De Nora India Ltd Stock Price Today (NSE: DENORA)
Fundamental Score
De Nora India Ltd Share Price — Live NSE/BSE Price, Fundamentals & Analysis
De Nora India Ltd share price today is ₹824.05, up +1.44% on NSE/BSE as of 17 June 2026. De Nora India Ltd (DENORA) is a Small-cap company in the Electrodes & Refractories sector with a market capitalisation of ₹364.92 (Cr). The 52-week high for DENORA share price is ₹994.50 and the 52-week low is ₹560.25. At a P/E ratio of 137.71x, DENORA is currently trading above its industry average P/E of 39.96x. The company has a Return on Equity (ROE) of 1.84% and a debt-to-equity ratio of 0.00.
De Nora India Ltd Share Price Chart — NSE/BSE Historical Performance
De Nora India Ltd share price chart: -10.11% return over the past month. 52-week high ₹994.50, 52-week low ₹560.25.
De Nora India Ltd — Last 10 Trading Days
| Date | Open | High | Low | Close | Volume |
|---|---|---|---|---|---|
| ₹702.10 | ₹721.45 | ₹694.55 | ₹709.05 | 5.50K (Cr) | |
| ₹738.00 | ₹738.00 | ₹700.00 | ₹703.10 | 5.32K (Cr) | |
| ₹731.75 | ₹739.85 | ₹707.95 | ₹710.35 | 5.69K (Cr) | |
| ₹734.00 | ₹741.95 | ₹720.00 | ₹731.75 | 2.61K (Cr) | |
| ₹709.00 | ₹737.75 | ₹700.00 | ₹722.15 | 3.02K (Cr) | |
| ₹717.70 | ₹738.60 | ₹711.00 | ₹714.10 | 3.03K (Cr) | |
| ₹724.00 | ₹733.10 | ₹712.05 | ₹721.30 | 4.90K (Cr) | |
| ₹722.15 | ₹724.25 | ₹705.00 | ₹709.30 | 3.91K (Cr) | |
| ₹708.00 | ₹721.85 | ₹703.15 | ₹717.95 | 2.80K (Cr) | |
| ₹712.85 | ₹719.80 | ₹703.55 | ₹715.30 | 2.19K (Cr) |
De Nora India Ltd — Last 12 Months Price History
| Month | Open | High | Low | Close | Change |
|---|---|---|---|---|---|
| ₹738.00 | ₹738.00 | ₹694.55 | ₹709.05 | -3.92% | |
| ₹842.00 | ₹868.75 | ₹685.65 | ₹710.35 | -15.64% | |
| ₹690.00 | ₹875.20 | ₹690.00 | ₹855.65 | +24.01% | |
| ₹701.10 | ₹765.00 | ₹651.00 | ₹681.50 | -2.80% | |
| ₹590.00 | ₹729.00 | ₹570.55 | ₹703.55 | +19.25% | |
| ₹682.00 | ₹709.60 | ₹560.25 | ₹615.90 | -9.69% | |
| ₹738.00 | ₹740.95 | ₹667.00 | ₹686.10 | -7.03% | |
| ₹808.85 | ₹820.00 | ₹675.00 | ₹706.65 | -12.64% | |
| ₹833.25 | ₹864.45 | ₹742.00 | ₹808.85 | -2.93% | |
| ₹840.35 | ₹914.45 | ₹811.60 | ₹828.80 | -1.37% | |
| ₹891.65 | ₹899.55 | ₹821.00 | ₹835.95 | -6.25% | |
| ₹886.70 | ₹994.50 | ₹870.55 | ₹891.65 | +0.56% |
AI Research Briefing
Powered by Gemini · 2026-04-10
Expensive micro-cap electrodes & refractories play trading at nosebleed valuations with high parent dependence.
WHAT'S HAPPENING NOW (last 2-4 weeks)
De Nora India's board approved a deal with its parent, Industrie De Nora S.p.A., for FY2026-27, needing shareholder approval. The company seeks shareholder approval for material related party transactions with Industrie De Nora S.p.A., Italy, for FY 2026-27, involving royalty payments and business support services, capped at Rs 2,080 Lakhs.
CORE STORY (THE REAL GAME)
De Nora India is essentially a subsidiary play on its Italian parent, Industrie De Nora. The market prices it as a specialty chemicals play, specifically exposed to the chlor-alkali and water treatment industries, but its reliance on the parent company is a key factor.
- ₹20.8 Cr related party transaction needs shareholder approval
- Refractory market projected to grow at 9.9% CAGR
- Postal ballot notice for related party transactions
- Significant order wins in the electrodes business
- Increase in promoter holding
- Faster-than-expected growth in the Indian steel industry
- Micro/SME cap implies liquidity risk
- High P/E of 137.71x vs industry average of 39.96x
- Dependence on parent company for technology and business
FII holding is negligible at 0.01% (Δ -0.02%). DII holding is also low at 0.22% (Δ 0.0%).
The India refractories market is expected to grow at a CAGR of 9.9% from 2026 to 2033.
Profit not convincingly converting to cash. Free Cash Flow 5Y: ₹44.86 Cr
Near-term headwinds due to valuation and parent company dependence. Long-term growth dependent on Indian steel industry expansion and execution.
Primary Thesis Risk
Overvaluation and dependence on parent company make it vulnerable to derating.
For educational purposes only. Not investment advice. Consult a SEBI-registered advisor before investing.
Returns & Performance
Return on Equity (ROE)
Profit generated per ₹1 of shareholder equity
Return on Capital (ROCE)
Returns generated on total capital deployed
Oper. Profit Margin (5Y Avg)
Average operating profit margin over 5 years
Dividend Yield
Annual dividend as % of current share price
De Nora India Ltd Valuation Check
Price to Earnings (P/E)
Share price ÷ earnings per share. Lower = cheaper
Industry Avg P/E
Average P/E of all peers in this sector
Market Capitalisation
Total market value of all outstanding shares
Growth Engine
Profit Growth (Quarterly YoY)
Net profit growth vs same quarter last year
Revenue Growth (Quarterly YoY)
Revenue growth vs same quarter last year
Revenue Growth (5-Year CAGR)
Compounded annual revenue growth over 5 years
EPS Growth (5-Year CAGR)
Earnings per share growth over 5 years
Net Profit Growth (5-Year CAGR)
Compounded annual net profit growth over 5 years
Balance Sheet Health
Debt to Equity Ratio
Total debt ÷ equity. Below 0.5 = financially healthy
Interest Coverage Ratio
EBIT ÷ interest expense. Above 2.5 = can pay interest comfortably
Free Cash Flow (5-Year Total)
Cash left after capex over 5 years. Positive = self-funded growth
Labels (e.g., "Excellent", "Good") are peer-based vs industry/sector averages — data-only, not advice
De Nora India Ltd Fundamental Analysis & Valuation Benchmarking
Educational evaluation of DENORA across key market metrics for learning purposes.
Positive Indicators
6 factors identified
Strong Operating Margins (22.39%)
Observation: Healthy 5-year operating margins indicate pricing power and cost control.
Analysis: OPM >15% suggests operational efficiency and competitive advantages.
Strong Revenue Growth (20.46%)
Observation: Healthy sales growth indicates market demand and execution capability.
Analysis: Revenue growth >15% suggests strong market position and growth potential.
Debt-Free Balance Sheet (D/E: 0.00)
Observation: Low leverage provides financial flexibility and reduced risk.
Analysis: Conservative debt structure offers resilience during economic downturns.
Strong Cash Generation (₹44.86 Cr over 5Y)
Observation: Healthy free cash flow generation supports growth and returns.
Analysis: Strong FCF provides flexibility for dividends, debt reduction, and growth investments.
Balanced Promoter Holding (53.68%)
Observation: Optimal balance between promoter control and public float.
Analysis: Promoter holding in 50-75% range provides management alignment.
Zero Share Pledging Risk
Observation: No promoter shares pledged as collateral.
Analysis: Absence of share pledging eliminates potential forced-selling pressure.
Risk Factors
7 factors identified
Below-Average Return on Equity (1.84%)
Observation: Returns on equity are below industry benchmarks.
Analysis: ROE <10% may indicate inefficient capital utilization. Consider monitoring for operational improvements and management effectiveness.
Suboptimal ROCE (0.88%)
Observation: Returns on capital employed are below expectations.
Analysis: ROCE <10% suggests potential inefficiencies in capital allocation.
Premium Valuation Risk (P/E: 137.71x)
Observation: High valuation multiples may limit upside potential.
Analysis: Elevated P/E ratios require strong growth execution to justify current valuations.
Weak Earnings Growth (-22.86% CAGR)
Observation: Below-average 5-year EPS growth performance.
Analysis: Low EPS growth may not keep pace with inflation.
Stagnant Profit Growth (-22.86% CAGR)
Observation: Limited 5-year profit growth trajectory.
Analysis: Low profit growth may indicate scalability challenges or market maturity.
Limited Institutional Interest (FII+DII: 0.23%)
Observation: Low institutional participation may affect liquidity.
Analysis: Limited institutional interest may indicate size constraints or visibility issues.
No Dividend Distribution
Observation: Company does not currently pay dividends to shareholders.
Analysis: Zero dividend yield may indicate growth reinvestment focus or cash flow constraints.
De Nora India Ltd vs Electrodes & Refractories Peers
Peer Comparison - Electrodes & Refractories
Compare De Nora India Ltd with 10 other companies in the same sector
| Company Info | Fundamental | Valuation | Profitability | Financial Health | Growth | Dividend | ||||
|---|---|---|---|---|---|---|---|---|---|---|
Company Company name | Score Bull Run comprehensive fundamental score based on 20+ metrics | Price Current trading price of the stock | Market Cap Total value of all shares in the market | P/E Price per share divided by earnings per share | ROE Net income divided by shareholder equity | ROCE Earnings before interest and tax divided by capital employed | Debt/Eq Total debt divided by total equity | Profit 5Y Average annual profit growth over 5 years | Sales 5Y Average annual sales growth over 5 years | Dividend Annual dividend per share divided by price per share |
De Nora India LtdDe Nora India L...Selected✓ DENORA • 590031 | 36.8/100 | ₹824.05₹824 | ₹364.92₹364.92 | 137.71Average 137.7 Average | 1.84%Poor 1.84% Poor | 0.88%Poor 0.88% Poor | 0.00Excellent 0.0 Excellent | -22.86%Poor -22.86% Poor | 7.29%Good 7.29% Good | 0.00% |
Graphite India LtdGraphite India ... GRAPHITE • 509488 | 49.7/100 | ₹748.00₹748 | ₹10744.66₹10744.66 | 44.58Average 44.6 Average | 8.00%Poor 8.00% Poor | 10.11%Average 10.11% Average | 0.05Excellent 0.1 Excellent | 59.18%Excellent 59.18% Excellent | -3.72%Poor -3.72% Poor | 2.00% |
55.6/100 | ₹591.50₹592 | ₹10076.31₹10076.31 | 39.07Average 39.1 Average | 2.59%Poor 2.59% Poor | 3.96%Poor 3.96% Poor | 0.14Excellent 0.1 Excellent | 92.28%Excellent 92.28% Excellent | 0.12%Average 0.12% Average | 0.34% | |
Vesuvius India LtdVesuvius India ... VESUVIUS • 520113 | 63.7/100 | ₹478.75₹479 | ₹9742.06₹9742.06 | 39.96Average 40.0 Average | 19.30%Good 19.30% Good | 25.47%Excellent 25.47% Excellent | 0.01Excellent 0.0 Excellent | 24.24%Excellent 24.24% Excellent | 16.07%Excellent 16.07% Excellent | 0.30% |
RHI Magnesita India LtdRHI Magnesita I... RHIM • 534076 | 43.1/100 | ₹384.00₹384 | ₹9589.93₹9589.93 | 60.95Average 61.0 Average | 5.19%Poor 5.19% Poor | 7.06%Poor 7.06% Poor | 0.10Excellent 0.1 Excellent | 8.44%Good 8.44% Good | 21.50%Excellent 21.50% Excellent | 0.54% |
54/100 | ₹917.00₹917 | ₹4676.50₹4676.50 | 102.87Average 102.9 Average | 20.51%Excellent 20.51% Excellent | 25.80%Excellent 25.80% Excellent | 0.03Excellent 0.0 Excellent | — — | — — | 0.10% | |
Ifgl Refractories LtdIfgl Refractori... IFGLEXPOR • 540774 | 35.4/100 | ₹161.08₹161 | ₹1592.76₹1592.76 | 53.54Average 53.5 Average | 3.94%Poor 3.94% Poor | 5.71%Poor 5.71% Poor | 0.19Excellent 0.2 Excellent | 7.07%Good 7.07% Good | 12.50%Good 12.50% Good | 1.61% |
MONOLITHSMMONOLITHSM... MONOLITH • | 67.7/100 | ₹567.40₹567 | ₹1187.33₹1187.33 | 67.54Average 67.5 Average | 53.30%Excellent 53.30% Excellent | 61.16%Excellent 61.16% Excellent | 0.00Excellent 0.0 Excellent | 113.99%Excellent 113.99% Excellent | 81.12%Excellent 81.12% Excellent | 0.00% |
Morgan Ventures LimitedMorgan Ventures... MORGAN • 523160 | 54.4/100 | ₹49.14₹49 | ₹859.94₹859.94 | 34.02Average 34.0 Average | 21.35%Excellent 21.35% Excellent | 30.39%Excellent 30.39% Excellent | 0.02Excellent 0.0 Excellent | 16.21%Excellent 16.21% Excellent | 6.26%Good 6.26% Good | 3.19% |
Orient Ceratech LtdOrient Ceratech... ORIENTCER • 504879 | 37.7/100 | ₹40.37₹40 | ₹522.07₹522.07 | 30.78Average 30.8 Average | 3.54%Poor 3.54% Poor | 6.17%Poor 6.17% Poor | 0.16Excellent 0.2 Excellent | — — | — — | 0.58% |
Panasonic Carbon India Co LtdPanasonic Carbo... PANCARBON • 508941 | 56.8/100 | ₹476.75₹477 | ₹238.58₹238.58 | 10.80Average 10.8 Average | 12.66%Average 12.66% Average | 17.00%Good 17.00% Good | 0.00Excellent 0.0 Excellent | 4.20%Average 4.20% Average | 3.71%Average 3.71% Average | 2.41% |
Top Electrodes & Refractories Stocks
View all →By Bull Run Score
By Return on Equity
By Market Cap
- Graphite India Ltd share price10744.66 Cr
- Hindustan Electro Graphite Limited share price10076.31 Cr
- Vesuvius India Ltd share price9742.06 Cr
- RHI Magnesita India Ltd share price9589.93 Cr
- Raghav Productivity Enhancer Limited share price4676.50 Cr
De Nora India Ltd PE Ratio History
Historical price-to-earnings ratio for DENORA — last 5 years
| Year | EPS (₹) | Price (₹) | P/E Ratio |
|---|---|---|---|
| FY 2025 | ₹3.19 | ₹686.10 | 215.1x |
| FY 2024 | ₹35.80 | ₹1165.10 | 32.5x |
| FY 2023 | ₹38.19 | ₹1534.60 | 40.2x |
| FY 2022 | ₹29.10 | ₹649.95 | 22.3x |
P/E = year-end price ÷ diluted EPS from annual filings. Source: NSE/BSE via Bull Run.
De Nora India Ltd Dividend History
Annual cash dividends paid by DENORA — dividend yield N/A
| Financial Year | Dividends Paid (₹ Cr) |
|---|---|
| FY 2025 | ₹1.06 Cr |
| FY 2024 | ₹1.06 Cr |
| FY 2023 | ₹0.53 Cr |
| FY 2022 | ₹0.53 Cr |
Cash dividends from annual cash flow statements. Past dividends do not guarantee future payments. Not investment advice.
De Nora India Ltd Quarterly Performance
Latest quarterly metrics for DENORA — revenue growth and profit growth vs same quarter last year
Revenue Growth (YoY)
20.46%
Latest quarter vs same quarter previous year
Net Profit Growth (YoY)
17.99%
Latest quarter net profit vs same quarter previous year
5-Year Revenue CAGR
7.29%
Compounded annual revenue growth over 5 years
5-Year Profit CAGR
-22.86%
Compounded annual net profit growth over 5 years
De Nora India Ltd Technical Indicators
SMA 50, SMA 200, RSI and volume signals for DENORA — calculated from daily price history
Momentum is balanced — neither overbought nor oversold.
Technical indicators are for educational purposes only. Not investment advice.
De Nora India Ltd Financial Statements
Annual income statement, balance sheet and cash flow for De Nora India Ltd (DENORA) — sourced from NSE/BSE filings.
Loading Financial Statements...
Fetching financial data for De Nora India Ltd
About DENORA (De Nora India Ltd)
De Nora India Ltd is a prominent force in the Indian industrial landscape, specializing in the creation and distribution of advanced electrode technologies and refractory solutions.... It stands as a crucial supplier for numerous sectors, providing innovative electrochemical solutions that underpin vital industrial processes. The company’s core competence lies in the development, fabrication, and upkeep of specialized electrodes designed for demanding environments. These electrodes are engineered to optimize performance, enhance efficiency, and ensure longevity in various applications, ranging from chlor-alkali production to electrochemical synthesis. Beyond electrodes, De Nora India also provides a range of refractory materials known for their heat resistance and corrosion protection, guaranteeing structural integrity and operational reliability for high-temperature industrial equipment. The company's extensive product portfolio extends to include cutting-edge electrochemical technologies geared towards water treatment, industrial electrochemistry, and surface finishing. They provide a spectrum of electrode designs for metal electrowinning, plating, and other electrochemical processes, serving a varied client base from metallurgical companies to manufacturers of electronic components. Moreover, De Nora India is deeply involved in the manufacture and refurbishment of electrodes, particularly for the chlor-alkali industry, assuring that these key components function at their best and adhere to environmental rules. Their offerings include disinfection systems, membrane technologies, and tailored electrochemical solutions to meet clients' specialized requirements. De Nora India's commitment goes beyond mere product supply. It focuses on providing comprehensive services, including expert consultations, technical support, and ongoing maintenance, which guarantees their clients can maximize the advantages of their technologies. Their focus on research and development keeps them at the leading edge of electrode technologies, allowing them to deliver creative solutions that tackle the changing demands of modern industry. This dedication to innovation, together with a strong focus on quality and customer satisfaction, has cemented De Nora India's place as a leading player in the electrodes and refractories market, driving development and productivity in important sectors of the Indian economy.
Company Details
Key Leadership
Corporate Events
DENORA Share Price: Frequently Asked Questions
What is the current share price of De Nora India Ltd?
De Nora India Ltd (DENORA) trades at ₹824.05 on NSE and BSE. Market cap ₹364.92 (Cr). Educational data only.
What is the P/E ratio of De Nora India Ltd?
De Nora India Ltd has a P/E of 137.71x vs industry average 39.96x.
What is the Bull Run score for De Nora India Ltd?
De Nora India Ltd has a Bull Run score of 36.8/100 based on 25+ financial parameters.
Does De Nora India Ltd pay dividends?
De Nora India Ltd has a dividend yield of 0.00%. Past dividends don't guarantee future payments.
What is the ROE of De Nora India Ltd?
De Nora India Ltd has ROE of 1.84%. Higher ROE indicates better use of shareholder equity.
What is the debt-to-equity ratio of De Nora India Ltd?
De Nora India Ltd has debt-to-equity of 0.00.
Is De Nora India Ltd a good investment?
Bull Run gives De Nora India Ltd a score of 36.8/100. This is not investment advice — consult a SEBI-registered advisor.