Indian Toners & Developers Ltd (523586) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 523586 | NSE: | Chemicals | Small Cap

Indian Toners & Dev Share Price

258.55 -3.75 -1.43%
as on 05-Dec'25 15:22

Indian Toners & Developers Ltd (523586) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 523586 | NSE: | Chemicals | Small Cap

DeciZen - make an informed investing decision on Indian Toners & Dev

Based on:

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

1. Quality


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2. Valuation


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3. Price Trend


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Indian Toners & Developers stock performance -

Key Ratios
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P/E Ratio (SA):
10.34
Market Cap:
272.6 Cr.
52-wk low:
235
52-wk high:
320

Is Indian Toners & Developers Ltd an attractive stock to invest in?


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10 Year X-Ray of Indian Toners & Dev: 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
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Indian Toners & Developers Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 13.3%31.6%20.8%15.8%8.7%11.1%14.6%19.6%17.4%16.5%-
Value Creation
Index
-0.11.30.50.1-0.4-0.20.00.40.20.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 351151121159188.3119155157153158
Sales YoY Gr.-227.8%-2.5%3.1%-21.2%-3%34.8%30.4%1%-2.4%-
Adj EPS 7.329.518.516.19.612.618.824.22421.525.4
YoY Gr.-305.5%-37.4%-12.9%-40.6%32.2%49.1%28.5%-0.8%-10.4%-
BVPS (₹) 73.7166.3120.9132.6140.1148.3152.7173.5193.2194.2207
Adj Net
Profit
5.923.824.321.212.613.720.426.22622.326
Cash Flow from Ops. 5.617.719.213.913.519.514.120.92426.1-
Debt/CF from Ops. 0000000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 17.8%11%8.7%-2.4%
Adj EPS 12.8%17.6%4.5%-10.4%
BVPS11.4%6.8%8.3%0.5%
Share Price 6.5% 15.4% 12.1% -16.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
10.423.315.812.36.97.912.514.813.110.912.6
Op. Profit
Mgn %
17.524.524.621.414.617.921.822.421.521.721.1
Net Profit
Mgn %
16.720.721.718.313.815.517.216.916.614.616.7
Debt to
Equity
00000000000
Working Cap
Days
14281135145173157141140150161161
Cash Conv.
Cycle
62212938645646577681144

Recent Performance Summary

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Latest Financials - Indian Toners & Developers Ltd.

Standalone Consolidated
TTM EPS (₹) 25.4 26.1
TTM Sales (₹ Cr.) 158 146
BVPS (₹.) 207 0
Reserves (₹ Cr.) 205 174
P/BV 1.27 0.00
PE 10.34 10.05
From the Market
52 Week Low / High (₹) 235.00 / 320.00
All Time Low / High (₹) 0.05 / 417.95
Market Cap (₹ Cr.) 273
Equity (₹ Cr.) 10.4
Face Value (₹) 10
Industry PE 48.1

Management X-Ray of Indian Toners & Dev:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Indian Toners & Dev - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Event Update

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Analyst's Notes

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No data found!

Key Ratios of Indian Toners & Dev

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales351151121159188119155157153
Operating Expenses 29878592787395120123120
Manufacturing Costs5151617151318242523
Material Costs15514751413952717169
Employee Cost 6121314141416171820
Other Costs 3999869888
Operating Profit 6282724131624353433
Operating Profit Margin (%) 17.4%24.3%24.5%20.7%14.1%17.6%19.8%22.4%21.5%21.7%
Other Income 3776784466
Interest 0111100100
Depreciation 1344444455
Exceptional Items 000-0000000
Profit Before Tax 7303025151923343434
Tax 17652558811
Profit After Tax 6242420121419262622
PAT Margin (%) 16.8%20.6%21.6%17.7%13.4%15.4%15.9%17.0%16.7%14.7%
Adjusted EPS (₹)7.329.318.415.59.312.517.524.324.121.6
Dividend Payout Ratio (%)0%0%16%19%32%24%17%14%19%21%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 59139164180184161166188210202
Share Capital 881313131111111110
Reserves 51131151167171150155177199191
Minority Interest0000000000
Debt0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Trade Payables41216161211136510
Others Liabilities 5181311101418222327
Total Liabilities 68169194207207186196217238238

Fixed Assets

Gross Block38839497104104105127140147
Accumulated Depreciation27384246505457586367
Net Fixed Assets 11455252545049697780
CWIP 0811001200
Investments 397187911017665647052
Inventories7111318171218191723
Trade Receivables3151718141617222623
Cash Equivalents 55815122225172333
Others Assets 414151291022252525
Total Assets 68169194207207186196217238238

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity 6181914131914212426
PBT 7303025151923343434
Adjustment -1-3-1-3-3131-0-0
Changes in Working Capital 1-4-2-443-8-9-3-1
Tax Paid -1-5-7-5-3-3-5-5-7-6
Cash Flow From Investing Activity -6-16-16-2-9284-23-1216
Capex -0-10-4-5-10-0-9-24-12-8
Net Investments -7-7-142027113-121
Others 2121212-113
Cash Flow From Financing Activity -0-2-4-5-8-38-15-5-6-31
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -0-0-1-1-1-0-0-0-0-0
Dividend Paid 0-1-3-5-70-15-4-5-5
Others 0000-1-38-1-0-1-26
Net Cash Flow -00-16-393-6711

Finance Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)10.4424.4316.5312.246.797.8511.614.8713.1410.91
ROCE (%)13.3331.6120.7615.798.6711.1214.6219.5817.3616.49
Asset Turnover Ratio0.541.010.630.590.450.460.640.770.710.66
PAT to CFO Conversion(x)10.750.790.71.081.360.740.810.921.18
Working Capital Days
Receivable Days46275155636049445457
Inventory Days62283948685744423946
Payable Days895711011612610984493040

Indian Toners & Developers Ltd Stock News

Indian Toners & Developers Ltd FAQs

The current trading price of Indian Toners & Dev on 05-Dec-2025 15:22 is ₹258.6.
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 04-Dec-2025 the market cap of Indian Toners & Dev stood at ₹272.6.
The latest P/E ratio of Indian Toners & Dev as of 04-Dec-2025 is 10.34.
The latest P/B ratio of Indian Toners & Dev as of 04-Dec-2025 is 1.27.
The 52-week high of Indian Toners & Dev is ₹320.0 and the 52-week low is ₹235.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Indian Toners & Dev is ₹157.9 ( Cr.) .

About Indian Toners & Developers Ltd

Indian Toners and Developers (ITD) was incorporated in 1990 as a public limited company with more than 18000 shareholders, an entrepreneurial venture, founded by its Chairman & Managing Director, Sushil Jain. Employing a highly automated and integrated Swiss/German plant, ITDL had a capacity to produce 650 mt of toners per annum. ITD is a leading manufacturer of compatible black toners for photocopiers, laser printers, digital machines and multi function printers.

ITDL has now enhanced its capacity to produce 2400 mt of  toners per annum with its new manufacturing facility (ITDL Imagetec Limited) located at Sitarganj in the state of Uttrakhand.

Having established itself as a pioneer in the domestic market, ITD exports toners and developers of best quality standards for use in various international brands and models of photocopiers, laser printers and digital machines to more than 32 countries ITDL is an entrepreneurial venture, which was founded by its Chairman & Managing Director,  Sushil Jain, a technocrat with an innovative vision. Quality consciousness, dedication to technological progress and determination for satisfaction of its customers, shareholders and employees underline the values set forth by its founder.

Research and Development has been the cornerstone of ITDL's success. Backed by a pilot plant and know-how assistance from Japan, ITDL is well equipped to develop a wide range of toner products to meet the emerging needs of the market. Raw materials are sourced from world-renowned manufacturers in Japan, Germany and The United States of America.

Being the first company of its kind, ITDL thus came onto the Indian business scenario as a pioneer in this highly technical field and since then has established itself firmly as the leader in the domestic market with the single largest market share. ITDL has the most widespread network of dealers numbering 500, which is constantly growing, present in every nook and corner of the country. With its head office based in New Delhi, the regional offices of the company are located in the 4 metropolitan cities of India – Delhi, Mumbai, Chennai and Kolkata. ITDL has a strong work force of employees in excess of 250.

Every department of ITDL consists of a team of highly experienced and dedicated professionals in order to maintain a privileged relationship with the large and ever growing family of valued and satisfied customers.

Product range of the company includes:

Indian Toners and Developers Limited, is the leading manufacturer of compatible black toner for photocopiers, laser printers, digital machines and multi function printers. It is sold under the brand name of Supremo in the domestic market. It has established itself firmly as the leader in the domestic market with the single largest market share.

Black toner for

  • Photocopiers
  • Laser Printers
  • Digital Machines and
  • Multi Function Printers

Developers

Bulk Toner and Toner Cartridge Packaging

The company has recently introduced consumables for laser printer cartridges - OPC Drums, Doctor Blades and Wiper Blades.

Achievements/ recognition:

  • An ISO 9001:2000 certified company
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