āagman

Not investment advice. Data and computed figures, for information only.

Indo Count Industries Ltd

NSE: ICIL
₹437.50
−₹27.95 (−6.00%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹8,641 Cr
CMP
₹437.50
52-wk High / Low
₹486 / 217
P/E
57.3
P/B
3.7
Book Value
₹119.0
Div Yield
0.34%
ROCE
8.0%
ROE
5.5%
Face Value
₹2
D/E
0.57

Price+59.1% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹131
√(22.5 × EPS × book value per share)
ROIC
4.9%
vs 4.9% sector median
Cash flow to profit
4.51
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+27
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
4.4%
ROE × earnings retention ratio
ROE stability
5.7
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.28DII +0.10
Latest quarter vs the previous one
Cash-accrual divergence
−10.2%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.3x)
+Price is within 10% of its 52-week high (-10.0%)
+FII holding rose by 0.9pp over the last year
Watch-outs
−Latest ROCE of 8% trails the sector median of 9%
−Borrowings are up 228.1% since FY2016 (409 to 1342)
−Annualised volatility of 58.0% is in the high band (≥45%)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales7411,0097131,0939411,0361,1521,0239591,0621,0631,0581,207
Expenses6168446099287968791,0069338489589729711,064
Operating Profit125165104165145157146901111049186143
OPM %16.9%16.4%14.6%15.1%15.4%15.2%12.7%8.8%11.6%9.8%8.6%8.1%11.8%
Other Income52514099166919113017
Interest15181820213036363132304432
Depreciation19202222252532343839394345
Profit before tax971517912410811095265152343084
Net Profit741145892788071213939242463
EPS (₹)3.725.772.934.643.934.063.571.061.971.971.231.223.19

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,7172,0632,1531,8591,9342,0802,5192,8423,0123,5574,1514,1414,390
Expenses1,4681,6461,8281,6961,7781,8972,1412,4032,5562,9953,6133,7473,965
Operating Profit249417325163156183379439455562538394424
OPM %14.5%20.2%15.1%8.8%8.1%8.8%15.0%15.4%15.1%15.8%13.0%9.5%9.7%
Other Income39481039910−44321353041386778
Interest65554235363928476270123136136
Depreciation16303333354343416583116159167
Profit before tax2073793531949557340486359450338166199
Net Profit1462512321256073249359277338250127151
EPS (₹)7.3812.7411.766.393.053.7412.7018.1713.9717.0612.626.407.61

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital393939393939393940404040—
Reserves3825918079179359471,2451,5511,7532,0492,2422,316—
Borrowings3864093113843373495771,3198769561,4481,342—
Other Liabilities435352367359313361433352379524526794—
Total Liabilities1,2421,3921,5241,6991,6251,6962,2963,2623,0483,5694,2554,491—
Fixed Assets3884845335435745755616311,1101,3551,8952,084—
CWIP1511122416682418335505—
Investments00004601672143133139190—
Other Assets8398989791,1329881,1151,5602,6061,6112,0462,1712,212—
Total Assets1,2421,3921,5241,6991,6251,6962,2963,2623,0483,5694,2554,491—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity23615321642215140−20−37755146394573
Cash from Investing Activity−103−113−78−52−10116−189−258−474−98−485−217
Cash from Financing Activity−114−61−14817−106−40185646−574−47105−349
Net Cash Flow19−21−1078116−23352−2931147

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %39.047.036.018.010.015.023.022.015.018.014.08.0
ROE %———————————5.5
EPS (₹)7.3812.7411.766.393.053.7412.7018.1713.9717.0612.626.40
Book Value (₹)———————————119.0
Face Value (₹)———————————2
P/E———————————57.3
Div Yield %———————————0.34
NPM %8.311.910.36.43.13.69.812.19.19.46.03.0
OPM %14.020.015.09.08.09.015.015.015.016.013.010.0
D/E0.920.650.370.400.350.350.450.830.490.460.630.57
P/B———————————3.7

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+7.0%
5 years+10.0%
3 years+11.0%
TTM+5.0%
Compounded profit growth
10 years−7.0%
5 years−13.0%
3 years−23.0%
TTM−29.0%
Stock price CAGR
10 years+12.0%
5 years+8.0%
3 years+22.0%
Last year+59.0%
Return on equity
10 years15.0%
5 years14.0%
3 years11.0%
Last year6.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters58.94%58.94%58.94%58.94%58.94%58.94%58.94%58.74%58.74%58.74%58.74%58.74%
FIIs17.18%17.18%7.67%9.20%7.69%9.82%9.44%9.28%10.74%10.12%9.86%10.14%
DIIs3.91%3.91%1.99%0.56%0.17%0.02%0.06%0.04%1.06%4.96%5.72%5.82%
Government————————————
Public19.97%19.97%31.40%31.30%33.20%31.22%31.56%31.93%29.45%26.18%25.66%25.30%
No. of shareholders40,68740,68763,61355,58549,23035,95161,84867,26373,38473,38077,25875,948
Change since Jun 2023 (pp)
Promoters −0.20FIIs −7.04DIIs +1.91Public +5.33

Documents

As of 11 Oct 2026
Announcements
Closure of Trading WindowAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAnnouncement under Regulation 30 (LODR)-Strikes /Lockouts / DisturbancesAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingJun 2026TranscriptJun 2026PPTJun 2026RecordingFeb 2026TranscriptFeb 2026PPTNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025TranscriptAug 2025PPT

Corporate actions

As of 17 Aug 2026
17 Aug 2026DIVIDENDDividend - Rs 1.50 Per Share—
11 Aug 2025DIVIDENDDividend - Rs 2 Per Share—
24 Jul 2024DIVIDENDAnnual General Meeting/Dividend - Rs 2.20 Per Share—
11 Aug 2023DIVIDENDAnnual General Meeting/Dividend - Rs 2 Per Share—
19 Sep 2022DIVIDENDDividend - Rs 2 Per Share—
26 Aug 2021DIVIDEND Dividend - Rs 1.50 Per Share—
22 Jul 2020DIVIDEND Dividend - Rs 0.60 Per Share—
1 Aug 2019DIVIDEND Dividend - Rs 0.60 Per Share—
30 Aug 2018DIVIDEND Dividend Re 0.40 Per Share—
22 Feb 2018DIVIDEND Interim Dividend - Re 0.40 Per Share (Purpose Revised)—
7 Aug 2017DIVIDEND Annual General Meeting/Dividend - Re 0.40 Per Share—
22 Feb 2017DIVIDEND Interim Dividend Re 0.40 Per Share—
15 Jul 2016DIVIDEND Annual General Meeting/Dividend - Re 1/- Per Share—
3 Nov 2015DIVIDEND Interim Dividend - Re 1/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman