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De Nora India Limited
(DENORA)
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Rating:65Neutral
Price Target:
₹971.00
▲(39.88% Upside)
Action:Reiterated
Date:06/16/26
The score is driven primarily by solid financial safety (debt-free balance sheet) but tempered by weaker margin stability and cash-flow conversion. Technicals are supportive with the stock trading above major moving averages, while the high P/E reduces the valuation component and limits upside confidence.
Positive Factors
Debt-free balance sheet
A zero-debt capital structure materially lowers financial risk and preserves strategic optionality. Over the medium term this durability supports investment in growth, resilience through demand cycles, and easier access to external financing if needed, strengthening long-term solvency.
Negative Factors
Material margin compression
A dramatic fall from prior high margins to mid-single digits materially reduces earnings power and raises doubts about competitive positioning or cost control. If margins remain depressed, the firm may struggle to generate returns on new investments and sustain shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A zero-debt capital structure materially lowers financial risk and preserves strategic optionality. Over the medium term this durability supports investment in growth, resilience through demand cycles, and easier access to external financing if needed, strengthening long-term solvency.
Read all positive factors
De Nora India Limited (DENORA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.30B
Dividend Yield0.49%
Average Volume (3M)593.00
Price to Earnings (P/E)35.4
Beta (1Y)1.04
Revenue Growth17.52%
EPS Growth491.95%
CountryIN
Employees45
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)17.05
Shares Outstanding5,308,634
10 Day Avg. Volume494
30 Day Avg. Volume593
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)2.80
Price to Sales (P/S)2.97
P/FCF Ratio39.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
De Nora India Limited Business Overview & Revenue Model
Company Description
De Nora India Limited specializes in the production, sale, and servicing of electrolytic products for both domestic and global markets. A core aspect of its business involves manufacturing and applying coatings to anodes and cathodes, which are cr...
De Nora India Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
86
Very Positive
Cash Flow
52
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.22B | 685.82M | 741.91M | 725.66M | 735.72M |
| Gross Profit | 441.37M | 408.82M | 327.63M | 422.12M | 304.12M |
| EBITDA | 66.81M | -14.08M | 220.94M | 286.04M | 238.53M |
| Net Income | 90.55M | 16.93M | 190.07M | 202.76M | 154.50M |
Balance Sheet | |||||
| Total Assets | 1.60B | 1.42B | 1.27B | 1.16B | 936.40M |
| Cash, Cash Equivalents and Short-Term Investments | 771.29M | 627.45M | 621.26M | 566.66M | 443.40M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 304.58M | 221.62M | 69.84M | 139.84M | 117.59M |
| Stockholders Equity | 1.29B | 1.20B | 1.20B | 1.02B | 818.81M |
Cash Flow | |||||
| Free Cash Flow | 91.02M | -1.16M | 91.29M | 106.14M | 105.85M |
| Operating Cash Flow | 131.56M | 31.17M | 160.61M | 142.75M | 116.61M |
| Investing Cash Flow | -41.94M | 7.38M | -136.07M | -237.95M | -161.23M |
| Financing Cash Flow | 0.00 | -10.62M | -10.62M | -5.31M | -5.31M |
De Nora India Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹90.26B | 34.79 | ― | 0.07% | 14.60% | -1.12% | |
65 Neutral | ₹4.30B | 35.35 | ― | 0.49% | 17.52% | 491.95% | |
65 Neutral | ₹115.52B | 36.46 | ― | 0.87% | 17.84% | -2.60% | |
56 Neutral | ₹43.37B | 100.61 | ― | 0.11% | 41.95% | -3.11% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹28.64B | 35.39 | ― | 0.27% | 5.64% | 108.01% | |
52 Neutral | ₹24.76B | -9.27 | ― | ― | 55.63% | -13.55% |
* General Sector Average
IN:DENORA
De Nora India Limited
810.30
-23.70
-2.84%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.