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Indo National Limited (NIPPOBATRY) AI Stock Analysis
Indo National Limited
(NSE:NIPPOBATRY)
The score is held down primarily by weakened and volatile profitability (latest year back to losses, revenue declining) and a bearish technical setup (below key moving averages with negative MACD). A low-leverage balance sheet and currently positive free cash flow provide some support, while valuation remains constrained by a loss-making P/E despite a modest dividend yield.
Indo National Limited (NIPPOBATRY) vs. iShares MSCI India ETF (INDA)
- Market Cap
- INR 2.23B
- Dividend Yield
- 1.24%
- Average Volume (3M)
- 255
- Price to Earnings (P/E)
- -8.9
- Beta (1Y)
- 1.26
- Revenue Growth
- -3.56%
- EPS Growth
- -186.74%
- Country
- India
- Employees
- 523
- Sector
- General
- Sector Strength
- 55
- Industry
- Electrical Equipment & Parts
Indo National Limited Business Overview & Revenue Model
Company Description
Indo National Limited, an Indian enterprise founded in 1972 and headquartered in Chennai, specializes in the production and nationwide distribution of a diverse range of dry cell batteries and illumination products through its subsidiaries. The compa...
How the Company Makes Money
Indo National Limited makes money primarily by selling branded consumer batteries and battery-adjacent products into the mass market. Its core revenue stream is the sale of dry-cell batteries (commonly used in household devices such as remote control...
Indo National Limited Financial Statement Overview
Summary
Financials are pressured by a return to net losses and negative operating profit in the latest annual period, alongside declining revenue in the last two years and highly volatile margins. Positives include conservative leverage (low debt-to-equity) and currently positive operating/free cash flow, but cash-flow consistency has been uneven, limiting confidence in earnings durability.
Income Statement
34NegativeBalance Sheet
66PositiveCash Flow
45Neutral| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.49B | 4.52B | 4.67B | 6.41B | 5.72B | 5.70B |
| Gross Profit | 1.10B | 844.83M | 1.76B | 2.64B | 1.97B | 2.15B |
| EBITDA | -154.09M | -105.41M | 1.68B | 489.23M | 200.91M | 448.59M |
| Net Income | -252.28M | -263.40M | 1.24B | 96.19M | -56.93M | 79.44M |
Balance Sheet | ||||||
| Total Assets | 0 | 4.31B | 7.21B | 5.99B | 5.15B | 5.11B |
| Cash, Cash Equivalents and Short-Term Investments | 60.34M | 60.34M | 68.83M | 9.45M | 50.84M | 61.70M |
| Total Debt | 0 | 343.87M | 608.02M | 1.46B | 1.37B | 1.25B |
| Total Liabilities | -3.08B | 1.23B | 2.51B | 3.26B | 2.53B | 2.36B |
| Stockholders Equity | 3.08B | 3.03B | 4.38B | 2.36B | 2.31B | 2.40B |
Cash Flow | ||||||
| Free Cash Flow | 720.54M | 130.28M | -974.11M | -11.71M | 50.79M | -168.56M |
| Operating Cash Flow | 789.65M | 410.64M | -557.56M | 435.51M | 359.47M | 350.37M |
| Investing Cash Flow | -692.90M | 135.43M | 804.73M | -382.57M | -276.15M | -354.09M |
| Financing Cash Flow | -154.23M | -556.50M | -187.79M | -94.33M | -94.18M | -197.40M |
Indo National Limited Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NIPPOBATRY, the sentiment is Negative. The current price of 303.15 is below the 20-day moving average (MA) of 309.70, below the 50-day MA of 317.22, and below the 200-day MA of 334.66, indicating a bearish trend. The MACD of -4.49 indicates Positive momentum. The RSI at 44.76 is Neutral, neither overbought nor oversold. The STOCH value of 33.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NIPPOBATRY.
Indo National Limited Peers Comparison
Overall Rating
IN:ARE&M76Outperform
IN:EVEREADY67Neutral
IN:SERVOTECH63Neutral
IN:VGUARD62Neutral- IN:NIPPOBATRY44Neutral
IN:EXICOM44Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| IN:ARE&M | 76Outperform | INR 125.71B | 13.64 | ― | 6.68% | 12.65% | 7.16% |
| IN:EVEREADY | 67Neutral | INR 22.65B | 12.66 | ― | 0.80% | 8.74% | 113.98% |
| IN:SERVOTECH | 63Neutral | INR 13.96B | 37.40 | ― | 0.03% | 7.40% | 15.11% |
| IN:VGUARD | 62Neutral | INR 122.42B | 29.87 | ― | 0.54% | 13.36% | 26.08% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| IN:NIPPOBATRY | 44Neutral | INR 2.27B | -8.86 | ― | 1.24% | -3.56% | -186.74% |
| IN:EXICOM | 44Neutral | INR 17.44B | -6.50 | ― | ― | 55.63% | -13.55% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| IN:NIPPOBATRY | Indo National Limited | 303.15 | -129.86 | -29.99% | |
| IN:ARE&M | Amara Raja Energy & Mobility Ltd | 686.85 | -310.22 | -31.11% | |
| IN:EVEREADY | Eveready Industries India Ltd | 311.60 | -66.82 | -17.66% | |
| IN:EXICOM | Exicom Tele-Systems Ltd. | 125.35 | -12.35 | -8.97% | |
| IN:SERVOTECH | Servotech Power Systems Ltd. | 62.09 | -57.16 | -47.93% | |
| IN:VGUARD | V-Guard Industries Limited | 280.20 | -88.89 | -24.08% |
Indo National Limited Corporate Events
Indo National Holds 53rd AGM Virtually, Audit Reports Clear of Qualifications
Indo National Limited reported that its 53rd Annual General Meeting was held on September 28, 2026 via video conferencing, in line with Ministry of Corporate Affairs and SEBI guidelines for virtual shareholder meetings. The session, chaired by indepe...
Indo-National Sets September Virtual AGM, Proposes Dividend and Director Pay
Indo-National Limited has scheduled its 53rd Annual General Meeting for September 28, 2026, to be conducted via video conferencing in line with MCA and SEBI guidelines, where shareholders will review the audited standalone and consolidated financial...
Indo National Sets September AGM, Proposes Dividend and Board Fee Changes
Indo National Limited has scheduled its 53rd Annual General Meeting for September 28, 2026, to be conducted via video conferencing and other audio-visual means in line with MCA and SEBI guidelines. Shareholders will review and adopt the audited stand...
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.
Date of analysis: Aug 19, 2026