International Conveyors Ltd

₹ 85.0 -4.97%

18 May - close price

iclbelting.com BSE: 509709 NSE: INTLCONV

About

Incorporated in 1973, International Conveyors Limited (ICL) is engaged in the manufacturing and marketing of solid woven PVC covered conveyor belts. These belts are fire retardant, antistatic and are mainly used in underground mines for transportation of minerals such as Coal & Potash ^[1]

Key Points

Leading Conveyor Belt Manufacturer^[1]
ICL is one of the largest manufacturers of solid woven belting in the world and has a complete product range with the ability to make conveyors up to 3150 kN/m (type 18 width in strength and belt widths up to 1800 mm)

Website BSE NSE

Market Cap ₹ 539 Cr.
Current Price ₹ 85.0
High / Low ₹ 125 / 52.1
Stock P/E 8.65
Book Value ₹ 43.1
Dividend Yield 1.29 %
ROCE 25.4 %
ROE 25.6 %
Face Value ₹ 1.00

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Pros

Company has delivered good profit growth of 66.5% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 25.9%

Cons

Promoter holding has decreased over last quarter: -0.58%
The company has delivered a poor sales growth of 9.38% over past five years.
Earnings include an other income of Rs.66.6 Cr.
Debtor days have increased from 43.4 to 56.3 days.
Working capital days have increased from 389 days to 846 days

* 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

Sector: Plantation & Plantation Products Industry: Miscellaneous

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	54.20	32.06	51.48	63.86	57.78	55.88	66.00	44.31	48.83	42.66	42.76	22.55	25.96
	51.26	27.13	49.97	56.67	51.86	50.80	57.59	37.57	39.67	36.62	33.28	18.87	23.87
Operating Profit	2.94	4.93	1.51	7.19	5.92	5.08	8.41	6.74	9.16	6.04	9.48	3.68	2.09
OPM %	5.42%	15.38%	2.93%	11.26%	10.25%	9.09%	12.74%	15.21%	18.76%	14.16%	22.17%	16.32%	8.05%
	2.67	1.44	1.79	4.97	5.33	3.18	3.05	3.72	4.02	14.34	21.58	22.55	8.16
Interest	0.96	1.13	1.14	1.45	0.50	0.51	0.76	1.44	1.20	2.18	2.48	2.20	2.09
Depreciation	0.55	0.49	0.54	0.48	0.60	0.54	0.59	0.57	0.57	0.47	0.47	0.49	0.51
Profit before tax	4.10	4.75	1.62	10.23	10.15	7.21	10.11	8.45	11.41	17.73	28.11	23.54	7.65
Tax %	38.78%	0.21%	55.56%	22.19%	72.81%	3.19%	28.59%	21.30%	31.03%	20.42%	18.53%	17.97%	20.65%
	2.51	4.74	0.72	7.96	2.76	6.98	7.22	6.65	7.87	14.11	22.90	19.31	6.07
EPS in Rs	0.37	0.70	0.11	1.18	0.41	1.03	1.07	0.99	1.19	2.23	3.61	3.05	0.96
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	116	132	96	84	60	56	86	99	169	205	215	134
	92	115	91	86	54	59	86	88	149	186	186	113
Operating Profit	25	17	5	-2	6	-3	-0	11	20	20	29	21
OPM %	21%	13%	5%	-2%	10%	-5%	-0%	11%	12%	10%	14%	16%
	4	3	4	6	8	8	9	4	9	14	14	67
Interest	6	5	5	6	6	7	10	10	5	4	4	9
Depreciation	7	6	5	3	3	3	2	2	2	2	2	2
Profit before tax	15	9	-1	-5	5	-4	-4	3	22	27	37	77
Tax %	29%	48%	-269%	13%	34%	-46%	-41%	-98%	25%	40%	23%	19%
	10	5	-3	-4	3	-7	-6	6	17	16	29	62
EPS in Rs	1.55	0.70	-0.44	-0.66	0.49	-1.10	-0.85	0.94	2.46	2.40	4.36	9.84
Dividend Payout %	16%	36%	-57%	-8%	10%	-5%	-6%	21%	41%	42%	25%	11%

Compounded Sales Growth
10 Years:	0%
5 Years:	9%
3 Years:	-8%
TTM:	-38%

Compounded Profit Growth
10 Years:	29%
5 Years:	67%
3 Years:	55%
TTM:	123%

Stock Price CAGR
10 Years:	19%
5 Years:	30%
3 Years:	26%
1 Year:	66%

Return on Equity
10 Years:	8%
5 Years:	14%
3 Years:	17%
Last Year:	26%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	7	7	7	7	7	7	7	7	7	7	6	6
Reserves	68	71	68	62	117	143	140	116	147	210	209	267
	53	55	58	58	40	65	102	63	46	20	65	125
	21	23	24	11	11	15	18	22	28	69	31	42
Total Liabilities	149	155	157	138	176	230	266	207	228	305	311	439
	33	28	24	23	21	19	17	15	17	17	16	15
CWIP	1	2	3	1	1	1	1	1	0	0	0	0
Investments	32	32	42	42	101	143	170	102	147	119	157	252
	82	92	88	71	52	67	78	89	64	168	138	172
Total Assets	149	155	157	138	176	230	266	207	228	305	311	439

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	13	18	9	12	16	-14	5	3	49	37	4
	6	-13	-8	-3	7	-4	-32	46	-26	1	-18
	-18	-1	-3	-8	-24	18	26	-49	-24	-37	15
Net Cash Flow	0	3	-2	1	-1	0	-1	0	-0	0	0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	97	64	96	69	50	141	110	107	36	45	29	56
Inventory Days	145	108	159	128	198	138	74	220	90	88	71	161
Days Payable	104	73	93	51	75	128	80	108	77	111	69	113
Cash Conversion Cycle	139	99	162	146	173	151	104	220	50	22	31	105
Working Capital Days	156	134	193	203	226	291	181	175	58	165	157	846
ROCE %	16%	11%	3%	0%	7%	1%	3%	7%	14%	14%	16%

Shareholding Pattern

Numbers in percentages

11 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	61.74%	63.44%	64.36%	65.97%	66.33%	66.33%	66.74%	67.95%	70.65%	70.65%	69.18%	68.60%
	17.70%	12.38%	10.36%	4.63%	3.18%	0.15%	0.05%	0.04%	0.07%	0.06%	0.01%	0.04%
	20.56%	24.18%	25.28%	29.40%	30.49%	33.52%	33.22%	32.01%	29.29%	29.28%	30.80%	31.35%
No. of Shareholders	4,189	7,694	9,819	19,119	19,775	20,940	20,330	19,091	17,942	21,104	29,522	40,019

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	37.39%	42.29%	47.29%	49.74%	61.74%	65.97%	67.95%	68.60%
	35.26%	33.92%	18.86%	20.49%	17.56%	4.63%	0.04%	0.04%
	3.56%	1.26%	1.26%	1.26%	0.00%	0.00%	0.00%	0.00%
	23.79%	22.53%	32.60%	28.51%	20.70%	29.40%	32.01%	31.35%
No. of Shareholders	1,851	1,816	1,834	1,742	1,811	19,119	19,091	40,019

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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