Integ. Industrie (531889)

FairStock Score: 68/100 — STEADY

Score breakdown: P/E: 3/3 · ROCE: 2/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

Strengths

• Profit grew 85% on sales growth of 45.80%, showing strong recent recovery momentum.
• PEG of 0.18 suggests the reported earnings growth is not fully priced if it is durable.
• Piotroski F-Score of 7/9 indicates improving fundamentals and financial health.
• ROCE of 30.47% reflects efficient use of operating capital in the current phase.

Concerns

• P/B of 34.85 with book value of ₹7.14 and ROE of only 2.96% means the price is far ahead of book-value returns.
• Earnings inconsistency: P/E of 11.82 implies about ₹490 crore annual profit, while latest quarter annualises to only ₹124 crore.
• As a holding company, the underlying asset quality is opaque; promoter holding is undisclosed and there is no dividend.
• 52-week range of ₹17.00-₹248.85 signals extreme speculative price movement and a high risk of reversion.

AI Analysis

Let me start with what I can understand. Integ. Industrie is a holding company, and my first rule is to stay inside the circle of competence. A holding company is only as good as the businesses it controls, and without a clear map of those assets, I am investing in a black box. The numbers here look like a recovery, not a stable compounder. The stock has moved from ₹17 to ₹248.85 in 52 weeks; that is a 1,364% rise. Profit growth of 85% and sales growth of 45.8% explain some of the enthusiasm, and a PEG of 0.18 makes it look cheap. But a turnaround's growth rarely follows a straight line. The Piotroski F-score of 7/9 does confirm that the fundamentals are improving, and ROCE of 30.47% suggests efficient use of operating capital. Still, the balance sheet tells a different story. Book value is only ₹7.14 per share, so I am being asked to pay 34.85 times book for a business that currently earns just a 2.96% return on equity. For a turnaround, the market is looking ahead, but I need a margin of safety. Worse, the earnings data do not add up. The stated P/E of 11.82 on a ₹5,794 crore market cap implies annual profit of roughly ₹490 crore, while the latest quarter's ₹31 crore would annualise to about ₹124 crore. That is not a small discrepancy. There is no dividend, promoter holding is not disclosed, and a holding company structure can hide true risks. This may be a genuine turnaround, but at ₹248.85 I am late and unprotected. I would rather pass and wait for either a much lower price or far clearer numbers.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer