---
title: "Indobell Insulations Ltd (544334) — Share Price, Financials & Analysis"
symbol: "544334"
company: "Indobell Insulations Ltd"
canonical: "https://tapetide.com/stocks/544334"
isin: "INE0FK501019"
nse_symbol: "INDOBELLINSULATIONSLTD"
bse_code: "544334"
sector: "Construction"
industry: "Construction Materials"
market_cap_cr: 46.18
generated_at: "2026-09-13T19:08:52.762Z"
---

# Indobell Insulations Ltd (544334)

Canonical page: https://tapetide.com/stocks/544334

## Company

- **NSE Symbol:** INDOBELLINSULATIONSLTD
- **BSE Code:** 544334
- **ISIN:** INE0FK501019
- **Sector:** Construction
- **Industry:** Construction Materials
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2025-01-13
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** indobell.com

## About

Incorporated in May 1972, Indobell Insulation Limited manufactures insulation products.[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:49:04.577098Z.

- **Market Cap:** ₹46.18 Cr
- **Classification:** SME
- **P/E (reported):** 57.2
- **Book Value:** ₹25.75
- **Price to Book:** 2.84
- **Dividend Yield:** 2.73%
- **ROE:** 4.96%
- **ROCE:** 6.32%
- **Debt to Equity:** 0.06
- **Revenue (yearly):** ₹17.2 Cr
- **Net Income:** ₹0.8 Cr
- **EBITDA:** ₹1.4 Cr
- **52-Week High:** ₹118.95
- **52-Week Low:** ₹44.75
- **RSI (14):** 46.31

## Tapetide Score

- **Score:** 57 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Rising
- **Percentile:** 77.8 (of 4473 scored stocks)
- **Confidence:** 86%
- **Data coverage:** 71%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 87.48 | 9% |
| growth | 3.78 | 9% |
| momentum | 95.47 | 12% |
| ownership | 50 | 24% |
| quality | 74.71 | 22% |
| valuation | 40.09 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 75.7%
- Debtor days have improved from 148 to 106 days.

### Weaknesses

- Company has a low return on equity of 12.6% over last 3 years.
- Earnings include an other income of Rs.1.59 Cr.
- Working capital days have increased from 143 days to 245 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 204.17% | — | 259.57% |
| ebitda margin growth | -41.46% | -32.94% | -5.04% |
| net income growth | -63.64% | -5% | 300% |
| revenue growth | -35.09% | -9% | 11.91% |
| roce | -70.59% | -77.53% | 19.44% |
| roe | -64.92% | 12.44% | 25.89% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 9.71 | 5.54 | 20.19 | 7 | 8.58 |
| Expenses | 8.71 | 4.69 | 18.21 | 7.55 | 8.25 |
| Operating Profit | 1 | 0.85 | 1.98 | -0.55 | 0.33 |
| OPM % | 10.3 | 15.34 | 9.81 | -7.86 | 3.85 |
| Other Income | 0.09 | 0.02 | 0.75 | 1.37 | 0.22 |
| Interest | 0.24 | 0.19 | 0.15 | 0.06 | 0.01 |
| Depreciation | 0.15 | 0.1 | 0.12 | 0.1 | 0.17 |
| Profit before tax | 0.7 | 0.58 | 2.46 | 0.66 | 0.37 |
| Tax % | 24.29 | 25.86 | 28.05 | 27.27 | 13.51 |
| Net Profit | 0.54 | 0.42 | 1.76 | 0.48 | 0.33 |
| EPS in Rs | 1.32 | 1.03 | 2.79 | 0.76 | 0.52 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 9.61 | 20.77 | 17.82 | 25.72 | 15.55 |
| Expenses | 8.78 | 18.9 | 15.74 | 22.84 | 15.66 |
| Operating Profit | 0.83 | 1.87 | 2.08 | 2.88 | -0.11 |
| OPM % | 8.64 | 9 | 11.67 | 11.2 | -0.71 |
| Other Income | 0.16 | 0.29 | 0.1 | 0.77 | 1.59 |
| Interest | 0.52 | 0.69 | 0.51 | 0.4 | 0.18 |
| Depreciation | 0.26 | 0.26 | 0.27 | 0.22 | 0.27 |
| Profit before tax | 0.21 | 1.21 | 1.4 | 3.03 | 1.03 |
| Tax % | 23.81 | 26.45 | 25.71 | 27.72 | 23.3 |
| Net Profit | 0.15 | 0.9 | 1.03 | 2.19 | 0.8 |
| EPS in Rs | 2.2 | 13.19 | 2.52 | 3.48 | 1.27 |
| Dividend Payout % | 45.33 | 15.11 | 11.94 | 57.53 | 157.5 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.68 | 0.68 | 4.1 | 6.3 | 6.3 |
| Reserves | 3.21 | 4.04 | 1.58 | 9.16 | 9.92 |
| Borrowings | 6.13 | 4.25 | 5.27 | 2.52 | 0.94 |
| Other Liabilities | 4.87 | 3.35 | 4.34 | 7.57 | 2.72 |
| 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 | 0 | 0 | 0 | 0 |
| Investments | 0.07 | 0.14 | 0.17 | 0.17 | 0.17 |
| Other Assets | 12.78 | 10.14 | 13.23 | 23.6 | 17.1 |
| Total Assets | 14.89 | 12.32 | 15.29 | 25.55 | 19.88 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -2.82 | 3.13 | 0.25 | -4.32 | 4.5 |
| Cash from Investing Activity | -0.07 | -0.55 | -0.56 | -0.22 | -1.34 |
| Cash from Financing Activity | 3.27 | -2.5 | 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 | -132 | -4436 |

### Ratios

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | 97.23 | 67.66 | 134.98 | 201.94 | 106.1 |
| Inventory Days | 388.25 | 73.42 | 93.27 | 64.28 | 245.09 |
| Days Payable | 308.43 | 54.74 | 86.66 | 92.51 | 69.73 |
| Cash Conversion Cycle | 177.05 | 86.34 | 141.59 | 173.71 | 281.47 |
| Working Capital Days | 64.19 | 31.81 | 43.01 | 141.35 | 244.59 |
| ROCE % | — | 20.01 | 19.08 | 23.71 | 6.77 |

## Shareholding Pattern

### Quarterly

| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 65% | 65% | 65% | 65% | 65% | 65% | 65% |
| FIIs | 1.38% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0.62% | 0.64% | 0.9% | 1.81% | 1.79% | 1.79% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 30.96% | 30.72% | 30.65% | 29.99% | 29.36% | 28.98% | 28.66% |
| Others | 2.67% | 3.67% | 3.71% | 4.11% | 3.83% | 4.24% | 4.56% |
| No. of Shareholders | 547 | 194 | 353 | 387 | 468 | 470 | 518 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 7 / 6 / 6

### Moving Averages — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 79.73 | Sell |
| EMA (10) | 76.78 | Sell |
| SMA (20) | 75.77 | Sell |
| EMA (20) | 76.12 | Sell |
| SMA (50) | 72.16 | Buy |
| EMA (50) | 72.05 | Buy |
| SMA (100) | 65.36 | Buy |
| EMA (100) | 69.21 | Buy |
| SMA (200) | 65.57 | Buy |
| EMA (200) | 74.7 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 46.19 | Neutral |
| MACD (12,26,9) | 1.5 | Sell |
| Stochastic (14,3,3) | 27.48 | Neutral |
| ADX (14) | 23.41 | Neutral |
| Williams %R (14) | -78.72 | Neutral |
| ATR (14) | 4.19 | High Volatility |
| ROC (12) | 0.36 | Buy |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 33.73 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-10 | [Certificate For Utilization Of Funds Raised Through IPO](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b3cd41f4-4328-436c-87ef-251190a2511b.pdf) |
| 2026-09-03 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=151e5d52-3c77-4056-a097-a3a1f5e59122.pdf) |
| 2026-09-03 | [Regulation 36(1)(B) Of The Listing Regulations](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9a053d75-eb36-4fb2-ac36-2f720eb12d40.pdf) |
| 2026-09-03 | [Appreciation Letter Received From State Bank Of India (SBI)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e8d079e9-d2ec-4702-9c2f-d15affb4a789.pdf) |
| 2026-09-02 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d0886b25-20eb-4496-a111-b58cf5e199dd.pdf) |
| 2026-08-31 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c0a79861-b11c-4cf5-a999-487fc5ce2c58.pdf) |
| 2026-08-21 | [Board Meeting Outcome for Increase In Authorised Capital From Rs 7Cr To Rs 15Cr. AGM Date Has Been Fixed For Wednesday 30Th September 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=db64b6b7-a061-4b56-a8fa-2434ed090d87.pdf) |
| 2026-08-19 | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9a11b16d-0671-4ba4-87ca-7ae1c3a2f5f9.pdf) |
| 2026-08-18 | [Board Meeting Intimation for Fixing The AGM Date Increase In Authorised Capital Approval Of Directors Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a85226b9-ee26-46c4-bce5-5369942ee343.pdf) |
| 2026-08-01 | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=13c5f24c-6477-41ee-9373-0bc2255f3012.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-05-22 | [Audited Financial Results For The F Y 2025-2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=00a3d197-a779-4690-abcb-f789bbb94ad6.pdf) |
| 2025-11-12 | [Unaudited Financial Results For The Half Year Ended 30Th September 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3ad6f4a3-420e-4051-865a-9f4cdd32cb5c.pdf) |
| 2025-05-24 | [Financial Result For 31/03/2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=68738f49-ee13-44ca-aaed-976ae2e37302.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 7h - SAMHI to acquire 70% of RARE India; ~INR470mn investment; Marriott affiliation; agreements by May 2026. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 7h - SAMHI to acquire 70% of RARE India; ~INR470mn investment; Marriott affiliation; agreements by May 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/ab7216e7-f59e-4769-9cf3-9597df9f1992.pdf) |
| 7h - Business Update Presentation on strategic investment to acquire majority stake in RARE India, an established leisure platform with a plan to scale it into a … | [Announcement under Regulation 30 (LODR)-Investor Presentation 7h - Business Update Presentation on strategic investment to acquire majority stake in RARE India, an established leisure platform with a plan to scale it into a …](https://www.bseindia.com/xml-data/corpfiling/AttachLive/50b23fd5-aadc-4bef-9bd1-42dd48de61d5.pdf) |
| 7h - Approved acquisition of 70% of RARE India for INR 473.9m; tranche1 (55%) by 31 May 2026. | [Board Meeting Outcome for Acquisition Of Interest In RARE India 7h - Approved acquisition of 70% of RARE India for INR 473.9m; tranche1 (55%) by 31 May 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/d787b3c0-5b80-4c7f-93cf-9d54a05fa048.pdf) |
| 6h - Business Update Presentation on strategic investment to acquire majority stake in RARE India, an established leisure platform with a plan to scale it into a … | [Announcement under Regulation 30 (LODR)-Investor Presentation 6h - Business Update Presentation on strategic investment to acquire majority stake in RARE India, an established leisure platform with a plan to scale it into a …](https://www.bseindia.com/xml-data/corpfiling/AttachLive/14f2a96b-6112-41ea-a1a0-4b10d880cb98.pdf) |
| 6h - Business update call Mar 6, 2026 10:00 AM IST with CEO, CFO, investment heads. | [Intimation Of Business Update Call 6h - Business update call Mar 6, 2026 10:00 AM IST with CEO, CFO, investment heads.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/b9202aaf-73b1-4f74-8d2f-b3fa0e62fbfe.pdf) |
| 4 Mar - Secured NTPC domestic order Rs85,15,125 for gas turbine exhaust duct re-insulation; execution by March 2028. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 4 Mar - Secured NTPC domestic order Rs85,15,125 for gas turbine exhaust duct re-insulation; execution by March 2028.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f7611526-7331-418a-974e-54a0e792b884.pdf) |
| 4 Mar - Export order worth USD 185,902 from GE Vernova for steam turbine insulation, execution by Aug 2026. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 4 Mar - Export order worth USD 185,902 from GE Vernova for steam turbine insulation, execution by Aug 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7d0ecec3-7ad1-4e6e-acd6-44cc8172490e.pdf) |
| 4 Mar - Export order from GE Vernova (USA) for steam turbine insulation worth USD 583,527, execution by June 2027. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 4 Mar - Export order from GE Vernova (USA) for steam turbine insulation worth USD 583,527, execution by June 2027.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8d715b6c-7575-431d-917a-15b7b4ad1074.pdf) |
| 4 Mar - Export order from GE Vernova (Cambridge) for steam turbine insulation worth USD 172,672; delivery by Nov 2026. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 4 Mar - Export order from GE Vernova (Cambridge) for steam turbine insulation worth USD 172,672; delivery by Nov 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a8297742-a60b-4e4b-911a-01b071054901.pdf) |
| 31 Mar - Secured international export order worth USD 70,700 from GE Vernova; execution by Nov 2026, payment within 150 days. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 31 Mar - Secured international export order worth USD 70,700 from GE Vernova; execution by Nov 2026, payment within 150 days.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/50245757-95b4-49f5-a4a2-11579912f686.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2024 | [Concall - Sep 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6b94b416-a578-46f5-bb9a-04576e3cf18e.pdf) |
| Oct 2025 | [Concall - Oct 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0389dfcb-36a1-4cea-957f-9e7c4a923790.pdf) |
| Oct 2023 | [Concall - Oct 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/80ec0094-2978-4a35-a8e3-aed9c8f74d10.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1f93b060-f141-4688-b043-ef29197e95e0.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/efa1c4a9-8466-41ae-80a5-74d426d29cea.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/64c94592-8bef-46b6-b313-81ba2c412ee8.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/14012ad0-b5cf-495d-8534-fd8ee17e08db.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a543f03b-25fc-41e9-91aa-d4258ab9ed02.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ce4bb562-703b-46b2-ae25-13e5b4b994dc.pdf) |
| Jun 2024 | [Concall - Jun 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/68a1b03c-0d51-474c-9a05-3ab58d551e3c.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/32502a54-dc94-4f3e-a9f5-cb2ddf5cf7ed.pdf) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8f39dcd1-8999-43b3-a009-6998b59c8555.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c36102be-d059-44fc-a4c5-5e7e0a71e650.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:08:52.762Z.