Indo Rama Synthetics (India) Ltd
INDORAMAIndo Rama Synthetics (India) Ltd's earnings have outrun its stock. EPS grew +11,400.0% in a year against a +61.2% price move.
The sharpest disagreement: annual EPS moved +11,400.0% against a +61.2% price move — the market has not yet caught up with the delivery.
The price is in a confirmed uptrend (9 weeks in) while the P/E sits at the 89th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +20.8% year on year, and 173% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Indo Rama Synthetics (India) Ltd trades at ₹86.5, in a confirmed uptrend and 9 weeks into that stage. That is +73.5% against its own 200-day average. It sits at 100% of a 52-week range of ₹31 to ₹87. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 21 straight weeks.
Today the stock is in a confirmed uptrend — week 9 of stage 2, confirmed. At ₹86.5 it trades +73.5% versus its 200-day average and sits at 100% of its 52-week range (₹31–₹87).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +201% while the NIFTY 500 moved +267% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 21 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Indo Rama Synthetics (India) Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: MID_EXPANSION. Our fortnightly research layers last read it on 22 August 2026.
Our read, 22 August 2026. Indo Rama has delivered a cyclical earnings recovery to 150 Cr PAT in FY26 as operating margin expanded to 11%, but total borrowings of 1,140 Cr and peak-margin mean-reversion vulnerability constrain risk-reward.
What is proven. Indo Rama has delivered a cyclical earnings recovery to 150 Cr PAT in FY26 as operating margin expanded to 11%, but total borrowings of 1,140 Cr and peak-margin mean-reversion vulnerability constrain risk-reward.
What is not proven yet. Operating margin remaining above 9% across four consecutive quarters alongside revenue growth exceeding 10% YoY and net debt reduction of at least 200 Cr would invalidate the peak-margin thesis and indicate structural cost transformation.
🚨 What would change our mind. Operating margin remaining above 9% across four consecutive quarters alongside revenue growth exceeding 10% YoY and net debt reduction of at least 200 Cr would invalidate the peak-margin thesis and indicate structural cost transformation.
🚨 Layer 1 read, 22 August 2026 — DROP. The profit doubled on a chemical spread, not on selling more — and sales fell 28% while it happened. Indo Rama earned 64 Cr last quarter, up 20.8% on the year, but it sold 28.3% LESS than a year ago — every rupee of the improvement came from a wider gap between what it pays for raw material and what it charges for yarn. That gap is now the widest it has been in ten years (11% operating margin against a 2.0% normal level), and my own check of the gross-margin series shows it already narrowing in the latest quarter. The company has 1,140 Cr of debt costing 131 Cr a year, pays no tax because of past losses, and has never held an earnings call we can read — so there is no way to test whether management thinks this margin lasts.
What would change Layer 1’s mind. Four consecutive quarters holding operating margin above 9% WITH revenue back above 1,100 Cr a quarter and borrowings below 1,050 Cr — that combination would prove the margin is structural rather than a spread, and would flip this from bottom-of-slate to a genuine depressed-breakout candidate. The reverse, a single quarter with margin back below 7% (the timeline's own R1 watch signal), confirms the peak read.
The test written in advance. Operating margin remaining above 9% across four consecutive quarters alongside revenue growth exceeding 10% YoY and net debt reduction of at least 200 Cr would invalidate the peak-margin thesis and indicate structural cost transformation. — the thesis as written as stated by the next result.
The test written in advance. Peak Operating Margin Mean-Reversion — Peak Operating Margin Mean-Reversion Quarterly operating profit margin declining below 7.0%. by the next result.
The test written in advance. Elevated Debt Load and Interest Burden — Elevated Debt Load and Interest Burden Total borrowings exceeding 1,200 Cr or quarterly interest coverage ratio falling below 2.0x. by the next result.
What the company does. Operating profit reached 312 Cr in FY26 from negative 37 Cr in FY24 as margin expanded from 0.3% in Sep 2024 to 11% in Jun 2026. However, Jun 2026 revenue declined 28.3% YoY to 937 Cr, indicating volume contraction alongside margin expansion. With debt at 1,140 Cr and historical normalized margins at 2%, current trailing valuation of 10.0x PE reflects a cyclical peak setup.
🚨 What the surface reading misses. The surface reading is: Trailing PE of 10.0 appears reasonable for an industrial business delivering 150 Cr annual net profit. The research reads it further: Trailing EPS of 5.75 is cyclically elevated by peak operating margin of 11% compared to 10-year normalized margin of 2.0%; on normalized earnings (normalized PAT of negative 65 Cr), standard valuation is not supported.
🚨 What the surface reading misses. The surface reading is: Market cap of 1,637 Cr at 62.70 INR price reflects a small-cap valuation following cyclical earnings turnaround. The research reads it further: Current market cap of 1,637 Cr implies a modest 10.9x multiple on FY26 PAT of 150 Cr, but this optical valuation rests on peak operating margins of 11.0% vs 2.0% 10-year normalized average.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Indo Rama Synthetics (India) Ltd reported ₹937 Cr of revenue in the Jun 26 quarter, −28.3% year on year. Over 12 years it has compounded at 5.3% a year. The last full year, FY26, came in at ₹4,910 Cr. The last four reported quarters add to ₹4,542 Cr.
FY26 revenue came in at ₹4,910 Cr (+15.3% on the year), capping 12 years at 5.3% compound. The latest quarter (Jun 26) printed ₹937 Cr, −28.3% year on year.
Pace check: the last four quarters averaged +0.4% growth against the decade's 5.3% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew −1.7% over the last 4 quarters against +5.9%/yr over the last 8 — rolling over.
FY26-Q4. revenue ₹1,202 Cr and profit ₹64 Cr as reported.
FY27-Q1. revenue ₹937 Cr and profit ₹64 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Indo Rama Synthetics (India) Ltd's operating margin is 11.0% in the Jun 26 quarter, +4.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −1.1% to 8.0%. The current quarter is running above every full year in that window.
Why this happened. Indo Rama experienced an operating margin improvement from 0.3% in Sep 2024 to 7% in Jun 2025, 9% in Mar 2026, and 11% in Jun 2026. This 1,070 bps recovery from Sep 2024 to Jun 2026 represents the margin inflection model, converting quarterly operating profit from 3 Cr in Sep 2024 to 102 Cr in Jun 2026.
The latest quarter's operating margin is 11.0%, +4.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −1.1%–8.0%.
Why the margin moved: operating margin went +3.9 pp year on year while gross margin went +3.2 pp — the gain came mostly from the gross line: input costs and pricing.
FY26-Q4. revenue ₹1,202 Cr and profit ₹64 Cr as reported.
FY27-Q1. revenue ₹937 Cr and profit ₹64 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Indo Rama Synthetics (India) Ltd earned ₹64.0 Cr of net profit in the Jun 26 quarter, +20.8% year on year. It is the 2nd consecutive quarter of growth. Full-year FY26 profit was ₹150 Cr. That is 6.8% of the quarter's revenue. The same quarter a year earlier earned ₹53.0 Cr. 5 of the last 12 reported quarters were loss-making.
Jun 26 profit was ₹64.0 Cr, +20.8% year on year — the 2nd consecutive quarter of growth. On the full year, FY26 printed ₹150 Cr (+14,900.0%).
Why profit moved: revenue contributed −28.3% and the margin +4.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +3.5% vs revenue +0.4%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
FY26-Q4. revenue ₹1,202 Cr and profit ₹64 Cr as reported.
FY27-Q1. revenue ₹937 Cr and profit ₹64 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 173% of Indo Rama Synthetics (India) Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹134 Cr of operating cash against ₹150 Cr of profit. After ₹22.0 Cr of capital spending, ₹112 Cr was left as free cash.
Why this happened. Working capital management showed debtor days at 18 and inventory days at 65 in Mar 2026, while payable days stood at 141, yielding a negative 58 day cash conversion cycle. This structure enabled FY26 operating cash flow to reach 134 Cr.
FY26: operating cash of ₹134 Cr against reported profit of ₹150 Cr, leaving free cash of ₹112 Cr after ₹22.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 173% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 173%: the cash cycle stretched 42 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: the bigger cash user is investment — capital spending ran 2.2× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Indo Rama Synthetics (India) Ltd's cash conversion cycle runs −58 days in FY26, up from −100 days in FY21. Capital spending ran ₹302 Cr over the last 3 years. At FY26 sales of ₹4,910 Cr each day of that cycle holds about ₹13.5 Cr, so roughly ₹−780 Cr sits inside the business at any moment.
Why this happened. Annual revenue scaled from 3,873 Cr in FY24 to 4,910 Cr in FY26 as modernization and debottlenecking capex of 771 Cr between FY22 and FY26 came onstream. Annual operating profit rebounded from negative 37 Cr in FY24 to positive 312 Cr in FY26.
FY26: debtors at 18 days, inventory at 65 days — roughly 2.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −58 days, looser than FY21's −100.
The full loop: cash goes out to suppliers and production on day 0; stock waits 65 days to sell; customers pay about 18 days after that; and suppliers themselves are paid at 141 days — netting out to the −58-day cycle.
In money terms: at FY26 sales of ₹4,910 Cr, each day of the cycle holds about ₹13.5 Cr — so the −58-day loop keeps roughly ₹−780 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹302 Cr over the last 3 fiscal years against ₹135 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹42.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Indo Rama Synthetics (India) Ltd earns a ROCE of 18% in FY26. That is up from a trough of −8% in FY14. Return on invested capital clears the cost of that capital by +6.8 percentage points, so growth here adds value rather than only size. The wiring behind it is 3.1% net margin on 1.51× asset turns.
FY26 ROCE is 18%, recovered from a FY14 trough of −8% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 3.1% net margin × 1.51× asset turns × 6.25× balance-sheet leverage ≈ 29.3% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 18.8% − 12.0% = a +6.8 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Indo Rama Synthetics (India) Ltd carries total debt of ₹1,140 Cr against shareholder equity of ₹519 Cr as of Mar 26, a debt-to-equity of 2.20. On the annual view that ratio went from 0.60 in FY22 to 2.20 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Why this happened. With capex tapering to 22 Cr in FY26 from 254 Cr in FY24 and 401 Cr in FY23, free cash flow turned positive to 112 Cr in FY26. Allocating operating cash toward debt repayment would lower the 131 Cr annual interest burden.
Mar 26: total debt of ₹1,140 Cr against shareholder equity of ₹519 Cr — a debt-to-equity of 2.20. On the annual view, debt-to-equity went from 0.60 (FY22) to 2.20 (FY26). Read the returns on this page with that leverage in mind.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions cut 2.0 points of Indo Rama Synthetics (India) Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 0.9% of the company. Foreign institutions moved +0.1 points over the same window, to 0.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: −2.0 points over 8 quarters to 0.9%; Foreign institutions: +0.1 points over 8 quarters to 0.1%; Promoters: +0.0 points over 8 quarters to 74.8%.
🚨 Why the register moved: domestic institutions drove it (−2.0 points) — distribution into the market’s bid.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Indo Rama Synthetics (India) Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Indo Rama Synthetics (India) Ltd trades at 13.8× P/E, at the pricey end of its own range (89th percentile). Its long-run median P/E is 7.0×, measured across 10.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 13.8× is at the pricey end of its own range (89th percentile), against a long-run median of 7.0× measured over 10.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +11,400.0% against a +61.2% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +9.5%/yr price move, ~−4.4%/yr came from earnings growth and ~+13.9 pp from the multiple (expanding); over 10y, of the +10.3%/yr price move, ~+3.3%/yr came from earnings growth and ~+7.0 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 27 August 2026 price, Indo Rama Synthetics (India) Ltd was paying for profit growth of about 2.9% a year. Today the market pays 13.8× P/E, the 89th percentile of its own 10-year range.
What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is the whole of what a buyer is backing.
How to hold this number: it is a reading of one day's price, taken on 27 August 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Indo Rama Synthetics (India) Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 8 quarters across 2 curves, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +15.3% | +6.3% | +19.2% | +6.9% |
| Profit | +14,900.0% | — | +5.8% | +14.7% |
| EPS | +11,400.0% | — | +5.8% | +8.8% |
| Share price | +61.2% | +18.4% | +9.5% | +10.3% |
4-Factor Sector Score
54.3/100 — rank 5 of 13 in Textiles - Spinning · 81% evidence confidence
Indo Rama Synthetics (India) Ltd scores 54.3 out of 100 against the 13 companies it is compared with in Textiles - Spinning, ranking 5. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 23.1 + 11.5 + 11.7 + 8 = 54.3. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Sportking India LtdSPORTKING | 65.7/100Favorable setup100% evidence | LEADER | 23.6/35 Revenue 5.5% · PAT 38.5% · OPM change 7 pp 100% evidence | 14.7/25 ROCE 13.2% · OPM 19% 100% evidence | 11.0/20 P/E 16.9× · PEG 0.64 100% evidence | 16.4/20 RS sector 30.5% · RS bench 59.1% · 1Y 97.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 23.6 + 14.7 + 11 + 16.4 = 65.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Swaraj Suiting LtdSWARAJ | 65.3/100Favorable setup87% evidence | BREAKING OUT | 17.7/35 Revenue 38.1% · PAT 45.2% · OPM change -13 pp 95% evidence | 19.4/25 ROCE 17.9% · OPM 19% 95% evidence | 12.5/20 P/E 14.5× · PEG — 50% evidence | 15.7/20 RS sector -0.2% · RS bench 24.2% · 1Y 102%11 of 12 weeks ahead 100% evidence |
| Exact sum: 17.7 + 19.4 + 12.5 + 15.7 = 65.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Sangam (India) LtdSANGAMIND | 64.9/100Mixed-positive evidence100% evidence | LEADER | 29.4/35 Revenue 11.9% · PAT 100% · OPM change 5 pp 100% evidence | 11.0/25 ROCE 10.4% · OPM 12% 100% evidence | 15.7/20 P/E 22.8× · PEG 0.52 100% evidence | 8.8/20 RS sector -5.4% · RS bench 18.3% · 1Y 57.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 29.4 + 11 + 15.7 + 8.8 = 64.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Ambika Cotton Mills LtdAMBIKCO | 54.7/100Mixed-positive evidence87% evidence | TURNING | 21.3/35 Revenue 23.8% · PAT 36.7% · OPM change 1 pp 95% evidence | 15.7/25 ROCE 11.6% · OPM 15% 95% evidence | 11.0/20 P/E 11.2× · PEG — 50% evidence | 6.7/20 RS sector -11.5% · RS bench 10.7% · 1Y 8.6%7 of 12 weeks ahead 100% evidence |
| Exact sum: 21.3 + 15.7 + 11 + 6.7 = 54.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Indo Rama Synthetics (India) Ltdthis pageINDORAMA | 54.3/100Mixed-positive evidence81% evidence | BREAKING OUT | 23.1/35 Revenue -1.7% · PAT 100% · OPM change 4 pp 95% evidence | 11.5/25 ROCE 17.9% · OPM 11% 95% evidence | 11.7/20 P/E 13.8× · PEG — 50% evidence | 8.0/20 RS sector -32.5% · RS bench 81.4% · 1Y 65.7%10 of 10 weeks ahead 70% evidence |
| Exact sum: 23.1 + 11.5 + 11.7 + 8 = 54.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Nitin Spinners LtdNITINSPIN | 53.8/100Mixed-positive evidence100% evidence | LEADER | 16.3/35 Revenue 0% · PAT 21.3% · OPM change 4 pp 100% evidence | 14.2/25 ROCE 12.2% · OPM 18% 100% evidence | 6.6/20 P/E 17.3× · PEG 1.42 100% evidence | 16.7/20 RS sector 26.4% · RS bench 55.5% · 1Y 97.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 16.3 + 14.2 + 6.6 + 16.7 = 53.8 · Decision use: Price leads the evidence: RS versus the benchmark is 55.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 7RSWM LtdRSWM | 50.1/100Mixed-positive evidence80% evidence | LEADER | 19.9/35 Revenue -5.1% · PAT 100% · OPM change 2 pp 95% evidence | 5.4/25 ROCE 5.6% · OPM 8% 95% evidence | 10.7/20 P/E 14.3× · PEG — 15% evidence | 14.1/20 RS sector 6.6% · RS bench 32.9% · 1Y 41.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 19.9 + 5.4 + 10.7 + 14.1 = 50.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8K P R Mill LtdKPRMILL | 49.1/100Mixed-negative evidence100% evidence | LEADER | 10.9/35 Revenue 4.2% · PAT 10.7% · OPM change 1 pp 100% evidence | 19.6/25 ROCE 19.6% · OPM 19% 100% evidence | 7.8/20 P/E 41.6× · PEG 1.39 100% evidence | 10.8/20 RS sector -11% · RS bench 12.1% · 1Y 12.1%12 of 12 weeks ahead 100% evidence |
| Exact sum: 10.9 + 19.6 + 7.8 + 10.8 = 49.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Rajapalayam Mills LtdRAJPALAYAM | 48.8/100Mixed-negative evidence74% evidence | ASLEEP | 24.0/35 Revenue 16.7% · PAT 100% · OPM change 2 pp 95% evidence | 8.0/25 ROCE 1.8% · OPM 14% 95% evidence | 11.5/20 P/E 5.8× · PEG — 15% evidence | 5.3/20 RS sector -13% · RS bench -4% · 1Y -11.3%0 of 10 weeks ahead 70% evidence |
| Exact sum: 24 + 8 + 11.5 + 5.3 = 48.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -13% and the one-year return is -11.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 10Pashupati Cotspin LtdPASHUPATI | 35.5/100Mixed-negative evidence87% evidence | ASLEEP | 13.8/35 Revenue -7.5% · PAT 2.4% · OPM change 5.6 pp 95% evidence | 12.7/25 ROCE 10% · OPM 9.5% 95% evidence | 7.7/20 P/E 81.4× · PEG — 50% evidence | 1.3/20 RS sector -24.8% · RS bench -5.1% · 1Y 20.1%0 of 12 weeks ahead 100% evidence |
| Exact sum: 13.8 + 12.7 + 7.7 + 1.3 = 35.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Sanathan Textiles LtdSANATHAN | 32.4/100Adverse evidence77% evidence | BREAKING OUT | 11.1/35 Revenue 48.6% · PAT -59.6% · OPM change -1 pp 100% evidence | 5.9/25 ROCE 6.9% · OPM 8% 100% evidence | 8.8/20 P/E 65.6× · PEG — 15% evidence | 6.6/20 RS sector -15% · RS bench 7.1% · 1Y -7.7%6 of 10 weeks ahead 70% evidence |
| Exact sum: 11.1 + 5.9 + 8.8 + 6.6 = 32.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Vardhman Textiles LtdVTL | 31.1/100Adverse evidence100% evidence | ASLEEP | 11.7/35 Revenue 3.3% · PAT 0.6% · OPM change 4 pp 100% evidence | 10.5/25 ROCE 8.6% · OPM 18% 100% evidence | 3.9/20 P/E 19.3× · PEG 2.65 100% evidence | 5.0/20 RS sector -12.6% · RS bench 8.9% · 1Y 39.2%4 of 12 weeks ahead 100% evidence |
| Exact sum: 11.7 + 10.5 + 3.9 + 5 = 31.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Jaybharat Textiles & Real Estate Ltd512233 | 42.3/100Thin evidence · provisional21% evidence | ASLEEP | 18.0/35 Revenue -5% · PAT — · OPM change — 12% evidence | 6.8/25 ROCE -29.1% · OPM -32% 46% evidence | 10.0/20 P/E — · PEG — 0% evidence | 7.5/20 RS sector — · RS bench -26.6% · 1Y -17.1%0 of 2 weeks ahead 25% evidence |
| Exact sum: 18 + 6.8 + 10 + 7.5 = 42.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Indo Rama Synthetics (India) Ltd's share price today?
Indo Rama Synthetics (India) Ltd trades at ₹86.5, +61.2% over the past year. The company is valued at ₹2,259 Cr. The stock sits at the very top of its 52-week range (₹31–₹87), +73.5% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 9 weeks in. — as of 11 September 2026.
What were Indo Rama Synthetics (India) Ltd's latest quarterly results?
Indo Rama Synthetics (India) Ltd reported revenue of ₹937 Cr and net profit of ₹64.0 Cr for the Jun 26 quarter. Revenue fell 28.3% and profit rose 20.8% year on year. Earnings per share were ₹2.44. The operating margin was 11.0%, 4.0 pp higher than a year earlier. — as of 11 September 2026.
What is Indo Rama Synthetics (India) Ltd's revenue?
Indo Rama Synthetics (India) Ltd reported revenue of ₹937 Cr in the Jun 26 quarter, −28.3% year on year. For the full FY26 fiscal year, revenue was ₹4,910 Cr (+15.3%). Over the last 12 years revenue compounded at 5.3% a year. — as of 11 September 2026.
What is Indo Rama Synthetics (India) Ltd's profit?
Indo Rama Synthetics (India) Ltd earned ₹64.0 Cr of net profit in the Jun 26 quarter, +20.8% year on year — the 2nd straight quarter of growth. Full-year FY26 profit was ₹150 Cr. The operating margin ran 11.0% in the latest quarter. — as of 11 September 2026.
What is Indo Rama Synthetics (India) Ltd's market cap?
Indo Rama Synthetics (India) Ltd's market capitalisation is ₹2,259 Cr at a share price of ₹86.5. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Indo Rama Synthetics (India) Ltd's P/E ratio?
Indo Rama Synthetics (India) Ltd trades at a P/E of 13.8×, at the 89th percentile of its own 10-year range, against a long-run median of 7.0×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Indo Rama Synthetics (India) Ltd pay a dividend?
Not in its latest year — Indo Rama Synthetics (India) Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 2 of its last 12 reported fiscal years, so there is a history but no current dividend. — as of 11 September 2026.
Is Indo Rama Synthetics (India) Ltd overvalued?
On its own history, Indo Rama Synthetics (India) Ltd looks expensive: its P/E of 13.8× sits at the 89th percentile of its 10-year range (long-run median 7.0×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Indo Rama Synthetics (India) Ltd growing?
Yes — Indo Rama Synthetics (India) Ltd is growing: latest-quarter revenue −28.3% year on year, profit +20.8%, and the margin +4.0 pp at 11.0%. The earnings engine currently reads: improving — as of 11 September 2026.
How is Indo Rama Synthetics (India) Ltd performing?
Indo Rama Synthetics (India) Ltd is in a confirmed uptrend, 9 weeks in. Its latest quarter's revenue fell 28.3% and profit rose 20.8% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 21 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
Is Indo Rama Synthetics (India) Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 9 of stage 2), trading +73.5% versus its 200-day average and at the very top of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Indo Rama Synthetics (India) Ltd beating the market?
On recent form, yes — Indo Rama Synthetics (India) Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 21 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +201% against the NIFTY 500's +267% — behind the index over the full window. — as of 11 September 2026.
Will Indo Rama Synthetics (India) Ltd's share price go up?
This page publishes no price forecast for Indo Rama Synthetics (India) Ltd. What it measures instead: the share price is ₹86.5, the price is in a confirmed uptrend 9 weeks in. Its P/E of 13.8× sits at the 89th percentile of its own 10-year range. — as of 11 September 2026.
Who owns Indo Rama Synthetics (India) Ltd?
Promoters hold 74.8% of Indo Rama Synthetics (India) Ltd, foreign institutions 0.1%, domestic institutions 0.9% and the public 24.1% (latest quarter). The biggest move on the register over the last two years: Domestic institutions cut 2.0 points over 8 quarters. — as of 11 September 2026.
Does Indo Rama Synthetics (India) Ltd have too much debt?
It carries real leverage — Indo Rama Synthetics (India) Ltd's debt-to-equity is 2.20, and operating profit covers the interest bill 2×. FY26 borrowings were ₹1,140 Cr against equity of ₹519 Cr. Read the returns on this page with that leverage in mind — as of 11 September 2026.
What is Indo Rama Synthetics (India) Ltd's capex?
Indo Rama Synthetics (India) Ltd spent ₹302 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹22.0 Cr, with ₹42.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Indo Rama Synthetics (India) Ltd's cash flow?
Indo Rama Synthetics (India) Ltd generated ₹134 Cr of operating cash flow in FY26 and ₹112 Cr of free cash flow after ₹22.0 Cr of capital spending. Reported profit that year was ₹150 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Indo Rama Synthetics (India) Ltd's profit real cash?
Yes — over the last 3 fiscal years, 173% of Indo Rama Synthetics (India) Ltd's reported profit arrived as operating cash. Though the latest year ran at 89% — the trend is the thing to watch. In FY26, operating cash was ₹134 Cr against reported profit of ₹150 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is Indo Rama Synthetics (India) Ltd in its business cycle?
Indo Rama Synthetics (India) Ltd's FY26 operating margin was 6.0%, against a 12-year band of −1.1%–8.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 11.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does Indo Rama Synthetics (India) Ltd's price assume?
At its price on 27 August 2026, Indo Rama Synthetics (India) Ltd was priced for profit growth of about 2.9% a year. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.
What could break the Indo Rama Synthetics (India) Ltd story?
The sharpest disagreement: annual EPS moved +11,400.0% against a +61.2% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Indo Rama Synthetics (India) Ltd a stock worth studying right now?
This is not investment advice. The machine read: Indo Rama Synthetics (India) Ltd's earnings have outrun its stock. EPS grew +11,400.0% in a year against a +61.2% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!