Indo National Ltd

₹ 548 -2.43%

20 Dec - close price

About

Incorporated in 1972, Indo National manufactures and markets batteries, torches, LED products, electrical accessories, mosquito bats, razors and blades^[1]

Key Points

Business Overview:^[1]^[2]
INL is an ISO 9001, ISO 14001 and ISI certified dry battery company. It sells products under the brand name Nippo. Apart from that, INL also deals in a diverse range of flashlights, mosquito swatters, LED lighting products and electrical accessories. INL is the 2nd-largest player in the dry cell batteries industry in India, with capacity of 78.5 cr battery per annum and a market share of 30%+. It has an established distribution network comprising exclusive distributors, 2,500 exclusive stockists, 26 depots, and 17 lakh retail outlets and wholesalers

Website BSE NSE

Market Cap ₹ 411 Cr.
Current Price ₹ 548
High / Low ₹ 858 / 500
Stock P/E 100
Book Value ₹ 304
Dividend Yield 0.91 %
ROCE 4.79 %
ROE 2.95 %
Face Value ₹ 5.00

Add ratio to table

Edit ratios

Pros

Company has been maintaining a healthy dividend payout of 160%
Company's working capital requirements have reduced from 78.0 days to 48.1 days

Cons

The company has delivered a poor sales growth of 8.02% over past five years.
Company has a low return on equity of 2.26% over last 3 years.
Earnings include an other income of Rs.7.38 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Dry cells Industry: Dry Cells

Edit Columns

Loading peers table ...

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	108.69	103.61	80.81	92.26	107.71	109.93	94.90	105.44	135.50	121.53	103.61	111.66	127.57
	101.12	103.69	87.96	90.13	104.36	105.90	96.40	102.75	127.72	117.69	102.90	108.16	126.29
Operating Profit	7.57	-0.08	-7.15	2.13	3.35	4.03	-1.50	2.69	7.78	3.84	0.71	3.50	1.28
OPM %	6.96%	-0.08%	-8.85%	2.31%	3.11%	3.67%	-1.58%	2.55%	5.74%	3.16%	0.69%	3.13%	1.00%
	4.63	3.76	2.11	1.25	1.42	1.26	2.03	1.23	1.57	1.69	1.27	1.06	3.36
Interest	0.79	0.76	0.28	0.60	0.47	0.70	0.62	0.76	1.13	1.03	0.82	0.71	0.07
Depreciation	1.41	1.61	1.42	1.75	1.82	3.50	3.01	2.08	2.28	2.21	2.43	2.76	2.86
Profit before tax	10.00	1.31	-6.74	1.03	2.48	1.09	-3.10	1.08	5.94	2.29	-1.27	1.09	1.71
Tax %	25.60%	28.24%	-24.63%	28.16%	26.61%	27.52%	-24.19%	25.93%	19.19%	17.47%	-37.80%	7.34%	-16.96%
	7.44	0.95	-5.08	0.74	1.82	0.78	-2.34	0.81	4.80	1.88	-0.79	1.01	2.00
EPS in Rs	9.92	1.27	-6.77	0.99	2.43	1.04	-3.12	1.08	6.40	2.51	-1.05	1.35	2.67
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	304	314	307	315	318	276	317	330	387	368	405	466	464
	301	301	284	295	296	254	298	307	353	364	397	451	455
Operating Profit	3	13	24	20	22	21	19	23	34	4	8	15	9
OPM %	1%	4%	8%	6%	7%	8%	6%	7%	9%	1%	2%	3%	2%
	9	13	23	18	18	18	19	-11	21	15	6	6	7
Interest	2	2	1	1	2	2	4	6	4	2	2	4	3
Depreciation	5	5	5	5	5	6	6	6	5	6	10	9	10
Profit before tax	4	18	40	32	32	31	28	1	46	11	2	8	4
Tax %	7%	31%	28%	47%	35%	33%	32%	52%	26%	27%	33%	17%
	4	13	29	17	21	21	19	0	34	8	1	7	4
EPS in Rs	5.20	16.95	38.56	22.59	27.88	28.04	25.41	0.65	45.27	10.37	1.33	8.93	5.48
Dividend Payout %	96%	59%	32%	55%	45%	36%	39%	383%	28%	48%	375%	56%

Compounded Sales Growth
10 Years:	4%
5 Years:	8%
3 Years:	6%
TTM:	4%

Compounded Profit Growth
10 Years:	-6%
5 Years:	-19%
3 Years:	-42%
TTM:	1%

Stock Price CAGR
10 Years:	4%
5 Years:	18%
3 Years:	6%
1 Year:	-21%

Return on Equity
10 Years:	9%
5 Years:	7%
3 Years:	2%
Last Year:	3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	4	4	4	4	4	4	4	4	4	4	4	4	4
Reserves	138	142	158	164	185	194	204	195	227	225	223	225	224
	0	17	9	35	19	22	30	31	29	38	21	17	202
	42	47	46	46	47	52	60	70	78	69	72	92	76
Total Liabilities	184	211	216	248	254	273	298	300	337	335	319	338	506
	52	60	56	73	81	81	77	74	71	112	117	131	133
CWIP	0	0	0	0	0	0	0	0	0	0	1	0	0
Investments	0	0	0	32	38	47	47	47	47	47	73	78	199
	132	151	160	143	133	145	175	180	220	177	129	128	174
Total Assets	184	211	216	248	254	273	298	300	337	335	319	338	506

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	23	2	13	43	41	33	8	17	-9	19	44	29
	-17	4	-4	-26	-20	-13	-0	-2	14	-32	-18	-17
	-6	-5	-9	-11	-36	-14	-13	-14	-8	-2	-26	-11
Net Cash Flow	-0	2	0	6	-14	6	-5	1	-3	-16	0	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	75	88	101	80	84	101	97	69	83	32	31	34
Inventory Days	57	65	71	59	73	76	74	92	103	145	81	73
Days Payable	29	31	25	15	20	36	38	58	54	43	36	35
Cash Conversion Cycle	103	122	147	124	136	141	132	102	131	134	75	73
Working Capital Days	89	102	118	97	112	121	125	108	125	113	73	48
ROCE %	6%	13%	20%	16%	17%	16%	14%	15%	20%	5%	1%	5%

Shareholding Pattern

Numbers in percentages

1 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%
	0.00%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.00%	0.04%
	34.64%	34.52%	34.65%	34.65%	34.64%	34.65%	34.64%	34.65%	34.65%	34.62%	34.65%	34.61%
No. of Shareholders	11,607	11,790	12,235	12,645	11,749	11,871	11,766	11,280	10,216	11,052	13,027	13,434

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	74.85%	74.85%	74.85%	65.35%	65.35%	65.35%	65.35%	65.35%	65.35%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.13%	0.00%	0.03%	0.04%
	0.08%	0.05%	0.01%	5.33%	5.33%	0.00%	0.00%	0.00%	0.00%
	25.07%	25.10%	25.14%	29.31%	29.31%	34.52%	34.65%	34.62%	34.61%
No. of Shareholders	7,188	7,059	7,123	7,472	7,132	11,790	11,871	11,052	13,434

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Indo National Ltd

Indo National Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports

Credit ratings

Concalls