Modern Insulators Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Insulators: 88.7% • Terry Towels: 11.3%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company is almost debt free
- Latest quarter profit grew 79.5% YoY, showing strong momentum
- Company comfortably covers its interest (11.9x coverage)
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (30.5% of PBT)
- Company has a low return on capital employed of 9.1%
- Company has a low return on equity of 8.4% over last 3 years
- Company has delivered a poor sales growth of 2.9% over past five years
- Effective tax rate is unusually low at 13.4% - earnings may be flattered
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SYRMA | 1588.65 | 83.22 | 30634.01 | 0.09 | 105.69 | 111.72 | 1588.62 | 68.29 | 17.70 | 10.17 |
| KAYNES | 3500.00 | 67.87 | 23462.13 | 0.00 | 56.43 | -24.37 | 946.02 | 40.47 | 13.38 | 15.60 |
| AVALON | 2265.95 | 113.44 | 15155.19 | 0.00 | 34.87 | 145.31 | 484.41 | 49.83 | 20.34 | 11.96 |
| UTLSOLAR | 446.70 | 46.58 | 13709.30 | 0.00 | 577.94 | — | 13456.93 | — | 36.46 | 18.94 |
| CYIENTDLM | 904.15 | 87.42 | 7177.45 | 0.00 | 16.29 | 118.21 | 373.80 | 34.25 | 10.41 | 9.93 |
| VIKRAMSOLR | 166.80 | 16.94 | 6044.07 | 0.00 | 19.78 | -85.17 | 1563.09 | 37.89 | 34.07 | 8.06 |
| SAATVIKGL | 396.30 | 20.30 | 5037.17 | 0.00 | 5.36 | -95.49 | 511.01 | -44.20 | 55.18 | 6.62 |
| WEBELSOLAR | 75.79 | 10.86 | 3290.52 | 0.33 | 77.79 | — | 372.60 | 115.39 | 63.74 | 33.70 |
| KERNEX | 1734.35 | 15.28 | 2914.34 | 0.00 | 109.85 | 1382.00 | 503.58 | 800.38 | 23.69 | 32.33 |
| MODINSULAT | 449.50 | 22.51 | 2119.12 | 0.00 | 29.60 | 94.43 | 188.30 | 33.19 | 10.53 | 16.89 |
| INA | 93.04 | 10.24 | 2051.08 | 0.00 | 380.25 | 796.94 | 7406.98 | 1766.82 | 34.98 | 9.74 |
| IKIO | 224.45 | 37.30 | 1734.57 | 0.00 | 11.05 | 364.51 | 169.29 | 40.91 | 10.02 | 12.97 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 90 | 106 | 107 | 140 | 104 | 115 | 125 | 160 | 141 | 177 | 199 | 202 | 187 | |
| 85 | 101 | 97 | 125 | 98 | 110 | 115 | 142 | 128 | 157 | 168 | 170 | 160 | |
| Operating Profit | 4 | 5 | 11 | 15 | 5 | 5 | 10 | 18 | 13 | 19 | 32 | 32 | 27 |
| OPM % | 4.76% | 5.16% | 9.87% | 10.66% | 5.13% | 4.27% | 7.84% | 11.14% | 9.42% | 10.82% | 15.80% | 15.65% | 14.60% |
| 3 | 3 | 3 | 3 | 6 | 10 | 5 | -1 | 5 | 7 | 4 | 6 | 9 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before Tax | 3 | 6 | 10 | 15 | 8 | 12 | 12 | 13 | 15 | 22 | 32 | 34 | 37 |
| Tax % | -13.47% | -6.76% | 2.31% | -5.12% | 1.27% | -6.68% | 21.54% | 31.91% | -5.56% | 22.05% | 23.51% | 26.94% | 21.24% |
| Net Profit | 4 | 6 | 10 | 16 | 8 | 13 | 9 | 9 | 16 | 18 | 25 | 25 | 29 |
| 0.84 | 1.31 | 2.15 | 3.44 | 1.65 | 2.78 | 1.96 | 1.92 | 3.42 | 3.72 | 5.23 | 5.22 | 6.14 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 461 | 386 | 403 | 440 | 437 | 390 | 436 | 431 | 443 | 503 | 765 | |
| 420 | 351 | 371 | 405 | 401 | 350 | 414 | 406 | 408 | 466 | 655 | |
| Operating Profit | 41 | 35 | 32 | 35 | 35 | 40 | 23 | 25 | 35 | 37 | 110 |
| OPM % | 8.92% | 9.19% | 8.06% | 7.85% | 8.12% | 10.28% | 5.16% | 5.82% | 7.94% | 7.39% | 14.32% |
| 12 | 9 | 7 | 10 | 7 | 16 | 12 | 14 | 12 | 21 | 26 | |
| Interest | 13 | 12 | 12 | 11 | 13 | 9 | 5 | 4 | 3 | 4 | 5 |
| Depreciation | 8 | 10 | 10 | 10 | 10 | 11 | 9 | 9 | 9 | 9 | 9 |
| Profit before Tax | 32 | 23 | 18 | 24 | 19 | 36 | 21 | 26 | 35 | 45 | 125 |
| Tax % | 7.67% | 31.74% | 6.74% | -8.59% | -19.86% | 1.04% | -6.61% | -8.67% | -4.01% | 13.42% | 23.50% |
| Net Profit | 29 | 15 | 17 | 26 | 23 | 35 | 22 | 28 | 36 | 39 | 96 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 7.51 | 4.65 | 6.00 | 7.74 | 8.32 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 2%
- 5 Years:
- 3%
- 3 Years:
- 5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 9%
- 5 Years:
- 12%
- 3 Years:
- 21%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 8%
- 5 Years:
- 8%
- 3 Years:
- 8%
- Last Year:
- 9%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 |
| 243 | 194 | 211 | 236 | 258 | 293 | 315 | 343 | 380 | 419 | |
| 62 | 78 | 84 | 94 | 101 | 24 | 26 | 8 | 19 | 19 | |
| Trade Payables | 26 | 34 | 33 | 27 | 46 | 42 | 40 | 32 | 33 | 38 |
| 50 | 74 | 81 | 77 | 77 | 85 | 79 | 74 | 76 | 81 | |
| Total Liabilities | 402 | 427 | 456 | 481 | 530 | 491 | 507 | 505 | 555 | 605 |
| 135 | 202 | 195 | 190 | 192 | 182 | 175 | 168 | 161 | 157 | |
| Capital Work in Progress | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 20 | 1 | 0 | 2 | 2 | 9 | 10 | 5 | 24 | 51 | |
| 63 | 72 | 79 | 93 | 124 | 114 | 123 | 117 | 106 | 125 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 113 | 122 | |
| Cash & Bank | 5 | 2 | 2 | 17 | 1 | 4 | 7 | 5 | 8 | 6 |
| 178 | 150 | 180 | 179 | 210 | 182 | 192 | 209 | 144 | 144 | |
| Total Assets | 402 | 427 | 456 | 481 | 530 | 491 | 507 | 505 | 555 | 605 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 17 | 20 | 36 | 31 | 34 | 50 | 10 | 23 | 11 | 40 | |
| Cash from Investing | -8 | -9 | -30 | -15 | -43 | 37 | -4 | -4 | -16 | -37 |
| Cash from Financing | -1 | -17 | -5 | -2 | -5 | -87 | -3 | -22 | 8 | -4 |
| 0 | -1 | 0 | 14 | -14 | 1 | 3 | -3 | 3 | -1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
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