Manufactures industrial electrodes and water treatment technologies from its registered office in Kundaim, Goa, classified under the basic industry Electrodes & Refractories. The business reports two segments: Electrode Technologies, which made up 95.3% of segment revenue in the quarter ended June 30, 2023, and Water Technologies, which contributed 4.7%. The company is a subsidiary of Italian parent Industrie De Nora S.p.A., with promoter Oronzio De Nora International B.V. holding 53.67% of the equity. Materials are the largest cost line at 54.6% of revenue, followed by other operating expenses at 32.5% and employee costs at 5.7%. A warranty provision of Rs 1,389.25 lakhs was recognised during FY26, and the Board has recommended a dividend of Rs 4 per equity share subject to shareholder approval. Q1 FY27 (quarter ended June 30, 2026) brought in revenue of Rs 3,527 lakhs and a profit after tax of Rs 639 lakhs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Electrode Technologies (95%), Water Technologies (5%). Capital Goods / Industrial Products manufacturer of electrodes and water treatment technologies; subsidiary of Italian parent Industrie De Nora S.p.A.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 74 | 74 | 74 | 69 | 122 |
| EBITDA (ex other income) | 23 | 25 | 21 | (1) | 7 |
| margin % | 30.8 | 33.5 | 28.7 | (2.1) | 5.5 |
| Owners' profit | 15 | 20 | 19 | 2 | 9 |
| EPS, as reported (₹) | 29.10 | 38.19 | 35.80 | 3.19 | 17.06 |
| ROE % · ROCE % | 18.9 · 25.8 | 19.9 · 26.6 | 15.9 · 21.1 | 1.4 · 2.3 | 7.0 · 9.2 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 12 | 14 | 16 | 3 | 12 |
| Capex | (1) | (4) | (7) | (3) | (4) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 18 | 18 | 20 | 42 | 22 | 36 | 22 | 35 |
| Profit before tax | 4 | (10) | 5 | 4 | 5 | 3 | (1) | 9 |
| Net profit | 3 | (8) | 3 | 3 | 4 | 3 | (1) | 6 |
| EPS (₹) | 6.18 | (14.71) | 6.29 | 6.12 | 7.29 | 4.84 | (1.20) | 12.04 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| GRAPHITE INDIA LTD | 16,146 | 46.5 | 2.76 | 45.3 | 2.9 | 4.0 | 7.8 | 28.6 |
| RAGHAV PRODUCTIVITY ENH L | 8,450 | 134.7 | 34.56 | 109.2 | 22.4 | 27.4 | 31.8 | 30.8 |
| VESUVIUS INDIA LTD | 8,423 | 32.9 | 4.82 | — | 6.5 | 8.6 | — | 18.0 |
| RHI MAGNESITA INDIA LTD | 7,757 | — | 2.18 | — | (10.8) | (8.2) | 24.0 | 14.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 27 Aug 2026 · 37th AGM notice and e-voting info published in newspapers | compliance | minimal | — | — |
| 26 Aug 2026 · Notice of 37th AGM on September 23, 2026 via video conferencing | board shareholder meetings | medium | — | — |
| 26 Aug 2026 · Notice of 37th AGM and Annual Report for FY 2025-26 | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Newspaper publication of 37th AGM notice for De Nora India | compliance | minimal | — | — |
| 13 Aug 2026 · Reminder to physical shareholders to update PAN and KYC details | compliance | minimal | — | — |
| 11 Aug 2026 · Reminder on special window for dematerialisation of physical shares | compliance | minimal | — | — |
| 31 Jul 2026 · De Nora India Q1 FY27 Results: Net Profit Rs 638.96 lakh, EPS Rs 12.04 | compliance | minimal | — | — |
| 30 Jul 2026 · De Nora India sets Sep 16, 2026 as record date for Rs. 4 dividend | corporate actions | high | — | — |
| 30 Jul 2026 · De Nora India Q1 FY27 PAT nearly doubles YoY despite lower revenue | results | high | — | — |
| 21 Jul 2026 · Board meeting on July 30, 2026 to approve Q1 financial results | results | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| HEG LIMITED |
| 4,578 |
| 12.8 |
| 0.96 |
| 9.9 |
| 7.2 |
| 5.9 |
| 15.4 |
| 28.5 |
| IFGL REFRACTORIES LIMITED | 1,480 | 36.2 | 1.26 | 11.6 | 3.0 | 3.6 | 13.1 | 7.8 |
| FOSECO CRUCIBLE INDIA LIMITED | 1,101 | 51.2 | 7.85 | — | 13.4 | 18.8 | — | (1.0) |
| ORIENT CERATECH LIMITED | 545 | 20.9 | 1.80 | 11.2 | 7.2 | 8.4 | — | 17.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 34.4 | 33.6 | 6 of 10 | 44% |
| P/B | 3.2 | 2.5 | 7 of 10 | 33% |
| ROCE | 9.3 | 8.6 | 5 of 11 | 60% |
| ROE | 7.0 | 7.2 | 7 of 11 | 40% |
| Debt / Equity | 0.0 | 0.0 | 2 of 11 | 60% |
| EBITDA margin | 25.9 | 18.0 | 5 of 11 | 60% |
| Revenue growth | (16.0) | 5.6 | 10 of 11 | 10% |
| Profit growth | 96.7 | 57.8 | 3 of 11 | 80% |
| Market cap | 419 | 1480 | 9 of 11 | 20% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
