IP Rings

BSE: IPRINGLTD · Auto Components & Equipments

52W Range₹93 ₹175

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Snapshot

Unlock IP Rings's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

IP Rings Ltd is an Indian manufacturer specialising in engine and transmission components. The company operates through a joint venture structure involving major automotive groups and technical collaboration with Nippon Piston Ring Co. Ltd of Japan.

Business Model

The company generates revenue by manufacturing and supplying precision automotive components to original equipment manufacturers. Its business model leverages technical expertise from its Japanese partner to maintain quality standards for engine and transmission parts.

Growth Outlook

Growth is primarily driven by the expansion of the Indian automotive sector and the increasing demand for high-precision engine components. The company continues to leverage its established technical collaborations to enhance its product portfolio.

Key Risks

  • Cyclicality of Automotive Industry. The company's performance is highly sensitive to fluctuations in automotive production volumes and consumer demand.
  • Raw Material Price Volatility. Fluctuations in the cost of steel and other raw materials can significantly impact operating margins.
  • Technological Obsolescence. The transition towards electric vehicles poses a long-term risk to the demand for traditional internal combustion engine components.
  • Dependence on Key Customers. Concentration of revenue among a few major automotive manufacturers creates vulnerability to changes in their procurement strategies.

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Key Metrics

REVENUE

₹0 Cr

TTM · consolidated

-100.0%YoY

NET PROFIT

₹2 Cr

TTM · consolidated

+138.8%YoY

EPS

₹1.35

TTM · consolidated

+138.7%YoY

RETURN ON EQUITY

1.2%

TTM · consolidated

+4.8 ppYoY

RETURN ON CAPITAL EMPLOYED

9.1%

TTM · standalone

+1.5 ppYoY

P/E

91.1x

Q4 FY26 · consolidated

91.1 vs 181.1x5Y avg

EV/EBITDA

3.5x

Q4 FY26 · consolidated

3.5 vs 6.7x5Y avg

EBITDA MARGIN

48.7%

TTM · consolidated

+40.0 ppYoY

NET PROFIT MARGIN

-6.8%

Q3 FY25 · consolidated

-5.6 ppYoY

DEBT TO EQUITY

0.7x

Q3 FY25 · consolidated

-0.05xYoY

Peers · Auto Components & Equipments

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
IP RingsIPRINGLTD
₹184 Cr107.415.00-100.0%48.7%1.2%9.1%-9.4%
Triton ValvesTRITONV
₹588 Cr20.3017.6418.6%7.0%8.5%20.8%-56.7%
Munjal ShowaMUNJALSHOW
₹524 Cr21.0911.5112.3%3.3%3.7%4.8%-3.6%
Autoline Industries LimitedAUTOIND
₹404 Cr10.127.999.6%20.2%24.1%+27.6%
Omax AutosOMAXAUTO
₹403 Cr9.964.8331.8%17.2%12.2%17.5%+25.5%
PPAP AutomotivePPAP
₹367 Cr7.909.7610.7%9.5%14.7%18.6%+19.2%

As of Q4 FY26

Financials