Indo SMC Ltd
INDO SMC Ltd is engaged in the design and manufacture of a diversified range of products catering to electrical, industrial, and infrastructural applications.[1]
- Market Cap ₹ 827 Cr.
- Current Price ₹ 362
- High / Low ₹ 534 / 134
- Stock P/E 20.1
- Book Value ₹ 76.3
- Dividend Yield 0.00 %
- ROCE 33.8 %
- ROE 33.9 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 43.5%
- Debtor days have improved from 92.8 to 42.1 days.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Working capital days have increased from 48.4 days to 88.5 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 Electrical Equipment Other Electrical Equipment
Part of BSE SME IPO
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| 1 | 7 | 28 | 139 | 310 | 413 | |
| Sales growth | +958% | +284% | +395% | +123% | +128% | |
| 1 | 6 | 23 | 115 | 263 | 358 | |
| Operating Profit | 0 | 1 | 5 | 23 | 47 | 55 |
| OPM % | 14% | 17% | 18% | 17% | 15% | 13% |
| 0 | 0 | 0 | -0 | 1 | 3 | |
| Interest | 0 | 0 | 1 | 4 | 6 | 5 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 2 |
| Profit before tax | 0 | 1 | 4 | 19 | 41 | 51 |
| Tax % | 100% | 29% | 19% | 11% | 20% | |
| 0 | 0 | 3 | 17 | 32 | 41 | |
| EPS in Rs | 0.00 | 0.33 | 1.96 | 10.09 | 14.17 | 17.99 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 249% |
| TTM: | 128% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 313% |
| TTM: | 154% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 43% |
| 3 Years: | 44% |
| Last Year: | 34% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.65 | 0.65 | 0.73 | 17 | 23 | 23 |
| Reserves | 0 | 1 | 5 | 20 | 131 | 151 |
| 0 | 10 | 18 | 36 | 47 | 49 | |
| 5 | 2 | 13 | 27 | 23 | 38 | |
| Total Liabilities | 5 | 14 | 36 | 100 | 224 | 261 |
| 2 | 5 | 7 | 16 | 21 | 23 | |
| CWIP | 0 | 0 | 0 | 8 | 8 | 9 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 | 8 | 29 | 76 | 195 | 230 | |
| Total Assets | 5 | 14 | 36 | 100 | 224 | 261 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| -3 | -6 | -11 | -35 | ||
| -3 | -2 | -17 | -7 | ||
| 6 | 8 | 31 | 92 | ||
| Net Cash Flow | -1 | 0 | 3 | 51 | |
| Free Cash Flow | -6 | -8 | -28 | -42 | |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -231% | -93% | -33% | -65% |
Ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 391 | 70 | 112 | 124 | 42 |
| Inventory Days | 197 | 423 | 326 | 62 | 135 |
| Days Payable | 86 | 137 | 230 | 72 | 23 |
| Cash Conversion Cycle | 502 | 356 | 208 | 114 | 155 |
| Working Capital Days | 1,185 | -26 | 20 | 37 | 88 |
| ROCE % | 17% | 27% | 47% | 34% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Electrical (CT/PT) Segment Revenue Mix % |
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| FRP Installed Capacity Tons |
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| SMC Installed Capacity Tons |
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| FRP Capacity Utilization % |
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| Number of States with Revenue Presence Count |
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| SMC Capacity Utilization % |
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| Top 5 Customer Concentration % |
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| Order Book ₹ Crore |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- H1 FY27 earnings call scheduled for 16 Nov 2026 at 2:00 PM.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- H1 FY27 income rose 94% to ₹218 crore; order book ₹145 crore; first export shipment to Oman.
- Announcement under Regulation 30 (LODR)-Investor Presentation
- Announcement under Regulation 30 (LODR)-Newspaper Publication
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Statement Of Deviation And Variation
- Auditor certified IPO proceeds utilization for quarter ended September 30, 2026; no deviation reported.
Concalls
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Nov 2026PPT
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Jun 2026Transcript PPT
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May 2026PPT
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Feb 2026Transcript PPT
Business Profile[1]
The company is an ISO certified manufacturer specializing in SMC (Sheet Moulding Compound) and FRP (Fibre Reinforced Plastic) products, along with electrical components such as CT/PTs and power distribution equipment. It primarily serves the power distribution, smart metering, electrical infrastructure, and broader industrial sectors.