Indian Card Clothing Company Ltd

₹ 276 1.60%

26 Apr 9:56 a.m.

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 ₹ 164 Cr.
Current Price ₹ 276
High / Low ₹ 353 / 205
Stock P/E 17.8
Book Value ₹ 414
Dividend Yield 0.00 %
ROCE 1.22 %
ROE 1.44 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.66 times its book value
Company has delivered good profit growth of 21.8% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 138%

Cons

The company has delivered a poor sales growth of -1.56% over past five years.
Company has a low return on equity of 0.29% over last 3 years.
Earnings include an other income of Rs.18.9 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

Sector: Textiles Industry: Textile Machinery

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	14.84	17.49	15.00	16.63	17.11	18.17	16.77	17.21	17.12	15.01	15.04	15.51	12.63
	14.17	16.21	14.70	16.06	16.53	18.00	16.78	17.11	16.09	15.00	14.76	15.28	15.37
Operating Profit	0.67	1.28	0.30	0.57	0.58	0.17	-0.01	0.10	1.03	0.01	0.28	0.23	-2.74
OPM %	4.51%	7.32%	2.00%	3.43%	3.39%	0.94%	-0.06%	0.58%	6.02%	0.07%	1.86%	1.48%	-21.69%
	1.56	1.13	0.26	0.43	1.09	224.38	1.78	1.85	3.53	2.76	3.42	8.00	4.71
Interest	0.31	0.48	0.57	0.36	0.39	0.71	0.51	0.52	0.56	0.55	0.44	0.65	0.46
Depreciation	1.01	1.20	1.04	1.07	1.14	1.26	1.14	1.20	1.30	1.33	1.17	1.21	1.54
Profit before tax	0.91	0.73	-1.05	-0.43	0.14	222.58	0.12	0.23	2.70	0.89	2.09	6.37	-0.03
Tax %	21.98%	21.92%	-17.14%	-55.81%	0.00%	13.53%	175.00%	56.52%	-24.81%	58.43%	13.88%	13.19%	-2,666.67%
	0.71	0.58	-1.24	-0.66	0.13	192.45	-0.08	0.11	3.37	0.36	1.80	5.54	-0.83
EPS in Rs	1.25	0.96	-2.09	-1.11	0.50	324.06	-0.22	0.12	5.67	0.61	3.03	9.32	-1.40
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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
	82.28	74.28	74.04	85.09	79.13	64.53	71.52	57.61	61.31	53.98	66.51	66.11	58.19
	65.23	64.75	75.62	79.46	74.85	68.71	79.17	73.49	63.25	53.41	64.90	65.00	60.41
Operating Profit	17.05	9.53	-1.58	5.63	4.28	-4.18	-7.65	-15.88	-1.94	0.57	1.61	1.11	-2.22
OPM %	20.72%	12.83%	-2.13%	6.62%	5.41%	-6.48%	-10.70%	-27.56%	-3.16%	1.06%	2.42%	1.68%	-3.82%
	6.16	2.58	14.20	2.88	30.40	23.92	-7.46	3.17	4.80	3.45	226.16	9.94	18.89
Interest	1.31	1.19	1.60	1.20	0.93	1.88	2.45	2.62	2.80	1.73	2.03	2.14	2.10
Depreciation	5.53	5.69	7.75	10.48	7.75	6.30	5.44	4.30	4.20	4.11	4.52	7.62	5.25
Profit before tax	16.37	5.23	3.27	-3.17	26.00	11.56	-23.00	-19.63	-4.14	-1.82	221.22	1.29	9.32
Tax %	27.06%	49.33%	23.55%	13.56%	17.73%	25.52%	21.13%	-4.43%	-23.19%	-34.62%	13.81%	14.73%
	11.94	2.65	2.51	-2.74	21.39	8.60	-18.15	-20.49	-5.10	-2.44	190.67	3.75	6.87
EPS in Rs	25.69	5.95	5.71	-6.28	39.68	19.05	-40.06	-45.13	-11.12	-3.87	321.37	6.16	11.56
Dividend Payout %	48.65%	58.76%	52.50%	-39.77%	36.53%	62.98%	0.00%	0.00%	0.00%	0.00%	7.78%	405.74%

Compounded Sales Growth
10 Years:	-1%
5 Years:	-2%
3 Years:	3%
TTM:	-16%

Compounded Profit Growth
10 Years:	5%
5 Years:	22%
3 Years:	35%
TTM:	70%

Stock Price CAGR
10 Years:	10%
5 Years:	18%
3 Years:	29%
1 Year:	10%

Return on Equity
10 Years:	-4%
5 Years:	-4%
3 Years:	0%
Last Year:	1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	4.55	4.55	4.55	4.55	4.55	4.55	4.55	4.55	4.55	5.94	5.94	5.94	5.94
Reserves	87.60	89.60	90.81	86.51	96.69	99.70	80.00	59.24	54.31	65.56	256.51	232.53	239.82
	11.61	16.78	15.43	14.40	7.69	11.74	12.16	12.68	17.65	21.81	19.19	20.87	22.88
	30.25	34.27	31.48	28.26	41.38	32.14	54.13	34.29	23.72	21.12	19.78	21.99	22.07
Total Liabilities	134.01	145.20	142.27	133.72	150.31	148.13	150.84	110.76	100.23	114.43	301.42	281.33	290.71
	59.47	59.94	67.97	60.91	46.04	41.93	37.14	34.29	32.64	41.96	50.54	48.54	52.56
CWIP	3.21	17.72	4.05	3.30	3.27	1.62	0.56	0.39	0.61	0.36	0.04	0.56	0.42
Investments	29.18	26.37	27.15	25.10	50.34	63.03	64.54	27.00	15.09	7.77	30.42	149.82	184.45
	42.15	41.17	43.10	44.41	50.66	41.55	48.60	49.08	51.89	64.34	220.42	82.41	53.28
Total Assets	134.01	145.20	142.27	133.72	150.31	148.13	150.84	110.76	100.23	114.43	301.42	281.33	290.71

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	-5.16	3.84	6.07	6.22	23.65	-13.93	0.16	-34.54	-11.47	-2.04	-0.09	2.96
	8.81	-10.75	2.25	-1.30	0.57	20.12	1.88	36.07	13.02	-1.95	166.76	-120.93
	-4.65	6.84	-6.58	-3.99	-15.32	-17.48	-1.73	-0.88	2.38	17.07	-4.59	-30.84
Net Cash Flow	-1.00	-0.07	1.74	0.93	8.91	-11.29	0.30	0.65	3.94	13.08	162.08	-148.81

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	60.24	64.03	78.97	54.86	55.03	66.91	66.86	69.88	66.68	78.71	74.96	85.52
Inventory Days	247.42	309.27	209.25	216.24	193.48	292.35	264.91	263.64	231.39	237.07	154.30	212.82
Days Payable	78.18	123.48	79.51	53.58	128.75	177.53	216.86	169.73	153.30	147.12	116.85	178.52
Cash Conversion Cycle	229.48	249.81	208.72	217.53	119.76	181.73	114.90	163.79	144.76	168.66	112.41	119.82
Working Capital Days	71.42	79.65	85.19	75.32	15.45	72.51	-13.68	78.69	84.06	92.97	83.58	73.38
ROCE %	12.61%	4.82%	0.66%	-2.76%	-1.17%	-5.32%	-6.83%	-18.96%	-5.53%	-0.62%	1.37%	1.22%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.25%	0.26%
	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%	32.64%	32.64%	32.64%	32.64%	32.64%	32.65%	32.39%	32.39%	32.39%
No. of Shareholders	7,919	7,892	7,620	7,345	8,673	9,891	9,957	10,011	9,660	9,978	10,510	10,800

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	57.35%	57.35%	57.35%	57.35%	57.35%	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%
	0.05%	0.05%	0.04%	0.04%	0.04%	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%
No. of Shareholders	9,747	10,094	9,201	8,914	8,325	7,851	7,345	10,011	10,800

* 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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