MarketFriction

Indo Rama Synthetics (India) Ltd

NSE INDORAMA · BSE 500207 · Other Textile Products
₹95.81 -4.53%
NSE close2026-10-01
52 week range29.00 - 112.30
Market cap₹2,701 Cr.
P/E16.5
ASM long-term Price band 10% Delivery 40.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,2599409049449511,1661,1981,3061,2211,1821,202937
Expenses1,2289978959159481,1021,1161,2151,1521,1321,099835
Operating Profit31-56102936382916850102102
OPM %2.5%-6%1.1%3.1%0.3%5%7%7%6%4.3%9%11%
Other Income1411322332654
Interest313741383840422934363229
Depreciation101011121213121212121212
Profit before tax-9-99-40-19-441451532596464
Tax %0%0%0%0%0%0%0%0%0%0%0%0%
Net Profit-9-99-40-19-441451532596464
EPS in Rs-0.34-3.79-1.55-0.73-1.690.521.962.020.940.342.462.44
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,6562,7582,5252,4592,1062,0434,0384,0853,8734,2594,9104,541
Expenses2,6292,6352,4642,4792,1281,9503,7344,0413,9104,0804,5984,218
Operating Profit2712261-20-229330444-37179312323
OPM %1.0%4.4%2.4%-0.8%-1.1%4.6%8%1.1%-0.9%4.2%6%7%
Other Income1365-245520109224281617
Interest5043549192666260132157130131
Depreciation14311778798634313139484848
Profit before tax-31-33-94-135-1803219-25-2031150161
Tax %-56%-38%-140%-40%75%-3,245%-23%-1%0%0%0%
Net Profit-14-2138-81-317113269-25-2031150161
EPS in Rs-0.89-1.362.48-5.36-12.124.3410.30-0.94-7.790.055.756.18
Dividend Payout %-112%-73%40%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth7%19%6%-2%
Compounded Profit Growth8%4%107%124%
Stock Price CAGR13%16%28%80%
Return on Equity%9%-4%34%
Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital152152152152152261261261261261261261
Reserves476436397450350-3972339312107107258
Borrowings7136585173213074713953548901,3391,1361,140
Other Liabilities8468238201,0067997909831,1521,2501,1991,4311,585
Total Liabilities2,1872,0691,8861,9291,6081,4831,7112,1052,7132,9072,9363,244
Fixed Assets1,1761,2701,1349358987036917027831,2171,2641,232
CWIP20636161179353241053642
Investments10416110000000
Other Assets7957917309776987731,0121,3681,6051,5841,6361,970
Total Assets2,1872,0691,8861,9291,6081,4831,7112,1052,7132,9072,9363,244
Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-28-8922112739-119182200-81-97391134
Cash from Investing Activity-34207-3-335340-18-75-348-258-36-14
Cash from Financing Activity65-115-208-111-9387-174-123479322-354-127
Net Cash Flow3310-17-18-9250-321-7
Free Cash Flow-299-12421984-38-130156120-441-357352111
CFO/OP-53%-325%181%210%-201%540%179%65%-176%258%219%43%
Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days111616292016191714161418
Inventory Days4648464836571026773676565
Days Payable808792136132126221126125120142141
Cash Conversion Cycle-24-23-30-60-76-53-100-43-38-38-63-58
Working Capital Days-50-42-43-50-69-52-62-22-25-81-73-42
ROCE %-8%1%-1%-8%11%33%3%-4%10%18%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.85%74.85%74.84%74.84%74.84%74.84%74.84%74.84%74.84%74.84%74.84%74.84%
FIIs0.17%0.16%0.03%0.00%0.01%0.00%0.01%0.50%0.37%0.21%0.24%0.13%
DIIs3.07%3.07%2.89%2.89%2.57%2.56%2.56%0.92%0.92%0.92%0.92%0.92%
Public21.92%21.92%22.24%22.27%22.56%22.59%22.58%23.73%23.86%24.03%24.00%24.12%
No. of Shareholders25,89325,87828,57228,27929,84030,27129,69728,72126,65126,94726,67726,804

Fundamentals

Market Cap₹ 2,701 Cr.
Current Price₹ 103
Stock P/E16.5
Book Value₹ 19.9
ROCE17.9 %
ROE34.4 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-2%
Compounded Profit Growth (TTM)124%
Consolidated figures.
Valuation
Market capRs 2,502 Cr
Enterprise valueRs 3,623 Cr
P/E (TTM)15.52x
Price to book4.82x
Price to sales0.55x
EV / EBITDA10.67x
EV / EBIT12.41x
EV / sales0.80x
Price to cash flow18.68x
Earnings yield6.44%
P/E, 3-year average320.43x
P/B, 3-year average2.23x
P/E, 5-year average215.75x
P/B, 5-year average2.27x
Profitability
Operating margin (excl. other income)6.35%
Operating margin (incl. other income)6.69%
EBITDA margin7.48%
Pre-tax margin3.55%
Net profit margin3.55%
Net margin, latest quarter6.81%
ROE33.85%
ROCE17.73%
ROA4.86%
ROE, 3-year average-3.00%
ROCE, 3-year average7.69%
ROA, 3-year average-0.78%
ROE, 5-year average8.89%
ROCE, 5-year average11.88%
ROA, 5-year average2.15%
ROIC (approx.)17.79%
Other income / net worth3.13%
Growth
Sales growth (latest year)15.29%
Profit growth (latest year)10629.29%
Sales CAGR, 3 years6.32%
Sales CAGR, 5 years19.17%
Profit CAGR, 5 years5.79%
Sales growth QoQ-22.06%
Profit growth QoQ-0.61%
Sales growth YoY (latest quarter)-28.27%
Profit growth YoY (latest quarter)20.83%
Per share
EPS (TTM)Rs 6.17
EPS (latest year)Rs 5.75
EPS (latest quarter)Rs 2.44
EPS, 3-year averageRs -0.66
EPS, 5-year averageRs 1.48
Book value per shareRs 19.88
Sales per shareRs 173.91
Cash flow per shareRs 5.13
Free cash flow per shareRs 4.25
Efficiency
Asset turnover1.51x
Fixed asset turnover3.98x
Inventory turnover6.44x
Inventory days57 days
Debtor days18 days
Debtors turnover20.18x
Creditor days141 days
Cash conversion cycle-58 days
Working capital days-42 days
Leverage
Total debtRs 1,140 Cr
Cash and bankRs 18 Cr
Net debtRs 1,122 Cr
Debt to equity2.20x
Net debt / EBITDA3.30x
Interest coverage2.23x
Current ratio (filing 2026-03-31)0.75x
Quick ratio (filing 2026-03-31)0.45x
Trade payables (filing 2026-03-31)Rs 1,451 Cr
Owners' fund to total sources16.00%
Debt to assets35.14%
Cash flow
Cash from Operating Activity (latest year)Rs 134 Cr
Cash from Investing Activity (latest year)Rs -14 Cr
Cash from Financing Activity (latest year)Rs -127 Cr
Net Cash Flow (latest year)Rs -7 Cr
Free cash flow (latest year)Rs 111 Cr
FCFE (approx.: FCF + change in debt)Rs 115 Cr
Cash from ops / profit, 5 years2.85x
Sales to cash flow36.67x
Statement figures
Net sales (TTM)Rs 4,541 Cr
Net sales (latest year)Rs 4,910 Cr
Sales (latest quarter)Rs 937 Cr
Operating profit excl. other income (latest year)Rs 312 Cr
Operating profit (latest quarter)Rs 102 Cr
Other income (TTM)Rs 17 Cr
EBITDA (TTM)Rs 340 Cr
PBDT (TTM)Rs 209 Cr
Profit before tax (TTM)Rs 161 Cr
Net profit (TTM)Rs 161 Cr
Net profit (latest year)Rs 150 Cr
Net profit (latest quarter)Rs 64 Cr
Depreciation (TTM)Rs 48 Cr
Depreciation (latest quarter)Rs 12 Cr
Interest (TTM)Rs 131 Cr
Cost of goods sold (latest year)Rs 4,297 Cr
Total expenditure (latest year)Rs 4,598 Cr
Total income (latest year)Rs 4,926 Cr
Share capitalRs 261 Cr
ReservesRs 258 Cr
Shareholders' fundsRs 519 Cr
Total assetsRs 3,244 Cr
Net blockRs 1,232 Cr
Capital work in progressRs 42 Cr
ReceivablesRs 243 Cr
InventoryRs 667 Cr
Other liabilitiesRs 1,585 Cr
Shares outstanding (crore)26.11
Ownership
Promoter holding74.84% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 15.5 is at the 66th percentile of its own 3.9-year range (median 11.1, low 3.8, high 26.0).
P/B 4.82 is at the 92th percentile (median 2.33).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodINDORAMANifty 50Difference
1 week-5.8%-2.8% -3.0 pts
1 month+40.9%-6.8% +47.7 pts
3 months+90.2%-7.6% +97.8 pts
6 months+218.4%+0.4% +218.0 pts
1 year+74.8%-9.9% +84.7 pts
2 years+95.1%-13.6% +108.7 pts
3 years+96.1%+14.2% +82.0 pts
5 years+89.5%+27.9% +61.6 pts

Red flags

F-score 7 of 8
lookOn NSE surveillance On NSE surveillance: ASM long-term
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹937 Cr -28.3% vs Jun 2025. Net profit ₹64 Cr +20.8%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-17Annual General Meeting
2023-07-20Annual General Meeting
2022-07-15Annual General Meeting
2021-08-13 Annual General Meeting
2020-08-18 Annual General Meeting
2019-07-17 Annual General Meeting
2018-07-19 Annual General Meeting
2017-09-08 Annual General Meeting
2016-09-21 Annual General Meeting/ Dividend - Re 1/- Per Share
2015-07-21Annual General Meeting/ Dividend - Re 1/- Per Share
2014-07-23Annual General Meeting / Dividend - Re 1/- Per Share
2013-06-25Annual General Meeting/Dividend Re 1 Per Equity Share
2012-06-12Annual General Meeting And Dividend Re.1/- Per Share
2011-07-05Annual General Meeting And Dividend Re.1/- Per Share
2011-02-23Interim Dividend-Re.1/- Per Share (Purpose Revised)
2010-10-14Annual General Meeting
2009-09-03Annual General Meeting
2008-08-28Agm/Dividend - 10%
2007-08-16Agm/Div-Re.1/- Per Share
2006-06-29Agm/Div-Rs.3.00 Per Sh
DateTypeWhat it says
2026-09-10Price movementSignificant movement in price has been observed in Indo Rama Synthetics (India) Limited. The Exchange, in order to ensure that investors have latest r...
2026-09-10Price movementSignificant movement in price has been observed in Indo Rama Synthetics (India) Limited. The Exchange, in order to ensure that investors have latest r...
2026-09-10UpdatesDisclosure under Reg 7(2) of SEBI(PIT) Regulations, 2015.
2026-09-10Shareholder meetingVoting results.
2026-09-08Shareholder meetingProceedings of 40th Annual General Meeting held on September 08, 2026 at 11.30 a.m.
2026-08-11General UpdatesBook Closure for the purpose of Annual General Meeting
2026-08-11Record DateRecord date for the purpose of Annual General Meeting is 01-Sep-2026.
2026-07-29Board meeting outcomeOutcome of Board Meeting held on July 29, 2026.
2026-07-29Board meeting outcomeIndo Rama Synthetics (India) Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-27General UpdatesAppointment of Additional Directors in the category of Non-executive Independent Directors and re-constitution of various Committees of the Board.
2026-05-29CessationIntimation of sad demise of Mr. Dhanendra Kumar, Independent Director of the Company and cessation w.e.f. May 28, 2026.
2026-05-25Board meeting outcomeOutcome of Board Meeting held on May 25, 2026.
2026-05-25Board meeting outcomeIndo Rama Synthetics (India) Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-25Board meeting outcomeSubmission of Audited Financial Results for Fourth Quarter and Year ended 31.03.2026.
2026-05-06Disclosure under SEBI TakeovIndo Rama Synthetics (India) Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of...
2026-04-23Shareholder meetingVoting results.
2026-03-23Shareholder meetingNotice of Postal Ballot
2026-03-17General UpdatesGeneral Updates
2026-01-31Board meeting outcomeBoard meeting held on January 31, 2026.
2026-01-31Board meeting outcomeIndo Rama Synthetics (India) Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-01-27Credit Rating- RevisionCredit Rating- Revision
2026-01-12UpdatesReport on Re-Lodgement of Transfer Request of Physical Shares.
2025-12-30Regulatory actionAction(s) initiated or orders passed
2025-12-19Shareholder meetingIndo Rama Synthetics (India) Limited has submitted the Exchange a copy Srutinizers report and voting results in respect of Postal Ballot Notice date...
2025-11-17Shareholder meetingNotice of Postal Ballot
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2019-08-26CESTATINDO RAMA SYNTHETICS INDIA LTD ---VS.--- DESIGNATED AUTHORITY DIRECTORATE GENERAL OF ANTI-DUMPING AND ALLIED DUTIES
2019-07-24CESTATINDO RAMA SYNTHETICS INDIA LTD ---VS.--- DESIGNATED AUTHORITY DIRECTORATE GENERAL OF ANTI-DUMPING AND ALLIED DUTIES
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Long Term Additional Surveillance Measure (Long Term ASM): stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03