Indobell Insulations Q3 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹41 Cr
- P/E
- 52.47
- ROE
- 4.92%
- PEG
- -11.26
- Price to sales
- 2.64
- Debt to equity
- 0.06
- 52W high / low
- ₹89.0 / ₹46.0
- EBITDA margin
- -0.71%
- Net profit margin
- 5.02%
- Promoter holding
- 65.00%
- Sales (last year)
- ₹16 Cr
Incorporated in May 1972, Indobell Insulation Limited manufactures insulation products.[1]
Guidance scorecard · Q3 FY26 call
What Indobell Insulations Ltd's management guided
and where it ranks in Industrial Products
Industrial Products
RevenueQ3 FY26 call
10–20%- Company expects growth driven by massive expansions in industries like iron and steel (e.g., Asansol plant doubling capacity), refineries, oil & gas, power plants, and fertilizer sectors.
- Increased project-based work for insulation setup as every new plant requires proper insulation for operation.
- Focus on two key verticals for revenue growth: maintenance jobs and jacket-making business.
- Expansion in export orders with improved compliance to international standards, targeting non-carcinogenic products and technical certifications.
- Growing presence in new verticals such as oil & gas (e.g., HPCL contract in October 2025) and marine insulation.
- Order book execution planned for 2026-2028 with domestic orders roughly twice the export order book.
2 more points from Indobell Insulations Ltd's call on revenue
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MarginsQ3 FY26 call
Up 0–2%See what Indobell Insulations Ltd said on margins — free account, 30 seconds.
CapexQ3 FY26 call
Planned- Indobell is planning to double the capacity for manufacturing nodulated wool, particularly targeting export markets after meeting specific international standards.
- The company is investing in software and in-house technical design capabilities (NX Siemens software) to enhance jacket design and manufacturing efficiency.
- They are adding updated machines, including modern spray machines, and exploring the use of CNC robotic systems for pipelines to improve installation processes.
2 more points from Indobell Insulations Ltd's call on capex
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FundraisingQ3 FY26 call
See what Indobell Insulations Ltd said on fundraising — free account, 30 seconds.
Order bookQ3 FY26 call
Rising- Current export order book stands at around USD 700,000.
- Recently bagged 2 new export orders uploaded on the exchange.
- Domestic order book is roughly double the size of the export order book.
- Recently secured a domestic order worth INR 6.64 crore from BHEL.
- Execution of orders started in 2026, with some deliveries as early as November 2025.
2 more points from Indobell Insulations Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of Indobell Insulations Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Indobell Insulations Ltd
Quarterly Results
Quarter-by-quarter operating performance
Financials of Indobell Insulations Ltd
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales + | 9.61 | 20.77 | 17.82 | 25.72 | 15.58 |
| Expenses + | 8.78 | 18.90 | 15.74 | 22.84 | 15.80 |
| Operating Profit | 0.83 | 1.87 | 2.08 | 2.88 | -0.22 |
| OPM % | 8.64% | 9.00% | 11.67% | 11.20% | -1.41% |
| Other Income + | 0.16 | 0.29 | 0.10 | 0.77 | 1.59 |
| Interest | 0.52 | 0.69 | 0.51 | 0.40 | 0.07 |
| Depreciation | 0.26 | 0.26 | 0.27 | 0.22 | 0.27 |
| Profit before tax | 0.21 | 1.21 | 1.40 | 3.03 | 1.03 |
| Tax % | 23.81% | 26.45% | 25.71% | 27.72% | 23.30% |
| Net Profit + | 0.15 | 0.90 | 1.03 | 2.19 | 0.80 |
| EPS in Rs | 2.20 | 13.19 | 2.52 | 3.48 | 1.27 |
| Dividend Payout % | 45.33% | 15.11% | 11.94% | 57.53% | 0.00% |
Financials of Indobell Insulations Ltd
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.68 | 0.68 | 4.10 | 6.30 | 6.30 |
| Reserves | 3.21 | 4.04 | 1.58 | 9.16 | 9.92 |
| Borrowings + | 6.13 | 4.25 | 5.27 | 2.52 | 0.17 |
| Other Liabilities + | 4.87 | 3.35 | 4.34 | 7.57 | 3.49 |
| Total Liabilities | 14.89 | 12.32 | 15.29 | 25.55 | 19.88 |
| Fixed Assets + | 2.04 | 2.04 | 1.89 | 1.78 | 2.61 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.07 | 0.14 | 0.17 | 0.17 | 0.17 |
| Other Assets + | 12.78 | 10.14 | 13.23 | 23.60 | 17.10 |
| Total Assets | 14.89 | 12.32 | 15.29 | 25.55 | 19.88 |
Financials of Indobell Insulations Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | -2.82 | 3.13 | 0.25 | -4.32 | 4.50 |
| Cash from Investing Activity + | -0.07 | -0.55 | -0.56 | -0.22 | -1.34 |
| Cash from Financing Activity + | 3.27 | -2.50 | 0.43 | 5.66 | -2.92 |
| Net Cash Flow | 0.38 | 0.08 | 0.11 | 1.12 | 0.24 |
| Free Cash Flow | -2.95 | 2.87 | 0.13 | -4.43 | 3.42 |
| CFO/OP | -327% | 177% | 28% | -124% | -2,218% |
Financials of Indobell Insulations Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 97.23 | 67.66 | 134.98 | 201.94 | 105.89 |
| Inventory Days | 388.25 | 73.42 | 93.27 | 64.28 | 230.42 |
| Days Payable | 308.43 | 54.74 | 86.66 | 92.51 | 65.55 |
| Cash Conversion Cycle | 177.05 | 86.34 | 141.59 | 173.71 | 270.76 |
| Working Capital Days | 64.19 | 31.81 | 43.01 | 141.35 | 244.11 |
| ROCE % | 20.01% | 19.08% | 23.71% | 6.40% |
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What Indobell Insulations Ltd's management said in earlier quarters
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