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Indo National Ltd logo

Indo National Ltd

NSE: NIPPOBATRY BSE: 504058

372.60

(-0.09)%

Mon, 02 Feb 2026, 01:44 am

Analysis

dividend

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Pros

  • Dividends paid are well covered by earnings (3.4x coverage).
  • Indo National's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.76%).
  • Indo National's dividend is above the markets top 25% of dividend payers in India (3.08%).
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Cons

  • No dividend growth in 10 years.
  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

health

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Pros

  • Indo National is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Indo National is profitable, therefore cash runway is not a concern.
  • Indo National is profitable, therefore cash runway is not a concern.
  • Debt is covered by short term assets, assets are 2.8x debt.
  • Indo National's cash and other short term assets cover its long term commitments.
  • Indo National earns more interest than it pays, coverage of interest payments is not a concern.
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Cons

  • Operating cash flow is negative therefore debt is not well covered.
  • The level of debt compared to net worth has increased over the past 5 years (5.1% vs 40.8% today).
  • Indo National's level of debt (40.8%) compared to net worth is high (greater than 40%).
  • High level of physical assets or inventory.

management

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Pros

  • The tenure for the Indo National board of directors is about average.
  • P.'s compensation has been consistent with company performance over the past year, both up more than 20%.
  • The tenure for the Indo National management team is about average.
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Cons

  • P.'s remuneration is higher than average for companies of similar size in India.

misc

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Pros

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    Cons

    • Indo National is not covered by any analysts.

    past

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    Pros

    • Indo National's 1-year earnings growth exceeds its 5-year average (33% vs -4.4%)
    • Indo National has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
    • Indo National's earnings growth has exceeded the IN Electrical industry average in the past year (33% vs 11.7%).
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    Cons

    • Indo National's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
    • Indo National used its assets less efficiently than the IN Electrical industry average last year based on Return on Assets.
    • Indo National has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).

    value

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    Pros

    • Indo National is good value based on earnings compared to the IN Electrical industry average.
    • Indo National is good value based on earnings compared to the India market.
    • NIPPOBATRY outperformed the Electrical industry which returned -33.5% over the past year.
    • NIPPOBATRY outperformed the Market in India which returned -14.5% over the past year.
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    Cons

    • Indo National's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).
    • Indo National's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).
    • Indo National is overvalued based on assets compared to the IN Electrical industry average.
    • NSEI:NIPPOBATRY is up 6% underperforming the Electrical industry which returned 9.3% over the past month.
    • NSEI:NIPPOBATRY is up 6% underperforming the market in India which returned 8% over the past month.

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    Pocketful Fintech Capital Private Limited (CIN U65999DL2021PTC390548) | The SEBI Registration No. allotted to us is INZ000313732. NSE Member Code: 90326 | BSE Member Code: 6808 | MCX Member Code: 57120 DP | CDSL: 12099800