Indo Rama Synthetics (India) (INDORAMA) had a P/E of 9.5× on 6 Nov 2026, below the industry P/E of 17.0×, and the shares are 32% below their 52-week high. Sales grew 6.1% a year over 3 years, with ROCE of 27% and ROE of 38%. Debt is 1.32× equity. It is a small-cap company with a market cap of ₹1,999 Cr, ranked 20th of 246 Textile Manufacturing companies by market cap; the shares rose 12% over the past year.
- ₹77.50
- ₹79.50
- ₹75.00
- ₹78.79
- 3.7 L
Health check
- ReturnsIn line
+11.6% over a year, better than 3 of 7 peers.
- Price tagCheaper
P/E 9.5 vs industry 17.0.
- GrowthStrong
Sales +6.1% a year over 3 years.
- ProfitabilityStrong
ROCE 27.0% vs peer median 10.7%.
- Balance sheetFair
Debt 1.32× equity, interest covered 2.8×.
- Red flags2 to check
32% below its 52-week high.
Small cap
Defensive
Key metrics
- Market cap
- ₹1,999 Cr
- Small cap
- P/E
- 9.5
- Industry 17.0
- Price to book
- 3.04
- Peers 3.81
- Dividend yield
- 0.00%
- ROE
- 38.2%
- Peers 10.1%
- ROCE
- 27.0%
- Peers 10.7%
- Debt to equity
- 1.32
- Debt ₹867 Cr
- EPS (TTM)
- ₹8.08
- Face value ₹10
- OPM (TTM)
- 8.4%
- Net margin 4.5%
- Sales growth
- +9.8%
- Latest quarter vs a year ago
- Profit growth
- +201.8%
- Latest quarter vs a year ago
- Price to sales
- 0.43
- EV/EBITDA 7.4
Strengths and risks
Strengths
- Return on equity of 38.2%.
- Return on capital employed of 27.0%.
- Quarterly profit up 201.8% on a year ago.
- P/E of 9.5 against an industry P/E of 17.0.
Risks to check
- 32% below its 52-week high.
- Interest coverage of only 2.8×.
About Indo Rama Synthetics (India)
Indo Rama Synthetics (India) Limited manufactures and trades in polyester products in India, Turkey, Nepal, Mexico, and internationally. It provides various polyester products, including polyester staple fiber, partially oriented yarn, polyester filament yarn, draw texturized yarn, fully drawn yarn, and polyester chips. The company is also involved in the trading of spun yarn and operations of converting flakes into chips. Its products are used in a range…
- Headquarters
- Gurugram
- Employees
- 1,309
- Sector
- Consumer Cyclical
- ISIN
- INE156A01020
- Website
- indoramaindia.com
Price range
- Avg volume (3M)
- 13.9 L
- 1-year return
- plus 11.6%
- From 52-week high
- minus 31.8%
Peers · Textile Manufacturing
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KPRMILLK.P.R. Mill | 1,164.40 | minus 0.25% | 39,883 | 38.3 | 6.41 | 20.0% | 18.0% | 22.1% | 2.3% | 2.1% | 0.43% | plus 10.5% |
| WELSPUNLIVWelspun Living | 241.30 | minus 4.75% | 22,717 | 52.8 | 4.47 | 5.8% | 8.8% | 28.7% | 5.7% | 0.9% | 0.04% | plus 96.2% |
| VTLVardhman Textiles | 508.80 | minus 4.89% | 14,729 | 14.3 | 1.38 | 8.6% | 7.3% | 13.7% | −0.8% | −2.1% | 0.98% | plus 22.2% |
| ARVINDArvind | 494.75 | minus 0.58% | 12,969 | 28.4 | 3.10 | 15.4% | 11.1% | 10.9% | 3.4% | 0.8% | 0.91% | plus 57.3% |
| TRIDENTTrident | 23.88 | plus 0.08% | 12,168 | 25.4 | 2.53 | 10.7% | 10.1% | 14.9% | 1.8% | −5.1% | 2.09% | minus 16.6% |
| ICILIndo Count Industries | 489.85 | minus 2.25% | 9,702 | 39.8 | 3.81 | 9.5% | 5.5% | 9.7% | 11.6% | −22.9% | 0.31% | plus 78.7% |
| GARFIBRESGarware Technical Fibres | 715.65 | minus 2.13% | 6,988 | 29.8 | 4.97 | 19.3% | 15.3% | 19.2% | 5.6% | 4.9% | 1.26% | minus 3.9% |
| INDORAMAIndo Rama Synthetics (India) | 76.57 | minus 2.82% | 1,999 | 9.5 | 3.04 | – | 38.2% | 8.4% | – | – | 0.00% | plus 11.6% |
| Median of 7 peers | – | −2.13% | 12,969 | 29.8 | 3.81 | 10.7% | 10.1% | 14.9% | 3.4% | 0.8% | 0.91% | 22.2% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 1,221 | 1,182 | 1,202 | 937 | 1,341 | |
| 1,142 | 1,126 | 1,084 | 832 | 1,226 | |
| 78.7 | 55.6 | 118 | 104 | 114 | |
| 6.4% | 4.7% | 9.8% | 11.2% | 8.5% | |
| −8.6 | 4 | −10 | 0.7 | 0.9 | |
| 33.6 | 36.1 | 31.6 | 29.4 | 29 | |
| 12 | 12 | 11.9 | 12 | 12.3 | |
| – | −2.7 | – | – | – | |
| 24.6 | 8.8 | 64.1 | 63.7 | 73.9 | |
| – | – | – | – | −0.3% | |
| 24.6 | 8.8 | 64.1 | 63.7 | 74.1 | |
| 0.94 | 0.34 | 2.46 | 2.44 | 2.84 |
Profit & loss
- Sales CAGR 3Y
- +6.1%
- ROE
- 38.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3,907 | 3,696 | 4,053 | 4,670 | |
| – | minus 5.4% | +9.7% | +15.2% | |
| 3,850 | 3,733 | 3,857 | 4,317 | |
| 57.6 | −36.5 | 196 | 353 | |
| 1.5% | −1.0% | 4.8% | 7.6% | |
| −0.1 | −6.5 | −1.7 | −27.8 | |
| 49.6 | 119 | 146 | 126 | |
| 31.3 | 39.1 | 48.2 | 47.8 | |
| −1.3 | −2.1 | 1.5 | −1.6 | |
| −24.7 | −203 | 1.4 | 150 | |
| −0.6% | – | – | – | |
| −24.6 | −203 | 1.4 | 150 | |
| -0.94 | -7.79 | 0.05 | 5.75 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 261 | 261 | 261 | 261 | |
| 312 | 107 | 107 | 258 | |
| 890 | 1,339 | 1,136 | 1,140 | |
| 1,250 | 1,199 | 1,431 | 1,585 | |
| 2,713 | 2,907 | 2,936 | 3,244 | |
| 1,121 | 1,330 | 1,302 | 1,277 | |
| 338 | 113 | 38.1 | 44.4 | |
| 0.4 | 0.3 | – | – | |
| 61.4 | 29.4 | 24.6 | 17.2 | |
| 1,192 | 1,435 | 1,571 | 1,906 | |
| 2,713 | 2,907 | 2,936 | 3,244 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −81 | −96.7 | 391 | 134 | |
| −348 | −258 | −36.3 | −14.1 | |
| 479 | 322 | −354 | −127 | |
| 50.3 | −32.4 | 0.6 | −7.4 | |
| −365 | −260 | −38.7 | −23.8 | |
| −446 | −357 | 352 | 110 | |
| −0.1 | −0.1 | – | – |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 0.0% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.