Market Cap ₹425 Cr.
Stock P/E 92.1
P/B 1.8
Current Price ₹566.4
Book Value ₹ 315.2
Face Value 5
52W High ₹856
Dividend Yield 0.88%
52W Low ₹ 320.2
Indo National Ltd, collectively with its subsidiaries, manufactures and distributes dry cellular batteries and lighting products in India. It offers AA, AAA, C&D, alkaline, and 9V batteries; torches; and emergency power backup products, as well as mosquito bats. The corporation additionally affords square LED downlights, rechargeable bulb, pulsar linear, head lamp, LED tubelights, LED bulbs, LED flood lights, and grid-based LED avenue lighting. In addition, it offers razors and blades underneath DORCO emblem, electric add-ons, and other FMCG products. The enterprise turned into formerly known as Nippo Batteries Co. Ltd. and changed its name to Indo National Ltd in April 2013. Indo National Ltd become incorporated in 1972 and is founded in Chennai, India.
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| #(Fig in Cr.) | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 172 | 172 | 121 | 131 | 149 | 149 | 143 | 132 | 172 | 168 |
| Other Income | 4 | 9 | 3 | 1 | 1 | 1 | 2 | 2 | 3 | 3 |
| Total Income | 176 | 180 | 124 | 132 | 150 | 150 | 146 | 134 | 174 | 171 |
| Total Expenditure | 154 | 164 | 127 | 132 | 145 | 143 | 139 | 130 | 164 | 155 |
| Operating Profit | 22 | 16 | -3 | 0 | 6 | 7 | 7 | 4 | 10 | 16 |
| Interest | 3 | 3 | 2 | 2 | 3 | 3 | 3 | 3 | 4 | 3 |
| Depreciation | 3 | 3 | 3 | 4 | 4 | 5 | 5 | 4 | 4 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 16 | 10 | -8 | -6 | -0 | -1 | -1 | -3 | 2 | 8 |
| Provision for Tax | 5 | 3 | -1 | -1 | 0 | 0 | 1 | 0 | -1 | 2 |
| Profit After Tax | 12 | 7 | -7 | -4 | -1 | -1 | -2 | -3 | 3 | 6 |
| Adjustments | -3 | -4 | 0 | 2 | 1 | 0 | -1 | 3 | 1 | -2 |
| Profit After Adjustments | 9 | 3 | -7 | -2 | 0 | -1 | -3 | -1 | 4 | 3 |
| Adjusted Earnings Per Share | 11.8 | 3.8 | -9 | -2.7 | 0.1 | -1.5 | -3.5 | -0.7 | 5.7 | 4.6 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 362 | 378 | 394 | 443 | 508 | 532 | 570 | 572 | 615 |
| Other Income | 18 | 16 | 15 | 17 | 16 | 18 | 19 | 5 | 10 |
| Total Income | 380 | 393 | 409 | 460 | 524 | 550 | 589 | 577 | 625 |
| Total Expenditure | 338 | 347 | 352 | 402 | 447 | 475 | 544 | 557 | 588 |
| Operating Profit | 42 | 46 | 58 | 58 | 76 | 75 | 45 | 20 | 37 |
| Interest | 6 | 6 | 5 | 12 | 17 | 13 | 11 | 11 | 13 |
| Depreciation | 8 | 8 | 9 | 11 | 12 | 13 | 13 | 17 | 17 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | -29 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 28 | 33 | 43 | 35 | 18 | 50 | 21 | -8 | 6 |
| Provision for Tax | 15 | 12 | 12 | 9 | 8 | 17 | 8 | -0 | 2 |
| Profit After Tax | 13 | 21 | 31 | 27 | 10 | 33 | 13 | -8 | 4 |
| Adjustments | 1 | -2 | -9 | -8 | -9 | -2 | -5 | 2 | 1 |
| Profit After Adjustments | 14 | 19 | 22 | 18 | 1 | 30 | 8 | -6 | 3 |
| Adjusted Earnings Per Share | 18.9 | 25.6 | 29.8 | 24.6 | 1.9 | 40.5 | 10.6 | -7.6 | 6.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 4% | 8% | 0% |
| Operating Profit CAGR | -56% | -36% | -19% | 0% |
| PAT CAGR | -162% | NAN% | NAN% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 77% | 12% | 15% | 11% |
| ROE Average | -3% | 5% | 7% | 8% |
| ROCE Average | 1% | 9% | 11% | 13% |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 175 | 202 | 213 | 222 | 214 | 242 | 240 | 231 |
| Minority's Interest | -3 | 5 | 14 | 22 | 31 | 31 | 35 | 30 |
| Borrowings | 31 | 11 | 11 | 40 | 34 | 36 | 37 | 29 |
| Other Non-Current Liabilities | 19 | 19 | 20 | 18 | 24 | 28 | 31 | 28 |
| Total Current Liabilities | 88 | 92 | 173 | 178 | 193 | 176 | 167 | 196 |
| Total Liabilities | 311 | 329 | 431 | 481 | 496 | 513 | 511 | 515 |
| Fixed Assets | 134 | 158 | 163 | 182 | 188 | 182 | 215 | 226 |
| Other Non-Current Assets | 3 | 11 | 31 | 30 | 3 | 4 | 7 | 10 |
| Total Current Assets | 174 | 160 | 238 | 269 | 305 | 327 | 289 | 279 |
| Total Assets | 311 | 329 | 431 | 481 | 496 | 513 | 511 | 515 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 30 | 15 | 9 | 17 | 19 | 21 | 26 | 6 |
| Cash Flow from Operating Activities | 37 | 44 | 38 | -19 | 10 | 11 | 35 | 36 |
| Cash Flow from Investing Activities | -21 | -20 | -13 | -5 | 0 | 5 | -35 | -28 |
| Cash Flow from Financing Activities | -11 | -30 | -18 | 29 | -9 | -10 | -20 | -9 |
| Net Cash Inflow / Outflow | 5 | -6 | 7 | 4 | 1 | 5 | -20 | -1 |
| Closing Cash & Cash Equivalent | 36 | 9 | 17 | 19 | 21 | 26 | 6 | 5 |
| # | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 18.89 | 25.57 | 29.79 | 24.56 | 1.87 | 40.5 | 10.59 | -7.59 |
| CEPS(Rs) | 27.67 | 38.72 | 53.8 | 49.63 | 30.2 | 60.13 | 35.44 | 11.91 |
| DPS(Rs) | 12.5 | 12.5 | 10 | 10 | 2.5 | 12.5 | 5 | 5 |
| Book NAV/Share(Rs) | 233.92 | 269.56 | 284.32 | 296.62 | 285.72 | 322.66 | 320.26 | 308.64 |
| Core EBITDA Margin(%) | 5.99 | 7.31 | 10.5 | 9.28 | 11.94 | 10.67 | 4.58 | 2.56 |
| EBIT Margin(%) | 8.58 | 9.16 | 11.98 | 10.69 | 6.89 | 11.77 | 5.56 | 0.55 |
| Pre Tax Margin(%) | 6.99 | 7.82 | 10.75 | 7.96 | 3.63 | 9.37 | 3.67 | -1.4 |
| PAT Margin (%) | 3.28 | 5.04 | 7.68 | 5.99 | 2.05 | 6.11 | 2.35 | -1.4 |
| Cash Profit Margin (%) | 5.15 | 6.92 | 10 | 8.4 | 4.46 | 8.48 | 4.66 | 1.56 |
| ROA(%) | 4.25 | 6.6 | 8.16 | 5.83 | 2.14 | 6.44 | 2.62 | -1.56 |
| ROE(%) | 7.52 | 11.19 | 14.92 | 12.2 | 4.78 | 14.25 | 5.56 | -3.39 |
| ROCE(%) | 14.79 | 15.93 | 18.44 | 15.61 | 10.49 | 17.85 | 8.69 | 0.87 |
| Receivable days | 72.36 | 71.73 | 95.08 | 107.84 | 90.74 | 91.52 | 78.58 | 70.27 |
| Inventory Days | 40.4 | 41.83 | 45.61 | 45.85 | 53.75 | 59.98 | 65.19 | 65.08 |
| Payable days | 28.69 | 34.68 | 66.61 | 78.01 | 79.4 | 81.27 | 65.15 | 64.36 |
| PER(x) | 22.91 | 17.91 | 14 | 14.45 | 116.61 | 8.79 | 36.86 | 0 |
| Price/Book(x) | 1.85 | 1.7 | 1.47 | 1.2 | 0.76 | 1.1 | 1.22 | 0.96 |
| Dividend Yield(%) | 2.89 | 2.73 | 2.4 | 2.82 | 1.14 | 3.51 | 1.28 | 1.69 |
| EV/Net Sales(x) | 0.96 | 1 | 0.82 | 0.73 | 0.45 | 0.65 | 0.68 | 0.58 |
| EV/Core EBITDA(x) | 8.24 | 8.13 | 5.61 | 5.6 | 3.01 | 4.6 | 8.58 | 16.42 |
| Net Sales Growth(%) | 0 | 4.35 | 4.36 | 12.46 | 14.65 | 4.65 | 7.22 | 0.32 |
| EBIT Growth(%) | 0 | 11.25 | 25.69 | -1.92 | -26.1 | 78.67 | -49.37 | -90.01 |
| PAT Growth(%) | 0 | 60.02 | 46.73 | -14.27 | -60.7 | 211.38 | -58.79 | -159.64 |
| EPS Growth(%) | 0 | 35.35 | 16.49 | -17.54 | -92.37 | 2061.11 | -73.85 | -171.66 |
| Debt/Equity(x) | 0.33 | 0.23 | 0.29 | 0.49 | 0.57 | 0.51 | 0.52 | 0.57 |
| Current Ratio(x) | 1.97 | 1.74 | 1.37 | 1.51 | 1.58 | 1.86 | 1.73 | 1.42 |
| Quick Ratio(x) | 1.47 | 1.18 | 1.09 | 1.16 | 1.12 | 1.36 | 1.04 | 0.97 |
| Interest Cover(x) | 5.39 | 6.81 | 9.77 | 3.92 | 2.11 | 4.91 | 2.94 | 0.28 |
| Total Debt/Mcap(x) | 0.18 | 0.14 | 0.2 | 0.41 | 0.74 | 0.46 | 0.42 | 0.59 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 65.35 | 65.35 | 65.35 | 65.35 | 65.35 | 65.35 | 65.35 | 65.35 | 65.35 | 65.35 |
| FII | 0 | 0.13 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.03 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 34.64 | 34.52 | 34.65 | 34.65 | 34.65 | 34.65 | 34.64 | 34.65 | 34.65 | 34.61 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 |
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