Is Indo Rama Synthetics (India) Ltd (INDORAMA) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Indo Rama Synthetics (India) Ltd is a below average quality company .

Is Indo Rama Synthetics (India) Ltd (INDORAMA) undervalued or overvalued?

The key valuation ratios of Indo Rama Synthetics (India) Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Indo Rama Synthetics (India) Ltd (INDORAMA) share price return in the past 10 years?

Indo Rama Synthetics (India) Ltd share price has appreciated 2.8% annually (CAGR) over the past ten years.

Is Indo Rama Synthetics (India) Ltd (INDORAMA) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Indo Rama Synthetics (India) Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

What is the share price of Indo Rama Synthetics (India) Ltd (INDORAMA)?

Company share prices are keep on changing according to the market conditions. The current trading price of Indo Rama Synthetics (India) Ltd (INDORAMA) on 17-Apr-2026 16:59:59 at 16:59 is 39.41.

What is the P/E ratio of Indo Rama Synthetics (India)?

The latest standalone P/E ratio of Indo Rama Synthetics (India) as of 17-Apr-2026 is 8.89.

What is the P/B ratio of Indo Rama Synthetics (India) Ltd (INDORAMA)?

The latest standalone P/B ratio of Indo Rama Synthetics (India) Ltd (INDORAMA) as of 17-Apr-2026 is 1.98.

What is the 52-week high and low of Indo Rama Synthetics (India) Ltd (INDORAMA)?

The 52-week high of Indo Rama Synthetics (India) Ltd (INDORAMA) is Rs. 74.94 and the 52-week low is Rs. 28.70.

Indo Rama Synthetics (India) Ltd (INDORAMA) Share Analysis – Quality, Valuation Zone & Price Trend & DeciZen Rating

Name: Indo Rama Synthetics (India) Ltd (INDORAMA)
Brand: Indo Rama Synthetics (India)

Key Metrics

Market Cap

₹1,029 Cr.

P/E Ratio

8.89

Price to Book (P/B)

1.98

Price to Sales (P/S)

0.23

EV/EBITDA

6.81

Return on Capital Employed (ROCE)

10.74%

Current Price

₹39.4

Return on Equity (ROE)

4.53%

Return on Assets (ROA)

0.84%

Operating Profit Margin

3.7%

Net Profit Margin

0.51%

Gross Profit Margin

1.4%

Book Value per Share

₹19.9

Sales Growth (YoY)

6.75%

Sales Growth (3 Years)

0.47%

Operating Profit Growth (1 Year)

NA%

Operating Profit Growth (3 Years)

-20.29%

Net Profit Growth (1 Year)

NA%

52-Week Low / High

₹29 / 75

Net Profit Growth (3 Years)

-57.85%

Dividend Yield

0.00%

Promoter Holding

74.84%

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

0.00%

Check Before You Invest

Q.1 Revenue growth of Indo Rama Synthetics (India) Ltd?

Indo Rama Synthetics (India) Ltd revenue growth is 6.8% for FY-2025 , which is below its 5 year CAGR of 13.4% , indicating slower growth.

Q.1 Promoter shareholding and pledge status of Indo Rama Synthetics (India) Ltd?

Promoters hold 74.84% of the Indo Rama Synthetics (India) Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of Indo Rama Synthetics (India) Ltd vs industry peers?

Indo Rama Synthetics (India) Ltd revenue CAGR is 13.43% , compared to the industry median CAGR of 0.02% , indicating faster growth and gaining its market share.

Q.1 Which industry/sub-sector does Indo Rama Synthetics (India) Ltd belong to?

Indo Rama Synthetics (India) Ltd belongs to the Textiles & Apparels sector, operating specifically within the Textile - Manmade Fibres segment.

Q.1 Stock return of Indo Rama Synthetics (India) Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 2.9% based on the current price.

DeciZen - make an informed investing decision on Indo Rama Synth

Based on:

Data

Overall Rating ⓘ
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1. Quality

2. Valuation

3. Price Trend

Indo Rama Synthetics (India) stock performance

Key Ratios

Is Indo Rama Synthetics (India) 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 % ⓘ	-4.6%	-5.4%	-3.8%	-36.3%	-11.6%	9.8%	34.9%	3.7%	-2.6%	10.7%	-
Value Creation Index ⓘ	-1.3	-1.4	-1.3	-3.6	-1.8	-0.3	1.5	-0.7	-1.2	-0.2	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	2,536	2,468	2,256	1,695	2,108	2,023	3,901	3,906	3,707	3,957	4,536
Sales YoY Gr.	-	-2.7%	-8.6%	-24.9%	24.4%	-4%	92.9%	0.1%	-5.1%	6.8%	-
Adj EPS ⓘ	4	-7.1	-5.1	-15.2	-12	4.6	10.2	-0.7	-5.3	0.8	4.4
YoY Gr.	-	-276.5%	NA	NA	NA	NA	121.6%	-106.5%	NA	NA	-
BVPS (₹) ⓘ	39.8	33.1	27.6	13.5	8.5	12.8	23	22.1	16.6	17.4	19.9
Adj Net Profit ⓘ	60.8	-107	-77.4	-270	-314	120	265	-17.3	-139	20.4	116
Cash Flow from Ops. ⓘ	127	39.2	28.1	-211	-118	181	198	-65.8	-165	336	-
Debt/CF from Ops. ⓘ	2.5	7.8	13.1	-2.7	-4	2.1	1.5	-10.1	-6.1	2.6	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	5.1%	13.4%	0.5%	6.8%
Adj EPS ⓘ	-16.6%	NA	-57.5%	NA
BVPSⓘ	-8.8%	15.3%	-8.9%	4.3%
Share Price	2.8%	0.4%	-3.8%	5.3%

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 % ⓘ	10.5	-19.4	-16.8	-81.8	-135.6	43.2	57	-3	-27.5	4.6	23.8
Op. Profit Mgn % ⓘ	0.6	-3.3	1.2	-5.7	-1.5	4.1	7.4	0.9	-0.4	3.7	5.5
Net Profit Mgn % ⓘ	2.4	-4.4	-3.4	-16	-14.9	5.9	6.8	-0.4	-3.8	0.5	2.6
Debt to Equity ⓘ	0.5	0.6	0.9	2.4	2.1	1.1	0.5	1.2	2.3	1.9	-
Working Cap Days ⓘ	106	101	98	124	115	136	86	101	121	123	55
Cash Conv. Cycle ⓘ	-23	-50	-66	-75	-46	-62	-39	-32	-35	-34	-23

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	4.4	5.3
TTM Sales (₹ Cr.)	4,536	4,907
BVPS (₹) ⓘ	19.9	17.4
Reserves (₹ Cr.) ⓘ	258	193
P/BV ⓘ	1.98	2.27
PE ⓘ	8.89	7.50

From the Market
52 Week Low / High (₹)	28.70 / 74.94
All Time Low / High (₹)	4.55 / 116.67
Market Cap (₹ Cr.)	1,029
Equity (₹ Cr.)	261.1
Face Value (₹)	10
Industry PE ⓘ	21.9

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of Indo Rama Synth - 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	2,536	2,468	2,256	1,695	2,108	2,023	3,901	3,906	3,707	3,957
Operating Expenses ⓘ +	2,553	2,548	2,230	1,794	2,141	1,941	3,614	3,874	3,727	3,812
Manufacturing Costs	272	309	282	186	300	293	439	539	408	415
Material Costs	1,970	1,947	1,681	1,333	1,604	1,419	2,835	3,046	3,070	3,174
Employee Cost	106	105	85	78	90	90	108	114	117	112
Other Costs ⓘ	205	188	183	198	148	139	233	174	131	111
Operating Profit ⓘ	-17	-80	25	-100	-33	82	287	32	-20	145
Operating Profit Margin (%)	-0.7%	-3.3%	1.1%	-5.9%	-1.6%	4.1%	7.3%	0.8%	-0.5%	3.7%
Other Income ⓘ +	84	118	35	7	32	32	24	38	19	42
Exceptional Items ⓘ	-31	-5	-7	-115	0	-12	0	0	0	0
Interest ⓘ	54	91	94	131	92	66	62	59	107	128
Depreciation ⓘ	78	79	83	83	86	34	31	31	34	39
Profit Before Tax ⓘ	-96	-138	-125	-422	-180	3	218	-19	-142	20
Tax ⓘ	-132	-54	-42	-151	136	-110	-50	0	0	0
Profit After Tax	36	-84	-83	-271	-316	113	268	-19	-142	20
PAT Margin (%)	1.4%	-3.4%	-3.7%	-16.0%	-15.0%	5.6%	6.9%	-0.5%	-3.8%	0.5%
Adjusted EPS (₹)	2.4	-5.5	-5.5	-15.2	-12.1	4.3	10.3	-0.7	-5.4	0.8
Dividend Payout Ratio (%)	43%	0%	0%	0%	0%	0%	0%	0%	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 +	604	502	420	241	222	333	599	577	434	453
Share Capital ⓘ	152	152	152	178	261	261	261	261	261	261
Reserves ⓘ	452	350	268	63	-39	72	338	316	173	192
Debt +	276	249	290	514	399	304	195	603	777	663
Long Term Debt	99	81	37	222	307	233	145	358	100	170
Short Term Debt	178	168	253	292	93	71	50	245	678	493
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	735	704	624	579	552	854	1,000	1,088	988	1,231
Others Liabilities ⓘ	288	206	174	116	306	43	40	-3	157	100
Total Liabilities ⓘ	1,904	1,660	1,508	1,451	1,480	1,534	1,835	2,266	2,356	2,447
Fixed Assets
Net Fixed Assets ⓘ +	935	898	840	759	703	688	697	782	876	898
Gross Block	1,009	1,051	1,076	1,078	1,107	1,125	1,165	1,256	1,379	1,421
Accumulated Depreciation	74	153	236	319	404	437	468	474	503	523
CWIP ⓘ	17	11	3	2	7	9	32	110	70	31
Investments ⓘ	61	1	1	0	1	3	6	16	16	16
Inventories	257	195	116	184	251	387	525	638	512	517
Trade Receivables	198	133	111	59	91	105	184	158	291	310
Cash Equivalents	83	70	83	59	22	8	9	59	19	25
Others Assets ⓘ	353	352	355	387	404	334	381	503	572	650
Total Assets ⓘ	1,904	1,660	1,508	1,451	1,480	1,534	1,835	2,266	2,356	2,447

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 ⓘ +	127	39	28	-211	-118	181	198	-66	-165	336
PBT ⓘ	-96	-138	-125	-422	-180	3	218	-19	-142	20
Adjustment ⓘ	94	110	155	414	155	92	94	69	140	142
Changes in Working Capital ⓘ	130	67	-2	-204	-94	71	-117	-112	-163	174
Tax Paid ⓘ	-1	-0	-0	1	1	15	3	-3	-1	-1
Cash Flow From Investing Activity ⓘ +	-32	53	-6	17	39	-17	-49	-188	-110	-52
Capex	-43	-77	-13	-5	-11	-23	-50	-180	-100	-31
Net Investments	-45	12	-4	15	43	5	-0	0	0	0
Others ⓘ	55	118	11	7	6	2	2	-8	-10	-21
Cash Flow From Financing Activity ⓘ +	-112	-93	-15	185	87	-174	-149	305	236	-278
Net Proceeds from Shares ⓘ	0	0	0	92	299	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-30	-2	-32	170	96	-72	-62	175	-93	41
Interest Paid ⓘ	-36	-63	-68	-115	-102	-74	-59	-57	-102	-131
Dividend Paid ⓘ	-15	-15	-0	-0	-0	-0	-0	0	0	0
Others ⓘ	-30	-13	86	39	-206	-28	-28	188	431	-187
Net Cash Flow ⓘ	-17	-1	8	-9	8	-10	-0	51	-39	6

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 (%)	6.24	-15.2	-17.95	-82.03	-136.35	40.6	57.53	-3.28	-28.02	4.53
ROCE (%)	-4.61	-5.41	-3.82	-36.26	-11.62	9.78	34.91	3.7	-2.57	10.74
Asset Turnover Ratio	1.48	1.52	1.48	1.21	1.49	1.4	2.42	2.1	1.75	1.77
PAT to CFO Conversion(x)	3.53	N/A	N/A	N/A	N/A	1.6	0.74	N/A	N/A	16.8
Working Capital Days
Receivable Days	21	22	19	17	13	17	13	15	20	26
Inventory Days	35	30	24	31	36	55	41	49	52	44
Payable Days	103	135	144	165	129	181	119	125	123	128

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Indo Rama Synthetics (India) Ltd FAQs

The current trading price of Indo Rama Synth on 17-Apr-2026 16:59 is ₹39.41.

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 16-Apr-2026 the market cap of Indo Rama Synth stood at ₹1,029.1 Cr

The latest P/E ratio of Indo Rama Synth as of 16-Apr-2026 is 8.89.

The latest P/B ratio of Indo Rama Synth as of 16-Apr-2026 is 1.98.

The 52-week high of Indo Rama Synth is ₹74.94 and the 52-week low is ₹28.70.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Indo Rama Synth is ₹4,536 ( Cr.) .

About Indo Rama Synthetics (India) Ltd

The history of Indo Rama Synthetics (India) Ltd. dates back to 1989, when it first forayed into the business of polyesters. Believing that polyester was going to be the fibre of the future, the commitment and perseverance over the years by the company has today resulted in an undisputed leadership position for it in the Indian polyester arena. A leading manufacturer and supplier in the country's fast growing polyester sector since the last two decades, Indo Rama has emerged as India's second largest dedicated polyester manufacturer having carved a niche in the market place for its unmatched quality offerings.

Equipped with a state-of-art integrated manufacturing complex at Butibori near Nagpur in Maharashtra, Indo Rama also has several technical collaborations with various technology leaders in Japan, Germany and USA. A customer focused organization, Indo Rama stands for high quality standards and innovative business practices.

Driven by the passion to seek new challenges, Indo Rama has recently forayed into the power sector. Indo Rama's 82.5 MW installed capacity comprises 52.5 MW (3x13.5 MW + 3x4 MW) of diesel generating (DG) sets and 40 MW of co-gen captive facility based on coal, giving 30 MW electricity. The company's combined power generation capabilities are integrated into a common power supply pool, from which required amount of power is fed for internal use and the surplus is sold to external agencies.

The Indo Rama Group has a strong presence in Indonesia, Thailand, USA, Nepal and Sri Lanka, besides India. It has focussed business activities in the field of Textiles, Polyesters and Industrial Chemicals. Forbes magazine has recognized the Group - Indo Rama Synthetics (India) and associate companies based in South-East Asia - as one of the '100 Best Small Companies in the Emerging Markets'.

Product range of the company includes:

Polyester Staple Fibre (PSF)
Partially Oriented Yarn (POY)
Draw Texturised Yarn (DTY)
Fully Drawn Yarn (FDY)
Polyester Chips

Awards and achievement:

2008-09- First prize in National energy conservation award -2008 by Ministry of Power, Government of India
Second prize in over all export performance award by SRTEPC
2007-08 -National Award for Excellence in water management 2007 by CII
Second prize in National energy conservation award in the petrochemicals sector by Ministry of Power, Govt. of India
2006-07-â€œBest export performanceâ€ for exports to focus African countries in Gold category by SRTEPC
National Award in Excellence in water management 2006 by CII
Leadership & excellence award in safety, health & environment by CII
2005-06- â€œBest export performanceâ€ for exports to â€˜Focus Lacâ€™ countries in Gold category by SRTEPC
Man-made fibre yarn blended with natural fibre, State level energy conservation by SRTEPC
Leadership & excellence award in safety, health & environment by CII 2004-05
State level energy conservation award by MEDA, Pune
National Award in Excellence in water management 2004-05 by CII
Corporate excellence award in Sourcing excellence by IIMM-Ariba Inc
Udyog Ratna Award - O.P. Lohia, CMD in Outstanding contribution to the State of Madhya Pradesh by Govt. of Madhya Pradesh 2003-04
Special award in silver category by SRTEPC
National award for Excellence in water management 2003-05 by CII
Man-made fibre yarn blended with natural fibre in gold category by SRTEPC
Viscose spun yarn in gold category by SRTEPC 2002-03
Special award in silver category by SRTEPC
National award in Excellence in water management 2003-05 by CII
Man-made fibre yarn blended with natural fibre in gold category by SRTEPC 2001-02
Special award in silver category by SRTEPC
Man-made fibre yarn blended with natural fibre in gold category by SRTEPC
Non-traditional markets in gold category by SRTEPC 1999-2000
Special award in silver category by SRTEPC
Polyester spun yarn in gold category by SRTEPC
Man-made fibre yarn blended with natural yarn in gold category by SRTEPC
Man-made fibre yarn blended with natural fibre in gold category by SRTEPC
Non-traditional markets in gold category by SRTEPC1998-99
Man-made fibre yarn blended with natural yarn in gold category by SRTEPC
Non-traditional markets in gold category by SRTEPC 1997-98
Special award in gold category by SRTEPC
Man-made staple fibre in gold category by SRTEPC
Polyester filament yarn in gold category by SRTEPC
Man-made blended fibre yarn in gold category by SRTEPC 1996-97
Special award in gold category by SRTEPC
Man-made staple fibre in gold category by SRTEPC 1995-96
Polyester-cotton blended yarn in gold category by SRTEPC 1994-95
Special award in gold category by SRTEPC
Viscose spun yarn in Gold category by SRTEPC
Polyester-cotton blended yarn in gold category by SRTEPC1993-94
Polyester-cotton blended yarn in gold category by SRTEPC 1990-91
Viscose spun yarn in Gold category by SRTEPC 1989-90
Viscose spun yarn in Gold category by SRTEPC

Certifications:

ISO 9001:2000,
ISO 14001:2004
OSHAS 18001

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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
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Indo Rama Synthetics (India) Ltd (INDORAMA) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Indo Rama Synth Share Price