Indian Toners & Developers Ltd

₹ 44.8 -0.40%

13 Nov - close price

indiantoners.com/in BSE: 523586 NSE: INDTONER

About

Incorporated in 1990, Indian Toners
& Developers Ltd manufactures
Compatible Toners^[1]

Key Points

Business Overview:^[1]^[2]^[3]
The company manufactures compatible toners for photocopiers, laser printers, digital machines and multi-function printers, catering to the domestic and international replacement markets under the Supremo brand.

Website BSE NSE

Market Cap ₹ 233 Cr.
Current Price ₹ 44.8
High / Low ₹ 62.0 / 43.0
Stock P/E 8.98
Book Value ₹ 47.0
Dividend Yield 2.68 %
ROCE 16.2 %
ROE 12.6 %
Face Value ₹ 2.00

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Pros

Company is almost debt free.
Stock is trading at 0.95 times its book value
Company has been maintaining a healthy dividend payout of 20.8%

Cons

Company has a low return on equity of 12.2% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	39.80	37.08	42.79	35.32	37.68	39.29	40.70	39.10	38.85	42.11	45.74	36.21	41.12
YoY Sales growth	+3.97%	-6.55%	-0.51%	-4.72%	-5.33%	+5.96%	-4.88%	+10.70%	+3.11%	+7.18%	+12.38%	-7.39%	+5.84%
	31.22	29.11	33.77	27.52	29.86	30.61	31.98	30.45	31.57	33.41	35.55	29.36	33.57
Operating Profit	8.58	7.97	9.02	7.80	7.82	8.68	8.72	8.65	7.28	8.70	10.19	6.85	7.55
OPM %	21.56%	21.49%	21.08%	22.08%	20.75%	22.09%	21.43%	22.12%	18.74%	20.66%	22.28%	18.92%	18.36%
	1.12	1.38	1.94	1.37	1.88	1.31	1.55	1.58	1.24	1.15	1.35	2.50	1.39
Interest	0.05	0.06	0.06	0.05	0.05	0.05	0.05	0.05	0.04	0.04	0.04	0.04	0.04
Depreciation	1.32	1.43	1.41	1.58	1.33	1.33	1.18	1.31	1.34	1.31	1.30	1.34	1.34
Profit before tax	8.33	7.86	9.49	7.54	8.32	8.61	9.04	8.87	7.14	8.50	10.20	7.97	7.56
Tax %	39.86%	28.37%	9.27%	49.47%	33.89%	25.20%	26.00%	11.50%	24.65%	24.94%	25.20%	23.46%	26.32%
	5.01	5.64	8.62	3.81	5.51	6.43	6.69	7.84	5.38	6.39	7.62	6.10	5.58
EPS in Rs	0.92	1.04	1.59	0.70	1.06	1.24	1.29	1.51	1.03	1.23	1.47	1.17	1.07
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	34	35	115	112	115	91	88	122	159	163	153	166	165
Sales growth	+1%	+3%	+228%	-3%	+3%	-21%	-3%	+38%	+30%	+2%	-6%	+8%	+5%
	29	29	87	84	92	78	73	99	124	129	120	131	132
Operating Profit	5	6	28	28	24	13	16	24	35	34	33	35	33
OPM %	16%	17%	24%	25%	21%	14%	18%	19%	22%	21%	22%	21%	20%
	3	3	7	7	6	7	8	4	4	6	6	5	6
Interest	0	0	1	1	1	1	0	0	1	0	0	0	0
Depreciation	1	1	3	4	4	4	4	4	4	5	5	5	5
Profit before tax	6	7	30	30	25	15	19	23	34	34	34	35	34
Tax %	25%	19%	22%	19%	19%	17%	28%	19%	23%	23%	33%	22%
	5	6	24	24	20	12	14	19	26	26	22	27	26
EPS in Rs	1.16	1.46	5.86	3.68	3.10	1.85	2.50	3.49	4.85	4.81	4.32	5.24	4.94
Dividend Payout %	0%	0%	0%	16%	19%	32%	24%	17%	14%	19%	21%	23%

Compounded Sales Growth
10 Years:	17%
5 Years:	13%
3 Years:	1%
TTM:	5%

Compounded Profit Growth
10 Years:	17%
5 Years:	15%
3 Years:	1%
TTM:	-1%

Stock Price CAGR
10 Years:	6%
5 Years:	4%
3 Years:	-13%
1 Year:	-15%

Return on Equity
10 Years:	12%
5 Years:	13%
3 Years:	12%
Last Year:	13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	8	8	8	13	13	13	11	11	11	11	10	10	10
Reserves	45	51	131	151	167	171	150	155	177	199	191	222	234
	0	0	0	0	0	0	0	0	0	0	0	0	0
	8	9	30	24	22	20	22	26	22	22	28	29	31
Total Liabilities	62	68	169	188	202	204	183	192	211	232	230	261	275
	11	11	45	52	52	54	50	49	69	77	80	89	86
CWIP	0	0	8	1	1	0	0	1	2	0	0	0	0
Investments	32	39	71	87	91	101	76	65	64	70	52	102	110
	19	18	45	48	58	49	56	77	76	85	97	70	78
Total Assets	62	68	169	188	202	204	183	192	211	232	230	261	275

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3	6	18	19	14	13	19	14	21	24	26	36
	-3	-6	-16	-16	-2	-9	28	4	-23	-12	16	-52
	-0	-0	-2	-4	-5	-8	-38	-15	-5	-6	-31	-7
Net Cash Flow	0	-0	0	-1	6	-3	9	3	-6	7	11	-23
Free Cash Flow	3	5	8	15	8	9	19	5	-3	12	18	33
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	85%	115%	81%	95%	79%	129%	146%	79%	75%	93%	97%	127%

Ratios

Standalone / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	63	32	46	57	58	56	65	51	50	58	56	60
Inventory Days	126	165	82	105	130	149	108	126	95	84	124	94
Days Payable	82	94	86	127	116	108	105	89	33	28	51	38
Cash Conversion Cycle	106	102	43	35	72	98	69	87	112	115	129	117
Working Capital Days	76	65	41	56	64	68	58	77	85	98	97	78
ROCE %	9%	13%	28%	20%	15%	8%	11%	14%	20%	17%	16%	16%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Export Share of Revenue
% of revenue

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		xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx
			x.xx	-xx.xx	-x.xx	xx.xx	xx.xx		x.xx
			x.xx	-xx.xx	-x.xx	xx.xx	xx.xx

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Installed Production Capacity
MT

Permanent Employees
count

Number of Dealers
count

Number of Distributors
count

Sales Volume Growth
% YoY

Production Volume Growth
% YoY

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026	Oct 2026
	69.25%	69.25%	69.25%	69.25%	69.25%	69.25%	69.25%	69.25%	69.25%	69.25%	69.25%	69.25%
	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.00%	0.00%
	30.72%	30.72%	30.71%	30.72%	30.72%	30.71%	30.72%	30.72%	30.72%	30.71%	30.74%	30.75%
No. of Shareholders	16,558	16,650	19,832	19,050	18,245	17,883	17,625	17,367	17,068	17,345	12,508	12,451

	Sep 1992	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Dec 2023	Mar 2025	Mar 2026	Oct 2026
	69.25%	49.73%	69.21%	69.25%	69.25%	69.25%	69.25%	69.25%	69.25%	69.25%	69.25%	69.25%
	0.03%	0.04%	0.03%	0.02%	0.02%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.00%
	30.72%	50.23%	30.76%	30.72%	30.72%	30.72%	30.72%	30.72%	30.72%	30.72%	30.72%	30.75%
No. of Shareholders	16,710	14,030	16,578	16,308	15,934	14,488	15,324	14,070	16,558	18,245	17,068	12,451

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Indian Toners & Developers Ltd

Indian Toners & Developers Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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