Loading page…

Indian Link Chain Manufacturers Ltd (INLCM) · mywealthgrid

About

Indian Link Chain Manufacturers Ltd manufactures link chains for industrial use. At ₹135.74 Cr market cap with quarterly revenues of ₹0.03–0.3 Cr, it operates as a niche player in the broader industrial products sector. The company's recent stock split (Jan 2024) and -52.54% one-year return reflect severe operational challenges.

Face value: ₹10

Market cap

₹62 Cr

P/E

—

P/B

2.7×

Dividend yield

ROE

-1.6%

ROCE

-1.7%

Debt / equity

0.01

OPM

—

EPS (TTM)

₹-1.4

Book value

₹84.8

52-week high

₹2,589.0

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Chronic unprofitability: net losses in all recent quarters (₹0.07–0.11 Cr) with operating margins from -57% to -485% and ROE of -12.04% indicate the company is destroying shareholder value.
Minimal and volatile revenue: quarterly revenues range ₹0.03–0.3 Cr with no uptrend visible; verify whether this reflects market demand, production shutdowns, or a broken business model.
Extreme stock volatility: 52-week range of ₹491.6–₹2,589 (5.3x spread) suggests illiquidity or structural distress; verify cause and implications for delisting or mandatory restructuring.
Zero institutional interest: FII 0%, DII 0.01%; verify whether exclusion reflects governance red flags, disclosure gaps, or operational opacity that make the stock ineligible for fund mandates.

Generated analysis · source review pending

Growth drivers

Zero debt (D/E = 0) removes leverage as a compounding headwind — verify whether the company can restructure to profitability without raising debt.
Minimal quarterly revenue (₹0.03–0.3 Cr) could expand if industrial products cycle recovers — verify current market conditions, the company's addressable market size, and customer concentration.
Minimal revenue could reflect idle capacity — verify order backlog, production utilization, and ability to scale if demand returns.

Generated analysis · source review pending

₹230.1-86.7%1Y

Beta

1.24

Amplifies index moves

Volatility (1y)

54.5%

Annualised, daily returns

RSI (14)

23.9

Oversold territory

Rel. strength (1y)

-95.2%

Behind the market

Beta is measured against NIFTY 50 over three years of weekly returns — 1 moves with the index, above 1 amplifies it, below 1 damps it.

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)

Cons

−Low return on equity of 1.5% (3-yr avg)
−Promoter holding fell 18 pts over the last year
−Trading 91.1% below its 52-week high

Research score

Structured signal from quality, growth, valuation and momentum.

31/100

Business quality: 33
Growth: 0
Valuation: 92
Momentum

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.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Hbl Engineering LimitedHBLENGINEHBLENGINE	₹21,604 Cr	₹21,648 Cr	₹2,718 Cr	₹716 Cr	33.7%	₹537 Cr	24.7%	57.1%	44.1%	171
Inox India LimitedINOXINDIAINOXINDIA	₹19,688 Cr	₹19,758 Cr	₹1,618 Cr	₹343 Cr	21.6%	₹255 Cr	16.3%	34.7%	25.9%	241
Krn Heat Exchanger And Refrigeration LimitedKRNKRN	₹9,266 Cr	₹9,454 Cr	₹737 Cr	₹144 Cr	18.7%	₹97 Cr	12.7%	19.2%	14.3%	208
Esab India LimitedESABINDIAESABINDIA	₹8,471 Cr	₹8,471 Cr	₹1,577 Cr	₹290 Cr	17.9%	₹222 Cr	13.7%	62.6%	52.3%	34
Subros LimitedSUBROSSUBROS	₹4,466 Cr	₹4,495 Cr	₹3,909 Cr	₹323 Cr	8.6%	₹166 Cr	4.4%	18.8%	14.2%	34
Harsha Engineers International LimitedHARSHAHARSHA	₹4,318 Cr	₹4,689 Cr	₹1,719 Cr	₹252 Cr	14.7%	₹155 Cr	9.5%	15.4%	11.7%	171
Ador Welding LimitedADORADOR	₹2,732 Cr	₹2,733 Cr	₹1,198 Cr	₹153 Cr	10.6%	₹114 Cr	7.2%	21.8%	15.4%	53
Diffusion Engineers LimitedDIFFNKGDIFFNKG	₹1,737 Cr	₹1,765 Cr	₹436 Cr	₹61 Cr	14.1%	₹55 Cr	12.4%	16.6%	13%	159
Mic Electronics LimitedMICELMICEL	₹868 Cr	₹912 Cr	₹223 Cr	₹25 Cr	13.3%	₹-12 Cr	-6.6%	9.8%	-5.8%	278
Technocrats Plasma Systems LtdTECHNOCRATTECHNOCRAT	₹716 Cr	—	—	—	—	—	—	—	—	—
Hy-Tech Engineers LimitedHTELHTEL	₹692 Cr	₹721 Cr	₹189 Cr	₹42 Cr	22%	₹23 Cr	11.9%	23.1%	20.2%	—
Mallcom (India) LimitedMALLCOMMALLCOM	₹580 Cr	₹700 Cr	₹527 Cr	₹56 Cr	11.2%	₹27 Cr	5.6%	15.4%	9.7%	159

Loading peers…

Financials

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

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	0	1	1	0	1	0	0	0	0	0	0
COGS	-0	-1	-1	-0	-1	0	0	0	0	0	0
	1	2	1	1	2	1	1	1	0	0	0
	-0	-0	-0	-0	-1	-1	-1	-1	-0	-0	-0
OPM %	-88%	-9.8%	-18.6%	-83.3%	-89.7%	-304.6%	—	—	—	—	—
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Interest	—	—	—	—	—	0	0	0	0	0	0
	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	-0	-0	-0	1	-0	-0	-0	-0	0	0	-0
Tax	0	-0	-0	0	—	0	0	0	0	0	0
Tax %	0%	-285.7%	-75%	46.6%	—	0%	0%	0%	0%	26.7%	0%
	-0	0	-0	0	-0	-0	-0	-0	0	0	-0
PAT margin %	-64%	15.2%	-2.9%	114.3%	-46.2%	-177.3%	—	—	—	—	—
EPS (₹)	-26.6	29	-3.3	95.8	-71.4	-77.6	-92.3	-91.3	17.9	21.9	-1.2
EPS adjusted (₹)	—	—	—	—	-7.2	-7.8	-9.2	-9.2	1.8	2.2	-0.8
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	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	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	1	1	1	1	1	1	3
Reserves	—	4	3	3	3	3	20
	—	0	0	0	0	0	0
	—	1	0	0	0	0	1
Total equity & liabilities	—	5	4	4	4	4	24
	0	0	0	0	0	0	0
CWIP	—	0	0	—	—	0	0
Investments	—	0	0	0	0	0	0
	0	4	4	3	4	4	24
Total assets	0	5	4	4	4	4	24

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-1	-1	-1	-0	-0	-20
	1	1	0	0	0	0
	0	0	0	0	0	20
Net cash flow	-0	0	-0	-0	0	0
Free cash flow	-1	-1	-1	-0	-0	-20
CFO / Operating profit %	—	—	—	—	—	—

Loading financials…

Ratios

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

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	0%	—	—	—	—	—
EBITDA margin %	-83.3%	-89.7%	-304.6%	—	—	—	—	—
EBIT margin %	-97.6%	-91%	-309.1%	—	—	—	—	—
PAT margin %	114.3%	-46.2%	-177.3%	—	—	—	—	—
Working capital
Receivable days	—	—	199	—	—	—	—	—
Inventory days	—	—	0	—	—	—	—	—
Payable days	—	—	249	—	—	—	—	—
NWC days	—	—	-50	—	—	—	—	—
Leverage
Current ratio	—	—	0.69	7.5	4.33	0.38	0.59	0.98
Debt to EBITDA	—	—	—	—	—	—	—	—
Debt to equity	—	—	0	0	0	0	0	0.01
Interest coverage	—	—	—	—	—	—	—	—
Asset turnover	—	3	0.05	0	0	0	0	0
Return ratios
Return on assets %	—	-138.5%	-8.6%	-11.6%	-13.1%	2.5%	3%	-0.9%
Return on capital employed %	—	—	-9.4%	-12%	-13.7%	2.8%	4.3%	-1.7%
Return on equity %	—	—	-9.6%	-12.8%	-14.7%	2.8%	3.3%	-0.9%

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.

Loading ratios…

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
	55.4%	55.4%	55.4%	55.4%	55.4%	55.4%	55.4%	55.4%	8.66%	37.38%	37.38%	37.38%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.01%	0.01%	0.01%	0.01%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	44.52%	44.52%	44.52%	44.52%	44.52%	44.52%	44.52%	44.52%	91.33%	62.61%	62.61%	62.61%
No. of shareholders	—	—	—	—	—	—	—	—	1,389	1,932	2,030	2,058

Promoter holding down 18.02 percentage points since Sep 2023.

17 deals · 2 Jan 2023 – 4 Nov 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
4 Nov 2025	VISHAL PRAVIN THAKKAR	Bulk	BSE	Sell	1,50,242	₹1,747.07	₹26.25 Cr
31 Oct 2025	VISHAL PRAVIN THAKKAR	Bulk	BSE	Sell	30,000	₹1,666.90	₹5.00 Cr
30 Oct 2025	VISHAL PRAVIN THAKKAR	Bulk	BSE	Sell	50,000	₹1,700.90	₹8.50 Cr
1 Oct 2025	DAIZAM AGGARWAL	Bulk	BSE	Sell	2,654	₹1,840.30	₹0.49 Cr
22 Sept 2025	NEO APEX VENTURE LLP	Bulk	BSE	Sell	2,800	₹1,602.35	₹0.45 Cr
17 Sept 2025	VISHAL PRAVIN THAKKAR	Bulk	BSE	Sell	25,000	₹1,510.00	₹3.78 Cr
17 Sept 2025	NEO APEX VENTURE LLP	Bulk	BSE	Buy	5,000	₹1,510.00	₹0.76 Cr
17 Sept 2025	SKYBRIDGE INCAP ADVISORY LLP	Bulk	BSE	Buy	4,900	₹1,510.00	₹0.74 Cr
17 Sept 2025	SAFAL NETCARDS PRIVATE LIMITED	Bulk	BSE	Buy	4,000	₹1,510.00	₹0.60 Cr
17 Sept 2025	TVISHA CORPORATE ADVISORS LLP	Bulk	BSE	Buy	3,557	₹1,510.00	₹0.54 Cr

1–10 of 17

1 / 2

Mr. Anay ChodankarManaging Director
Mr. Gajanan GodboleNon - Executive Independent Director
Mr. Rajendra ChodankarNon - Executive Non -Independent Director
Ms. Riddhita AgrawalNon - Executive Independent Director
Ms. Khushbu GuptaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

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.

Loading f&o…

Fund holders

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

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Indian Link Chain Manufacturers Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

Loading fund holders…

Documents

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

Announcements

Annual reports

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

Loading documents…

Events

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

1

Board meeting to consider results10 Aug 2026

1

Face value ₹100 → ₹103 Jan 2024 · ex-date

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

18 announcementsExport CSV

29 Jun 2026, 4:35 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

Loading announcements…

Date	Category	Subject	Filing
29 Jun 2026, 4:35 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
30 May 2026, 3:46 pm	Result Financial Results	Audited Financial Results For The Quarter And Financial Year Ended On March 31, 2026	PDF
30 May 2026, 3:37 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome For Consideration And Approval Of The Audited Financial Results Of The Company For The Fourth Quarter And Year Ended 31St March, 2026.	PDF
27 May 2026, 5:15 pm	Board Meeting	Board Meeting Intimation for Consideration And Approval Of Audited Financial Results Of The Company For The Quarter And Financial Year Ended March 31, 2026.	PDF
23 May 2026, 6:31 pm	Company Update General	Indian Link Chain Manufacturers Ltd - 504746 - Announcement Under Regulation 30- Appointment Of Secretarial Auditor Of The Company.	PDF
23 May 2026, 6:25 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Appointment Of Secretarial Auditor.	PDF
18 May 2026, 6:43 pm	Board Meeting	Board Meeting Intimation for Appointment Of Secretarial Auditor	PDF
30 Apr 2026, 2:00 pm	Others Format of the Annual Disclosure to be made by an entity identified as a LC : Annexure B2	Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2	PDF

Indian Link Chain Manufacturers Ltd

Indian Link Chain Manufacturers Ltd

About

Key insights

Key risks

Growth drivers

Risk & technicals

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Board meetings1

Stock splits1

Announcements

Board meetings1

Stock splits1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Stock price CAGR

Return on equity

1

1

1

1