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Indo Rama Synthetics (India) Limited
(INDORAMA)
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Rating:62Neutral
Price Target:
₹78.00
▲(61.19% Upside)
Action:Reiterated
Date:09/06/26
The score is driven mainly by improving financial performance (profitability and cash flow recovery) but is capped by still-high leverage and historical volatility. Technicals add support due to a strong uptrend, while valuation appears reasonable based on a ~11.8 P/E; overbought momentum signals temper the technical contribution.
Positive Factors
Revenue and profit rebound
The sharp FY2026 recovery shows renewed operating traction after the FY2023–FY2024 loss period. Stronger revenue growth combined with restored profitability can improve internal funding capacity and provide a more durable base for performance over the next several quarters.
Negative Factors
Elevated leverage
Although leverage has improved, a debt-heavy capital structure still reduces resilience when textile demand or polyester pricing weakens. Higher financial obligations can constrain capital allocation, increase dependence on operating recovery, and limit flexibility during a cyclical downturn.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit rebound
The sharp FY2026 recovery shows renewed operating traction after the FY2023–FY2024 loss period. Stronger revenue growth combined with restored profitability can improve internal funding capacity and provide a more durable base for performance over the next several quarters.
Read all positive factors
Indo Rama Synthetics (India) Limited (INDORAMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹19.12B
Dividend Yield3.08%
Average Volume (3M)46.84K
Price to Earnings (P/E)11.8
Beta (1Y)1.50
Revenue Growth-1.72%
EPS Growth119.83%
CountryIN
Employees1,443
SectorGeneral
Sector StrengthN/A
IndustryManufacturing - Textiles
Share Statistics
EPS (TTM)6.18
Shares Outstanding261,113,160
10 Day Avg. Volume57,232
30 Day Avg. Volume46,836
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.64
Price to Sales (P/S)0.17
P/FCF Ratio7.74
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
Indo Rama Synthetics (India) Limited Business Overview & Revenue Model
Company Description
Indo Rama Synthetics (India) Limited, founded in 1986 and headquartered in Gurugram, India, specializes in the production and distribution of polyester materials. The company provides a diverse portfolio of polyester products, encompassing polyest...
How the Company Makes Money
INDORAMA makes money primarily by manufacturing and selling polyester-based products, with revenues driven by volumes sold and realized selling prices across its product portfolio. Key revenue streams include: (1) Polyester staple fibre (PSF): sal...
Indo Rama Synthetics (India) Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
45
Neutral
Cash Flow
54
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 45.41B | 49.10B | 42.59B | 36.96B | 39.33B | 40.38B |
| Gross Profit | 10.06B | 11.43B | 9.03B | 3.95B | 493.60M | 5.08B |
| EBITDA | 3.40B | 3.28B | 1.79B | -327.10M | 662.00M | 3.02B |
| Net Income | 1.61B | 1.50B | 14.00M | -2.03B | -245.60M | 2.69B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 32.44B | 29.36B | 29.07B | 27.13B | 21.05B |
| Cash, Cash Equivalents and Short-Term Investments | 182.60M | 6.77B | 300.40M | 293.70M | 614.00M | 123.20M |
| Total Debt | 0.00 | 11.40B | 11.36B | 13.39B | 8.90B | 3.58B |
| Total Liabilities | -5.19B | 27.25B | 25.67B | 25.39B | 21.40B | 15.06B |
| Stockholders Equity | 5.19B | 5.19B | 3.68B | 3.68B | 5.73B | 5.99B |
Cash Flow | ||||||
| Free Cash Flow | 814.70M | 1.10B | 3.52B | -3.57B | -4.46B | 1.20B |
| Operating Cash Flow | 914.60M | 1.34B | 3.91B | -967.30M | -809.90M | 2.00B |
| Investing Cash Flow | -53.30M | -140.50M | -363.40M | -2.58B | -3.48B | -754.40M |
| Financing Cash Flow | -1.06B | -1.27B | -3.54B | 3.22B | 4.79B | -1.23B |
Indo Rama Synthetics (India) Limited Technical Analysis
Positive
48.39
Price Trends
55.38
Positive
48.17
Positive
45.01
Positive
Market Momentum
4.01
Negative
73.91
Negative
73.62
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDORAMA, the sentiment is Positive. The current price of 48.39 is below the 20-day moving average (MA) of 61.60, below the 50-day MA of 55.38, and above the 200-day MA of 45.01, indicating a bullish trend. The MACD of 4.01 indicates Negative momentum. The RSI at 73.91 is Negative, neither overbought nor oversold. The STOCH value of 73.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:INDORAMA.
Indo Rama Synthetics (India) Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹13.29B | 9.04 | ― | 1.81% | -0.91% | 155.80% | |
73 Outperform | ₹3.65B | 10.23 | ― | ― | -6.94% | 140.06% | |
72 Outperform | ₹6.03B | 6.31 | ― | ― | 51.22% | 269.24% | |
62 Neutral | ₹19.12B | 11.81 | ― | 3.08% | -1.72% | 119.83% | |
62 Neutral | ₹34.46B | 18.07 | ― | 0.32% | 0.22% | 34.33% | |
56 Neutral | ₹10.39B | 16.42 | ― | 2.38% | -5.08% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:INDORAMA
Indo Rama Synthetics (India) Limited
73.21
19.81
37.10%
IN:CENTENKA
Century Enka Limited
608.25
114.33
23.15%
IN:FILATEX
Filatex India Ltd
77.61
21.93
39.39%
IN:GINNIFILA
Ginni Filaments Limited.
42.61
-4.11
-8.80%
IN:PASUPTAC
Pasupati Acrylon Limited
67.62
25.09
58.99%
IN:RSWM
RSWM Ltd
220.60
62.60
39.62%
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.