Limited
Icodex Publishing Solutions has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L72900PN2018PLC176870, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L72900PN2018PLC176870 | Current |
| U72900PN2018PLC176870 | Previous |
| U72900PN2018PTC176870 | Previous |
Recent Activity on Icodex Publishing Solutions Limited
Icodex Publishing Solutions Limited has 11 board changes on record since 2018: 7 appointments and 4 cessations. The latest: Vishnu Prasad was appointed as Additional Director on 15 May 2026.
7 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Icodex Publishing Solutions Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
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MSME Payment Delays by Icodex Publishing Solutions Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
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Subsidiaries & Group Companies of Icodex Publishing Solutions Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
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GST Compliance of Icodex Publishing Solutions Limited
Icodex Publishing Solutions has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAECI8911R1ZV | Maharashtra | Active | 27 Jun 2018 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
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MCA Filings & Documents of Icodex Publishing Solutions Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
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- Annual returns and statements
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Related news about Icodex Publishing Solutions Limited
Frequently Asked Questions about Icodex Publishing Solutions Limited
Icodex Publishing Solutions is an active public limited company based in Pune, Maharashtra, India. The company works in periodicals publishing, within the printing and publishing industry. It was incorporated on 28 May 2018 (8+ years old) and is registered under CIN L72900PN2018PLC176870.
Icodex Publishing Solutions reported revenue of ₹25.93 Cr for FY 2025-26 (up 18.5% YoY) based on standalone financials.
Icodex Publishing Solutions has 5 current directors:
- Kamalakkannan Govindaraj - Managing Director
- Chetan Shankarlal Soni - Whole-Time Director
- Shilpa Kiran Gududur - Director
- Venkata Subbarao Kalva - Director
- Vishnu Prasad - Additional Director
The GSTIN of Icodex Publishing Solutions is 27AAECI8911R1ZV, registered in Maharashtra.
The CIN (Corporate Identification Number) of Icodex Publishing Solutions is L72900PN2018PLC176870. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes, Icodex Publishing Solutions is a listed company.
Icodex Publishing Solutions was incorporated on 28 May 2018, making it 8+ years old. It is registered with the Registrar of Companies, Pune.
Icodex Publishing Solutions has 8 deals on record (7 market trades, 1 ipo); the latest was in April 2026.
The peers of Icodex Publishing Solutions by revenue are Trundl Labs Private Limited, Team Vertex Cosmos Private Limited, Logical Solutions Ltd, Inexture Solutions Limited, Prototech Solutions and Services Private Limited and 5 more, all in the Outsourcing industry (Application Development, Diversified BPO, Publishing).
Vishnu Prasad was appointed as Additional Director on 15 May 2026. Anand Pravin Pande ceased to be Additional Director on 23 Dec 2024. Anand Pravin Pande was appointed as Director on 22 Dec 2024. Icodex Publishing Solutions has 11 board changes on record in total.
Yes, Icodex Publishing Solutions is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).