Fundamental Analysis
INDO-NATIONAL LTD.
Ticker : 504058
BUY : Rs 646.10
Target : Rs 720.00

Indo-National Ltd. (INL) is a consumer goods company with a portfolio comprising dry-cell batteries, Mosquito bats, LED lights, Flashlights, electrical accessories and DORCO Blades. It is a supplier of composites to the railway, aerospace and defence industries. On a consolidated quarterly front, the net sales rose by 13.86 per cent in Q2FY21 to Rs 159.90 crore from Rs 140.43 crore in Q2FY20. The company reported an operating profit of Rs 26.26 crore in Q2FY21, up by 0.49 per cent from Rs 26.13 crore reported in Q2FY20. Similarly, the net profit increased by 9.04 per cent from Rs 13.17 crore reported in Q2FY20 to Rs 14.36 crore reported in Q2FY21. Indo-National has reported a robust performance in Q2FY21. There is an improvement in demand for batteries. Indo-National is also focusing on adding supermarkets and retail chains to its distribution channels and the commencement of online sales will further augment its growth in the quarters ahead. Hence, we recommend a BUY.