Indag Rubber Ltd: Intrinsic Value & Share Price Analysis

Q: What is the intrinsic value of Indag Rubber Ltd and is it undervalued?

As of 20 April 2026, Indag Rubber Ltd's intrinsic value is 61.23, which is 34.58% lower than the current market price of 93.60, suggesting the stock is overvalued. Calculated using the PE ratio method factoring in ROE (2.86 %), book value (87.8), dividend yield (2.56 %), and 5-year EPS CAGR.

Q: What is the current share price and 52-week range of Indag Rubber Ltd?

Indag Rubber Ltd is trading at 93.60 as of 20 April 2026, with a FY2026-2027 high of 153 and low of 84.6. The stock is currently near its 52-week low. Market cap stands at 246 Cr..

Q: How does Indag Rubber Ltd's P/E ratio compare to its industry?

Indag Rubber Ltd has a P/E ratio of 28.6, which is above the industry average of 23.89. The premium over industry average may reflect growth expectations.

Q: Is Indag Rubber Ltd financially healthy?

Key indicators: ROCE of 2.93 % is on the lower side. Dividend yield is 2.56 %.

Q: Is Indag Rubber Ltd profitable and how is the profit trend?

Indag Rubber Ltd reported a net profit of 5 Cr in Mar 2025 on revenue of 228 Cr. Compared to 3 Cr in Mar 2021, the net profit shows an improving trend.

Fair Value

₹58.92Overvalued by 37.05%vs CMP ₹93.60

P/E (28.6) × ROE (2.9%) × BV (₹87.80) × DY (2.56%)

₹61.23Overvalued by 34.58%vs CMP ₹93.60

MoS: -52.9% (Negative)Confidence: 58/100 (Moderate)Models: 2 Fair, 7 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹75.14	23%	Over (-19.7%)
Graham Number	Earnings	₹80.37	17%	Over (-14.1%)
Earnings Power	Earnings	₹16.66	11%	Over (-82.2%)
DCF	Cash Flow	₹61.92	11%	Over (-33.8%)
Net Asset Value	Assets	₹87.51	7%	Fair (-6.5%)
EV/EBITDA	Enterprise	₹23.97	9%	Over (-74.4%)
Earnings Yield	Earnings	₹32.70	7%	Over (-65.1%)
ROCE Capital	Returns	₹70.25	7%	Over (-24.9%)
Revenue Multiple	Revenue	₹86.75	6%	Fair (-7.3%)
Consensus (9 models)		₹61.23	100%	Overvalued

Key Drivers: EPS CAGR 27.5% lifts DCF — verify sustainability. | ROE 2.9% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 27.5%

*Investments are subject to market risks

Analyst Summary

Indag Rubber Ltd operates in the Rubber Processing/Rubber Products segment, NSE: INDAG | BSE: 509162, current market price is ₹93.60, market cap is 246 Cr.. At a glance, stock P/E is 28.6, ROE is 2.86 %, ROCE is 2.93 %, book value is 87.8, dividend yield is 2.56 %. The latest intrinsic value estimate is ₹61.23, around 34.6% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹228 Cr versus the prior period change of -9.2%, while latest net profit is about ₹5 Cr with a prior-period change of -68.8%. This analysis page also carries profit and loss, shareholding pattern, ratio panels data, which improves the depth of the template beyond a thin price-only snapshot. The 52-week range shown on this page is 153/84.6, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisIndag Rubber Ltd. is a Public Limited Listed company incorporated on 02/06/1978 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1978PLC009038 and registration number is 009038. Currently Company is involved in…

This summary is generated from the stock page data available for Indag Rubber Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Indag Rubber Ltd scores 46/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health58/100 · Moderate

ROCE 2.9% WeakROE 2.9% WeakD/E 0.05 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money50/100 · Moderate

FII holding stable No changePromoter holding at 73.3% Stable

Earnings Quality50/100 · Moderate

OPM stable around 4% Steady

Quarterly Momentum35/100 · Weak

Revenue (4Q): -11% YoY DecliningProfit (4Q): -7% YoY DecliningOPM: 4.9% (up 5.5% YoY) Margin expansion

Industry Rank30/100 · Weak

P/E 28.6 vs industry 30.7 In-lineROCE 2.9% vs industry 8.2% Below peersROE 2.9% vs industry 9.1% Below peers3Y sales CAGR: 10% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:49 am

Market Cap	246 Cr.
Current Price	93.6
Intrinsic Value	₹61.23
High / Low	153/84.6
Stock P/E	28.6
Book Value	87.8
Dividend Yield	2.56 %
ROCE	2.93 %
ROE	2.86 %
Face Value	2.00
PEG Ratio	1.04

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Indag Rubber Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Indag Rubber Ltd	246 Cr.	93.6	153/84.6	28.6	87.8	2.56 %	2.93 %	2.86 %	2.00
Modi Rubber Ltd	287 Cr.	115	168/87.2	18.3	276	0.00 %	3.28 %	2.89 %	10.0
Vikas Ecotech Ltd	200 Cr.	1.13	2.78/0.95	62.3	2.22	0.00 %	2.75 %	1.37 %	1.00
Elgi Rubber Company Ltd	194 Cr.	38.8	90.5/32.7		33.3	0.00 %	0.47 %	12.2 %	1.00
Dolfin Rubbers Ltd	171 Cr.	170	224/161	31.3	35.7	0.00 %	17.1 %	16.5 %	10.0
Industry Average	528.25 Cr	317.73		30.71	111.34	0.58%	8.24%	9.09%	6.22

All Competitor Stocks of Indag Rubber Ltd

Quarterly Result

Metric	Sep 2021	Dec 2021	Mar 2022	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	45.47	45.93	44.23	64.17	62.33	61.32	55.57	62.09	55.69	55.07	45.01	52.53	56.18
Expenses	44.62	45.89	44.07	59.50	58.39	58.20	54.66	60.64	56.02	55.36	44.75	49.47	53.43
Operating Profit	0.85	0.04	0.16	4.67	3.94	3.12	0.91	1.45	-0.33	-0.29	0.26	3.06	2.75
OPM %	1.87%	0.09%	0.36%	7.28%	6.32%	5.09%	1.64%	2.34%	-0.59%	-0.53%	0.58%	5.83%	4.89%
Other Income	0.79	3.63	1.69	2.34	2.35	2.51	2.37	4.16	2.58	2.71	2.88	2.64	2.55
Interest	0.05	0.04	0.03	0.14	0.25	0.17	0.25	0.25	0.25	0.23	0.23	0.25	0.20
Depreciation	0.81	1.57	1.03	1.29	1.35	1.38	1.62	1.66	1.68	1.66	1.71	1.76	1.72
Profit before tax	0.78	2.06	0.79	5.58	4.69	4.08	1.41	3.70	0.32	0.53	1.20	3.69	3.38
Tax %	58.97%	7.77%	25.32%	22.40%	25.37%	26.23%	30.50%	16.22%	62.50%	1.89%	29.17%	22.49%	25.44%
Net Profit	0.34	1.90	0.60	4.34	3.50	3.00	0.98	3.10	0.13	0.51	0.85	2.86	2.52
EPS in Rs	0.19	0.71	0.23	1.78	1.36	1.22	0.56	1.34	0.18	0.41	0.51	1.23	1.12

Last Updated: March 3, 2026, 9:04 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 11:33 am

Metric	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2024	Mar 2025	TTM
Sales	185	168	173	187	170	167	251	228	209
Expenses	155	148	158	171	154	167	234	227	203
Operating Profit	30	21	15	16	16	0	17	2	6
OPM %	16%	12%	9%	9%	9%	0%	7%	1%	3%
Other Income	6	7	5	5	-9	7	10	12	11
Interest	1	2	2	0	0	0	1	1	1
Depreciation	3	4	4	4	3	4	5	7	7
Profit before tax	32	22	14	17	4	3	20	6	9
Tax %	31%	27%	22%	20%	21%	18%	24%	21%
Net Profit	22	16	11	14	3	2	16	5	7
EPS in Rs	8.33	6.01	4.10	5.12	0.97	0.79	6.15	2.49	3.27
Dividend Payout %	29%	40%	59%	47%	248%	304%	49%	96%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2024-2025
YoY Net Profit Growth (%)	-27.27%	-31.25%	27.27%	-78.57%	-33.33%	-68.75%
Change in YoY Net Profit Growth (%)	0.00%	-3.98%	58.52%	-105.84%	45.24%	-35.42%

Indag Rubber Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2017-2018 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	4%
3 Years:	11%
TTM:	-10%

Compounded Profit Growth
10 Years:	%
5 Years:	-14%
3 Years:	48%
TTM:	-50%

Stock Price CAGR
10 Years:	-3%
5 Years:	8%
3 Years:	15%
1 Year:	-49%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	3%

Last Updated: September 5, 2025, 3:46 pm

Balance Sheet

Last Updated: December 4, 2025, 3:05 am

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2024	Mar 2025	Sep 2025
Equity Capital	5	5	5	5	5	5	5	5	5
Reserves	171	182	186	182	192	201	221	222	225
Borrowings	15	13	12	11	0	0	10	9	9
Other Liabilities	35	29	27	28	39	27	35	37	33
Total Liabilities	226	228	230	226	237	234	271	274	272
Fixed Assets	49	46	44	41	25	45	64	60	58
CWIP	0	0	1	10	19	1	0	0	0
Investments	90	104	96	79	91	112	122	128	143
Other Assets	87	78	89	95	101	75	85	86	72
Total Assets	226	228	230	226	237	234	271	274	272

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2024	Mar 2025
Cash from Operating Activity +	8	17	0	10	15	8	18	3
Cash from Investing Activity +	-15	-8	10	3	-9	-3	-11	1
Cash from Financing Activity +	9	-10	-10	-15	-5	-7	-4	-7
Net Cash Flow	2	-1	-1	-2	1	-1	3	-3
Free Cash Flow	-11	15	-2	-3	3	4	6	-0
CFO/OP	57%	112%	30%	94%	113%	3,600%	139%	305%

Free Cash Flow

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2024	Mar 2025
Free Cash Flow	15.00	8.00	3.00	5.00	16.00	0.00	7.00	-7.00

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	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2024	Mar 2025
Debtor Days	58	63	73	74	63	49	37	40
Inventory Days	140	111	121	111	122	119	88	102
Days Payable	62	49	46	48	52	56	45	48
Cash Conversion Cycle	136	125	147	137	134	113	80	94
Working Capital Days	93	106	127	126	128	103	71	81
ROCE %		12%	8%	9%	9%	1%		3%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	73.34%	73.34%	73.34%	73.34%	73.34%	73.34%	73.34%	73.34%	73.34%	73.34%	73.34%	73.34%
FIIs	2.36%	2.08%	1.21%	1.21%	1.00%	0.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	1.14%	1.14%	1.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	23.16%	23.44%	24.31%	25.45%	25.66%	26.01%	26.65%	26.66%	26.65%	26.66%	26.66%	26.66%
No. of Shareholders	6,729	7,015	7,135	7,434	7,790	8,589	13,013	13,090	12,892	12,567	12,268	11,791

Shareholding Pattern Chart

No. of Shareholders

Indag Rubber Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	2.49	6.15	0.79	0.97	5.13
Diluted EPS (Rs.)	2.49	6.15	0.79	0.97	5.13
Cash EPS (Rs.)	4.32	7.96	2.56	2.52	6.98
Book Value[Excl.RevalReserv]/Share (Rs.)	86.70	87.46	78.68	76.71	72.62
Book Value[Incl.RevalReserv]/Share (Rs.)	86.70	87.46	78.68	76.71	72.62
Revenue From Operations / Share (Rs.)	87.02	95.69	63.59	64.70	72.77
PBDIT / Share (Rs.)	5.17	10.08	2.70	7.73	8.91
PBIT / Share (Rs.)	2.65	8.06	1.11	6.48	7.20
PBT / Share (Rs.)	2.27	7.79	1.04	1.33	6.61
Net Profit / Share (Rs.)	1.80	5.94	0.96	1.27	5.27
NP After MI And SOA / Share (Rs.)	2.49	6.15	0.78	0.96	5.13
PBDIT Margin (%)	5.93	10.53	4.24	11.94	12.23
PBIT Margin (%)	3.03	8.42	1.73	10.01	9.88
PBT Margin (%)	2.60	8.14	1.63	2.05	9.08
Net Profit Margin (%)	2.06	6.20	1.51	1.96	7.23
NP After MI And SOA Margin (%)	2.85	6.43	1.24	1.49	7.04
Return on Networth / Equity (%)	2.86	7.14	1.00	1.28	7.18
Return on Capital Employeed (%)	2.83	8.69	1.37	8.29	9.27
Return On Assets (%)	2.37	5.94	0.88	1.07	5.95
Long Term Debt / Equity (X)	0.00	0.00	0.00	0.00	0.05
Total Debt / Equity (X)	0.00	0.00	0.00	0.00	0.05
Asset Turnover Ratio (%)	0.83	0.00	0.70	0.75	0.84
Current Ratio (X)	3.82	3.52	4.33	3.24	4.39
Quick Ratio (X)	2.30	2.09	2.61	2.09	2.71
Inventory Turnover Ratio (X)	5.28	0.00	3.23	2.76	3.37
Dividend Payout Ratio (NP) (%)	120.56	38.99	304.02	93.49	91.70
Dividend Payout Ratio (CP) (%)	59.88	29.36	100.72	40.73	68.76
Earning Retention Ratio (%)	-20.56	61.01	-204.02	6.51	8.30
Cash Earning Retention Ratio (%)	40.12	70.64	-0.72	59.27	31.24
Interest Coverage Ratio (X)	13.74	37.44	42.10	76.33	15.30
Interest Coverage Ratio (Post Tax) (X)	5.78	23.06	14.57	61.09	10.05
Enterprise Value (Cr.)	315.77	352.97	160.58	236.00	146.66
EV / Net Operating Revenue (X)	1.38	1.41	0.96	1.39	0.76
EV / EBITDA (X)	23.28	13.34	22.66	11.63	6.27
MarketCap / Net Operating Revenue (X)	1.38	1.42	0.97	1.39	0.72
Retention Ratios (%)	-20.56	61.00	-204.02	6.50	8.29
Price / BV (X)	1.38	1.57	0.78	1.19	0.73
Price / Net Operating Revenue (X)	1.38	1.42	0.97	1.39	0.72
EarningsYield	0.02	0.04	0.01	0.01	0.09

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Indag Rubber Ltd. is a Public Limited Listed company incorporated on 02/06/1978 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1978PLC009038 and registration number is 009038. Currently Company is involved in the business activities of Manufacture of rubber plates, sheets, strips, rods, tubes, pipes, hoses and profile -shapes etc.. Company's Total Operating Revenue is Rs. 224.82 Cr. and Equity Capital is Rs. 5.25 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Rubber Processing/Rubber Products	11, Khemka House, New Delhi Delhi 110017	Contact not found

Management
Name	Position Held
Mr. Nand Lal Khemka	Chairman & Managing Director
Mr. Vijay Shrinivas	WholeTime Director & CEO
Mr. Nikhil Khanna	Director
Mr. Raj Kumar Agrawal	Director
Ms. Ranjana Agarwal	Director
Mr. Shiv Vikram Khemka	Director
Mr. Sushil Kumar Dalmia	Director
Mr. Uday Harsh Khemka	Director

FAQ

What is the intrinsic value of Indag Rubber Ltd and is it undervalued?

As of 20 April 2026, Indag Rubber Ltd's intrinsic value is ₹61.23, which is 34.58% lower than the current market price of ₹93.60, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (2.86 %), book value (₹87.8), dividend yield (2.56 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Indag Rubber Ltd?

Indag Rubber Ltd is trading at ₹93.60 as of 20 April 2026, with a FY2026-2027 high of ₹153 and low of ₹84.6. The stock is currently near its 52-week low. Market cap stands at ₹246 Cr..

How does Indag Rubber Ltd's P/E ratio compare to its industry?

Indag Rubber Ltd has a P/E ratio of 28.6, which is below the industry average of 30.71. This is broadly in line with or below the industry average.

Is Indag Rubber Ltd financially healthy?

Key indicators for Indag Rubber Ltd: ROCE of 2.93 % is on the lower side compared to the industry average of 8.24%; ROE of 2.86 % is below ideal levels (industry average: 9.09%). Dividend yield is 2.56 %.

Is Indag Rubber Ltd profitable and how is the profit trend?

Indag Rubber Ltd reported a net profit of ₹5 Cr in Mar 2025 on revenue of ₹228 Cr. Compared to ₹3 Cr in Mar 2021, the net profit shows an improving trend.

Does Indag Rubber Ltd pay dividends?

Indag Rubber Ltd has a dividend yield of 2.56 % at the current price of ₹93.60. This is a relatively attractive yield for income-seeking investors.