Indo-NationalNSE:NIPPOBATRY +0.75%69 Gross Margin % is 36.96% as of Mar. 2026, which is 5% below its 10-year median of 38.88. GuruFocus rates NSE:NIPPOBATRY with a GF Score™ of 69/100 and a GF Value™ of ₹402.56 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 2,992 Industrial Products companies, Indo-National ranks better than 76.7% on this metric.
Indo-National Ltd gross margin has been in long-term decline. The average rate of decline per year is -1.3%.
The historical rank and industry rank for Indo-National's Gross Margin % or its related term are showing as below:
NSE:NIPPOBATRY'
s Gross Margin % Range Over the Past 10 Years
Min: 35.48 Med: 38.88 Max: 42.88
Current: 38.71
During the past 13 years, the highestGross Margin % of Indo-National was 42.88%. The lowest was 35.48%. And the median was 38.88%.
NSE:NIPPOBATRY's Gross Margin % is ranked better than 76.7% of 2992
companies
in the Industrial Products industry
Industry Median: 26.82
vs NSE:NIPPOBATRY: 38.71
Indo-National had a gross margin of 36.96% for the quarter that ended in Mar. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Indo-National was -1.30% per year.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Indo-National had a gross margin of 36.96% for the quarter that ended in Mar. 2026 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Indo-National Gross Margin % Related Terms
Indo-National Gross Margin % Historical Data
* Premium members only.
The historical data trend for Indo-National's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:NIPPOBATRY vs VRT, BE: Gross Margin % Comparison
For the Electrical Equipment & Parts subindustry, Indo-National's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Indo-National Gross Margin % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Indo-National's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Indo-National's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Indo-National (NSE:NIPPOBATRY) has a Gross Margin % of 36.96% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Indo-National and its competitors. This is near median its historical median of 38.88. Over the past decade, Indo-National's Gross Margin % has ranged from 35.48 to 42.88. According to the industry distribution chart, Indo-National ranks #697 out of 2992 companies in the Industrial Products industry, placing it in the top 23.3%.
Is Indo-National's Gross Margin % too high?
Indo-National's current Gross Margin % of 36.96% is near median its 10-year median of 38.88. Over the past 10 years, this metric has ranged from a low of 35.48 to a high of 42.88. The Industrial Products industry median Gross Margin % is 26.82. Indo-National's value of 36.96% is 37.8% above this industry median. Based on the distribution chart, Indo-National ranks #697 out of 2992 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Indo-National has a GF Score™ of 69/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Indo-National's Gross Margin % compare to VRT and BE?
According to the Industrial Products industry distribution chart, Indo-National ranks #697 out of 2992 companies for Gross Margin %. This places Indo-National in the top 23% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 26.82. Indo-National's value of 36.96% is 37.8% above this benchmark. Historically, Indo-National's own Gross Margin % has ranged from 35.48 to 42.88 over the past decade. While the company's 10-year median is 38.88 vs. the industry median of 26.82, Indo-National has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for an Industrial Products company?
The median Gross Margin % among Industrial Products companies is 26.82, based on 2,992 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Indo-National's current Gross Margin % of 36.96% is 37.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Indo-National and its competitors. For the Industrial Products industry, the median Gross Margin % is 26.82 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Indo-National's current Gross Margin % is 36.96%, which is near median its own 10-year median of 38.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Indo-National stock overvalued right now?
Based on GuruFocus' analysis, Indo-National (NSE:NIPPOBATRY) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹402.56, compared to a current price of ₹341.15 — trading 15.3% below its estimated fair value. The current Gross Margin % is 36.96%, which is near median its 10-year median of 38.88 and 37.8% above the Industrial Products industry median of 26.82. Indo-National's overall GF Score™ is 69/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Indo-National (NSE:NIPPOBATRY), the current Gross Margin % is 36.96% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Indo-National (NSE:NIPPOBATRY) Overvalued in 2026?
Based on GuruFocus' analysis, Indo-National stock appears to be undervalued.
The current stock price of ₹341.15 is trading 15.3% below its estimated GF Value™ of ₹402.56.
GuruFocus considers Indo-National to be Modestly Undervalued.
Key valuation signals for NSE:NIPPOBATRY:
Gross Margin %: 36.96% (near median its 10-year median of 38.88)
GF Value™: ₹402.56 vs. price of ₹341.15 (15.3% below fair value)
Industry Position: 37.8% above the Industrial Products median (#697 of 2992)
No single metric tells the full story. See the NSE:NIPPOBATRY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Indo-National Ltd is engaged in the business of manufacturing and marketing of batteries, torches, LED products, electrical accessories, mosquito bats, and razors and blades. The company provides products of Batteries, Torches, LED Lighting, Electrical Accessories, and Mosquito Protection. It operates in one reportable segment, including Consumer Goods.
69GF Score
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Gross Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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