Ishan International Ltd
Incorporated in 1999, Ishan International Ltd
is in the business of Engineering, Procurement and Construction (EPC)[1]
- Market Cap ₹ 24.9 Cr.
- Current Price ₹ 1.15
- High / Low ₹ 4.05 / 0.90
- Stock P/E 118
- Book Value ₹ 1.04
- Dividend Yield 0.00 %
- ROCE 2.88 %
- ROE 0.91 %
- Face Value ₹ 1.00
Pros
- Stock is trading at 1.10 times its book value
- Debtor days have improved from 112 to 29.2 days.
- Company's working capital requirements have reduced from 167 days to 95.6 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.
* 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: Engineering Industry: Engineering
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 | |
|---|---|---|---|---|---|---|
| 21.91 | 22.21 | 21.12 | 35.70 | 30.13 | 72.65 | |
| 21.75 | 21.57 | 18.71 | 34.37 | 29.92 | 72.56 | |
| Operating Profit | 0.16 | 0.64 | 2.41 | 1.33 | 0.21 | 0.09 |
| OPM % | 0.73% | 2.88% | 11.41% | 3.73% | 0.70% | 0.12% |
| 0.81 | 0.50 | 0.35 | 0.22 | 1.39 | 0.90 | |
| Interest | 0.51 | 0.88 | 0.87 | 0.72 | 0.59 | 0.55 |
| Depreciation | 0.08 | 0.06 | 0.05 | 0.18 | 0.16 | 0.15 |
| Profit before tax | 0.38 | 0.20 | 1.84 | 0.65 | 0.85 | 0.29 |
| 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 | |
| EPS in Rs | 0.07 | 0.04 | 0.08 | 0.02 | 0.03 | 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: | 141% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -5% |
| 3 Years: | -47% |
| TTM: | -63% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -51% |
| 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 | |
|---|---|---|---|---|---|---|
| Equity Capital | 1.34 | 1.34 | 4.93 | 7.21 | 21.62 | 21.62 |
| Reserves | 3.47 | 3.63 | 1.27 | 16.61 | 2.08 | 0.95 |
| 5.80 | 7.30 | 8.51 | 4.83 | 6.03 | 6.07 | |
| 6.43 | 2.25 | 6.98 | 6.40 | 68.45 | 41.13 | |
| Total Liabilities | 17.04 | 14.52 | 21.69 | 35.05 | 98.18 | 69.77 |
| 0.22 | 0.16 | 1.62 | 1.46 | 1.73 | 1.76 | |
| CWIP | 1.52 | 1.52 | -0.00 | -0.00 | -0.00 | -0.00 |
| Investments | 1.04 | 1.08 | 0.84 | 4.34 | 4.56 | 4.59 |
| 14.26 | 11.76 | 19.23 | 29.25 | 91.89 | 63.42 | |
| Total Assets | 17.04 | 14.52 | 21.69 | 35.05 | 98.18 | 69.77 |
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 | 0.44 | -0.29 | |
| -0.01 | 0.19 | 0.48 | -3.58 | -0.24 | 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 | 2.11 | |||||
| Days Payable | 211.13 | |||||
| Cash Conversion Cycle | 97.62 | 86.94 | 205.31 | 133.63 | 174.08 | -179.83 |
| Working Capital Days | 87.29 | 113.07 | 174.03 | 183.01 | 221.81 | 95.61 |
| ROCE % | 9.44% | 22.09% | 6.32% | 4.93% | 2.88% |
Documents
Announcements
-
Change in Directors/ Key Managerial Personnel/ Auditor/ Compliance Officer/ Share Transfer Agent
23 May 2025 - ISHAN INTERNATIONAL LIMITED has informed about Change in Directors/ Key Managerial Personnel/ Auditor/ Compliance Officer/ Share Transfer Agent
-
Outcome of Board Meeting
23 May 2025 - Appointed secretarial auditor for 5 years; re-appointed internal auditor for FY 2025-26; noted financial deviations.
-
Integrated Filing- Financial
22 May 2025 - Approved standalone audited financial results for FY25 with unmodified auditor opinion, trading window closed till May 24.
-
Outcome of Board Meeting
22 May 2025 - Board approved standalone audited results for FY25 with unmodified auditor opinion and trading window closure.
-
Structural Digital Database
14 May 2025 - Submission of SEBI insider trading compliance certificate for FY ended March 31, 2025.
Business Area[1] Ishan International Ltd. is an ISO 9001: 2015 certified Company, GoI certified Star Export House, and a diversified heavy engineering company with 26+ years of experience in selling heavy engineering equipment in international markets. It is engaged in contracting and building projects that focus on supplying machines, erection/installation, commissioning, and operational training for sugar plants, jaggery plants, pharmaceutical plants, hydropower plants, and pollution control systems