DE Nora India Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: May 31, 2025, 9:26 pm

Market Cap	440 Cr.
Current Price	829
High / Low	2,025/675
Stock P/E	260
Book Value	226
Dividend Yield	0.24 %
ROCE	2.30 %
ROE	1.41 %
Face Value	10.0
PEG Ratio	-12.12

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for DE Nora India Ltd

Competitors of DE Nora India Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
HEG Ltd	10,102 Cr.	524	620/331	87.8	231	0.86 %	3.96 %	2.59 %	2.00
Graphite India Ltd	10,670 Cr.	546	623/366	23.3	300	2.01 %	10.2 %	7.98 %	2.00
DE Nora India Ltd	440 Cr.	829	2,025/675	260	226	0.24 %	2.30 %	1.41 %	10.0
Industry Average	7,070.67 Cr	633.00		123.70	252.33	1.04%	5.49%	3.99%	4.67

All Competitor Stocks of DE Nora India Ltd

Quarterly Result

Metric	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Sales	38.90	12.38	14.37	19.19	27.63	9.14	19.08	29.40	16.18	12.76	18.13	17.56	20.13
Expenses	24.68	10.09	12.61	13.99	12.21	9.35	11.44	21.91	9.93	9.82	14.92	28.95	16.30
Operating Profit	14.22	2.29	1.76	5.20	15.42	-0.21	7.64	7.49	6.25	2.94	3.21	-11.39	3.83
OPM %	36.56%	18.50%	12.25%	27.10%	55.81%	-2.30%	40.04%	25.48%	38.63%	23.04%	17.71%	-64.86%	19.03%
Other Income	0.30	0.47	0.61	1.49	1.29	1.16	1.14	1.19	1.71	1.34	1.65	1.50	1.37
Interest	0.15	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.65	0.64	0.24	0.25	0.24	0.25	0.25	0.29	0.35	0.40	0.42	0.44	0.45
Profit before tax	13.72	2.11	2.13	6.44	16.47	0.70	8.53	8.39	7.61	3.88	4.44	-10.33	4.75
Tax %	26.46%	25.59%	26.29%	25.31%	25.14%	25.71%	25.56%	22.77%	25.76%	25.77%	26.35%	-24.30%	29.68%
Net Profit	10.10	1.57	1.58	4.81	12.32	0.52	6.35	6.48	5.66	2.88	3.28	-7.81	3.34
EPS in Rs	19.03	2.96	2.98	9.06	23.21	0.98	11.96	12.21	10.66	5.43	6.18	-14.71	6.29

Last Updated: May 31, 2025, 9:25 am

Below is a detailed analysis of the quarterly data for DE Nora India Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Sales, as of Mar 2025, the value is 20.13 Cr.. The value appears strong and on an upward trend. It has increased from 17.56 Cr. (Dec 2024) to 20.13 Cr., marking an increase of 2.57 Cr..
For Expenses, as of Mar 2025, the value is 16.30 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 28.95 Cr. (Dec 2024) to 16.30 Cr., marking a decrease of 12.65 Cr..
For Operating Profit, as of Mar 2025, the value is 3.83 Cr.. The value appears strong and on an upward trend. It has increased from -11.39 Cr. (Dec 2024) to 3.83 Cr., marking an increase of 15.22 Cr..
For OPM %, as of Mar 2025, the value is 19.03%. The value appears strong and on an upward trend. It has increased from -64.86% (Dec 2024) to 19.03%, marking an increase of 83.89%.
For Other Income, as of Mar 2025, the value is 1.37 Cr.. The value appears to be declining and may need further review. It has decreased from 1.50 Cr. (Dec 2024) to 1.37 Cr., marking a decrease of 0.13 Cr..
For Interest, as of Mar 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Dec 2024) which recorded 0.00 Cr..
For Depreciation, as of Mar 2025, the value is 0.45 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 0.44 Cr. (Dec 2024) to 0.45 Cr., marking an increase of 0.01 Cr..
For Profit before tax, as of Mar 2025, the value is 4.75 Cr.. The value appears strong and on an upward trend. It has increased from -10.33 Cr. (Dec 2024) to 4.75 Cr., marking an increase of 15.08 Cr..
For Tax %, as of Mar 2025, the value is 29.68%. The value appears to be increasing, which may not be favorable. It has increased from -24.30% (Dec 2024) to 29.68%, marking an increase of 53.98%.
For Net Profit, as of Mar 2025, the value is 3.34 Cr.. The value appears strong and on an upward trend. It has increased from -7.81 Cr. (Dec 2024) to 3.34 Cr., marking an increase of 11.15 Cr..
For EPS in Rs, as of Mar 2025, the value is 6.29. The value appears strong and on an upward trend. It has increased from -14.71 (Dec 2024) to 6.29, marking an increase of 21.00.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 3, 2025, 2:49 pm

Metric	Dec 2013	Dec 2014	Mar 2016n n 15m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	35.81	30.52	50.83	26.67	27.03	32.78	48.23	50.54	74.17	73.58	73.80	68.58
Expenses	28.92	25.38	35.33	24.62	24.98	32.30	37.65	42.08	51.27	48.81	52.41	69.98
Operating Profit	6.89	5.14	15.50	2.05	2.05	0.48	10.58	8.46	22.90	24.77	21.39	-1.40
OPM %	19.24%	16.84%	30.49%	7.69%	7.58%	1.46%	21.94%	16.74%	30.88%	33.66%	28.98%	-2.04%
Other Income	1.08	2.24	3.77	3.31	3.16	3.99	2.43	1.78	0.96	3.83	5.16	5.86
Interest	0.34	0.16	0.12	0.06	0.01	0.12	0.06	0.06	0.23	0.08	0.18	0.00
Depreciation	0.71	1.20	1.16	0.85	2.13	2.53	2.59	2.60	2.67	1.37	1.15	1.70
Profit before tax	6.92	6.02	17.99	4.45	3.07	1.82	10.36	7.58	20.96	27.15	25.22	2.76
Tax %	30.92%	29.40%	33.41%	33.03%	44.95%	12.64%	21.53%	25.46%	26.29%	25.30%	24.62%	38.41%
Net Profit	4.78	4.25	11.98	2.98	1.69	1.59	8.13	5.65	15.45	20.28	19.01	1.69
EPS in Rs	9.00	8.01	22.57	5.61	3.18	3.00	15.31	10.64	29.10	38.20	35.81	3.18
Dividend Payout %	44.44%	18.74%	17.73%	35.64%	31.42%	0.00%	0.00%	9.40%	3.44%	5.24%	5.59%	0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-43.29%	-5.92%	411.32%	-30.50%	173.45%	31.26%	-6.26%	-91.11%
Change in YoY Net Profit Growth (%)	0.00%	37.37%	417.24%	-441.83%	203.96%	-142.19%	-37.52%	-84.85%

DE Nora India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2017-2018 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	8%
5 Years:	7%
3 Years:	-3%
TTM:	-7%

Compounded Profit Growth
10 Years:	-9%
5 Years:	-27%
3 Years:	-52%
TTM:	-91%

Stock Price CAGR
10 Years:	20%
5 Years:	34%
3 Years:	4%
1 Year:	-45%

Return on Equity
10 Years:	12%
5 Years:	13%
3 Years:	12%
Last Year:	1%

Last Updated: Unknown

Balance Sheet

Last Updated: May 13, 2025, 3:38 pm

Month	Dec 2013	Dec 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5.31	5.31	5.31	5.31	5.31	5.31	5.31	5.31	5.31	5.31	5.31	5.31
Reserves	30.63	33.96	43.35	46.62	47.07	47.92	56.02	61.67	76.57	96.37	114.38	114.84
Borrowings	0.00	0.00	0.00	0.00	0.00	0.00	0.77	0.00	0.00	0.00	0.00	0.00
Other Liabilities	12.48	9.26	11.75	11.82	10.70	12.09	13.12	12.63	11.76	13.98	6.98	22.16
Total Liabilities	48.42	48.53	60.41	63.75	63.08	65.32	75.22	79.61	93.64	115.66	126.67	142.31
Fixed Assets	7.23	6.85	7.22	7.25	13.80	11.93	10.21	9.59	7.45	7.89	13.45	14.53
CWIP	0.88	1.25	1.90	7.35	0.00	0.26	0.59	0.00	0.64	2.20	1.95	2.87
Investments	7.66	14.31	19.21	20.45	20.27	13.60	4.73	3.95	23.27	41.66	54.50	51.87
Other Assets	32.65	26.12	32.08	28.70	29.01	39.53	59.69	66.07	62.28	63.91	56.77	73.04
Total Assets	48.42	48.53	60.41	63.75	63.08	65.32	75.22	79.61	93.64	115.66	126.67	142.31

Below is a detailed analysis of the balance sheet data for DE Nora India Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Equity Capital, as of Mar 2025, the value is 5.31 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 5.31 Cr..
For Reserves, as of Mar 2025, the value is 114.84 Cr.. The value appears strong and on an upward trend. It has increased from 114.38 Cr. (Mar 2024) to 114.84 Cr., marking an increase of 0.46 Cr..
For Borrowings, as of Mar 2025, the value is 0.00 Cr.. The value remains steady. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. There is no change compared to the previous period (Mar 2024) which recorded 0.00 Cr..
For Other Liabilities, as of Mar 2025, the value is 22.16 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 6.98 Cr. (Mar 2024) to 22.16 Cr., marking an increase of 15.18 Cr..
For Total Liabilities, as of Mar 2025, the value is 142.31 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 126.67 Cr. (Mar 2024) to 142.31 Cr., marking an increase of 15.64 Cr..
For Fixed Assets, as of Mar 2025, the value is 14.53 Cr.. The value appears strong and on an upward trend. It has increased from 13.45 Cr. (Mar 2024) to 14.53 Cr., marking an increase of 1.08 Cr..
For CWIP, as of Mar 2025, the value is 2.87 Cr.. The value appears strong and on an upward trend. It has increased from 1.95 Cr. (Mar 2024) to 2.87 Cr., marking an increase of 0.92 Cr..
For Investments, as of Mar 2025, the value is 51.87 Cr.. The value appears to be declining and may need further review. It has decreased from 54.50 Cr. (Mar 2024) to 51.87 Cr., marking a decrease of 2.63 Cr..
For Other Assets, as of Mar 2025, the value is 73.04 Cr.. The value appears strong and on an upward trend. It has increased from 56.77 Cr. (Mar 2024) to 73.04 Cr., marking an increase of 16.27 Cr..
For Total Assets, as of Mar 2025, the value is 142.31 Cr.. The value appears strong and on an upward trend. It has increased from 126.67 Cr. (Mar 2024) to 142.31 Cr., marking an increase of 15.64 Cr..

Notably, the Reserves (114.84 Cr.) exceed the Borrowings (0.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Dec 2013	Dec 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	-4.47	9.71	13.76	7.22	1.89	-6.05	-7.24	16.15	11.66	14.28	16.06	3.12
Cash from Investing Activity +	7.39	-7.77	-11.69	-3.29	-2.39	7.39	7.35	1.09	-16.12	-23.80	-13.61	0.74
Cash from Financing Activity +	-4.35	-2.79	-0.96	-2.58	-1.28	-0.64	0.77	-0.77	-0.53	-0.53	-1.06	-1.06
Net Cash Flow	-1.43	-0.85	1.11	1.35	-1.77	0.70	0.88	16.48	-4.99	-10.05	1.39	2.79

Free Cash Flow

Month	Dec 2013	Dec 2014	Mar 2016n n 15m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	6.89	5.14	15.50	2.05	2.05	0.48	9.81	8.46	22.90	24.77	21.39	-1.40

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Dec 2012	Dec 2013	Dec 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	52	131	139	75	82	64	61	97	79	58	84	51
Inventory Days	124	299	229	130	198	398	516	471	273	288	397	401
Days Payable	45	70	67	80	114	264	182	83	47	37	91	51
Cash Conversion Cycle	132	361	302	125	166	199	396	486	305	309	391	401
Working Capital Days	34	141	144	45	14	48	136	224	156	132	164	157
ROCE %	65%	21%	16%	41%	9%	6%	4%	18%	12%	28%	30%	22%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.52%	0.56%	0.56%	0.25%	0.19%	0.10%	0.09%
DIIs	0.00%	0.00%	0.00%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.22%	0.22%	0.22%
Public	46.32%	46.32%	46.32%	46.13%	46.32%	45.80%	45.76%	45.76%	46.07%	45.92%	46.00%	45.99%
No. of Shareholders	9,695	8,288	8,184	8,577	8,494	8,888	9,383	11,054	12,748	14,615	15,415	14,878

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	35.80	38.19	29.10	10.64	15.31
Diluted EPS (Rs.)	35.80	38.19	29.10	10.64	15.31
Cash EPS (Rs.)	37.96	40.77	34.13	15.54	20.19
Book Value[Excl.RevalReserv]/Share (Rs.)	225.46	191.53	154.24	126.16	115.53
Book Value[Incl.RevalReserv]/Share (Rs.)	225.46	191.53	154.24	126.16	115.53
Dividend / Share (Rs.)	2.00	2.00	1.00	1.00	0.00
Revenue From Operations / Share (Rs.)	139.01	138.60	139.71	95.20	90.94
PBDIT / Share (Rs.)	49.67	53.75	44.79	19.17	24.39
PBIT / Share (Rs.)	47.52	51.17	39.76	14.27	19.50
PBT / Share (Rs.)	47.52	51.15	39.48	14.27	19.50
Net Profit / Share (Rs.)	35.80	38.19	29.10	10.63	15.31
PBDIT Margin (%)	35.73	38.78	32.05	20.13	26.81
PBIT Margin (%)	34.18	36.92	28.45	14.98	21.44
PBT Margin (%)	34.18	36.90	28.25	14.98	21.44
Net Profit Margin (%)	25.75	27.55	20.83	11.17	16.83
Return on Networth / Equity (%)	15.88	19.94	18.86	8.42	13.25
Return on Capital Employeed (%)	21.07	26.61	25.77	11.30	16.85
Return On Assets (%)	15.00	17.53	16.49	7.09	10.80
Total Debt / Equity (X)	0.00	0.00	0.00	0.00	0.01
Asset Turnover Ratio (%)	0.60	0.70	0.85	0.65	0.68
Current Ratio (X)	14.48	7.61	7.06	5.38	4.48
Quick Ratio (X)	10.52	5.50	5.03	3.84	2.60
Inventory Turnover Ratio (X)	0.72	1.02	1.27	1.15	0.96
Dividend Payout Ratio (NP) (%)	5.58	2.61	3.43	0.00	0.00
Dividend Payout Ratio (CP) (%)	5.26	2.45	2.92	0.00	0.00
Earning Retention Ratio (%)	94.42	97.39	96.57	0.00	0.00
Cash Earning Retention Ratio (%)	94.74	97.55	97.08	0.00	0.00
Interest Coverage Ratio (X)	0.00	2194.98	159.15	0.00	0.00
Interest Coverage Ratio (Post Tax) (X)	0.00	1560.69	104.42	0.00	0.00
Enterprise Value (Cr.)	858.53	434.79	190.91	103.33	55.66
EV / Net Operating Revenue (X)	11.63	5.91	2.57	2.04	1.15
EV / EBITDA (X)	32.56	15.24	8.03	10.15	4.30
MarketCap / Net Operating Revenue (X)	11.74	6.12	2.86	2.64	1.44
Retention Ratios (%)	94.41	97.38	96.56	0.00	0.00
Price / BV (X)	7.24	4.43	2.59	1.99	1.13
Price / Net Operating Revenue (X)	11.74	6.12	2.86	2.64	1.44
EarningsYield	0.02	0.04	0.07	0.04	0.11

After reviewing the key financial ratios for DE Nora India Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 24, the value is 35.80. This value is within the healthy range. It has decreased from 38.19 (Mar 23) to 35.80, marking a decrease of 2.39.
For Diluted EPS (Rs.), as of Mar 24, the value is 35.80. This value is within the healthy range. It has decreased from 38.19 (Mar 23) to 35.80, marking a decrease of 2.39.
For Cash EPS (Rs.), as of Mar 24, the value is 37.96. This value is within the healthy range. It has decreased from 40.77 (Mar 23) to 37.96, marking a decrease of 2.81.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 225.46. It has increased from 191.53 (Mar 23) to 225.46, marking an increase of 33.93.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 225.46. It has increased from 191.53 (Mar 23) to 225.46, marking an increase of 33.93.
For Dividend / Share (Rs.), as of Mar 24, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 2.00.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 139.01. It has increased from 138.60 (Mar 23) to 139.01, marking an increase of 0.41.
For PBDIT / Share (Rs.), as of Mar 24, the value is 49.67. This value is within the healthy range. It has decreased from 53.75 (Mar 23) to 49.67, marking a decrease of 4.08.
For PBIT / Share (Rs.), as of Mar 24, the value is 47.52. This value is within the healthy range. It has decreased from 51.17 (Mar 23) to 47.52, marking a decrease of 3.65.
For PBT / Share (Rs.), as of Mar 24, the value is 47.52. This value is within the healthy range. It has decreased from 51.15 (Mar 23) to 47.52, marking a decrease of 3.63.
For Net Profit / Share (Rs.), as of Mar 24, the value is 35.80. This value is within the healthy range. It has decreased from 38.19 (Mar 23) to 35.80, marking a decrease of 2.39.
For PBDIT Margin (%), as of Mar 24, the value is 35.73. This value is within the healthy range. It has decreased from 38.78 (Mar 23) to 35.73, marking a decrease of 3.05.
For PBIT Margin (%), as of Mar 24, the value is 34.18. This value exceeds the healthy maximum of 20. It has decreased from 36.92 (Mar 23) to 34.18, marking a decrease of 2.74.
For PBT Margin (%), as of Mar 24, the value is 34.18. This value is within the healthy range. It has decreased from 36.90 (Mar 23) to 34.18, marking a decrease of 2.72.
For Net Profit Margin (%), as of Mar 24, the value is 25.75. This value exceeds the healthy maximum of 10. It has decreased from 27.55 (Mar 23) to 25.75, marking a decrease of 1.80.
For Return on Networth / Equity (%), as of Mar 24, the value is 15.88. This value is within the healthy range. It has decreased from 19.94 (Mar 23) to 15.88, marking a decrease of 4.06.
For Return on Capital Employeed (%), as of Mar 24, the value is 21.07. This value is within the healthy range. It has decreased from 26.61 (Mar 23) to 21.07, marking a decrease of 5.54.
For Return On Assets (%), as of Mar 24, the value is 15.00. This value is within the healthy range. It has decreased from 17.53 (Mar 23) to 15.00, marking a decrease of 2.53.
For Total Debt / Equity (X), as of Mar 24, the value is 0.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 0.00.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.60. It has decreased from 0.70 (Mar 23) to 0.60, marking a decrease of 0.10.
For Current Ratio (X), as of Mar 24, the value is 14.48. This value exceeds the healthy maximum of 3. It has increased from 7.61 (Mar 23) to 14.48, marking an increase of 6.87.
For Quick Ratio (X), as of Mar 24, the value is 10.52. This value exceeds the healthy maximum of 2. It has increased from 5.50 (Mar 23) to 10.52, marking an increase of 5.02.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 0.72. This value is below the healthy minimum of 4. It has decreased from 1.02 (Mar 23) to 0.72, marking a decrease of 0.30.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 5.58. This value is below the healthy minimum of 20. It has increased from 2.61 (Mar 23) to 5.58, marking an increase of 2.97.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 5.26. This value is below the healthy minimum of 20. It has increased from 2.45 (Mar 23) to 5.26, marking an increase of 2.81.
For Earning Retention Ratio (%), as of Mar 24, the value is 94.42. This value exceeds the healthy maximum of 70. It has decreased from 97.39 (Mar 23) to 94.42, marking a decrease of 2.97.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 94.74. This value exceeds the healthy maximum of 70. It has decreased from 97.55 (Mar 23) to 94.74, marking a decrease of 2.81.
For Interest Coverage Ratio (X), as of Mar 24, the value is 0.00. This value is below the healthy minimum of 3. It has decreased from 2,194.98 (Mar 23) to 0.00, marking a decrease of 2,194.98.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 0.00. This value is below the healthy minimum of 3. It has decreased from 1,560.69 (Mar 23) to 0.00, marking a decrease of 1,560.69.
For Enterprise Value (Cr.), as of Mar 24, the value is 858.53. It has increased from 434.79 (Mar 23) to 858.53, marking an increase of 423.74.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 11.63. This value exceeds the healthy maximum of 3. It has increased from 5.91 (Mar 23) to 11.63, marking an increase of 5.72.
For EV / EBITDA (X), as of Mar 24, the value is 32.56. This value exceeds the healthy maximum of 15. It has increased from 15.24 (Mar 23) to 32.56, marking an increase of 17.32.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 11.74. This value exceeds the healthy maximum of 3. It has increased from 6.12 (Mar 23) to 11.74, marking an increase of 5.62.
For Retention Ratios (%), as of Mar 24, the value is 94.41. This value exceeds the healthy maximum of 70. It has decreased from 97.38 (Mar 23) to 94.41, marking a decrease of 2.97.
For Price / BV (X), as of Mar 24, the value is 7.24. This value exceeds the healthy maximum of 3. It has increased from 4.43 (Mar 23) to 7.24, marking an increase of 2.81.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 11.74. This value exceeds the healthy maximum of 3. It has increased from 6.12 (Mar 23) to 11.74, marking an increase of 5.62.
For EarningsYield, as of Mar 24, the value is 0.02. This value is below the healthy minimum of 5. It has decreased from 0.04 (Mar 23) to 0.02, marking a decrease of 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of DE Nora India Ltd as of June 1, 2025 is: 664.40

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of June 1, 2025, DE Nora India Ltd is Overvalued by 19.86% compared to the current share price 829.00

Intrinsic Value of DE Nora India Ltd as of June 1, 2025 is: 521.83

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of June 1, 2025, DE Nora India Ltd is Overvalued by 37.05% compared to the current share price 829.00

Last 5 Year EPS CAGR: -21.46%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 22.67%, which is a positive sign. The company has higher reserves (64.12 cr) compared to borrowings (0.06 cr), indicating strong financial stability. The company has shown consistent growth in sales (49.38 cr) and profit (11.19 cr) over the years.	The stock has a high average Working Capital Days of 116.25, which may not be favorable. The stock has a high average Cash Conversion Cycle of 297.75, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in DE Nora India Ltd:
1. Net Profit Margin: 25.75%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 21.07% (Industry Average ROCE: 5.49%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 15.88% (Industry Average ROE: 3.99%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 0
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 10.52
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 260 (Industry average Stock P/E: 123.7)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

De Nora India Ltd. is a Public Limited Listed company incorporated on 11/03/1993 and has its registered office in the State of Goa, India. Company's Corporate Identification Number(CIN) is L31200GA1993PLC001335 and registration number is 001335. Currently Company is involved in the business activities of Manufacture of other special-purpose machinery. Company's Total Operating Revenue is Rs. 68.58 Cr. and Equity Capital is Rs. 5.31 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Electrodes - Graphite	Plot Nos 184,185 & 189, Kundaim Industrial Estate, Kundaim Goa 403115	info.dni@denora.com http://india,denora.com

Management
Name	Position Held
Ms. Supriya Banerji	Chairperson & Independent Director
Mr. Vinay Chopra	Managing Director
Mr. Robert Scannell	Non Executive Director
Mr. Francesco L�Abbate	Non Executive Director
Ms. Lalita Correia Afonso	Addnl.Independent Director
Mr. Purushottam Mantri	Independent Director

FAQ

What is the intrinsic value of DE Nora India Ltd?

DE Nora India Ltd's intrinsic value (as of 01 June 2025) is ₹664.40 — 19.86% lower the current market price of 829.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 440 Cr. market cap, FY2025-2026 high/low of ₹2,025/675, reserves of 114.84 Cr, and liabilities of 142.31 Cr.

What is the Market Cap of DE Nora India Ltd?

The Market Cap of DE Nora India Ltd is 440 Cr..

What is the current Stock Price of DE Nora India Ltd as on 01 June 2025?

The current stock price of DE Nora India Ltd as on 01 June 2025 is 829.

What is the High / Low of DE Nora India Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of DE Nora India Ltd stocks is ₹2,025/675.

What is the Stock P/E of DE Nora India Ltd?

The Stock P/E of DE Nora India Ltd is 260.

What is the Book Value of DE Nora India Ltd?

The Book Value of DE Nora India Ltd is 226.

What is the Dividend Yield of DE Nora India Ltd?

The Dividend Yield of DE Nora India Ltd is 0.24 %.

What is the ROCE of DE Nora India Ltd?

The ROCE of DE Nora India Ltd is 2.30 %.

What is the ROE of DE Nora India Ltd?

The ROE of DE Nora India Ltd is 1.41 %.

What is the Face Value of DE Nora India Ltd?

The Face Value of DE Nora India Ltd is 10.0.