Stock Performance and Market Context
On 1 Feb 2026, Indian Toners & Developers Ltd’s stock price fell sharply, hitting an intraday low of Rs.229.3, representing a 5.37% drop from the previous close. The stock underperformed its sector by 2.01% on the day and closed with a day change of -4.93%. This new low contrasts with the stock’s 52-week high of Rs.303.4, highlighting a substantial downward trend over the past year.
The broader market environment was also challenging. The Sensex, after opening 119.19 points higher, reversed sharply to close down by 1,359.09 points at 81,029.88, a decline of 1.51%. The Sensex is currently trading below its 50-day moving average, although the 50-day moving average remains above the 200-day moving average, indicating some underlying market resilience despite the recent pullback.
Technical Indicators and Moving Averages
Indian Toners & Developers Ltd is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning suggests sustained downward momentum and a lack of short-term buying interest. The stock’s current price level is also supported by a relatively high dividend yield of 4.33%, which may provide some income cushion for shareholders despite the price decline.
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Financial Performance Highlights
The company’s recent financial results have reflected some pressures. The quarter ending September 2025 showed flat results, with the PBDIT (Profit Before Depreciation, Interest and Taxes) at Rs.7.28 crores, marking the lowest quarterly figure in recent periods. Operating profit to net sales ratio also declined to 18.74%, the lowest recorded in the recent quarters, indicating margin compression.
Return on Capital Employed (ROCE) for the half-year stood at 15.73%, the lowest level observed, signalling reduced efficiency in capital utilisation. Despite these figures, the company maintains a low average debt-to-equity ratio of zero, reflecting a conservative capital structure with minimal leverage.
Long-Term Trends and Valuation Metrics
Over the past year, Indian Toners & Developers Ltd has delivered a total return of -14.50%, underperforming the Sensex, which gained 5.45% over the same period. The stock has also lagged behind the BSE500 index in the last three years, one year, and three months, indicating a consistent underperformance trend.
However, the company has demonstrated healthy long-term growth in operating profit, with an annualised growth rate of 38.87%. Return on Equity (ROE) stands at 12.2%, and the stock trades at a Price to Book Value of 1.2, suggesting a valuation that is fair and attractive relative to its peers’ historical averages.
Profit growth over the past year was 11.7%, while the Price/Earnings to Growth (PEG) ratio is 0.6, indicating that the stock’s valuation is reasonable when considering its earnings growth rate. The high dividend yield of 4.3% at the current price level adds an income component to the stock’s profile.
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Rating and Market Perception
MarketsMOJO has downgraded Indian Toners & Developers Ltd from a Hold to a Sell rating as of 2 Jan 2026, reflecting concerns over the company’s recent financial performance and stock price weakness. The Mojo Score currently stands at 47.0, with a Mojo Grade of Sell, indicating a cautious stance on the stock’s near-term prospects.
The company’s market capitalisation grade is 4, suggesting a mid-sized market cap within its sector. Promoters remain the majority shareholders, maintaining significant control over the company’s strategic direction.
Sector and Industry Considerations
Operating within the Specialty Chemicals industry, Indian Toners & Developers Ltd faces sector-specific dynamics that influence its performance. The stock’s underperformance relative to the sector and broader market indices highlights the challenges faced in maintaining growth and profitability amid competitive pressures and market fluctuations.
Despite the recent price decline, the company’s fundamentals such as low leverage, consistent profit growth, and attractive dividend yield provide a nuanced picture of its financial health.
Summary of Key Metrics
To summarise, Indian Toners & Developers Ltd’s stock has reached a 52-week low of Rs.229.3, reflecting a decline of over 24% from its 52-week high of Rs.303.4. The stock’s recent financial results show subdued profitability and margin pressures, with the lowest PBDIT and operating profit ratios recorded in recent quarters. The company’s ROCE and ROE metrics indicate moderate returns on capital and equity, while valuation measures suggest the stock is trading at a fair level relative to peers.
Market sentiment, as reflected in the downgrade to a Sell rating and the Mojo Score, points to caution. The stock’s technical position below all major moving averages further underscores the current weakness in price momentum.
Overall, Indian Toners & Developers Ltd’s recent price action and financial data illustrate a period of subdued performance within a challenging market environment, with valuation and dividend yield factors providing some balance to the stock’s profile.
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