International Conveyors Ltd

₹ 87.8 0.02%

26 Apr 10:37 a.m.

iclbelting.com BSE: 509709 NSE : INTLCONV

About

Incorporated in 1973, International Conveyors Limited (ICL) is engaged in the manufacturing and marketing of solid woven PVC covered conveyor belts. These belts are fire retardant, antistatic and are mainly used in underground mines for transportation of minerals such as Coal & Potash ^[1]

Key Points

Leading Conveyor Belt Manufacturer^[1]
ICL is one of the largest manufacturers of solid woven belting in the world and has a complete product range with the ability to make conveyors up to 3150 kN/m (type 18 width in strength and belt widths up to 1800 mm)

Website BSE NSE

Market Cap ₹ 556 Cr.
Current Price ₹ 87.8
High / Low ₹ 125 / 52.1
Stock P/E 8.76
Book Value ₹ 42.2
Dividend Yield 1.25 %
ROCE 14.9 %
ROE 12.5 %
Face Value ₹ 1.00

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Pros

Company has delivered good profit growth of 57.9% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 37.3%

Cons

Promoter holding has decreased over last quarter: -0.58%
Company has a low return on equity of 10.2% over last 3 years.
Earnings include an other income of Rs.63.1 Cr.

* 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

Sector: Plantation & Plantation Products Industry: Miscellaneous

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	44	54	31	53	62	59	53	63	44	48	42	42	22
	33	50	26	52	55	53	48	54	36	40	35	33	19
Operating Profit	10	3	5	1	7	6	5	9	7	9	7	9	3
OPM %	23%	6%	17%	3%	12%	10%	9%	15%	17%	18%	16%	22%	13%
	2	3	1	2	5	5	3	3	3	4	14	21	23
Interest	1	1	1	1	2	1	1	1	2	1	2	3	2
Depreciation	0	1	0	1	0	1	1	1	1	1	0	0	0
Profit before tax	10	5	5	1	10	10	7	11	9	11	18	27	23
Tax %	20%	27%	-0%	74%	22%	73%	3%	26%	21%	30%	20%	19%	18%
	8	4	5	0	8	3	7	8	7	8	15	22	19
EPS in Rs	1.23	0.52	0.70	0.04	1.17	0.40	1.00	1.19	1.03	1.17	2.31	3.50	3.01
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	99	116	135	97	76	47	48	78	91	166	205	208	155
	84	96	114	85	72	42	49	79	82	146	185	178	127
Operating Profit	15	20	21	13	3	5	-0	-1	9	20	20	30	27
OPM %	15%	17%	16%	13%	4%	10%	-1%	-1%	10%	12%	10%	15%	18%
	10	3	2	3	4	7	7	9	8	8	13	14	63
Interest	6	4	5	5	6	6	7	10	10	5	5	4	8
Depreciation	5	5	6	5	3	3	2	2	2	2	2	2	2
Profit before tax	14	14	13	6	-2	3	-2	-4	5	21	26	37	80
Tax %	29%	29%	34%	31%	39%	51%	-76%	-41%	-61%	26%	40%	22%
	10	10	8	4	-1	1	-4	-6	8	15	16	29	64
EPS in Rs	1.52	1.52	1.24	0.63	-0.19	0.20	-0.54	-0.81	1.25	2.25	2.31	4.45	9.99
Dividend Payout %	16%	16%	20%	39%	-26%	25%	-9%	-6%	16%	44%	43%	24%

Compounded Sales Growth
10 Years:	6%
5 Years:	34%
3 Years:	32%
TTM:	-29%

Compounded Profit Growth
10 Years:	11%
5 Years:	58%
3 Years:	63%
TTM:	161%

Stock Price CAGR
10 Years:	20%
5 Years:	25%
3 Years:	25%
1 Year:	52%

Return on Equity
10 Years:	5%
5 Years:	7%
3 Years:	10%
Last Year:	13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	7	7	7	7	7	7	7	7	7	7	7	6	6
Reserves	60	68	74	76	74	126	158	152	129	162	221	223	261
	52	44	55	58	56	40	65	102	66	49	23	68	124
	20	21	19	16	10	11	12	21	22	26	62	31	31
Total Liabilities	139	140	155	158	147	183	242	281	224	245	313	329	422
	18	14	28	23	22	20	18	16	14	16	16	15	14
CWIP	1	0	2	3	1	1	1	1	1	0	0	0	0
Investments	9	39	42	53	53	111	157	182	125	171	139	181	269
	111	86	82	79	71	52	67	82	83	58	157	133	139
Total Assets	139	140	155	158	147	183	242	281	224	245	313	329	422

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	9	8	23	11	13	20	-9	3	7	45	38	4
	-14	6	-25	-10	-3	1	-9	-29	39	-22	-0	-19
	5	-14	4	-3	-10	-22	18	26	-46	-24	-38	15
Net Cash Flow	-1	0	3	-3	-0	-0	-0	0	1	-1	-0	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	128	97	69	116	154	116	165	148	117	35	43	34
Inventory Days	88	143	88	111	95	177	131	78	232	92	79	68
Days Payable	97	103	71	90	58	80	116	114	141	77	109	73
Cash Conversion Cycle	119	137	86	137	191	213	180	112	208	50	13	30
Working Capital Days	207	183	118	193	245	305	376	210	170	53	159	157
ROCE %	17%	16%	14%	8%	2%	5%	2%	3%	6%	12%	13%	15%

Shareholding Pattern

Numbers in percentages

24 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	61.74%	63.44%	64.36%	65.97%	66.33%	66.33%	66.74%	67.95%	70.65%	70.65%	69.18%	68.60%
	17.70%	12.38%	10.36%	4.63%	3.18%	0.15%	0.05%	0.04%	0.07%	0.06%	0.01%	0.04%
	20.56%	24.18%	25.28%	29.40%	30.49%	33.52%	33.22%	32.01%	29.29%	29.28%	30.80%	31.35%
No. of Shareholders	4,189	7,694	9,819	19,119	19,775	20,940	20,330	19,091	17,942	21,104	29,522	40,019

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	37.39%	42.29%	47.29%	49.74%	61.74%	65.97%	67.95%	68.60%
	35.26%	33.92%	18.86%	20.49%	17.56%	4.63%	0.04%	0.04%
	3.56%	1.26%	1.26%	1.26%	0.00%	0.00%	0.00%	0.00%
	23.79%	22.53%	32.60%	28.51%	20.70%	29.40%	32.01%	31.35%
No. of Shareholders	1,851	1,816	1,834	1,742	1,811	19,119	19,091	40,019

* 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.

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