Intl. Combustion Share Price ₹481

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

Financials of Intl. Combustion

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 +	59.68	64.71	68.80	73.35	73.36	81.27	59.53	63.83	82.79	86.83	59.89	75.33	72.19
Expenses +	53.48	58.20	57.80	63.95	63.28	73.43	54.70	61.10	73.98	79.76	58.55	73.11	72.68
Operating Profit	6.20	6.51	11.00	9.40	10.08	7.84	4.83	2.73	8.81	7.07	1.34	2.22	-0.49
OPM %	10.39%	10.06%	15.99%	12.82%	13.74%	9.65%	8.11%	4.28%	10.64%	8.14%	2.24%	2.95%	-0.68%
Other Income +	0.20	0.31	0.32	0.26	0.17	1.10	0.34	0.40	2.77	0.37	0.43	0.24	0.39
Interest	0.54	0.51	0.84	0.84	0.77	0.66	1.57	1.30	1.22	0.91	1.04	0.70	0.77
Depreciation	1.05	1.07	1.09	1.23	1.26	1.40	1.48	1.57	1.61	1.70	1.66	1.63	1.73
Profit before tax	4.81	5.24	9.39	7.59	8.22	6.88	2.12	0.26	8.75	4.83	-0.93	0.13	-2.60
Tax %	29.52%	33.59%	39.08%	33.86%	32.85%	46.22%	16.51%	19.23%	29.49%	-40.58%	0.00%	15.38%	2.31%
Net Profit +	3.40	3.48	5.72	5.02	5.51	3.70	1.77	0.21	6.17	6.79	-0.93	0.12	-2.65
EPS in Rs	14.22	14.56	23.93	21.00	23.05	15.48	7.40	0.88	25.81	28.41	-3.89	0.50	-11.09

Financials of Intl. Combustion

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 +	99	89	93	109	108	134	124	110	169	223	297	293	294
Expenses +	95	85	92	105	105	124	121	111	158	205	258	270	284
Operating Profit	3	4	1	3	3	10	3	-1	11	17	38	23	10
OPM %	3%	4%	2%	3%	2%	7%	2%	-1%	6%	8%	13%	8%	3%
Other Income +	2	2	2	8	3	2	2	1	1	1	2	4	1
Interest	1	1	1	4	4	3	3	2	2	2	3	5	3
Depreciation	4	5	4	5	5	5	5	4	5	4	5	6	7
Profit before tax	1	1	-2	3	-4	4	-3	-7	5	12	32	16	1
Tax %	-19%	-56%	-71%	21%	-35%	14%	-41%	-22%	21%	31%	38%	9%
Net Profit +	1	1	-1	2	-2	4	-2	-5	4	8	20	15	3
EPS in Rs	3.35	4.10	-2.13	8.95	-9.83	14.89	-7.82	-21.63	17.36	34.77	83.46	62.54	13.93
Dividend Payout %	45%	37%	0%	0%	0%	7%	0%	0%	12%	9%	6%	6%

Financials of Intl. Combustion

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	2	2	2	2	2	2	2	2	2	2	2	2	2
Reserves	91	90	89	94	92	95	92	87	92	99	118	131	129
Borrowings +	3	13	35	35	28	23	26	14	9	13	31	33	21
Other Liabilities +	29	31	25	32	36	41	39	39	46	55	72	64	69
Total Liabilities	125	136	152	164	158	161	160	142	149	169	223	230	221
Fixed Assets +	29	28	39	50	47	44	45	42	39	39	57	60	59
CWIP	1	1	6	1	0	0	0	0	0	4	3	0	1
Investments	22	26	25	31	25	22	18	15	11	11	9	12	13
Other Assets +	73	81	82	83	86	95	96	86	98	115	154	158	149
Total Assets	125	136	152	164	158	161	160	142	149	169	223	230	221

Financials of Intl. Combustion

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 +	6	-3	-6	11	7	5	-4	11	8	5	6	12
Cash from Investing Activity +	-1	-6	-15	-8	4	3	5	3	1	-9	-19	-8
Cash from Financing Activity +	-6	9	21	-4	-11	-8	-0	-14	-7	2	14	-5
Net Cash Flow	-1	0	1	-0	-0	-0	1	-0	3	-3	1	0
Free Cash Flow	5	-9	-23	1	3	4	-10	10	6	-5	-15	7
CFO/OP	210%	-81%	-429%	329%	272%	55%	-97%	-829%	89%	40%	30%	71%

Financials of Intl. Combustion

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	125	161	162	130	131	111	113	97	77	76	83	90
Inventory Days	203	302	245	258	255	229	300	287	189	164	166	155
Days Payable	114	151	107	148	167	149	160	167	115	103	106	94
Cash Conversion Cycle	214	313	301	239	220	191	254	217	151	137	143	152
Working Capital Days	143	174	167	97	96	83	82	91	76	65	65	71
ROCE %	-0%	-0%	-2%	5%	0%	6%	-0%	-4%	7%	13%	26%	12%

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