Manufactures products for the construction & renovation industries.
Inrom has already delivered a broad recovery across all four segments, but the real economic test for 2026 is whether Nirlat can return to normal margin structure and whether the heavy investment cycle starts generating returns rather than only revenue.
Inrom has no formal controlling shareholder, but the Baron family footprint is broad enough that the real governance test now sits in the independence and discipline of the audit committee, compensation committee, and general meeting.
Inrom generated strong operating cash in 2025, but on an all-in basis almost no free cash was left after capex, lease principal, dividends, and short-debt reduction.
Nirlat has already passed the volume test. The 2026 question is whether the new plant and the gradual exit from temporary production can restore margins before the compensation line fades.
