DE Nora India Ltd

DENORA

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Market Cap

₹ 389 Cr

P/E

146.86

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

SLUGGISH

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

De Nora India Limited is a leader in manufacturing electrolytic products, primarily for the chlor-alkali sector. Its technological collaboration with Gruppo De Nora of Italy supports its strong market position.

The company has diversified from its core chlor-alkali products to include high-tech solutions like cathodic protection systems and electrochlorinators, becoming a market leader in these sectors within India.

Its Goa-based manufacturing facility showcases the company's technical advancements, such as the Seaclor Mac electrochlorinator, highlighting its strong R&D capabilities.

De Nora India has a history of strategic expansion and adaptation, including a rights issue for new plant financing and the shutdown of less efficient operations to optimize costs.

Sector

Capital Goods-Non Electrical Equipment

Industry

Engineering - Light - General - Medium / Small

Market Cap

389 Cr

Volatility

Low Risk

P/E Ratio

146.9

Industry P/E

34.2

PEG Ratio

—

P/B Ratio

3.1

52W High

1,346.30

52W Low

651.00

Sales CAGR

-7.07%

-2.58%

7.30%

10Y

3.16%

Profit CAGR

-91.11%

-52.15%

-26.93%

10Y

-19.54%

ROE

TTM

2.08%

12.00%

12.66%

10Y

11.67%

ROCE

TTM

3.13%

16.11%

17.07%

10Y

15.98%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
TANKUP	767.00	406 Cr	266.32	15.51	0.00	11.29	10.21	5.27
DENORA	733.00	389 Cr	146.86	3.06	0.00	2.08	3.13	1.51
AXISOL	82.32	389 Cr	18.46	3.26	0.61	17.70	14.29	9.83
AARON	180.42	378 Cr	54.02	8.54	0.67	15.84	17.63	8.01
TECHERA	220.75	365 Cr	108.21	7.32	0.00	11.03	13.85	6.06
FLUIDOM	728.00	363 Cr	37.73	7.37	1.02	19.54	26.15	16.04
JOSTS	303.85	359 Cr	34.73	2.78	0.35	7.64	12.35	4.62

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	9.14	19	29	16	13	18	18	20	42	22
Expenses	9.36	11	22	9.92	9.82	15	29	16	40	18
Operating Profit	-0.22	7.64	7.49	6.26	2.94	3.21	-11	3.83	2.45	4.02
OPM %	-2.41	40.04	25.48	38.69	23.04	17.71	-64.86	19.03	5.84	18.41
Other Income	1.16	1.14	1.19	1.71	1.34	1.65	1.50	1.37	2.36	1.70
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.25	0.25	0.29	0.35	0.40	0.42	0.44	0.45	0.46	0.52
Profit Before Tax	0.70	8.53	8.38	7.61	3.88	4.44	-10	4.76	4.34	5.21
Tax %	25.71	25.56	22.79	25.62	25.77	26.13	24.32	29.83	25.12	25.53
Net Profit	0.52	6.35	6.48	5.66	2.88	3.28	-7.81	3.34	3.25	3.87
EPS in Rs	0.98	11.96	12.20	10.66	5.43	6.18	-14.71	6.29	6.12	7.29

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	28	27	33	48	51	74	74	74	69	98
Expenses	25	25	32	38	42	51	49	53	70	100
Operating Profit	2.87	2.17	0.36	10	8.35	23	25	21	-1.41	-1.90
OPM %	10.43	7.95	1.11	21.74	16.52	30.77	33.54	28.68	-2.05	-1.94
Other Income	3.31	3.26	3.99	2.46	1.83	0.96	3.86	5.20	5.86	6.88
Interest	0.00	0.00	0.00	0.00	0.00	0.15	0.01	0.00	0.00	0.00
Depreciation	0.85	2.13	2.53	2.59	2.60	2.67	1.37	1.15	1.70	1.77
Profit Before Tax	4.44	3.07	1.82	10	7.57	21	27	25	2.76	3.22
Tax %	32.95	45.00	12.82	21.49	25.46	26.28	25.33	24.65	38.57	36.02
Net Profit	2.98	1.69	1.59	8.13	5.65	15	20	19	1.69	2.06
EPS in Rs	5.62	3.18	2.99	15.31	10.63	29.10	38.19	35.80	3.19	4.99
Dividend Payout %	35.65	31.45	0.00	0.00	9.40	3.44	5.24	5.59	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5.31	5.31	5.31	5.31	5.31	5.31	5.31	5.31	5.31	5.31
Reserves	43	47	47	48	56	62	77	96	114	115
Borrowings	0.00	0.00	0.00	0.00	0.77	0.00	0.00	0.00	0.00	0.00
Other Liabilities	12	12	11	12	13	13	12	14	6.98	22
Total Liabilities	60	64	63	65	75	80	94	116	127	142
Fixed Assets	7.22	7.25	14	12	10	9.59	7.45	7.89	13	15
CWIP	1.90	7.35	0.00	0.26	0.59	0.00	0.64	2.20	1.95	2.87
Investments	19	20	20	14	4.73	3.95	23	42	55	52
Other Assets	32	29	29	40	60	66	62	64	57	73
Total Assets	60	64	63	65	75	80	94	116	127	142

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	14	7.22	1.89	-6.05	-7.24	16	12	14	16	3.13
Cash from Investing Activity	-12	-3.29	-2.39	7.39	7.35	1.09	-16	-24	-14	0.74
Cash from Financing Activity	-0.96	-2.58	-1.28	-0.64	0.77	-0.77	-0.53	-0.53	-1.06	-1.06
Net Cash Flow	1.11	1.35	-1.77	0.70	0.88	16	-4.99	-10	1.39	2.81

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%	53.68%
FIIs	0.52%	0.56%	0.56%	0.25%	0.19%	0.11%	0.10%	0.09%	0.10%	0.14%	0.03%	0.01%
DIIs	0.00%	0.00%	0.00%	-0.00%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%	0.22%
Public	45.80%	45.76%	45.76%	46.07%	45.92%	46.00%	46.01%	46.01%	46.00%	45.97%	46.07%	46.10%
Total Shareholders	8,888	9,383	11,054	12,748	14,615	15,415	14,878	15,813	16,033	15,762	15,485	15,024

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
May 11, 2023	Ms param value investments	Bulk	Buy	1,296.04	3.53 Cr	27,242	0.51

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

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Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
TANKUP	767.00	406 Cr	266.32	15.51	0.00	11.29	10.21	5.27
DENORA	733.00	389 Cr	146.86	3.06	0.00	2.08	3.13	1.51
AXISOL	82.32	389 Cr	18.46	3.26	0.61	17.70	14.29	9.83
AARON	180.42	378 Cr	54.02	8.54	0.67	15.84	17.63	8.01
TECHERA	220.75	365 Cr	108.21	7.32	0.00	11.03	13.85	6.06
FLUIDOM	728.00	363 Cr	37.73	7.37	1.02	19.54	26.15	16.04
JOSTS	303.85	359 Cr	34.73	2.78	0.35	7.64	12.35	4.62

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	9.14	19	29	16	13	18	18	20	42	22
Expenses	9.36	11	22	9.92	9.82	15	29	16	40	18
Operating Profit	-0.22	7.64	7.49	6.26	2.94	3.21	-11	3.83	2.45	4.02
OPM %	-2.41	40.04	25.48	38.69	23.04	17.71	-64.86	19.03	5.84	18.41
Other Income	1.16	1.14	1.19	1.71	1.34	1.65	1.50	1.37	2.36	1.70
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.25	0.25	0.29	0.35	0.40	0.42	0.44	0.45	0.46	0.52
Profit Before Tax	0.70	8.53	8.38	7.61	3.88	4.44	-10	4.76	4.34	5.21
Tax %	25.71	25.56	22.79	25.62	25.77	26.13	24.32	29.83	25.12	25.53
Net Profit	0.52	6.35	6.48	5.66	2.88	3.28	-7.81	3.34	3.25	3.87
EPS in Rs	0.98	11.96	12.20	10.66	5.43	6.18	-14.71	6.29	6.12	7.29

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	28	27	33	48	51	74	74	74	69	98
Expenses	25	25	32	38	42	51	49	53	70	100
Operating Profit	2.87	2.17	0.36	10	8.35	23	25	21	-1.41	-1.90
OPM %	10.43	7.95	1.11	21.74	16.52	30.77	33.54	28.68	-2.05	-1.94
Other Income	3.31	3.26	3.99	2.46	1.83	0.96	3.86	5.20	5.86	6.88
Interest	0.00	0.00	0.00	0.00	0.00	0.15	0.01	0.00	0.00	0.00
Depreciation	0.85	2.13	2.53	2.59	2.60	2.67	1.37	1.15	1.70	1.77
Profit Before Tax	4.44	3.07	1.82	10	7.57	21	27	25	2.76	3.22
Tax %	32.95	45.00	12.82	21.49	25.46	26.28	25.33	24.65	38.57	36.02
Net Profit	2.98	1.69	1.59	8.13	5.65	15	20	19	1.69	2.06
EPS in Rs	5.62	3.18	2.99	15.31	10.63	29.10	38.19	35.80	3.19	4.99
Dividend Payout %	35.65	31.45	0.00	0.00	9.40	3.44	5.24	5.59	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5.31	5.31	5.31	5.31	5.31	5.31	5.31	5.31	5.31	5.31
Reserves	43	47	47	48	56	62	77	96	114	115
Borrowings	0.00	0.00	0.00	0.00	0.77	0.00	0.00	0.00	0.00	0.00
Other Liabilities	12	12	11	12	13	13	12	14	6.98	22
Total Liabilities	60	64	63	65	75	80	94	116	127	142
Fixed Assets	7.22	7.25	14	12	10	9.59	7.45	7.89	13	15
CWIP	1.90	7.35	0.00	0.26	0.59	0.00	0.64	2.20	1.95	2.87
Investments	19	20	20	14	4.73	3.95	23	42	55	52
Other Assets	32	29	29	40	60	66	62	64	57	73
Total Assets	60	64	63	65	75	80	94	116	127	142

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	14	7.22	1.89	-6.05	-7.24	16	12	14	16	3.13
Cash from Investing Activity	-12	-3.29	-2.39	7.39	7.35	1.09	-16	-24	-14	0.74
Cash from Financing Activity	-0.96	-2.58	-1.28	-0.64	0.77	-0.77	-0.53	-0.53	-1.06	-1.06
Net Cash Flow	1.11	1.35	-1.77	0.70	0.88	16	-4.99	-10	1.39	2.81

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Its Goa-based manufacturing facility showcases the company's technical advancements, such as the Seaclor Mac electrochlorinator, highlighting its strong R&D capabilities.

De Nora India has a history of strategic expansion and adaptation, including a rights issue for new plant financing and the shutdown of less efficient operations to optimize costs.

Sector

Capital Goods-Non Electrical Equipment

Industry

Engineering - Light - General - Medium / Small

Market Cap

389 Cr

Volatility

Low Risk

P/E Ratio

146.9

Industry P/E

34.2

PEG Ratio

—

P/B Ratio

3.1

52W High

1,346.30

52W Low

651.00

Sales CAGR

-7.07%

-2.58%

7.30%

10Y

3.16%

Profit CAGR

-91.11%

-52.15%

-26.93%

10Y

-19.54%

ROE

TTM

2.08%

12.00%

12.66%

10Y

11.67%

ROCE

TTM

3.13%

16.11%

17.07%

10Y

15.98%

De Nora India Ltd

DE Nora India Ltd

DENORA

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Standalone Quarterly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

Projection

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Announcements

Documents

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Technicals

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Price Chart Comparison

Financial Statements

AI Powered Summary

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Standalone Quarterly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

Oscillators

Neutral

Overall

Bearish

Moving Averages

Bearish

Overall

Bearish

Projection

Forecasts

Shareholdings

Shareholding History

Market Transactions

DE Nora India Ltd

DENORA

AI Mode

Announcements

Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

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