IC Electricals Company Ltd.

•

icelectricals.inBSE: -NSE: ICELCO

Market Cap₹ 212 Cr.

Current Price

High / Low₹ 183 / 113

Stock P/E15.1

Book Value₹ 39

Price to Book3.08

Dividend Yield0.00 %

ROCE21.8 %

ROE23.9 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Manufacturing: 59.1% • Contract: 40.9%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 20.2%
Operating margins have improved to 18.8% from 9.4%
Attractively priced for its growth - PEG of 0.2

CONS

Operating cash flow has been negative in recent years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.76x)
Equity base is being diluted - shares outstanding up 248.6%
Free cash flow has been persistently negative
Contingent liabilities are large at 74.3% of net worth
Total debt has risen sharply - up 37.0% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsElectricalsElectronics - Components

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SYRMA	1634.40	85.62	31516.21	0.09	105.69	111.72	1588.62	68.29	17.70	10.17
2.	KAYNES	3601.80	69.84	24144.54	0.00	56.43	-24.37	946.02	40.47	13.38	15.60
3.	AVALON	2355.35	117.91	15753.12	0.00	34.87	145.31	484.41	49.83	20.34	11.96
4.	UTLSOLAR	433.60	43.51	12805.48	0.00	577.94	—	13456.93	—	40.63	18.94
5.	CYIENTDLM	864.60	83.59	6863.49	0.00	16.29	118.21	373.80	34.25	10.41	9.93
6.	VIKRAMSOLR	165.85	16.84	6009.65	0.00	19.78	-85.17	1563.09	37.89	34.07	8.06
7.	SAATVIKGL	420.10	21.52	5339.68	0.00	5.36	-95.49	511.01	-44.20	55.18	6.62
8.	WEBELSOLAR	75.21	10.78	3265.34	0.33	77.79	—	372.60	115.39	63.74	33.70
9.	KERNEX	1769.85	15.59	2973.99	0.00	109.85	1382.00	503.58	800.38	23.69	32.33
10.	INA	92.72	10.21	2044.03	0.00	380.25	796.94	7406.98	1766.82	34.98	9.74
11.	MODINSULAT	423.30	21.19	1995.60	0.00	29.60	94.43	188.30	33.19	10.53	16.89
12.	ICELCO	116.30	15.09	212.38	0.00	—	—	—	—	22.10	—

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

No standalone quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	96	99	121	144
	87	86	102	117
Operating Profit	9	13	19	27
OPM %	9.09%	13.22%	15.97%	18.75%
	0	0	0	1
Interest	6	7	7	8
Depreciation	1	0	0	1
Profit before Tax	3	6	12	19
Tax %	40.37%	23.35%	25.53%	25.51%
Net Profit	2	5	9	14
EPS	1.51	12.00	6.92	10.45
Dividend Payout %	0.00%	0.00%	0.00%	0.00%

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 15%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 100%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 20%
Last Year:: 24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	4	4	13	13
	25	29	38	52
	36	41	47	66
Trade Payables	43	50	34	37
	15	18	25	23
Total Liabilities	123	142	158	191
	3	3	3	3
	64	72	81	92
	0	42	34	42
	56	26	40	53
Total Assets	123	142	158	191

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4	-2	-8	-11
Cash from Investing	0	0	-0	-1
Cash from Financing	-4	1	9	12
	-1	0	0	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jul 2026
	60.94
	2.00
	6.95
Government	0.00
	30.11

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for ICELCO

Loading news…

🤖

AI Stock Analyst

IC Electricals Company Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

SYRMA

1634.40

85.62

31516.21

0.09

105.69

111.72

1588.62

68.29

17.70

10.17

KAYNES

3601.80

69.84

24144.54

0.00

56.43

-24.37

946.02

40.47

13.38

15.60

AVALON

2355.35

117.91

15753.12

0.00

34.87

145.31

484.41

49.83

20.34

11.96

UTLSOLAR

433.60

43.51

12805.48

0.00

577.94

—

13456.93

—

40.63

18.94

CYIENTDLM

864.60

83.59

6863.49

0.00

16.29

118.21

373.80

34.25

10.41

9.93

VIKRAMSOLR

165.85

16.84

6009.65

0.00

19.78

-85.17

1563.09

37.89

34.07

8.06

SAATVIKGL

420.10

21.52

5339.68

0.00

5.36

-95.49

511.01

-44.20

55.18

6.62

WEBELSOLAR

75.21

10.78

3265.34

0.33

77.79

—

372.60

115.39

63.74

33.70

KERNEX

1769.85

15.59

2973.99

0.00

109.85

1382.00

503.58

800.38

23.69

32.33

INA

92.72

10.21

2044.03

0.00

380.25

796.94

7406.98

1766.82

34.98

9.74

MODINSULAT

423.30

21.19

1995.60

0.00

29.60

94.43

188.30

33.19

10.53

16.89

ICELCO

116.30

15.09

212.38

0.00

—

22.10

—

Mar 2023

Mar 2024

Mar 2025

Mar 2026

121

144

102

117

Operating Profit

OPM %

9.09%

13.22%

15.97%

18.75%

Interest

Depreciation

Profit before Tax

Tax %

40.37%

23.35%

25.53%

25.51%

Net Profit

EPS

1.51

12.00

6.92

10.45

Dividend Payout %

0.00%

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Trade Payables

Total Liabilities

123

142

158

191

Total Assets

123

142

158

191

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-2

-8

-11

Cash from Investing

-0

-1

Cash from Financing

-4

-1

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jul 2026

60.94

2.00

6.95

Government

0.00

30.11

IC Electricals Company Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

IC Electricals Company Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI