About
Indo National Limited manufactures and distributes dry cell batteries, rechargeable batteries, flashlights, and general lighting products in India. It offers alkaline and zinc batteries; battery operated and rechargeable torches; LED lighting, including battens, spotlight, down and panel light, rechargeable bulbs, and regular bulbs. The company also provides spike guards and flex boxes; mosquito swatters, and liquid vaporizer; electrical products; other FMCG products; and razors and blades under DORCO brand. 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.
Key Metrics
as of Sep 2026Market Cap246 Cr
P/E—
Div Yield1.13 %
Book Value₹403.00
52w High₹497.00
52w Low₹255.00
Face Value₹5.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 116.14 | 107.12 | 106.31 | 119.60 | 119.44 | 97.11 | 121.63 | 127.57 | 121.15 | 168.93 | 168.32 | 171.50 | 131.85 |
| Expenses | 116.02 | 125.23 | 113.13 | 115.64 | 116.65 | 99.05 | 132.79 | 126.68 | 131.21 | 151.28 | 155.09 | 163.81 | 129.72 |
| Operating Profit | 0.12 | -18.11 | -6.82 | 3.96 | 2.79 | -1.94 | -11.16 | 0.89 | -10.06 | 17.65 | 13.23 | 7.69 | 2.13 |
| OPM % | 0.10 | -16.91 | -6.42 | 3.31 | 2.34 | -2.00 | -9.18 | 0.70 | -8.30 | 10.45 | 7.86 | 4.48 | 1.62 |
| Other Income | 0.90 | 1.56 | 2.32 | 1.56 | 2.20 | 3.20 | 1.77 | 3.36 | 181.65 | 2.61 | 2.75 | 2.61 | 2.14 |
| Depreciation | 3.36 | 3.31 | 3.32 | 3.30 | 3.21 | 2.94 | 2.90 | 2.86 | 4.53 | 4.66 | 4.49 | 4.38 | 4.11 |
| Interest | 0.88 | 0.63 | 0.64 | 0.72 | 0.60 | 0.96 | 0.10 | -0.49 | 2.61 | 3.28 | 3.37 | 3.78 | 3.32 |
| Profit before tax | -3.22 | -20.49 | -8.46 | 1.50 | 1.18 | -2.64 | -12.39 | 1.88 | 164.45 | 12.32 | 8.12 | 2.14 | -3.16 |
| Tax % | -162.42 | 2.49 | -7.21 | 27.33 | 10.17 | -103.41 | -2.58 | -15.43 | 19.87 | 26.22 | 27.96 | -41.59 | 5.38 |
| Net Profit | 2.01 | -21.00 | -7.85 | 1.13 | 1.02 | 0.08 | -12.07 | 2.17 | 131.77 | 9.08 | 5.84 | 3.04 | -3.33 |
| EPS in Rs | 2.85 | -27.88 | -10.45 | 1.84 | 1.36 | 0.11 | -16.09 | 2.89 | 178.12 | 3.20 | 4.59 | 5.73 | -0.71 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 452.00 | 467.00 | 641.00 | 572.00 | 570.00 | 532.00 | 508.00 | 443.00 | 394.00 | 377.00 | 361.00 |
| Expenses | 471.00 | 490.00 | 600.00 | 557.00 | 544.00 | 475.00 | 447.00 | 402.00 | 352.00 | 346.00 | 337.00 |
| Operating Profit | -18.00 | -22.00 | 41.00 | 15.00 | 26.00 | 57.00 | 61.00 | 41.00 | 42.00 | 31.00 | 24.00 |
| OPM % | -4.00 | -4.80 | 6.00 | 2.60 | 4.60 | 11.00 | 12.00 | 9.00 | 11.00 | 8.00 | 7.00 |
| Other Income | 8.00 | 190.00 | 10.00 | 5.00 | 19.00 | 18.00 | -13.00 | 17.00 | 15.00 | 15.00 | 18.00 |
| Interest | 3.00 | 3.00 | 14.00 | 11.00 | 11.00 | 13.00 | 17.00 | 12.00 | 5.00 | 5.00 | 6.00 |
| Depreciation | 13.00 | 13.00 | 18.00 | 17.00 | 13.00 | 13.00 | 12.00 | 11.00 | 9.00 | 8.00 | 8.00 |
| Profit before tax | -26.00 | 151.00 | 19.00 | -8.00 | 21.00 | 50.00 | 18.00 | 35.00 | 43.00 | 33.00 | 28.00 |
| Tax % | 2.00 | 19.00 | 25.00 | 0.00 | 36.00 | 35.00 | 43.00 | 25.00 | 29.00 | 36.00 | 53.00 |
| Net Profit | -27.00 | 122.00 | 15.00 | -8.00 | 13.00 | 33.00 | 10.00 | 27.00 | 31.00 | 21.00 | 13.00 |
| EPS in Rs | -35.12 | 165.01 | 12.83 | -7.59 | 10.59 | 40.51 | 1.88 | 24.56 | 29.79 | 25.57 | 18.89 |
| Dividend Payout % | -11.00 | 3.00 | 39.00 | -66.00 | 47.00 | 31.00 | 133.00 | 41.00 | 34.00 | 49.00 | 66.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 |
| Reserves | 299.00 | 434.00 | 232.00 | 228.00 | 236.00 | 238.00 | 211.00 | 219.00 | 209.00 | 198.00 | 172.00 |
| Borrowings | 34.00 | 53.00 | 140.00 | 132.00 | 124.00 | 123.00 | 121.00 | 113.00 | 65.00 | 49.00 | 58.00 |
| Other Liabilities | 94.00 | 230.00 | 223.00 | 151.00 | 147.00 | 148.00 | 161.00 | 146.00 | 152.00 | 78.00 | 77.00 |
| Total Liabilities | 431.00 | 721.00 | 599.00 | 515.00 | 511.00 | 513.00 | 496.00 | 481.00 | 431.00 | 329.00 | 311.00 |
| Fixed Assets | 170.00 | 223.00 | 254.00 | 226.00 | 215.00 | 182.00 | 188.00 | 182.00 | 163.00 | 158.00 | 134.00 |
| CWIP | 6.00 | 4.00 | 2.00 | 4.00 | 2.00 | 1.00 | 1.00 | 5.00 | 14.00 | 2.00 | 1.00 |
| Investments | 61.00 | 96.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 193.00 | 398.00 | 343.00 | 284.00 | 294.00 | 330.00 | 307.00 | 295.00 | 254.00 | 169.00 | 177.00 |
| Total Assets | 431.00 | 721.00 | 599.00 | 515.00 | 511.00 | 513.00 | 496.00 | 481.00 | 431.00 | 329.00 | 311.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 40.00 | -56.00 | 44.00 | 36.00 | 35.00 | 11.00 | 10.00 | -19.00 | 38.00 | 44.00 | 37.00 |
| Cash from Investing Activity | 17.00 | 80.00 | -38.00 | -28.00 | -35.00 | 5.00 | 1.00 | -7.00 | -12.00 | -20.00 | -21.00 |
| Cash from Financing Activity | -58.00 | -19.00 | -9.00 | -9.00 | -20.00 | -10.00 | -9.00 | 29.00 | -18.00 | -30.00 | -11.00 |
| Net Cash Flow | -1.00 | 6.00 | -4.00 | -1.00 | -20.00 | 5.00 | 2.00 | 2.00 | 8.00 | -6.00 | 5.00 |
| Free Cash Flow | 14.00 | -97.00 | 0.00 | 6.00 | -10.00 | 1.00 | -4.00 | -40.00 | 11.00 | 11.00 | 16.00 |
| CFO/OP % | -226.00 | 90.00 | 116.00 | 270.00 | 160.00 | 37.00 | 27.00 | -15.00 | 118.00 | 182.00 | 188.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 47.00 | 70.00 | 76.00 | 80.00 | 61.00 | 103.00 | 83.00 | 113.00 | 116.00 | 82.00 | 81.00 |
| Inventory Days | 80.00 | 147.00 | 95.00 | 88.00 | 124.00 | 107.00 | 111.00 | 85.00 | 79.00 | 82.00 | 72.00 |
| Days Payable | 49.00 | 81.00 | 72.00 | 69.00 | 63.00 | 77.00 | 87.00 | 77.00 | 92.00 | 41.00 | 29.00 |
| Cash Conversion Cycle | 78.00 | 136.00 | 99.00 | 99.00 | 122.00 | 133.00 | 107.00 | 120.00 | 103.00 | 124.00 | 124.00 |
| Working Capital Days | 73.00 | 97.00 | 36.00 | 38.00 | 58.00 | 73.00 | 40.00 | 33.00 | 13.00 | 53.00 | 50.00 |
| ROCE % | -5.00 | 33.00 | 8.00 | 1.00 | 7.00 | 16.00 | 18.00 | 15.00 | 18.00 | 16.00 | — |
Corporate Actions
25 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 19 Sep 2025 | 19 Sep 2025 | — | 5.00 | |
| Dividend | 19 Sep 2024 | — | — | 5.00 | |
| Dividend | 20 Sep 2023 | — | — | 5.00 | |
| Dividend | 19 Sep 2022 | — | — | 5.00 | |
| Split | 28 Oct 2021 | 29 Oct 2021 | 10:5 | — | |
| Dividend | 21 Sep 2021 | — | — | 25.00 | |
| Dividend | 18 Sep 2020 | — | — | 5.00 | |
| Dividend | 13 Sep 2019 | — | — | 20.00 | |
| Dividend | 14 Sep 2018 | — | — | 20.00 | |
| Dividend | 15 Sep 2017 | — | — | 25.00 | |
| Dividend | 15 Sep 2016 | — | — | 25.00 | |
| Dividend | 15 Sep 2015 | — | — | 25.00 | |
| Dividend | 17 Sep 2014 | — | — | 20.00 | |
| Dividend | 18 Sep 2013 | — | — | 10.00 | |
| Dividend | 20 Jul 2012 | — | — | 10.00 | |
| Dividend | 14 Jul 2011 | — | — | 20.00 | |
| Dividend | 15 Jul 2010 | — | — | 20.00 | |
| Dividend | 03 Sep 2009 | — | — | 20.00 | |
| Other | 03 Sep 2009 | — | — | — | Dividend-Rs.20/- Pr Share |
| Dividend | 06 Jun 2008 | — | — | 20.00 | NSE/BSE dividend mismatch: NSE=10.0; BSE=20.0 |
| Dividend | 06 Jun 2008 | — | — | 10.00 | NSE/BSE dividend mismatch: NSE=10.0; BSE=20.0 |
| Dividend | 04 Jun 2007 | — | — | 6.25 | |
| Dividend | 02 Jun 2006 | — | — | 10.00 | |
| Dividend | 03 Jun 2005 | — | — | 10.00 | |
| Dividend | 02 Jul 2001 | — | — | 10.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update14 Sep 2023 from crisil
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Rating update10 Jul 2023 from crisil
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Rating update30 Jun 2023 from crisil
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Rating update25 Apr 2023 from crisil
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Rating update20 Dec 2022 from crisil
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Rating update27 Jan 2022 from crisil