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Indian Toners & Dev Overview

Indian Toners & Developers Ltd. is a leading company in the field of printing and imaging solutions. Established in 1991, the company has grown to become a trusted name in the industry. With a strong focus on research and development, Indian Toners & Developers Ltd. offers a wide range of high-quality toners, inks, and other consumables for laser printers, copiers, and multifunction devices. The company operates with a commitment to environmental sustainability, ensuring its products are eco-friendly and comply with global standards. Indian To...Read More

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Indian Toners & Dev Key Financials

Market Cap ₹243 Cr.

Stock P/E 10.8

P/B 1.1

Current Price ₹234

Book Value ₹ 213.1

Face Value 10

52W High ₹282

Dividend Yield 1.92%

52W Low ₹ 215.4

Indian Toners & Dev Share Price

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Volume
Price

Indian Toners & Dev Quarterly Price

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Indian Toners & Dev Peer Comparison

Indian Toners & Dev Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 40 37 43 35 38 39 41 39 39 42
Other Income 1 1 2 1 2 1 2 2 1 2
Total Income 41 38 45 37 40 41 42 41 40 44
Total Expenditure 31 29 34 28 30 31 32 30 32 33
Operating Profit 10 9 11 9 10 10 10 10 9 10
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 2 1 1 1 1 1 1
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -0
Profit Before Tax 8 8 9 8 8 9 9 9 7 9
Provision for Tax 3 2 1 4 3 2 2 1 2 2
Profit After Tax 5 6 9 4 6 6 7 8 5 6
Adjustments -0 -0 -0 0 -0 0 -0 0 0 0
Profit After Adjustments 5 6 9 4 6 6 7 8 5 6
Adjusted Earnings Per Share 4.6 5.2 7.9 3.5 5.3 6.2 6.4 7.5 5.2 6.1

Indian Toners & Dev Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 34 35 115 112 115 91 88 119 155 157 153 161
Other Income 1 3 7 7 6 7 8 4 4 6 6 7
Total Income 35 38 122 119 122 98 96 123 159 163 159 167
Total Expenditure 29 29 87 85 92 78 73 95 120 123 120 127
Operating Profit 6 9 35 35 30 20 23 28 39 40 39 39
Interest 0 0 1 1 1 1 0 0 1 0 0 0
Depreciation 1 1 3 4 4 4 4 4 4 5 5 4
Exceptional Income / Expenses 2 0 0 0 -0 0 0 0 0 0 0 0
Profit Before Tax 6 7 30 30 25 15 19 23 34 34 34 34
Provision for Tax 2 1 7 6 5 2 5 5 8 8 11 7
Profit After Tax 5 6 24 24 20 12 14 19 26 26 22 26
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 5 6 24 24 20 12 14 19 26 26 22 26
Adjusted Earnings Per Share 5.8 7.3 29.3 18.4 15.5 9.3 12.5 17.5 24.3 24.1 21.6 25.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -3% 9% 11% 16%
Operating Profit CAGR -3% 12% 14% 21%
PAT CAGR -15% 5% 13% 16%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -7% -1% 12% 3%
ROE Average 11% 13% 12% 13%
ROCE Average 16% 18% 16% 17%

Indian Toners & Dev Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 53 59 144 164 180 184 161 166 188 210 202
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 2 2 3 3 2 3 5 8 9 10 12
Total Current Liabilities 6 7 21 26 25 20 20 23 20 18 24
Total Liabilities 62 68 169 194 207 207 186 196 217 238 238
Fixed Assets 11 11 45 52 52 54 50 49 69 77 80
Other Non-Current Assets 32 26 71 69 85 96 80 20 18 11 13
Total Current Assets 18 32 53 72 71 57 56 128 130 150 145
Total Assets 62 68 169 194 207 207 186 196 217 238 238

Indian Toners & Dev Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 4 4 5 5 5 11 8 17 20 13 20
Cash Flow from Operating Activities 3 6 18 19 14 13 19 14 21 24 26
Cash Flow from Investing Activities -3 -6 -16 -16 -2 -9 28 4 -23 -12 16
Cash Flow from Financing Activities -0 -0 -2 -4 -5 -8 -38 -15 -5 -6 -31
Net Cash Inflow / Outflow 0 -0 0 -1 6 -3 9 3 -6 7 11
Closing Cash & Cash Equivalent 4 4 5 5 11 8 17 20 13 20 32

Indian Toners & Dev Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 5.79 7.31 29.31 18.4 15.51 9.27 12.49 17.46 24.25 24.09 21.6
CEPS(Rs) 7.48 8.92 33.3 21.2 18.38 12.55 16.41 21.27 27.87 29.08 26.81
DPS(Rs) 0 0 0 3 3 3 3 3 3.5 4.5 4.5
Book NAV/Share(Rs) 66.35 73.66 166.29 120.9 132.63 140.12 148.31 152.71 173.51 193.15 194.2
Core EBITDA Margin(%) 15.34 17.39 23.24 23.84 20.09 13.61 17.15 19.32 21.81 20.73 20.99
EBIT Margin(%) 18.78 21.45 26.17 26.92 22.11 16.54 21.17 19.53 21.76 21.23 21.43
Pre Tax Margin(%) 17.92 20.64 25.24 25.97 21.13 15.61 20.75 19.2 21.41 20.94 21.17
PAT Margin (%) 13.51 16.8 19.71 21.07 17.14 12.97 14.93 15.5 16.52 16.07 14.18
Cash Profit Margin (%) 17.44 20.49 22.39 24.26 20.3 17.57 19.62 18.88 18.99 19.4 17.6
ROA(%) 7.72 9.06 19.94 13.36 10.19 5.89 6.9 9.91 12.73 11.48 9.42
ROE(%) 9.09 10.44 24.43 16.53 12.24 6.79 7.85 11.6 14.87 13.14 10.91
ROCE(%) 12.63 13.33 31.61 20.76 15.79 8.67 11.12 14.62 19.58 17.36 16.49
Receivable days 63.07 46.41 26.88 50.84 54.73 62.82 59.87 48.76 44.26 53.57 57.06
Inventory Days 52.06 61.73 27.5 39.33 48.23 67.72 57.31 44.22 41.81 39.34 45.85
Payable days 87.18 88.89 56.63 109.75 116.2 125.81 108.57 84.12 49.21 30.32 39.95
PER(x) 15.7 21.55 5.54 12.99 9.13 5.8 11.21 9.1 8.25 10.84 11.07
Price/Book(x) 1.37 2.14 0.98 1.98 1.07 0.38 0.94 1.04 1.15 1.35 1.23
Dividend Yield(%) 0 0 0 1.25 2.12 5.59 2.14 1.89 1.75 1.72 1.88
EV/Net Sales(x) 2 3.49 1.09 2.74 1.49 0.65 1.47 1.24 1.29 1.66 1.41
EV/Core EBITDA(x) 11.75 13.86 3.63 8.86 5.65 2.98 5.54 5.26 5.2 6.51 5.47
Net Sales Growth(%) 0.89 2.28 227.8 -2.52 3.15 -21.22 -2.97 34.8 30.4 1.02 -2.4
EBIT Growth(%) -11.85 15.9 316.92 -1.3 -14.91 -40.96 23.46 24.32 45.14 -0.33 -1.81
PAT Growth(%) -13.74 26.23 300.89 2.55 -15.72 -40.27 11.11 39.8 38.92 -0.66 -14.14
EPS Growth(%) -13.74 26.23 300.89 -37.21 -15.72 -40.27 34.79 39.8 38.92 -0.66 -10.36
Debt/Equity(x) 0 0 0 0 0 0 0 0 0 0 0
Current Ratio(x) 2.84 4.7 2.49 2.8 2.8 2.85 2.79 5.53 6.63 8.13 6.02
Quick Ratio(x) 2.05 3.7 1.95 2.28 2.08 2 2.21 4.76 5.68 7.23 5.06
Interest Cover(x) 21.91 26.5 28.35 28.19 22.41 17.69 51.51 59.1 62.7 71.8 84.5
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Indian Toners & Dev Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 69.25 69.25 69.25 69.25 69.25 69.25 69.25 69.25 69.25 69.25
FII 0 0 0 0 0 0 0 0 0 0
DII 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03
Public 30.72 30.72 30.72 30.72 30.72 30.72 30.72 30.72 30.72 30.72
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Indian Toners & Dev News

Indian Toners & Dev Pros & Cons

Pros

  • Company is almost debt free.

Cons

  • Company has a low return on equity of 13% over the last 3 years.
  • Debtor days have increased from 30.32 to 39.95days.
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