De Nora
De Nora (DENORA) share price was ₹705.35 at the 28 Oct 2026 close; market capitalisation ₹374 Cr; P/E (TTM) 30.72; sector Industrial Products. The share price fell 14.5% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue fell 16.0% year on year to ₹35.27 Cr and net profit rose 96.6% year on year to ₹6.39 Cr (compared with Jun 2025). Promoters held 53.68% of De Nora in Sep 2026, unchanged from Jun 2026. Its Tapetide Score is 56/100 (Good) as of 28 Oct 2026.
Key Fundamentals
MicrocapIndustrial ProductsCapital GoodsPrice-based figures as of 28 Oct 2026, 15:31 IST · EPS basis: Standalone · TTM
Peer Comparison
Industrials › Industrial Products › Electrodes & Refractories
| ₹735.15 | 67.44 | 14,363 Cr | 2.45 | 0.93% | 2.92% | 4.45% | 3,378 Cr | 209 Cr | |
| ₹1,764.10 | 114.93 | 8,101 Cr | 28.77 | 0.06% | 22.41% | 27.71% | 318 Cr | 71 Cr | |
| ₹382.05 | 30.30 | 7,754 Cr | 4.43 | 0.39% | 15.87% | 20.96% | 2,194 Cr | 257 Cr | |
| ₹354.35 | — | 7,317 Cr | 2.06 | 0.69% | -10.76% | -7.21% | 4,110 Cr | -353 Cr | |
| ₹1,248.75 | 94.32 | 2,714 Cr | 17.86 | 0.00% | 17.62% | 23.90% | 181 Cr | 29 Cr | |
| ₹173.53 | 30.55 | 1,251 Cr | 1.06 | 1.31% | 2.95% | 4.88% | 1,962 Cr | 41 Cr | |
| ₹705.35 | 30.72 | 374 Cr | 2.90 | 0.58% | 7.00% | 9.25% | 123 Cr | 12 Cr | |
| ₹228.74 | — | — | — | — | — | — | — | — | |
| Median 8 companies | ₹543.70 | 49.08 | 7,317 Cr | 2.90 | 0.58% | 7.00% | 9.25% | 1,962 Cr | 41 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
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Category scores
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Key Insights
Strengths
3- Company is almost debt free.
- Debtor days have improved from 52.4 to 35.3 days.
- Company's working capital requirements have reduced from 109 days to 41.4 days
Weaknesses
4- Stock is trading at 2.79 times its book value
- Company has a low return on equity of 5.21% over last 3 years.
- Earnings include an other income of Rs.8.45 Cr.
- Dividend payout has been low at 9.68% of profits over last 3 years
Technical Indicators
Oscillators
Neutral
Overall
Bearish
Moving Averages
Bearish
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 16.13% · Jun 2026
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 9.14 | 19.08 | 29.4 | 16.18 | 12.76 | 18.13 | 17.56 | 20.13 | 41.97 | 21.84 | 35.84 | 21.97 | 35.27 |
| Expenses | 9.35 | 11.44 | 21.91 | 9.93 | 9.82 | 14.92 | 28.95 | 16.3 | 39.53 | 17.82 | 33.36 | 24.24 | 29.58 |
| Operating Profit | -0.21 | 7.64 | 7.49 | 6.25 | 2.94 | 3.21 | -11.39 | 3.83 | 2.44 | 4.02 | 2.48 | -2.27 | 5.69 |
| OPM % | -2.3% | 40.04% | 25.48% | 38.63% | 23.04% | 17.71% | -64.86% | 19.03% | 5.81% | 18.41% | 6.92% | -10.33% | 16.13% |
| Other Income | 1.16 | 1.14 | 1.19 | 1.71 | 1.34 | 1.65 | 1.5 | 1.37 | 2.36 | 1.7 | 1.43 | 1.87 | 3.45 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.25 | 0.25 | 0.29 | 0.35 | 0.4 | 0.42 | 0.44 | 0.45 | 0.46 | 0.52 | 0.52 | 0.53 | 0.54 |
| PBT | 0.7 | 8.53 | 8.39 | 7.61 | 3.88 | 4.44 | -10.33 | 4.75 | 4.34 | 5.2 | 3.39 | -0.93 | 8.6 |
| Tax % | 25.71% | 25.56% | 22.77% | 25.76% | 25.77% | 26.35% | -24.3% | 29.68% | 25.12% | 25.58% | 23.89% | -31.18% | 25.7% |
| Net Profit | 0.52 | 6.35 | 6.48 | 5.66 | 2.88 | 3.28 | -7.81 | 3.34 | 3.25 | 3.87 | 2.57 | -0.64 | 6.39 |
| EPS (₹) | 0.98 | 11.96 | 12.21 | 10.66 | 5.43 | 6.18 | -14.71 | 6.29 | 6.12 | 7.29 | 4.84 | -1.21 | 12.04 |
Profit & Loss
| Particulars | Dec 2014 | Mar 2016 15m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 31 | 51 | 27 | 27 | 33 | 48 | 51 | 74 | 74 | 74 | 69 | 122 | 115 |
| Expenses | 25 | 35 | 25 | 25 | 32 | 38 | 42 | 51 | 49 | 52 | 70 | 115 | 105 |
| Operating Profit | 5 | 16 | 2 | 2 | 0 | 11 | 8 | 23 | 25 | 21 | -1 | 7 | 10 |
| OPM % | 17% | 30% | 8% | 8% | 1.5% | 22% | 17% | 31% | 34% | 29% | -1.8% | 6% | 9% |
| Other Income | 2 | 4 | 3 | 3 | 4 | 2 | 2 | 1 | 4 | 5 | 6 | 7 | 8 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 3 | 1 | 1 | 2 | 2 | 2 |
| PBT | 6 | 18 | 4 | 3 | 2 | 10 | 8 | 21 | 27 | 25 | 3 | 12 | 16 |
| Tax % | 29% | 33% | 33% | 45% | 13% | 22% | 25% | 26% | 25% | 25% | 38% | 25% | — |
| Net Profit | 4 | 12 | 3 | 2 | 2 | 8 | 6 | 15 | 20 | 19 | 2 | 9 | 12 |
| EPS (₹) | 8.01 | 22.57 | 5.61 | 3.18 | 3 | 15.31 | 10.64 | 29.1 | 38.2 | 35.81 | 3.18 | 17.07 | 22.96 |
| Div. Payout % | 19% | 18% | 36% | 31% | 0% | 0% | 9% | 3% | 5% | 6% | 0% | 23% | — |
Balance Sheet
| Particulars | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | 34 | 43 | 47 | 47 | 48 | 56 | 62 | 77 | 96 | 114 | 115 | 124 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 9 | 12 | 12 | 11 | 12 | 13 | 13 | 12 | 14 | 7 | 22 | 30 |
| Total Liabilities | 49 | 60 | 64 | 63 | 65 | 75 | 80 | 94 | 116 | 127 | 142 | 160 |
| Fixed Assets | 7 | 7 | 7 | 14 | 12 | 10 | 10 | 7 | 8 | 13 | 15 | 18 |
| CWIP | 1 | 2 | 7 | 0 | 0 | 1 | 0 | 1 | 2 | 2 | 3 | 0 |
| Investments | 14 | 19 | 20 | 20 | 14 | 5 | 4 | 23 | 42 | 54 | 52 | 57 |
| Other Assets | 26 | 32 | 29 | 29 | 40 | 60 | 66 | 62 | 64 | 57 | 73 | 84 |
| Total Assets | 49 | 60 | 64 | 63 | 65 | 75 | 80 | 94 | 116 | 127 | 142 | 160 |
Cash Flow
| Particulars | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 10 | 14 | 7 | 2 | -6 | -7 | 16 | 12 | 14 | 16 | 3 | 12 |
| Investing | -8 | -12 | -3 | -2 | 7 | 7 | 1 | -16 | -24 | -14 | 1 | -3 |
| Financing | -3 | -1 | -3 | -1 | -1 | 1 | -1 | -1 | -1 | -1 | -1 | 0 |
| Net Cash Flow | -1 | 1 | 1 | -2 | 1 | 1 | 16 | -5 | -10 | 1 | 3 | 9 |
| Free Cash Flow | 9 | 12 | 3 | -2 | -7 | -8 | 15 | 11 | 11 | 9 | 0 | 8 |
| CFO/EBITDA | 213 | 131 | 451 | 163 | -1,094 | -46 | 203 | 74 | 86 | 106 | -602 | 248 |
Ratios
| Particulars | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 139 | 75 | 82 | 64 | 61 | 97 | 79 | 58 | 84 | 51 | 71 | 35 |
| Inventory Days | 229 | 130 | 198 | 398 | 516 | 471 | 273 | 288 | 397 | 401 | 413 | 164 |
| Days Payable | 67 | 80 | 114 | 264 | 182 | 83 | 47 | 37 | 91 | 51 | 81 | 56 |
| Cash Conversion Cycle | 302 | 125 | 166 | 199 | 396 | 486 | 305 | 309 | 391 | 401 | 403 | 144 |
| Working Capital Days | 144 | 45 | 14 | 48 | 136 | 218 | 156 | 132 | 164 | 157 | 128 | 41 |
| ROCE % | 16% | 41% | 9% | 6% | 4% | 18% | 12% | 28% | 30% | 22% | 1% | 6% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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Documents
Frequently Asked Questions about De Nora
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Company Information
Incorporated in 1989, De Nora India Ltd manufactures and services Electrolytic products[1]
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