Ishan International Ltd
Incorporated in 1999, Ishan International Ltd is engaged in the business of contracting of machinery and engineering projects.[1]
- Market Cap ₹ 13.0 Cr.
- Current Price ₹ 0.60
- High / Low ₹ 1.30 / 0.55
- 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 0.57 times its book value
- Debtor days have improved from 112 to 29.2 days.
- 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: -19.8%
* 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: | -6% |
| 1 Year: | -50% |
| 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% |
Insights
In beta| Feb 2016 | May 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Domestic Sales INR Lakhs |
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| Export Sales INR Lakhs |
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| Permanent Employees Number |
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| Revenue from Operations (Turnover) INR Lakhs |
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| Consultancy Fees Earned INR Lakhs |
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| Export Project Promotion Count (Cumulative since 2008) Number |
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| Rice Milling Installed Capacity (Ishan International Partnership Firm - 1999 entity) MT of paddy/day |
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Documents
Announcements
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Shareholders meeting
3 March 2026 - EGM Mar 2, 2026: three special resolutions approving sale/disposal of immovable properties passed overwhelmingly.
-
Shareholders meeting
3 March 2026 - EGM on Mar 2, 2026 considering property sale(s) and regularising IPO proceeds with Kalyan Capital.
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Shareholders meeting
23 February 2026 - EGM adjourned; reconvened Mar 2, 2026 to approve sale of two properties and ratify Rs.333.25L IPO parking.
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Outcome of Board Meeting
18 February 2026 - Board approved surplus funds investment under Section 186 and action plan to settle dues with Sachiel Exim (18 Feb 2026).
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Shareholders meeting
29 January 2026 - EGM on Feb 23, 2026 to approve property sales and ratify Rs.333.25L parked IPO proceeds.
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.