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HDFC Securities Report
Indo-MIM Ltd. shares touched an all-time high after HDFC Securities initiated coverage on the precision engineering company with a 'Buy' rating and a target price of Rs 1,407, implying a potential upside of nearly 42% from the closing price of Rs 993 on September 17.
Indo-MIM shares rose as much as 4.71% to hit an all time high of Rs 1,040 per share on the NSE. At 11:05 am, the stock was trading 3.69% higher at Rs 1,030.80.
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According to the brokerage, Indo-MIM is the world's largest manufacturer of precision engineering components using Metal Injection Molding (MIM) technology, commanding an estimated ~7% global market share.
The company has evolved beyond its core MIM business and now offers investment casting, precision machining, ceramic injection molding and metal 3D printing solutions, positioning itself as a one-stop advanced manufacturing partner for global OEMs.
HDFC Securities believes Indo-MIM is well placed to benefit from global supply-chain diversification, particularly the China+1 manufacturing shift, given its strong presence across India, the US and Europe. The brokerage highlighted that exports contributed 77% of FY26 revenue, with North America and Europe accounting for a substantial share of the business. The company derives more than 91% of its revenue from repeat customers, reflecting strong client relationships and high entry barriers.
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