Indo-National share price & results
- Jun 2026
- Jun 2026
Indian manufacturer of NIPPO-brand zinc-carbon dry-cell batteries and traded consumer electricals, with a majority-owned composites subsidiary (Kineco) serving railways, aerospace and defence.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 116 | −3.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 0.3 | −2.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 2.3 | +114.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | -6.94 | −44.1 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 3.10 | +23.9 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | -3.56 | +23.9 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −32.9% 1Y
1Y: ₹451.75 on 24 Oct 2025 → ₹302.95. High ₹453.1 (27 Oct 2025), low ₹259.25 (30 Mar 2026).
- Previous close
- ₹304.55
- Market cap
- ₹231 Cr
- 52-week range
- ₹259.25 – ₹453.1
- One year
- −33.14%
- Return on equity (TTM to Jun 2026)
- -6.94%
Overview
- Symbol
- NSE:NIPPOBATRY
- Exchange
- NSE
- Currency
- INR
What Indo-National Limited does
Based on the company's own presentations, annual report and earnings calls.
Indo-National Limited manufactures zinc-carbon dry-cell batteries under the NIPPO brand at its factory in Tada, Nellore District (Andhra Pradesh), and sells them through an extensive distributor and outlet network across India. It also markets a wider basket of traded (outsourced/asset-light) consumer products — flashlights, LED lighting, mosquito bats and electrical accessories — and distributes DORCO-brand razors and blades in India under an exclusive tie-up with DORCO Ltd., South Korea. Through its 51%-owned subsidiary Kineco Ltd. (which in turn holds 51% of Kineco Kaman Composites India, a JV with Kaman Aerospace Group, USA), the group also manufactures advanced composite products for railways, aerospace, defence, industrial and telecom customers.
Segments
- Battery
- Traded Products
- Kineco Group
- Dry-cell battery manufacturing capacity
- 800 million pieces/annum
- Manufacturing facility area
- 2.2 lakh sq. ft across 56 acres (Tada, Nellore, AP)
- Captive solar power plant
- 4.6 MW (Polepally village, Telangana)
- Distributor network
- ~3,200
- Outlets serviced directly by company network
- ~5.6 lakh
- Total retail touchpoints selling NIPPO products
- ~2.6 million
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +114% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 128 | 122 | 97 | 119 | 119 | 106 | 106 | 116 |
| Expenses | 126 | 120 | 98 | 117 | 114 | 111 | 124 | 115 |
| Operating profit | 1 | 2 | -1 | 3 | 6 | -5 | -18 | 0 |
| Operating margin | 1.0% | 1.2% | −1.4% | 2.3% | 4.6% | −4.9% | −16.8% | 0.3% |
| Other income | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 1 |
| Interest | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Profit before tax | 2 | 0 | -2 | 1 | 3 | -7 | -20 | -3 |
| Tax rate | −17.0% | −128.6% | 30.9% | 10.2% | 13.3% | −8.4% | 2.5% | −177.9% |
| Net profit | 2 | 1 | -3 | 1 | 3 | -7 | -21 | 2 |
| EPS (₹ per share) | 2.67 | 0.84 | -3.51 | 1.43 | 3.57 | -8.83 | -27.61 | 3.05 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 572 | 466 | 458 | 451 |
| Expenses | 558 | 451 | 453 | 466 |
| Operating profit | 15 | 15 | 5 | -15 |
| Other income | 5 | 6 | 9 | 7 |
| Interest | 11 | 4 | 1 | 3 |
| Depreciation | 17 | 9 | 11 | 13 |
| Profit before tax | -8 | 8 | 1 | -23 |
| Net profit | -9 | 7 | 1 | -24 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 225 | 223 | 225 | 222 | 394 | 208 |
| Borrowings | 38 | 21 | 17 | 187 | 41 | 201 |
| Other liabilities | 69 | 72 | 92 | 74 | 130 | 76 |
| Total liabilities | 335 | 319 | 338 | 487 | 569 | 490 |
| Fixed assets | 112 | 117 | 131 | 151 | 156 | 163 |
| Capital work in progress | 0 | 1 | 0 | 1 | 4 | 3 |
| Investments | 47 | 73 | 78 | 166 | 154 | 138 |
| Other assets | 177 | 129 | 128 | 169 | 255 | 187 |
| Total assets | 335 | 319 | 338 | 487 | 569 | 490 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -9 | 19 | 44 | 29 | -53 | 4 |
| Cash from investing | 14 | -32 | -18 | -17 | -113 | -7 |
| Cash from financing | -8 | -2 | -26 | -11 | 166 | 8 |
| Net cash flow | -3 | -16 | 0 | 0 | 0 | 5 |
| Free cash flow | -12 | -27 | 28 | 7 | -86 | -22 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 83 | 32 | 31 | 34 | 38 | 47 |
| Inventory days | 103 | 145 | 81 | 73 | 88 | 79 |
| Days payable | 54 | 43 | 36 | 35 | 35 | 35 |
| Cash conversion cycle | 131 | 134 | 75 | 73 | 91 | 91 |
| Working capital days | 106 | 81 | 54 | 35 | -53 | -57 |
| Return on capital employed | 20.0% | 5.0% | 1.0% | 5.0% | −1.0% | −6.0% |
| Dividend payout | 28.0% | 48.0% | 375.0% | 56.0% | 371.0% | −11.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Consumer Goods contributes 99.7% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
- Consumer Goods 99.7%
₹115.85 crore
- Airpurifier 0.3%
₹0.29 crore
- Investments 0.0%
₹0.00 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Consumer Goods | 115.85 | 99.7% |
| Airpurifier | 0.29 | 0.3% |
| Investments | 0.00 | 0.0% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹116.14 crore
- Intersegment adjustment
- ₹0.00 crore
- Net segment revenue
- ₹116.14 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Each segment’s share of reported revenue, quarter by quarter.
| Segment | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Consumer Goods | — | — | — | — | 100% | — | — | 100% | -3.0% |
| Airpurifier | — | — | — | — | — | — | — | <1% | — |
| Investments | — | — | — | — | — | — | — | 0% | — |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
Ownership
Who owns it
Promoters hold 65.35% as of Jun 2026; institutions added 0.00 pts since Mar 2026.
- Promoters 65.35%
- Foreign institutions 0.00%
- Domestic institutions 0.00%
- Government 0.00%
- Public 34.65%
Who is on the register
Named in the Jun 2026 filing
Every holder of Indo-National Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| 44.10% | unchanged | |
| 4.43% | unchanged | |
| 4.37% | unchanged | |
| 4.24% | unchanged | |
| 3.89% | unchanged | |
| 1.84% | unchanged | |
| 1.83% | unchanged | |
| 1.59% | unchanged | |
| 1.14% | unchanged | |
| 0.57% | unchanged | |
| 0.14% | unchanged | |
| 0.07% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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