India Radiators Ltd

INRADIA

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Market Cap

₹ 1 Cr

P/E

—

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Performance

MARKET LEADER

Valuation

REASONABLE

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Neutral

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

India Radiators Limited, established in 1949, specializes in the sub-assembly of automotive components, operating mainly from Pondicherry.

The company has been financially distressed since the late 1990s, becoming 'Sick' under the Sick Companies Act in 2000.

In 2019, Mercantile Ventures Limited became the holding company and acquired significant equity in a 2024 open offer process.

As of March 2023, business operations in Puducherry were ceased, shifting focus to property rentals in Chennai.

Operational expenses are currently supported by new investor funding, highlighting a strategic pivot to property management.

Sector

Realty

Industry

Infra/ Real Estate Investment Trust

Market Cap

1 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

48.9

PEG Ratio

—

P/B Ratio

—

52W High

13.07

52W Low

9.78

Sales CAGR

—

11.90%

56.08%

10Y

—

Profit CAGR

-51.79%

—

10Y

—

ROE

TTM

110.10%

21.05%

-13.23%

10Y

—

ROCE

TTM

-8.46%

2.03%

15.71%

10Y

—

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ANANTAM	104.05	2,291 Cr	—	0.89	0.00	—	—	0.00
TVSINVIT	109.50	2,159 Cr	131.93	1.03	0.00	0.00	0.00	—
CAPINVIT	74.47	1,921 Cr	—	1.10	37.51	-1.72	1.91	-0.73
TREL	28.63	708 Cr	21.02	0.56	0.00	2.67	3.58	4.27
PSPLATINA	1010100.00	345 Cr	40.06	1.00	0.00	2.53	5.01	2.02
INRADIA	13.07	1 Cr	—	0.00	0.00	110.10	-8.46	-8.47

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	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Expenses	0.07	0.03	0.01	0.01	0.05	0.03	0.02	0.23	0.44	0.32
Operating Profit	-0.05	-0.01	0.01	0.01	-0.03	-0.01	0.00	-0.21	-0.42	-0.30
OPM %	-250.00	-50.00	50.00	50.00	-150.00	-50.00	0.00	-1,050.00	-2,100.00	-1,500.00
Other Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest	0.18	0.19	0.19	0.19	0.19	0.20	0.20	0.20	0.21	0.21
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	-0.23	-0.20	-0.18	-0.18	-0.22	-0.21	-0.20	-0.41	-0.64	-0.51
Tax %	-630.43	25.00	27.78	27.78	22.73	23.81	25.00	12.20	7.81	9.80
Net Profit	-1.68	-0.15	-0.13	-0.14	-0.18	-0.16	-0.15	-0.36	-0.58	-0.46
EPS in Rs	-18.71	-1.67	-1.48	-1.50	-1.96	-1.78	-1.69	-4.01	-5.49	—

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	0.01	0.01	0.05	0.06	0.06	0.06	0.08
Expenses	0.52	0.43	0.66	0.16	0.11	0.32	0.72
Operating Profit	-0.51	-0.42	-0.61	-0.09	-0.05	-0.25	-0.64
OPM %	-7,510.91	-5,364.10	-1,356.98	-146.20	-78.01	-399.37	-800.00
Other Income	1.96	0.02	9.27	1.32	0.00	0.00	NaN
Interest	0.91	1.48	1.54	0.72	0.75	0.80	0.81
Depreciation	0.03	0.01	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	0.50	-1.89	7.12	0.51	-0.79	-1.05	-1.46
Tax %	-289.28	-2.99	31.21	-34.12	29.76	19.04	14.38
Net Profit	1.95	-1.95	4.90	0.68	-0.56	-0.85	-1.25
EPS in Rs	—	—	54.40	7.57	-23.36	—	-12.97
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.90	0.90	0.90	0.90	0.90	0.90
Reserves	-8.09	-10	-5.14	-4.46	-0.42	-1.27
Borrowings	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	19	21	16	16	18	19
Total Liabilities	12	12	12	12	18	18
Fixed Assets	12	12	12	12	18	18
CWIP	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	0.04	0.03	0.06	0.13	0.21	0.26
Total Assets	12	12	12	12	18	18

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	5.08	-5.06	-0.01	-0.00	-0.96	0.03	-0.01
Cash from Investing Activity	-5.08	5.08	0.00	0.00	0.95	0.00	0.00
Cash from Financing Activity	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Cash Flow	0.00	0.02	-0.01	-0.00	-0.01	0.03	-0.01

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Jul 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	38.41%	38.41%	38.41%	38.41%	38.41%	38.41%	38.74%	38.74%	38.74%	38.74%	38.74%	38.74%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	5.13%	9.57%	9.57%	9.57%	9.57%	8.40%	8.40%	8.40%	8.40%	8.40%	8.27%	8.27%
Public	56.46%	52.01%	52.01%	52.01%	52.01%	53.19%	52.87%	52.87%	52.87%	52.87%	52.99%	52.99%
Total Shareholders	4,503	4,495	4,487	4,479	4,478	4,472	4,468	4,467	4,461	4,462	4,462	4,461

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jul 10, 2024	Riviera capital consulting an...	Insider - Promoter	Disposal	4.26	0.01 Cr	14,321	1.59
Jul 10, 2024	Chidambaram venkatachalam	Insider - Promoter	Disposal	4.26	0.01 Cr	21,857	2.43
Jul 10, 2024	Seetha chidambaram	Insider - Promoter	Disposal	4.26	0.13 Cr	3,09,524	34.39
Mar 28, 2023	Seetha chidambaram	Insider - Promoter	Revoke	4.04	0.13 Cr	3,09,524	34.39
Mar 28, 2023	Chidambaram venkatachalam	Insider - Promoter	Revoke	4.04	0.01 Cr	21,857	2.43

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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Overview

Detailed Summary

India Radiators Limited, established in 1949, specializes in the sub-assembly of automotive components, operating mainly from Pondicherry.

The company has been financially distressed since the late 1990s, becoming 'Sick' under the Sick Companies Act in 2000.

In 2019, Mercantile Ventures Limited became the holding company and acquired significant equity in a 2024 open offer process.

As of March 2023, business operations in Puducherry were ceased, shifting focus to property rentals in Chennai.

Operational expenses are currently supported by new investor funding, highlighting a strategic pivot to property management.

Sector

Realty

Industry

Infra/ Real Estate Investment Trust

Market Cap

1 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

48.9

PEG Ratio

—

P/B Ratio

—

52W High

13.07

52W Low

9.78

Sales CAGR

—

11.90%

56.08%

10Y

—

Profit CAGR

-51.79%

—

10Y

—

ROE

TTM

110.10%

21.05%

-13.23%

10Y

—

ROCE

TTM

-8.46%

2.03%

15.71%

10Y

—

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	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Expenses	0.07	0.03	0.01	0.01	0.05	0.03	0.02	0.23	0.44	0.32
Operating Profit	-0.05	-0.01	0.01	0.01	-0.03	-0.01	0.00	-0.21	-0.42	-0.30
OPM %	-250.00	-50.00	50.00	50.00	-150.00	-50.00	0.00	-1,050.00	-2,100.00	-1,500.00
Other Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest	0.18	0.19	0.19	0.19	0.19	0.20	0.20	0.20	0.21	0.21
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	-0.23	-0.20	-0.18	-0.18	-0.22	-0.21	-0.20	-0.41	-0.64	-0.51
Tax %	-630.43	25.00	27.78	27.78	22.73	23.81	25.00	12.20	7.81	9.80
Net Profit	-1.68	-0.15	-0.13	-0.14	-0.18	-0.16	-0.15	-0.36	-0.58	-0.46
EPS in Rs	-18.71	-1.67	-1.48	-1.50	-1.96	-1.78	-1.69	-4.01	-5.49	—

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	0.01	0.01	0.05	0.06	0.06	0.06	0.08
Expenses	0.52	0.43	0.66	0.16	0.11	0.32	0.72
Operating Profit	-0.51	-0.42	-0.61	-0.09	-0.05	-0.25	-0.64
OPM %	-7,510.91	-5,364.10	-1,356.98	-146.20	-78.01	-399.37	-800.00
Other Income	1.96	0.02	9.27	1.32	0.00	0.00	NaN
Interest	0.91	1.48	1.54	0.72	0.75	0.80	0.81
Depreciation	0.03	0.01	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	0.50	-1.89	7.12	0.51	-0.79	-1.05	-1.46
Tax %	-289.28	-2.99	31.21	-34.12	29.76	19.04	14.38
Net Profit	1.95	-1.95	4.90	0.68	-0.56	-0.85	-1.25
EPS in Rs	—	—	54.40	7.57	-23.36	—	-12.97
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.90	0.90	0.90	0.90	0.90	0.90
Reserves	-8.09	-10	-5.14	-4.46	-0.42	-1.27
Borrowings	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	19	21	16	16	18	19
Total Liabilities	12	12	12	12	18	18
Fixed Assets	12	12	12	12	18	18
CWIP	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	0.04	0.03	0.06	0.13	0.21	0.26
Total Assets	12	12	12	12	18	18

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	5.08	-5.06	-0.01	-0.00	-0.96	0.03	-0.01
Cash from Investing Activity	-5.08	5.08	0.00	0.00	0.95	0.00	0.00
Cash from Financing Activity	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Cash Flow	0.00	0.02	-0.01	-0.00	-0.01	0.03	-0.01

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ANANTAM	104.05	2,291 Cr	—	0.89	0.00	—	—	0.00
TVSINVIT	109.50	2,159 Cr	131.93	1.03	0.00	0.00	0.00	—
CAPINVIT	74.47	1,921 Cr	—	1.10	37.51	-1.72	1.91	-0.73
TREL	28.63	708 Cr	21.02	0.56	0.00	2.67	3.58	4.27
PSPLATINA	1010100.00	345 Cr	40.06	1.00	0.00	2.53	5.01	2.02
INRADIA	13.07	1 Cr	—	0.00	0.00	110.10	-8.46	-8.47