International Combustion (India) Ltd

Intl. Combustion Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

International Combustion (India) Ltd

₹ 405 -3.44%
12 Mar - close price
internationalcombustion.in BSE: 505737
About

Incorporated in 1936, International
Combustion (India) Ltd manufactures
and supply Heavy Engineering Equipment, Geared Motors and Gear Boxes and Dry Mix Mortars[1]

Key Points

Business Overview:[1]
ICL manufactures heavy-duty grinding mills, screening and feeding equipment, conveyors, bulk material handling equipment and industrial gearboxes, and geared motors, catering to steel, cement, fertilizer, chemical,
mining, and infrastructure industries. It also manufactures dry-mix mortars in collaboration with Cementos Capa.
Its units are in Nagpur, Kolkata, Aurangabad and Ajmer

Website BSE
  • Market Cap ₹ 96.8 Cr.
  • Current Price ₹ 405
  • High / Low ₹ 1,049 / 400
  • Stock P/E 29.1
  • Book Value ₹ 551
  • Dividend Yield 0.99 %
  • ROCE 11.6 %
  • ROE 10.1 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Stock is trading at 0.74 times its book value

Cons

  • Company has low interest coverage ratio.
  • Tax rate seems low
  • Company has a low return on equity of 12.2% over last 3 years.
  • Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Manufacturing Industrial Products

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
59.68 64.71 68.80 73.35 73.36 81.27 59.53 63.83 82.79 86.83 59.89 75.33 72.19
53.48 58.20 57.80 63.95 63.28 73.43 54.70 61.10 73.98 79.76 58.55 73.11 72.68
Operating Profit 6.20 6.51 11.00 9.40 10.08 7.84 4.83 2.73 8.81 7.07 1.34 2.22 -0.49
OPM % 10.39% 10.06% 15.99% 12.82% 13.74% 9.65% 8.11% 4.28% 10.64% 8.14% 2.24% 2.95% -0.68%
0.20 0.31 0.32 0.26 0.17 1.10 0.34 0.40 2.77 0.37 0.43 0.24 0.39
Interest 0.54 0.51 0.84 0.84 0.77 0.66 1.57 1.30 1.22 0.91 1.04 0.70 0.77
Depreciation 1.05 1.07 1.09 1.23 1.26 1.40 1.48 1.57 1.61 1.70 1.66 1.63 1.73
Profit before tax 4.81 5.24 9.39 7.59 8.22 6.88 2.12 0.26 8.75 4.83 -0.93 0.13 -2.60
Tax % 29.52% 33.59% 39.08% 33.86% 32.85% 46.22% 16.51% 19.23% 29.49% -40.58% 0.00% 15.38% 2.31%
3.40 3.48 5.72 5.02 5.51 3.70 1.77 0.21 6.17 6.79 -0.93 0.12 -2.65
EPS in Rs 14.22 14.56 23.93 21.00 23.05 15.48 7.40 0.88 25.81 28.41 -3.89 0.50 -11.09
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
99 89 93 109 108 134 124 110 169 223 297 293 294
95 85 92 105 105 124 121 111 158 205 258 270 284
Operating Profit 3 4 1 3 3 10 3 -1 11 17 38 23 10
OPM % 3% 4% 2% 3% 2% 7% 2% -1% 6% 8% 13% 8% 3%
2 2 2 8 3 2 2 1 1 1 2 4 1
Interest 1 1 1 4 4 3 3 2 2 2 3 5 3
Depreciation 4 5 4 5 5 5 5 4 5 4 5 6 7
Profit before tax 1 1 -2 3 -4 4 -3 -7 5 12 32 16 1
Tax % -19% -56% -71% 21% -35% 14% -41% -22% 21% 31% 38% 9%
1 1 -1 2 -2 4 -2 -5 4 8 20 15 3
EPS in Rs 3.35 4.10 -2.13 8.95 -9.83 14.89 -7.82 -21.63 17.36 34.77 83.46 62.54 13.93
Dividend Payout % 45% 37% 0% 0% 0% 7% 0% 0% 12% 9% 6% 6%
Compounded Sales Growth
10 Years: 13%
5 Years: 19%
3 Years: 20%
TTM: 2%
Compounded Profit Growth
10 Years: 41%
5 Years: 59%
3 Years: 46%
TTM: -65%
Stock Price CAGR
10 Years: 5%
5 Years: 17%
3 Years: -2%
1 Year: -54%
Return on Equity
10 Years: 4%
5 Years: 8%
3 Years: 12%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 2 2 2 2 2 2 2 2 2 2 2 2 2
Reserves 91 90 89 94 92 95 92 87 92 99 118 131 129
3 13 35 35 28 23 26 14 9 13 31 33 21
29 31 25 32 36 41 39 39 46 55 72 64 69
Total Liabilities 125 136 152 164 158 161 160 142 149 169 223 230 221
29 28 39 50 47 44 45 42 39 39 57 60 59
CWIP 1 1 6 1 0 0 0 0 0 4 3 0 1
Investments 22 26 25 31 25 22 18 15 11 11 9 12 13
73 81 82 83 86 95 96 86 98 115 154 158 149
Total Assets 125 136 152 164 158 161 160 142 149 169 223 230 221

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
6 -3 -6 11 7 5 -4 11 8 5 6 12
-1 -6 -15 -8 4 3 5 3 1 -9 -19 -8
-6 9 21 -4 -11 -8 -0 -14 -7 2 14 -5
Net Cash Flow -1 0 1 -0 -0 -0 1 -0 3 -3 1 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 125 161 162 130 131 111 113 97 77 76 83 90
Inventory Days 203 302 245 258 255 229 300 287 189 164 166 155
Days Payable 114 151 107 148 167 149 160 167 115 103 106 94
Cash Conversion Cycle 214 313 301 239 220 191 254 217 151 137 143 152
Working Capital Days 143 174 167 97 96 83 82 91 76 65 65 71
ROCE % -0% -0% -2% 5% 0% 6% -0% -4% 7% 13% 26% 12%

Insights

In beta
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Trade Receivables Turnover Ratio
Times

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Gross Current Assets (Working Capital Cycle)
Days
Number of Permanent Employees
Count

Shareholding Pattern

Numbers in percentages

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
52.80% 52.88% 52.88% 52.88% 52.88% 52.88% 52.88% 52.88% 52.88% 52.88% 52.88% 52.88%
0.01% 0.01% 0.01% 0.01% 0.01% 0.57% 0.61% 0.01% 0.01% 0.01% 0.01% 0.01%
47.18% 47.11% 47.10% 47.12% 47.11% 46.55% 46.52% 47.11% 47.11% 47.11% 47.11% 47.11%
No. of Shareholders 4,8615,0445,0995,3766,5316,7578,3258,5538,4838,4628,2068,032

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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