Incap Ltd

Incap Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Incap Ltd

₹ 89.0 0.07%
29 May - close price
incapltd.com BSE: 517370
About

Incorporated in 1993, Incap Ltd deals in manufacturing and sale of Capacitors.[1]

Key Points

Business Overview:[1][2]
Incap was established with technical and financial collaboration from M/s. Lelon Electronics Corporation. The company is engaged in the business of manufacture and sale of aluminium electrolytic capacitors. The company also provides logistical support for transport of insulators from ports
to Power Grid Corporation of India Ltd project locations for Chinese suppliers.

Website BSE
  • Market Cap ₹ 45.7 Cr.
  • Current Price ₹ 89.0
  • High / Low ₹ 161 / 64.0
  • Stock P/E 134
  • Book Value ₹ 31.3
  • Dividend Yield 1.12 %
  • ROCE 4.36 %
  • ROE 2.11 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Debtor days have improved from 142 to 85.8 days.

Cons

  • Stock is trading at 2.85 times its book value
  • The company has delivered a poor sales growth of 8.66% over past five years.
  • Company has a low return on equity of 3.73% 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
5.76 4.88 6.62 3.91 3.96 4.66 7.09 16.89 4.94 9.97 6.23 7.28 8.19
6.32 4.66 6.13 3.58 4.39 4.31 6.48 16.42 4.67 9.46 5.73 7.10 8.16
Operating Profit -0.56 0.22 0.49 0.33 -0.43 0.35 0.61 0.47 0.27 0.51 0.50 0.18 0.03
OPM % -9.72% 4.51% 7.40% 8.44% -10.86% 7.51% 8.60% 2.78% 5.47% 5.12% 8.03% 2.47% 0.37%
0.88 0.06 0.04 -0.02 0.80 0.00 0.00 0.00 0.19 0.00 0.03 0.13 -0.03
Interest 0.05 0.05 0.06 0.13 -0.06 0.03 0.07 0.18 0.18 0.13 0.14 0.05 0.02
Depreciation 0.10 0.08 0.08 0.08 0.15 0.09 0.09 0.09 0.11 0.08 0.17 0.13 0.13
Profit before tax 0.17 0.15 0.39 0.10 0.28 0.23 0.45 0.20 0.17 0.30 0.22 0.13 -0.15
Tax % 135.29% 0.00% 0.00% 0.00% 89.29% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 113.33%
-0.05 0.15 0.39 0.10 0.02 0.23 0.45 0.20 0.17 0.30 0.22 0.14 -0.32
EPS in Rs -0.10 0.29 0.76 0.19 0.04 0.45 0.88 0.39 0.33 0.58 0.43 0.27 -0.62
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
46.00 30.06 28.57 28.37 20.58 38.33 20.91 23.16 21.06 19.36 33.58 31.67
42.95 26.81 24.66 25.01 19.42 37.61 20.80 22.54 20.59 18.74 31.85 30.47
Operating Profit 3.05 3.25 3.91 3.36 1.16 0.72 0.11 0.62 0.47 0.62 1.73 1.20
OPM % 6.63% 10.81% 13.69% 11.84% 5.64% 1.88% 0.53% 2.68% 2.23% 3.20% 5.15% 3.79%
1.19 0.35 0.38 1.05 1.05 0.89 1.22 1.18 1.02 0.88 0.19 0.14
Interest 0.60 0.71 0.44 0.15 0.39 0.56 0.18 0.20 0.21 0.20 0.49 0.33
Depreciation 0.56 0.38 0.30 0.37 0.45 0.46 0.47 0.44 0.39 0.38 0.38 0.50
Profit before tax 3.08 2.51 3.55 3.89 1.37 0.59 0.68 1.16 0.89 0.92 1.05 0.51
Tax % 36.04% 38.65% 33.52% 26.74% 29.20% 27.12% 13.24% 31.03% 25.84% 27.17% 23.81% 33.33%
1.98 1.53 2.36 2.85 0.97 0.44 0.58 0.80 0.66 0.67 0.80 0.34
EPS in Rs 3.86 2.98 4.60 5.55 1.89 0.86 1.13 1.56 1.29 1.31 1.56 0.66
Dividend Payout % 25.91% 33.53% 21.74% 18.00% 52.89% 0.00% 88.45% 64.12% 77.73% 76.57% 64.12% 0.00%
Compounded Sales Growth
10 Years: 1%
5 Years: 9%
3 Years: 15%
TTM: -6%
Compounded Profit Growth
10 Years: -14%
5 Years: -8%
3 Years: -18%
TTM: -58%
Stock Price CAGR
10 Years: 12%
5 Years: 30%
3 Years: 37%
1 Year: -1%
Return on Equity
10 Years: 7%
5 Years: 4%
3 Years: 4%
Last Year: 2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 5.13 5.13 5.13 5.13 5.13 5.13 5.13 5.13 5.13 5.13 5.13 5.13
Reserves 4.76 5.68 7.42 9.65 9.98 10.22 10.35 10.69 10.84 10.94 11.11 10.92
4.66 1.37 0.15 0.41 0.88 0.68 1.83 1.88 1.19 2.75 5.39 0.81
20.50 8.69 6.52 7.20 8.58 19.37 19.04 11.64 10.93 8.61 8.31 10.77
Total Liabilities 35.05 20.87 19.22 22.39 24.57 35.40 36.35 29.34 28.09 27.43 29.94 27.63
5.25 5.49 4.28 4.47 4.95 4.65 4.19 3.49 3.67 3.43 7.33 6.84
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.00 0.00 0.00 0.00 2.00 2.00 2.00 2.00 2.21 2.21 2.57 2.57
29.80 15.38 14.94 17.92 17.62 28.75 30.16 23.85 22.21 21.79 20.04 18.22
Total Assets 35.05 20.87 19.22 22.39 24.57 35.40 36.35 29.34 28.09 27.43 29.94 27.63

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-2.03 1.71 5.30 3.62 -1.76 10.81 2.84 -3.83 -1.04 -6.06 -2.11
-0.25 -0.32 1.26 0.09 -2.42 0.71 0.86 1.43 0.23 0.67 -4.63
2.03 -4.52 -2.41 -0.50 -0.47 -0.70 0.49 -0.63 -1.38 0.87 1.67
Net Cash Flow -0.25 -3.12 4.16 3.21 -4.65 10.82 4.19 -3.02 -2.19 -4.52 -5.07
Free Cash Flow -3.35 1.05 6.31 3.05 -2.69 10.66 2.82 -3.40 -1.54 -6.19 -6.39
CFO/OP -101% 25% 161% 141% -136% 1,522% 2,745% -568% -172% -937% -106%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 102.28 103.09 79.98 80.41 88.32 67.99 129.87 81.01 107.80 184.95 154.35 85.75
Inventory Days 152.58 109.52 71.58 63.81 95.52 53.05 76.45 67.45 60.93 81.02 31.06 87.83
Days Payable 53.10 65.76 105.71 129.56 192.49 640.07 602.23 290.83 275.87 195.91 86.54 81.14
Cash Conversion Cycle 201.76 146.85 45.85 14.66 -8.64 -519.03 -395.92 -142.37 -107.14 70.06 98.87 92.44
Working Capital Days 13.81 66.66 39.09 26.50 1.60 -85.80 -132.49 -55.47 -33.10 53.17 45.33 50.48
ROCE % 30.00% 24.09% 31.27% 28.97% 11.29% 7.18% 4.62% 6.80% 5.91% 6.17% 7.61% 4.36%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2020 Mar 2024 Mar 2025
Actual Production - Aluminium Electrolytic Capacitors
Million Pieces

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Installed Capacity - Aluminium Electrolytic Capacitors
Million Pieces
Sales Quantity - Aluminium Electrolytic Capacitors
Million Pieces
Indian Industry Output - Electrolytic Capacitors
Million Pieces
Total Indian Demand - Electrolytic Capacitors
Billion Pieces
Actual Production - Silicon Rubber Insulators
Million Pieces
Installed Capacity - Silicon Rubber Insulators
Million Pieces
Sales Quantity - Silicon Rubber Insulators
Million Pieces

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
66.73% 66.82% 66.89% 66.91% 66.91% 66.91% 66.91% 66.91% 66.91% 66.91% 66.91% 66.91%
33.27% 33.18% 33.10% 33.08% 33.08% 33.08% 33.08% 33.08% 33.08% 33.09% 33.09% 33.10%
No. of Shareholders 2,7292,9242,9393,4103,3873,4403,4813,4803,3463,4503,3753,333

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