Indobell Insulations Ltd
Incorporated in May 1972, Indobell Insulation Limited manufactures insulation products.[1]
- Market Cap ₹ 34.9 Cr.
- Current Price ₹ 55.4
- High / Low ₹ 158 / 46.0
- Stock P/E 43.6
- Book Value ₹ 25.8
- Dividend Yield 3.61 %
- ROCE 6.40 %
- ROE 5.05 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Debtor days have improved from 148 to 106 days.
Cons
- Company has a low return on equity of 12.7% over last 3 years.
- Earnings include an other income of Rs.1.59 Cr.
- Working capital days have increased from 143 days to 244 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 | Mar 2026 | |
|---|---|---|---|---|---|
| 9.61 | 20.77 | 17.82 | 25.72 | 15.58 | |
| 8.78 | 18.90 | 15.74 | 22.84 | 15.80 | |
| Operating Profit | 0.83 | 1.87 | 2.08 | 2.88 | -0.22 |
| OPM % | 8.64% | 9.00% | 11.67% | 11.20% | -1.41% |
| 0.16 | 0.29 | 0.10 | 0.77 | 1.59 | |
| Interest | 0.52 | 0.69 | 0.51 | 0.40 | 0.07 |
| Depreciation | 0.26 | 0.26 | 0.27 | 0.22 | 0.27 |
| Profit before tax | 0.21 | 1.21 | 1.40 | 3.03 | 1.03 |
| Tax % | 23.81% | 26.45% | 25.71% | 27.72% | 23.30% |
| 0.15 | 0.90 | 1.03 | 2.19 | 0.80 | |
| EPS in Rs | 2.20 | 13.19 | 2.52 | 3.48 | 1.27 |
| Dividend Payout % | 45.33% | 15.11% | 11.94% | 57.53% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -9% |
| TTM: | -39% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -4% |
| TTM: | -63% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -52% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 13% |
| Last Year: | 5% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.68 | 0.68 | 4.10 | 6.30 | 6.30 |
| Reserves | 3.21 | 4.04 | 1.58 | 9.16 | 9.92 |
| 6.13 | 4.25 | 5.27 | 2.52 | 0.17 | |
| 4.87 | 3.35 | 4.34 | 7.57 | 3.49 | |
| Total Liabilities | 14.89 | 12.32 | 15.29 | 25.55 | 19.88 |
| 2.04 | 2.04 | 1.89 | 1.78 | 2.61 | |
| 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 | 17.10 | |
| Total Assets | 14.89 | 12.32 | 15.29 | 25.55 | 19.88 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| -2.82 | 3.13 | 0.25 | -4.32 | 4.50 | |
| -0.07 | -0.55 | -0.56 | -0.22 | -1.34 | |
| 3.27 | -2.50 | 0.43 | 5.66 | -2.92 | |
| Net Cash Flow | 0.38 | 0.08 | 0.11 | 1.12 | 0.24 |
| Free Cash Flow | -2.95 | 2.87 | 0.13 | -4.43 | 3.42 |
| CFO/OP | -327% | 177% | 28% | -124% | -2,218% |
Ratios
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 97.23 | 67.66 | 134.98 | 201.94 | 105.89 |
| Inventory Days | 388.25 | 73.42 | 93.27 | 64.28 | 230.42 |
| Days Payable | 308.43 | 54.74 | 86.66 | 92.51 | 65.55 |
| Cash Conversion Cycle | 177.05 | 86.34 | 141.59 | 173.71 | 270.76 |
| Working Capital Days | 64.19 | 31.81 | 43.01 | 141.35 | 244.11 |
| ROCE % | 20.01% | 19.08% | 23.71% | 6.40% |
Insights
In beta| Mar 2024 | Jan 2026 | |
|---|---|---|
| Production Volume - Ceramic Fibre (CF) Nodule Metric Tonnes (M.T.) |
|
|
| Production Volume - Nodulated Wool Metric Tonnes (M.T.) |
||
| Domestic Order Book (Estimated) USD |
||
| Export Order Book USD |
||
| Jacket Manufacturing Capacity Gas Turbine Units Per Month |
||
| Number of Permanent Employees Number |
||
| Total Order Value - Recent BHEL Order INR Crores |
||
Extracted by Screener AI
Documents
Announcements
-
Partnership With RGBSI(RGBSI ( Troy, MI USA And Bangalore, India)
1d - Indobell partnered with RGBSI and implemented PLM/eQLM digital platform on 25.5.2026.
-
Intimation Of Grant Of Stock Options Under 'Indobell Insulations Ltd. Employee Stock Option Plan 2025'
22 May - Indobell granted 1,85,000 stock options at ₹20 under ESOP 2025; vesting over 1-3 years.
-
Mr Varikallu Kondala Rao, General Manager (Projects) To Be Shown Under Senior Management U/S 178 Of The Companies Act 2013
22 May - Indobell approved FY26 audited results, no dividend, and appointed Mayank Burman CEO from 1 June 2026.
-
Statement Of Deviation Or Variation For Proceeds Of Public Issue
22 May - Board approved FY26 audited results, no dividend, and appointed Mayank Burman as CEO from 1 June 2026.
-
Statement Of Deviation Or Variation For Proceeds Of Public Issue
22 May - Board approved FY26 audited results, no dividend, no deviation in IPO funds, and appointed Mayank Burman CEO from 1 June 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.