{
 "as_of": "2026-11-06",
 "cmr": "de-cm-kg/XETRA/INH",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# INDUS HOLDING AG (Xetra: INH) — research page\n\nAs of 2026-11-06 · de-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is INDUS HOLDING AG, listed on Xetra under ticker INH, with ISIN DE0006200108 and LEI 529900GE4O7ZOMRWR939. Its security type is Corporate, its segment is SDAX, and its jurisdiction is Germany (Handelsregister HRB). The sector is not on the record. Its listing status is listed, not halted.\n\n## The disclosure read\n\nThe record holds 18 filings across 12 filing days in the window 2025-11-06 to 2026-11-06. The filings are 8 corporate news, 7 newswire releases, 2 results and 1 dividend. The median gap between filing days is 5 days. The latest filing is dated 2026-11-03, is of type dividend, and falls 3 days before the record date of 2026-11-06. The Xetra exchange peers on the record have a median of 6 filings, a median cadence gap of 22.8 days and a median latency of 5.5 days, across 419 issuers. The sector peer figures for DE are not on the record.\n\n## Auditor\n\nThe auditor of record is Messers Yousuf Adil, Chartered Accountants. Its location is not on the record. Auditor changes are not on the record, as this register has no lifecycle type map yet.\n\n## Events and halts\n\nListing, delisting, name change, domicile change and segment move are not on the record, as this register has no lifecycle type map yet. The halt flag shows listed, not halted.\n\n## Orderability\n\nThe outcome is determinable for all three client categories the chapter names: Professionelle Kunden, Privatkunden and Geeignete Gegenparteien. Each carries signal ACM-200. The rule version is acm-68000/de/mifid-ii-product-governance-produkt-berwachung/r1, and the chapter is as of 2026-11-04.\n\n## Coverage\n\nThe issuer's investor-relations page names 8 research houses: LBBW, METZLER Capital Markets, MPCM Research, mwb research, NuWays, ODDO BHF, Pareto and Parmantier.\n\n## Open research\n\nThe record holds 3 openly published research notes: NuWays dated 2026-08-13, mwb research dated 2026-07-30, and Parmantier & CIE. Research dated 2026-07-30.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nThe market's vintage is not sealed. No issuer years are sealed, the market's earliest sealed date is not on the record, and the live record began is not on the record.\n\n## Sources\n\n12 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (identity.exchange)\n- https://api.gleif.org/api/v1/lei-records/529900GE4O7ZOMRWR939 (identity.jurisdiction)\n- https://mapping.gleif.org/api/v2/isin-lei/latest/download (identity.lei)\n- https://mcp.de-cm-kg.ai/events/XETRA/INH (the disclosure lines)\n- https://www.cashmarket.deutsche-boerse.com/cash-en/Stay-Informed/current-regulatory-topics/mifid-ii-releases/4086638!suspension-list (the halt flag)\n- https://indus-group.com/wp-content/uploads/2025/10/SUTM-Annual-Accounts-June-30-2025.pdf (the auditor)\n- https://mcp.de-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://indus.eu/investors/share-coverage/ (coverage)\n- https://indus.eu/wp-content/uploads/20260813-NuWays-BUY-EUR-41.00-Post-26H1.pdf (open research)\n- https://indus.eu/wp-content/uploads/20260730-mbw-Buy-43.00-EUR-INDUS-Holding-prelim-Q2-26-results.pdf (open research)\n- https://indus.eu/wp-content/uploads/20260730-PARMANTIER_-BUY-TP-36.50-EUR-Forecast-ranges-raised-again.pdf (open research)\n- https://mcp.de-cm-kg.ai/record/XETRA/INH (the record)\n",
 "market": "DE",
 "node": "de-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [],
   "live_record_began": null,
   "node_history_from": null,
   "node_years_sealed": [],
   "note": "the DE vintage is not sealed; the record is the live record as of 2026-11-06",
   "record_version": 1,
   "sealed": false
  },
  "auditor": {
   "auditor": {
    "read_by": "read by ChatGPT (batch)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://indus-group.com/wp-content/uploads/2025/10/SUTM-Annual-Accounts-June-30-2025.pdf",
    "state": "filled",
    "value": "Messers Yousuf Adil, Chartered Accountants"
   },
   "auditor_firm_id": {
    "market": "DE",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "DE",
    "state": "not_on_record"
   },
   "changes": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "cmr": "de-cm-kg/XETRA/INH",
  "coverage": {
   "count": 8,
   "houses": [
    {
     "analyst": "Volker Stoll",
     "house": "LBBW",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "since": "Aug 2026",
     "source": "https://indus.eu/investors/share-coverage/",
     "state": "sourced"
    },
    {
     "analyst": "Victor Beyer",
     "house": "METZLER Capital Markets",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "since": "Oct 2026",
     "source": "https://indus.eu/investors/share-coverage/",
     "state": "sourced"
    },
    {
     "analyst": "Felix Ellmann",
     "house": "MPCM Research",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "since": "Oct 2026",
     "source": "https://indus.eu/investors/share-coverage/",
     "state": "sourced"
    },
    {
     "analyst": "Thomas Wissler",
     "house": "mwb research",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "since": "Aug 2026",
     "source": "https://indus.eu/investors/share-coverage/",
     "state": "sourced"
    },
    {
     "analyst": "Christian Sandherr; Sarah Hellemann",
     "house": "NuWays",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "since": "Oct 2026",
     "source": "https://indus.eu/investors/share-coverage/",
     "state": "sourced"
    },
    {
     "analyst": "Adrian Pehl",
     "house": "ODDO BHF",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "since": "Jul 2026",
     "source": "https://indus.eu/investors/share-coverage/",
     "state": "sourced"
    },
    {
     "analyst": "Zafer Rüzgar",
     "house": "Pareto",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "since": "Jul 2026",
     "source": "https://indus.eu/investors/share-coverage/",
     "state": "sourced"
    },
    {
     "analyst": "Daniel Großjohann",
     "house": "Parmantier",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "since": "Aug 2026",
     "source": "https://indus.eu/investors/share-coverage/",
     "state": "sourced"
    }
   ],
   "pages_checked": [
    {
     "page": "https://indus.eu/investors/share-coverage/",
     "result": "read: 8 of 16 named houses found on the page"
    },
    {
     "page": "https://indus.eu/wp-content/uploads/20251113-WARBURG_BUY-39_en.pdf",
     "result": "not readable by this rail (404)"
    },
    {
     "page": "https://indus.eu/wp-content/uploads/20250815-NuWays-BUY-34-EUR_-Weak-H1.pdf",
     "result": "not readable by this rail (404)"
    },
    {
     "page": "https://indus.eu/wp-content/uploads/NuWays.pdf",
     "result": "not readable by this rail (404)"
    },
    {
     "page": "https://indus.eu/de/wp-content/uploads/sites/2/mwb.pdf",
     "result": "not readable by this rail (404)"
    }
   ],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-12",
   "since": "stated per house where the page states it",
   "state": "found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 419,
     "median_cadence_gap_days": 22.8,
     "median_filings": 6,
     "median_latency_days": 5.5,
     "name": "Xetra"
    },
    "sector": {
     "market": "DE",
     "state": "not_on_record"
    }
   },
   "by_type": {
    "corporate_news": 8,
    "dividend": 1,
    "newswire_release": 7,
    "results": 2
   },
   "cadence_median_gap_days": 5,
   "filing_days": 12,
   "filings": 18,
   "latency_days": 3,
   "latest": [
    {
     "category": null,
     "date": "2026-11-03",
     "source": "https://www.prnewswire.com/news-releases/cove-capital-investments-acquires-industrial-distribution-center-in-birmingham-al-to-complete-the-formation-of-its-cove-birmingham-industrial-dst-129-offering-302927212.html",
     "title": "Cove Capital Investments Acquires Industrial Distribution Center in Birmingham, AL to Complete the Formation of Its Cove Birmingham Industrial DST 129 Offering - PR Newswire",
     "type": "dividend"
    },
    {
     "category": null,
     "date": "2026-10-30",
     "source": "https://www.prnewswire.com/news-releases/gates-industrial-reports-third-quarter-2026-results-302924519.html",
     "title": "Gates Industrial Reports Third-Quarter 2026 Results - PR Newswire",
     "type": "newswire_release"
    },
    {
     "category": "research-channel",
     "date": "2026-10-29",
     "source": "https://www.eqs-news.com/news/research-channel/original-research-indus-holding-ag-von-nuways-ag-hold/5d57af35-8a9f-4a0d-9c0b-e8bf6d4feb6c_en",
     "title": "Original-Research: INDUS Holding AG (von NuWays AG): HOLD | Research - EQS News",
     "type": "corporate_news"
    },
    {
     "category": "corporate",
     "date": "2026-10-26",
     "source": "https://www.eqs-news.com/news/corporate/indus-strengthens-its-infrastructure-segment-with-a-specialist-in-concrete-solutions/8afca9b1-4e31-49a5-bcb8-274ef4231f60_en",
     "title": "INDUS strengthens its Infrastructure segment with a specialist in concrete solutions | Corporate - EQS News",
     "type": "corporate_news"
    },
    {
     "category": "corporate-news",
     "date": "2026-10-26",
     "source": "https://www.eqs-news.com/news/corporate-news/indus-staerkt-segment-infrastructure-mit-spezialisten-fuer-betonloesungen/8afca9b1-4e31-49a5-bcb8-274ef4231f60_de",
     "title": "INDUS stärkt Segment Infrastructure mit Spezialisten für ...",
     "type": "corporate_news"
    }
   ],
   "latest_filing_date": "2026-11-03",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.de-cm-kg.ai/events/XETRA/INH",
   "window": {
    "from": "2025-11-06",
    "to": "2026-11-06"
   }
  },
  "identity": {
   "exchange": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "Xetra"
   },
   "isin": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "confirmed",
    "value": "DE0006200108"
   },
   "jurisdiction": {
    "read_by": "GLEIF LEI record (LEI per the LEI column) (registeredAs)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://api.gleif.org/api/v1/lei-records/529900GE4O7ZOMRWR939",
    "state": "sourced",
    "value": "Germany (Handelsregister HRB)"
   },
   "lei": {
    "read_by": "GLEIF ISIN-to-LEI mapping file (daily), LEI by exact ISIN",
    "read_date": "2026-11-09",
    "read_date_basis": "the field",
    "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download (ISIN DE0006200108)",
    "state": "sourced",
    "value": "529900GE4O7ZOMRWR939"
   },
   "name": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "INDUS HOLDING AG"
   },
   "sector": {
    "market": "DE",
    "reason": "the Xetra instruments file carries index membership, not a sector classification",
    "state": "not_on_record"
   },
   "security_type": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "Corporate"
   },
   "segment": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "SDAX"
   },
   "ticker": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "INH"
   },
   "website": {
    "market": "DE",
    "state": "not_on_record"
   }
  },
  "licensed": {
   "columns": [
    "licensor",
    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "domicile_change": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "listing": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "name_change": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "segment_move": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "market": "DE",
  "node": "de-cm-kg",
  "numbers_hash": "sha256:15e002bfa775db1d019d6913cc9f234b99a85cdce2ed08ae658709aba5d9e791",
  "open_research": {
   "read_date": "2026-11-12",
   "rows": [
    {
     "date": "2026-08-13",
     "kind": "issuer-sponsored",
     "publisher": "NuWays",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://indus.eu/wp-content/uploads/20260813-NuWays-BUY-EUR-41.00-Post-26H1.pdf",
     "state": "sourced",
     "title": "Post 26H1"
    },
    {
     "date": "2026-07-30",
     "kind": "issuer-sponsored",
     "publisher": "mwb research",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://indus.eu/wp-content/uploads/20260730-mbw-Buy-43.00-EUR-INDUS-Holding-prelim-Q2-26-results.pdf",
     "state": "sourced",
     "title": "Substantial guidance upgrade driven by tungsten scarcity; BUY"
    },
    {
     "date": "2026-07-30",
     "kind": "issuer-sponsored",
     "publisher": "Parmantier & CIE. Research",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://indus.eu/wp-content/uploads/20260730-PARMANTIER_-BUY-TP-36.50-EUR-Forecast-ranges-raised-again.pdf",
     "state": "sourced",
     "title": "UPDATE ‘INDUSTRY’"
    }
   ],
   "state": "found"
  },
  "orderability": {
   "chapter_as_of": "2026-11-04",
   "client_categories": [
    "Professionelle Kunden",
    "Privatkunden",
    "Geeignete Gegenparteien"
   ],
   "outcomes": {
    "Geeignete Gegenparteien": {
     "determinable": true,
     "signal": "ACM-200"
    },
    "Privatkunden": {
     "determinable": true,
     "signal": "ACM-200"
    },
    "Professionelle Kunden": {
     "determinable": true,
     "signal": "ACM-200"
    }
   },
   "read": {
    "basis": "one live read per instrument class, halt state and client category on this market; this issuer's group",
    "chapter": "https://mcp.de-cm-kg.ai/book/aio.json",
    "door": "https://mcp.de-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "rule_version": "acm-68000/de/mifid-ii-product-governance-produkt-berwachung/r1",
   "section": "de.aio.v13"
  },
  "record": {
   "as_of": "2026-11-06",
   "url": "https://mcp.de-cm-kg.ai/record/XETRA/INH",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-09",
   "source": "https://www.cashmarket.deutsche-boerse.com/cash-en/Stay-Informed/current-regulatory-topics/mifid-ii-releases/4086638!suspension-list",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:15e002bfa775db1d019d6913cc9f234b99a85cdce2ed08ae658709aba5d9e791",
 "path": "/de/XETRA/INH",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is INDUS HOLDING AG, listed on Xetra under ticker INH, with ISIN DE0006200108 and LEI 529900GE4O7ZOMRWR939. Its security type is Corporate, its segment is SDAX, and its jurisdiction is Germany (Handelsregister HRB). The sector is not on the record. Its listing status is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 18 filings across 12 filing days in the window 2025-11-06 to 2026-11-06. The filings are 8 corporate news, 7 newswire releases, 2 results and 1 dividend. The median gap between filing days is 5 days. The latest filing is dated 2026-11-03, is of type dividend, and falls 3 days before the record date of 2026-11-06. The Xetra exchange peers on the record have a median of 6 filings, a median cadence gap of 22.8 days and a median latency of 5.5 days, across 419 issuers. The sector peer figures for DE are not on the record.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor of record is Messers Yousuf Adil, Chartered Accountants. Its location is not on the record. Auditor changes are not on the record, as this register has no lifecycle type map yet.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "Listing, delisting, name change, domicile change and segment move are not on the record, as this register has no lifecycle type map yet. The halt flag shows listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "The outcome is determinable for all three client categories the chapter names: Professionelle Kunden, Privatkunden and Geeignete Gegenparteien. Each carries signal ACM-200. The rule version is acm-68000/de/mifid-ii-product-governance-produkt-berwachung/r1, and the chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "The issuer's investor-relations page names 8 research houses: LBBW, METZLER Capital Markets, MPCM Research, mwb research, NuWays, ODDO BHF, Pareto and Parmantier.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "The record holds 3 openly published research notes: NuWays dated 2026-08-13, mwb research dated 2026-07-30, and Parmantier & CIE. Research dated 2026-07-30.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "The market's vintage is not sealed. No issuer years are sealed, the market's earliest sealed date is not on the record, and the live record began is not on the record.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "12 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares"
  },
  {
   "for": "identity.jurisdiction",
   "source": "https://api.gleif.org/api/v1/lei-records/529900GE4O7ZOMRWR939"
  },
  {
   "for": "identity.lei",
   "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.de-cm-kg.ai/events/XETRA/INH"
  },
  {
   "for": "the halt flag",
   "source": "https://www.cashmarket.deutsche-boerse.com/cash-en/Stay-Informed/current-regulatory-topics/mifid-ii-releases/4086638!suspension-list"
  },
  {
   "for": "the auditor",
   "source": "https://indus-group.com/wp-content/uploads/2025/10/SUTM-Annual-Accounts-June-30-2025.pdf"
  },
  {
   "for": "the orderability chapter",
   "source": "https://mcp.de-cm-kg.ai/book/aio.json"
  },
  {
   "for": "coverage",
   "source": "https://indus.eu/investors/share-coverage/"
  },
  {
   "for": "open research",
   "source": "https://indus.eu/wp-content/uploads/20260813-NuWays-BUY-EUR-41.00-Post-26H1.pdf"
  },
  {
   "for": "open research",
   "source": "https://indus.eu/wp-content/uploads/20260730-mbw-Buy-43.00-EUR-INDUS-Holding-prelim-Q2-26-results.pdf"
  },
  {
   "for": "open research",
   "source": "https://indus.eu/wp-content/uploads/20260730-PARMANTIER_-BUY-TP-36.50-EUR-Forecast-ranges-raised-again.pdf"
  },
  {
   "for": "the record",
   "source": "https://mcp.de-cm-kg.ai/record/XETRA/INH"
  }
 ],
 "title": "INDUS HOLDING AG (INH) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}