Indobell Insulations Ltd
Incorporated in May 1972, Indobell Insulation Limited manufactures insulation products.[1]
- Market Cap ₹ 32.8 Cr.
- Current Price ₹ 52.0
- High / Low ₹ 167 / 46.0
- Stock P/E 14.6
- Book Value ₹ 25.3
- Dividend Yield 3.85 %
- ROCE 23.7 %
- ROE 20.7 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 28.2%
Cons
- Earnings include an other income of Rs.2.12 Cr.
- Company has high debtors of 202 days.
- Working capital days have increased from 72.1 days to 141 days
* 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
Industrials Capital Goods Industrial Products Other Industrial Products
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 9.61 | 20.77 | 17.82 | 25.72 | 27.19 | |
| 8.78 | 18.90 | 15.74 | 22.84 | 25.76 | |
| Operating Profit | 0.83 | 1.87 | 2.08 | 2.88 | 1.43 |
| OPM % | 8.64% | 9.00% | 11.67% | 11.20% | 5.26% |
| 0.16 | 0.29 | 0.10 | 0.77 | 2.12 | |
| Interest | 0.52 | 0.69 | 0.51 | 0.40 | 0.21 |
| Depreciation | 0.26 | 0.26 | 0.27 | 0.22 | 0.22 |
| Profit before tax | 0.21 | 1.21 | 1.40 | 3.03 | 3.12 |
| Tax % | 23.81% | 26.45% | 25.71% | 27.72% | |
| 0.15 | 0.90 | 1.03 | 2.19 | 2.24 | |
| EPS in Rs | 2.20 | 13.19 | 2.52 | 3.48 | 3.55 |
| Dividend Payout % | 45.33% | 15.11% | 11.94% | 57.53% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 39% |
| TTM: | 78% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 144% |
| TTM: | 133% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -69% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 21% |
| Last Year: | 21% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 0.68 | 0.68 | 4.10 | 6.30 | 6.30 |
| Reserves | 3.21 | 4.04 | 1.58 | 9.16 | 9.64 |
| 6.13 | 4.25 | 5.27 | 2.52 | 0.60 | |
| 4.87 | 3.35 | 4.34 | 7.57 | 2.18 | |
| Total Liabilities | 14.89 | 12.32 | 15.29 | 25.55 | 18.72 |
| 2.04 | 2.04 | 1.89 | 1.78 | 2.03 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.07 | 0.14 | 0.17 | 0.17 | 0.17 |
| 12.78 | 10.14 | 13.23 | 23.60 | 16.52 | |
| Total Assets | 14.89 | 12.32 | 15.29 | 25.55 | 18.72 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| -2.82 | 3.13 | 0.25 | -4.32 | |
| -0.07 | -0.55 | -0.56 | -0.22 | |
| 3.27 | -2.50 | 0.43 | 5.66 | |
| Net Cash Flow | 0.38 | 0.08 | 0.11 | 1.12 |
Ratios
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 97.23 | 67.66 | 134.98 | 201.94 |
| Inventory Days | 388.25 | 73.42 | 93.27 | 64.28 |
| Days Payable | 308.43 | 54.74 | 86.66 | 92.51 |
| Cash Conversion Cycle | 177.05 | 86.34 | 141.59 | 173.71 |
| Working Capital Days | 64.19 | 31.81 | 43.01 | 141.35 |
| ROCE % | 20.01% | 19.08% | 23.71% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
19h - Indobell secured Goa Shipyard (GeM) order for thermal insulation, Rs1,23,76,119.91; execution by Dec 2027.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
2d - Export order USD 89,980 from GE Vernova (Cambridge, USA) for steam turbine insulation; execution by Apr 2026.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
2d - Secured USD 85,975 export order from GE Vernova for steam turbine insulation, delivery by Aug 2026.
-
Execution Of Technology Transfer Agreement
6 Feb - Exclusive technology transfer with IIT Roorkee on 5-Feb-2026 for thermal insulation applications; 10-year initial term.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
30 Jan - Secured Rs 3.481 crore domestic order from Epsilon Carbon for insulation, execution by 30 April 2026.
Annual reports
Concalls
-
Jan 2026TranscriptPPT
Business Overview[1]
Indobell Insulations specializes in manufacturing insulation products like nodulated/granulated wool (mineral and ceramic fiber nodules) and prefabricated thermal insulation jackets.
The company provides services such as consultancy, engineering, fabrication, material supply, installation, supervision, and project management. It caters to industries such as power plants, railways, aeronautics, and navigation.
Product Portfolio[2][3]
1. Manufactured Products:
- Mineral Fiber Nodules: Used for thermal insulation, acoustic insulation, and construction.
- Ceramic Fiber Nodules: Suitable for brake blocks, heat shields, and industrial equipment.
- Prefabricated Thermal Insulation Jackets: Designed for energy conservation, safety, and process equipment insulation.