Indo National Limited (NIPPOBATRY) AI Stock Analysis

• Market Cap: ₹3.25B
• Dividend Yield: 1.16%
• Average Volume (3M): 394.00
• Price to Earnings (P/E): ―
• Beta (1Y): 1.14
• Revenue Growth: -21.88%
• EPS Growth: -106.76%
• Country: IN
• Employees: 1,315
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Electrical Equipment & Parts
• EPS (TTM): 1.85
• Shares Outstanding: 7,500,000
• 10 Day Avg. Volume: 246
• 30 Day Avg. Volume: 394
• PEG Ratio: <0.01
• Price to Book (P/B): 0.75
• Price to Sales (P/S): 0.71
• P/FCF Ratio: -3.39
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: ₹404.00 ▼(-6.37% Downside)

Indo National Limited's stock score is primarily impacted by its financial performance and technical analysis. The company faces profitability and cash flow challenges, and the stock is in a bearish trend. Valuation metrics further indicate unattractiveness, with a negative P/E ratio and low dividend yield.

Positive Factors

Market Position

Being a leading player in the Indian battery market, Indo National Limited benefits from brand recognition and established distribution networks, supporting long-term market presence and competitive positioning.

Revenue Diversification

Collaborations with electronics manufacturers diversify revenue streams, reducing dependency on a single market and enhancing resilience against market fluctuations.

Brand and Innovation

A focus on quality and innovation strengthens Indo National's competitive edge, fostering customer loyalty and supporting sustainable long-term growth.

Negative Factors

Revenue Growth Decline

The decline in revenue growth indicates potential challenges in market demand or competitive pressures, which could affect long-term financial stability if not addressed.

Cash Flow Issues

Inconsistent cash flow and negative free cash flow suggest potential liquidity challenges, which may hinder the company's ability to fund operations and growth initiatives sustainably.

Profitability Challenges

Negative EBIT and low net profit margins highlight operational inefficiencies, which could undermine profitability and limit reinvestment capacity for future growth.

Indo National Limited Business Overview & Revenue Model

Company Description

Indo National Limited, operating under the brand NIPPOBATRY, is a prominent player in the Indian manufacturing sector, primarily focused on the production of batteries. The company specializes in a wide range of battery products, including lead-acid batteries for automotive and industrial applications, as well as specialized batteries for renewable energy solutions. With a commitment to quality and innovation, Indo National Limited serves both domestic and international markets, catering to various sectors such as automotive, telecommunications, and renewable energy.

How the Company Makes Money

Indo National Limited generates revenue through multiple streams, primarily from the sale of its battery products. The company has established a strong distribution network that allows it to reach a broad customer base, which includes both retail and wholesale channels. Key revenue streams include the sale of automotive batteries, industrial batteries, and specialized batteries for solar applications. Additionally, Indo National Limited may engage in strategic partnerships with automotive manufacturers and renewable energy companies, further enhancing its market presence and revenue potential. The company's focus on quality and customer service also fosters brand loyalty, contributing to repeat business and long-term contracts, which are significant contributors to its earnings.

Indo National Limited Financial Statement Overview

Summary

Indo National Limited shows a mixed financial performance with volatile revenue growth and profitability challenges. The balance sheet is moderately stable, but cash flow issues indicate potential liquidity problems.

Income Statement

Indo National Limited has shown volatile revenue growth with a recent decline from the prior year. While the gross profit margin remains reasonable, the company struggled with negative EBIT and low net profit margins, indicating operational inefficiencies and profitability challenges.

Balance Sheet

The company's balance sheet displays moderate stability, with a manageable debt-to-equity ratio. However, the equity ratio is relatively strong, suggesting resilience. The overall financial leverage appears to be under control, but improvements in asset utilization are needed.

Cash Flow

Cash flow from operations has been inconsistent, with recent periods showing negative free cash flow. This indicates potential liquidity issues. The cash flow metrics suggest the company may face challenges in sustaining operations and growth without external funding.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.66B	4.67B	6.41B	5.72B	5.70B	5.32B
Gross Profit	1.73B	1.76B	2.58B	1.97B	2.15B	2.22B
EBITDA	-22.52M	1.68B	489.23M	200.91M	448.59M	751.54M
Net Income	-87.98M	1.24B	96.19M	-56.93M	79.44M	303.77M
Balance Sheet
Total Assets	0.00	7.21B	5.99B	5.15B	5.11B	5.13B
Cash, Cash Equivalents and Short-Term Investments	484.95M	68.83M	9.45M	50.84M	61.70M	262.82M
Total Debt	0.00	539.15M	1.46B	1.37B	1.25B	1.23B
Total Liabilities	-4.71B	2.51B	3.26B	2.53B	2.36B	2.41B
Stockholders Equity	4.71B	4.38B	2.36B	2.31B	2.40B	2.42B
Cash Flow
Free Cash Flow	0.00	-974.11M	-11.71M	50.79M	-168.56M	4.25M
Operating Cash Flow	0.00	-557.56M	435.51M	359.47M	350.37M	108.19M
Investing Cash Flow	0.00	804.73M	-382.57M	-276.15M	-354.09M	46.70M
Financing Cash Flow	0.00	-187.79M	-94.33M	-94.18M	-197.40M	-103.60M

Indo National Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 431.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NIPPOBATRY, the sentiment is Neutral. The current price of 431.5 is above the 20-day moving average (MA) of 429.02, below the 50-day MA of 444.36, and below the 200-day MA of 462.21, indicating a neutral trend. The MACD of -7.17 indicates Negative momentum. The RSI at 49.45 is Neutral, neither overbought nor oversold. The STOCH value of 41.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:NIPPOBATRY.

Indo National Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KANPRPLA	63 Neutral	₹4.82B	24.78	―	0.44%	23.02%	―
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
ORIENTBELL	55 Neutral	₹4.31B	99.52	―	0.17%	-1.45%	849.26%
MIRCELECTR	48 Neutral	₹7.49B	-41.05	―	―	-30.79%	59.95%
NIPPOBATRY	40 Underperform	₹3.25B	-33.98	―	1.16%	-21.88%	-106.76%

Indo National Limited Corporate Events

Indo National Limited Reports Stable Financial Results for H1 2025

Indo National Limited announced its unaudited financial results for the quarter and half-year ending September 30, 2025. The company reported a total income of Rs. 24,226.93 lakhs for the half-year, with a profit of Rs. 430.27 lakhs. The board of directors approved these results, which were reviewed by the statutory auditors. This financial performance reflects the company’s stable position in the market, despite a slight decrease in revenue compared to the previous year, indicating resilience in its operations.

Indo National Limited Confirms Compliance with SEBI Regulations for Q3 2025

Indo National Limited has submitted a confirmation certificate to the National Stock Exchange of India and BSE Limited, as required by the SEBI (Depositories and Participants) Regulations, 2018. This certificate, provided by Cameo Corporate Services Limited, confirms the dematerialization of securities for the quarter ending September 30, 2025, ensuring compliance with regulatory requirements and maintaining transparency in its operations.

Indo National Limited Advances Amalgamation with Helios Strategic Systems

Indo National Limited has announced the service of notice to statutory regulators regarding a Scheme of Amalgamation with Helios Strategic Systems Limited. This move, sanctioned by the National Company Law Tribunal, involves notifying various authorities to ensure compliance and seek any representations within 30 days. The amalgamation is expected to impact the company’s operational structure and market positioning, potentially affecting stakeholders and enhancing its strategic capabilities.