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In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Indo Borax & Chemicals's Net-Net Working Capital for the quarter that ended in Mar. 2026 was ₹85.94.
The industry rank for Indo Borax & Chemicals's Net-Net Working Capital or its related term are showing as below:
NSE:INDOBORAX's Price-to-Net-Net-Working-Capital is ranked better than 65.99% of 588
companies
in the Chemicals industry
Industry Median: 7.46
vs NSE:INDOBORAX: 4.41
Indo Borax & Chemicals (NSE:INDOBORAX) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Indo Borax & Chemicals Net-Net Working Capital Related Terms
Indo Borax & Chemicals Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Indo Borax & Chemicals's Net-Net Working Capital 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.
Indo Borax & Chemicals Net-Net Working Capital Chart
NSE:INDOBORAX vs DOW: Net-Net Working Capital Comparison
For the Chemicals subindustry, Indo Borax & Chemicals's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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 Borax & Chemicals Price-to-Net-Net-Working-Capital vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Indo Borax & Chemicals's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Indo Borax & Chemicals's Price-to-Net-Net-Working-Capital 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.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of ₹85.94 mean?
Indo Borax & Chemicals (NSE:INDOBORAX) has a Net-Net Working Capital of ₹85.94 as of Mar. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Indo Borax & Chemicals According to the industry distribution chart, Indo Borax & Chemicals ranks #200 out of 588 companies in the Chemicals industry, placing it in the top 34%.
Is Indo Borax & Chemicals' Net-Net Working Capital too high?
Indo Borax & Chemicals' current Net-Net Working Capital is ₹85.94. Based on the distribution chart, Indo Borax & Chemicals ranks #200 out of 588 companies in the Chemicals industry, which is above the industry midpoint. Overall, Indo Borax & Chemicals has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Indo Borax & Chemicals' Net-Net Working Capital compare to DOW?
According to the Chemicals industry distribution chart, Indo Borax & Chemicals ranks #200 out of 588 companies for Net-Net Working Capital. This puts Indo Borax & Chemicals in the upper half of its industry. The industry median Net-Net Working Capital is 7.46. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Chemicals company?
The median Net-Net Working Capital among Chemicals companies is 7.46, based on 588 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Indo Borax & Chemicals For the Chemicals industry, the median Net-Net Working Capital is 7.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Indo Borax & Chemicals's current Net-Net Working Capital is ₹85.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Indo Borax & Chemicals stock overvalued right now?
Based on GuruFocus' analysis, Indo Borax & Chemicals (NSE:INDOBORAX) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹218.28, compared to a current price of ₹374.90 — trading 71.8% above its estimated fair value. The current Net-Net Working Capital is ₹85.94. Indo Borax & Chemicals' overall GF Score™ is 71/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Indo Borax & Chemicals (NSE:INDOBORAX), the current Net-Net Working Capital is ₹85.94 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 Borax & Chemicals (NSE:INDOBORAX) Overvalued in 2026?
Based on GuruFocus' analysis, Indo Borax & Chemicals stock appears to be overvalued.
The current stock price of ₹374.90 is trading 71.8% above its estimated GF Value™ of ₹218.28.
GuruFocus considers Indo Borax & Chemicals to be Significantly Overvalued.
Key valuation signals for NSE:INDOBORAX:
Net-Net Working Capital: ₹85.94
GF Value™: ₹218.28 vs. price of ₹374.90 (71.8% above fair value)
No single metric tells the full story. See the NSE:INDOBORAX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Indo Borax & Chemicals Ltd is engaged in the manufacturing and selling of chemical products. The company's product offerings include Boric acid powder, Boric acid granular, Boric acid, Borax decahydrate granular and Borax decahydrate crystal. The company is operating in a single reportable segment i.e. manufacturing and selling of Chemicals. Its products Boric acid powder has applications in metallurgical operation, electroplating industry, nylon dyeing, nylon manufacturing and agricultural use. It derives revenues from the sale of manufactured goods, traded goods and related services.
71GF Score
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