IP Rings Ltd.

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iprings.comBSE: -NSE: IPRINGLTD

Market Cap₹ 184 Cr.

Current Price

High / Low₹ 187 / 124

Stock P/E49.0

Book Value₹ 85

Price to Book1.15

Dividend Yield0.00 %

ROCE8.1 %

ROE2.6 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence

74%

View full sector analysis →

PROS

CONS

A large part of profit comes from other income (166.2% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -19.35x)
Company has a low return on equity of -1.0% over last 3 years
Company has a low return on capital employed of 5.4%
Interest coverage is weak at 1.3x - earnings barely cover interest

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesAuto Ancillary

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	MOTHERSON	164.30	39.59	173409.49	0.37	1075.66	77.48	35243.77	17.70	13.63	8.86
2.	BOSCHLTD	48388.75	60.40	142727.94	0.56	706.10	-36.74	5841.90	22.00	25.60	14.08
3.	UNOMINDA	1202.40	57.75	69434.66	0.22	315.51	2.10	5556.85	23.79	20.74	11.14
4.	TIINDIA	2607.25	83.21	50469.14	0.13	293.96	-3.04	6215.33	20.20	27.33	8.81
5.	SONACOMS	788.95	70.76	49240.61	0.43	178.51	46.67	1301.20	52.38	14.75	22.55
6.	ENDURANCE	2696.75	39.11	37933.25	0.43	244.52	8.03	4314.89	30.01	18.33	12.42
7.	CRAFTSMAN	11663.75	65.61	30505.88	0.10	150.55	116.31	2431.58	36.30	14.65	15.81
8.	ZFCVINDIA	2548.90	58.10	29007.88	0.03	1044.78	753.75	10661.76	992.89	20.23	12.93
9.	SANSERA	4130.20	73.97	25773.92	0.10	87.36	38.71	1021.26	33.27	14.29	19.18
10.	MSUMI	36.30	38.37	24072.93	1.60	1453.20	915.51	34072.60	1273.43	43.72	7.58
11.	GABRIEL	1345.45	80.11	23845.41	0.37	1081.26	925.35	14256.83	1055.00	26.37	11.71
12.	IPRINGLTD	145.00	59.44	183.80	0.00	1.54	-7.78	96.03	17.80	7.78	9.51

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	76	78	74	89	82	79	58	84	82	84	85	87	96
	72	72	69	80	75	73	55	77	74	76	78	79	95
Operating Profit	4	5	5	9	7	6	2	7	7	8	7	7	1
OPM %	5.26%	6.75%	6.75%	9.86%	8.58%	7.35%	4.24%	8.15%	9.18%	9.08%	8.81%	8.65%	0.94%
	1	0	1	0	0	0	0	2	0	1	1	2	1
Interest	3	3	3	3	3	3	3	3	3	3	4	4	4
Depreciation	4	4	4	4	4	4	5	5	4	4	4	4	5
Profit before Tax	-2	-2	-1	2	0	-1	-5	1	1	1	0	2	2
Tax %	36.46%	-29.68%	31.39%	29.27%	32.56%	23.23%	28.23%	18.63%	26.98%	66.34%	36.00%	5.42%	24.49%
Net Profit	-1	-2	-1	1	0	-1	-4	1	0	0	0	2	2
	-0.96	-1.59	-0.75	1.14	0.23	-0.60	-2.81	0.66	0.36	0.27	0.26	1.24	1.20

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	174	203	212	198	198	273	323	317	303	337	351
	160	179	184	176	174	240	297	294	281	307	328
Operating Profit	13	24	28	22	24	33	26	23	22	30	23
OPM %	7.65%	11.81%	13.03%	10.90%	12.34%	12.09%	8.00%	7.25%	7.31%	8.92%	6.68%
	2	1	1	1	1	2	3	3	3	5	6
Interest	10	7	8	9	7	10	11	11	12	14	14
Depreciation	8	8	10	11	12	14	16	17	18	18	18
Profit before Tax	-3	10	11	2	7	11	2	-3	-5	4	5
Tax %	43.55%	27.67%	27.97%	36.69%	24.04%	25.66%	27.25%	2.21%	28.94%	29.17%	27.65%
Net Profit	-1	7	8	1	5	8	2	-3	-3	3	4
EPS	0.00	0.00	0.00	0.00	3.92	6.48	1.37	-2.15	-2.52	2.12	—
Dividend Payout %	0.00%	0.00%	15.95%	0.00%	38.27%	30.86%	73.02%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 11%
3 Years:: 1%

COMPOUNDED PROFIT GROWTH

10 Years:: 29%
5 Years:: -12%
3 Years:: 16%

STOCK PRICE CAGR

10 Years:: 2%
5 Years:: 5%
3 Years:: 8%
1 Year:: 26%

RETURN ON EQUITY

10 Years:: 3%
5 Years:: 1%
3 Years:: -1%
Last Year:: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	13	13	13	13	13	13	13	13	13	13
	74	81	89	88	93	99	98	94	90	93
	48	60	72	68	84	91	75	61	79	100
Trade Payables	33	28	35	30	53	63	90	98	84	82
	22	24	19	38	30	34	39	43	37	38
Total Liabilities	189	207	228	237	273	301	316	308	303	326
	85	95	118	119	145	154	154	146	146	151
Capital Work in Progress	3	4	2	19	2	5	2	2	3	3
	0	0	0	0	0	1	1	2	7	7
	34	35	40	38	47	53	60	59	53	70
	0	0	0	0	0	0	0	77	67	76
Cash & Bank	2	5	6	12	7	3	6	6	1	1
	65	67	62	49	72	85	93	15	25	18
Total Assets	189	207	228	237	273	301	316	308	303	326

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	11	24	23	33	18	24	43	35	19	8
Cash from Investing	30	-24	-22	-15	-26	-27	-13	-7	-26	-16
Cash from Financing	-36	6	2	-11	4	1	-27	-27	2	7
	4	4	0	6	-5	-3	2	1	-5	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	56.58	56.58	56.58	56.58	56.58	56.58	56.58	56.58	56.58
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	43.42	43.42	43.42	43.42	43.42	43.42	43.42	43.42	43.42

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

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