Ishan International Ltd
Incorporated in 1999, Ishan International Ltd is engaged in the business of contracting of machinery and engineering projects.[1]
- Market Cap ₹ 16.2 Cr.
- Current Price ₹ 0.75
- High / Low ₹ 2.15 / 0.75
- Stock P/E
- Book Value ₹ 1.05
- Dividend Yield 0.00 %
- ROCE 2.88 %
- ROE 0.91 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Stock is trading at 0.72 times its book value
- Debtor days have improved from 112 to 29.2 days.
- Promoter holding has increased by 1.02% over last quarter.
- Company's working capital requirements have reduced from 122 days to 66.7 days
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 2.10% over last 3 years.
- Promoter holding has decreased over last 3 years: -18.8%
* 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
Industrials Capital Goods Industrial Manufacturing Industrial Products
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 21.91 | 22.21 | 21.12 | 35.70 | 30.13 | 72.65 | 56.10 | |
| 21.75 | 21.57 | 18.71 | 34.37 | 29.92 | 72.56 | 56.31 | |
| Operating Profit | 0.16 | 0.64 | 2.41 | 1.33 | 0.21 | 0.09 | -0.21 |
| OPM % | 0.73% | 2.88% | 11.41% | 3.73% | 0.70% | 0.12% | -0.37% |
| 0.81 | 0.50 | 0.35 | 0.22 | 1.39 | 0.90 | 0.99 | |
| Interest | 0.51 | 0.88 | 0.87 | 0.72 | 0.59 | 0.55 | 0.47 |
| Depreciation | 0.08 | 0.06 | 0.05 | 0.18 | 0.16 | 0.15 | 0.20 |
| Profit before tax | 0.38 | 0.20 | 1.84 | 0.65 | 0.85 | 0.29 | 0.11 |
| Tax % | 26.32% | 25.00% | 32.07% | 20.00% | 31.76% | 24.14% | |
| 0.28 | 0.15 | 1.24 | 0.52 | 0.57 | 0.21 | -0.02 | |
| EPS in Rs | 0.07 | 0.04 | 0.08 | 0.02 | 0.03 | 0.01 | -0.01 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 51% |
| TTM: | 10% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -5% |
| 3 Years: | -47% |
| TTM: | -111% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -14% |
| 1 Year: | -64% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 4% |
| 3 Years: | 2% |
| Last Year: | 1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 1.34 | 1.34 | 4.93 | 7.21 | 21.62 | 21.62 | 21.62 |
| Reserves | 3.47 | 3.63 | 1.27 | 16.61 | 2.08 | 0.95 | 1.04 |
| 5.80 | 7.30 | 8.51 | 4.83 | 6.03 | 6.07 | 4.59 | |
| 6.43 | 2.25 | 6.98 | 6.40 | 68.45 | 41.13 | 23.52 | |
| Total Liabilities | 17.04 | 14.52 | 21.69 | 35.05 | 98.18 | 69.77 | 50.77 |
| 0.22 | 0.16 | 1.62 | 1.46 | 1.73 | 1.76 | 1.57 | |
| CWIP | 1.52 | 1.52 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 1.04 | 1.08 | 0.84 | 4.34 | 4.56 | 4.59 | 4.43 |
| 14.26 | 11.76 | 19.23 | 29.25 | 91.89 | 63.42 | 44.77 | |
| Total Assets | 17.04 | 14.52 | 21.69 | 35.05 | 98.18 | 69.77 | 50.77 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| -0.32 | -0.23 | -0.49 | -6.12 | 0.47 | -0.29 | |
| -0.01 | 0.19 | 0.48 | -3.58 | -0.27 | 0.16 | |
| 0.36 | -0.65 | 0.30 | 12.95 | -0.12 | -1.87 | |
| Net Cash Flow | 0.02 | -0.69 | 0.30 | 3.25 | 0.08 | -2.00 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 97.62 | 86.94 | 205.31 | 133.63 | 174.08 | 29.19 |
| Inventory Days | ||||||
| Days Payable | ||||||
| Cash Conversion Cycle | 97.62 | 86.94 | 205.31 | 133.63 | 174.08 | 29.19 |
| Working Capital Days | 16.99 | 21.53 | 49.95 | 142.73 | 157.61 | 66.67 |
| ROCE % | 9.44% | 22.09% | 6.32% | 4.93% | 2.88% |
Documents
Announcements
-
Change in Company Secretary/Compliance Officer
15 November 2025 - Approved unaudited H1 results for Sep 30, 2025; appointed CS Arvind Kumar Verma effective Nov 3, 2025.
-
Appointment
15 November 2025 - Approved unaudited H1 results ended Sep 30, 2025; Mr. Arvind Kumar Verma appointed CS on Nov 3, 2025.
-
Outcome of Board Meeting
14 November 2025 - Approved H1 results to Sept 30, 2025; Rs37.99L ECL; Rs29.32 crore unsettled advances.
-
Outcome of Board Meeting
14 November 2025 - Board approved unaudited H1 results to Sept 30, 2025; appointed CS; trading window closed Oct 1.
-
Outcome of Board Meeting
14 November 2025 - Approved H1 results (Sep 30, 2025); Rs29.32cr unsettled advances; Rs0.3799cr ECL; export receivables delayed.
Business Overview:[1][2][3][4]
a) IIL is an ISO certified heavy engineering company which is in the Engineering, Procurement and Construction business.
b) It deals in engineering Goods and spares, construction material, pollution control and renewable
energy projects.
c) The company is engaged in marketing/ selling projects that focus on supplying machines, erection /installation, commissioning and operational training for sugar plants, hydro power plants and pollution control systems, etc.
d) It also provides high-end engineering services and solutions for all types of activities in Hydro Power, Sugar & Pollution Control Systems.