The India Cements share price
NSE: INDIACEMBSE: 530005Cement & Cement ProductsSmall Cap
The India Cements Limited · Face value ₹10 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Jun 1958 on BSE, May 2000 on NSE
Last close ₹302.90down ₹5.95 (1.93%)BSE ₹303.45
Share price at the NSE close on 28 Oct 2026. Previous close ₹308.85.
28 Oct: open ₹308.50, high ₹309.60, low ₹301.00
52-week range of traded prices to 28 Oct 2026
₹286.50Low, 19 Oct 2026₹485.80High, 8 Jan 2026
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹9,387 Cr490th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 76.63
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹45 crore of one-off items, the largest of them in the quarter to Jun 2026.
- 56.14
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 0.92
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 1.2%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹45 crore of one-off items, the largest of them in the quarter to Jun 2026.
- 1.7%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 2.0%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.16
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 3,56,43321.6% delivered
About The India Cements
The India Cements Limited makes and sells cement from plants at Sankarnagar, Sankari, Dalavoi and Vallur in Tamil Nadu, Chilamkur and Yerraguntla in Andhra Pradesh, Vishnupuram and Malkapur in Telangana, and Nokhla in Rajasthan.1 Its cement is used by home builders, infrastructure projects such as roads, dams, airports and real estate, and makers of hollow blocks, paver tiles and concrete pipes.2 It is a subsidiary of UltraTech Cement Limited.3
Cement and clinker (the kiln product that is ground into cement) made up 99.05% of its turnover in the year to Mar 2026; it sold in 14 states and in no other country.4 The company reports a single business segment, cement and cement related products.5 During the year to Mar 2026, it completed moving its product brands to the brand portfolio of UltraTech.6 CARE Ratings said in a rationale the company filed in June that its sales are now routed entirely through UltraTech, with the company supplying cement to UltraTech as its sole customer.7 It had 1,420 permanent employees at the end of March 2026.8
It was incorporated in 1946.9 UltraTech Cement took control of the company in December 2024, and Grasim Industries Limited is its ultimate holding company.10 To meet minimum public shareholding rules, UltraTech's holding was reduced to 74.998% by December 2025, and public shareholding rose to 25.002%.11
The India Cements key points
Results
- In the quarter to Sep 2026, consolidated (the company with its subsidiaries) revenue from operations was ₹1,142 crore, against ₹1,117 crore a year earlier, and EBITDA (earnings before interest, tax, depreciation and amortisation) rose 34% to ₹148 crore from ₹110 crore.1213
- Consolidated profit after tax for the quarter to Sep 2026 was ₹39 crore, against ₹9 crore a year earlier. For the year to Mar 2026, consolidated loss before tax was ₹6,347.02 lakh, against ₹19,065.39 lakh a year earlier.1415
- On a standalone basis (the company alone), revenue from operations for the year to Mar 2026 was ₹4,485 crore, against ₹4,080 crore a year earlier, and profit after tax was ₹65.31 crore, against a loss of ₹655.64 crore.16
- The company says its standalone results for the year to Mar 2026 are not strictly comparable with the year before, as they include the merged subsidiaries for the full year and the earlier year only for part of it.17
Plants and capacity
- The company's existing cement capacity is 14.75 million tonnes a year, and cement capacity utilisation (production as a share of capacity) was 70% in the year to Mar 2026, against 62% a year earlier.1819
- Domestic cement volume in the quarter to Sep 2026 was 2.83 million tonnes, up 16.2% from a year earlier.20
Customers and partners
- In the year to Mar 2026, the company's transactions with its parent UltraTech, covering purchases from it and sales to it of goods, services and power, came to ₹2,769.26 crore.21
Expansion and capital spending
- The company stated in its annual report for the year to Mar 2026 that it is spending ₹2,014 crore over 2 years: ₹440 crore to add 2.80 million tonnes of cement capacity, taking it to 17.55 million tonnes, and ₹1,574 crore to modernise its plants.22
- In its presentation of 17 Oct 2026, the company said about ₹1,728 crore had been committed by September 2026 to an investment programme that includes capacity expansion, 24 MW of waste heat recovery (power made from kiln exhaust heat) and 263 MW of renewable power.23
- In its presentation of 17 Oct 2026, the company said it plans to scale up green power (renewable energy plus waste heat recovery) to 80% of its power by the year to Mar 2029.24
Captive renewable power
- In the quarter to Sep 2026, renewable energy made up 24.7% of the company's power mix, against 7.1% a year earlier, and waste heat recovery 6.6%, against 5.9%.25
- On 15 Oct 2026, the company agreed to buy 3.62% of Zenataris Renewable Energy Private Limited for up to ₹20,90,00,000; Zenataris is to supply 11 MW of renewable energy to its plants on a group captive basis (the company holds a share in the supplier).2627
- On 2 Sep 2026, the company agreed to buy 26% of Amplus TN One Energy Private Limited for up to ₹14,06,27,240; Amplus is setting up 41.80 MW (AC) of solar power with battery storage for 4 cement units in Andhra Pradesh and Telangana.2829
- On 10 Jun 2026, the company agreed to buy 12.48% of FPEL Services Private Limited for up to ₹10,78,00,000; FPEL is to supply 14 MW (AC) of wind power from a project at Karur to its Tamil Nadu plants.3031
Recent events
- In its exchange filing of 26 Jun 2026, the company said CARE Ratings reaffirmed its CARE AAA; Stable rating (the agency's top grade for long-term debt) on long-term bank facilities, which were raised to ₹1,891.28 crore from ₹1,062.95 crore.32
- On 28 Mar 2026, the merger of 4 wholly owned subsidiaries, ICL Securities, ICL Financial Services, ICL International and India Cements Infrastructures, into the company took effect.33
- On 2 Dec 2025, PT Adcoal Energindo, Indonesia ceased to be a subsidiary after the company sold it through its subsidiaries in Indonesia and Singapore.34
Litigation and regulatory matters
Last updated
All 36 sources, each with its page
- 1. Annual report, 17 Jul 2026, page 43
- 2. Annual report, 17 Jul 2026, page 54
- 3. Annual report, 17 Jul 2026, page 2
- 4. Annual report, 17 Jul 2026, page 54
- 5. Annual report, 17 Jul 2026, page 160
- 6. Annual report, 17 Jul 2026, page 28
- 7. Exchange filing, 26 Jun 2026, page 2
- 8. Annual report, 17 Jul 2026, page 30
- 9. Annual report, 17 Jul 2026, page 5
- 10. Annual report, 17 Jul 2026, page 152
- 11. Annual report, 17 Jul 2026, page 98
- 12. Investor presentation, 17 Oct 2026, page 17
- 13. Investor presentation, 17 Oct 2026, page 10
- 14. Investor presentation, 17 Oct 2026, page 18
- 15. Annual report, 17 Jul 2026, page 189
- 16. Annual report, 17 Jul 2026, page 17
- 17. Annual report, 17 Jul 2026, page 18
- 18. Annual report, 17 Jul 2026, page 18
- 19. Annual report, 17 Jul 2026, page 17
- 20. Investor presentation, 17 Oct 2026, page 5
- 21. Annual report, 17 Jul 2026, page 94
- 22. Annual report, 17 Jul 2026, page 28
- 23. Investor presentation, 17 Oct 2026, page 6
- 24. Investor presentation, 17 Oct 2026, page 22
- 25. Investor presentation, 17 Oct 2026, page 21
- 26. Exchange filing, 15 Oct 2026, page 1
- 27. Exchange filing, 15 Oct 2026, page 2
- 28. Exchange filing, 2 Sep 2026, page 1
- 29. Exchange filing, 2 Sep 2026, page 2
- 30. Exchange filing, 10 Jun 2026, page 1
- 31. Exchange filing, 10 Jun 2026, page 2
- 32. Exchange filing, 26 Jun 2026, page 1
- 33. Annual report, 17 Jul 2026, page 172
- 34. Annual report, 17 Jul 2026, page 98
- 35. Exchange filing, 22 Jul 2026, page 2
- 36. Exchange filing, 22 Jul 2026, page 1
Results
Consolidated; ₹ crore.The India Cements quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +5.2%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +851.1%
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹1,142 Crup 12.03%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹39 Crup 44.58%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 3.4%
Revenue by quarter
Net profit by quarter, a loss in red
- Net profit
- Loss
A loss in 2 of the 8 quarters shown
The quarters either side of a change of basis do not compare. From the quarter to Mar 2025, the company's revenue for the year to Mar 2025, ₹4,149 Cr, differs from its quarters added, ₹4,197 Cr.
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 941 | 1,197 | 1,025 | 1,117 | 1,114 | 1,229 | 1,019 | 1,142 |
| Net profit | 122 | 15 | −133 | 9 | −3 | 60 | 27 | 39 |
| Net margin | – | – | −13.0% | 0.8% | −0.2% | 4.8% | 2.6% | 3.4% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share. Net margin is left blank for Dec 2024 and Mar 2025: the profit includes the result of a business the company has discontinued, which the revenue does not, so the two make no margin.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹4,485 Crup 8.10%
- Net profitNet profit. Under it, net profit in the year before. A change in per cent is not worked out where either period is a loss or nothing.
- −₹67 CrYear to Mar 2025: −₹144 Cr
- Net margin
- −1.5%
Revenue by year
Net profit by year, a loss in red
- Net profit
- Loss
A loss in 4 of the 10 years shown
The years either side of a change of basis do not compare. From the year to Mar 2025, the company's revenue for that year, ₹4,149 Cr, differs from its quarters added, ₹4,197 Cr.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5,880 | 5,432 | 5,770 | 5,186 | 4,511 | 4,858 | 5,608 | 5,112 | 4,149 | 4,485 |
| Net profit | 151 | 66 | 19 | 50 | 207 | 78 | −127 | −227 | −144 | −67 |
| Net margin | 2.6% | 1.2% | 0.3% | 1.0% | 4.6% | 1.6% | −2.3% | −4.4% | – | −1.5% |
Consolidated. Years to March. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share. Net margin is left blank for Mar 2025: the profit includes the result of a business the company has discontinued, which the revenue does not, so the two make no margin.
Business segments
In the year to Mar 2026 the company reports one business segment, Cement and Cement Related products, which carries all its revenue.
Valuation
Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2025: days before it are of the company before the change.The India Cements PE ratio and valuation
Price to book
At or below today's level on 31% of 1,975 trading days since Nov 2018.
LowestHighest
Its median1.06Industry median1.42
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 32% of 2,439 trading days over the last 10 years.
LowestHighest
Its median0.48%Industry median0.65%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +24.1% | – | – | 0.0% |
| 3 years | +22.9% | – | – | 0.0% |
| 5 years | +15.6% | – | – | 0.1% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record. Earnings growth over 1 and 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.
Mutual fund holdings
66 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 40 of the 45 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 66 funds holding The India Cements
- AddedAdded. Funds that held more shares than at the end of the month before.
- 17
- CutCut. Funds that held fewer shares than at the end of the month before.
- 28
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 21
| Fund | |||
|---|---|---|---|
 Kotak Large & Mid Cap FundKotak Mahindra Mutual Fund | 82,00,000 | 0.81% | ₹247.5 Cr |
| Kotak Multi Cap FundKotak Mahindra Mutual Fund | 49,65,090 | 0.49% | ₹149.9 Cr |
 Franklin India Small Cap FundFranklin Templeton Mutual Fund | 42,96,380 | 0.91% | ₹129.7 Cr |
 SBI Midcap FundSBI Mutual Fund | 21,73,922 | 0.28% | ₹65.6 Cr |
| SBI Infrastructure FundSBI Mutual Fund | 12,50,000 | 0.80% | ₹37.7 Cr |
| Kotak Manufacture in India FundKotak Mahindra Mutual Fund | 12,00,000 | 1.16% | ₹36.2 Cr |
| Kotak Large Cap FundKotak Mahindra Mutual Fund | 10,00,804 | 0.29% | ₹30.2 Cr |
 Baroda BNP Paribas Multi Cap FundBaroda BNP Paribas Mutual Fund | 9,60,000 | 0.88% | ₹29.0 Cr |
 ICICI Prudential Aggressive Hybrid FundICICI Prudential Mutual Fund | 8,68,531 | 0.05% | ₹26.2 Cr |
| Baroda BNP Paribas Small Cap FundBaroda BNP Paribas Mutual Fund | 3,86,532 | 0.91% | ₹11.7 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 29 Oct 2025.The India Cements insider trading
Bought on the marketBought on the market. The value each filer stated for its purchases on the exchange, added up; gifts, transfers and pledges are not counted. A purchase filed with no value is counted under the sum, not in it. Sold on the marketSold on the market. The value each filer stated for its sales on the exchange, added up; gifts, transfers and pledges are not counted. A sale filed with no value is counted under the sum, not in it.
- Promoters and promoter group0 purchases, 5 salesNo purchase₹73 CrNetNet. The value bought on the market less the value sold, over the trades whose filers stated a value.−₹73 Cr
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
The India Cements competitors and peers
Cement & Cement Products, 38 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to The India Cements in market cap. 2 companies in its own group left out: one owns more than half of the other, directly or through a company it controls, or one owner more than half of both.Construction materials companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 ACCACC | 21,412 | 24.26 | 1.04 | +4.6% | −73.6% | 4.3% | 5.1% | 0.66% |
 The Ramco CementsRAMCOCEM | 17,290 | 26.81 | 2.14 | +8.6% | +101.2% | 8.3% | 5.0% | 0.34% |
 JSW CementJSWCEMENT | 15,703 | 20.68 | 2.31 | – | – | 11.8% | 7.7% | 0.43% |
 Nuvoco Vistas CorporationNUVOCO | 11,931 | 28.76 | 1.25 | +10.6% | +52.0% | 4.4% | 6.6% | 0.00% |
 Star CementSTARCEMENT | 6,564 | 17.76 | 2.06 | +14.5% | +56.4% | 12.2% | 14.1% | 0.62% |
 Birla CorporationBIRLACORPN | 5,991 | 10.82 | 0.81 | +3.9% | +44.9% | 7.7% | 8.5% | 1.61% |
 JK Lakshmi CementJKLAKSHMI | 5,704 | 15.42 | 1.47 | +8.7% | −2.4% | 10.1% | 9.9% | 1.41% |
 Prism JohnsonPRSMJOHNSN | 4,812 | 27.56 | 3.15 | +1.0% | – | – | – | 0.00% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.The India Cements dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹1.00 a share, years to Mar 2017, Mar 2021 and Mar 2022.
| Ex-date | Type | Per share |
|---|---|---|
| 20 Sep 2022 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹1.00 |
| 31 Aug 2021 | Final | ₹1.00 |
| 18 Sep 2020 | Final | ₹0.60 |
| 4 Sep 2019 | Final | ₹0.80 |
| 11 Sep 2018 | Final | ₹0.80 |
| 24 Aug 2017 | Final | ₹1.00 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.The India Cements announcements
Oct 2026
27 Oct · Meeting
19 Oct · Analysts
17 Oct · General Updates
17 Oct · Results
15 Oct · Business
The India Cements share price by year
Each calendar year to 2025.The India Cements share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 435.25 | +15.7% | 448.05 | 246.65 |
| 2024 | 376.35 | +45.4% | 380.45 | 184.70 |
| 2023 | 258.90 | +18.5% | 272.50 | 168.40 |
| 2022 | 218.45 | +13.6% | 289.85 | 150.05 |
| 2021 | 192.25 | +13.6% | 223.10 | 154.70 |
| 2020 | 169.20 | +137.0% | 174.05 | 71.70 |
| 2019 | 71.40 | −25.7% | 114.40 | 69.75 |
| 2018 | 96.10 | −47.6% | 201.40 | 81.65 |
| 2017 | 183.45 | +57.3% | 220.95 | 122.00 |
| 2016 | 116.60 | +20.4% | 160.65 | 66.45 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 305.90 | 311.80 | 302.75 | 308.85 | 307.37 | 8,54,264 | 16.4% |
| 26 Oct 2026 | 310.00 | 317.80 | 301.90 | 306.00 | 308.19 | 20,27,827 | 8.9% |
| 23 Oct 2026 | 335.00 | 336.00 | 308.25 | 315.80 | 318.50 | 99,06,324 | 5.0% |
| 22 Oct 2026 | 322.35 | 358.80 | 316.25 | 331.75 | 341.85 | 5,58,10,842 | 2.9% |
| 21 Oct 2026 | 298.40 | 348.70 | 296.55 | 329.80 | 320.43 | 2,85,33,954 | 3.7% |
| 19 Oct 2026 | 309.10 | 315.00 | 286.50 | 294.35 | 294.22 | 21,07,356 | 26.3% |
| 16 Oct 2026 | 298.00 | 304.50 | 296.45 | 302.30 | 301.26 | 2,42,209 | 40.3% |
| 15 Oct 2026 | 294.75 | 298.10 | 293.25 | 297.40 | 296.61 | 67,943 | 49.2% |
| 14 Oct 2026 | 300.65 | 302.15 | 295.20 | 295.65 | 298.24 | 1,04,274 | 46.2% |
Prices in ₹ per share as traded, not adjusted.
Company details
- NSE symbol
- INDIACEM
- BSE code
- 530005
- ISIN
- INE383A01012
- Industry
- Cement & Cement Products
- Website
- www.indiacements.co.in
- CIN
- L26942TN1946PLC000931
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1946
- Registered office
- 827, Dhun Building, Anna Salai, Chennai 600002, Tamil Nadu
- Share registrar
- Integrated Registry Management Services Pvt. Ltd (Integrated Enterprises (India) Ltd)
- Keeps the register of shareholders and handles transfers and dividend payments
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