Indo Count Industries Ltd
Indo Count Industries Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Indo Count targets revenue of approximately USD 275 million by FY28 from utility bedding (USD 175 million) and brand business (USD 100 million). Indo Count expects EBITDA margins to return to 15%-16% levels on the core business within 6 to 9 months as product mix stabilizes (Page 14). - Utility bedding business targets EBITDA margins of 15%-16%, and brand business targets 17%-18% EBITDA margins (Page 16). - The utility bedding segment aims to reach $175 million in revenue by FY28, with gradual scaling and margin improvement (Page 21). - The new North Carolina facility is expected to be operational by late Q3 or early Q4 FY26, contributing $85-$90 million in annual revenues when fully ramped up (Pages 9-10). - As volumes in the core business scale up and new businesses gain traction, stronger EBITDA to PAT conversion is expected over the next two years (Page 7). - Earnings per share (EPS) for Q2 FY26 was Rs.
From Indo Count Industries Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Indo Count targets revenue of approximately USD 275 million by FY28 from utility bedding (USD 175 million) and brand business (USD 100 million).
- Current run rate for utility bedding and US branded segments is about USD 85 million, with a quarterly 40% growth in contribution.
- Volume growth is steady with Q2 FY26 sales volumes at 25.2 million meters, up 7% quarter-on-quarter, and Q3 expected to be similar to Q2.
- The North Carolina facility (Greenfield project) is expected operational by late Q3 or early Q4 FY26 with annual capacity to generate USD 85-90 million revenue once fully ramped.
- Domestic market shows encouraging growth led by value-added offerings, with focused marketing increasing brand visibility.
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Profitability & Margins
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Capital Expenditure Plans
- FY26 CAPEX plan is approximately ₹200 crore, including a Greenfield project in North Carolina worth ₹130 crore (USD 15 million).
- Out of the North Carolina project, ₹31 crore was spent last year; ₹49 crore more has been spent recently, totaling about half the project cost.
- Remaining CAPEX mainly includes zero liquid discharge technology implementation at Billard, expected to span FY26 and FY27.
- No major CAPEX is planned for FY27 except maintenance and potential spillover from FY26 projects.
- The North Carolina facility, with an annual production capacity of 18 million pillows, is expected to be operational by late Q3 or early Q4 FY26.
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Top-ranked in Textiles & Apparels
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Customers typically place orders around 50 days before shipment.
- Indo Count operates with a rolling forecast system for order visibility.
- Current visibility for orders covers the ongoing quarter.
- The third quarter's order book and volume outlook are similar to the second quarter.
- There is a fluid and dynamic market situation, especially with tariffs affecting demand.
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Indo Count Industries Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.1K Cr, net profit ₹24 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Indo Count Industries Ltd's management said in earlier quarters
- Q4 FY26 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were Indo Count Industries Ltd Q2 FY26 results?
Indo Count targets revenue of approximately USD 275 million by FY28 from utility bedding (USD 175 million) and brand business (USD 100 million). Indo Count expects EBITDA margins to return to 15%-16% levels on the core business within 6 to 9 months as product mix stabilizes (Page 14). - Utility bedding business targets EBITDA margins of 15%-16%, and brand business targets 17%-18% EBITDA margins (Page 16). - The utility bedding segment aims to reach $175 million in revenue by FY28, with gradual scaling and margin improvement (Page 21). - The new North Carolina facility is expected to be operational by late Q3 or early Q4 FY26, contributing $85-$90 million in annual revenues when fully ramped up (Pages 9-10). - As volumes in the core business scale up and new businesses gain traction, stronger EBITDA to PAT conversion is expected over the next two years (Page 7). - Earnings per share (EPS) for Q2 FY26 was Rs.
What is Indo Count Industries Ltd share price analysis?
Indo Count Industries Ltd currently shows a neutral. The stock trades at a P/E of 58.0 with a market cap of ₹8,743 Cr. Investors should review the full earnings analysis for detailed insights.
Is Indo Count Industries Ltd planning capital expenditure?
FY26 CAPEX plan is approximately ₹200 crore, including a Greenfield project in North Carolina worth ₹130 crore (USD 15 million).
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.