This review of De Nora India Limited (DENORA) examines its financial performance, valuation, and shareholding trends using the available data.
De Nora India Revenue Trend
De Nora India Limited reported FY2025 revenue of ₹74.4 Cr, 5.8% below the ₹79.0 Cr recorded in FY2024.
Over a longer view, De Nora India Limited has delivered an 11-year revenue CAGR of 8.4%, pointing to moderate and sustainable growth.
With revenue of ₹74.4 Cr, De Nora India Limited is a smaller electrical equipment company by top line.
| Year | Revenue | YoY % |
|---|---|---|
| FY2025 | ₹74.4 Cr | -5.8% |
| FY2024 | ₹79.0 Cr | +2.0% |
| FY2023 | ₹77.4 Cr | +3.1% |
| FY2022 | ₹75.1 Cr | +48.6% |
| FY2021 | ₹50.5 Cr | — |
View De Nora India Limited's full 10-year revenue trend with CAGR analysis →
De Nora India Profitability
De Nora India Limited's net income fell 91.1%, from ₹19.0 Cr to ₹1.69 Cr in FY2025.
Net margin narrowed from 24.1% to 2.3% in FY2025, indicating that costs rose faster than revenue.
Diluted EPS was ₹3.19 in FY2025, compared with ₹35.80 in FY2024.
Is De Nora India Undervalued
The P/E Ratio model indicates a fair value of ₹134 for De Nora India Limited.
De Nora India Limited shares currently trade at ₹883.20.
Craytheon also estimates intrinsic value through the EPS Growth model, with the assumptions and full analysis available in the detailed report.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹134 | 84.9% downside to fair value |
| EPS Growth | Upgrade | Upgrade |
See all valuation models for De Nora India Limited with detailed assumptions →
De Nora India Shareholding Pattern
Promoter ownership has held at 53.7% for the past 4 quarters.
FII ownership was 0.8% in June 2026, versus 0.0% in the year-ago period.
DIIs held 0.2% of the company in June 2026, unchanged from a year earlier.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Jun 2026 | 53.7% | 0.8% | 0.2% | 45.3% |
| Mar 2026 | 53.7% | 0.7% | 0.2% | 45.4% |
| Dec 2025 | 53.7% | 0.0% | 0.2% | 46.1% |
| Sep 2025 | 53.7% | 0.0% | 0.2% | 46.1% |
Track quarterly shareholding changes for De Nora India Limited →
De Nora India Balance Sheet
Proportional view as of 13 Jul 2026. Hover blocks for details.
Assets
Liabilities & Equity
In FY2025, the total asset base came in at ₹1.42B, up 12.3% YoY from ₹1.27B.
Cash & ST Investments accounts for 44.1% of the total, ahead of Inventories (22.0%) and Other Assets (12.1%).
Capital structure: 84.4% equity, 0.0% debt, 15.6% operating liabilities. Notable shift: Other Liabilities is up 473.4% YoY (₹26.33M → ₹151.00M).
Balance sheet composition — FY 2025
| Category | Value |
|---|---|
| Cash & ST Investments | 627.89M |
| Receivables | 134.17M |
| Inventories | 313.27M |
| Property, Plant & Equipment | 171.01M |
| Investments | 2.29M |
| Intangibles & Goodwill | 3.00M |
| Other Assets | 171.50M |
| Category | Value |
|---|---|
| Equity | 1.20B |
| Trade Payables | 70.62M |
| Other Liabilities | 151.00M |
De Nora India at a Glance
The latest available financials provide the following view of De Nora India Limited (DENORA).
FY2025 revenue was ₹74.4 Cr, down 5.8% year-over-year.
Revenue has compounded at 8.4% annually over 11 years.
The company remained profitable, reporting a net margin of 2.3% and net income of ₹1.69 Cr.
The P/E Ratio model implies 84.9% downside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
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There's more to the story. Craytheon's full profile for De Nora India Limited includes three valuation models, decade-long financials, and insider activity.