International Conveyors Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Conveyor Beling: 95.0% • Trading Goods: 4.2% • Wind Energy: 0.8%
AI Sector View
AI GENERATEDCapital Goods
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.
PROS
- Company has delivered good profit growth of 70.5% CAGR over last 5 years
- Company has a healthy return on capital (ROCE) of 23.6%
- Company has a good return on equity (ROE) track record: 3 Years ROE 22.7%
- Latest quarter profit grew 130.1% YoY, showing strong momentum
- Company has consistently been profitable over the last 5 years
CONS
- A large part of profit comes from other income (90.3% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.17x)
- Working capital days have increased from 504 to 836 days
- Though reporting repeated profits, the company pays out little dividend (5.2%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHEL | 432.00 | 61.84 | 150425.14 | 0.32 | 376.71 | 182.70 | 7697.72 | 40.29 | 9.24 | 6.69 |
| INDOMIM | 1005.45 | 93.18 | 49717.58 | 0.59 | 2401.22 | — | 12187.42 | — | 24.48 | 33.36 |
| THERMAX | 3641.75 | 73.13 | 43393.75 | 0.55 | 21.79 | -85.61 | 2302.73 | 7.09 | 15.85 | 2.98 |
| HONAUT | 34123.10 | 54.75 | 30170.02 | 0.32 | 150.70 | 20.95 | 1204.40 | 1.80 | 17.04 | 14.32 |
| JYOTICNC | 1004.05 | 70.98 | 22834.42 | 0.00 | 571.40 | 700.06 | 5084.70 | 1139.66 | 21.34 | 21.40 |
| INOXINDIA | 2295.95 | 81.91 | 20875.34 | 0.09 | 58.07 | -4.98 | 370.79 | 9.18 | 33.54 | 20.46 |
| AZAD | 2773.25 | 128.87 | 17910.13 | 0.00 | 351.60 | 1094.62 | 1725.99 | 1159.00 | 12.04 | 37.29 |
| TRITURBINE | 561.25 | 53.05 | 17842.05 | 0.76 | 51.10 | -20.65 | 442.70 | 19.23 | 35.95 | 11.59 |
| TEGA | 1721.30 | 612.04 | 12931.73 | 0.12 | -1082.52 | -3163.59 | 17234.42 | 4739.88 | 8.37 | 3.27 |
| LLOYDSENGG | 80.63 | 55.91 | 12506.03 | 0.31 | 68.23 | -77.28 | 527.15 | 142.92 | 17.99 | 15.04 |
| KENNAMET | 4998.95 | 93.82 | 10986.81 | 0.00 | 31.50 | 11.31 | 267.30 | 12.55 | 18.99 | 17.51 |
| INTLCONV | 77.02 | 3.61 | 491.24 | 0.65 | 119.82 | 130.11 | 35.32 | -0.39 | 29.49 | 20.16 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 43 | 43 | 23 | 26 | 40 | 31 | 26 | 55 | 35 | 45 | 35 | 97 | 35 | |
| 37 | 33 | 19 | 24 | 35 | 26 | 26 | 44 | 30 | 34 | 30 | 78 | 31 | |
| Operating Profit | 6 | 9 | 4 | 2 | 6 | 5 | 0 | 11 | 5 | 11 | 5 | 19 | 5 |
| OPM % | 14.16% | 22.17% | 16.32% | 8.05% | 14.01% | 15.96% | 1.46% | 19.27% | 15.26% | 23.86% | 15.20% | 19.20% | 13.59% |
| 14 | 22 | 23 | 8 | 42 | 32 | 29 | 1 | 66 | -32 | 36 | -10 | 147 | |
| Interest | 2 | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 2 | 3 | 2 | 2 | 2 |
| Depreciation | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 18 | 28 | 24 | 8 | 45 | 34 | 28 | 10 | 69 | -25 | 39 | 6 | 152 |
| Tax % | 20.42% | 18.53% | 17.97% | 20.65% | 28.96% | 21.59% | 27.27% | -34.05% | 24.60% | 29.29% | 22.99% | 32.83% | 21.09% |
| Net Profit | 0 | 0 | 0 | 0 | 32 | 27 | 20 | 13 | 52 | -17 | 30 | 4 | 120 |
| 2.21 | 3.60 | 3.03 | 0.96 | 5.03 | 4.23 | 3.16 | 2.06 | 8.22 | -2.74 | 4.68 | 0.63 | 18.79 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 84 | 60 | 56 | 86 | 99 | 169 | 205 | 215 | 134 | 152 | 213 | |
| 86 | 54 | 59 | 86 | 92 | 149 | 186 | 187 | 113 | 130 | 173 | |
| Operating Profit | -2 | 6 | -3 | -0 | 7 | 20 | 20 | 28 | 21 | 21 | 40 |
| OPM % | -2.01% | 9.79% | -4.55% | -0.32% | 6.79% | 11.78% | 9.53% | 13.05% | 15.92% | 14.15% | 18.60% |
| 6 | 8 | 8 | 9 | 8 | 9 | 14 | 15 | 67 | 105 | 140 | |
| Interest | 6 | 6 | 7 | 10 | 10 | 5 | 4 | 4 | 9 | 8 | 8 |
| Depreciation | 3 | 3 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before Tax | -5 | 5 | -4 | -4 | 3 | 22 | 27 | 37 | 77 | 116 | 172 |
| Tax % | 12.71% | 33.58% | -46.24% | -41.27% | -97.58% | 25.38% | 39.52% | 22.73% | 19.01% | 21.12% | 20.75% |
| Net Profit | -4 | 3 | -6 | -6 | 6 | 17 | 16 | 29 | 62 | 92 | 136 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.46 | 2.40 | 4.28 | 9.84 | 14.47 | — |
| Dividend Payout % | -7.58% | 10.23% | -4.54% | -5.90% | 21.20% | 40.61% | 41.72% | 24.78% | 11.17% | 5.18% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 5%
- 5 Years:
- 9%
- 3 Years:
- -10%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 70%
- 3 Years:
- 78%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -3%
- 1 Year:
- -20%
RETURN ON EQUITY
- 10 Years:
- 8%
- 5 Years:
- 18%
- 3 Years:
- 23%
- Last Year:
- 29%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 6 | 6 | 6 |
| 62 | 117 | 143 | 140 | 116 | 146 | 207 | 207 | 266 | 354 | |
| 58 | 40 | 65 | 102 | 63 | 46 | 19 | 65 | 125 | 86 | |
| Trade Payables | 8 | 6 | 12 | 12 | 14 | 21 | 39 | 25 | 20 | 23 |
| 2 | 29 | 27 | 28 | 29 | 37 | 70 | 55 | 65 | 82 | |
| Total Liabilities | 136 | 199 | 253 | 288 | 228 | 256 | 342 | 358 | 482 | 552 |
| 23 | 21 | 19 | 17 | 15 | 17 | 17 | 16 | 15 | 14 | |
| Capital Work in Progress | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| 42 | 101 | 143 | 170 | 102 | 147 | 119 | 157 | 252 | 299 | |
| 19 | 16 | 13 | 11 | 28 | 24 | 31 | 25 | 29 | 19 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21 | 20 | |
| Cash & Bank | 4 | 2 | 2 | 2 | 2 | 2 | 2 | 11 | 3 | 9 |
| 47 | 57 | 75 | 87 | 80 | 66 | 172 | 149 | 162 | 191 | |
| Total Assets | 136 | 199 | 253 | 288 | 228 | 256 | 342 | 358 | 482 | 552 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 13 | 16 | -13 | 5 | 4 | 54 | 45 | 12 | 12 | 15 | |
| Cash from Investing | -3 | 7 | -4 | -32 | 46 | -26 | 1 | -18 | -48 | 43 |
| Cash from Financing | -8 | -24 | 18 | 26 | -49 | -24 | -37 | 15 | 34 | -54 |
| 1 | -1 | 0 | -1 | 0 | -0 | 0 | 0 | -1 | 4 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - International Conveyors Limited has informed the Exchange regarding 'Reconstitution of Stakeholders Relationship Committee'.
2026-09-03 - International Conveyors Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-02 - International Conveyors Limited has informed the Exchange regarding 'Communication To Members Of The Company On Deduction Of Tax At Source On Dividend Payable For FY 2025-26'.
2026-09-02 - International Conveyors Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026
2026-08-28 - International Conveyors Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-21 - International Conveyors Limited has informed the Exchange that Record date for the purpose of Dividend is 17-Sep-2026.
2026-08-15 - International Conveyors Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - International Conveyors Limited has informed the Exchange regarding re-appointment of Mr. Sunit Mehra as Independent Director of the company for a second term of five (5) consecutive years, w.e.f. September 25, 2026.
2026-08-14 - International Conveyors Limited has informed the Exchange regarding 'Pursuant to Regulation 31A of SEBI (LODR) regulation, 2015, we would like to inform that Board of Directors at its meeting held on August 14, 2026, have approved the request of Promoters for re-classification from "Promoter and Promoter Group" category to "Public" category.'.
News
Recent coverage and analyst commentary for INTLCONV
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