Is IP Rings Ltd (IPRINGLTD) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that IP Rings Ltd is a below average quality company .

Is IP Rings Ltd (IPRINGLTD) undervalued or overvalued?

The key valuation ratios of IP Rings Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone .

What is IP Rings Ltd (IPRINGLTD) share price return in the past 10 years?

IP Rings Ltd share price has appreciated 3% annually (CAGR) over the past ten years.

Is IP Rings Ltd (IPRINGLTD) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of IP Rings Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

What is the share price of IP Rings Ltd (IPRINGLTD)?

Company share prices are keep on changing according to the market conditions. The current trading price of IP Rings Ltd (IPRINGLTD) on 16-Apr-2026 16:59:59 at 16:59 is 112.00.

What is the P/E ratio of IP Rings?

The latest standalone P/E ratio of IP Rings as of 16-Apr-2026 is 74.09.

What is the P/B ratio of IP Rings Ltd (IPRINGLTD)?

The latest standalone P/B ratio of IP Rings Ltd (IPRINGLTD) as of 16-Apr-2026 is 1.39.

What is the 52-week high and low of IP Rings Ltd (IPRINGLTD)?

The 52-week high of IP Rings Ltd (IPRINGLTD) is Rs. 185.00 and the 52-week low is Rs. 93.00.

IP Rings Ltd (IPRINGLTD) Share Analysis – Cycle Position, Quality & Valuation Zone & DeciZen Rating

Name: IP Rings Ltd (IPRINGLTD)
Brand: IP Rings

IP Rings Ltd (IPRINGLTD) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

IP Rings Ltd (IPRINGLTD)

BSE: 523638 NSE: IPRINGLTD

Key Metrics

Market Cap

₹145 Cr.

P/E Ratio

74.09

Price to Book (P/B)

1.39

Price to Sales (P/S)

0.43

EV/EBITDA

7.28

Return on Capital Employed (ROCE)

3.68%

Current Price

₹112

Return on Equity (ROE)

-3.05%

Return on Assets (ROA)

-1.05%

Operating Profit Margin

7.3%

Net Profit Margin

-1.05%

Gross Profit Margin

4.3%

Book Value per Share

₹82.2

Sales Growth (YoY)

-4.21%

Sales Growth (3 Years)

3.62%

Operating Profit Growth (1 Year)

-4.22%

Operating Profit Growth (3 Years)

-12.62%

Net Profit Growth (1 Year)

NA%

52-Week Low / High

₹93 / 185

Net Profit Growth (3 Years)

NAN%

Dividend Yield

0.00%

Promoter Holding

56.58%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Revenue growth of IP Rings Ltd?

IP Rings Ltd revenue growth is -4.2% for FY-2025 , which is below its 5 year CAGR of 8.9% , indicating slower growth.

Q.1 Promoter shareholding and pledge status of IP Rings Ltd?

Promoters hold 56.58% of the IP Rings Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of IP Rings Ltd vs industry peers?

IP Rings Ltd revenue CAGR is 8.92% , compared to the industry median CAGR of 11.82% , indicating slower growth and losing its market share.

Q.1 Which industry/sub-sector does IP Rings Ltd belong to?

IP Rings Ltd belongs to the Automobiles sector, operating specifically within the Auto Ancillary segment.

Q.1 Stock return of IP Rings Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 3% based on the current price.

DeciZen - make an informed investing decision on IP Rings

Based on:

Data

Overall Rating ⓘ
Login to view analysis. M-Cap below 500cr. High Risk from low Liquidity

1. Quality

2. Valuation

3. Price Trend

IP Rings stock performance

Key Ratios

Is IP Rings Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	7.5%	5.4%	11.1%	10.8%	6.1%	7.3%	10.1%	6.2%	4.4%	3.7%	-
Value Creation Index ⓘ	-0.5	-0.6	-0.2	-0.2	-0.6	-0.5	-0.3	-0.6	-0.7	-0.7	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	118	174	203	212	198	198	273	323	317	303	334
Sales YoY Gr.	-	46.9%	16.9%	4.5%	-6.7%	0.3%	37.4%	18.6%	-2%	-4.2%	-
Adj EPS ⓘ	0.5	-0.8	6.3	6.7	1.5	4	6.5	0.5	-2.5	-2.8	1.6
YoY Gr.	-	-256%	NA	7.5%	-77.1%	156.5%	63.3%	-92.9%	-650%	NA	-
BVPS (₹) ⓘ	40.1	68.3	74	80.2	79.7	83.1	88.2	87.6	84.1	81.4	82.2
Adj Net Profit ⓘ	0.5	-1	7.9	8.5	2	5	8.2	0.6	-3.2	-3.6	2
Cash Flow from Ops. ⓘ	7.4	10.3	21.8	20.7	32.2	17	22.8	42.1	34.9	19.4	-
Debt/CF from Ops. ⓘ	11.6	5.8	3.3	4	2.5	5.5	4.8	2.3	2.4	5.1	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	11%	8.9%	3.6%	-4.2%
Adj EPS ⓘ	-221.2%	-212.9%	-175.9%	NA
BVPSⓘ	8.2%	0.4%	-2.7%	-3.2%
Share Price	3%	6.2%	9%	-14.6%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	1.2	-1.6	8.8	8.7	1.9	4.9	7.5	0.5	-3	-3.4	1.9
Op. Profit Mgn % ⓘ	13.2	8	12.2	13.4	11.5	12.5	12.1	8	7.3	7.3	8.8
Net Profit Mgn % ⓘ	0.4	-0.6	3.9	4	1	2.5	3	0.2	-1	-1.2	0.6
Debt to Equity ⓘ	2.1	0.7	0.8	0.8	0.8	0.9	1	0.9	0.8	1	-
Working Cap Days ⓘ	181	164	177	176	175	190	172	164	175	179	75
Cash Conv. Cycle ⓘ	98	81	83	94	96	94	77	65	62	62	-6

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	1.6	0.7
TTM Sales (₹ Cr.)	334	334
BVPS (₹) ⓘ	82.2	80.5
Reserves (₹ Cr.) ⓘ	92	89
P/BV ⓘ	1.39	1.42
PE ⓘ	74.09	156.06

From the Market
52 Week Low / High (₹)	93.00 / 185.00
All Time Low / High (₹)	15.19 / 278.80
Market Cap (₹ Cr.)	145
Equity (₹ Cr.)	12.7
Face Value (₹)	10
Industry PE ⓘ	43.6

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of IP Rings - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	118	174	203	212	198	198	273	323	317	303
Operating Expenses ⓘ +	103	160	179	184	176	174	240	297	294	281
Manufacturing Costs	33	57	64	69	64	70	107	129	123	114
Material Costs	40	58	67	66	63	60	82	112	110	105
Employee Cost	18	24	27	29	29	25	29	30	34	33
Other Costs ⓘ	12	20	21	20	21	20	22	26	27	29
Operating Profit ⓘ	15	13	24	28	22	24	33	26	23	22
Operating Profit Margin (%)	12.9%	7.7%	11.8%	13.0%	10.9%	12.3%	12.1%	8.0%	7.3%	7.3%
Other Income ⓘ +	1	2	1	1	1	1	2	3	3	3
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Interest ⓘ	9	10	7	8	9	7	10	11	11	12
Depreciation ⓘ	7	8	8	10	11	12	14	16	17	18
Profit Before Tax ⓘ	0	-3	10	11	2	7	11	2	-3	-5
Tax ⓘ	0	-1	3	3	1	2	3	1	-0	-1
Profit After Tax	0	-1	7	8	1	5	8	2	-3	-3
PAT Margin (%)	0.2%	-0.8%	3.6%	3.8%	0.6%	2.5%	3.0%	0.5%	-0.9%	-1.1%
Adjusted EPS (₹)	0.2	-1.1	5.8	6.3	0.9	3.9	6.5	1.4	-2.2	-2.5
Dividend Payout Ratio (%)	0%	0%	0%	16%	0%	38%	31%	73%	0%	0%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	40	87	94	102	101	105	112	111	107	103
Share Capital ⓘ	7	13	13	13	13	13	13	13	13	13
Reserves ⓘ	33	74	81	89	88	93	99	98	94	90
Debt +	76	47	60	72	68	79	87	71	58	76
Long Term Debt	14	18	24	34	28	39	50	41	34	43
Short Term Debt	62	29	36	38	40	40	36	30	24	33
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	17	33	28	35	30	53	63	90	98	84
Others Liabilities ⓘ	22	22	24	19	39	35	39	43	46	40
Total Liabilities ⓘ	156	189	207	228	237	273	301	316	308	303
Fixed Assets
Net Fixed Assets ⓘ +	80	85	95	118	119	145	154	154	146	146
Gross Block	165	177	117	150	162	199	223	238	247	259
Accumulated Depreciation	85	93	23	32	43	54	69	84	100	113
CWIP ⓘ	1	4	4	2	19	2	5	2	2	3
Investments ⓘ	0	0	0	0	0	0	1	1	2	7
Inventories	27	34	35	40	38	47	53	60	59	53
Trade Receivables	34	49	47	49	38	56	67	76	77	67
Cash Equivalents	2	2	5	6	12	7	3	6	6	1
Others Assets ⓘ	11	16	20	13	11	16	18	18	15	25
Total Assets ⓘ	156	189	207	228	237	273	301	316	308	303

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	7	10	22	21	32	17	23	42	35	19
PBT ⓘ	0	-3	10	11	2	7	11	2	-3	-5
Adjustment ⓘ	15	18	15	18	23	18	25	26	29	29
Changes in Working Capital ⓘ	-8	-5	-2	-6	7	-6	-11	15	10	-4
Tax Paid ⓘ	-0	-0	-2	-3	-0	-1	-2	-1	-1	-0
Cash Flow From Investing Activity ⓘ +	-20	30	-24	-22	-15	-26	-27	-13	-7	-26
Capex	-20	-18	-18	-30	-30	-14	-26	-12	-9	-15
Net Investments	-0	0	0	0	0	0	-1	-0	-1	-5
Others ⓘ	0	48	-6	8	15	-13	0	-0	3	-7
Cash Flow From Financing Activity ⓘ +	11	-36	6	2	-11	4	1	-27	-27	2
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	6	8	-3	11	19	-6	-7	7
Interest Paid ⓘ	-8	-10	-7	-7	-8	-7	-10	-10	-11	-11
Dividend Paid ⓘ	-0	-0	-0	0	-2	0	-2	-3	-1	-0
Others ⓘ	19	-26	7	1	1	0	-7	-8	-8	6
Net Cash Flow ⓘ	-2	4	4	0	6	-5	-3	2	1	-5

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	0.53	-2.28	8.14	8.13	1.09	4.81	7.56	1.56	-2.51	-3.05
ROCE (%)	7.53	5.44	11.06	10.76	6.09	7.33	10.08	6.21	4.38	3.68
Asset Turnover Ratio	0.93	1.1	1.05	0.98	0.85	0.78	0.95	1.05	1.02	0.99
PAT to CFO Conversion(x)	N/A	N/A	3.14	2.63	32	3.4	2.88	21	N/A	N/A
Working Capital Days
Receivable Days	81	80	84	83	81	87	83	81	88	87
Inventory Days	71	58	61	65	72	78	67	64	68	67
Payable Days	136	150	159	149	149	214	223	211	249	242

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IP Rings Ltd FAQs

The current trading price of IP Rings on 16-Apr-2026 16:59 is ₹112.0.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 15-Apr-2026 the market cap of IP Rings stood at ₹145.1 Cr

The latest P/E ratio of IP Rings as of 15-Apr-2026 is 74.09.

The latest P/B ratio of IP Rings as of 15-Apr-2026 is 1.39.

The 52-week high of IP Rings is ₹185.0 and the 52-week low is ₹93.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of IP Rings is ₹334 ( Cr.) .

About IP Rings Ltd

IP Rings was born out of the technical collaboration between India Pistons Limited and Nippon Piston Ring Company Ltd., Japan - a world class leader in Ring Technology in 1991. IP Rings was promoted by India Pistons Ltd., Simpson & Company Ltd., Tractors and Farm Equipment Ltd., and Amalgamations Pvt Ltd., Chennai. State-of-the-Art manufacturing facility at Maraimalai Nagar, 50 Kms. from Chennai.

IP Rings manufactures a wide range of sophisticated piston rings. A model manufacturing unit, the Companyâ€™s production plant is fully integrated and has a wide spectrum of Surface Engineering Technologies.

IP Rings is the only Company in India, which has got under one roof, facilities for all the surface treatments, which are currently used in contemporary engines. Its plant at Maraimalainagar has the following surface treatment facilities.

Plasma Spray: IP Rings has one of the best plasma spray facilities, which is capable of spraying alloy powders and also multi-layer coatings. Plasma sprayed coatings improve the scuff and wear resistance and are recommended for high operating temperatures.

Gas Nitriding : IP Rings has a fully automatic Gas Nitriding frunace, capable of giving extremely close tolerances on mechanical properties and case depth. This results in excellent wear-resistance and prolonged engine life for gasolene engines - both for passenger cars and two-wheelers.

Nifflex-S & Nifflex-H: IP Rings has the facility to manufacture 3 piece steel oil control ring, consisting of an expander and two side rails, based on the famous Nifflex-S, Nifflex-Hdesign of NPR, Japan. These rings ensure total conformability of the oil ring to the cylinder bore throughout the life of the engine and give better and long life oil control.

Chrome Plating : IP Rings has a fully automated chrome plating facility, which can carry out besides periphery plating, chrome plating of the side faces of the rings, as well as the bore surface. Thus, it can cater to the entire range of chrome plating requirements.

Entire spectrum of the automobile industry from two-wheelers to Heavy Commercial Vehicles and Tractors are catered by them.

Product range of the company includes:

Steel Rings
Cast Iron Rings and
Nifflex S Rings
Nifflex H with surface coatings
Plasma Spraying
Gas Nitriding
Chrome Plating

Clientele:Tata Motors, Maruti, Ashok Leyland, Hyundai. Eicher, HM, TVS, Royal Enfield, Simpson, Nippon Pistons etc.

Achievements/ recognition:

ISO 9002 (1996)
QS9000 (2000)
ISO 14001 (2002)
ISO/TS16949:2002 (2002)
100 PPM (2003)
Accreditation of In-house R & D (2004)
IMEA Gold Award from Frost & Sulivan (2005)
IMEA Super Platinum From Frost & Sulivan (2007)
CII EXIM - Significant Acheivement Award (2008)

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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
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IP Rings Ltd (IPRINGLTD) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

IP Rings Share Price