# Indo SMC share price today (Indo SMC Ltd, NSE: INDOSMC)

> Indo SMC share price today: ₹421.20 at the BSE close on 3 November 2026. Indo SMC (NSE: INDOSMC) is worth ₹963 crore and trades at a P/E of 29.8. > Indo SMC Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. INDOSMC · Electric Equipment - General · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/indo-smc-ltd

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## Key numbers

- Price: ₹421.20
- P/E: 29.8× (lower than 63% of the last 10 months)
- Revenue (Mar 2026): ₹197 Cr (+185.5% on a year ago)
- Profit (Mar 2026): ₹21.0 Cr (+320.0% on a year ago)
- Operating margin: 15.0% (+4.0 points on a year ago)
- ROCE: 34%, FY26

The main question: profits are rising, but only −100% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Indo SMC share price today? Indo SMC Ltd's share price was ₹421.20 at the close on 3 November 2026. It has been rising for 28 weeks. That is 19.8% above its average price over the last 200 trading days. There is not enough history yet to compare it with the NIFTY 500. Since its first close in our records, on 3 July 2026, it has traded between ₹370 and ₹528, and at that close it sat 32% of the way up from that low. Over the last 4 months the share price moved +4% while the NIFTY 500 moved −6%, so it is ahead of the index over that whole period. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What are Indo SMC's latest quarterly results? For January to March 2026 (the quarter ended 31 March 2026), Indo SMC reported revenue of ₹197 crore, up 185.5% from ₹69.0 crore a year earlier, and a profit of ₹21.0 crore, up 320.0% from ₹5.00 crore. ### Indo SMC results: January to March 2026 against a year earlier

| Measure | January to March 2026 | January to March 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹197 crore | ₹69.0 crore | +185.5% |
| Profit | ₹21.0 crore | ₹5.00 crore | +320.0% |
| Earnings per share | ₹9.16 | ₹2.82 | +224.8% |
| Operating margin | 15.0% | 11.0% | +4.0 points |

The next results, for April to June 2026, were due by 14 August 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). This page shows them once our weekly data update has read them. The newest call in our records is from 25 September 2026, about April to June 2026; a call about these results is not in our records yet. (From the company's reported quarterly results (quarter ended 31 March 2026). Revenue and profit in ₹ crore.)

## What is the Indo SMC share price history? Indo SMC closed at ₹421.20 on 3 November 2026. Its highest weekly close since July 2026 was ₹528.10 on 11 September 2026. ### Indo SMC share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 27 Oct 2026 | ₹430.00 | −2.0% |
| 1 month ago · 1 Oct 2026 | ₹505.20 | −16.6% |
| Earliest weekly close in our records · 3 Jul 2026 | ₹405.65 | +3.8% |
| Highest weekly close since July 2026 · 11 Sep 2026 | ₹528.10 | −20.2% |
| Lowest weekly close since July 2026 · 17 Jul 2026 | ₹375.25 | +12.2% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (17 weekly closes from 3 July 2026 to 3 November 2026.)

## What is the latest news on Indo SMC? 3 Nov 2026: Indo SMC closed at ₹421.20, down 2.0% on the week and down 16.6% on the month. 25 Sep 2026: Indo SMC held its results call for April to June 2026. Management guided: FY27 revenue growth approximately 40%, with potential to exceed goal. ### Earlier

- Results for January to March 2026: Revenue up 185.5% and profit up 320.0% on a year earlier. ## What dividend does Indo SMC pay? Indo SMC has paid no dividend on the NSE since its first NSE close in our records (3 July 2026), the start of the period we checked. No. Indo SMC Ltd paid out 0% of its profit as dividends in each of its last 4 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Indo SMC management say on the latest results call? On the call for April to June 2026, held on 25 September 2026, Indo SMC's management guided: FY27 revenue growth approximately 40%, with potential to exceed goal. > “We are almost on track. If we are targeting 40%, we are moving accordingly and should achieve approximately 40% growth. We may perform even better because of the way we have expanded our product range.”
> Neel Niteshbhai Shah, on the call for April to June 2026

### What management guided

- Operating cash flow positive this year, supported by setting aside 15-20% of receipts and maintaining 45-day terms. - Bank financing prioritized; preferential allotment or QIB issue considered, with a QIB route possible if the company can wait until January. - Larger Nashik plant operational from October 1; office and laboratory facilities to follow in another 1-2 months. - 2,000-ton machine expected by end-December; Ahmedabad FRP machinery installation to follow after another 1-2 months. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/59438-25-Sep-2026.pdf). (From the call for April to June 2026, 25 September 2026.)

## What to watch in Indo SMC's next results? When Indo SMC reports April to June 2026, these are the 4 checks that show whether the story is still on course. First: July to September 2026 revenue and profitability print to confirm whether the better-than-Q1 trajectory is converting into the growth framework. - What to check (from the call)
- July to September 2026 revenue and profitability print to confirm whether the better-than-Q1 trajectory is converting into the growth framework. - Larger Nashik plant to be operational as scheduled, with electrical dispatch ramp visible in the next print. - VCB approvals and Uttar Pradesh tender conversion to move from submitted documents into executable orders. - Collections and payment-term discipline to show progress toward positive operating cash flow before external funding is finalized. ## Which stock lists is Indo SMC on? Indo SMC is not on any of our India lists this week. ## Is Indo SMC profitable? Indo SMC Ltd earned ₹21.0 Cr of net profit in the Mar 2026 quarter, +320.0% on the same quarter a year earlier. Full-year FY26 profit was ₹32.0 Cr. That is 10.7% of the quarter's revenue. For the full year, FY26 profit was ₹32.0 Cr (+88.2% on the year before). ## How much revenue does Indo SMC make, and is it growing? Indo SMC Ltd reported ₹197 Cr of revenue in the Mar 2026 quarter, +185.5% on the same quarter a year earlier. Over 4 years it has grown 319.6% a year on average. The last full year, FY26, came in at ₹310 Cr. FY26 revenue was ₹310 Cr, +123.0% on the year before. Recent pace: the last four quarters grew +185.5% on average, against 319.6% a year over the longer run, so this year is growing slower than its own long-run rate. ## How much of every ₹100 of sales does Indo SMC keep? Indo SMC Ltd's operating margin was 15.0% in the Mar 2026 quarter, 4.0 percentage points higher than the same quarter a year ago. Across 5 years it has been between 14.0% and 18.0%. The latest quarter is within that range. Why: the operating margin move is clear, but the cost details behind it are not in our data, so we show the move without guessing the reason. ## Is Indo SMC's profit turning into cash? Over the last 3 years Indo SMC Ltd's operations used more cash than they brought in, so cash conversion was −100%, a gap worth watching. In FY26 its operations used ₹35.0 Cr of cash, against ₹32.0 Cr of profit. After ₹6.0 Cr of spending on assets, free cash was −₹41.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why −100% of profit came in as cash: the cash cycle got 347 days shorter between FY22 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: the bigger use of cash is spending on new assets, at 13.0× depreciation over three years. The next section checks what that spending is building. ## Where does Indo SMC's cash go? Indo SMC Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 155 days in FY26, down from 502 days in FY22. It spent ₹26.0 Cr on assets over the last 3 years. Customers take 42 days to pay, and stock sits for 135 days on average. At FY26 sales of ₹310 Cr, each day of that cycle ties up about ₹0.8 Cr, so roughly ₹132 Cr is tied up in the business at any time. FY26: customers took 42 days to pay and stock sat for 135 days, about 4.4 months of sales sitting as stock, for a full cycle of 155 days, shorter than FY22's 502. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 135 days. Customers pay about 42 days after that. Suppliers are paid at 23 days. Together that makes the 155-day cycle. Spending on assets: ₹26.0 Cr over the last 3 years, against ₹2.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹8.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Indo SMC's P/E ratio, and how does it compare with its own history? Indo SMC Ltd's P/E is 29.8×, in the middle of its own history: higher than 37% of past readings. Its usual P/E (the middle reading) is 35.0×, over 10 months of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Indo SMC business getting better or worse? Indo SMC Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 4 quarters of 1 measure, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Indo SMC earn on its capital? Indo SMC Ltd earned a ROCE of 34% in FY26. That is up from a low of 17% in FY23. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 10.3% net margin and 1.38× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 10.3% net margin × 1.38× asset turnover × 1.45× leverage (assets divided by equity) ≈ 20.6% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. ## Does Indo SMC have too much debt? Indo SMC Ltd had ₹47.0 Cr of borrowings against ₹154 Cr of equity in FY26, so its debt is 0.31× its equity. Its operating profit is 8 times its interest bill. Over 4 years borrowings went from ₹0.0 Cr to ₹47.0 Cr. Over the last 3 of those years it spent ₹26.0 Cr on assets. Part of the spending on assets is being paid for with borrowed money. ## What is the Indo SMC shareholding pattern? No group of Indo SMC Ltd's owners changed its stake by a full percentage point over the last 3 quarters. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. ## How far is Indo SMC from balance-sheet trouble? For Indo SMC Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Indo SMC rank in its industry? There is no score against its industry: Indo SMC Ltd is not present in the sector comparison for Electric Equipment - General. The score ranks a company within its industry: each measure is scored against the other members. Without that group there is no score, so none is shown. ## Which companies is Indo SMC compared with? No sector comparison is shown here, not present in the sector comparison. ## Which companies are close to Indo SMC in size? Indo SMC is the 9th largest of 14 Electric Equipment - General companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Vidya Wires, Hindusthan Insulators & Industries and Vivid Electromech. Just below it: Indosolar, Saakshi Medtech & Panels and Parth Electricals & Engineering. ### Electric Equipment - General companies close in size

1. [Vidya Wires Ltd](https://www.sectoralpha.in/stocks/vidya-wires-ltd) ₹1,729 crore
2. [Hindusthan Insulators & Industries Ltd](https://www.sectoralpha.in/stocks/hindusthan-insulators-industries-ltd) ₹1,626 crore
3. [Vivid Electromech Ltd](https://www.sectoralpha.in/stocks/vivid-electromech-ltd) ₹1,008 crore
4. Indo SMC Ltd ₹941 crore
5. [Indosolar Ltd](https://www.sectoralpha.in/stocks/indosolar-ltd) ₹797 crore
6. [Saakshi Medtech & Panels Ltd](https://www.sectoralpha.in/stocks/saakshi-medtech-panels-ltd) ₹714 crore
7. [Parth Electricals & Engineering Ltd](https://www.sectoralpha.in/stocks/parth-electricals-engineering-ltd) ₹659 crore

[All 14 Electric Equipment - General companies, largest first](https://www.sectoralpha.in/sectors/electric-equipment-general#all-companies)

### Companies close in size in other industries

1. [Tejas Cargo India Ltd](https://www.sectoralpha.in/stocks/tejas-cargo-india-ltd) ₹946 crore · Logistics
2. [Nahar Spinning Mills Ltd](https://www.sectoralpha.in/stocks/nahar-spinning-mills-ltd) ₹943 crore · Textiles - Hosiery/Knitwear
3. Indo SMC Ltd ₹941 crore
4. [The Hi-Tech Gears Ltd](https://www.sectoralpha.in/stocks/the-hi-tech-gears-ltd) ₹941 crore · Auto Ancillaries - Gears
5. [Wonder Electricals Ltd](https://www.sectoralpha.in/stocks/wonder-electricals-ltd) ₹941 crore · Consumer Electronics

## What else do people ask about Indo SMC? ### What is Indo SMC's share price today? Indo SMC Ltd's share price is ₹421.20. The whole company is worth ₹963 Cr on the market. In the last 52 weeks it traded between ₹370 to ₹528; today it is 32% of the way up from the low, 19.8% above its 200-day average. The price has been rising for 28 weeks (as of 3 November 2026). ### What were Indo SMC's latest quarterly results? Indo SMC Ltd reported revenue of ₹197 Cr and net profit of ₹21.0 Cr for the Mar 2026 quarter. Revenue rose 185.5% and profit rose 320.0% compared with a year earlier. Earnings per share were ₹9.16. The operating margin was 15.0%, 4.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Indo SMC's market cap? Indo SMC Ltd's market capitalisation is ₹963 Cr at a share price of ₹421.20. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Indo SMC performing? Indo SMC Ltd's share price has been rising for 28 weeks. In its latest quarter, revenue rose 185.5% and profit rose 320.0% compared with a year earlier. This describes what the data did, not a rating (as of 3 November 2026). ### Is Indo SMC in an uptrend? Yes, the price has been rising for 28 weeks (stage 2 of 4), 19.8% above its 200-day average, and 32% of the way up its 52-week range. A share price tends to move through four phases: moving sideways, rising, stalling and falling (as of 3 November 2026). ### Will Indo SMC's share price go up? This page does not forecast Indo SMC Ltd's share price. What it shows instead: the share price is ₹421.20, and it has been rising for 28 weeks. Its P/E of 29.8× is higher than 37% of its own last 1 years (as of 3 November 2026). ### Who owns Indo SMC? Promoters own 60.3% of Indo SMC Ltd, foreign institutions 0.0%, domestic institutions 1.9% and the public 37.8% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 3 November 2026). ### Where is Indo SMC in its business cycle? Indo SMC Ltd's FY26 operating margin was 15.0%, against a 5-year range of 14.0% to 18.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 15.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Indo SMC story? The main question: profits are rising, but only −100% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Indo SMC a stock worth studying right now? What the numbers show: Indo SMC Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Indo SMC share price forecast for 2026? What management itself guided: FY27 revenue growth approximately 40%, with potential to exceed goal. This is research, not advice. We’re not SEBI-registered.