Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Oct - Newspaper publication regarding special window for transfer and dematerialisation of physical securities
Source: Bse
De Nora India Limited (DENORA)
Small CapIndustrials stocks · Small cap · NSE
De Nora India Limited operates in Electrodes, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result30 Jul, 11:49 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
41NeutralSMA20 -9.4% / mo · MACD +
Stock trend: 35
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
DENORAD candles · FIT view-11.8%Latest close ₹710.40 on 2026-10-19
Bar
+0.4%
RSI
33
MACD hist
0.22
52W pos
38%
2026-10-19O ₹707.65H ₹715.85L ₹700.00C ₹710.40Vol 3,194 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
DENORANifty India ManufacturingNifty 500
- DENORA
- -19.4%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -13.8 pp
Chart stats
19 Oct 2026- From 52W high
- -26.0%
- 52W range position
- 38%
- ATR (14)
- 4.0%
- Volume vs 20D
- 0.53x
- Avg traded value
- ₹0.4 Cr
- 20D price channel
- ₹690 - ₹821
₹960.4
₹560.3 - ₹960.4
₹28.8
Latest completed session
20-session average
25.3% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED24
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average50
Revenue -16.0% · PAT +96.6% YoY
Technical
Neutral41
Price trend and sector-relative-strength timing.
Valuation
Legacy model-843.3%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence70
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 50/100Rev -16% YoY · PAT +97% YoY · margin expansion · +61% QoQ · operating leverage
Filed 30 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹35.3 Cr | -16.0% | +60.5% |
| EBITDA | ₹5.7 Cr | +133.2% | +350.7% |
| Operating margin | 16.1% | +1032 bps | +2646 bps |
| PAT | ₹6.4 Cr | +96.6% | NDF |
| PAT margin | 18.1% | +1038 bps | +2103 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 31.60
- P/B
- 3.00
- EV/EBITDA
- 32.08
- Market Cap
- 385.00Cr
Profitability
- ROE
- 2.25%
- ROCE
- 5.83%
- ROA
- 7.50%
- Dividend Y
- 0.55%
Growth (CAGR)
- Revenue 5Y
- 19.00%
- EPS 5Y
- -13.00%
- Revenue 3Y
- 18.00%
- EPS 3Y
- -48.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- —
- Altman Z
- 8.30
- Book Value
- 244.00
Cash Flow
- FCF Yield
- 2.34%
- FCF Positive Y
- 8/5
- OCF
- 12.00 Cr
- EPS TTM
- 22.96
Shareholding
- Promoter Hold
- 53.68%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 43%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 122+76.8% vs prev
Net Profit
₹ CrLatest: 9.0+350.0% vs prev
Return on Equity
%Latest: 7.0+318.0% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 33. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~10.4% over last month) — short-term momentum negative.
- RSI(14) at 33 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 26% off 52W high · 27% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
38
RS percentile
Stage 1 Base / Transition
1M return
-9.2%
3M return
-19.4%
6M return
-15.7%
1Y return
-13.8%
RS 1D
0
RS 20D
-10
Sector rank
#2
Industry rank
#19
Stage evidence
- Price is 10.6% below the 30-week proxy without full trend alignment.
- The 30-week proxy changed +0.8% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 87.33+2.72%
RS vs Nifty 50087
Valuation & peers
U-Score 24 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 24 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth6/25
Quality0/20
Balance Sheet8/15
Cash Flow8/10
Piotroski
7/9 (+5)
Penalties
-3
Raw sum
24
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
24/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 7/9.
- Cash flow contributes 8/10 to the score.
- Balance sheet contributes 8/15 to the score.
Main drags
- Penalty bucket subtracts 3 points.
- Fair-value margin of safety is negative at -843.3%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
31.6
PB
3.0
EV/EBITDA
32.1
ROE
2.3%
ROCE
5.8%
FCF Yield
2.3%
Debt/Equity
0.0
MoS
-843.3%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
24
Previous: 24
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-843.3%
Previous: -843.3%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
24
24
24
24
24
24
24
24
24
24
24
24
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹355.04
-100.1% MoS
Growth-justified P/E
3.3
Growth-justified Value
₹75.31
-843.3% MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
BIRLAPREC
Small
Birla Precision Technologies Limited
Industrial Machinery
match 61
34
28.7
6.5%
+34%
WATCHLIST
BATLIBOI
Small
Batliboi Limited
Industrial Machinery
match 60
39
28.5
4.0%
-18%
WATCHLIST
MAHEPC
Small
Mahindra EPC Irrigation Limited
Industrial Machinery
match 59
19
23.2
7.9%
-441%
OVERVALUED
NITIRAJ
Small
Nitiraj Engineers Limited
Industrial Machinery
match 57
18
86.3
0.5%
-6292%
OVERVALUED
TRF
Small
TRF Limited
Industrial Machinery
match 57
47
5.1
—
+88%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
De Nora India Limited operates in Electrodes, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
70Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 63rd percentile of the scored universe and 60th percentile within Industrials. Main check: financial discipline is weak at 40/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
4 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
63rd percentile
overall median 67 · Industrials: 60th pctile, median 68 · Small: 65th pctile, median 66
Evidence depth
Financial-only
4 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
88
strong · leverage and solvency
Discipline
40
weak · capital discipline
Results
62
acceptable · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.1%.
- ▸8 years of positive FCF.
- ▸Debt/equity is 0.00.
Trust risks
- ▸ROE is low at 7.3%.
- ▸Revenue CAGR is 18% but EPS CAGR is -24%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
- ▸OPM spread across recent quarters is 83.9%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching De Nora India Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportSep 2026
Sep 2026 · Reg. 34 (1) Annual Report. 26 Aug - 37th AGM on September 23, 2026; proposes ₹4 dividend, director reappointment, and related-party approvals.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 27 Aug - Newspaper publication regarding dispatch of Notice of AGM and E-voting information
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 18 Aug - Newspaper advertisement relating to 37th Annual General Meeting of the Company
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Aug - Newspaper publication of special window for transfer and dematerialisation of physical securities
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 31 Jul - Newspaper publication of extract of Unaudited Financial Results for the quarter ended June 30, 2026
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Jun - Copy of Newspaper Publication regarding Special Window for Transfer and Dematerialisation of Physical Securities.
Source: Bse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Bse
AnnouncementMar 2026
Mar 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 5 May - Copy of Newspaper Publication of Extract of Audited Financial Results for the year ended March 31, 2026.
Source: Bse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.