Indo-National Ltd.
•₹ 329.251.04%
2026-08-21
PROS
- Company has delivered good profit growth of 63.5% CAGR over last 5 years
- Latest quarter profit grew 96.1% YoY, showing strong momentum
- Company comfortably covers its interest (48.6x coverage)
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
- Attractively priced for its growth - PEG of 0.0
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Recent results are weak - TTM profit is down 1261.1% versus prior year
- A large part of profit comes from other income (125.6% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.18x)
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | EXIDEIND | 459.20 | 41.89 | 39032.00 | 0.44 | 351.30 | 27.94 | 5528.38 | 17.75 | 9.04 | 11.25 |
| 2. | HBLENGINE | 671.30 | 23.83 | 18608.10 | 0.45 | 109.14 | -23.86 | 638.03 | 6.03 | 27.46 | 22.72 |
| 3. | ARE&M | 929.45 | 18.45 | 17011.29 | 1.14 | 190.94 | 15.86 | 4214.54 | 23.92 | 15.73 | 9.63 |
| 4. | EVEREADY | 357.40 | 14.57 | 2597.84 | 0.70 | 36.97 | 22.30 | 407.71 | 8.97 | 23.95 | 15.01 |
| 5. | NIPPOBATRY | 331.30 | 0.00 | 248.47 | 1.13 | 2.01 | 96.10 | 116.14 | -2.76 | 35.63 | 0.11 |
| 6. | LAKHNNATNL | 256.85 | 0.00 | 192.64 | 0.76 | 1.66 | 97.26 | 63.52 | 9.49 | 17.04 | 4.07 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 132 | 172 | 168 | 169 | 121 | 128 | 122 | 97 | 119 | 120 | 106 | 107 | 116 | |
| 130 | 164 | 155 | 151 | 131 | 127 | 133 | 99 | 117 | 116 | 113 | 125 | 120 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 2 | 3 | 3 | 3 | 182 | 3 | 2 | 3 | 2 | 2 | 2 | 2 | 1 |
| Interest | 3 | 4 | 3 | 3 | 3 | -0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 4 | 4 | 4 | 5 | 5 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| -3 | 2 | 8 | 12 | 164 | 2 | -12 | -3 | 1 | 2 | -8 | -20 | -3 | |
| Tax % | -5.38% | -42.06% | 27.96% | 26.22% | 19.87% | -15.43% | 2.58% | 103.03% | 10.08% | 27.33% | 7.21% | -2.49% | 162.42% |
| Net Profit | 0 | 0 | 0 | 0 | 132 | 2 | -12 | 0 | 1 | 1 | -8 | -21 | 2 |
| -1 | 6 | 5 | 3 | 178 | 3 | -16 | 0 | 1 | 2 | -10 | -28 | 0 | |
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 132
- 130
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 3
- Depreciation
- 4
- -3
- Tax %
- -5.38%
- Net Profit
- 0
- -1
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 172
- 164
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 4
- Depreciation
- 4
- 2
- Tax %
- -42.06%
- Net Profit
- 0
- 6
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 168
- 155
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 3
- Depreciation
- 4
- 8
- Tax %
- 27.96%
- Net Profit
- 0
- 5
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 169
- 151
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 3
- Depreciation
- 5
- 12
- Tax %
- 26.22%
- Net Profit
- 0
- 3
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 121
- 131
- Operating Profit
- —
- OPM %
- —
- Other Income
- 182
- Interest
- 3
- Depreciation
- 5
- 164
- Tax %
- 19.87%
- Net Profit
- 132
- 178
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 128
- 127
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- -0
- Depreciation
- 3
- 2
- Tax %
- -15.43%
- Net Profit
- 2
- 3
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 122
- 133
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 0
- Depreciation
- 3
- -12
- Tax %
- 2.58%
- Net Profit
- -12
- -16
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 97
- 99
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 1
- Depreciation
- 3
- -3
- Tax %
- 103.03%
- Net Profit
- 0
- 0
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 119
- 117
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 1
- Depreciation
- 3
- 1
- Tax %
- 10.08%
- Net Profit
- 1
- 1
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 120
- 116
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 1
- Depreciation
- 3
- 2
- Tax %
- 27.33%
- Net Profit
- 1
- 2
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 106
- 113
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 1
- Depreciation
- 3
- -8
- Tax %
- 7.21%
- Net Profit
- -8
- -10
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 107
- 125
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 1
- Depreciation
- 3
- -20
- Tax %
- -2.49%
- Net Profit
- -21
- -28
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 116
- 120
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 3
- -3
- Tax %
- 162.42%
- Net Profit
- 2
- 0
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 362 | 378 | 394 | 443 | 508 | 532 | 570 | 572 | 641 | 467 | 449 | |
| 338 | 347 | 352 | 402 | 447 | 475 | 544 | 557 | 600 | 490 | 474 | |
| Operating Profit | 42 | 46 | 58 | 58 | 76 | 75 | 45 | 20 | 51 | 168 | — |
| OPM % | 12 | 12 | 15 | 13 | 15 | 14 | 8 | 4 | 8 | 36 | — |
| Other Income | 18 | 16 | 15 | 17 | 16 | 18 | 19 | 5 | 10 | 190 | 6 |
| Interest | 6 | 6 | 5 | 12 | 17 | 13 | 11 | 11 | 14 | 3 | 3 |
| Depreciation | 8 | 8 | 9 | 11 | 12 | 13 | 13 | 17 | 18 | 13 | 13 |
| 28 | 33 | 43 | 35 | 18 | 50 | 21 | -8 | 19 | 151 | -31 | |
| Tax % | 53 | 36 | 29 | 25 | 43 | 35 | 36 | 0 | 25 | 19 | 16 |
| Net Profit | 13 | 21 | 31 | 27 | 10 | 33 | 13 | -8 | 15 | 122 | -26 |
| EPS | 0 | 0 | 60 | 0 | 0 | 40 | 11 | -8 | 13 | 165 | — |
| Dividend Payout % | 66 | 49 | 34 | 41 | 133 | 31 | 47 | -66 | 39 | 3 | — |
| Minority Interest | 1 | -2 | -9 | -8 | -9 | -2 | -5 | 3 | -5 | 2 | -0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -0 | 0 | 0 | 0 |
| Adjusted EPS | 19 | 26 | 30 | 25 | 2 | 41 | 11 | -8 | 13 | 165 | — |
| Minority Interest | 1 | -2 | -9 | -8 | -9 | -2 | -5 | 3 | -5 | 2 | -0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -0 | 0 | 0 | 0 |
| Adjusted EPS | 19 | 26 | 30 | 25 | 2 | 41 | 11 | -8 | 13 | 165 | — |
Mar 2016
- 362
- 338
- Operating Profit
- 42
- OPM %
- 12
- Other Income
- 18
- Interest
- 6
- Depreciation
- 8
- 28
- Tax %
- 53
- Net Profit
- 13
- EPS
- 0
- Dividend Payout %
- 66
- Minority Interest
- 1
- Share of Associates
- 0
- Adjusted EPS
- 19
- Minority Interest
- 1
- Share of Associates
- 0
- Adjusted EPS
- 19
Mar 2017
- 378
- 347
- Operating Profit
- 46
- OPM %
- 12
- Other Income
- 16
- Interest
- 6
- Depreciation
- 8
- 33
- Tax %
- 36
- Net Profit
- 21
- EPS
- 0
- Dividend Payout %
- 49
- Minority Interest
- -2
- Share of Associates
- 0
- Adjusted EPS
- 26
- Minority Interest
- -2
- Share of Associates
- 0
- Adjusted EPS
- 26
Mar 2018
- 394
- 352
- Operating Profit
- 58
- OPM %
- 15
- Other Income
- 15
- Interest
- 5
- Depreciation
- 9
- 43
- Tax %
- 29
- Net Profit
- 31
- EPS
- 60
- Dividend Payout %
- 34
- Minority Interest
- -9
- Share of Associates
- 0
- Adjusted EPS
- 30
- Minority Interest
- -9
- Share of Associates
- 0
- Adjusted EPS
- 30
Mar 2019
- 443
- 402
- Operating Profit
- 58
- OPM %
- 13
- Other Income
- 17
- Interest
- 12
- Depreciation
- 11
- 35
- Tax %
- 25
- Net Profit
- 27
- EPS
- 0
- Dividend Payout %
- 41
- Minority Interest
- -8
- Share of Associates
- 0
- Adjusted EPS
- 25
- Minority Interest
- -8
- Share of Associates
- 0
- Adjusted EPS
- 25
Mar 2020
- 508
- 447
- Operating Profit
- 76
- OPM %
- 15
- Other Income
- 16
- Interest
- 17
- Depreciation
- 12
- 18
- Tax %
- 43
- Net Profit
- 10
- EPS
- 0
- Dividend Payout %
- 133
- Minority Interest
- -9
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- -9
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2021
- 532
- 475
- Operating Profit
- 75
- OPM %
- 14
- Other Income
- 18
- Interest
- 13
- Depreciation
- 13
- 50
- Tax %
- 35
- Net Profit
- 33
- EPS
- 40
- Dividend Payout %
- 31
- Minority Interest
- -2
- Share of Associates
- 0
- Adjusted EPS
- 41
- Minority Interest
- -2
- Share of Associates
- 0
- Adjusted EPS
- 41
Mar 2022
- 570
- 544
- Operating Profit
- 45
- OPM %
- 8
- Other Income
- 19
- Interest
- 11
- Depreciation
- 13
- 21
- Tax %
- 36
- Net Profit
- 13
- EPS
- 11
- Dividend Payout %
- 47
- Minority Interest
- -5
- Share of Associates
- -1
- Adjusted EPS
- 11
- Minority Interest
- -5
- Share of Associates
- -1
- Adjusted EPS
- 11
Mar 2023
- 572
- 557
- Operating Profit
- 20
- OPM %
- 4
- Other Income
- 5
- Interest
- 11
- Depreciation
- 17
- -8
- Tax %
- 0
- Net Profit
- -8
- EPS
- -8
- Dividend Payout %
- -66
- Minority Interest
- 3
- Share of Associates
- -0
- Adjusted EPS
- -8
- Minority Interest
- 3
- Share of Associates
- -0
- Adjusted EPS
- -8
Mar 2024
- 641
- 600
- Operating Profit
- 51
- OPM %
- 8
- Other Income
- 10
- Interest
- 14
- Depreciation
- 18
- 19
- Tax %
- 25
- Net Profit
- 15
- EPS
- 13
- Dividend Payout %
- 39
- Minority Interest
- -5
- Share of Associates
- 0
- Adjusted EPS
- 13
- Minority Interest
- -5
- Share of Associates
- 0
- Adjusted EPS
- 13
Mar 2025
- 467
- 490
- Operating Profit
- 168
- OPM %
- 36
- Other Income
- 190
- Interest
- 3
- Depreciation
- 13
- 151
- Tax %
- 19
- Net Profit
- 122
- EPS
- 165
- Dividend Payout %
- 3
- Minority Interest
- 2
- Share of Associates
- 0
- Adjusted EPS
- 165
- Minority Interest
- 2
- Share of Associates
- 0
- Adjusted EPS
- 165
TTM
- 449
- 474
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 3
- Depreciation
- 13
- -31
- Tax %
- 16
- Net Profit
- -26
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- -2%
- 3 Years:
- -6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 145%
- 3 Years:
- 150%
STOCK PRICE CAGR
- 10 Years:
- -4%
- 5 Years:
- -8%
- 3 Years:
- -8%
- 1 Year:
- -32%
RETURN ON EQUITY
- 10 Years:
- 11%
- 5 Years:
- 12%
- 3 Years:
- 13%
- Last Year:
- 36%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| 172 | 198 | 209 | 219 | 211 | 238 | 236 | 228 | 232 | 434 | |
| 27 | 34 | 34 | 53 | 71 | 51 | 54 | 86 | 74 | 8 | |
| Trade Payables | 18 | 26 | 57 | 56 | 69 | 63 | 59 | 69 | 73 | 65 |
| 90 | 67 | 127 | 150 | 142 | 157 | 158 | 128 | 217 | 211 | |
| Total Liabilities | 311 | 329 | 432 | 481 | 496 | 513 | 511 | 515 | 599 | 721 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 134 | 158 | 163 | 182 | 188 | 182 | 215 | 226 | 254 | 223 | |
| Capital Work in Progress | 1 | 2 | 14 | 5 | 1 | 1 | 2 | 4 | 2 | 4 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 96 | |
| 45 | 52 | 49 | 62 | 88 | 87 | 116 | 88 | 97 | 117 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 133 | 90 | |
| Cash & Bank | 36 | 13 | 51 | 51 | 55 | 44 | 32 | 23 | 32 | 48 |
| 96 | 104 | 155 | 182 | 164 | 198 | 146 | 174 | 82 | 142 | |
| Total Assets | 311 | 329 | 432 | 481 | 496 | 513 | 511 | 515 | 599 | 721 |
| Total Debt | 58 | 47 | 62 | 110 | 121 | 123 | 124 | 132 | 140 | 53 |
| Net Working Capital | 86 | 68 | 64 | 91 | 112 | 151 | 122 | 83 | 95 | 172 |
| Contingent Liabilities | 42 | 70 | 131 | 124 | 117 | 128 | 104 | 103 | 118 | 99 |
| Book Value per Share | 467.84 | 539.13 | 568.64 | 593.24 | 571.45 | 645.33 | 320.26 | 308.64 | 314.91 | 584.22 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 5.00 | 5.00 | 5.00 | 5.00 |
| Total Debt | 58 | 47 | 62 | 110 | 121 | 123 | 124 | 132 | 140 | 53 |
| Net Working Capital | 86 | 68 | 64 | 91 | 112 | 151 | 122 | 83 | 95 | 172 |
| Contingent Liabilities | 42 | 70 | 131 | 124 | 117 | 128 | 104 | 103 | 118 | 99 |
| Book Value per Share | 467.84 | 539.13 | 568.64 | 593.24 | 571.45 | 645.33 | 320.26 | 308.64 | 314.91 | 584.22 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 5.00 | 5.00 | 5.00 | 5.00 |
Mar 2016
- Equity Capital
- 4
- 172
- 27
- Trade Payables
- 18
- 90
- Total Liabilities
- 311
- 134
- Capital Work in Progress
- 1
- 0
- 45
- 0
- Cash & Bank
- 36
- 96
- Total Assets
- 311
- Total Debt
- 58
- Net Working Capital
- 86
- Contingent Liabilities
- 42
- Book Value per Share
- 467.84
- Face Value
- 10.00
- Total Debt
- 58
- Net Working Capital
- 86
- Contingent Liabilities
- 42
- Book Value per Share
- 467.84
- Face Value
- 10.00
Mar 2017
- Equity Capital
- 4
- 198
- 34
- Trade Payables
- 26
- 67
- Total Liabilities
- 329
- 158
- Capital Work in Progress
- 2
- 0
- 52
- 0
- Cash & Bank
- 13
- 104
- Total Assets
- 329
- Total Debt
- 47
- Net Working Capital
- 68
- Contingent Liabilities
- 70
- Book Value per Share
- 539.13
- Face Value
- 10.00
- Total Debt
- 47
- Net Working Capital
- 68
- Contingent Liabilities
- 70
- Book Value per Share
- 539.13
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 4
- 209
- 34
- Trade Payables
- 57
- 127
- Total Liabilities
- 432
- 163
- Capital Work in Progress
- 14
- 0
- 49
- 0
- Cash & Bank
- 51
- 155
- Total Assets
- 432
- Total Debt
- 62
- Net Working Capital
- 64
- Contingent Liabilities
- 131
- Book Value per Share
- 568.64
- Face Value
- 10.00
- Total Debt
- 62
- Net Working Capital
- 64
- Contingent Liabilities
- 131
- Book Value per Share
- 568.64
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 4
- 219
- 53
- Trade Payables
- 56
- 150
- Total Liabilities
- 481
- 182
- Capital Work in Progress
- 5
- 0
- 62
- 0
- Cash & Bank
- 51
- 182
- Total Assets
- 481
- Total Debt
- 110
- Net Working Capital
- 91
- Contingent Liabilities
- 124
- Book Value per Share
- 593.24
- Face Value
- 10.00
- Total Debt
- 110
- Net Working Capital
- 91
- Contingent Liabilities
- 124
- Book Value per Share
- 593.24
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 4
- 211
- 71
- Trade Payables
- 69
- 142
- Total Liabilities
- 496
- 188
- Capital Work in Progress
- 1
- 0
- 88
- 0
- Cash & Bank
- 55
- 164
- Total Assets
- 496
- Total Debt
- 121
- Net Working Capital
- 112
- Contingent Liabilities
- 117
- Book Value per Share
- 571.45
- Face Value
- 10.00
- Total Debt
- 121
- Net Working Capital
- 112
- Contingent Liabilities
- 117
- Book Value per Share
- 571.45
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 4
- 238
- 51
- Trade Payables
- 63
- 157
- Total Liabilities
- 513
- 182
- Capital Work in Progress
- 1
- 0
- 87
- 0
- Cash & Bank
- 44
- 198
- Total Assets
- 513
- Total Debt
- 123
- Net Working Capital
- 151
- Contingent Liabilities
- 128
- Book Value per Share
- 645.33
- Face Value
- 10.00
- Total Debt
- 123
- Net Working Capital
- 151
- Contingent Liabilities
- 128
- Book Value per Share
- 645.33
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 4
- 236
- 54
- Trade Payables
- 59
- 158
- Total Liabilities
- 511
- 215
- Capital Work in Progress
- 2
- 0
- 116
- 0
- Cash & Bank
- 32
- 146
- Total Assets
- 511
- Total Debt
- 124
- Net Working Capital
- 122
- Contingent Liabilities
- 104
- Book Value per Share
- 320.26
- Face Value
- 5.00
- Total Debt
- 124
- Net Working Capital
- 122
- Contingent Liabilities
- 104
- Book Value per Share
- 320.26
- Face Value
- 5.00
Mar 2023
- Equity Capital
- 4
- 228
- 86
- Trade Payables
- 69
- 128
- Total Liabilities
- 515
- 226
- Capital Work in Progress
- 4
- 0
- 88
- 0
- Cash & Bank
- 23
- 174
- Total Assets
- 515
- Total Debt
- 132
- Net Working Capital
- 83
- Contingent Liabilities
- 103
- Book Value per Share
- 308.64
- Face Value
- 5.00
- Total Debt
- 132
- Net Working Capital
- 83
- Contingent Liabilities
- 103
- Book Value per Share
- 308.64
- Face Value
- 5.00
Mar 2024
- Equity Capital
- 4
- 232
- 74
- Trade Payables
- 73
- 217
- Total Liabilities
- 599
- 254
- Capital Work in Progress
- 2
- 0
- 97
- 133
- Cash & Bank
- 32
- 82
- Total Assets
- 599
- Total Debt
- 140
- Net Working Capital
- 95
- Contingent Liabilities
- 118
- Book Value per Share
- 314.91
- Face Value
- 5.00
- Total Debt
- 140
- Net Working Capital
- 95
- Contingent Liabilities
- 118
- Book Value per Share
- 314.91
- Face Value
- 5.00
Mar 2025
- Equity Capital
- 4
- 434
- 8
- Trade Payables
- 65
- 211
- Total Liabilities
- 721
- 223
- Capital Work in Progress
- 4
- 96
- 117
- 90
- Cash & Bank
- 48
- 142
- Total Assets
- 721
- Total Debt
- 53
- Net Working Capital
- 172
- Contingent Liabilities
- 99
- Book Value per Share
- 584.22
- Face Value
- 5.00
- Total Debt
- 53
- Net Working Capital
- 172
- Contingent Liabilities
- 99
- Book Value per Share
- 584.22
- Face Value
- 5.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 37 | 44 | 38 | -19 | 10 | 11 | 35 | 36 | 44 | -56 | |
| Cash from Investing | -21 | -20 | -13 | -5 | 0 | 5 | -35 | -28 | -38 | 80 |
| Cash from Financing | -11 | -30 | -18 | 29 | -9 | -10 | -20 | -9 | -9 | -19 |
| 5 | -6 | 7 | 4 | 1 | 5 | -20 | -1 | -4 | 6 | |
| Free Cash Flow | 37 | 10 | 38 | -37 | -5 | 4 | -10 | 13 | 22 | -56 |
| OCF / Net Profit | 2.83 | 2.08 | 1.22 | -0.72 | 0.93 | 0.33 | 2.61 | -4.50 | 2.98 | -0.46 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 | 10 | -10 | -35 | 24 | -27 |
| OCF / Net Profit | 2.83 | 2.08 | 1.22 | -0.72 | 0.93 | 0.33 | 2.61 | -4.50 | 2.98 | -0.46 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 | 10 | -10 | -35 | 24 | -27 |
Mar 2016
- 37
- Cash from Investing
- -21
- Cash from Financing
- -11
- 5
- Free Cash Flow
- 37
- OCF / Net Profit
- 2.83
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.83
- Cumulative 5-Year FCF
- 0
Mar 2017
- 44
- Cash from Investing
- -20
- Cash from Financing
- -30
- -6
- Free Cash Flow
- 10
- OCF / Net Profit
- 2.08
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.08
- Cumulative 5-Year FCF
- 0
Mar 2018
- 38
- Cash from Investing
- -13
- Cash from Financing
- -18
- 7
- Free Cash Flow
- 38
- OCF / Net Profit
- 1.22
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.22
- Cumulative 5-Year FCF
- 0
Mar 2019
- -19
- Cash from Investing
- -5
- Cash from Financing
- 29
- 4
- Free Cash Flow
- -37
- OCF / Net Profit
- -0.72
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.72
- Cumulative 5-Year FCF
- 0
Mar 2020
- 10
- Cash from Investing
- 0
- Cash from Financing
- -9
- 1
- Free Cash Flow
- -5
- OCF / Net Profit
- 0.93
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.93
- Cumulative 5-Year FCF
- 0
Mar 2021
- 11
- Cash from Investing
- 5
- Cash from Financing
- -10
- 5
- Free Cash Flow
- 4
- OCF / Net Profit
- 0.33
- Cumulative 5-Year FCF
- 10
- OCF / Net Profit
- 0.33
- Cumulative 5-Year FCF
- 10
Mar 2022
- 35
- Cash from Investing
- -35
- Cash from Financing
- -20
- -20
- Free Cash Flow
- -10
- OCF / Net Profit
- 2.61
- Cumulative 5-Year FCF
- -10
- OCF / Net Profit
- 2.61
- Cumulative 5-Year FCF
- -10
Mar 2023
- 36
- Cash from Investing
- -28
- Cash from Financing
- -9
- -1
- Free Cash Flow
- 13
- OCF / Net Profit
- -4.50
- Cumulative 5-Year FCF
- -35
- OCF / Net Profit
- -4.50
- Cumulative 5-Year FCF
- -35
Mar 2024
- 44
- Cash from Investing
- -38
- Cash from Financing
- -9
- -4
- Free Cash Flow
- 22
- OCF / Net Profit
- 2.98
- Cumulative 5-Year FCF
- 24
- OCF / Net Profit
- 2.98
- Cumulative 5-Year FCF
- 24
Mar 2025
- -56
- Cash from Investing
- 80
- Cash from Financing
- -19
- 6
- Free Cash Flow
- -56
- OCF / Net Profit
- -0.46
- Cumulative 5-Year FCF
- -27
- OCF / Net Profit
- -0.46
- Cumulative 5-Year FCF
- -27
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 37.79 | 51.14 | 59.58 | 49.13 | 3.75 | 81.01 | 10.59 | -7.59 | 12.83 | 165.02 |
| Book Value (₹) | 467.84 | 539.13 | 568.64 | 593.24 | 571.45 | 645.33 | 320.26 | 308.64 | 314.91 | 584.22 |
| Dividend per Share (₹) | 25.00 | 25.00 | 20.00 | 20.00 | 5.00 | 25.00 | 5.00 | 5.00 | 5.00 | 5.00 |
| Cash EPS (₹) | 27.67 | 38.72 | 53.80 | 49.63 | 30.20 | 60.13 | 35.44 | 11.91 | 43.04 | 180.25 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 10.46% | 11.05% | 14.29% | 13.10% | 15.04% | 14.13% | 7.87% | 3.51% | 6.35% | -4.76% |
| Net Margin % | 3.28% | 5.04% | 7.68% | 5.99% | 2.05% | 6.11% | 2.35% | -1.40% | 2.29% | 26.09% |
| ROE % | 7.52% | 11.19% | 14.92% | 12.20% | 4.78% | 14.25% | 5.56% | -3.39% | 6.26% | 36.17% |
| ROCE % | 14.79% | 15.93% | 18.44% | 15.61% | 10.49% | 17.85% | 8.69% | 0.87% | 8.98% | 35.63% |
| 4.25% | 6.60% | 8.14% | 5.83% | 2.14% | 6.44% | 2.62% | -1.56% | 2.63% | 18.47% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 72 | 72 | 95 | 108 | 91 | 92 | 79 | 70 | 74 | 87 |
| Inventory Days | 40 | 42 | 46 | 46 | 54 | 60 | 65 | 65 | 53 | 84 |
| Payable Days | 29 | 35 | 67 | 78 | 79 | 81 | 65 | 64 | 70 | 86 |
| 84 | 79 | 74 | 76 | 65 | 70 | 79 | 71 | 56 | 84 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.33x | 0.23x | 0.29x | 0.49x | 0.57x | 0.51x | 0.52x | 0.57x | 0.59x | 0.12x |
| Interest Coverage (x) | 5.39x | 6.81x | 9.77x | 3.92x | 2.11x | 4.91x | 2.94x | 0.28x | 2.41x | 48.60x |
| 1.97x | 1.74x | 1.37x | 1.51x | 1.58x | 1.86x | 1.73x | 1.42x | 1.41x | 1.92x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 0.00% | 4.35% | 4.36% | 12.46% | 14.65% | 4.65% | 7.22% | 0.32% | 11.99% | -27.03% |
| Operating Profit Growth % | 0.00% | 10.11% | 24.40% | 0.64% | 31.72% | -1.70% | -40.31% | -55.21% | 152.90% | 230.07% |
| Net Profit Growth % | 0.00% | 60.02% | 46.73% | -14.27% | -60.70% | 211.38% | -58.79% | -159.64% | 283.17% | 733.06% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 268.95% | 1186.63% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 42.98x | 2.53x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.75x | 0.71x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.91% | 1.20% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 10.25x | 1.89x |
Mar 2016
- EPS (₹)
- 37.79
- Book Value (₹)
- 467.84
- Dividend per Share (₹)
- 25.00
- Cash EPS (₹)
- 27.67
- Operating Margin %
- 10.46%
- Net Margin %
- 3.28%
- ROE %
- 7.52%
- ROCE %
- 14.79%
- 4.25%
- Debtor Days
- 72
- Inventory Days
- 40
- Payable Days
- 29
- 84
- Debt to Equity (x)
- 0.33x
- Interest Coverage (x)
- 5.39x
- 1.97x
- 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 2017
- EPS (₹)
- 51.14
- Book Value (₹)
- 539.13
- Dividend per Share (₹)
- 25.00
- Cash EPS (₹)
- 38.72
- Operating Margin %
- 11.05%
- Net Margin %
- 5.04%
- ROE %
- 11.19%
- ROCE %
- 15.93%
- 6.60%
- Debtor Days
- 72
- Inventory Days
- 42
- Payable Days
- 35
- 79
- Debt to Equity (x)
- 0.23x
- Interest Coverage (x)
- 6.81x
- 1.74x
- Revenue Growth %
- 4.35%
- Operating Profit Growth %
- 10.11%
- Net Profit Growth %
- 60.02%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 59.58
- Book Value (₹)
- 568.64
- Dividend per Share (₹)
- 20.00
- Cash EPS (₹)
- 53.80
- Operating Margin %
- 14.29%
- Net Margin %
- 7.68%
- ROE %
- 14.92%
- ROCE %
- 18.44%
- 8.14%
- Debtor Days
- 95
- Inventory Days
- 46
- Payable Days
- 67
- 74
- Debt to Equity (x)
- 0.29x
- Interest Coverage (x)
- 9.77x
- 1.37x
- Revenue Growth %
- 4.36%
- Operating Profit Growth %
- 24.40%
- Net Profit Growth %
- 46.73%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 49.13
- Book Value (₹)
- 593.24
- Dividend per Share (₹)
- 20.00
- Cash EPS (₹)
- 49.63
- Operating Margin %
- 13.10%
- Net Margin %
- 5.99%
- ROE %
- 12.20%
- ROCE %
- 15.61%
- 5.83%
- Debtor Days
- 108
- Inventory Days
- 46
- Payable Days
- 78
- 76
- Debt to Equity (x)
- 0.49x
- Interest Coverage (x)
- 3.92x
- 1.51x
- Revenue Growth %
- 12.46%
- Operating Profit Growth %
- 0.64%
- Net Profit Growth %
- -14.27%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 3.75
- Book Value (₹)
- 571.45
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 30.20
- Operating Margin %
- 15.04%
- Net Margin %
- 2.05%
- ROE %
- 4.78%
- ROCE %
- 10.49%
- 2.14%
- Debtor Days
- 91
- Inventory Days
- 54
- Payable Days
- 79
- 65
- Debt to Equity (x)
- 0.57x
- Interest Coverage (x)
- 2.11x
- 1.58x
- Revenue Growth %
- 14.65%
- Operating Profit Growth %
- 31.72%
- Net Profit Growth %
- -60.70%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 81.01
- Book Value (₹)
- 645.33
- Dividend per Share (₹)
- 25.00
- Cash EPS (₹)
- 60.13
- Operating Margin %
- 14.13%
- Net Margin %
- 6.11%
- ROE %
- 14.25%
- ROCE %
- 17.85%
- 6.44%
- Debtor Days
- 92
- Inventory Days
- 60
- Payable Days
- 81
- 70
- Debt to Equity (x)
- 0.51x
- Interest Coverage (x)
- 4.91x
- 1.86x
- Revenue Growth %
- 4.65%
- Operating Profit Growth %
- -1.70%
- Net Profit Growth %
- 211.38%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 10.59
- Book Value (₹)
- 320.26
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 35.44
- Operating Margin %
- 7.87%
- Net Margin %
- 2.35%
- ROE %
- 5.56%
- ROCE %
- 8.69%
- 2.62%
- Debtor Days
- 79
- Inventory Days
- 65
- Payable Days
- 65
- 79
- Debt to Equity (x)
- 0.52x
- Interest Coverage (x)
- 2.94x
- 1.73x
- Revenue Growth %
- 7.22%
- Operating Profit Growth %
- -40.31%
- Net Profit Growth %
- -58.79%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- -7.59
- Book Value (₹)
- 308.64
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 11.91
- Operating Margin %
- 3.51%
- Net Margin %
- -1.40%
- ROE %
- -3.39%
- ROCE %
- 0.87%
- -1.56%
- Debtor Days
- 70
- Inventory Days
- 65
- Payable Days
- 64
- 71
- Debt to Equity (x)
- 0.57x
- Interest Coverage (x)
- 0.28x
- 1.42x
- Revenue Growth %
- 0.32%
- Operating Profit Growth %
- -55.21%
- Net Profit Growth %
- -159.64%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 12.83
- Book Value (₹)
- 314.91
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 43.04
- Operating Margin %
- 6.35%
- Net Margin %
- 2.29%
- ROE %
- 6.26%
- ROCE %
- 8.98%
- 2.63%
- Debtor Days
- 74
- Inventory Days
- 53
- Payable Days
- 70
- 56
- Debt to Equity (x)
- 0.59x
- Interest Coverage (x)
- 2.41x
- 1.41x
- Revenue Growth %
- 11.99%
- Operating Profit Growth %
- 152.90%
- Net Profit Growth %
- 283.17%
- 268.95%
- P/E (x)
- 42.98x
- P/B (x)
- 1.75x
- Dividend Yield %
- 0.91%
- 10.25x
Mar 2025
- EPS (₹)
- 165.02
- Book Value (₹)
- 584.22
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 180.25
- Operating Margin %
- -4.76%
- Net Margin %
- 26.09%
- ROE %
- 36.17%
- ROCE %
- 35.63%
- 18.47%
- Debtor Days
- 87
- Inventory Days
- 84
- Payable Days
- 86
- 84
- Debt to Equity (x)
- 0.12x
- Interest Coverage (x)
- 48.60x
- 1.92x
- Revenue Growth %
- -27.03%
- Operating Profit Growth %
- 230.07%
- Net Profit Growth %
- 733.06%
- 1186.63%
- P/E (x)
- 2.53x
- P/B (x)
- 0.71x
- Dividend Yield %
- 1.20%
- 1.89x
Documents
Announcements
- Copy of Newspaper Publication
2026-08-15 - Indo-National Limited has informed the Exchange about Copy of Newspaper Publication
- Updates
2026-08-14 - Indo-National Limited has informed the Exchange regarding 'Intimation on 53rd AGM'.
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Sep 2021