Indo-National Limited (NIPPOBATRY)

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Indo-National Limited (NIPPOBATRY) · mywealthgrid

About

Indo-National Limited manufactures household products within Consumer Staples. The company operates at a quarterly revenue scale of ₹106–120 Cr with a ₹248 Cr market capitalisation, serving a core category in household essentials.

Face value: ₹5

Market cap

₹236 Cr

P/E

—

P/B

0.8×

Dividend yield

1.2%

ROE

-7.1%

ROCE

-5.4%

Debt / equity

0.11

OPM

-4%

EPS (TTM)

₹-33.6

Book value

₹403.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Persistent unprofitability: ROE of -7.11% and aggregate OPM of -4.02% indicate the company is loss-making; Mar 2026 showed -₹21 Cr net profit and -16.91% OPM

Severe quarterly volatility: net profit ranged from +₹2.68 Cr (Sep 2025) to -₹21 Cr (Mar 2026) within a single fiscal year, raising questions about operational sustainability

Shareholder loss: stock price declined 29.09% over 12 months and now trades ₹331 against 52-week high of ₹494, destroying shareholder value

Absence of institutional investors (FII 0%, DII 0%) suggests weak professional confidence in the turnaround thesis

Generated analysis · source review pending

Growth drivers

Profitability returned in recent quarters: Sep 2025 recorded 4.64% OPM and ₹2.68 Cr net profit; Jun 2026 showed ₹2.29 Cr profit; verify whether operational fixes are sustainable or cyclical

Stable revenue base: quarterly revenue held in ₹106–120 Cr range across eight quarters, indicating maintained market presence despite margin stress

Household products demand: essential-category positioning in consumer staples provides baseline demand; verify market-share trends and whether category-level recovery is occurring

Continued dividend payouts (2022–2025) signal management confidence in cash generation; verify sustainability given recent losses and cash runway

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹322.8+0%1Y

Quick read

rule-based

Pros

+High promoter holding of 65.4% with no pledge

Cons

−Revenue shrank over the last 5 years (-3.2% a year)
−Weak interest coverage of -9.1×

Research score

Structured signal from quality, growth, valuation and momentum.

52/100

Business quality: 19
Growth: 36
Valuation: 100

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jyothy Labs LimitedJYOTHYLABJYOTHYLAB	₹6,716 Cr	₹6,716 Cr	₹2,847 Cr	₹500 Cr	17.6%	₹370 Cr	13%	24.3%	19.1%	45
Eveready Industries India LimitedEVEREADYEVEREADY	₹2,296 Cr	₹2,476 Cr	₹1,489 Cr	₹171 Cr	11.3%	₹178 Cr	11.8%	19.2%	31.6%	69
High Energy Batteries India LtdHIGHENEHIGHENE	₹515 Cr	₹526 Cr	₹78 Cr	₹30 Cr	22.8%	₹18 Cr	18.4%	21.8%	14.6%	685
Indo-National LimitedNIPPOBATRYNIPPOBATRY	₹236 Cr	₹270 Cr	₹449 Cr	₹-21 Cr	-4%	₹-25 Cr	-5.9%	-5.4%	-7.1%	78
Panasonic Energy India Company LtdPANAENERGPANAENERG	₹180 Cr	₹180 Cr	₹268 Cr	₹18 Cr	3.9%	₹12 Cr	1.3%	8.4%	3.3%	65
Pee Cee Cosma Sope LtdPCCOSMAPCCOSMA	₹123 Cr	₹123 Cr	₹82 Cr	₹7 Cr	8%	₹5 Cr	5.3%	21.3%	15.9%	41
Yuvraaj Hygiene Products LtdYUVRAAJHPLYUVRAAJHPL	₹82 Cr	₹93 Cr	₹15 Cr	₹-0 Cr	14.6%	₹-0 Cr	8.5%	30.1%	115.7%	133
Ambica Agarbathies & Aroma Industries LimitedAMBICAAGARAMBICAAGAR	₹41 Cr	₹130 Cr	₹136 Cr	₹10 Cr	7.2%	₹3 Cr	2.5%	8.1%	3.1%	63
Hipolin LtdHIPOLINHIPOLIN	₹26 Cr	₹27 Cr	₹11 Cr	₹-1 Cr	-1.8%	₹-1 Cr	-5.4%	-1.8%	-9.9%	43
Photoquip India LtdPHOTOQUPPHOTOQUP	₹7 Cr	₹20 Cr	₹11 Cr	₹-3 Cr	-0.8%	₹-2 Cr	-5.8%	1.9%	-11%	125

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	419	403	330	532	570	572	641	467	452
COGS	157	176	209	297	342	363	370	291	277
Gross profit	262	227	121	235	229	209	270	176	175
	231	185	98	178	203	194	230	198	193
	31	42	23	57	26	15	41	-22	-18
OPM %	7.3%	10.5%	7%	10.8%	4.5%	2.6%	6.4%	-4.8%	-4%
Depreciation	8	9	6	13	13	17	18	13	13
Interest	5	5	6	13	11	11	14	3	3
	15	15	-11	18	19	5	10	190	8
Profit before tax	33	43	1	50	20	-8	19	151	-26
Tax	12	12	1	17	8	-0	5	29	0
Tax %	35.6%	28.6%	51.5%	34.7%	36.9%	-0.3%	24.6%	19.4%	1.6%
	21	31	0	33	13	-8	15	122	-27
PAT margin %	5%	7.7%	0.2%	6.1%	2.3%	-1.4%	2.3%	26.1%	-5.9%
EPS (₹)	51.1	59.6	1.3	81	10.6	-7.6	12.8	165	-35.1
EPS adjusted (₹)	25.6	29.8	0.7	40.5	10.6	-7.6	12.8	165	-35.1
	48.9%	33.6%	384.6%	30.9%	47.2%	—	39%	3%	—
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	4	4	4	4	4	4	4	4	4	4	4
Reserves	172	188	209	219	211	238	236	228	232	434	299
Minority interest	—	—	14	22	—	31	35	30	37	33	5
	58	58	11	40	34	123	124	132	140	53	34
	77	63	193	197	247	117	112	121	186	197	89
Total equity & liabilities	311	313	431	481	496	513	511	515	599	721	431
	96	96	113	132	139	130	164	226	254	223	170
CWIP	1	1	14	5	1	1	2	4	2	4	6
Investments	0	0	0	0	0	0	0	0	0	96	61
	214	216	303	344	356	382	345	284	343	398	193
Total assets	311	313	431	481	496	513	511	515	599	721	431

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
consumer goods	451.01	-7.39	258.23	258.23
airpurifier	1.46	-0.76	2.57	2.57
composites and aerospaces	0

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	56.4%	36.6%	44.2%	40.1%	36.5%	42.2%	37.7%	38.7%
EBITDA margin %	10.5%	7%	10.8%	4.6%	2.6%	6.4%	-4.8%	-4%
EBIT margin %	8.2%	5.3%	8.4%	2.3%	-0.4%	3.6%	-7.6%	-6.9%
PAT margin %	7.7%	0.2%	6.1%	2.3%	-1.4%	2.3%	26.1%	-5.9%
Working capital
Receivable days	113	128	103	61	80	76	70	47
Inventory days	—	—	—	—	88	95	147	80
Payable days	—	—	—	—	69	72	81	49
NWC days	—	—	—	—	99	99	136	78
Leverage
Current ratio	—	—	1.86	1.73	1.42	1.41	1.92	2.02
Debt to EBITDA	0.26	1.5	2.15	4.74	9	3.44	—	—
Debt to equity	0.05	0.16	0.51	0.52	0.57	0.59	0.12	0.11
Interest coverage	9.8	6.5	4.8	2.9	0.3	2.4	48.6	-9.1
Asset turnover	0.94	0.66	1.04	1.11	1.11	1.07	0.65	1.05
Return ratios
Return on assets %	7.2%	0.1%	6.3%	2.5%	-1.6%	2.4%	16.9%	-6.2%
Return on capital employed %	—	—	18.7%	9.3%	1%	9.7%	34.4%	-5.4%
Return on equity %	14.5%	0.2%	13.4%	5.3%	-3.5%	6.2%	27.8%	-8.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%
FII	0%	0%	0.04%	0%	0.05%	0%	0%	0.01%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0.02%	0%	0%
	34.65%	34.65%	34.61%	34.65%	34.6%	34.65%	34.65%	34.64%	34.65%	34.63%	34.65%	34.65%
No. of shareholders	—	—	—	—	—	—	—	—	13,993	13,855	13,958	14,297

Promoter holding up 0 percentage points since Sep 2023.

9 deals · 3 Aug 2021 – 11 Dec 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
11 Dec 2024	SHAH SHARAD KANAYALAL	Bulk	NSE	Buy	40,000	₹591.30	₹2.37 Cr
2 May 2024	MANSI SHARE AND STOCK ADVISORS PVT LTD	Bulk	NSE	Sell	58,091	₹660.13	₹3.83 Cr
2 May 2024	MANSI SHARE AND STOCK ADVISORS PVT LTD	Bulk	NSE	Buy	37,596	₹656.24	₹2.47 Cr
17 Dec 2021	GLOBE CAPITAL MARKET LTD.	Bulk	NSE	Buy	68,067	₹511.08	₹3.48 Cr
17 Dec 2021	GLOBE CAPITAL MARKET LTD.	Bulk	NSE	Sell	2,523	₹516.00	₹0.13 Cr
12 Oct 2021	SMP SECURITIES LTD	Bulk	NSE	Sell	21,898	₹1,038.21	₹2.27 Cr
12 Oct 2021	SMP SECURITIES LTD	Bulk	NSE	Buy	21,898	₹1,033.55	₹2.26 Cr
3 Aug 2021	PARTH INFIN BROKERS PVT LTD	Bulk	NSE	Sell	23,624	₹1,166.73	₹2.76 Cr
3 Aug 2021	PARTH INFIN BROKERS PVT LTD	Bulk	NSE	Buy	23,624	₹1,165.56	₹2.75 Cr

1–9 of 9

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mrs. DEEPA SESHADRINon-Executive - Independent Director-Chairperson
Mr. P.DWARAKNATH REDDYExecutive Director
Mr. P. ADITYA REDDYExecutive Director
Mr. KIRAN JOSEPHNon-Executive - Independent Director
Mr. MURALI SUBRAMANIAMNon-Executive - Independent Director
Ms. SUNEETA REDDYNon-Executive - Non Independent Director
Mr. BITRA LAKSHMI NARAYANA PRASADNon-Executive - Non Independent Director
Mr. BVS Pavan KumarChief Executive Officer
Mr. S R Aravind KumarChief Financial Officer
J SrinivasanCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Indo-National Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

20 announcementsExport CSV

2 Sept 2026, 4:09 pmCompany Update

Announcement under Regulation 30 (LODR)-Updates on Acquisition

Acquisition PDF

1 Sept 2026, 12:23 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

15 Aug 2026, 8:26 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

14 Aug 2026, 3:29 pmAGM/EGM

Intimation Of 53Rd AGM Of The Company

AGM PDF

14 Aug 2026, 3:27 pmCorp. Action

Book Closure

Book Closure PDF

14 Aug 2026, 3:24 pmResult

Results For The Quarter Ended 30Th June 2026

Financial Results PDF

14 Aug 2026, 3:20 pmBoard Meeting

Board Meeting Outcome for OUTCOME OF THE BOARD MEETING -Results For The Quarter Ended 30Th June 2026.

Outcome of Board Meeting PDF

7 Aug 2026, 6:21 pmBoard Meeting

Board Meeting Intimation for Considering And Approving The Unaudited Financial Results For The Quarter Ended June 30, 2026

Exchange filing PDF

Date	Category	Subject	Filing
2 Sept 2026, 4:09 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Updates on Acquisition	PDF
1 Sept 2026, 12:23 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management

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Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	56.4%	36.6%	44.2%	40.1%	36.5%	42.2%	37.7%	38.7%
EBITDA margin %	10.5%	7%	10.8%	4.6%	2.6%	6.4%	-4.8%	-4%
EBIT margin %	8.2%	5.3%	8.4%	2.3%	-0.4%	3.6%	-7.6%	-6.9%
PAT margin %	7.7%	0.2%	6.1%	2.3%	-1.4%	2.3%	26.1%	-5.9%
Working capital
Receivable days	113	128	103	61	80	76	70	47
Inventory days	—	—	—	—	88	95	147	80
Payable days	—	—	—	—	69	72	81	49
NWC days	—	—	—	—	99	99	136	78
Leverage
Current ratio	—	—	1.86	1.73	1.42	1.41	1.92	2.02
Debt to EBITDA	0.26	1.5	2.15	4.74	9	3.44	—	—
Debt to equity	0.05	0.16	0.51	0.52	0.57	0.59	0.12	0.11
Interest coverage	9.8	6.5	4.8	2.9	0.3	2.4	48.6	-9.1
Asset turnover	0.94	0.66	1.04	1.11	1.11	1.07	0.65	1.05
Return ratios
Return on assets %	7.2%	0.1%	6.3%	2.5%	-1.6%	2.4%	16.9%	-6.2%
Return on capital employed %	—	—	18.7%	9.3%	1%	9.7%	34.4%	-5.4%
Return on equity %	14.5%	0.2%	13.4%	5.3%	-3.5%	6.2%	27.8%	-8.8%

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	37	44	38	-19	10	10	35	36	44	-56	40
	-21	-20	-13	-5	0	8	-35	-28	-38	80	17
	-11	-30	-18	29	-9	-13	-20	-9	-9	-19	-58
Net cash flow	5	-6	7	4	1	6	-20	-1	-4	6	-1
Free cash flow	-5	10	11	-40	-4	4	-17	5	-1	-97	12
CFO / Operating profit %	—	143.6%	89.1%	—	42.2%	17.3%	134.3%	245.6%	107%	—	—

Indo-National Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

19

1

1

Segment results

Compounded sales growth

Return on equity

COMPOSITES & AERO SPACE · revenue

Indo-National Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Dividends19

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Return on equity

COMPOSITES & AERO SPACE · revenue

19

1

1