International Conveyors Ltd

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

₹ 77.9 -0.78%
13 Nov - close price
iclbelting.com BSE: 509709 NSE: INTLCONV
About

Incorporated in 1973, International Conveyors
Ltd is engaged in the manufacturing of Conveyor Belting[1]

Key Points

Business Overview:[1][2][3]
ICL is an ISO 9001:2015-certified company and India’s only listed player in PVC Conveyor Belting, a critical consumable for high-growth sectors like mining and bulk transportation of materials such as coal, potash, and salt.
- The company specializes in solid woven conveyor belting for both underground and above-ground applications.
- Its in-house design team manages the entire process, from preliminary system designs involving power and tension calculations to detailed design.
- In addition to its core manufacturing operations, ICL also engages in the trading of steel cord conveyor belts and fasteners.
- The company has a treasury segment that focuses on investments in equity instruments, inter-corporate deposits, and mutual funds.

Website BSE NSE
  • Market Cap ₹ 493 Cr.
  • Current Price ₹ 77.9
  • High / Low ₹ 96.2 / 59.8
  • Stock P/E 3.62
  • Book Value ₹ 66.5
  • Dividend Yield 0.64 %
  • ROCE 22.0 %
  • ROE 18.7 %
  • Face Value ₹ 1.00
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Pros

  • Stock is trading at 1.17 times its book value
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 34.7% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 4.72% over past five years.
  • Earnings include an other income of Rs.140 Cr.
  • Working capital days have increased from 118 days to 173 days

* 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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Part of BSE Industrials

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
43 43 23 26 40 31 26 55 35 45 35 97 35
37 33 19 24 35 26 26 44 30 34 30 78 28
Operating Profit 6 9 4 2 6 5 0 11 5 11 5 19 7
OPM % 14% 22% 16% 8% 14% 16% 1.5% 19% 15% 24% 15% 19% 20%
14 22 23 8 42 32 29 1 66 -32 36 -10 147
Interest 2 2 2 2 3 2 2 2 2 3 2 2 2
Depreciation 0 0 0 1 0 0 0 0 0 0 0 0 0
Profit before tax 18 28 24 8 45 34 28 10 69 -25 39 6 152
Tax % 20% 19% 18% 21% 29% 22% 27% -34% 25% -29% 23% 33% 21%
14 23 19 6 32 27 20 13 52 -17 30 4 120
EPS in Rs 2.23 3.61 3.05 0.96 5.03 4.23 3.16 2.06 8.22 -2.74 4.65 0.63 18.79
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
96 84 60 56 86 99 169 205 215 134 152 213 213
91 86 54 59 86 88 149 186 186 113 130 173 171
Operating Profit 5 -2 6 -3 -0 11 20 20 29 21 21 40 42
OPM % 5% -2.0% 10% -4.5% -0.3% 11% 12% 10% 14% 16% 14% 19% 20%
4 6 8 8 9 4 9 14 14 67 105 59 140
Interest 5 6 6 7 10 10 5 4 4 9 8 8 8
Depreciation 5 3 3 3 2 2 2 2 2 2 2 2 2
Profit before tax -1 -5 5 -4 -4 3 22 27 37 77 116 89 172
Tax % 269% -13% 34% 46% 41% -98% 25% 40% 23% 19% 21% 23%
-3 -4 3 -7 -6 6 17 16 29 62 92 68 136
EPS in Rs -0.44 -0.66 0.49 -1.10 -0.85 0.94 2.46 2.40 4.36 9.84 14.47 10.72 21.33
Dividend Payout % -57% -8% 10% -5% -6% 21% 41% 42% 25% 11% 5% 5%
Compounded Sales Growth
10 Years: 10%
5 Years: 5%
3 Years: 0%
TTM: 45%
Compounded Profit Growth
10 Years: 34%
5 Years: 35%
3 Years: 38%
TTM: 22%
Stock Price CAGR
10 Years: 17%
5 Years: 4%
3 Years: 0%
1 Year: -17%
Return on Equity
10 Years: 13%
5 Years: 19%
3 Years: 22%
Last Year: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 7 7 7 7 7 7 7 7 6 6 6 6
Reserves 68 62 117 143 140 116 147 210 209 267 355 418
58 58 40 65 102 63 46 20 65 125 86 73
24 11 11 15 18 22 28 69 31 42 60 71
Total Liabilities 157 138 176 230 266 207 228 305 311 439 508 569
24 23 21 19 17 15 17 17 16 15 14 15
CWIP 3 1 1 1 1 1 0 0 0 0 0 0
Investments 42 42 101 143 170 102 147 119 157 252 299 328
88 71 52 67 78 89 64 168 138 172 195 226
Total Assets 157 138 176 230 266 207 228 305 311 439 508 569

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
9 12 16 -14 5 3 49 37 4 12 15 35
-8 -3 7 -4 -32 46 -26 1 -18 -48 43 -5
-3 -8 -24 18 26 -49 -24 -37 15 34 -54 -25
Net Cash Flow -2 1 -1 0 -1 0 -0 0 0 -1 4 4
Free Cash Flow 7 11 15 -14 -8 3 47 34 3 11 15 31
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 217% -753% 269% 513% -2,264% 35% 270% 231% 42% 87% 102% 120%

Ratios

Consolidated / View Standalone

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 96 69 50 141 110 107 36 45 29 56 47 45
Inventory Days 159 128 198 138 74 220 90 88 71 161 85 84
Days Payable 93 51 75 128 80 108 77 111 69 113 103 87
Cash Conversion Cycle 162 146 173 151 104 220 50 22 31 105 30 42
Working Capital Days -14 -37 -19 -131 -253 -57 -40 130 47 25 155 173
ROCE % 3% 0% 7% 1% 3% 7% 14% 14% 16% 24% 27% 22%

Insights

In beta
Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Production Volume
meters

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Export Revenue Share
% of conveyor belt sales ・Standalone data
Installed Capacity
meters per annum
Order Book
Rs Crore ・Standalone data
Domestic Market Share in India for PVC Conveyor Belts
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
69.18% 68.60% 68.61% 68.61% 68.60% 69.13% 69.98% 70.07% 69.65% 69.86% 70.23% 70.45%
0.01% 0.04% 0.01% 0.01% 0.00% 0.02% 0.16% 0.19% 0.37% 0.85% 0.62% 0.47%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.53% 0.52% 0.54% 0.52% 0.04%
30.80% 31.35% 31.39% 31.38% 31.40% 30.85% 29.85% 29.20% 29.45% 28.74% 28.62% 29.05%
No. of Shareholders 29,52240,01938,46047,56144,22342,92040,87237,78135,20833,73032,93532,166

* 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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