NSE: INDORAMA · BSE: 500207 · ISIN INE156A01020
Indo Rama Synthetics (India) Limited stock analysis
Indo Rama Synthetics (India) Limited ranks #4092 in the TickerSutra evidence-ranked universe with a score of 36/100 and 95% data confidence. The latest captured fundamentals show ROCE of 17.9%, quarterly sales growth of -28.3% and quarterly profit growth of 20.8%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
- CFO/EBITDA is below 0.6×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹4,038cr | ₹304cr | ₹269cr | 8.0% |
| 2023 | ₹4,085cr | ₹44cr | ₹-25cr | 1.1% |
| 2024 | ₹3,873cr | ₹-37cr | ₹-203cr | -0.9% |
| 2025 | ₹4,259cr | ₹179cr | ₹1cr | 4.2% |
| 2026 | ₹4,910cr | ₹312cr | ₹150cr | 6.0% |
| TTM | ₹4,541cr | ₹323cr | ₹161cr | 7.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Indo Rama Synthetics (India) Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineIndo Rama Synthetics (India) Ltd - 500207 - Clarification On Price MovementBSE · 10 Sept 2026Please find reply letter on clarification on price movement.
RoutinePrice movementNSE · 10 Sept 2026Significant movement in price has been observed in Indo Rama Synthetics (India) Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Indo Rama Synthetics (India) Limited has submitted their response.
RoutineIndo Rama Synthetics (India) Ltd - 500207 - Clarification sought from Indo Rama Synthetics (India) LtdBSE · 10 Sept 2026The Exchange has sought clarification from Indo Rama Synthetics (India) Ltd on September 10, 2026 with reference to significant movement in price, in order to ensure that investors have ....
RoutineIndo Rama Synthetics (India) Ltd - 500207 - Disclosure Under Regulation 7(2) Of SEBI (PIT) Regulations, 2015BSE · 10 Sept 2026Disclosure under Regulations 7(2) of SEBI (PIT) Regulations, 2015
MANAGEMENT COMMENTARY
Signals from filed documents
Cyclicality and Margin Pressure: The polyester industry is inherently cyclical, with profitability susceptible to demand- supply imbalances, periods of global overcapacity – particularly from Chinese producers – and subdued downstream textile demand, all of which can exert pressure on realisations. Limited Consumer Brand Presence: Predominantly B2B- oriented operations with limited direct consumer brand equity, resul
High Input Price Sensitivity: Cost structures are directly and materially linked to the prices of Purified Terephthalic Acid (PTA) and Mono Ethylene Glycol (MEG), which are influenced by global crude oil trends, geopolitical developments – including disruptions in the Middle East– and OPEC+ production decisions. Cyclicality and Margin Pressure: The polyester industry is inherently cyclical, with profitability suscept
That said, challenges persisted throughout the year. Raw material costs stayed elevated, supply dependencies weighed on margins, and competition “ “ Annual Report 2025-26 08 from China & Asian Countries coupled with tariff barriers in key export markets kept pressure on the industry. Crude oil, PTA, and MEG prices moved in cycles.
That said, challenges persisted throughout the year. Raw material costs stayed elevated, supply dependencies weighed on margins, and competition “ “ Annual Report 2025-26 08 from China & Asian Countries coupled with tariff barriers in key export markets kept pressure on the industry. Crude oil, PTA, and MEG prices moved in cycles.
A significant portion of the sector, particularly within the MSME base, continues to rely on legacy machinery, constraining productivity, quality consistency, and cost competitiveness. Uneven access to finance further limits capacity expansion and technology adoption. Additionally, intensifying competition from countries such as China, Bangladesh, and Vietnam exerts pressure on pricing and export competitiveness, whi
More importantly, we could achieve robust performance, reporting a Profit After Tax (PAT) of ₹150.21 crore for FY26 as compared to ₹1.40 crore in FY25 on consolidated basis. A More Supportive Regulatory Landscape The regulatory landscape has also begun to work in the industry’s favour. The withdrawal of Quality Control Orders (QCOs) on polyester fibres, yarns, and key intermediates such as PTA and MEG has eased acces
Benefit derived as a result of the above product development and process improvement: • Reduced coal consumption. • Development of Higher margins products. Import Substitution: • PSF-4 Draw Frame - 2 Godet.
• Assessed management’s evaluation of the Company’s ability to generate sufficient future taxable profits within the period prescribed under the Income-tax Act, 1961 for utilisation of carried forward tax losses and unabsorbed depreciation. • Reconciled the projected taxable profits and cash flow forecasts with the business plans approved by the management and those charged with governance, where applicable. • Evalua
The official press release and/or presentation are also available on the Company’s website. Recommendations Compliance Quarterly/Annual Results Published in leading Newspapers Newspapers wherein results are normally published Loksatta (Marathi) - Daily (Nagpur) Business Standard - English Daily (All Editions) Any website, where displayed www.indoramaindia.com Whether it also displays official news releases and presen
Nature of Industry: The Company is engaged in the manufacturing of Polyester products, viz., Polyester Filament Yarn (PFY), Polyester Staple Fibre (PSF), Draw Texturised Yarn (DTY), Specialty Fibre and Bottle Grade Chips. Date or expected date of commencement of commercial production: The Company was incorporated on 28 th April 1986 as a Public Limited Company. The Company is already in operation after obtaining Cert
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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