IP Rings Ltd.

147.623.78%

2026-08-21

iprings.comBSE: -NSE: IPRINGLTD
Market Cap₹ 189 Cr.
Current Price₹ 142
High / Low₹ 153 / 124
Stock P/E61.0
Book Value₹ 83
Price to Book1.18
Dividend Yield0.00 %
ROCE7.8 %
ROE1.7 %
Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2022 • India: 100.0%

PROS

    CONS

    • A large part of profit comes from other income (226.6% of PBT)
    • Recent results are weak - TTM profit is down 26.5% versus prior year
    • Company has a low return on equity of -1.9% over last 3 years
    • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -10.56x)
    • Company has a low return on capital employed of 5.0%
    • Interest coverage is weak at 1.2x - earnings barely cover interest

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

    Peer comparison

    EDIT COLUMNS
    S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
    1.MOTHERSON170.3541.05179794.930.351075.6677.4835243.7717.7013.638.86
    2.BOSCHLTD48360.0060.36142643.140.56706.10-36.745841.9022.0025.6014.08
    3.UNOMINDA1275.0061.2473627.070.21315.512.105556.8523.7920.7411.14
    4.TIINDIA2936.4593.7256841.540.12293.96-3.046215.3320.2027.338.81
    5.SONACOMS823.0073.7851346.200.41178.5146.671301.2052.3814.7522.55
    6.ENDURANCE2987.1043.3242017.400.39244.528.034314.8930.0118.3312.42
    7.ZFCVINDIA2617.1559.6629784.610.031044.78753.7510661.76992.8920.2312.93
    8.CRAFTSMAN10778.1560.6328189.640.10150.55116.312431.5836.3014.6515.81
    9.MSUMI39.270.0026042.541.481453.20915.5134072.601273.4343.727.58
    10.GABRIEL1438.5585.6525495.420.351081.26925.3514256.831055.0026.3711.71
    11.SANSERA3894.7569.7624304.630.1087.3638.711021.2633.2713.9719.18
    12.IPRINGLTD148.8061.00188.620.001.54-7.7896.0317.807.789.51
    Detailed Comparison with:

    Quarterly Results

    Consolidated Figures in Rs. Crores / View Standalone

    Jun 2023
    76
    72
    Operating Profit
    OPM %
    Other Income
    1
    Interest
    3
    Depreciation
    4
    -2
    Tax %
    36.46%
    Net Profit
    0
    -1
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Sep 2023
    78
    72
    Operating Profit
    OPM %
    Other Income
    0
    Interest
    3
    Depreciation
    4
    -2
    Tax %
    -29.68%
    Net Profit
    0
    -2
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Dec 2023
    74
    69
    Operating Profit
    OPM %
    Other Income
    1
    Interest
    3
    Depreciation
    4
    -1
    Tax %
    31.39%
    Net Profit
    0
    -1
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Mar 2024
    89
    80
    Operating Profit
    OPM %
    Other Income
    0
    Interest
    3
    Depreciation
    4
    2
    Tax %
    29.27%
    Net Profit
    0
    1
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Jun 2024
    82
    75
    Operating Profit
    OPM %
    Other Income
    0
    Interest
    3
    Depreciation
    4
    0
    Tax %
    32.56%
    Net Profit
    1
    0
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Sep 2024
    79
    73
    Operating Profit
    OPM %
    Other Income
    0
    Interest
    3
    Depreciation
    4
    -1
    Tax %
    23.47%
    Net Profit
    -1
    -1
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Dec 2024
    58
    55
    Operating Profit
    OPM %
    Other Income
    0
    Interest
    3
    Depreciation
    5
    -5
    Tax %
    28.28%
    Net Profit
    -4
    -3
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Mar 2025
    84
    77
    Operating Profit
    OPM %
    Other Income
    2
    Interest
    3
    Depreciation
    5
    1
    Tax %
    18.63%
    Net Profit
    3
    0
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Jun 2025
    82
    74
    Operating Profit
    OPM %
    Other Income
    0
    Interest
    3
    Depreciation
    4
    1
    Tax %
    26.98%
    Net Profit
    2
    0
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Sep 2025
    84
    76
    Operating Profit
    OPM %
    Other Income
    1
    Interest
    3
    Depreciation
    4
    1
    Tax %
    64.42%
    Net Profit
    0
    0
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Dec 2025
    85
    78
    Operating Profit
    OPM %
    Other Income
    2
    Interest
    4
    Depreciation
    4
    1
    Tax %
    35.29%
    Net Profit
    1
    0
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Mar 2026
    87
    79
    Operating Profit
    OPM %
    Other Income
    3
    Interest
    4
    Depreciation
    4
    2
    Tax %
    5.26%
    Net Profit
    1
    1
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Jun 2026
    96
    95
    Operating Profit
    OPM %
    Other Income
    1
    Interest
    4
    Depreciation
    5
    2
    Tax %
    24.24%
    Net Profit
    2
    0
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%
    Equity Capital
    13
    Reserves
    0
    Promoter Pledge %
    0.00%

    Profit & Loss

    Consolidated Figures in Rs. Crores / View Standalone

    Mar 2022
    273
    240
    Operating Profit
    35
    OPM %
    13
    Other Income
    2
    Interest
    10
    Depreciation
    14
    11
    Tax %
    26
    Net Profit
    8
    EPS
    6
    Dividend Payout %
    31
    Minority Interest
    0
    Share of Associates
    0
    Adjusted EPS
    6
    Minority Interest
    0
    Share of Associates
    0
    Adjusted EPS
    6
    Mar 2023
    323
    297
    Operating Profit
    29
    OPM %
    9
    Other Income
    3
    Interest
    11
    Depreciation
    16
    2
    Tax %
    28
    Net Profit
    2
    EPS
    1
    Dividend Payout %
    76
    Minority Interest
    0
    Share of Associates
    0
    Adjusted EPS
    1
    Minority Interest
    0
    Share of Associates
    0
    Adjusted EPS
    1
    Mar 2024
    317
    294
    Operating Profit
    26
    OPM %
    8
    Other Income
    3
    Interest
    11
    Depreciation
    17
    -3
    Tax %
    2
    Net Profit
    -3
    EPS
    -3
    Dividend Payout %
    0
    Minority Interest
    0
    Share of Associates
    0
    Adjusted EPS
    -3
    Minority Interest
    0
    Share of Associates
    0
    Adjusted EPS
    -3
    Mar 2025
    303
    281
    Operating Profit
    25
    OPM %
    8
    Other Income
    3
    Interest
    12
    Depreciation
    18
    -6
    Tax %
    23
    Net Profit
    -4
    EPS
    -3
    Dividend Payout %
    0
    Minority Interest
    0
    Share of Associates
    0
    Adjusted EPS
    -3
    Minority Interest
    0
    Share of Associates
    0
    Adjusted EPS
    -3
    Mar 2026
    337
    307
    Operating Profit
    36
    OPM %
    11
    Other Income
    6
    Interest
    14
    Depreciation
    18
    3
    Tax %
    39
    Net Profit
    2
    EPS
    1
    Dividend Payout %
    0
    Minority Interest
    0
    Share of Associates
    0
    Adjusted EPS
    1
    Minority Interest
    0
    Share of Associates
    0
    Adjusted EPS
    1
    TTM
    351
    328
    Operating Profit
    OPM %
    Other Income
    7
    Interest
    14
    Depreciation
    18
    5
    Tax %
    27
    Net Profit
    4
    EPS
    Dividend Payout %
    Minority Interest
    0
    Share of Associates
    -1
    Adjusted EPS
    Minority Interest
    0
    Share of Associates
    -1
    Adjusted EPS

    COMPOUNDED SALES GROWTH

    10 Years:
    5 Years:
    3 Years:
    1%

    COMPOUNDED PROFIT GROWTH

    10 Years:
    5 Years:
    3 Years:
    1%

    STOCK PRICE CAGR

    10 Years:
    2%
    5 Years:
    4%
    3 Years:
    7%
    1 Year:
    23%

    RETURN ON EQUITY

    10 Years:
    5 Years:
    1%
    3 Years:
    -2%
    Last Year:
    2%

    Balance Sheet

    Consolidated Figures in Rs. Crores / View Standalone

    Corporate actions

    2023

    Aug 4

    ₹ 0.10

    Rs.1.0000 per share(10%)Dividend

    2022

    Jul 29

    ₹ 0.20

    Rs.2.0000 per share(20%)Dividend

    2021

    Jul 20

    ₹ 0.15

    Rs.1.5000 per share(15%)Dividend

    Mar 2022
    Equity Capital
    13
    99
    36
    Trade Payables
    63
    90
    Total Liabilities
    301
    154
    Capital Work in Progress
    5
    0
    53
    0
    Cash & Bank
    3
    85
    Total Assets
    301
    Total Debt
    108
    Net Working Capital
    6
    Contingent Liabilities
    7
    Book Value per Share
    88.23
    Face Value
    10.00
    Total Debt
    108
    Net Working Capital
    6
    Contingent Liabilities
    7
    Book Value per Share
    88.23
    Face Value
    10.00
    Mar 2023
    Equity Capital
    13
    98
    30
    Trade Payables
    90
    85
    Total Liabilities
    316
    154
    Capital Work in Progress
    2
    1
    60
    0
    Cash & Bank
    6
    93
    Total Assets
    316
    Total Debt
    96
    Net Working Capital
    -1
    Contingent Liabilities
    2
    Book Value per Share
    87.49
    Face Value
    10.00
    Total Debt
    96
    Net Working Capital
    -1
    Contingent Liabilities
    2
    Book Value per Share
    87.49
    Face Value
    10.00
    Mar 2024
    Equity Capital
    13
    93
    24
    Trade Payables
    98
    80
    Total Liabilities
    307
    146
    Capital Work in Progress
    2
    1
    59
    77
    Cash & Bank
    6
    15
    Total Assets
    307
    Total Debt
    83
    Net Working Capital
    -9
    Contingent Liabilities
    2
    Book Value per Share
    83.63
    Face Value
    10.00
    Total Debt
    83
    Net Working Capital
    -9
    Contingent Liabilities
    2
    Book Value per Share
    83.63
    Face Value
    10.00
    Mar 2025
    Equity Capital
    13
    89
    33
    Trade Payables
    84
    83
    Total Liabilities
    301
    146
    Capital Work in Progress
    3
    4
    53
    67
    Cash & Bank
    2
    25
    Total Assets
    301
    Total Debt
    99
    Net Working Capital
    -17
    Contingent Liabilities
    1
    Book Value per Share
    79.95
    Face Value
    10.00
    Total Debt
    99
    Net Working Capital
    -17
    Contingent Liabilities
    1
    Book Value per Share
    79.95
    Face Value
    10.00
    Mar 2026
    Equity Capital
    13
    90
    43
    Trade Payables
    82
    95
    Total Liabilities
    323
    151
    Capital Work in Progress
    3
    3
    70
    76
    Cash & Bank
    2
    18
    Total Assets
    323
    Total Debt
    120
    Net Working Capital
    -1
    Contingent Liabilities
    1
    Book Value per Share
    81.33
    Face Value
    10.00
    Total Debt
    120
    Net Working Capital
    -1
    Contingent Liabilities
    1
    Book Value per Share
    81.33
    Face Value
    10.00

    Cash Flows

    Consolidated Figures in Rs. Crores / View Standalone

    Mar 2022
    23
    Cash from Investing
    -27
    Cash from Financing
    1
    -3
    Free Cash Flow
    23
    OCF / Net Profit
    2.78
    Cumulative 5-Year FCF
    0
    OCF / Net Profit
    2.78
    Cumulative 5-Year FCF
    0
    Mar 2023
    42
    Cash from Investing
    -13
    Cash from Financing
    -27
    2
    Free Cash Flow
    30
    OCF / Net Profit
    25.27
    Cumulative 5-Year FCF
    0
    OCF / Net Profit
    25.27
    Cumulative 5-Year FCF
    0
    Mar 2024
    35
    Cash from Investing
    -7
    Cash from Financing
    -27
    1
    Free Cash Flow
    26
    OCF / Net Profit
    -10.81
    Cumulative 5-Year FCF
    0
    OCF / Net Profit
    -10.81
    Cumulative 5-Year FCF
    0
    Mar 2025
    19
    Cash from Investing
    -25
    Cash from Financing
    2
    -4
    Free Cash Flow
    5
    OCF / Net Profit
    -4.38
    Cumulative 5-Year FCF
    0
    OCF / Net Profit
    -4.38
    Cumulative 5-Year FCF
    0
    Mar 2026
    8
    Cash from Investing
    -16
    Cash from Financing
    7
    -1
    Free Cash Flow
    -12
    OCF / Net Profit
    4.86
    Cumulative 5-Year FCF
    0
    OCF / Net Profit
    4.86
    Cumulative 5-Year FCF
    0

    Ratios

    Consolidated Figures in Rs. Crores / View Standalone

    Mar 2022
    EPS (₹)
    6.47
    Book Value (₹)
    88.23
    Dividend per Share (₹)
    2.00
    Cash EPS (₹)
    17.78
    Operating Margin %
    12.99%
    Net Margin %
    3.01%
    ROE %
    7.33%
    ROCE %
    9.58%
    2.73%
    Debtor Days
    90
    Inventory Days
    71
    Payable Days
    241
    -81
    Debt to Equity (x)
    0.97x
    Interest Coverage (x)
    2.10x
    1.05x
    Revenue Growth %
    0.00%
    Operating Profit Growth %
    0.00%
    Net Profit Growth %
    0.00%
    0.00%
    P/E (x)
    0.00x
    P/B (x)
    0.00x
    Dividend Yield %
    0.00%
    0.00x
    Mar 2023
    EPS (₹)
    1.32
    Book Value (₹)
    87.49
    Dividend per Share (₹)
    1.00
    Cash EPS (₹)
    13.90
    Operating Margin %
    9.03%
    Net Margin %
    0.52%
    ROE %
    1.50%
    ROCE %
    6.18%
    0.54%
    Debtor Days
    81
    Inventory Days
    64
    Payable Days
    211
    -67
    Debt to Equity (x)
    0.86x
    Interest Coverage (x)
    1.21x
    0.99x
    Revenue Growth %
    18.55%
    Operating Profit Growth %
    -17.54%
    Net Profit Growth %
    -79.65%
    0.00%
    P/E (x)
    0.00x
    P/B (x)
    0.00x
    Dividend Yield %
    0.00%
    0.00x
    Mar 2024
    EPS (₹)
    -2.55
    Book Value (₹)
    83.63
    Dividend per Share (₹)
    0.00
    Cash EPS (₹)
    10.76
    Operating Margin %
    7.25%
    Net Margin %
    -1.02%
    ROE %
    -2.98%
    ROCE %
    4.14%
    -1.04%
    Debtor Days
    88
    Inventory Days
    68
    Payable Days
    249
    -93
    Debt to Equity (x)
    0.79x
    Interest Coverage (x)
    0.71x
    0.95x
    Revenue Growth %
    -2.03%
    Operating Profit Growth %
    -12.50%
    Net Profit Growth %
    -293.62%
    -293.62%
    P/E (x)
    0.00x
    P/B (x)
    1.78x
    Dividend Yield %
    0.00%
    10.40x
    Mar 2025
    EPS (₹)
    -3.49
    Book Value (₹)
    79.95
    Dividend per Share (₹)
    0.00
    Cash EPS (₹)
    10.40
    Operating Margin %
    7.31%
    Net Margin %
    -1.46%
    ROE %
    -4.27%
    ROCE %
    3.08%
    -1.46%
    Debtor Days
    87
    Inventory Days
    67
    Payable Days
    242
    -88
    Debt to Equity (x)
    0.98x
    Interest Coverage (x)
    0.51x
    0.89x
    Revenue Growth %
    -4.21%
    Operating Profit Growth %
    -2.71%
    Net Profit Growth %
    -37.06%
    -37.06%
    P/E (x)
    0.00x
    P/B (x)
    1.75x
    Dividend Yield %
    0.00%
    11.05x
    Mar 2026
    EPS (₹)
    1.36
    Book Value (₹)
    81.33
    Dividend per Share (₹)
    0.00
    Cash EPS (₹)
    15.20
    Operating Margin %
    8.92%
    Net Margin %
    0.51%
    ROE %
    1.68%
    ROCE %
    7.78%
    0.55%
    Debtor Days
    77
    Inventory Days
    67
    Payable Days
    234
    -90
    Debt to Equity (x)
    1.16x
    Interest Coverage (x)
    1.21x
    0.99x
    Revenue Growth %
    11.01%
    Operating Profit Growth %
    46.67%
    Net Profit Growth %
    138.85%
    138.85%
    P/E (x)
    70.78x
    P/B (x)
    1.18x
    Dividend Yield %
    0.00%
    6.58x

    Shareholding Pattern

    Numbers in percentages

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

    Documents

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    Annual Reports

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    Credit Ratings

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    Concalls

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