IEL Ltd (INDXTRA) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of IEL Ltd ₹0.60, price ₹5.42, upside -88.9%, quality 32 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹0.1061 – ₹14.62 · fair‑value band ₹0.4200 – ₹0.7800 · the ₹5.42 price screens above the ₹0.6000 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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IEL Limited engages in the trading of chemicals and colorants. The company provides dyes, pigments, intermediates, and commodities. It also provides marketing support services. The company was formerly known as Indian Extractions Limited and changed its name to IEL Limited in January 2019.
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IEL Limited engages in the trading of chemicals and colorants. The company provides dyes, pigments, intermediates, and commodities. It also provides marketing support services. The company was formerly known as Indian Extractions Limited and changed its name to IEL Limited in January 2019. IEL Limited was incorporated in 1956 and is based in Ahmedabad, India.
Stock analysis
IEL Ltd (INDXTRA) currently trades at ₹5.42, while our model-based Fair Value estimate is ₹0.6000, implying the stock looks roughly 803.3% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ₹2.31 per share, and 0 of the 9 models we run sit above the ₹5.42 price.
Bear case: the Multiples group reads lowest at ₹0.2400, and 9 of the 9 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹0.4200 (bear) to ₹0.7800 (bull), the price of ₹5.42 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 32/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
IEL Ltd reported revenue of ₹9.7M in FY2026 versus ₹6.3M in FY2022, a compound +11.3%/yr. Reported net income was ₹1.8M in FY2026, compounding −12.8%/yr from FY2022.
Key figures
Market cap ₹901M (≈ $9.4M) · P/E ratio 542.0 · EPS (TTM) ₹0.0100 · Net margin 19.0% · Return on equity 0.4% · Return on assets (EBIT) 9.6% · Operating margin 97.7% · Revenue (TTM) ₹9.7M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −54% fair-value upside, at −89%, INDXTRA screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹0.1200 to ₹2.31). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ₹0.4200Fair Value ₹0.6000Bull ₹0.7800
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.0049 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−26.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−26.8%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−25% → −7%
⚠ Revenue per share shrinking 39.8%/yr over ~5Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Chemicals · 709 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score32 · Bottom 25%
Fair Value upside−89% · Bottom 25%
Profitability
Return on equity (TTM)0% · Below median
Return on assets0% · Bottom 25%
Net margin (TTM)19% · Top 25%
Operating margin (TTM)98% · Top 25%
Growth and dividend
Revenue growth62% · Top 25%
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
P/E (TTM)542.0× · Priciest 25%
P/B2.00× · Pricier than median
P/S (TTM)92.90× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 21
PAST (return on equity)2· sector 23
HEALTH (low debt)99· sector 95
DIVIDEND (yield)0· sector 29
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "IEL Ltd Fair Value". https://www.fairvalue-calculator.com/stock/INDXTRA
Frequently asked questions
Is IEL Ltd (INDXTRA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹0.6000 versus a price of ₹5.42, about −89% upside (overvalued).
What is the fair value of INDXTRA?
Our model-based fair value for IEL Ltd is ₹0.6000 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹5.42.
What is the quality score of INDXTRA?
IEL Ltd has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for IEL Ltd (INDXTRA)?
Our model-based price target is the fair value of ₹0.6000 (as of Sep 24, 2026) from 9 valuation models. Cautious scenario ₹0.4200, optimistic scenario ₹0.7800. It is a calculation from audited fundamentals, not an analyst target.
What is the IEL Ltd stock forecast for 2026?
Our models put fair value at ₹0.6000, about −89% upside versus a price of ₹5.42 (overvalued). Cautious scenario ₹0.4200, optimistic scenario ₹0.7800. The calculation is refreshed regularly with new filings.
What is the revenue of IEL Ltd (INDXTRA)?
IEL Ltd reported trailing-twelve-month revenue of about ₹9.7M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of IEL Ltd (INDXTRA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IEL Ltd it is ₹0.6000 per share (as of Sep 24, 2026), against a price of ₹5.42. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is IEL Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, INDXTRA trades above its calculated fair value: price ₹5.42, fair value ₹0.6000, a gap of about −89% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of INDXTRA?
No. The price is what the market pays today (₹5.42); the fair value is what the company's own numbers justify (₹0.6000). For IEL Ltd the two are ₹4.82 per share apart. That gap is exactly why we show both numbers side by side.
How much is IEL Ltd worth?
The market values IEL Ltd at about ₹901M (market capitalisation, as of Sep 24, 2026). Per share that is ₹5.42; our models calculate a fair value of ₹0.6000 per share.
What do the bullish and bearish scenarios say about INDXTRA?
Our models span a range for IEL Ltd: cautious scenario ₹0.4200, base ₹0.6000, optimistic ₹0.7800 per share (as of Sep 24, 2026, price ₹5.42). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of IEL Ltd (INDXTRA)?
Balance-sheet figures for IEL Ltd (as of Sep 24, 2026): return on equity 0.4%, debt of 0.02 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is INDXTRA from its 52-week high?
IEL Ltd trades at ₹5.42, about 43% below its 52-week high of ₹9.54 and 3% above the low of ₹5.26 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of ₹0.6000 is for.
Which stocks are comparable to IEL Ltd?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is IEL Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price ₹5.42, calculated fair value ₹0.6000 (−89%), Quality Score 32/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of INDXTRA calculated?
We run IEL Ltd through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹0.6000, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.2 % above its aggregate fair value. IEL Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of IEL Ltd (INDXTRA)?
The closing price on Sep 24, 2026 was ₹5.42. Our model-based fair value is ₹0.6000, about −89% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IEL Ltd right now?
The price sits above even our optimistic bull case (₹0.7800). The favourable scenario is already priced in. Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (₹0.4200 to ₹0.7800) leaves room in how you read the outcome.
Key figures of IEL Ltd
How large is the market capitalisation of IEL Ltd (INDXTRA)?
The market capitalisation of IEL Ltd is ₹901M (≈ $9.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of IEL Ltd (INDXTRA)?
The price-to-earnings ratio of IEL Ltd is 542.0. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What are the earnings per share of IEL Ltd (INDXTRA)?
Earnings per share at IEL Ltd are ₹0.0100 (price ÷ EPS = P/E 542.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of IEL Ltd (INDXTRA)?
The net margin of IEL Ltd is 19.0% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of IEL Ltd (INDXTRA)?
The return on equity (ROE) of IEL Ltd is 0.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of IEL Ltd (INDXTRA)?
On an EBIT basis the return on assets of IEL Ltd is 9.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of IEL Ltd (INDXTRA)?
The operating margin of IEL Ltd is 97.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IEL Ltd (INDXTRA)?
Revenue at IEL Ltd is growing +61.9% versus a year earlier (3y avg −54.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at IEL Ltd (INDXTRA)?
Earnings per share at IEL Ltd are growing −42.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does IEL Ltd (INDXTRA) generate?
The free cash flow of IEL Ltd is −₹121M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does IEL Ltd (INDXTRA) carry?
The net debt of IEL Ltd is ₹8.3M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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