Indo National Limited (NIPPOBATRY) Fair Value & Analysis
Industrials · IN · Market cap ₹2.6B
Fair value as of: Jul 3, 2026
From 9 valuation models · updated today
Share price −2.3% over the past month.
Price vs Fair Value (12 months)
12‑month range ₹259.25 – ₹489.40 · fair‑value band ₹120.27 – ₹255.77 · the ₹355.10 price screens above the ₹188.02 fair value. As of Jul 3, 2026.
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Indo National Limited (NIPPOBATRY) currently trades at ₹355.10, while our model-based Fair Value estimate is ₹188.02 — implying the stock looks roughly 47.1% overvalued today. We read business quality at 49/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: medium).
Over the trailing twelve months, Indo National Limited generated revenue of ₹4.4B at a net margin of -1.2%. Revenue grew 7.3% year over year. It earns a return on equity of -2.2%. Net debt stands at ₹284M. Fundamentals as of Jul 3, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.
About the company
Indo National Limited manufactures and distributes dry cell batteries, rechargeable batteries, flashlights, and general lighting products in India. It offers alkaline and zinc batteries; battery operated and rechargeable torches; LED lighting, including battens, spotlight, down and panel light, rechargeable bulbs, and regular bulbs. The company also provides spike guards and flex boxes; mosquito swatters, and liquid vaporizer; electrical products; other FMCG products; and razors and blades under DORCO brand. The company was formerly known as Nippo Batteries Co. Ltd. and changed its name to Indo National Limited in April 2013. Indo National Limited was incorporated in 1972 and is headquartered in Chennai, India.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Indo National Limited reported revenue of ₹4.5B in FY2026 versus ₹5.7B in FY2022, a compound −5.6%/yr. Reported net income was −₹263M in FY2026.
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.