Indo Rama Synthetics (India) Limited (IN:INDORAMA)
:INDORAMA
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Indo Rama Synthetics (India) Limited
(INDORAMA)
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Rating:48Neutral
Price Target:
₹38.00
▼(-21.47% Downside)
Action:ReiteratedDate:04/02/26
The score is held back mainly by weak profitability and high leverage despite improving revenue and a return to positive free cash flow. Technical indicators also point to a continuing downtrend. A high P/E and lack of dividend yield further limit the valuation appeal.
Positive Factors
Revenue Growth
A 15.23% revenue recovery signals improving demand for polyester products and better plant utilization. Sustained top-line expansion supports fixed-cost absorption, incremental operating leverage and potential margin normalization over the next several quarters if volume trends persist.
Negative Factors
Very Thin Net Margins
Extremely low net margins and modest EBITDA imply minimal cushion against rising raw material or energy costs common in petrochemical cycles. Such thin profitability constrains retained earnings, limits reinvestment capacity and makes earnings sensitive to small adverse swings.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
A 15.23% revenue recovery signals improving demand for polyester products and better plant utilization. Sustained top-line expansion supports fixed-cost absorption, incremental operating leverage and potential margin normalization over the next several quarters if volume trends persist.
Read all positive factors
Indo Rama Synthetics (India) Limited (INDORAMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹10.07B
Dividend YieldN/A
Average Volume (3M)41.68K
Price to Earnings (P/E)36.1
Beta (1Y)1.45
Revenue Growth23.77%
EPS GrowthN/A
CountryIN
Employees1,443
SectorBasic Materials
Sector Strength58
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)0.34
Shares Outstanding261,113,160
10 Day Avg. Volume32,696
30 Day Avg. Volume41,681
Financial Highlights & Ratios
PEG Ratio-6.90
Price to Book (P/B)2.64
Price to Sales (P/S)0.23
P/FCF Ratio2.76
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 manufactures and supplies polyester in India. The company offers various polyester products, including polyester staple fiber, polyester filament yarn, draw texturized yarn, fully drawn yarn, and polyester chip...
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
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 48.90B | 42.59B | 36.96B | 39.33B | 40.38B | 20.43B |
| Gross Profit | 10.65B | 9.03B | 3.95B | 493.60M | 5.08B | 5.84B |
| EBITDA | 3.07B | 1.79B | -327.10M | 662.00M | 3.02B | 1.03B |
| Net Income | 1.42B | 14.00M | -2.03B | -245.60M | 2.69B | 1.13B |
Balance Sheet | ||||||
| Total Assets | 29.71B | 29.36B | 29.07B | 27.13B | 21.05B | 17.11B |
| Cash, Cash Equivalents and Short-Term Investments | 82.90M | 300.40M | 293.70M | 614.00M | 123.20M | 93.80M |
| Total Debt | 10.94B | 11.36B | 13.39B | 8.90B | 3.58B | 3.95B |
| Total Liabilities | 25.26B | 25.67B | 25.39B | 21.40B | 15.06B | 13.78B |
| Stockholders Equity | 4.46B | 3.68B | 3.68B | 5.73B | 5.99B | 3.33B |
Cash Flow | ||||||
| Free Cash Flow | 814.70M | 3.52B | -3.57B | -4.46B | 1.20B | 1.56B |
| Operating Cash Flow | 914.60M | 3.91B | -967.30M | -809.90M | 2.00B | 1.82B |
| Investing Cash Flow | -53.30M | -363.40M | -2.58B | -3.48B | -754.40M | -175.00M |
| Financing Cash Flow | -1.06B | -3.54B | 3.22B | 4.79B | -1.23B | -1.74B |
Indo Rama Synthetics (India) Limited Technical Analysis
Positive
48.39
Price Trends
35.76
Positive
41.40
Negative
48.45
Negative
Market Momentum
0.95
Negative
68.53
Neutral
92.01
Negative
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 33.84, above the 50-day MA of 35.76, and below the 200-day MA of 48.45, indicating a neutral trend. The MACD of 0.95 indicates Negative momentum. The RSI at 68.53 is Neutral, neither overbought nor oversold. The STOCH value of 92.01 is Negative, 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹9.27B | 10.15 | ― | 2.28% | -17.79% | -14.73% | |
67 Neutral | ₹20.25B | 9.87 | ― | 0.49% | 1.36% | 44.40% | |
62 Neutral | ₹4.44B | 4.61 | ― | ― | 48.26% | 49.95% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | ₹7.76B | 73.65 | ― | ― | -1.53% | ― | |
57 Neutral | ₹3.58B | 9.81 | ― | ― | 3.80% | ― | |
48 Neutral | ₹10.07B | 36.11 | ― | ― | 23.77% | ― |
* Basic Materials Sector Average
IN:INDORAMA
Indo Rama Synthetics (India) Limited
38.55
3.88
11.19%
IN:CENTENKA
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424.05
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-16.82%
IN:FILATEX
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45.60
2.55
5.92%
IN:GINNIFILA
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41.77
18.02
75.87%
IN:PASUPTAC
Pasupati Acrylon Limited
49.84
5.32
11.95%
IN:RSWM
RSWM Ltd
164.80
19.75
13.62%
Indo Rama Synthetics (India) Limited Corporate Events
Indo Rama Synthetics Clears Q3 Results and Reshapes Board, Audit Committee
Jan 31, 2026
Indo Rama Synthetics (India) Limited’s board met on 31 January 2026 and approved the unaudited standalone and consolidated financial results for the third quarter and nine months ended 31 December 2025, along with noting unmodified limited r...
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.