Indo-MIM Ltd
Business Overview:[1]
Incorporated in 1996, Indo-MIM is a global leader in manufacturing precision engineering components using metal injection molding (MIM) technology. The company offers end-to-end solutions including mold design, tooling, finishing, and assembly.
Along with MIM, the company also use advanced technologies such as investment casting, precision machining, ceramic injection molding, and 3D metal printing to serve diverse industries. In FY25, it has manufactured over 6,400 products, catering to automotive, defence, medica, consumer, and aerospace industries.
Product Portfolio:[1]
a) Automotive:
Safety, fuel systems,
powertrain, and interiors
b) Defence:
Firearm components
like triggers, hammers,
and sights
c) Aerospace:
Manifolds, housings,
nozzles, locking rings,
clevises, and brackets
for OEMs
The company has global sales capabilities with dedicated sales team that provides customer support. As of March 31, 2026, it has three sales offices in China, Germany and the United States, with 13 sales representatives in Czech Republic, France, Italy, Japan, South Korea, Israel, Poland and Turkey. In Fiscal 2026, it has served more than 1,100 customers
d) Medical:
Parts for surgical devices in endoscopy, laparoscopy, dental robotics, and orthopedics
e) Consumer:
Fashion accessories, crossbows, cellphone parts, tools, and hardware
f) Manufacturing:
The company operates 15 manufacturing facilities across India, the US, the UK, and Mexico, and hold the world’s largest installed MIM capacity (Source: F&S Report). Its global presence includes sales offices in China, and Germany, and the US, and sales reps across Europe and Asia.
Competitive Strengths:[1]
a) Global leadership
in manufacturing precision
engineering components
using MIM technology
b) Long-standing
relationships with Indian
and global OEM customers
c) Diversified product
portfolio catering to applications
across the multiple industries
d) Backward integrated,
dual-shore manufacturing
capabilities
d) Export driven player
with extensive global
distribution capability
User Industries:[1]
Automotive, Aerospace,
Medical, Defence and
Consumer products.
Acquisitions:[1]
Conway Marsh Garrett Technologies Ltd
CMG Technologies (UK), Triax Industries,
LLC (USA), and Phoenix DeVentures II Inc.
These have added to INDO-MIM’s capabilities
in MIM and advanced machining, strengthening its global footprint
- Market Cap ₹ 50,348 Cr.
- Current Price ₹ 1,018
- High / Low ₹ 1,028 / 700
- Stock P/E 76.0
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 32.2 %
- ROE 34.5 %
- Face Value ₹ 1.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.6%
- Company's working capital requirements have reduced from 60.9 days to 47.7 days
Cons
* 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 Manufacturing Industrial Products
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 1,642 | 2,055 | 2,317 | 2,412 | 2,795 | 3,540 | |
| 933 | 1,310 | 1,603 | 1,731 | 1,936 | 2,509 | |
| Operating Profit | 709 | 745 | 715 | 682 | 859 | 1,031 |
| OPM % | 43% | 36% | 31% | 28% | 31% | 29% |
| 19 | 17 | 19 | -50 | -77 | 23 | |
| Interest | 41 | 40 | 51 | 78 | 87 | 155 |
| Depreciation | 87 | 103 | 125 | 131 | 150 | 162 |
| Profit before tax | 601 | 620 | 558 | 422 | 545 | 737 |
| Tax % | 27% | 23% | 26% | 32% | 26% | 25% |
| 440 | 478 | 416 | 288 | 404 | 549 | |
| EPS in Rs | 45.88 | 49.81 | 43.32 | 5.98 | 8.37 | 11.34 |
| Dividend Payout % | 84% | 53% | 46% | 63% | 71% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 15% |
| TTM: | 27% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 7% |
| 3 Years: | 14% |
| TTM: | 29% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 29% |
| 3 Years: | 28% |
| Last Year: | 35% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 48 | 48 | 48 | 48 | 48 | |
| Reserves | 1,078 | 1,336 | 1,604 | 1,641 | 1,747 | |
| 588 | 670 | 833 | 1,109 | 1,266 | ||
| 260 | 252 | 403 | 368 | 480 | ||
| Total Liabilities | 1,974 | 2,306 | 2,888 | 3,166 | 3,541 | |
| 684 | 805 | 960 | 1,003 | 1,161 | ||
| CWIP | 20 | 53 | 49 | 132 | 141 | |
| Investments | 313 | 346 | 434 | 549 | 436 | |
| 957 | 1,102 | 1,445 | 1,482 | 1,803 | ||
| Total Assets | 1,974 | 2,306 | 2,888 | 3,166 | 3,541 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 473 | 428 | 452 | 471 | 514 | ||
| -210 | -260 | -311 | -463 | -293 | ||
| -284 | -176 | -43 | -84 | -229 | ||
| Net Cash Flow | -22 | -8 | 98 | -76 | -8 | |
| Free Cash Flow | 352 | 199 | 211 | 206 | 201 | |
| CFO/OP | 89% | 81% | 84% | 93% | 79% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 69 | 56 | 59 | 74 | 76 | |
| Inventory Days | 798 | 593 | 512 | 504 | 595 | |
| Days Payable | 286 | 224 | 201 | 177 | 186 | |
| Cash Conversion Cycle | 581 | 425 | 370 | 401 | 485 | |
| Working Capital Days | 40 | 58 | 36 | 75 | 60 | |
| ROCE % | 35% | 27% | 22% | 25% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Intimation of Schedule of Analyst/Institutional Investors Meet under Regulation 30 of the SEBI (LODR) Regulations, 2015.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Indo-MIM to attend investor meet in Bengaluru on September 9, 2026 and Axis Capital conference in Mumbai on September 11, 2026.
-
Inland Letter To Shareholders Of INDO-MIM Limited In Compliance With Regulation 36(1)(B) Of The Listing Regulations.
- Physical letters sent to shareholders for FY2025-26 annual report and AGM notice access.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Advertisement for 30th Annual General Meeting to be held on September 22, 2026.
- Reg. 34 (1) Annual Report.