Indo-National
Indo-National Limited valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for Indo-National Limited, framed against the sector median so the premium or discount is obvious at a glance.
Valuation
Profitability
Growth
Financial Health
Indo-National Limited chart patterns: breakouts, tops and bottoms.
Auto-detected classical chart patterns for Indo-National Limited — Double Top/Bottom, Head & Shoulders, Triple Bottom and more — with break levels, targets and quality scores across Intraday, Daily and Weekly timeframes.
Indo-National Limited financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for Indo-National Limited, switchable between annual and quarterly views, consolidated or standalone.
Indo-National Limited reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹269.25 Cr and reported EPS of ₹-35.12.
| Period | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 403 | 330 | 532 | 570 | 572 | 641 | 467 | 452 |
| Other Income | 15 | 18 | 18 | 19 | 5 | 10 | 190 | 8 |
| Total Income | 419 | 348 | 550 | 589 | 577 | 651 | 657 | 460 |
| Cost of Goods Sold (COGS) | 227 | 209 | 297 | 342 | 363 | 370 | 291 | 277 |
| Gross Profit | 176 | 121 | 235 | 229 | 209 | 270 | 176 | 175 |
| +Operating Expenses | 134 | 98 | 178 | 203 | 194 | 230 | 198 | 193 |
| EBITDA | 42 | 23 | 57 | 26 | 15 | 41 | -22 | -18 |
| +Non-Operating Expenses | 14 | -18 | 26 | 24 | 28 | 31 | 16 | 16 |
| Profit Before Tax (PBT) | 43 | 1 | 50 | 21 | -8 | 19 | 151 | -26 |
| +Tax Expense | 12 | 1 | 17 | 8 | -0 | 5 | 29 | 0 |
| Total Profit for Period | 31 | 0 | 33 | 13 | -8 | 15 | 122 | -27 |
| Less: Non-controlling Interests | 9 | — | 2 | 5 | -3 | 5 | -2 | -0 |
| Net Profit (Owner's PAT) | 22 | 0 | 30 | 8 | -6 | 10 | 124 | -26 |
| Earnings Per Share (EPS) | 29.79 | 0.65 | 40.50 | 10.59 | -7.59 | 12.83 | 165.02 | -35.12 |
| Diluted Shares Outstanding (Nos.) | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| +Additional Disclosures | 611 | 527 | 799 | 914 | 947 | 1,005 | 796 | 764 |
| Sales Growth % | — | -18.28 | 61.29 | 7.22 | 0.32 | 11.99 | -27.03 | -3.21 |
| YoY Sales Growth % | — | — | 61.29 | 7.22 | 0.32 | 11.99 | -27.03 | -3.21 |
| Material Cost % | 43 | 38 | 41 | 45 | 42 | 37 | 36 | 35 |
| Employee Cost % | 14 | 14 | 15 | 15 | 15 | 16 | 17 | 17 |
| Other Cost % | 19 | 16 | 18 | 20 | 19 | 20 | 25 | 26 |
| OPM % | 11 | 7 | 11 | 5 | 3 | 6 | -5 | -4 |
| Tax % | 29 | 52 | 35 | 36 | 0 | 25 | 19 | -2 |
| Profit Growth % | — | — | 6,146.54 | -73.85 | -171.66 | 268.95 | 1,186.63 | -121.28 |
| Gross Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.00 | -0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 | 0.00 | -0.00 | 0.00 | -0.00 | -0.00 |
| +Additional Fields | 33 | 17 | 45 | 13 | -2 | 23 | -36 | -31 |
Indo-National segment analysis: revenue and profit mix.
Disclosed business segments at Indo-National with their share of revenue and profit, switchable between consolidated and standalone reporting.
Indo-National discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
Indo-National Limited investment thesis: bull case, bear case, and the flip lines.
Why someone would buy Indo-National Limited, why someone wouldn't, and the quantitative tripwires that would force the call to flip.
Indo-National Limited's investment case rests on 8 positive markers and 9 flagged concerns drawn from the latest reported filings.
What you're getting.
Promoters maintain a significant and stable stake of 65.35%, indicating strong confidence in the company's long-term prospects and strategic direction. This provides stability.
The company boasts impressive return on capital employed (ROCE) at 32.90% and return on equity (ROE) at 36.70%, suggesting efficient capital utilization and value creation for shareholders.
With a very low debt-to-equity ratio of 0.12, the company demonstrates a healthy financial structure and minimal reliance on external borrowings, reducing financial risk.
The stock trades at a price-to-book value of 0.76, which is below its book value of 584.00, potentially indicating an undervalued asset for investors.
As part of the Household Products and FMCG sector, the company can capitalize on growing consumer demand and market expansion in essential goods.
What can break it.
The company reported a negative profit after tax of -9.84 Cr and negative EPS of -13.1, indicating a lack of overall profitability over the trailing twelve months.
Recent quarterly results show a significant decline in profit after tax by -47.90% and sales by -6.25%, raising concerns about short-term operational challenges.
A negative operating profit margin (OPM) of -1.39% suggests that core business operations are not generating sufficient profit to cover operating expenses.
A P/E ratio of 0.00 reflects negative earnings, making valuation difficult and signaling a lack of current profitability, which is a significant concern for investors.
The current price of 446.00 is closer to its 52-week low of 388.00, indicating recent downward pressure and potential investor uncertainty.
What would change my mind.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 37.47. Balance sheet risk re-prices growth multiples fast.
Income thesis breaks if the dividend is cut or yield falls below 0.69%.
Indo-National Limited peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — Indo-National Limited is highlighted for quick read-across.
Quick Compare
Indo-National Limited technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for Indo-National Limited — derived from the live tape, not yesterday's close.
Indo-National Limited last traded at ₹359.3 with an intraday range of ₹355.1–₹360.8 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹359.30| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 373.10 | +13.80 | +3.84% |
| R3 | 367.40 | +8.10 | +2.25% |
| R2 | 364.10 | +4.80 | +1.34% |
| R1 | 361.70 | +2.40 | +0.67% |
| PIVOT | 358.40 | -0.90 | -0.25% |
| CURRENT | 359.30 | — | — |
| S1 | 344.60 | -14.70 | -4.09% |
| S2 | 350.30 | -9.00 | -2.50% |
| S3 | 352.70 | -6.60 | -1.84% |
| S4 | 356.00 | -3.30 | -0.92% |
NIPPOBATRY is trading Above CPR, indicating Bullishness
CPR is Average
Day's range: 340.5 ~ 361.95
Trading Inside opening range
Indo-National Limited delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for Indo-National Limited over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in Indo-National Limited stood at 83.9% of traded volume, against a 20-day average of 61.2%.
Indo-National announcements: results, concalls, ratings, M&A.
Filings Indo-National sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
Indo-National files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 55 documents below.
Acquisition
Indo-National Limited has informed the Exchange about Acquisition
Copy of Newspaper Publication
Indo-National Limited has informed the Exchange about Copy of Newspaper Publication
Acquisition
Indo-National Limited has informed the Exchange about Acquisition
Outcome of Board Meeting
Indo-National Limited has informed the Exchange regarding Outcome of Board Meeting held on April 30, 2026.
Reply to Clarification- Financial results
The Exchange had sought clarification from Indo-National Limited for the quarter ended 31-Mar-2024 with respect to Regulation 33 of the SEBI (Listing…
Indo-National dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue Indo-National has declared, sequenced by announce and record date.
Indo-National corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About Indo-National Limited: business, sector, key facts.
What Indo-National Limited does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
Indo-National Limited operates in the Fast Moving Consumer Goods, listed as NSE: NIPPOBATRY, BSE: 504058.
Indo National Limited, formerly known as Nippo Batteries Co. Ltd., is a prominent Indian manufacturer and distributor of a diverse range of products primarily focused on batteries and lighting solutions. The company's core business revolves around the production and sale of dry cell and rechargeable batteries, catering to various consumer and industrial needs. Their battery offerings encompass alkaline and zinc-carbon technologies, ensuring a wide selection to meet different power requirements and price points.
Beyond batteries, Indo National Limited has significantly expanded its product portfolio to include a comprehensive range of lighting products. This includes traditional battery-operated flashlights and rechargeable torches, as well as more modern LED lighting solutions. Their LED offerings are extensive and cover several segments, encompassing battens, spotlights, downlights, panel lights, rechargeable bulbs, and standard incandescent bulbs. This diversification allows them to cater to a wide spectrum of lighting needs, from basic household illumination to more specialized applications.
Further diversifying its business, the company also offers a selection of electrical accessories and other Fast-Moving Consumer Goods (FMCG) products. This includes essential items such as spike guards (surge protectors) and flex boxes (wire organizers), enhancing their reach into the broader electrical goods market. They also provide mosquito repellents (liquid vaporizers and possibly others) and a line of razors and blades under the DORCO brand. This strategic diversification into related consumer goods contributes to the company's overall revenue streams and market presence.
Established in 1972 and headquartered in Chennai, India, Indo National Limited has a substantial history in the Indian market. Their evolution from primarily a battery manufacturer to a diverse provider of batteries, lighting, and consumer goods reflects an adaptive business strategy aiming for sustained growth and market leadership. The company's extensive product portfolio positions it as a significant player in several interconnected sectors within the Indian consumer and industrial markets.
Questions investors ask about Indo-National Limited (NIPPOBATRY).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of Indo-National Limited (NIPPOBATRY)?
The current share price of Indo-National Limited (NIPPOBATRY) is ₹359.3. Today, the stock has gained by ₹3.85 (1.08%), trading in a range of ₹355.1 to ₹360.8. The stock opened at ₹358.1 with a trading volume of 3,455 shares.
02Is Indo-National Limited stock a good investment for long-term?
Indo-National Limited can be considered for long-term investment based on several factors. The company has a market capitalization of ₹269.25 crores, P/E ratio of -7.32, ROE of 0.00%, and ROCE of 32.90%. The dividend yield stands at 1.39%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of Indo-National Limited stock?
The 52-week high price of Indo-National Limited (NIPPOBATRY) is ₹505.9, while the 52-week low is ₹257. Currently trading at ₹359.3, the stock is 41.1% away from its 52-week low and 29.0% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy Indo-National Limited stock at the current price?
Whether to buy Indo-National Limited stock at ₹359.3 depends on multiple factors. The stock is currently trading with a P/E ratio of -7.32 and P/B ratio of 0.64. Today's performance shows a gain of 1.08%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of Indo-National Limited and when is the next dividend?
Indo-National Limited offers a dividend yield of 1.39%, which means for every ₹100 invested at the current price of ₹359.3, you can expect to receive approximately ₹1.39 annually as dividends. The face value of the stock is ₹5.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of Indo-National Limited?
Indo-National Limited's key financial metrics include: P/E Ratio: -7.32, P/B Ratio: 0.64, ROE: 0.00%, ROCE: 32.90%, Dividend Yield: 1.39%, EPS: ₹-35.12, Book Value: ₹403.35, and Debt-to-Equity: 36.97. The company's market cap stands at ₹269.25 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is Indo-National Limited stock performing today in the market?
Indo-National Limited stock opened at ₹358.1 and is currently trading at ₹359.3, showing a gain of ₹3.85 (1.08%). The intraday high is ₹360.8 and low is ₹355.1. The trading volume stands at 3,455 shares, indicating moderate market participation today.
08What is the P/E ratio of Indo-National Limited and what does it indicate?
Indo-National Limited has a Price-to-Earnings (P/E) ratio of -7.32, which means investors are willing to pay ₹-7.32 for every ₹1 of earnings. With an EPS of ₹-35.12, this P/E ratio suggests the stock may be undervalued or facing growth challenges. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about Indo-National Limited (NIPPOBATRY) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
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