Modern Insulator Share Price ₹463 | P/E 22.5

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Modern Insulator

Quarter-by-quarter operating performance

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales +	107	123	90	106	107	140	104	115	125	160	141	176	199
Expenses +	97	111	85	101	97	125	99	110	115	142	128	158	168
Operating Profit	10	12	4	5	11	15	5	5	10	18	13	19	32
OPM %	9%	10%	5%	5%	10%	11%	5%	4%	8%	11%	9%	11%	16%
Other Income +	3	3	3	3	3	3	6	10	5	-2	5	7	4
Interest	1	1	1	1	1	1	1	1	1	1	1	2	1
Depreciation	2	2	2	2	2	2	2	2	2	2	2	2	2
Profit before tax	10	11	3	6	10	15	8	12	12	13	14	22	32
Tax %	3%	-10%	-14%	-7%	2%	-5%	1%	-6%	21%	34%	-6%	23%	24%
Net Profit +	10	12	4	6	10	16	8	13	9	9	15	17	24
EPS in Rs	2.11	2.64	0.81	1.31	2.13	3.41	1.60	2.77	1.97	1.85	3.23	3.52	5.12

Financials of Modern Insulator

Annual income statement trend

	Mar 2014	Mar 2015	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales +	459	418	461	440	398	442	431	443	503	677
Expenses +	418	381	419	404	359	419	406	408	466	596
Operating Profit	41	37	42	36	40	23	25	35	37	81
OPM %	9%	9%	9%	8%	10%	5%	6%	8%	7%	12%
Other Income +	-6	5	11	6	15	12	14	12	20	15
Interest	12	19	13	13	9	5	4	3	4	6
Depreciation	8	9	8	10	11	9	9	9	9	10
Profit before tax	16	14	32	19	34	21	26	35	45	81
Tax %	10%	-19%	8%	-20%	1%	-7%	-9%	-4%	14%
Net Profit +	14	17	29	22	34	22	28	36	39	65
EPS in Rs				4.77	7.25	4.67	5.93	7.65	8.19	13.72
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%

Financials of Modern Insulator

Capital structure and asset base

	Mar 2014	Mar 2015	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	22	22	22	47	47	47	47	47	47	47
Reserves	197	214	243	258	291	313	342	378	416	448
Borrowings +	49	61	59	101	24	26	8	19	25	33
Other Liabilities +	85	84	78	124	128	119	107	110	115	139
Total Liabilities	353	380	402	530	491	506	504	554	604	667
Fixed Assets +	132	138	135	192	182	175	168	163	172	171
CWIP	2	2	2	0	0	0	4	2	1	4
Investments	20	17	20	2	9	10	5	19	46	57
Other Assets +	199	223	245	336	299	320	326	370	384	435
Total Assets	353	380	402	530	491	506	504	554	604	667

Financials of Modern Insulator

Operating, investing and financing cash movement

	Mar 2014	Mar 2015	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	44	-2	9	27	53	14	23	12	40
Cash from Investing Activity +	-19	-13	-8	-34	35	-8	-4	-16	-41
Cash from Financing Activity +	-23	12	-1	-7	-87	-3	-22	8	2
Net Cash Flow	1	-3	0	-14	1	3	-3	3	0
Free Cash Flow	35	-18	4	16	57	15	18	7	22
CFO/OP	105%	-5%	22%	77%	133%	61%	92%	33%	120%

Financials of Modern Insulator

Working capital efficiency and return ratios

	Mar 2014	Mar 2015	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	52	56	61	70	86	83	89	93	88
Inventory Days	125	214	156	415	345	332	306	271	325
Days Payable	55	66	54	147	126	108	83	85	99
Cash Conversion Cycle	122	204	163	338	305	307	312	279	314
Working Capital Days	45	51	51	80	123	125	154	166	147
ROCE %		12%	13%		10%	6%	7%	9%	9%

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