Audited Financial Results for the half year and year ended 31/03/20205.
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Indobell Insulations reported a strong FY25 with revenue from operations rising about 44% to Rs 2,572.91 lakhs (from Rs 1,788.15 lakhs in FY24), driven by growth in its fibre-related products business. Profit after tax more than doubled to Rs 218.59 lakhs (vs Rs 103.26 lakhs), translating into EPS of Rs 3.47 (vs Rs 2.52). The board has recommended a final dividend of Rs 2 per share, subject to shareholder approval. The statutory auditor (Bandyopadhyay & Dutt) has issued an unmodified (clean) opinion on the results. The company recently listed on BSE SME in January 2025 after raising Rs 1,014.30 lakhs via IPO, of which Rs 973.30 lakhs has been utilised as per the stated objects with no deviation reported.
Strong revenue and profit growth along with a maiden dividend are positives for shareholders of this recently-listed SME stock. However, investors should note that operating cash flow turned sharply negative (Rs -431.57 lakhs) mainly because trade receivables more than doubled to Rs 1,423.35 lakhs, signalling that a large part of the profit is still tied up in customer payments and is a watch-item despite the clean audit report.