Indo National Limited (NIPPOBATRY) AI Stock Analysis

• Market Cap: ₹3.38B
• Dividend Yield: 1.08%
• Average Volume (3M): 913.00
• Price to Earnings (P/E): 2.8
• Beta (1Y): 1.03
• Revenue Growth: -26.06%
• EPS Growth: -106.12%
• Country: IN
• Employees: 1,315
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Electrical Equipment & Parts
• EPS (TTM): 1.37
• Shares Outstanding: 7,500,000
• 10 Day Avg. Volume: 469
• 30 Day Avg. Volume: 913
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: ₹464.00
• Price Target Upside: 2.88% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 46 Neutral
• Price Target: ₹464.00 ▲(2.88% Upside)

Indo National Limited's overall stock score is primarily impacted by its financial performance, which shows profitability and cash flow challenges. Technical analysis provides a neutral outlook, while valuation concerns due to a negative P/E ratio further weigh down the score.

Indo National Limited Business Overview & Revenue Model

Company Description

Indo National Limited, together with its subsidiaries, manufactures and distributes dry cell batteries and lighting products in India. It offers AA, AAA, C&D, alkaline, and 9V batteries; torches; and emergency power backup products, as well as mosquito bats. The company also provides square LED downlights, rechargeable bulb, pulsar linear, head lamp, LED tubelights, LED bulbs, LED flood lights, and grid-based LED street lights. In addition, it offers razors and blades under DORCO brand, electrical accessories, and other FMCG products. The company was formerly known as Nippo Batteries Co. Ltd. and changed its name to Indo National Limited in April 2013. Indo National Limited was incorporated in 1972 and is headquartered in Chennai, India.

How the Company Makes Money

Indo National Limited generates revenue primarily through the sale of its battery products. The company's key revenue streams include domestic sales within India and international exports. Indo National Limited partners with distributors and retailers to ensure a broad market reach, allowing consumers easy access to their products. Additionally, the company invests in marketing and brand-building activities to reinforce its position in the market. Revenue is also bolstered by collaborations with other electronics manufacturers, who use Indo National's batteries in their products, creating a diversified income base. The company's focus on quality and innovation helps maintain a competitive edge, contributing to consistent earnings.

Indo National Limited Financial Statement Overview

Summary

Indo National Limited presents a mixed financial picture. The company has a stable equity position but faces challenges with profitability and cash flow management. Efforts to enhance operational efficiency and cash generation are critical for future sustainability and growth.

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	4.67B	4.67B	6.41B	5.72B	5.70B	5.32B
Gross Profit	1.76B	1.76B	2.58B	1.97B	2.15B	2.22B
EBITDA	1.64B	1.68B	508.10M	200.91M	448.59M	751.54M
Net Income	1.24B	1.24B	96.19M	-56.93M	79.44M	303.77M
Balance Sheet
Total Assets	7.21B	7.21B	5.99B	5.15B	5.11B	5.13B
Cash, Cash Equivalents and Short-Term Investments	763.51M	763.51M	9.45M	50.84M	61.70M	262.82M
Total Debt	539.15M	539.15M	1.46B	1.37B	1.25B	1.23B
Total Liabilities	2.51B	2.51B	3.26B	2.53B	2.36B	2.41B
Stockholders Equity	4.38B	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: Negative
• Last Price: 451.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• 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 Negative. The current price of 451 is below the 20-day moving average (MA) of 472.64, below the 50-day MA of 467.96, and below the 200-day MA of 482.70, indicating a bearish trend. The MACD of -2.14 indicates Positive momentum. The RSI at 37.14 is Neutral, neither overbought nor oversold. The STOCH value of 23.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NIPPOBATRY.

Indo National Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ORIENTBELL	64 Neutral	₹4.35B	100.64	0.90%	0.17%	-2.06%	958.57%
KANPRPLA	58 Neutral	₹4.90B	25.22	5.40%	0.42%	27.70%	―
MIRCELECTR	54 Neutral	₹6.84B	-37.46	-1.83%	―	-34.83%	70.84%
NIPPOBATRY	46 Neutral	₹3.38B	2.83	―	1.08%	-26.06%	-106.12%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%

Indo National Limited Corporate Events

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.