Indian Card Clothing Company Ltd

₹ 271 -1.74%

18 Sep - close price

cardindia.com BSE: 509692 NSE: INDIANCARD

About

Incorporated in1975, Indian Card Clothing Company is in the business of card clothing and real estate^[1]

Key Points

Business Overview:^[1]^[2]
Company supplies high speed card clothing sets. It manufactures card clothing and card room accessories for complete range of carding machines and supplies to textile mills across India and global markets. ICC trades in card clothing’s suitable for all types of fibres which require carding.
At present, Mauritius based, Multi Act Industrial Limited (MAIL) is the holding company of ICC with a stake of 67.33% in the equity share capital of the company. MAIL is promoted by Trivedi Family and a few other shareholders

Website BSE NSE

Market Cap ₹ 161 Cr.
Current Price ₹ 271
High / Low ₹ 452 / 215
Stock P/E 8.72
Book Value ₹ 569
Dividend Yield 0.00 %
ROCE 7.04 %
ROE 6.27 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 0.48 times its book value
Company has delivered good profit growth of 33.4% CAGR over last 5 years

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of -7.27% over past five years.
Tax rate seems low
Company has a low return on equity of 3.51% over last 3 years.
Earnings include an other income of Rs.49.9 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

Consumer Discretionary Textiles Textiles & Apparels Other Textile Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	16.77	17.21	17.12	15.01	15.04	15.51	12.63	12.27	10.02	11.23	10.56	10.22	9.65
	16.78	17.11	16.09	15.00	14.76	15.28	15.37	15.34	14.22	13.69	13.87	13.84	12.50
Operating Profit	-0.01	0.10	1.03	0.01	0.28	0.23	-2.74	-3.07	-4.20	-2.46	-3.31	-3.62	-2.85
OPM %	-0.06%	0.58%	6.02%	0.07%	1.86%	1.48%	-21.69%	-25.02%	-41.92%	-21.91%	-31.34%	-35.42%	-29.53%
	1.78	1.85	3.53	2.76	3.42	8.00	4.71	3.72	78.37	12.37	4.49	25.92	7.16
Interest	0.51	0.52	0.56	0.55	0.44	0.65	0.46	0.60	0.55	0.66	0.79	0.73	0.32
Depreciation	1.14	1.20	1.30	1.33	1.17	1.21	1.54	1.02	1.16	1.23	1.24	1.32	1.11
Profit before tax	0.12	0.23	2.70	0.89	2.09	6.37	-0.03	-0.97	72.46	8.02	-0.85	20.25	2.88
Tax %	175.00%	56.52%	-24.81%	58.43%	13.88%	13.19%	2,666.67%	-250.52%	7.77%	2.74%	-70.59%	13.68%	20.14%
	-0.08	0.11	3.37	0.36	1.80	5.54	-0.83	1.46	66.84	7.81	-0.25	17.48	2.29
EPS in Rs	-0.22	0.12	5.67	0.61	3.03	9.32	-1.40	2.46	112.50	13.15	-0.42	29.42	3.85
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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
	74	85	79	65	72	58	61	54	67	66	55	42	42
	76	79	75	69	79	73	63	53	65	65	60	56	54
Operating Profit	-2	6	4	-4	-8	-16	-2	1	2	1	-5	-14	-12
OPM %	-2%	7%	5%	-6%	-11%	-28%	-3%	1%	2%	2%	-9%	-32%	-29%
	14	3	30	24	-7	3	5	3	226	10	19	121	50
Interest	2	1	1	2	2	3	3	2	2	2	2	3	2
Depreciation	8	10	8	6	5	4	4	4	5	7	5	5	5
Profit before tax	3	-3	26	12	-23	-20	-4	-2	221	2	7	100	30
Tax %	24%	-14%	18%	26%	-21%	4%	23%	35%	14%	10%	-7%	8%
	3	-3	21	9	-18	-20	-5	-2	191	4	8	92	27
EPS in Rs	5.71	-6.28	39.68	19.05	-40.06	-45.13	-11.12	-3.87	321.37	6.16	13.42	154.63	46.00
Dividend Payout %	52%	-40%	37%	63%	0%	0%	0%	0%	8%	406%	0%	0%

Compounded Sales Growth
10 Years:	-7%
5 Years:	-7%
3 Years:	-14%
TTM:	-17%

Compounded Profit Growth
10 Years:	21%
5 Years:	33%
3 Years:	186%
TTM:	53%

Stock Price CAGR
10 Years:	6%
5 Years:	23%
3 Years:	7%
1 Year:	-4%

Return on Equity
10 Years:	-1%
5 Years:	3%
3 Years:	4%
Last Year:	6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5	5	5	5	5	5	5	6	6	6	6	6
Reserves	91	87	97	100	80	59	54	66	257	233	240	332
	15	14	8	12	12	13	18	22	19	21	25	17
	31	28	41	32	54	34	24	21	20	22	21	21
Total Liabilities	142	134	150	148	151	111	100	114	301	281	292	377
	68	61	46	42	37	34	33	42	51	49	35	34
CWIP	4	3	3	2	1	0	1	0	0	1	0	1
Investments	27	25	50	63	65	27	15	8	30	150	182	250
	43	44	51	42	49	49	52	64	220	82	74	93
Total Assets	142	134	150	148	151	111	100	114	301	281	292	377

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	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	6	24	-14	0	-35	-11	-2	-0	3	2	-17
	2	-1	1	20	2	36	13	-2	167	-121	-21	58
	-7	-4	-15	-17	-2	-1	2	17	-5	-31	-2	-12
Net Cash Flow	2	1	9	-11	0	1	4	13	162	-149	-21	28

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	79	55	55	67	67	70	67	79	75	86	74	75
Inventory Days	209	216	193	292	265	264	231	237	154	213	213	317
Days Payable	80	54	129	178	217	170	153	147	117	179	238	331
Cash Conversion Cycle	209	218	120	182	115	164	145	169	112	120	50	61
Working Capital Days	37	26	-12	19	-70	17	26	71	83	73	162	-49
ROCE %	1%	-3%	-1%	-5%	-7%	-19%	-6%	-1%	1%	1%	2%	7%

Shareholding Pattern

Numbers in percentages

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	67.33%	67.33%	67.33%	67.33%	67.33%	67.33%	67.33%	67.33%	67.33%	67.33%	67.33%	67.33%
	0.00%	0.00%	0.00%	0.00%	0.25%	0.25%	0.26%	0.25%	0.22%	0.22%	0.14%	0.14%
	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
	32.64%	32.64%	32.64%	32.65%	32.39%	32.39%	32.39%	32.39%	32.42%	32.42%	32.50%	32.51%
No. of Shareholders	9,891	9,957	10,011	9,660	9,978	10,510	10,800	10,502	10,296	10,481	10,249	10,292

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Jun 2025
	57.35%	57.35%	57.35%	57.35%	57.35%	67.33%	67.33%	67.33%	67.33%	67.33%	67.33%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.26%	0.14%	0.14%
	0.05%	0.05%	0.04%	0.04%	0.04%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
	42.60%	42.60%	42.60%	42.60%	42.60%	32.64%	32.64%	32.64%	32.39%	32.50%	32.51%
No. of Shareholders	9,747	10,094	9,201	8,914	8,325	7,851	7,345	10,011	10,800	10,249	10,292

* 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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Indian Card Clothing Company Ltd

Indian Card Clothing Company Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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