Blue Pebble Ltd. (BLUEPEBBLE)
SME CapServices stocks · SME cap · NSE
Blue Pebble Ltd. specializes in innovative workspace design, offering spatial branding, interior fit-out, and immersive digital experiences. The company focuses on strategic storytelling and high-impact workplace solutions, aiming to cement its leadership in design and reinforce its position as a trusted partner.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust needs verification, price trend is neutral, and recent execution is weak.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Average · 30/100YoY data unavailable — classification deferred
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹11.1 Cr | NDF | NDF |
| EBITDA | ₹-0.1 Cr | -105.9% | -109.3% |
| Operating margin | -0.9% | -853 bps | -1119 bps |
| PAT | ₹-0.3 Cr | NDF | NDF |
| PAT margin | -2.4% | -821 bps | -956 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Blue Pebble reports FY24-25 revenue of ₹45.66 Cr, marking a 106.4% YoY growth. EBITDA increased to ₹6.39 Cr, but EBITDA margin contracted to 13.99% from 22.80% in FY23-24.
The company demonstrates robust top-line growth, more than doubling revenue YoY, indicating strong demand for its services. However, a significant contraction in EBITDA and PAT margins warrants close monitoring, suggesting potential cost pressures or a shift in project mix. The strong project pipeline for FY25-26 indicates continued demand.
Revenue Distribution by Business Segments (FY24-25)
Latest issuer-disclosed distribution across 3 reported categories.
Strategic Partnerships
Management identifies strategic partnerships as a key growth initiative.
Technology Integration
The company is developing an AEC Unified Platform with advanced design tools and AI/analytics capabilities.
Market Entry & Sales Team Expansion
Management plans to expand its sales team and enter new markets as strategic growth initiatives.
Upcoming Projects Pipeline
The company has upcoming projects for FY25-26 with a total financial contribution of over ₹10.3 Cr as of April 2025.
New Equipment Acquisition
The company has acquired an EFI Pro 30h Hybrid, HP Latex 700 & 800, Laser Machine, CNC Router, UV Braille Embossing Machine, and Paint Booth.
Strong Demand for Hybrid Workplaces
A panel on 'Hybrid & Hyperconnected Workplaces' at the 22nd Smart Office India Summit generated 7+ high-value leads.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The document provides only annual financial data (FY21-25), making year-over-year comparison the only relevant basis to assess growth and performance trends.
Revenue From Operations (FY24-25)
₹45.66 Cr, a 106.4% YoY growth from ₹22.06 Cr in FY23-24.
EBITDA (FY24-25)
₹6.39 Cr, a 27% increase from ₹5.03 Cr in FY23-24.
EBITDA Margin (FY24-25)
13.99%, down from 22.80% in FY23-24.
PAT (FY24-25)
₹5.06 Cr, a 35% increase from ₹3.75 Cr in FY23-24.
Focus on Strategic Growth Initiatives
Management is focused on team expansion, market entry, sales team expansion, strategic partnerships, brand positioning, and technology integration.
Development of AEC Unified Platform
The company is developing a platform with modules for design, field management, collaboration, project management, AI/analytics, and integration.
Commitment to Operational Discipline and Quality
Management emphasizes operational discipline, workplace safety, creative thought process, environmental responsibility, and superior quality output.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth Rate | 106.4% YoY in FY24-25 | Sustained high growth rates and execution of the FY25-26 project pipeline. |
| EBITDA Margin Trend | 13.99% in FY24-25 (down from 22.80%) | Stabilization or improvement in margins, indicating better cost control or project profitability. |
| AEC Unified Platform Development | Modules are under development | Timely launch and adoption of the platform, and its contribution to efficiency or new revenue streams. |
| New Project Wins and Execution | Upcoming projects for FY25-26 valued at over ₹10.3 Cr | Successful execution of these projects and continued expansion of the order book. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
48NeutralMACD +
Technical chart
BLUEPEBBLEdaily · 1Y · AUTO-28.4%Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 68. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 68 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 57% off 52W high · 42% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 5 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 5 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
OVERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Balance sheet contributes 10/15 to the score.
- Valuation contributes 2/30 to the score.
- Growth contributes 0/25 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Fair-value margin of safety is negative at -69900.0%.
- Growth is weaker at 0/25; verify the latest quarterly trend.
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Claim history is still being built. It ranks around the 20th percentile of the scored universe and 20th percentile within Services. Main check: cash conversion is weak at 28/100.
Mixed Trust Lite: Promoter holding is 73.5%. Key concern: Operating cash flow is negative at ₹-4 Cr.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · Services: 20th pctile, median 66 · SME: 21st pctile, median 64
6 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 73.5%.
- ▸Promoter pledge is zero.
- ▸Debt/equity is 0.04.
Trust risks
- ▸Operating cash flow is negative at ₹-4 Cr.
- ▸Only 0 years of positive FCF.
- ▸ROCE is low at 2.3%.
- ▸ROE is low at 1.8%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 69.90
- P/B
- 1.23
- EV/EBITDA
- 18.51
- Market Cap
- 34.30Cr
Profitability
- ROE
- 1.77%
- ROCE
- 2.28%
- ROA
- 1.51%
- Dividend Y
- 0.60%
Growth (CAGR)
- Revenue 5Y
- -52.61%
- EPS 5Y
- -90.32%
- Revenue 3Y
- -52.61%
- EPS 3Y
- -90.32%
Balance Sheet
- Debt/Equity
- 0.04
- Interest Coverage
- —
- Altman Z
- 6.64
- Book Value
- 68.20
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -4.03 Cr
- EPS TTM
- 1.20
Shareholding
- Promoter Hold
- 73.53%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 18%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in Services, ranked by similarity
Peers
Business-comparable names in Services, ranked by similarity
Peers
Business-comparable peers in Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.