Indo Rama Synthetics (India) Limited (IN:INDORAMA)
:INDORAMA
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Indo Rama Synthetics (India) Limited
(INDORAMA)
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Rating:62Neutral
Price Target:
₹47.00
▼(-2.87% Downside)
Action:Reiterated
Date:06/05/26
The score is driven by a meaningful FY2026 earnings and cash-flow recovery, but tempered by still-high leverage and historical volatility in margins/cash generation. Technicals add support via positive momentum, and valuation is favorable given the low P/E.
Positive Factors
Revenue rebound and restored profitability
A material revenue rebound and return to positive margins indicate structural recovery in demand and operational performance. Sustained higher volumes and improved gross and operating margins support resource allocation to working capital and capex, strengthening earnings quality over coming quarters.
Negative Factors
Elevated leverage
A materially elevated capital structure limits financial flexibility and increases interest burden sensitivity to slower cash flows. Even with improvement, leverage near 2.2x leaves the company exposed to cyclical downturns and constrains investment capacity until sustained deleveraging occurs.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound and restored profitability
A material revenue rebound and return to positive margins indicate structural recovery in demand and operational performance. Sustained higher volumes and improved gross and operating margins support resource allocation to working capital and capex, strengthening earnings quality over coming quarters.
Read all positive factors
Indo Rama Synthetics (India) Limited (INDORAMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹12.18B
Dividend YieldN/A
Average Volume (3M)41.68K
Price to Earnings (P/E)8.1
Beta (1Y)1.43
Revenue Growth23.77%
EPS GrowthN/A
CountryIN
Employees1,443
SectorBasic Materials
Sector Strength58
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)5.45
Shares Outstanding261,113,160
10 Day Avg. Volume32,696
30 Day Avg. Volume41,681
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.64
Price to Sales (P/S)0.17
P/FCF Ratio7.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Indo Rama Synthetics (India) Limited Business Overview & Revenue Model
Company Description
Indo Rama Synthetics (India) Limited, founded in 1986 and headquartered in Gurugram, India, specializes in the production and distribution of polyester materials. The company provides a diverse portfolio of polyester products, encompassing polyest...
How the Company Makes Money
INDORAMA makes money by manufacturing and selling polyester-based products, with revenue primarily generated from (1) sales of polyester fibers and yarns and (2) sales of polyester intermediates/chemicals.
1) Polyester fibers and yarns (core down...
Indo Rama Synthetics (India) Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
45
Neutral
Cash Flow
54
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 48.90B | 49.10B | 42.59B | 36.96B | 39.33B | 40.38B |
| Gross Profit | 10.65B | 11.43B | 9.03B | 3.95B | 493.60M | 5.08B |
| EBITDA | 3.07B | 3.28B | 1.79B | -327.10M | 662.00M | 3.02B |
| Net Income | 1.42B | 1.50B | 14.00M | -2.03B | -245.60M | 2.69B |
Balance Sheet | ||||||
| Total Assets | 29.71B | 32.44B | 29.36B | 29.07B | 27.13B | 21.05B |
| Cash, Cash Equivalents and Short-Term Investments | 82.90M | 6.77B | 300.40M | 293.70M | 614.00M | 123.20M |
| Total Debt | 10.94B | 11.40B | 11.36B | 13.39B | 8.90B | 3.58B |
| Total Liabilities | 25.26B | 27.25B | 25.67B | 25.39B | 21.40B | 15.06B |
| Stockholders Equity | 4.46B | 5.19B | 3.68B | 3.68B | 5.73B | 5.99B |
Cash Flow | ||||||
| Free Cash Flow | 814.70M | 1.10B | 3.52B | -3.57B | -4.46B | 1.20B |
| Operating Cash Flow | 914.60M | 1.34B | 3.91B | -967.30M | -809.90M | 2.00B |
| Investing Cash Flow | -53.30M | -140.50M | -363.40M | -2.58B | -3.48B | -754.40M |
| Financing Cash Flow | -1.06B | -1.27B | -3.54B | 3.22B | 4.79B | -1.23B |
Indo Rama Synthetics (India) Limited Technical Analysis
Positive
48.39
Price Trends
39.66
Positive
38.18
Positive
46.27
Negative
Market Momentum
2.03
Negative
59.37
Neutral
40.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDORAMA, the sentiment is Positive. The current price of 48.39 is above the 20-day moving average (MA) of 42.81, above the 50-day MA of 39.66, and above the 200-day MA of 46.27, indicating a neutral trend. The MACD of 2.03 indicates Negative momentum. The RSI at 59.37 is Neutral, neither overbought nor oversold. The STOCH value of 40.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:INDORAMA.
Indo Rama Synthetics (India) Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹3.76B | 10.18 | ― | ― | -1.36% | 784.46% | |
75 Outperform | ₹11.05B | 10.98 | ― | 2.28% | -14.80% | 51.70% | |
70 Outperform | ₹6.05B | 8.52 | ― | ― | 62.55% | 97.67% | |
69 Neutral | ₹24.20B | 13.24 | ― | 0.49% | -2.15% | 36.80% | |
62 Neutral | ₹12.18B | 8.09 | ― | ― | 23.77% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | ₹9.21B | 17.70 | ― | ― | -5.63% | ― |
* Basic Materials Sector Average
IN:INDORAMA
Indo Rama Synthetics (India) Limited
46.00
0.23
0.50%
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527.30
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8.45%
IN:FILATEX
Filatex India Ltd
54.88
2.28
4.33%
IN:GINNIFILA
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43.98
-4.31
-8.93%
IN:PASUPTAC
Pasupati Acrylon Limited
69.16
19.94
40.51%
IN:RSWM
RSWM Ltd
192.70
24.70
14.70%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.