Interno Fusion Ltd
Modular-kitchen, wardrobe, door and board-processing manufacturer with ₹64.7 Cr of FY25 revenue and ₹1.95 Cr of profit, quoted at ₹88 on UnlistedZone — a small, fast-growing pre-IPO furniture name.
Market cap
₹96.9 Cr
1.14 Cr shares
P/E ratio
49.71
Sector average 40
Book value
₹19.47
P/B 4.37
1-year return
+7.01%
52w ₹80 – ₹88
Currently 63% of the way through its 52-week range.
Indicative price history
1Y change
+7.01% ₹79 → ₹85
52-week band in this window: ₹78.96 – ₹88.00. Weekly indicative marks, not exchange-traded prices.
Key highlights
- FY25 revenue ₹64.7 Cr, EBITDA ₹5.28 Cr, net income ₹1.95 Cr, EPS ₹1.71 (unaudited press summary).
- Total assets ₹36.71 Cr and liabilities ₹14.5 Cr — equity of about ₹22.2 Cr, book value about ₹19.5 a share.
- Management projects revenue of ₹146.8 Cr in FY26 and ₹324 Cr by FY29.
- UnlistedZone indicative ₹88 (21 Jul 2026), lot 2,000; wwipl ₹86, Planify ₹87.70; implied market cap about ₹100 Cr.
About Interno Fusion
Interno Fusion is an Indian manufacturer of modular kitchens, wardrobes, doors and board-processing solutions (cutting, edge-banding and laminating of plywood, MDF and particle board) for the home-interior market. It supplies interior designers, builders and retail customers with factory-finished modular units and processed boards, competing with the organised furniture arms of Sheela Foam, Greenply and Century Ply and with online interior platforms. The share trades in the unlisted market under ISIN INE0YET01012 with a face value of ₹10.
For FY2025 the company reported total revenue of ₹64.7 Cr, EBITDA of ₹5.28 Cr (8.2% margin) and net income of ₹1.95 Cr, with earnings per share of ₹1.71 — implying roughly 1.14 Cr shares outstanding. Total assets were ₹36.71 Cr against liabilities of ₹14.5 Cr, leaving shareholders' equity of about ₹22.2 Cr (book value about ₹19.5 a share). The company projects revenue of ₹146.81 Cr in FY2026 and ₹324 Cr by FY2029 with operating margins of 10–13%, figures that come from a promotional pre-IPO article and have not been audited.
Valuation at the listed rate: UnlistedZone's indicative price was ₹88 on 21 July 2026 in lots of 2,000 shares; wwipl last traded at ₹86 (52-week range ₹80–86) and Planify quoted ₹87.70 on 15 July 2026 with a 500-share minimum. At ₹88 the implied market capitalisation is about ₹100 Cr — roughly 51 times FY25 earnings, 4.5 times book value and 1.5 times FY25 sales. The multiple rests entirely on the projected tripling of revenue; on FY25 numbers alone it is expensive for a thin-margin furniture maker.
Verification status (10 Oct 2026): the ISIN, rate, lot and face value are from UnlistedZone, wwipl and Planify snippets; the FY25 revenue, EBITDA, net income, EPS, total assets and liabilities are from a Tribune India pre-IPO feature and are presented as reported but unaudited. The CIN, incorporation date (shown as indicative), registered office, directors, exact share count, headcount, segment split and every other balance-sheet and cash-flow line are estimates or unknown — confirm with the dealer and the company's MCA filings before trading.
Where the revenue comes from
- Modular kitchens and wardrobes55%
Factory-finished modular units for homes (estimate)
- Doors20%
Flush and laminated doors (estimate)
- Board processing25%
Cutting, edge-banding and lamination of plywood, MDF and particle board for third parties (estimate)
Products & services
Modular kitchens
Factory-made carcass and shutter systems in laminate, acrylic and PU finishes.
Wardrobes and storage
Modular wardrobes, sliding systems and loft units.
Doors
Flush, laminated and designer doors for residential projects.
Board processing
Cutting, edge-banding, lamination and drilling of plywood, MDF and particle board for furniture makers and contractors.
What works
- • Rides the shift of Indian home interiors from carpenter-built to factory-made modular units, with board-processing capacity that also serves other furniture makers.
- • Profitable and lightly geared: FY25 EBITDA ₹5.28 Cr and net income ₹1.95 Cr on equity of about ₹22.2 Cr with liabilities of only ₹14.5 Cr.
- • Ambitious growth plan — management projects revenue of ₹146.8 Cr in FY26 and ₹324 Cr by FY29 at 10–13% operating margins.
- • Small, liquid-enough quote: three dealer platforms (UnlistedZone, wwipl, Planify) show rates within ₹86–88.
What to watch
- • At ₹88 the stock trades at about 51 times FY25 earnings and 4.5 times book; the valuation depends on unaudited projections of a near-tripling of revenue.
- • Thin margins (8% EBITDA, 3% net) in a fragmented, price-competitive market dominated by unorganised carpenters and well-funded platforms.
- • Very little public disclosure: CIN, registered office, board and audited accounts were not found; the only financial source is a promotional article.
- • Lot-size and price discrepancies between dealers (2,000 shares on UnlistedZone, 500 on Planify; Planify's 52-week high of ₹162 contradicts its own range) point to a thin, negotiable market.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| Interno FusionThis page | ₹85.00 | ₹96.9 Cr | 49.71 | 4.37 | +0.00% |
| Urban Tots | ₹76.50 | ₹229.5 Cr | 26.11 | 3.83 | +41.42% |
Latest reported year: FY25 ending 31 Mar 2025.