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Swing Capital

Indo Rama Synthetics (India) Ltd

NSE: INDORAMA BSE: 500207

Indo Rama Synthetics (India) Ltd (INDORAMA) is a Diversified company listed on NSE: INDORAMA | BSE: 500207. With a market cap of ₹920 Cr and ROCE of 10.7%, ROE of 4.76%, it operates in the Indian Diversified sector.

₹35.2
52W: ₹28.7 — ₹75
PE 7.75 · Book ₹19.5 · +81% vs book
Market Cap₹920 Cr
Stock P/E7.75Price to Earnings
ROCE10.7%Return on Capital
ROE4.76%Return on Equity
Div. Yield0%Face Value ₹10

Weaknesses

  • −Company has low interest coverage ratio.
  • −Company has a low return on equity of -8.83% over last 3 years.

Shareholding Pattern

Promoters74.84%
FIIs0.24%
DIIs0.92%
Public24%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74.84%74.84%74.84%74.84%74.84%74.84%74.84%74.84%
FIIs0%0.01%▲0.00%▼0.00.01%▲0.00.5%▲0.50.37%▼0.10.21%▼0.20.24%▲0.0
DIIs2.89%2.57%▼0.32.56%▼0.02.56%0.92%▼1.60.92%0.92%0.92%
Public22.27%22.56%▲0.322.59%▲0.022.58%▼0.023.73%▲1.223.86%▲0.124.03%▲0.224%▼0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales1,1968328648699041,0701,1141,1851,1661,071
Expenses1,1598798428449061,0111,0421,1241,1091,027
Operating Profit37-472225-26072615844
OPM %3%-6%3%3%0%6%6%5%5%4%
Net Profit5-79-16-12-382150322311
EPS ₹0.19-3.02-0.6-0.47-1.470.811.91.240.880.42

AI Insights

Revenue Trend

TTM revenue at ₹4,536Cr, up 14.6% YoY. OPM at 5%.

Debt Position

Borrowings at ₹867Cr. Debt-to-equity ratio: 3.51x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹33Cr (4% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.92% (-2.15pp change). FIIs: 0.24% (+0.07pp change). Promoters hold 74.84%.

Margin & Efficiency

ROCE improving from -10% (Mar 2014) to 11% (Mar 2025). Working capital days: -59.

Valuation

PE 7.75x with 10.7% ROCE. Price is 81% above book value of ₹19.5. Dividend yield: 0%.

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