IP Rings Ltd

₹ 110 -4.88%

05 Mar 12:23 p.m.

About

Incorporated in 1991, IP Rings Ltd
manufactures engine and transmission components^[1]

Key Points

History^[1]
IPRLwas formed as a joint venture promoted by India Pistons Ltd, Simpson & Company Limited, Tractor and Fram Equipment Ltd and Amalgamations Private Ltd in Technical and Financial collaboration with Nippon Piston Ring
Co. Ltd of Japan.

Website BSE

Market Cap ₹ 140 Cr.
Current Price ₹ 110
High / Low ₹ 185 / 93.0
Stock P/E 150
Book Value ₹ 80.2
Dividend Yield 0.00 %
ROCE 3.08 %
ROE -4.14 %
Face Value ₹ 10.0

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Pros

Cons

Company has low interest coverage ratio.
Company has a low return on equity of -1.79% 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

Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	82.54	76.32	76.24	77.74	73.92	88.82	82.09	79.28	57.80	84.21	81.52	83.74	84.99
	76.89	71.22	72.23	72.56	68.92	80.59	75.21	73.65	55.72	77.87	74.34	76.20	78.14
Operating Profit	5.65	5.10	4.01	5.18	5.00	8.23	6.88	5.63	2.08	6.34	7.18	7.54	6.85
OPM %	6.85%	6.68%	5.26%	6.66%	6.76%	9.27%	8.38%	7.10%	3.60%	7.53%	8.81%	9.00%	8.06%
	1.28	0.32	1.36	0.29	0.76	0.23	0.22	0.31	0.19	1.97	0.43	1.17	1.54
Interest	2.81	3.08	3.06	2.77	2.85	2.80	2.75	2.75	2.99	3.24	3.04	3.29	3.69
Depreciation	4.00	4.23	4.16	4.32	4.24	4.15	4.08	4.38	4.61	4.54	4.23	4.44	4.41
Profit before tax	0.12	-1.89	-1.85	-1.62	-1.33	1.51	0.27	-1.19	-5.33	0.53	0.34	0.98	0.29
Tax %	83.33%	-29.63%	-37.84%	28.40%	-32.33%	39.74%	51.85%	-19.33%	-26.27%	35.85%	50.00%	69.39%	62.07%
	0.02	-1.33	-1.15	-2.08	-0.90	0.91	0.13	-0.97	-3.93	0.34	0.17	0.31	0.11
EPS in Rs	0.02	-1.05	-0.91	-1.64	-0.71	0.72	0.10	-0.77	-3.10	0.27	0.13	0.24	0.09
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	273	323	317	303	334
	240	297	294	282	307
Operating Profit	33	26	23	21	28
OPM %	12%	8%	7%	7%	8%
	2	3	3	3	5
Interest	10	11	11	12	13
Depreciation	14	16	17	18	18
Profit before tax	11	2	-3	-6	2
Tax %	26%	28%	-2%	-23%
	8	2	-3	-4	1
EPS in Rs	6.47	1.32	-2.55	-3.49	0.73
Dividend Payout %	31%	76%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	4%
TTM:	9%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	124%

Stock Price CAGR
10 Years:	3%
5 Years:	7%
3 Years:	7%
1 Year:	-21%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	-2%
Last Year:	-4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	13	13	13	13	13
Reserves	99	98	93	89	89
	113	101	87	104	111
	75	104	114	96	101
Total Liabilities	301	316	307	301	314
	154	154	146	146	149
CWIP	5	2	2	3	5
Investments	0	1	1	4	4
	142	159	158	148	156
Total Assets	301	316	307	301	314

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	23	42	35	19
	-27	-13	-7	-25
	1	-27	-27	2
Net Cash Flow	-3	2	1	-4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	90	85	89	81
Inventory Days	236	194	195	185
Days Payable	282	293	324	291
Cash Conversion Cycle	44	-14	-40	-25
Working Capital Days	3	-8	-17	-22
ROCE %		6%	4%	3%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Actual Production - Forgings (OCF Products)
Lakhs of Pieces ・Standalone data

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Actual Production - Piston Rings
Lakhs of Pieces ・Standalone data

Installed Capacity - Forgings (OCF Products)
Lakhs of Pieces ・Standalone data

Installed Capacity - Piston Rings
Lakhs of Pieces ・Standalone data

Electricity Consumption per Unit - OCF Products
kwh / component ・Standalone data

Electricity Consumption per Unit - Piston Rings
kwh / ring ・Standalone data

Shareholding Pattern

Numbers in percentages

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	56.58%	56.58%	56.58%	56.58%	56.58%	56.58%	56.58%	56.58%	56.58%	56.58%	56.58%	56.58%
	43.42%	43.42%	43.43%	43.43%	43.44%	43.43%	43.43%	43.41%	43.42%	43.41%	43.43%	43.42%
No. of Shareholders	6,457	6,476	6,348	6,611	6,622	6,608	6,353	6,259	6,225	6,194	6,087	310

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	56.58%	56.58%	56.58%	56.58%	56.58%	56.58%	56.58%	56.58%	56.58%	56.58%
	1.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	42.32%	43.42%	43.42%	43.42%	43.42%	43.42%	43.42%	43.44%	43.42%	43.42%
No. of Shareholders	8,150	7,897	7,746	7,702	6,699	6,558	6,457	6,622	6,225	310

IP Rings Ltd

IP Rings Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports