Indo Count Industries Limited (ICIL)

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Indo Count Industries Limited (ICIL) · mywealthgrid

About

Indo Count Industries operates in Other Textile Products within Consumer Discretionary textiles, with market cap ₹7,525.82 Cr and consolidated quarterly revenue typically ₹1,000–1,200 Cr. Net profit ranges ₹24–67 Cr per quarter; the company has paid annual dividends consistently since 2021. It is a mid-sized player in discretionary textiles exposed to cyclical demand.

Face value: ₹2

Market cap

₹8,789 Cr

P/E

58.2×

P/B

3.7×

Dividend yield

0.3%

ROE

5.5%

ROCE

10%

Debt / equity

0.46

OPM

9.5%

EPS (TTM)

₹7.6

Book value

₹118.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Extremely high valuation at PE 49.88× leaves minimal room for earnings disappointment; any shortfall in growth delivery creates sharp downside risk
Severely depressed ROE of 5.47% despite moderate D/E of 0.46 signals poor capital efficiency; verify whether management has concrete operational or strategic initiatives to improve returns
Quarter-to-quarter volatility in revenue (₹757–1,206 Cr consolidated) and net profit (₹24–67 Cr) suggests either operational instability or demand cycles; assess whether recent OPM jump to 13.86% (Jun 2026) is sustainable or temporary
Textile industry exposure to raw material cost inflation and discretionary demand fluctuations; verify current order pipeline and commodity price environment

Generated analysis · source review pending

Growth drivers

Operating margin expanded to 13.86% (Jun 2026) from typical 8–9% in prior quarters, providing profit leverage if improvement is structural; verify what drove the recent expansion and whether it can be sustained
Consolidated revenue of ₹1,000–1,200 Cr quarterly provides meaningful scale for profitable reinvestment; verify domestic discretionary textile demand trajectory and export order visibility
Consistent annual dividend payments (2021–2026) reflect stable underlying cash generation; clarify management's capital deployment strategy and whether retained earnings will fund organic growth or margin-accretive initiatives

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹443.7+2%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Profit declined 12.8% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

39/100

Business quality: 24
Growth: 61
Valuation: 31

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

Screen this industry

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,859	1,934	2,080	2,519	2,842	3,012	3,557	4,151	4,141
COGS	1,044	1,031	1,139	1,270	1,353	1,361	1,514	1,849	1,892
Gross profit	815	903	941	1,249	1,489	1,651	2,043	2,302	2,250
	652	747	757	873	1,055	1,197	1,484	1,768	1,858
	163	156	183	377	434	454	559	534	392
OPM %	8.7%	8.1%	8.8%	15%	15.3%	15.1%	15.7%	12.9%	9.5%
Depreciation	33	35	43	43	41	65	83	117	159
Interest	35	36	39	28	47	62	70	123	136
	100	10	-44	34	140	31	44	40	70
Profit before tax	—	95	57	340	486	359	450	334	166
Tax	69	36	-16	91	127	82	112	88	40
Tax %	—	37.3%	-29%	26.7%	26.2%	22.8%	25%	26.3%	23.8%
	126	60	73	249	359	277	338	246	127
PAT margin %	6.8%	3.1%	3.5%	9.9%	12.6%	9.2%	9.5%	5.9%	3.1%
EPS (₹)	6.4	3.1	3.7	12.7	18.2	14	17.1	12.4	6.4
EPS adjusted (₹)	6.4	3.1	3.7	12.7	-1.4	14	17.1	12.4	6.4
	12.5%	19.7%	16%	11.8%	11%	14.3%	12.9%	16.1%	23.4%
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	39	39	39	39	39	39	39	40	40	40	40
Reserves	353	807	917	935	947	1,245	1,551	1,753	2,049	2,238	2,316
Minority interest	—	—	—	7	7	6	—	—	0	—	—
	385	304	371	314	329	572	1,301	841	914	1,218	1,074
	444	374	372	329	374	433	370	426	565	764	1,063
Total equity & liabilities	1,222	1,524	1,699	1,625	1,696	2,296	3,262	3,060	3,569	4,260	4,492
	388	533	543	574	575	561	631	1,053	1,299	1,648	1,822
CWIP	15	12	24	16	6	8	21	180	25	28	4
Investments	0	0	0	46	0	167	2	143	133	135	190
	819	979	1,132	988	1,115	1,560	2,609	1,683	2,112	2,450	2,476
Total assets	1,222	1,524	1,699	1,625	1,696	2,296	3,262	3,060	3,569	4,260	4,492

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	46.7%	45.2%	49.6%	52.4%	54.8%	57.4%	55.5%	54.3%
EBITDA margin %	8.1%	8.8%	15%	15.3%	15.1%	15.7%	12.9%	9.5%
EBIT margin %	6.2%	6.7%	13.2%	13.8%	12.9%	13.4%	10.1%	5.6%
PAT margin %	3.1%	3.5%	9.9%	12.6%	9.2%	9.5%	5.9%	3.1%
Working capital
Receivable days	48	43	75	63	50	54	52	45
Inventory days	188	168	206	288	240	275	229	241
Payable days	51	41	67	45	60	74	46	72
NWC days	185	169	214	307	229	255	236	215
Leverage
Current ratio	2.21	1.88	1.92	1.5	1.79	1.81	1.7	1.71
Debt to EBITDA	2.02	1.79	1.52	3	1.85	1.64	2.28	2.74
Debt to equity	0.32	0.33	0.45	0.82	0.47	0.44	0.53	0.46
Interest coverage	3.7	5	13.2	11.3	6.7	7.4	3.7	2.2
Asset turnover	1.19	1.23	1.1	0.87	0.98	1	0.97	0.92
Return ratios
Return on assets %	3.7%	4.3%	10.9%	11%	9%	9.5%	5.8%	2.8%
Return on capital employed %	11.3%	17.1%	29.6%	33.7%	21.8%	23.2%	17.1%	10%
Return on equity %	6.1%	7.4%	19.4%	22.5%	15.4%	16.2%	10.8%	5.4%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	58.74%	58.74%	58.74%	58.74%	58.74%	58.74%	58.74%	58.74%	58.74%	58.74%	58.74%	58.74%
	10.25%	10.66%	10.74%	10.69%	10.69%	10.35%	10.11%	9.89%	9.99%	9.86%	9.85%	10.14%
	0.13%	0.79%	1.07%	2.16%	3.67%	4.57%	4.96%	5.15%	5.31%	6.03%	5.72%	5.82%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	30.88%	29.81%	29.45%	28.41%	26.9%	26.34%	26.19%	26.22%	25.96%	25.37%	25.69%	25.3%
No. of shareholders	—	—	—	—	—	—	—	—	78,854	76,462	77,258	75,948

Promoter holding up 0 percentage points since Sep 2023.

5 deals · 18 Oct 2022 – 18 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
18 Aug 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	14,97,202	₹444.94	₹66.62 Cr
18 Aug 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	14,97,197	₹445.31	₹66.67 Cr
1 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	9,98,802	₹432.61	₹43.21 Cr
1 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	9,98,802	₹431.74	₹43.12 Cr
18 Oct 2022	LATWALLA INVESTMENTS PVT LTD	Bulk	BSE	Sell	11,00,021	₹130.30	₹14.33 Cr

1–5 of 5

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Anil Kumar JainExecutive Director-Chairperson related to Promoter
Mr. Mohit Anilkumar JainExecutive Director
Mr. Kamal Sukhamoy MitraExecutive Director
Mr. Sanjay Kumar PandaNon-Executive - Independent Director
Mr. Siddharth Saumil MehtaNon-Executive - Independent Director
Mr. Lakshmanan ViswanathanNon-Executive - Independent Director
Mr. Akash KagliwalNon-Executive - Independent Director
Mrs. Ambika SharmaNon-Executive - Independent Director
Mr. Manish BhatiaChief Financial Officer
Mr. K. MuralidharanGroup Chief Financial Officer
Mr. Satnam SainiCompany Secretary & Compliance Officer

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 3 fund houses

Held by these funds

0.26%

of the company's equity

All mutual funds

5.08%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

5 schemes · 3 fund houses

		Shares
Small Cap FundNEW	Bajaj Finserv Mutual Fund	2.55 L	11.99	0.45%	0.129%	—
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	2.06 L	9.68	0.39%	0.104%	-4,514
ELSS - Tax Saver Fund ( Formerly known as Bajaj Finserv ELSS Tax Saver Fund)NEW	Bajaj Finserv Mutual Fund	45,000	2.11	2.3%	0.023%	—
IB18-Groww Nifty Total Market Index Fund	Groww Mutual Fund	1,411	0.07	0.02%	0.001%	+7
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	235	0.01	0.02%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Aug 2026Transcript AI SummaryPPTREC
Jun 2026Transcript AI Summary PPT REC

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

17 announcementsExport CSV

30 Sept 2026, 6:00 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

29 Sept 2026, 5:42 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

18 Sept 2026, 9:51 pmCompany Update

Announcement under Regulation 30 (LODR)-Strikes /Lockouts / Disturbances

Strikes /Lockouts / Disturbances PDF

26 Aug 2026, 6:56 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

25 Aug 2026, 6:56 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

25 Aug 2026, 5:43 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

20 Aug 2026, 5:57 pmCompany Update

Announcement under Regulation 30 (LODR)-Earnings Call Transcript

Earnings Call Transcript PDF

10 Aug 2026, 1:41 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

Date	Category	Subject	Filing
30 Sept 2026, 6:00 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
29 Sept 2026, 5:42 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	46.7%	45.2%	49.6%	52.4%	54.8%	57.4%	55.5%	54.3%
EBITDA margin %	8.1%	8.8%	15%	15.3%	15.1%	15.7%	12.9%	9.5%
EBIT margin %	6.2%	6.7%	13.2%	13.8%	12.9%	13.4%	10.1%	5.6%
PAT margin %	3.1%	3.5%	9.9%	12.6%	9.2%	9.5%	5.9%	3.1%
Working capital
Receivable days	48	43	75	63	50	54	52	45
Inventory days	188	168	206	288	240	275	229	241
Payable days	51	41	67	45	60	74	46	72
NWC days	185	169	214	307	229	255	236	215
Leverage
Current ratio	2.21	1.88	1.92	1.5	1.79	1.81	1.7	1.71
Debt to EBITDA	2.02	1.79	1.52	3	1.85	1.64	2.28	2.74
Debt to equity	0.32	0.33	0.45	0.82	0.47	0.44	0.53	0.46
Interest coverage	3.7	5	13.2	11.3	6.7	7.4	3.7	2.2
Asset turnover	1.19	1.23	1.1	0.87	0.98	1	0.97	0.92
Return ratios
Return on assets %	3.7%	4.3%	10.9%	11%	9%	9.5%	5.8%	2.8%
Return on capital employed %	11.3%	17.1%	29.6%	33.7%	21.8%	23.2%	17.1%	10%
Return on equity %	6.1%	7.4%	19.4%	22.5%	15.4%	16.2%	10.8%	5.4%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
K.p.r. Mill LimitedKPRMILLKPRMILL	₹36,607 Cr	₹37,203 Cr	₹6,820 Cr	₹1,332 Cr	19.1%	₹912 Cr	13%	21.4%	16.2%	181
Welspun Living LimitedWELSPUNLIVWELSPUNLIV	₹22,941 Cr	₹24,744 Cr	₹9,934 Cr	₹884 Cr	8.4%	₹278 Cr	2.3%	6.6%	4.2%	108
Vardhman Textiles LimitedVTLVTL	₹15,322 Cr	₹17,177 Cr	₹10,186 Cr	₹1,387 Cr	12.6%	₹848 Cr	7.6%	8.6%	7.3%	259
Trident LimitedTRIDENTTRIDENT	₹11,293 Cr	₹13,061 Cr	₹6,781 Cr	₹877 Cr	13%	₹395 Cr	5.6%	10.6%	8%	103
Indo Count Industries LimitedICILICIL	₹8,789 Cr	₹9,862 Cr	₹4,390 Cr	₹424 Cr	9.5%	₹151 Cr	3.1%	10%	5.5%	215
Garware Technical Fibres LimitedGARFIBRESGARFIBRES	₹7,630 Cr	₹7,671 Cr	₹1,644 Cr	₹306 Cr	18.6%	₹190 Cr	13%	21.6%	15.3%	172
Kusumgar LimitedKUSUMGARKUSUMGAR	₹6,222 Cr	₹6,445 Cr	₹692 Cr	₹188 Cr	27.2%	₹98 Cr	14.2%	43.8%	35.2%	—
Filatex India LimitedFILATEXFILATEX	₹4,712 Cr	₹4,840 Cr	₹4,256 Cr	₹346 Cr	8.3%	₹191 Cr	4.4%	17.4%	12.9%	-4
Jindal Worldwide LimitedJINDWORLDJINDWORLD	₹4,594 Cr	₹5,152 Cr	₹2,300 Cr	₹124 Cr	5.9%	₹80 Cr	3.1%	13.5%	7.9%	112
Sanathan Textiles LimitedSANATHANSANATHAN	₹4,257 Cr	₹5,744 Cr	₹4,401 Cr	₹323 Cr	7.5%	₹61 Cr	2%	6.9%	4.2%	-25
Raymond Lifestyle LimitedRAYMONDLSLRAYMONDLSL	₹3,823 Cr	₹5,023 Cr	₹6,973 Cr	₹671 Cr	9.6%	₹43 Cr	0.7%	4%	0.5%	102
Alok Industries LimitedALOKINDSALOKINDS	₹3,505 Cr	₹29,610 Cr	₹3,775 Cr	₹66 Cr	0.8%	₹-711 Cr	-20%	-4%	—	93

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	153	216	42	215	140	-16	-345	767	146	394	573
	-113	-78	-52	-101	16	-189	58	-486	-98	-485	-217
	-61	-148	17	-106	-40	185	641	-574	-47	105	-349
Net cash flow	—	—	7	8	116	-20	354	-293	1	14	7
Free cash flow	—	—	—	155	107	-52	-345	767	11	143	371
CFO / Operating profit %	—	—	26%	137.7%	76.3%	-4.3%	-79.5%	168.8%	26.1%	73.8%	146.2%

Indo Count Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

1

14

1

Compounded sales growth

Compounded profit growth

Return on equity

Indo Count Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Upcoming and recent1

Dividends14

Board meetings1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

14

1