Indo-MIM shares hit 10% upper circuit on strong Q1 growth as raw material costs decline 11% in June quarter

Indo-MIM shares surged 10% to hit their upper circuit level during the early market hours on Tuesday, August 18, as investors focused on the company’s strong April to June quarter earnings growth and the decline in overall raw material costs in the period.

NSE data showed that the recently listed Indo-MIM shares rose 10% to touch their intraday high, upper circuit level and all-time high of ₹952.75 apiece on Tuesday’s market session, in comparison to ₹866.15 apiece at the previous equity market close.

The company announced its Q1 earnings report after the market operating hours on Monday evening, August 17, 2026. Trading was suspended after the stock hit its upper circuit level, till sell orders emerge on the exchange.

The total trading volume of the company’s stock across both NSE and BSE surged above 5.8 million during the morning market hours, according to Trendlyne data.

The Q1 print showed that the industrial products maker registered strong growth in profits and a healthy revenue rise, while the cost of raw materials dropped in the period, further aiding the overall margin improvement.

How did Indo-MIM perform in Q1 earnings?

NSE filings showed that Indo-MIM recorded a 31.6% year-on-year (YoY) growth in net profit after tax (PAT) to ₹240 crore in the April to June quarter results, in comparison to ₹182 crore in the same period a year earlier.

The company’s consolidated revenue from core operations advanced 9.3% YoY to ₹1,219 crore in the first quarter of FY27, compared with ₹1,114 crore in the same period a year earlier.

Indo-MIM’s overall expenses remained under control, increasing only 1.6% to ₹897 crore in the period under review, from ₹882 crore in the same period a year earlier, due to the reduction in cost of raw materials consumed.

The exchange filings also showed that the company’s raw material costs declined 11% YoY to its June quarter level of ₹205.36 crore, from ₹230.44 crore in the corresponding quarter of the previous financial year.

Margin gains

Indo-MIM’s operational-level earnings before interest, tax, depreciation and amortisation (EBITDA) improved 24.4% YoY to ₹407 crore in the June quarter of FY27, in comparison to ₹327 crore in the same quarter a year earlier.

The filing data further showed that the company’s EBITDA margins expanded to 33.35% in the first quarter of the fiscal year, from 29.32% in the corresponding quarter of the previous financial year.

How much did shares gain since IPO listing?

With Indo-MIM’s IPO issue price at ₹485 apiece, the company stock has gained nearly 94% since its listing on the Indian stock market, as of the data collected on Tuesday, August 18, 2026.

After making a 44.33% premium listing debut at ₹700 apiece on July 30, 2026, the company’s stock has continued its rise on the equity market.

NSE data showed that the company's shares have risen 13% in the last week, and 25% on a year-to-date (YTD) basis.

The exchange data also showed that Indo-MIM’s market capitalisation (m-cap) was trading at around ₹46,664 crore as of the trading session on Tuesday, August 18, 2026.