On 6 Nov 2026, International Conveyors was priced at ₹76.66, or 3.6× trailing earnings, against an industry P/E of 33.8×, and the shares are 20% below their 52-week high. Sales fell 0.3% a year over 3 years while net profit grew 34%, with ROCE of 21% and ROE of 17%, though net profit is above operating profit, which points to a one-off gain. Debt is 0.17× equity, and its dividend yield is 0.7%. It is a small-cap company with a market cap of ₹489 Cr, ranked 80th of 138 Specialty Industrial Machinery companies by market cap; the shares fell 17% over the past year.
- ₹78.90
- ₹78.90
- ₹76.02
- ₹77.85
- 8.1K
Health check
- ReturnsBehind
−17.2% over a year, better than 1 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthSteady
Sales −0.3%, profit +33.5% a year over 3 years.
- ProfitabilityAverage
ROCE 20.8% vs peer median 24.8%.
- Balance sheetFair
Debt 0.17× equity, interest covered 11.9×, Piotroski 4 of 9.
- Red flags2 to check
Quarterly sales down 0.4% on a year ago.
Small cap
Moves with the market
Key metrics
- Market cap
- ₹489 Cr
- Small cap
- P/E
- 3.6
- Industry 33.8
- Price to book
- 1.15
- Peers 9.16
- Dividend yield
- 0.65%
- ROE
- 17.4%
- Peers 19.1%
- ROCE
- 20.8%
- Peers 24.8%
- Debt to equity
- 0.17
- Debt ₹73 Cr
- EPS (TTM)
- ₹21.30
- Face value ₹1
- OPM (TTM)
- 14.8%
- Net margin 63.9%
- Sales growth
- −0.4%
- Latest quarter vs a year ago
- Profit growth
- +130.1%
- Latest quarter vs a year ago
- Price to sales
- 2.30
- EV/EBITDA 6.4
Strengths and risks
Strengths
- Return on capital employed of 20.8%.
- Quarterly profit up 130.1% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly sales down 0.4% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
About International Conveyors
International Conveyors Limited manufactures and markets PVC conveyor belting products in India and internationally. It operates through Conveyor Belting, Wind Energy, Trading Goods, and Treasury segments. The company offers mineplast and Mineplast Pro fire-resistant belting for conveying coal, potash, phosphate, fertilizer, clay, gypsum, and salt, as well as in timber industry applications. It is also involved in the trading of ply conveyor belting,…
- Headquarters
- Kolkata
- Employees
- 88
- Sector
- Industrials
- ISIN
- INE575C01027
- Website
- iclbelting.com
Price range
- Avg volume (3M)
- 62.1K
- 1-year return
- minus 17.2%
- From 52-week high
- minus 20.4%
Peers · Specialty Industrial Machinery
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHELBharat Heavy Electricals | 418.80 | plus 0.17% | 1,45,829 | 50.6 | 74.6 | 6.6% | 10.1% | 0.22 | 13.5% | plus 56.4% |
| ABBABB India | 6,774.00 | plus 2.20% | 1,43,547 | 92.3 | 68.2 | 28.5% | 13.8% | 0.02 | 15.4% | plus 26.4% |
| SIEMENSSiemens | 3,560.00 | plus 3.73% | 1,26,779 | 86.1 | 59.3 | 16.5% | 10.4% | 0.02 | 3.0% | plus 10.0% |
| CUMMINSINDCummins India | 4,048.80 | minus 0.25% | 1,12,233 | 49.8 | 41.7 | 35.0% | 19.1% | 0.00 | 16.1% | minus 6.0% |
| GVT&DGE Vernova T&D India | 4,018.00 | minus 3.06% | 1,02,879 | 71.3 | 56.6 | 58.5% | 26.5% | 0.01 | 31.1% | plus 31.7% |
| SUZLONSuzlon Energy | 38.80 | plus 0.54% | 53,337 | 23.7 | 17.3 | 24.8% | 16.7% | 0.07 | 41.4% | minus 35.7% |
| AIAENGAIA Engineering | 3,113.60 | minus 2.77% | 29,056 | 23.5 | 19.6 | 19.9% | 27.4% | 0.00 | −3.4% | minus 3.9% |
| INTLCONVInternational Conveyors | 76.66 | minus 1.53% | 489 | 3.6 | 12.1 | 20.8% | 19.7% | 0.17 | −0.3% | minus 17.2% |
| Median of 7 peers | – | 0.17% | 1,12,233 | 50.6 | 56.6 | 24.8% | 16.7% | 0.02 | 15.4% | 10.0% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 35.5 | 45.3 | 35.3 | 97 | 35.3 | |
| 30.1 | 34.5 | 30 | 88.9 | 28.2 | |
| 5.4 | 10.8 | 5.4 | 8.2 | 7.1 | |
| 15.3% | 23.9% | 15.2% | 8.4% | 20.2% | |
| 65.9 | −32.3 | 35.7 | 0 | 147 | |
| 1.9 | 2.6 | 2.1 | 1.8 | 1.9 | |
| 0.4 | 0.4 | 0.4 | 0.4 | 0.5 | |
| 69.1 | −24.6 | 38.5 | 5.9 | 152 | |
| 24.6% | 29.3% | 23.0% | 32.8% | 21.1% | |
| 52.1 | −17.4 | 29.7 | 4 | 120 | |
| 8.22 | -2.74 | 4.68 | 0.63 | 18.73 |
Profit & loss
- Sales CAGR 3Y
- −0.3%
- Profit CAGR 3Y
- +33.5%
- EPS CAGR 3Y
- +35.9%
- ROE
- 17.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 214 | 134 | 151 | 213 | |
| – | minus 37.7% | +13.3% | +40.5% | |
| 183 | 112 | 129 | 172 | |
| 31.5 | 21.3 | 22 | 40.6 | |
| 14.7% | 16.0% | 14.5% | 19.1% | |
| 11.3 | 12.8 | 18.6 | 20 | |
| 3.5 | 8.6 | 8.2 | 8.2 | |
| 2.3 | 1.9 | 1.7 | 1.6 | |
| 0.2 | 53.5 | 85.7 | 38.2 | |
| 37.2 | 77 | 116 | 89 | |
| 22.7% | 19.0% | 21.1% | 23.2% | |
| 28.7 | 62.4 | 91.7 | 68.4 | |
| – | +117.2% | +47.0% | minus 25.4% | |
| 4.28 | 9.82 | 14.47 | 10.74 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 6.5 | 6.3 | 6.3 | 6.4 | |
| 209 | 267 | 355 | 418 | |
| 64.8 | 125 | 86.4 | 73.4 | |
| 31 | 41.6 | 59.7 | 71 | |
| 311 | 439 | 508 | 569 | |
| 14.9 | 13.9 | 12.6 | 14.3 | |
| – | – | 0.1 | 0.2 | |
| 95.9 | 76.3 | 2.5 | 40.2 | |
| 72.1 | 180 | 56.2 | 72.2 | |
| 128 | 169 | 437 | 442 | |
| 311 | 439 | 508 | 569 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3.6 | 12 | 14.9 | 34.5 | |
| −18.5 | −47.6 | 43.3 | −4.9 | |
| 15.3 | 34.5 | −54.1 | −25.5 | |
| 0.4 | −1.1 | 4.1 | 4.1 | |
| −0.4 | −1 | −0.4 | −3.3 | |
| 3.1 | 11 | 14.5 | 31.2 | |
| −6.8 | −7 | −7 | −4.8 |
Shareholding pattern
- Promoters70.45%
- Public29.55%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 70.45% | 29.55% | plus 0.22 | |
| 30 Jun 2026 | 70.23% | 29.77% | plus 0.37 | |
| 31 Mar 2026 | 69.86% | 30.14% | plus 0.21 | |
| 31 Dec 2025 | 69.65% | 30.35% | minus 0.42 | |
| 30 Sep 2025 | 70.07% | 29.93% | – |
Major shareholders
Filings & events
News
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