International Conveyors Q4 FY22 Share Price & Earnings Call Analysis
- Market cap
- ₹475 Cr
- P/E
- 3.49
- ROE
- 18.73%
- PEG
- 0.10
- Price to sales
- 2.23
- Debt to equity
- 0.17
- 52W high / low
- ₹97.0 / ₹60.1
- Sales growth (5Y)
- 4.72%
- EBITDA margin
- 19.69%
- Net profit margin
- 34.54%
- Promoter holding
- 70.23%
- Sales (last year)
- ₹213 Cr
Incorporated in 1973, International Conveyors Ltd is engaged in the manufacturing of Conveyor Belting[1]
Guidance scorecard · Q4 FY22 call
What International Conveyors Ltd's management guided
and where it ranks in Industrial Manufacturing
RevenueQ4 FY22 call
10–20%- There is confidence in sustaining growth due to untapped blocks in coal and potash mining for at least the next 10-15 years.
- The company is diversifying its customer base beyond coal and potash into gypsum, cement, crushers, and other industries.
- Long-term contracts with customers extend typically for 5-7 years, providing revenue visibility.
- Current plant utilization is around 70%, with a target to increase to 85%, indicating room for volume expansion.
2 more points from International Conveyors Ltd's call on revenue
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MarginsQ4 FY22 call
FlatSee what International Conveyors Ltd said on margins — free account, 30 seconds.
CapexQ4 FY22 call
None planned- For the financial year 2022-2023, International Conveyors Limited does not foresee any immediate CAPEX plans.
- The Company currently operates its plants at around 70% efficiency and aims to increase utilization to approximately 85%.
- There is significant headroom available to meet market demand with existing capacity; hence, no urgent need for new CAPEX.
2 more points from International Conveyors Ltd's call on capex
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FundraisingQ4 FY22 call
None plannedSee what International Conveyors Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY22 call
Rising- Orders largely consist of a mix of replacement and new demand, roughly a 50-50 split.
- The management anticipates quite good revenue growth for the coming year, indicating a positive outlook for order inflow.
- Plant utilization is currently around 65-70%, with targets to increase to 85%, suggesting room for increased order fulfillment.
- The company holds long-term contracts with most customers, typically ranging between 5 to 7 years, providing stability in their order book.
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 Industrial Manufacturing
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Manufacturing companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹1,207 Cr | 111.0 | |
| 2 | 40%+ | Up 0–2% | ₹549 Cr | 33.8 | |
| 3 | 40%+ | Flat | ₹8,076 Cr | 94.4 | |
| 4 | 40%+ | Flat | ₹3,732 Cr | 81.2 | |
| 5 | 40%+ | Flat | ₹2,580 Cr | 61.2 | |
| 6 | 40%+ | Flat | ₹743 Cr | 43.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Manufacturing rankingFinancials of International Conveyors Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of International Conveyors Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 48.83 | 42.66 | 42.76 | 22.55 | 25.96 | 40.39 | 30.77 | 26.09 | 54.60 | 35.46 | 45.30 | 35.34 | 97.03 |
| Expenses + | 39.67 | 36.62 | 33.28 | 18.87 | 23.87 | 34.73 | 25.86 | 25.71 | 44.08 | 30.05 | 34.49 | 29.97 | 78.40 |
| Operating Profit | 9.16 | 6.04 | 9.48 | 3.68 | 2.09 | 5.66 | 4.91 | 0.38 | 10.52 | 5.41 | 10.81 | 5.37 | 18.63 |
| OPM % | 18.76% | 14.16% | 22.17% | 16.32% | 8.05% | 14.01% | 15.96% | 1.46% | 19.27% | 15.26% | 23.86% | 15.20% | 19.20% |
| Other Income + | 4.02 | 14.34 | 21.58 | 22.55 | 8.16 | 42.38 | 31.90 | 29.21 | 1.47 | 65.90 | -32.33 | 35.65 | -10.45 |
| Interest | 1.20 | 2.18 | 2.48 | 2.20 | 2.09 | 2.75 | 2.18 | 1.64 | 1.85 | 1.87 | 2.64 | 2.08 | 1.84 |
| Depreciation | 0.57 | 0.47 | 0.47 | 0.49 | 0.51 | 0.43 | 0.44 | 0.45 | 0.42 | 0.38 | 0.39 | 0.40 | 0.40 |
| Profit before tax | 11.41 | 17.73 | 28.11 | 23.54 | 7.65 | 44.86 | 34.19 | 27.50 | 9.72 | 69.06 | -24.55 | 38.54 | 5.94 |
| Tax % | 31.03% | 20.42% | 18.53% | 17.97% | 20.65% | 28.96% | 21.59% | 27.27% | -34.05% | 24.60% | -29.29% | 22.99% | 32.83% |
| Net Profit + | 7.87 | 14.11 | 22.90 | 19.31 | 6.07 | 31.87 | 26.81 | 20.00 | 13.03 | 52.07 | -17.36 | 29.68 | 3.99 |
| EPS in Rs | 1.19 | 2.23 | 3.61 | 3.05 | 0.96 | 5.03 | 4.23 | 3.16 | 2.06 | 8.22 | -2.74 | 4.65 | 0.63 |
Financials of International Conveyors Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 96 | 84 | 60 | 56 | 86 | 99 | 169 | 205 | 215 | 134 | 152 | 213 |
| Expenses + | 91 | 86 | 54 | 59 | 86 | 88 | 149 | 186 | 186 | 113 | 130 | 173 |
| Operating Profit | 5 | -2 | 6 | -3 | -0 | 11 | 20 | 20 | 29 | 21 | 21 | 40 |
| OPM % | 5% | -2% | 10% | -5% | -0% | 11% | 12% | 10% | 14% | 16% | 14% | 19% |
| Other Income + | 4 | 6 | 8 | 8 | 9 | 4 | 9 | 14 | 14 | 67 | 105 | 59 |
| Interest | 5 | 6 | 6 | 7 | 10 | 10 | 5 | 4 | 4 | 9 | 8 | 8 |
| Depreciation | 5 | 3 | 3 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | -1 | -5 | 5 | -4 | -4 | 3 | 22 | 27 | 37 | 77 | 116 | 89 |
| Tax % | 269% | -13% | 34% | 46% | 41% | -98% | 25% | 40% | 23% | 19% | 21% | 23% |
| Net Profit + | -3 | -4 | 3 | -7 | -6 | 6 | 17 | 16 | 29 | 62 | 92 | 68 |
| EPS in Rs | -0.44 | -0.66 | 0.49 | -1.10 | -0.85 | 0.94 | 2.46 | 2.40 | 4.36 | 9.84 | 14.47 | 10.72 |
| Dividend Payout % | -57% | -8% | 10% | -5% | -6% | 21% | 41% | 42% | 25% | 11% | 5% | 0% |
Financials of International Conveyors Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 6 | 6 | 6 | 6 |
| Reserves | 68 | 62 | 117 | 143 | 140 | 116 | 147 | 210 | 209 | 267 | 355 | 418 |
| Borrowings + | 58 | 58 | 40 | 65 | 102 | 63 | 46 | 20 | 65 | 125 | 86 | 73 |
| Other Liabilities + | 24 | 11 | 11 | 15 | 18 | 22 | 28 | 69 | 31 | 42 | 60 | 71 |
| Total Liabilities | 157 | 138 | 176 | 230 | 266 | 207 | 228 | 305 | 311 | 439 | 508 | 569 |
| Fixed Assets + | 24 | 23 | 21 | 19 | 17 | 15 | 17 | 17 | 16 | 15 | 14 | 15 |
| CWIP | 3 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 42 | 42 | 101 | 143 | 170 | 102 | 147 | 119 | 157 | 252 | 299 | 328 |
| Other Assets + | 88 | 71 | 52 | 67 | 78 | 89 | 64 | 168 | 138 | 172 | 195 | 226 |
| Total Assets | 157 | 138 | 176 | 230 | 266 | 207 | 228 | 305 | 311 | 439 | 508 | 569 |
Financials of International Conveyors Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 9 | 12 | 16 | -14 | 5 | 3 | 49 | 37 | 4 | 12 | 15 | 35 |
| Cash from Investing Activity + | -8 | -3 | 7 | -4 | -32 | 46 | -26 | 1 | -18 | -48 | 43 | -5 |
| Cash from Financing Activity + | -3 | -8 | -24 | 18 | 26 | -49 | -24 | -37 | 15 | 34 | -54 | -25 |
| Net Cash Flow | -2 | 1 | -1 | 0 | -1 | 0 | -0 | 0 | 0 | -1 | 4 | 4 |
| Free Cash Flow | 7 | 11 | 15 | -14 | -8 | 3 | 47 | 34 | 3 | 11 | 15 | 31 |
| CFO/OP | 217% | -753% | 269% | 513% | -2,264% | 35% | 270% | 231% | 42% | 87% | 102% | 120% |
Financials of International Conveyors Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 96 | 69 | 50 | 141 | 110 | 107 | 36 | 45 | 29 | 56 | 47 | 45 |
| Inventory Days | 159 | 128 | 198 | 138 | 74 | 220 | 90 | 88 | 71 | 161 | 85 | 84 |
| Days Payable | 93 | 51 | 75 | 128 | 80 | 108 | 77 | 111 | 69 | 113 | 103 | 87 |
| Cash Conversion Cycle | 162 | 146 | 173 | 151 | 104 | 220 | 50 | 22 | 31 | 105 | 30 | 42 |
| Working Capital Days | -14 | -37 | -19 | -131 | -253 | -57 | -40 | 130 | 47 | 25 | 155 | 646 |
| ROCE % | 3% | 0% | 7% | 1% | 3% | 7% | 14% | 14% | 16% | 24% | 27% | 21% |
Momentum score · price trend
28 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −16.8% | 41% |
| Last 6 months | +4.5% | 61% |
| Last 3 months | +9.2% | 79% |
The price is 30.7% below its all-time high of ₹117.49 (9 Feb 2024). Stocks more than 20% below their peak have their score halved, so 57 became 28.
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 International Conveyors Ltd: 0.4 × 41 + 0.4 × 61 + 0.2 × 79 = 57, halved to 28 because the price is more than 20% below its all-time high.
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 28 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.
Continue your research
What International Conveyors Ltd's management said in earlier quarters
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