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Indo Borax & Chemicals Limited
(INDOBORAX)
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Rating:79Outperform
Price Target:
₹568.00
▲(112.06% Upside)
Action:Reiterated
Date:08/21/26
The score is driven primarily by strong financial fundamentals—solid profitability and an extremely conservative balance sheet—tempered by uneven cash-flow consistency (notably the FY2025 cash outflow) and recent revenue volatility. Technically, price momentum is strong and supports the outlook, while valuation is a modest headwind given the higher P/E and low dividend yield.
Positive Factors
Strong Profitability
Sustained profitability indicates that Indo Borax’s boron-chemical products retain attractive economics. Healthy margins provide internal funding for operations and investment, while also offering some resilience against cost or demand fluctuations.
Negative Factors
Revenue Volatility
The uneven revenue pattern indicates that demand, pricing, or customer industries may be cyclical. Repeated contractions would reduce operating leverage and make it harder to sustain margins and plan capacity investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability
Sustained profitability indicates that Indo Borax’s boron-chemical products retain attractive economics. Healthy margins provide internal funding for operations and investment, while also offering some resilience against cost or demand fluctuations.
Read all positive factors
Indo Borax & Chemicals Limited (INDOBORAX) vs. iShares MSCI India ETF (INDA)
Market Cap
₹15.52B
Dividend Yield0.19%
Average Volume (3M)32.24K
Price to Earnings (P/E)27.6
Beta (1Y)0.77
Revenue Growth29.69%
EPS Growth45.54%
CountryIN
Employees111
SectorGeneral
Sector StrengthN/A
IndustryChemicals
Share Statistics
EPS (TTM)15.67
Shares Outstanding32,090,000
10 Day Avg. Volume19,075
30 Day Avg. Volume32,244
Financial Highlights & Ratios
PEG Ratio0.85
Price to Book (P/B)2.02
Price to Sales (P/S)3.62
P/FCF Ratio8.17
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
Indo Borax & Chemicals Limited Business Overview & Revenue Model
Company Description
Indo Borax & Chemicals Ltd., founded in 1980 and based in Mumbai, India, is an Indian producer and supplier specializing in boron and lithium compounds. The company's product portfolio includes various borax offerings such as decahydrate crystals ...
How the Company Makes Money
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Indo Borax & Chemicals Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
64
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.15B | 1.75B | 1.91B | 2.25B | 1.76B |
| Gross Profit | 809.49M | 933.41M | 559.38M | 783.13M | 660.95M |
| EBITDA | 441.59M | 458.88M | 545.44M | 706.41M | 510.83M |
| Net Income | 502.70M | 425.05M | 389.78M | 506.94M | 363.71M |
Balance Sheet | |||||
| Total Assets | 4.05B | 3.57B | 3.11B | 2.75B | 2.22B |
| Cash, Cash Equivalents and Short-Term Investments | 2.12B | 849.23M | 1.59B | 913.46M | 390.52M |
| Total Debt | 14.30M | 326.00K | 326.00K | 327.00K | 327.00K |
| Total Liabilities | 182.89M | 212.62M | 178.55M | 202.54M | 144.92M |
| Stockholders Equity | 3.87B | 3.35B | 2.93B | 2.55B | 2.07B |
Cash Flow | |||||
| Free Cash Flow | 954.87M | -787.19M | 632.94M | 457.57M | 114.41M |
| Operating Cash Flow | 957.78M | -719.90M | 678.67M | 507.28M | 114.76M |
| Investing Cash Flow | -855.95M | -69.07M | -301.18M | -75.64M | 255.73M |
| Financing Cash Flow | -32.09M | -33.88M | -32.15M | -33.01M | -32.17M |
Indo Borax & Chemicals Limited Technical Analysis
Neutral
267.85
Price Trends
442.76
Positive
370.00
Positive
300.02
Positive
Market Momentum
18.57
Positive
52.49
Neutral
24.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDOBORAX, the sentiment is Neutral. The current price of 267.85 is below the 20-day moving average (MA) of 491.78, below the 50-day MA of 442.76, and below the 200-day MA of 300.02, indicating a neutral trend. The MACD of 18.57 indicates Positive momentum. The RSI at 52.49 is Neutral, neither overbought nor oversold. The STOCH value of 24.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:INDOBORAX.
Indo Borax & Chemicals Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹15.52B | 27.59 | ― | 0.19% | 29.69% | 45.54% | |
74 Outperform | ₹38.81B | 7.60 | ― | 2.85% | -3.37% | -13.58% | |
67 Neutral | ₹9.21B | 11.43 | ― | 0.39% | 13.23% | 22.22% | |
67 Neutral | ₹13.06B | 19.97 | ― | 0.28% | 8.15% | 41.80% | |
60 Neutral | ₹51.82B | 78.01 | ― | 2.24% | 7.07% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹166.69B | 16.94 | ― | 0.76% | 13.63% | 0.30% |
* General Sector Average
IN:INDOBORAX
Indo Borax & Chemicals Limited
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266.05
122.35%
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Indo Borax & Chemicals Limited Corporate Events
Indo Borax details TDS process on proposed Rs 40-per-share dividend
Jul 13, 2026
Indo Borax Chemicals Limited has informed shareholders about procedural requirements for tax deduction at source on dividend payouts for the 2026-27 tax year. The communication follows a board recommendation of a total dividend of Rs. 40 per equi...
Indo Borax Posts FY2026 Results, Releases Earnings Call Transcript
Jun 5, 2026
Indo Borax Chemicals Limited has released the transcript of its Q4 and FY2026 earnings conference call discussing audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The document highlights that se...
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.