Indo Count Industries Q1 FY27 Share Price & Earnings Call Analysis

₹449.30+4.95% today

Market cap: ₹8,899 Cr
P/E: 58.98
ROE: 5.52%
PEG: -2.61
Price to sales: 2.03
Debt to equity: 0.57
52W high / low: ₹477 / ₹224
Sales growth (5Y): 10.45%
EBITDA margin: 9.67%
Net profit margin: 3.09%
Promoter holding: 58.74%
Sales (last year): ₹4,390 Cr

All 12 ratios ↓

Indo Count Industries Limited (ICIL) is engaged in the home textiles & bedding industry. The company is a manufacturer and exporter of bed sheets, bed linen and quilts. [1] It is the largest global bed linen player.

Guidance scorecard · Q1 FY27 call

What Indo Count Industries Ltd's management guided
and where it ranks in Textiles & Apparels

Revenue20–40%MarginsFlat CapexWhat management said FundraisingWhat management said Order bookWhat management said

RevenueQ1 FY27 call

20–40%

Indo Count targets FY27 core business volumes of 105 to 110 million meters, with confidence in achieving this despite earlier container constraints.
Core business revenue guidance for FY27 is approximately INR4,000 crores.
New business (utility bedding and branded business) aims for INR1,500 crores revenue in FY27, on track with INR387 crores achieved in Q1.
The company has a long-term goal of INR8,000 crores revenue by CY2028, supported by continued core business growth and USD275 million new business ambition.
Non-U.S. markets expected to grow over 20% in FY27, driven by FTAs with U.K., EU, and other countries.

2 more points from Indo Count Industries Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

Indo Count targets stabilizing long-term margins at 15-16%, with flexibility to recalibrate based on business progress.
Revenue guidance for FY27 includes INR5,500 crores with approximately 13% EBITDA margins.
Company aims for volume growth of 105-110 million meters in core business and INR4,000 crores core business revenue.
New business segment projected to achieve INR1,500 crores revenue in FY27, on track with a USD275 million ambition by 2028.
PAT grew 62% Y-o-Y in Q1 FY27 with EPS at INR3.19; sequential PAT increased 2.5x driven by operational efficiency and lower finance costs.

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Full Q1 FY27 analysis

CapexQ1 FY27 call

New greenfield facility in North Carolina started operations in January 2026, contributing to utility bedding production.
The company is confident about increasing scale of operations in existing plants such as Bhilad to make up production lost due to disruption.
The new business segment, including branded business and utility bedding, is seeing investments to scale up to a targeted USD 100 million revenue over the next three years.

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FundraisingQ1 FY27 call

The company discussed refinancings and interest costs.
They highlighted maintaining competitive interest rates (around 6%-7%) and stable interest cost guidance (INR 120 crores annual run rate).
Focus remains on growing existing businesses and scaling new business lines, without reference to fresh capital raising.

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Full Q1 FY27 analysis

Order bookQ1 FY27 call

The company is confident of achieving its guidance of 105 to 110 million meters in volumes and around INR4,000 crores in core business revenue for FY27.
Management believes they can serve all customer orders despite recent operational disruptions (e.g., at Bhilad plant) and are working to make up lost ground.
Customer offtake is expected to remain positive, supporting volume guidance.
The tariff situation and FTAs have positioned India well, with steady order flows and no lost customers despite prior tariff issues.

2 more points from Indo Count Industries Ltd's call on the order book

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Full Q1 FY27 analysis

Full Textiles & Apparels ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Textiles & Apparels
on management's own guidance

See all potential multibaggers Where does Indo Count Industries Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Textiles & Apparels companies ranked on guidance

#	Company	Revenue guided	Margin guided	Market cap	P/E
1		40%+	Up 2%+	₹560 Cr	90.6
2		40%+	Flat	₹421 Cr	27.7
3	Sumeet Industrie	20–40%	Up 2%+	₹751 Cr	30.3
4		20–40%	Up 2%+	₹305 Cr	20.4
5		20–40%	Up 0–2%	₹2,823 Cr	17.5
6		20–40%	Up 0–2%	₹1,225 Cr	69.7

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Financials of Indo Count Industries Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Indo Count Industries Ltd

Quarterly Results

Quarter-by-quarter operating performance

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales +	657	807	741	1,009	713	1,093	941	1,036	1,152	1,023	959	1,062	1,063
Expenses +	584	663	616	844	609	928	796	879	1,006	941	848	958	972
Operating Profit	73	144	125	165	104	165	145	157	146	82	111	104	91
OPM %	11%	18%	17%	16%	15%	15%	15%	15%	13%	8%	12%	10%	9%
Other Income +	5	3	5	25	14	0	9	9	16	6	9	19	11
Interest	20	7	15	18	18	20	21	30	36	36	31	32	30
Depreciation	16	16	19	20	22	22	25	25	32	36	38	39	39
Profit before tax	41	123	97	151	79	124	108	110	95	16	51	52	34
Tax %	9%	23%	24%	24%	26%	26%	28%	27%	25%	28%	23%	25%	27%
Net Profit +	38	95	74	114	58	92	78	80	71	11	39	39	24
EPS in Rs	1.90	4.78	3.72	5.77	2.93	4.64	3.93	4.06	3.57	0.57	1.97	1.97	1.23

Financials of Indo Count Industries Ltd

Profit & Loss

Annual income statement trend

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales +	1,468	1,717	2,063	2,153	1,859	1,934	2,080	2,519	2,842	3,012	3,557	4,151	4,106
Expenses +	1,306	1,468	1,646	1,828	1,696	1,778	1,897	2,141	2,403	2,556	2,995	3,616	3,719
Operating Profit	161	249	417	325	163	156	183	379	439	455	562	535	388
OPM %	11%	14%	20%	15%	9%	8%	9%	15%	15%	15%	16%	13%	9%
Other Income +	28	39	48	103	99	10	-44	32	135	30	41	38	45
Interest	50	65	55	42	35	36	39	28	47	62	70	123	129
Depreciation	20	16	30	33	33	35	43	43	41	65	83	117	153
Profit before tax	120	207	379	353	194	95	57	340	486	359	450	334	152
Tax %	8%	30%	34%	34%	36%	37%	-29%	27%	26%	23%	25%	26%
Net Profit +	110	146	251	232	125	60	73	249	359	277	338	246	114
EPS in Rs	6.20	7.38	12.74	11.76	6.39	3.05	3.74	12.70	18.17	13.97	17.06	12.42	5.74
Dividend Payout %	0%	0%	3%	7%	13%	20%	16%	12%	11%	14%	13%	16%

Financials of Indo Count Industries Ltd

Balance Sheet

Capital structure and asset base

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	35	39	39	39	39	39	39	39	39	40	40	40	40
Reserves	254	382	591	807	917	935	947	1,245	1,551	1,753	2,049	2,238	2,269
Borrowings +	437	386	409	311	384	337	349	577	1,319	876	956	1,449	1,243
Other Liabilities +	285	435	352	367	359	313	361	433	352	379	524	533	693
Total Liabilities	1,011	1,242	1,392	1,524	1,699	1,625	1,696	2,296	3,262	3,048	3,569	4,260	4,245
Fixed Assets +	346	388	484	533	543	574	575	561	631	1,110	1,355	1,890	1,903
CWIP	0	15	11	12	24	16	6	8	24	183	35	50	108
Investments	0	0	0	0	0	46	0	167	2	143	133	135	155
Other Assets +	664	839	898	979	1,132	988	1,115	1,560	2,606	1,611	2,046	2,185	2,079
Total Assets	1,011	1,242	1,392	1,524	1,699	1,625	1,696	2,296	3,262	3,048	3,569	4,260	4,245

Financials of Indo Count Industries Ltd

Cash Flows

Operating, investing and financing cash movement

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	34	236	153	216	42	215	140	-20	-37	755	146	394
Cash from Investing Activity +	2	-103	-113	-78	-52	-101	16	-189	-258	-474	-98	-485
Cash from Financing Activity +	-13	-114	-61	-148	17	-106	-40	185	646	-574	-47	105
Net Cash Flow	23	19	-21	-10	7	8	116	-23	352	-293	1	14
Free Cash Flow	16	151	31	128	-14	155	107	-56	-489	416	11	143
CFO/OP	36%	115%	57%	93%	59%	162%	90%	15%	24%	185%	44%	92%

Financials of Indo Count Industries Ltd

Ratios

Working capital efficiency and return ratios

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	27	27	43	53	56	48	43	75	63	48	46	52
Inventory Days	142	148	159	149	206	188	168	206	288	240	275	229
Days Payable	85	96	67	61	67	51	41	67	45	57	74	46
Cash Conversion Cycle	84	79	136	141	196	185	169	214	307	231	248	236
Working Capital Days	-0	15	44	73	106	91	64	89	44	61	74	58
ROCE %	26%	39%	47%	36%	18%	10%	15%	23%	22%	15%	18%	14%

Guidance history

How Indo Count Industries Ltd's guidance has moved, call by call

Call	Revenue	Margins	Capex	Fundraising	Order book
Q1 FY27 call →	20–40%	Flat	—	—	—
Q4 FY26 call →	20–40%	Flat	Planned	Planned	—
Q3 FY26 call →	20–40%	Up 0–2%	Planned	None planned	—
Q2 FY26 call →	10–20%	Flat	Planned	—	—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

Momentum score · price trend

87 out of 100 — Strengthening

Over the past year its share price has done better than most of the stocks we track.

Period	Share price change	Better than … of 1,910 stocks
Last 12 months	+57.5%	87%
Last 6 months	+62.0%	91%
Last 3 months	+11.6%	81%

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Indo Count Industries Ltd: 0.4 × 87 + 0.4 × 91 + 0.2 × 81 = 87.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

What Indo Count Industries Ltd's management said in earlier quarters

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