Indobell Insulations Ltd (544334)

Indobell Insulations Limited has been awarded a domestic contract worth ₹6.98 Cr by BHEL Haridwar for thermal insulation work on two 800 MW turbine projects. The order value represents approximately 17% of the company's TTM revenue of ₹41 Cr and about 45% of its FY26 annual revenue of ₹15.58 Cr. Scope covers design, material supply, application, and performance testing. Execution timelines are outlined as 15/02/30 and 15/08/30, with payment released unit-wise upon completion and certification.

• Order value of ₹6.98 Cr secured from BHEL - HARIDWAR
• Scope includes thermal insulation for 2 Nos of 800 MW projects
• Work spans design, material supply, site application, and performance testing
• Target execution milestone dates specified as 15/02/30 and 15/08/30
• 100% unit-wise payment upon completion certificate from BHEL at site

Indobell Insulations reported its unaudited standalone results for the half-year ended September 30, 2026. Revenue from operations doubled to ₹1,427.76 lakhs compared to ₹700.40 lakhs in H1 FY26, while net profit grew nearly threefold to ₹142.90 lakhs from ₹47.93 lakhs. The company also confirmed 100% utilization of its ₹1,014.30 lakh IPO proceeds following the deployment of the remaining ₹41.00 lakhs toward plant and machinery capex in July-August 2026. Additionally, the board approved a salary hike for Directors, KMPs, and Senior Management.

• H1 FY27 revenue from operations surged 103.8% YoY to ₹1,427.76 lakhs vs ₹700.40 lakhs in H1 FY26
• Net profit for the half-year grew 198.1% YoY to ₹142.90 lakhs vs ₹47.93 lakhs
• Basic & Diluted EPS rose to ₹2.27 for H1 FY27 compared to ₹0.76 in H1 FY26
• Auditor certified 100% utilization of ₹1,014.30 lakh IPO proceeds, deploying final ₹41.00 lakhs on plant and machinery
• Short-term borrowings climbed to ₹544.71 lakhs from ₹17.28 lakhs as of March 31, 2026

Indobell Insulations Limited has bagged an international export order worth USD 1,70,000 (approximately Rs 1.4–1.5 Cr) for Steam Turbine Insulation-Blanket Therm. The contract is awarded by an undisclosed overseas buyer under an NDA and is scheduled for execution by July 04, 2027. Payment terms are structured at net 150 days from the invoice date under FCA supplier factory terms. While modest compared to its TTM revenue of Rs 41 Cr, it strengthens the company's international project footprint.

• Order value is USD 1,70,000 (approx. Rs 1.4-1.5 Cr)
• Execution timeline set up to 04 July, 2027
• Payment term agreed at 150 days net from invoice date
• Contract is for Steam Turbine Insulation-Blanket Therm with zero promoter interest

Indobell Insulations has secured an export order worth USD 170,000 (approximately ₹1.42 Cr) from GE Vernova Operations LLC, USA. The contract involves the supply of Steam Turbine Insulation-Blanket Therm and is scheduled for completion by March 26, 2027. While the order value is modest at ~3.5% of the company's TTM revenue of ₹41 Cr, the association with a global major like GE Vernova is a positive qualitative development. Investors should note the relatively long payment term of 150 days from the invoice date.

• Secured export order valued at USD 170,000.00 from GE Vernova Operations LLC, USA
• Order involves the supply of Steam Turbine Insulation-Blanket Therm
• Execution deadline for the contract is set for 26 March 2027
• Payment terms are 150 days from the net invoice date
• Order value represents approximately 3.5% of TTM revenue of ₹41 Cr

Indobell Insulations Limited has secured a domestic contract worth ₹2.19 crore for the supply of Nodulated Wool. The order was awarded by Sundaram Brake Linings Limited, a domestic entity. The execution of this contract is scheduled to be completed by March 2028. Payment terms are structured as a 45-day direct credit, and the transaction involves no related party interests.

• Total order value stands at ₹2,19,40,477.50
• Execution timeline extends until March 2028
• Payment terms fixed at 45 days direct credit
• Client identified as Sundaram Brake Linings Limited
• Order is for the supply of Nodulated Wool

Indobell Insulations has bagged an international export order worth USD 47,400 (approximately ₹39.5 lakhs) from GE Vernova Operations LLC, USA. The order involves supplying External Insulation 7HA.02 and is scheduled for completion by June 13, 2028. While the contract value is modest, the association with a global energy leader like GE Vernova serves as a significant technical validation for the company's products. Investors should note the unusually long payment term of Net 150 days, which could impact working capital cycles.

• Secured an export order valued at USD 47,400 from GE Vernova Operations LLC, USA.
• The contract is for the supply of External Insulation 7HA.02.
• Execution timeline is set for completion by June 13, 2028.
• Payment terms are structured as Net 150 Monthly, indicating a 5-month credit period.
• The order is categorized as an international export contract with no promoter interest involved.