āagmanLoginNot investment advice. Data and computed figures, for information only.
Inox India Ltd
₹2,025.00
−₹41.50 (−2.01%)
NSE · 15 Oct 2026, close
Market Cap
₹18,669 Cr
CMP
₹2,025.00
52-wk High / Low
₹2,340 / 1,068
P/E
72.6
P/B
16.7
Book Value
₹123.0
Div Yield
0.10%
ROCE
33.0%
ROE
26.1%
Face Value
₹2
D/E
0.07
Price+69.3% over 1Y
āagman read
Computed by āagmanPiotroski F-Score
3
/ 9
3 of 9 F-score tests passed
Graham Number
₹280
√(22.5 × EPS × book value per share)
ROIC
19.5%
vs 12.3% sector median
Cash flow to profit
0.45
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−187
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
24.2%
ROE × earnings retention ratio
ROE stability
2.4
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.14FII −0.27DII −0.05
Latest quarter vs the previous one
Cash-accrual divergence
7.7%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 33% vs the 2026 sector median of 19%)
+Price trades above its 200-day moving average (1.3x)
Watch-outs
−Piotroski F-Score of 3/9 is in the weak band (≤3)
Peer comparison
| Name | P/E | Mar Cap ₹ Cr | ROCE % | ROE % |
|---|
Quarterly results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 308 | 258 | 291 | 277 | 296 | 307 | 334 | 369 | 340 | 358 | 429 | 461 | 371 |
| Expenses | 237 | 199 | 224 | 223 | 226 | 243 | 265 | 288 | 263 | 280 | 335 | 366 | 295 |
| Operating Profit | 72 | 59 | 67 | 53 | 70 | 64 | 69 | 81 | 76 | 78 | 94 | 95 | 76 |
| OPM % | 23.4% | 22.9% | 23.0% | 19.1% | 23.6% | 20.8% | 20.7% | 22.0% | 22.4% | 21.8% | 21.9% | 20.6% | 20.5% |
| Other Income | 8 | 7 | 5 | 11 | 5 | 13 | 16 | 14 | 13 | 13 | −1 | 18 | 11 |
| Interest | 1 | 1 | 2 | 2 | 2 | 3 | 2 | 1 | 1 | 2 | 3 | 4 | 2 |
| Depreciation | 4 | 4 | 5 | 5 | 6 | 6 | 6 | 7 | 8 | 8 | 9 | 9 | 10 |
| Profit before tax | 76 | 60 | 64 | 58 | 68 | 69 | 76 | 86 | 81 | 81 | 80 | 100 | 76 |
| Net Profit | 57 | 46 | 49 | 44 | 53 | 49 | 58 | 66 | 61 | 61 | 61 | 75 | 58 |
| EPS (₹) | 6.29 | 5.10 | 5.35 | 4.86 | 5.80 | 5.45 | 6.43 | 7.22 | 6.73 | 6.70 | 6.69 | 8.29 | 6.40 |
Profit & Loss
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 650 | 649 | 594 | 783 | 966 | 1,133 | 1,306 | 1,587 | 1,618 |
| Expenses | 506 | 516 | 459 | 615 | 761 | 882 | 1,021 | 1,244 | 1,276 |
| Operating Profit | 144 | 133 | 135 | 168 | 205 | 252 | 285 | 343 | 342 |
| OPM % | 22.2% | 20.5% | 22.7% | 21.5% | 21.2% | 22.2% | 21.8% | 21.6% | 21.1% |
| Other Income | 28 | 48 | 15 | 21 | 19 | 30 | 48 | 42 | 41 |
| Interest | 27 | 26 | 7 | 2 | 4 | 6 | 9 | 9 | 10 |
| Depreciation | 9 | 12 | 12 | 12 | 14 | 18 | 25 | 34 | 36 |
| Profit before tax | 135 | 144 | 131 | 174 | 207 | 258 | 299 | 342 | 337 |
| Net Profit | 193 | 97 | 96 | 130 | 155 | 196 | 226 | 258 | 255 |
| EPS (₹) | 213.05 | 107.23 | 105.89 | 14.38 | 17.05 | 21.59 | 24.90 | 28.41 | 28.08 |
Balance Sheet
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 18 | 18 | 18 | 18 | 18 | — |
| Reserves | 201 | 270 | 362 | 484 | 531 | 631 | 856 | 1,099 | — |
| Borrowings | 284 | 145 | 68 | 55 | 9 | 16 | 43 | 81 | — |
| Other Liabilities | 231 | 205 | 248 | 340 | 589 | 558 | 737 | 813 | — |
| Total Liabilities | 725 | 629 | 687 | 897 | 1,148 | 1,223 | 1,654 | 2,012 | — |
| Fixed Assets | 94 | 110 | 102 | 134 | 164 | 255 | 359 | 428 | — |
| CWIP | 0 | 0 | 2 | 2 | 0 | 5 | 4 | 4 | — |
| Investments | 81 | 80 | 25 | 312 | 249 | 247 | 267 | 297 | — |
| Other Assets | 549 | 439 | 558 | 449 | 734 | 716 | 1,023 | 1,282 | — |
| Total Assets | 725 | 629 | 687 | 897 | 1,148 | 1,223 | 1,654 | 2,012 | — |
Cash Flows
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 85 | 188 | 231 | 97 | 177 | 122 | 122 | 117 |
| Cash from Investing Activity | 136 | −28 | −152 | −72 | −13 | −26 | −141 | −110 |
| Cash from Financing Activity | −186 | −168 | −96 | −26 | −154 | −103 | 17 | 5 |
| Net Cash Flow | 36 | −8 | −17 | −1 | 10 | −6 | −1 | 13 |
Ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| ROCE % | — | 30.0 | 32.0 | 35.0 | 37.0 | 43.0 | 38.0 | 33.0 |
| ROE % | — | — | — | — | — | — | — | 26.1 |
| EPS (₹) | 213.05 | 107.23 | 105.89 | 14.38 | 17.05 | 21.59 | 24.90 | 28.41 |
| Book Value (₹) | — | — | — | — | — | — | — | 123.0 |
| Face Value (₹) | — | — | — | — | — | — | — | 2 |
| P/E | — | — | — | — | — | — | — | 72.6 |
| Div Yield % | — | — | — | — | — | — | — | 0.10 |
| NPM % | 28.5 | 13.9 | 15.8 | 16.2 | 15.7 | 16.9 | 16.7 | 15.8 |
| OPM % | 22.0 | 20.0 | 23.0 | 21.0 | 21.0 | 22.0 | 22.0 | 22.0 |
| D/E | 1.35 | 0.52 | 0.18 | 0.11 | 0.02 | 0.02 | 0.05 | 0.07 |
| P/B | — | — | — | — | — | — | — | 16.7 |
Growth
Compounded sales growth
5 years+22.0%
3 years+18.0%
TTM+20.0%
Compounded profit growth
5 years+22.0%
3 years+19.0%
TTM+12.0%
Stock price CAGR
Last year+72.0%
Return on equity
5 years29.0%
3 years29.0%
Last year26.0%
Documents
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Intimation Of Cancellation Of Scheduled Investor / Analyst Meet.Closure of Trading WindowAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationCorporate actions
9 Jun 2026DIVIDENDDividend - Rs 2 Per Share—
4 Jun 2025DIVIDENDDividend - Rs 2 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman