Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 96 | 139 | 175 | 82 | 146 | 177 | 206 | 164 | 183 | 196 | 239 | 228 |
| Expenses | 85 | 124 | 148 | 74 | 123 | 153 | 185 | 140 | 152 | 163 | 207 | 196 |
| Operating Profit | 11 | 15 | 27 | 8 | 23 | 24 | 21 | 24 | 31 | 33 | 32 | 32 |
| OPM % | 12% | 11% | 15% | 10% | 16% | 14% | 10% | 15% | 17% | 17% | 14% | 14% |
| Other Income | 2 | 1 | 3 | 2 | 3 | 6 | 5 | 3 | 4 | 2 | 1 | 5 |
| Interest | 1 | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Profit before tax | 11 | 14 | 27 | 8 | 24 | 29 | 24 | 25 | 33 | 34 | 32 | 34 |
| Tax % | 36% | 24% | 6% | 29% | 28% | 33% | 14% | 23% | 26% | 26% | 25% | 25% |
| Net Profit | 7 | 11 | 26 | 6 | 18 | 19 | 21 | 19 | 25 | 25 | 24 | 26 |
| EPS in Rs | 6.66 | 10.06 | 24.08 | 5.56 | 16.69 | 18.15 | 19.76 | 18.05 | 23.33 | 23.45 | 22.52 | 24.20 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 190 | 149 | 220 | 213 | 205 | 206 | 280 | 371 | 503 | 612 | 782 | 846 |
| Expenses | 191 | 152 | 221 | 215 | 203 | 195 | 258 | 335 | 435 | 527 | 653 | 718 |
| Operating Profit | -1 | -3 | -1 | -2 | 2 | 11 | 22 | 36 | 68 | 85 | 129 | 128 |
| OPM % | -0.5% | -2.0% | -0.6% | -1.0% | 0.9% | 5% | 8% | 10% | 14% | 14% | 17% | 15% |
| Other Income | 13 | 2 | 5 | 1 | 5 | 3 | 2 | 3 | 7 | 16 | 10 | 13 |
| Interest | 2 | 3 | 2 | 2 | 2 | 3 | 7 | 8 | 12 | 11 | 11 | 2 |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 4 | 5 | 5 |
| Profit before tax | 4 | -9 | -4 | -8 | 0 | 6 | 12 | 26 | 57 | 86 | 124 | 133 |
| Tax % | 0% | 24% | 0% | 0% | -1,820% | 1% | 2% | 0% | 18% | 26% | 25% | |
| Net Profit | 4 | -11 | -4 | -8 | 2 | 6 | 12 | 26 | 47 | 64 | 93 | 99 |
| EPS in Rs | 3.79 | -10.61 | -3.47 | -7.90 | 1.81 | 5.92 | 11.48 | 24.20 | 44.12 | 60.15 | 87.35 | 93.50 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 11% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 15% | 31% | 28% | 22% | ||
| Compounded Profit Growth | 32% | 71% | 53% | 29% | ||
| Stock Price CAGR | 33% | 83% | 95% | 90% | ||
| Return on Equity | 13% | 23% | 26% | 28% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 140 | 144 | 128 | 123 | 115 | 116 | 123 | 134 | 160 | 207 | 270 | 363 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 11 | 5 | 8 | 5 |
| Other Liabilities | 57 | 59 | 64 | 75 | 69 | 77 | 55 | 94 | 121 | 164 | 150 | 178 |
| Total Liabilities | 207 | 214 | 202 | 209 | 195 | 203 | 188 | 240 | 303 | 386 | 438 | 557 |
| Fixed Assets | 66 | 62 | 54 | 50 | 52 | 48 | 44 | 41 | 44 | 49 | 50 | 75 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 6 | 12 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 141 | 152 | 148 | 159 | 143 | 155 | 144 | 197 | 258 | 337 | 383 | 470 |
| Total Assets | 207 | 214 | 202 | 209 | 195 | 203 | 188 | 240 | 303 | 386 | 438 | 557 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -13 | -3 | -12 | 4 | 17 | -14 | 8 | 22 | -4 | 32 | 55 | 57 |
| Cash from Investing Activity | -0 | 8 | -1 | -1 | -1 | -2 | -3 | -9 | -15 | -12 | -18 | -53 |
| Cash from Financing Activity | 19 | 0 | -1 | -0 | -0 | -0 | -0 | -0 | 9 | -8 | 1 | -5 |
| Net Cash Flow | 5 | 6 | -14 | 2 | 16 | -16 | 5 | 13 | -9 | 12 | 39 | -1 |
| Free Cash Flow | -14 | 8 | -14 | 3 | 17 | -16 | 7 | 18 | -12 | 24 | 40 | 23 |
| CFO/OP | 137% | 270% | 400% | -311% | -856% | -756% | 28% | 100% | -12% | 67% | 87% | 68% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 121 | 124 | 146 | 132 | 106 | 131 | 123 | 106 | 127 | 101 | 73 | 56 |
| Inventory Days | 117 | 88 | 162 | 91 | 79 | 113 | 92 | 98 | 102 | 126 | 114 | 131 |
| Days Payable | 97 | 101 | 127 | 116 | 101 | 134 | 96 | 130 | 123 | 88 | 40 | 38 |
| Cash Conversion Cycle | 141 | 111 | 181 | 107 | 84 | 110 | 118 | 75 | 106 | 139 | 147 | 149 |
| Working Capital Days | 150 | 123 | 168 | 110 | 67 | 105 | 112 | 74 | 80 | 79 | 73 | 75 |
| ROCE % | 1% | -3% | -4% | -1% | -5% | 2% | 7% | 14% | 21% | 34% | 38% | 40% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 72.18% |
| FIIs | 0.00% | 0.00% | 0.02% | 0.42% | 0.39% | 0.48% | 0.24% | 0.16% | 0.17% | 0.19% | 0.27% | 0.28% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.01% | 0.00% | 0.66% | 0.66% | 0.41% | 0.60% | 0.66% | 0.00% | 0.05% |
| Public | 25.00% | 25.00% | 24.98% | 24.58% | 24.60% | 23.85% | 24.08% | 24.44% | 24.23% | 24.15% | 24.72% | 27.50% |
| No. of Shareholders | 8,932 | 8,900 | 11,075 | 16,210 | 17,302 | 20,675 | 25,077 | 27,561 | 26,561 | 26,361 | 25,871 | 24,680 |
Fundamentals
Market Cap₹ 3,379 Cr.
Current Price₹ 3,186
Stock P/E34.0
Book Value₹ 352
ROCE40.4 %
ROE28.4 %
Dividend Yield0.31 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)22%
Compounded Profit Growth (TTM)29%
Standalone figures.
Valuation
Market capRs 3,555 Cr
Enterprise valueRs 3,447 Cr
P/E (TTM)35.80x
Price to book9.51x
Price to sales4.20x
EV / EBITDA24.50x
EV / EBIT25.48x
EV / sales4.07x
Price to cash flow62.50x
Earnings yield2.79%
Dividend yield0.30%
P/E, 3-year average24.12x
P/B, 3-year average5.49x
P/E, 5-year average19.67x
P/B, 5-year average3.82x
Profitability
Operating margin (excl. other income)16.51%
Operating margin (incl. other income)17.84%
EBITDA margin16.63%
Pre-tax margin15.72%
Net profit margin11.74%
Net margin, latest quarter11.28%
ROE28.35%
ROCE40.35%
ROA18.63%
ROE, 3-year average26.05%
ROCE, 3-year average37.55%
ROA, 3-year average15.91%
ROE, 5-year average20.64%
ROCE, 5-year average29.46%
ROA, 5-year average12.58%
ROIC (approx.)38.25%
Tax rate25.00%
Other income / net worth2.79%
Growth
Sales growth (latest year)27.84%
Profit growth (latest year)45.23%
Sales CAGR, 3 years28.23%
Sales CAGR, 5 years30.58%
Profit CAGR, 3 years53.40%
Profit CAGR, 5 years71.30%
Sales growth QoQ-4.64%
Profit growth QoQ7.44%
Sales growth YoY (latest quarter)39.02%
Profit growth YoY (latest quarter)34.06%
Per share
EPS (TTM)Rs 93.50
EPS (latest year)Rs 87.35
EPS (latest quarter)Rs 24.20
EPS, 3-year averageRs 63.88
EPS, 5-year averageRs 45.46
Book value per shareRs 351.89
Sales per shareRs 796.65
Cash flow per shareRs 53.56
Free cash flow per shareRs 21.66
Dividend per share (latest year)Rs 10.00
Dividend per share, 3-year averageRs 10.00
Dividend per share, 5-year averageRs 10.00
Dividends
Dividend payout11.45%
Dividend payout, 3-year average11.45%
Dividend payout, 5-year average11.45%
Efficiency
Asset turnover1.40x
Fixed asset turnover10.46x
Inventory turnover2.91x
Inventory days125 days
Debtor days56 days
Debtors turnover6.46x
Creditor days38 days
Cash conversion cycle149 days
Working capital days75 days
Leverage
Total debtRs 5 Cr
Cash and bankRs 114 Cr
Net debtRs -109 Cr
Debt to equity0.01x
Net debt / EBITDA-0.77x
Interest coverage61.20x
Current ratio (filing 2026-03-31)2.58x
Quick ratio (filing 2026-03-31)1.44x
Trade payables (filing 2026-03-31)Rs 58 Cr
Owners' fund to total sources67.06%
Debt to assets0.93%
Cash flow
Cash from Operating Activity (latest year)Rs 57 Cr
Cash from Investing Activity (latest year)Rs -53 Cr
Cash from Financing Activity (latest year)Rs -5 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs 23 Cr
FCFE (approx.: FCF + change in debt)Rs 20 Cr
Cash from ops / profit, 5 years0.67x
Sales to cash flow13.75x
Statement figures
Net sales (TTM)Rs 846 Cr
Net sales (latest year)Rs 782 Cr
Sales (latest quarter)Rs 228 Cr
Operating profit excl. other income (latest year)Rs 129 Cr
Operating profit (latest quarter)Rs 32 Cr
Other income (TTM)Rs 13 Cr
EBITDA (TTM)Rs 141 Cr
PBDT (TTM)Rs 138 Cr
Profit before tax (TTM)Rs 133 Cr
Tax (latest year)Rs 31 Cr
Net profit (TTM)Rs 99 Cr
Net profit (latest year)Rs 93 Cr
Net profit (latest quarter)Rs 26 Cr
Depreciation (TTM)Rs 5 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 580 Cr
Total expenditure (latest year)Rs 653 Cr
Total income (latest year)Rs 793 Cr
Share capitalRs 11 Cr
ReservesRs 363 Cr
Shareholders' fundsRs 374 Cr
Total assetsRs 557 Cr
Net blockRs 75 Cr
Capital work in progressRs 12 Cr
ReceivablesRs 121 Cr
InventoryRs 199 Cr
Other liabilitiesRs 178 Cr
Shares outstanding (crore)1.06
Ownership
Promoter holding72.18% (-2.82 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 35.8 is at the 53th percentile of its own 6.4-year range
(median 34.1, low 13.1, high 71.0).
P/B 9.51 is at the 85th percentile (median 1.58).
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.
| Period | INDOTECH | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +4.9% | -2.8% | +7.7 pts |
| 1 month | -9.6% | -6.8% | -2.8 pts |
| 3 months | +6.7% | -7.6% | +14.3 pts |
| 6 months | +203.0% | +0.4% | +202.6 pts |
| 1 year | +91.4% | -9.9% | +101.3 pts |
| 2 years | +79.4% | -13.6% | +93.0 pts |
| 3 years | +676.7% | +14.2% | +662.5 pts |
| 5 years | +2074.5% | +27.9% | +2046.6 pts |
4 mutual fund schemes hold about ₹21 Cr.
Over three months 0 bought more and 0 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Bajaj Finserv Large & Mid Cap Fund | 0.60% | 15 | |
| Bandhan Infrastructure Fund | 0.34% | 5 | |
| Bajaj Finserv ELSS-Tax Saver Fund | 1.21% | 1 | |
| Bandhan Balanced Advantage Fund | 0.00% | 0 |
Red flags
F-score 7 of 8No red flags in the latest statements and filings.
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 2026Sales ₹228 Cr +39.0% vs Jun 2025.
Net profit ₹26 Cr +36.8%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Bharat Heavy Electricals Ltd | 143,931 | 59.2 | 9.14 % |
| ABB India Ltd | 141,142 | 91.6 | 29.9 % |
| Hitachi Energy India Ltd | 136,993 | 115 | 29.4 % |
| CG Power & Industrial Solutions Ltd | 135,183 | 106 | 26.7 % |
| Siemens Ltd | 132,121 | 87.9 | 21.4 % |
| GE Vernova T&D India Ltd | 108,554 | 80.4 | 77.4 % |
| Suzlon Energy Ltd | 53,862 | 17.1 | 34.2 % |
| Thermax Ltd | 39,214 | 71.2 | 13.9 % |
| Schneider Electric Infrastructure Ltd | 28,517 | 147 | 29.6 % |
| TD Power Systems Ltd | 24,386 | 88.7 | 34.0 % |
| Azad Engineering Ltd | 18,820 | 135 | 11.9 % |
| Triveni Turbine Ltd | 17,279 | 49.8 | 34.1 % |
| Atlanta Electricals Ltd | 12,566 | 57.6 | 45.3 % |
| Quality Power Electrical Equipments Ltd | 12,502 | 93.8 | 31.7 % |
| Inox Wind Ltd | 12,357 | 35.9 | 10.6 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-09-16 | Dividend - Rs 10 Per Share | |
| 2024-09-20 | Annual General Meeting | |
| 2023-09-22 | Annual General Meeting | |
| 2022-09-21 | Annual General Meeting | |
| 2021-08-31 | Annual General Meeting | |
| 2020-10-08 | Annual General Meeting | |
| 2019-08-06 | Annual General Meeting | |
| 2018-08-06 | Annual General Meeting | |
| 2017-08-29 | Annual General Meeting | |
| 2016-07-26 | Annual General Meeting | |
| 2015-08-05 | Annual General Meeting | |
| 2014-07-24 | Annual General Meeting | |
| 2013-10-24 | Annual General Meeting | |
| 2012-08-03 | Annual General Meeting | |
| 2011-07-29 | Annual General Meeting | |
| 2010-07-16 | Annual General Meeting | |
| 2009-08-28 | Annual General Meeting | |
| 2009-03-13 | 2nd Interim Dividend-39% Purpose Revised | |
| 2008-12-15 | Interim Dividend - 85% | |
| 2008-07-10 | Agm/Dividend - 60% | |
| 2007-07-12 | Dividend-45% | |
| 2006-07-13 | Dividend-20% |
No announcements in our files yet.
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.
Close to Close price movement greater than 75perc in previous 6 monthsHigh low price variation greater than 100perc in previous 6 monthsHigh low price variation greater than 200perc in previous 365 DaysThe Overall encumbered share in the scrip is more than 50 Percent.