Innomet Advanced MaterialsShare price, financial results, shareholding and management

NSE Emerge · INNOMETMetal powders and tungsten alloysListed 18 Sept 2024IPO ₹100
innomet.net ↗Live price on NSE ↗ISIN INE0S1D01010 · Lot 600 shares · ₹1.95 lakh
₹325.35
+1.70% on the day
Close · 6 Nov 2026
Valuation
Market cap
₹436 cr
Stock P/E
277.5
Book value
₹32
Price to book
10.17
EV / operating profit
79.8
Market cap to sales
8.09
Returns and growth
ROCE · FY26
5.7%
ROE · FY26
3.7%
ROE, 3-year average
11.2%
Operating margin · FY26
10.4%
Sales growth, 3 years
32.2%
Profit growth, 3 years
-21.3%
Safety
Debt to equity
0.35
Borrowings
₹14.9 cr
Interest cover
3.8×
Cash from business / op. profit
165%
Debtor days
75
Pledged
0.00%
Ownership and share
Promoter holding
55.02%
Change in promoter holding
-1.70 pts
Shareholders
1,289
52-week high / low
₹327 / ₹63
Dividend yield
0.00%
Face value
₹10

Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.

Innomet Advanced Materials share price chart

₹325.35+148.83% 1 year

Close on 6 Nov 2026 · +1.72% on the day · Vol 90,600

Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.

Share price returns

To the close of 6 Nov 2026

1 month
+19.1%
3 months
+70.8%
6 months
+219.0%
1 year
+148.8%
Since IPO
+225.4%
Traded a day, 20 days
₹2.05 cr
Taken for delivery
95%

Business growth

Sales and net profit, from the reported results

SalesProfit
FY26 on FY25+66%-16%
3 years, a year+32%-21%
Latest half, H2 FY26+70%-375%

About Innomet Advanced Materials: business, products and customers

Innomet Advanced Materials makes metal powders for factories that press them into parts, and very heavy tungsten alloy pieces for defence, aerospace and radiation shielding. Its shares trade on NSE Emerge.

Innomet Advanced Materials runs two divisions from Hyderabad. Innomet Powders turns copper, bronze, brass, nickel, tin and other metals into powders by water and air atomisation, for parts makers, diamond tools, brazing, catalysts and coatings. Innotung presses and sinters tungsten heavy alloy into bars, plates, cubes, spheres and finished parts, including pre fragments for Pinaka rockets supplied to Solar Industries and an ordnance factory.

The company purchases the metal and supplies it back as powder or alloy, so revenue rises and falls with metal prices even when tonnes do not. It quotes each order for a short period and books the metal once the order comes, the Managing Director said; when tungsten and copper prices jumped within days in FY26, it was caught on some orders and margins fell. Powder orders come every month without blanket contracts, while alloy orders are large one off orders that take months to deliver, so the published order book leans to the alloy side.

Read more about the business

Powder customers named by the company include Hoganas, TVS Group and Atul, and exchange filings record a stream of powder orders since: Hoganas India on 8 October 2026, Enar Weld Braze on 9 October 2026, and on 13 October 2026 Federal-Mogul Goetze (India), a listed Indian company, for copper infiltrant worth ₹1.2 cr including tax, and New Metals and Chemicals Corporation of Tokyo, Japan, for copper manganese alloy powder, priced in US dollars. Alloy customers include HAL, BDL and Israeli defence firms reached through Scope Metals, its exclusive agent in Israel. In tungsten carbide, the Managing Director said a strong established maker, multinational companies and Chinese producers compete, while China's export curbs on tungsten have pushed buyers towards India.

What is new: AS 9100D aerospace certification for the alloy division, a DRDO funded clean powder project with IIT Hyderabad and DMRL, and Swastik Tungsten, a tungsten powder maker bought out of insolvency, which became a subsidiary on 25 September 2026.

From the offer document, the FY26 annual report, the June 2026 earnings call and the company's September and October 2026 exchange announcements, the latest of 13 October 2026.

Read the deeper study ↓

In its favour

  • Sales have grown fast: 32% a year over three years.
  • It brings in more cash than it shows as profit: ₹9.3 cr against ₹1.6 cr in FY26.

To watch

  • Delivery of the orders in hand within six months of June 2026, as the Managing Director said (Earnings call, June 2026, p.7).
  • The restart of the Swastik Tungsten plant at two to three tonnes a month, rising towards about ten (Annual report FY26, p.31).
  • Annual revenue of ₹100 cr, the company's stated milestone (Annual report FY26, p.6).
  • Gas atomised powder capacity of about 150 tonnes a year by the end of FY27 (Annual report FY26, p.32).
  • The issue of the 11,92,200 warrants approved at the AGM of 22 September 2026 (Exchange announcement, 8 October 2026, p.1).

From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.

Innomet Advanced Materials revenue and profit growth

Half-yearly results · Profit and loss

Sales have grown fast. Last year profit fell even as sales rose, so the company kept less from each rupee of sales.

Sales and net profit, every year, ₹ crore
SalesNet profit
0204060Sales, FY21: 12.3 ₹ cr12.3Net profit, FY21: 0.2 ₹ cr0.2FY21Sales, FY22: 22.2 ₹ cr22.2Net profit, FY22: 0.6 ₹ cr0.6FY22Sales, FY23: 23.3 ₹ cr23.3Net profit, FY23: 3.2 ₹ cr3.2FY23Sales, FY24: 24.9 ₹ cr24.9Net profit, FY24: 2.5 ₹ cr2.5FY24Sales, FY25: 32.5 ₹ cr32.5Net profit, FY25: 1.9 ₹ cr1.9FY25Sales, FY26: 53.9 ₹ cr53.9Net profit, FY26: 1.6 ₹ cr1.6FY26
The latest halves, ₹ crore
SalesNet profit
-10010203040Sales, H1FY24: 13.2 ₹ cr13.2Net profit, H1FY24: 0.7 ₹ cr0.7H1FY24Sales, H2FY24: 11.8 ₹ cr11.8Net profit, H2FY24: 1.9 ₹ cr1.9H2FY24Sales, H1FY25: 14.6 ₹ cr14.6Net profit, H1FY25: 1.7 ₹ cr1.7H1FY25Sales, H2FY25: 17.9 ₹ cr17.9Net profit, H2FY25: 0.2 ₹ cr0.2H2FY25Sales, H1FY26: 23.5 ₹ cr23.5Net profit, H1FY26: 2 ₹ cr2H1FY26Sales, H2FY26: 30.3 ₹ cr30.3Net profit, H2FY26: -0.4 ₹ cr-0.4H2FY26

SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.

Innomet Advanced Materials half-yearly results

SME companies report every six months · ₹ crore

₹ crore · growth on the same half a year before
H1FY24H2FY24H1FY25H2FY25H1FY26H2FY26
Sales13.1511.7514.6417.8823.5330.33
Expenses11.728.8311.2616.2019.2728.98
Operating profit1.432.923.381.684.261.35
OPM10.9%24.9%23.1%9.4%18.1%4.4%
Interest0.980.320.540.460.360.49
Depreciation0.190.190.651.191.281.39
Profit before tax0.842.432.210.402.70-0.29
Net profit0.651.871.710.162.02-0.44

Innomet Advanced Materials profit and loss

Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported

₹ crore
FY21FY22FY23FY24FY25FY26
Sales12.3022.1823.2924.9032.5253.86
Expenses11.1820.4917.5620.5427.4648.26
Operating profit1.121.695.734.365.065.61
OPM9.1%7.6%24.6%17.5%15.6%10.4%
Other income0.090.020.020.590.390.32
Interest0.710.840.951.3010.85
Depreciation0.300.320.440.391.842.67
Profit before tax0.200.554.363.262.612.41
Tax rate0.0%0.0%26.1%22.7%28.4%34.9%
Net profit0.200.553.222.521.871.57
EPS ₹0.530.955.552.651.641.22
Dividend payout0.0%0.0%0.0%0.0%0.0%0.0%

Innomet Advanced Materials profitability

Margins and returns on capital

Last year the company kept less from each rupee of sales than the year before. It earns a low return on the money it uses.

Operating margin, every year

Per cent of sales kept before interest, depreciation and tax

0%10%20%30%FY21: 9.1%9.1%FY21FY22: 7.6%7.6%FY22FY23: 24.6%24.6%FY23FY24: 17.5%17.5%FY24FY25: 15.6%15.6%FY25FY26: 10.4%10.4%FY26
Per cent
FY21FY22FY23FY24FY25FY26
Operating margin9.1%7.6%24.6%17.5%15.6%10.4%
Tax rate0.0%0.0%26.1%22.7%28.4%34.9%
ROCE·11.7%32.4%19.3%8.5%5.7%
ROE·18.1%59.4%23.1%6.7%3.7%
Dividend payout0.0%0.0%0.0%0.0%0.0%0.0%

Innomet Advanced Materials debt and cash flow

Balance sheet · Cash flow · Working capital

The company's own money, its net worth, has grown. Its loans are smaller than its own money. Last year the business brought in more cash than it showed as profit. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.

Its own money and its borrowings, ₹ crore
Net worthBorrowings
0204060Net worth, FY21: 2.3 ₹ cr2.3Borrowings, FY21: 7.9 ₹ cr7.9FY21Net worth, FY22: 3.8 ₹ cr3.8Borrowings, FY22: 9.8 ₹ cr9.8FY22Net worth, FY23: 7.1 ₹ cr7.1Borrowings, FY23: 12.1 ₹ cr12.1FY23Net worth, FY24: 14.7 ₹ cr14.7Borrowings, FY24: 13.3 ₹ cr13.3FY24Net worth, FY25: 41.3 ₹ cr41.3Borrowings, FY25: 15.2 ₹ cr15.2FY25Net worth, FY26: 42.9 ₹ cr42.9Borrowings, FY26: 14.9 ₹ cr14.9FY26
Cash from the business against net profit, ₹ crore
Cash from the businessNet profit
-20-10010Cash from the business, FY21: -0.1 ₹ cr-0.1Net profit, FY21: 0.2 ₹ cr0.2FY21Cash from the business, FY22: -0.2 ₹ cr-0.2Net profit, FY22: 0.6 ₹ cr0.6FY22Cash from the business, FY23: 3.5 ₹ cr3.5Net profit, FY23: 3.2 ₹ cr3.2FY23Cash from the business, FY24: 2.6 ₹ cr2.6Net profit, FY24: 2.5 ₹ cr2.5FY24Cash from the business, FY25: -18.5 ₹ cr-18.5Net profit, FY25: 1.9 ₹ cr1.9FY25Cash from the business, FY26: 9.3 ₹ cr9.3Net profit, FY26: 1.6 ₹ cr1.6FY26

Bars below the line are cash going out.

Innomet Advanced Materials balance sheet

At each 31 March · ₹ crore

₹ crore
FY21FY22FY23FY24FY25FY26
Equity capital1.882.882.889.5212.9412.94
Reserves0.420.914.185.2028.3829.96
Net worth2.303.797.0614.7241.3242.90
Borrowings7.879.8212.1013.3115.2314.92
Other liabilities2.242.283.415.994.544.10
Total liabilities12.4115.8922.5734.0261.0961.92
Fixed assets3.143.123.4415.4619.2021.59
Capital work in progress02.196.140.411.830.53
Investments0.060.100.17000
Other assets9.2110.4812.8218.1540.0639.80
Receivables····6.3611
Inventory····13.7613.65
Cash····0.122.76
Trade payables····3.191.69

Innomet Advanced Materials cash flow

₹ crore

₹ crore
FY21FY22FY23FY24FY25FY26
Cash from operations-0.13-0.183.532.62-18.479.26
Cash from investing-0.69-2.72-4.72-6.09-8.42-8.01
Cash from financing0.802.881.183.4726.991.39
Net cash flow-0.02-0.02-0.0100.102.64
Capital spending····03.79

Working capital

Days

Days
FY21FY22FY23FY24FY25FY26
Debtor days392624527175
Inventory days312181252262252131
Days payable824845695816
Cash conversion cycle269159231245265190
Working capital days74577695284143

Innomet Advanced Materials shareholding pattern

Promoters, FIIs, DIIs, HNIs and small holders

The promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders has grown a lot.

Promoters
55.02%
+0.22 pts since Sep 24
Foreign investors (FIIs)
2.28%
+1.25 pts since Sep 24
Indian institutions (DIIs)
3.33%
+2.76 pts since Sep 24
HNIs (over ₹2 lakh each)
4.37%
-5.10 pts since Sep 24
Small holders (up to ₹2 lakh)
17.51%
+7.19 pts since Sep 24
Companies and others
17.49%
-6.32 pts since Sep 24
Number of shareholders
1,289
799 in Sep 24

Innomet Advanced Materials shareholding pattern

Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.

Sep 24Mar 25Sep 25Mar 26Aug 26
Promoters54.80%56.43%56.43%56.72%55.02%
Foreign investors (FIIs)1.03%4.28%2.82%2.36%2.28%
Indian institutions (DIIs)0.57%1.02%1.65%3.38%3.33%
HNIs (over ₹2 lakh each)9.47%6.61%8.74%4.94%4.37%
Small holders (up to ₹2 lakh)10.32%11.81%12.99%16.58%17.51%
Companies and others23.81%19.85%17.37%16.02%17.49%
Number of shareholders7998459401,1741,289

The named holders are at 18 Aug 2026, beside 31 March 2026, each under the group the pattern files them in.

Innomet Advanced Materials study: the business from its own documents

Read from 10 of the company's own documents

Innomet Advanced Materials so far

From the company's own record

  1. 18 Sept 2024Listed on NSE Emerge at ₹100
  2. 10 Oct 2026An order announced
  3. 13 Oct 2026An order announced
  4. 13 Oct 2026An order announced
  5. 31 Aug 2026Promoters at 55.02%
  6. 6 Nov 2026Highest close since listing, ₹325.35

Innomet Advanced Materials key facts from the filings

Each figure with the document it comes from

Revenue
₹53.9 cr
Revenue from operations in FY26, up 66% from ₹32.5 cr in FY25.Annual report FY26, p.28
EBITDA margin
10.4%
Down from 15.6% in FY25, which the company puts down to tungsten and copper prices and spending on export marketing.Annual report FY26, p.28 and p.29
Order book
Over ₹45 cr
Built after FY26 closed; it counts only orders above about ₹50 to 60 lakh, not the monthly powder orders.Annual report FY26, p.6 and p.32; Earnings call, June 2026, p.9
Israel order
About ₹15 cr
A single tungsten alloy order from Scope Metals in May 2026, the company's exclusive agent in Israel.Annual report FY26, p.31
Exports
18.3%
Share of FY26 revenue, against 9.7% in FY25, to buyers in the United States, Israel, Japan and Europe.Annual report FY26, p.29
Show 5 more facts
Tungsten alloy share
24.6%
Share of FY26 revenue, ₹13.3 cr; metal powders gave the other ₹40.6 cr.Annual report FY26, p.29
Alloy capacity
About 60 tonnes a year
After a new furnace, up from about 18 tonnes a year; the Managing Director put use at about half.Annual report FY26, p.31; Earnings call, June 2026, p.7 and p.8
Powder plant use
40 to 42 of 50 tonnes
Monthly output against capability in June 2026, with a plan to go to 75 to 100 tonnes a month with a third shift.Earnings call, June 2026, p.7 and p.12
Swastik Tungsten
57.5% for ₹1.5 cr
Became a subsidiary on 25 September 2026; its plant, idle during insolvency, has about 120 tonnes a year of tungsten powder capacity.Exchange announcement, 25 September 2026, p.1, p.3 and p.4; Annual report FY26, p.31
Warrants
11,92,200
Equity share warrants to be issued on a preferential basis, approved by shareholders at the AGM of 22 September 2026; a practising company secretary certified the issue meets SEBI rules.Exchange announcements, 7 October 2026, p.1 and 8 October 2026, p.1

What the company said, and what happened

The company's own statements, attributed, set against what it later reported; not newboard's estimates

The company says it entered FY27 with an order book of over ₹45 cr, and the Managing Director said on the June 2026 call that the orders then in hand were to be delivered within six months. Asked whether FY27 growth could be 35% to 40%, the Managing Director answered much more than that. The company's stated milestone is annual revenue of ₹100 cr, which it says it aims to reach without significant new capital spending, and it expects Swastik Tungsten to start at two to three tonnes a month and work towards about ten.

Over ₹45 crOrder bookFY26 annual report
₹100 crRevenue milestoneFY26 annual report
6 monthsDelivery of orders in handJune 2026 call
What management saidWhenWhat happened
FY26 revenue growth of 25% to 30%Dec 2025 call66%, to ₹53.9 cr

Is it a good business? Six questions

Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.

Innomet Advanced Materials earns a processing margin on metal it turns into specialty powders and dense tungsten alloy parts, and the alloy and export side has been growing faster than the powder side.

Its weak spots are swings in metal prices, which it cannot always pass on in time, and a growing reliance on a few large alloy orders from abroad.

AverageCan it set its own prices?It prices each order off the metal cost of the day and passes metal prices through, but a sudden jump can catch it before the metal is booked.
The evidence. The Managing Director said metal is booked as soon as an order comes, but that in FY26 prices moved within days and the company was caught on some orders; the EBITDA margin fell to 10.4%.Earnings call, June 2026, p.8 and p.9; Annual report FY26, p.28
AverageHow strong is it against rivals?Its alloy business is a small, qualified niche with few Indian makers, while its powders compete on custom grades rather than scale.
The evidence. The annual report calls it India's first private sector maker of tungsten heavy alloy and says qualification is a barrier to entry; the powder division focuses on specialty grades rather than commodity volumes.Annual report FY26, p.4, p.30 and p.31
AverageWho are its customers?Powder buyers are many and spread out, but the alloy orders now in hand lean heavily on Israel through one agent.
The evidence. The company names more than 100 active customers; about 77% of the order book was from exports and a single Israeli order was about ₹15 cr.Earnings call, June 2026, p.2 and p.5; Annual report FY26, p.31
WatchDoes it need a lot of money?Metal sits in stock and in process for long periods, and higher metal prices tie up more money in each order.
The evidence. The annual report lists working capital as a key risk because stock must be held against orders; the CFO said work in progress is about 40% to 45% of inventory.Annual report FY26, p.33; Earnings call, December 2025, p.10
StrongCan it keep finding new work?Orders have built up quickly since the year end, helped by the aerospace certification and buyers looking beyond China for tungsten.
The evidence. The order book stood at over ₹45 cr after FY26 against FY26 revenue of ₹53.9 cr, and exports rose to 18.3% of revenue.Annual report FY26, p.5, p.6 and p.29
WatchDo good and bad years swing a lot?Profit moves with metal prices and with the timing of large defence and export orders.
The evidence. The annual report warns that defence and aerospace orders are project driven and uneven, and that tungsten rose from ₹3,850 to ₹18,000 a kg between April 2025 and March 2026.Annual report FY26, p.26, p.32 and p.33

Who runs Innomet Advanced Materials?

Promoters, directors and officers; tap a name for the background

VCVinay Choudary ChilakapatiPromoter, Chairman and Managing Director · holds 3.93%

A mechanical engineer with more than 15 years in the powder metal industry at the time of the offer. Started Prasad Innovations in 1999 to make diamond tools, began metal powder research in 2005, and took the family firm Padmasree Enterprises into tungsten heavy alloys for defence in 2012 before it became Innomet in 2019. The offer document states that Vinay Choudary Chilakapati is the son of Lakshmi Kanthamma Chilakapati and the husband of Saritha Devi Chilakapati.

Offer document, p.169, p.170 and p.171; Annual report FY26, p.9
SDSaritha Devi ChilakapatiPromoter, Whole Time Director and Chief Financial Officer · holds 25.18%

Holds an MBA in finance and had more than 20 years of work at the time of the offer, starting in Prasad Innovations and then Padmasree Enterprises, across purchase, costing, human resources, marketing and financial planning. On the board since the company was formed; looks after day to day finance.

Offer document, p.170; Annual report FY26, p.9
LKLakshmi Kanthamma ChilakapatiPromoter and Non Executive Director · holds 24.31%

The founding promoter and the first director at incorporation in April 2019. The offer document says the day to day affairs are run by the professional team headed by Vinay Choudary Chilakapati.

Offer document, p.170; Annual report FY26, p.9
SCSanjna Chowdary ChilakapatiAdditional Director (Non Executive, Non Independent)

Joined the board on 11 February 2026 and sits on the stakeholders' relationship and the nomination and remuneration committees.

Annual report FY26, p.9
BSBhanu Sankara Rao KotaIndependent Director

A metallurgical engineer with a PhD from the University of Madras; worked at the Indira Gandhi Centre for Atomic Research for about three decades, then as Professor and Dean at the University of Hyderabad, and is a Professor of Practice at IIT Hyderabad.

Offer document, p.171 and p.172
VBVenkata Bhaskara Rao ChadalavadaIndependent Director

On the board since August 2023, with a term to August 2028; chairs the audit committee.

Offer document, p.166; Annual report FY26, p.9

Innomet Advanced Materials latest news and announcements

Announcements · Documents · Corporate actions

What changed recently

Each half-year is set against the same half a year earlier

  • H2 FY26: sales ₹30.3 cr (+70%), net profit -₹0.4 cr (-375%) on H2 FY25.
  • Shareholding, 31 Aug 2026: promoters 56.72% to 55.02%.
  • 13 Oct 2026: an order announced.
  • 13 Oct 2026: an order announced.

Innomet Advanced Materials announcements

109 on record, latest first; each opens the filing on the exchange

Innomet Advanced Materials annual reports, earnings calls and documents

Every document links to its source; “read” marks those this page is built from

Innomet Advanced Materials share split, bonus and dividends

From the corporate actions the company announces on the exchange

No share split, bonus issue or dividend is on record since listing.

Checks we ran on Innomet Advanced Materials' data · 9

Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.

  • ✓Balance sheet totals add up for FY25 and FY26.
  • ✓Market cap uses the share count in the latest shareholding pattern (1,33,90,138 shares).
  • ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
  • ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
  • ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
  • ✓The two half-years of FY26 add up to the full-year sales.
  • ✓Earnings per share moves in line with profit across the years shown.
  • ✓Revenue and profit are reported for every year shown, FY21 to FY26.
  • iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.

Questions people ask about Innomet Advanced Materials

What does Innomet Advanced Materials do?

Innomet Advanced Materials makes metal powders for factories that press them into parts, and very heavy tungsten alloy pieces for defence, aerospace and radiation shielding. Its shares trade on NSE Emerge.

What is the share price of Innomet Advanced Materials?

₹325 at the close on 6 Nov 2026, from the exchange's daily figures.

What is the market cap of Innomet Advanced Materials?

₹436 cr at the close on 6 Nov 2026, on 1,33,90,138 shares.

What is the P/E of Innomet Advanced Materials?

277.5 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).

What are Innomet Advanced Materials' revenue and profit?

Revenue ₹54 cr and profit after tax ₹2 cr in FY26.

Who are the promoters of Innomet Advanced Materials?

Vinay Choudary Chilakapati, Saritha Devi Chilakapati, Lakshmi Kanthamma Chilakapati; promoters held 55.02% at 31 Aug 2026.

What was the IPO price of Innomet Advanced Materials?

₹100 a share; it listed on 18 Sept 2024.

What is Innomet Advanced Materials' website?

www.innomet.net

More SME companies like Innomet Advanced Materials

Other listed SME companies in diversified metals, the closest in size first, each read from its own documents.

Every listed SME company in Diversified Metals → · SME companies listed in 2024 →

Built from 3 earnings call transcripts, 3 investor presentations, 2 annual reports, 1 offer document, 1 result filing, 109 exchange announcements, 5 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.