INM - Interiors

📊 NSE: INM 🏢 Miscellaneous 📅 Last Updated: 12/14/2025 8:24

💰 Financial Performance

Revenue Growth by Segment

The UAE subsidiary, Interiors & More Limited LLC-SP, reported a turnover of 2,604,811 AED for FY25, while the domestic subsidiary INM House Pvt Ltd contributed 0% to the total revenue as it remained non-operational since incorporation.

Geographic Revenue Split

Revenue is split between international operations in the UAE (100% of subsidiary turnover from Interiors & More Limited LLC-SP) and domestic operations in India, with a new franchise expansion targeting the Eastern region (Kolkata).

Profitability Margins

The UAE subsidiary achieved a Net Profit margin of 27.83% (Profit After Tax of 724,988 AED on turnover of 2,604,811 AED). The domestic subsidiary INM House Pvt Ltd reported a net loss of INR 13,600.

EBITDA Margin

Not disclosed in available documents; however, the UAE subsidiary's Profit Before Tax margin stood at 27.83% (724,988 AED), indicating high core profitability in international decor markets.

Capital Expenditure

Historical CapEx includes the acquisition of two subsidiaries in 2023: Interiors & More Limited LLC-SP (August 2023) and INM House Pvt Ltd (November 2023). Specific INR Cr values for FY25 expansion were not disclosed.

Credit Rating & Borrowing

The company has sanctioned working capital limits exceeding INR 5 Cr from banks and financial institutions, secured against current assets. Specific interest rate percentages were not disclosed.

⚙️ Operational Drivers

Raw Materials

Specific raw material names like synthetic fabrics, plastics, or ceramics for artificial flowers and decor are not explicitly listed, but inventory is categorized by class with no discrepancies exceeding 10%.

Capacity Expansion

Expansion is currently focused on the retail footprint rather than manufacturing units, specifically the opening of a new franchise outlet in Kolkata on December 15, 2025, through an MOU with Interiors & Flowers LLP.

Logistics & Distribution

The company is expanding its distribution through a franchise model to increase market coverage and brand recognition in the Eastern region of India.

📈 Strategic Growth

Expected Growth Rate

Not disclosed in available documents

Growth Strategy

Growth will be achieved through a dual-track strategy: international scaling via the UAE subsidiary (which is already profitable) and domestic retail expansion via franchise MOUs, such as the Brabourne Road outlet in Kolkata, to leverage local partner networks without heavy capital outlay.

Products & Services

The company sells interior decor products, artificial flowers, and related lifestyle accessories under the 'INM' brand.

Brand Portfolio

INM (Interiors & More).

New Products/Services

The company is launching new franchise-led retail services, with the first major Eastern region outlet set to open in December 2025.

Market Expansion

Targeting the Eastern region of India (Kolkata) via franchise agreements and maintaining a presence in the Middle East (UAE) through a wholly-owned subsidiary.

Strategic Alliances

Entered into an MOU with Interiors & Flowers LLP on December 12, 2025, for a franchise outlet in Kolkata.

🌍 External Factors

Industry Trends

The industry is shifting toward branded retail and franchise-led distribution to capture regional demand. INM is positioning itself by transitioning from a private limited structure to a public entity with expanded market coverage.

Competitive Landscape

The company competes in the fragmented interior decor and artificial flower market against both unorganized local players and organized lifestyle brands.

Competitive Moat

The company's moat is built on its 'INM' brand recognition and its ability to maintain high-quality internal financial controls, which provides a basis for scaling through franchises while maintaining asset security.

Macro Economic Sensitivity

The business is sensitive to the performance of the Indian and international economies, as demand for interior styling is closely linked to real estate growth and disposable income levels.

Consumer Behavior

Increasing consumer preference for branded interior solutions in Tier 1 cities like Kolkata is driving the company's franchise expansion strategy.

Geopolitical Risks

Operations in the UAE subject the company to Middle Eastern regulatory changes and trade policies.

⚖️ Regulatory & Governance

Industry Regulations

Complies with the Companies Act 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, and SEBI (Prohibition of Insider Trading) Regulations 2015.

Environmental Compliance

The company maintains a Health, Safety and Environment (HSE) policy to comply with legal requirements for a safe work environment.

Taxation Policy Impact

The UAE subsidiary reported 0 AED in tax provision for FY25, while the Indian entity follows the Companies Act 2013 and relevant Income Tax rules.

Legal Contingencies

The company reported 0 pending litigations in its financial statements as of March 31, 2025.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the successful integration and performance of new franchise outlets, which could impact brand reputation if standards are not met.

Geographic Concentration Risk

High concentration in the UAE for international revenue (100% of foreign turnover) and a new concentration risk in the Eastern Indian market (Kolkata).