Review

INDO-NATIONAL LIMITED

Ticker : 504058 
FV : Rs 10 
52-Week H/L : Rs 749/347.30

We had previously recommended Indo-National Limited in volume 37, issue no.11 (dated January 04, 2021), when the scrip was trading at Rs 725 on the basis of predicted growth in the earnings as demand normalises. Indo-National Limited is a company that manufactures batteries in India. On the consolidated quarterly front, the company reported net sales of Rs 159.90 crore for Q2FY21, which is an increase of 13.86 per cent from its net sales of Rs 140.43 crore reported for Q2FY20. The operating profit inched up by 0.49 per cent to Rs 26.26 crore in Q2FY21 from Rs 26.13 crore posted in Q2FY20. The company gained a net profit of Rs 14.36 crore in Q2FY21, which is an increase of 9.04 per cent compared to the net profit of Rs 13.17 crore gained in Q2FY20. Forecasting the promising demand for dry cell batteries in India, Indo-National Limited shows strong growth potential. Hence, we recommend HOLD.