Is International Combustion (India) Ltd (505737) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that International Combustion (India) Ltd is a below average quality company .

Is International Combustion (India) Ltd (505737) undervalued or overvalued?

The key valuation ratios of International Combustion (India) Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is International Combustion (India) Ltd (505737) share price return in the past 10 years?

International Combustion (India) Ltd share price has appreciated 7.4% annually (CAGR) over the past ten years.

Is International Combustion (India) Ltd (505737) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of International Combustion (India) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

What is the share price of International Combustion (India) Ltd (505737)?

Company share prices are keep on changing according to the market conditions. The current trading price of International Combustion (India) Ltd (505737) on 11-May-2026 09:57:00 at 09:57 is 550.95.

What is the market cap of International Combustion (India) Ltd (505737)?

Market capitalization is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 11-May-2026 at 09:57, the market cap of International Combustion (India) stood at Rs. 131.84 Cr.

What is the P/E ratio of International Combustion (India)?

The latest standalone P/E ratio of International Combustion (India) as of 11-May-2026 is 39.66.

What is the P/B ratio of International Combustion (India) Ltd (505737)?

The latest standalone P/B ratio of International Combustion (India) Ltd (505737) as of 11-May-2026 is 1.02.

What is the 52-week high and low of International Combustion (India) Ltd (505737)?

The 52-week high of International Combustion (India) Ltd (505737) is Rs. 1044.00 and the 52-week low is Rs. 346.00.

What is the TTM revenue of International Combustion (India) Ltd (505737)?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of International Combustion (India) is Rs. 294.24 (Cr.).

International Combustion (India) Ltd (505737) Share Analysis – Quality, Growth & Valuation Zone & DeciZen Rating

Name: International Combustion (India) Ltd (505737)
Brand: International Combustion (India)

10 Year X-Ray :

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	-0.8%	5.2%	0.3%	6%	-0.3%	-3.8%	6.8%	13%	26.4%	13.4%	-
Value Creation Index ⓘ	-1.1	-0.6	-1.0	-0.6	-1.0	-1.3	-0.5	-0.1	0.9	0.0	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	93.3	109	108	134	124	110	169	223	297	293	294
Sales YoY Gr.	-	16.3%	-0.9%	24.6%	-7.6%	-11.6%	54.2%	31.8%	33.4%	-1.3%	-
Adj EPS ⓘ	-5.7	0.8	-15.4	10.6	-11.1	-22	16.8	34.4	83	53.2	13.9
YoY Gr.	-	NA	-2079.5%	NA	-204.4%	NA	NA	104.6%	141.4%	-35.8%	-
BVPS (₹) ⓘ	384.1	404.2	393.8	407.9	396.3	373.8	393.1	424.4	504.4	559.6	539.5
Adj Net Profit ⓘ	-1.4	0.2	-3.7	2.5	-2.7	-5.3	4	8.2	19.8	12.7	3
Cash Flow from Ops. ⓘ	-5.5	11.1	7.1	5.4	-3.6	11.3	8.4	4.8	5.8	12.4	-
Debt/CF from Ops. ⓘ	-6.4	3.2	4	4.3	-7.2	1.2	1	2.7	5.3	2.6	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	13.6%	18.8%	20.2%	-1.3%
Adj EPS ⓘ	NA	NA	46.9%	-35.8%
BVPSⓘ	4.3%	7.1%	12.5%	11%
Share Price	7.4%	24.5%	1.2%	-35.7%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	-1.5	0.2	-3.9	2.7	-2.8	-5.7	4.4	8.4	17.9	10	2.5
Op. Profit Mgn % ⓘ	1.5	3.1	2.5	7.5	2.1	-1.5	6.3	7.8	12.9	8	3.4
Net Profit Mgn % ⓘ	-1.5	0.2	-3.4	1.9	-2.1	-4.8	2.4	3.7	6.7	4.3	1.1
Debt to Equity ⓘ	0.4	0.4	0.3	0.2	0.3	0.2	0.1	0.1	0.3	0.2	-
Working Cap Days ⓘ	299	250	276	241	271	286	183	163	159	186	91
Cash Conv. Cycle ⓘ	190	154	167	135	164	178	104	93	88	112	42

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 20.16%

Return on Equity has declined versus last 3 years average to 2.50%

Sales growth is not so good in last 4 quarters at 3.17%

	Standalone	Consolidated
TTM EPS (₹)	13.9	-29.6
TTM Sales (₹ Cr.)	294	98.3
BVPS (₹) ⓘ	539.5	0
Reserves (₹ Cr.) ⓘ	128	85
P/BV ⓘ	1.02	0.00
PE ⓘ	39.66	0.00

From the Market
52 Week Low / High (₹)	346.00 / 1044.00
All Time Low / High (₹)	2.05 / 2300.00
Market Cap (₹ Cr.)	132
Equity (₹ Cr.)	2.4
Face Value (₹)	10
Industry PE ⓘ	56.1

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	93	109	108	134	124	110	169	223	297	293
Operating Expenses ⓘ +	92	105	105	124	122	111	158	205	258	270
Manufacturing Costs	8	9	10	13	12	10	14	19	23	23
Material Costs	44	53	49	63	55	55	88	119	154	156
Employee Cost	28	31	33	34	39	35	42	48	56	64
Other Costs ⓘ	11	12	14	14	16	11	15	19	25	26
Operating Profit ⓘ	1	3	3	10	2	-2	11	17	38	23
Operating Profit Margin (%)	1.5%	3.1%	2.5%	7.5%	1.7%	-1.5%	6.3%	7.8%	12.9%	8.0%
Other Income ⓘ +	2	8	3	2	2	2	1	1	2	1
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	3
Interest ⓘ	1	4	4	3	3	2	2	2	3	5
Depreciation ⓘ	4	5	5	5	5	4	5	4	5	6
Profit Before Tax ⓘ	-2	3	-4	4	-3	-7	5	12	32	16
Tax ⓘ	-1	1	-1	1	-1	-1	1	4	12	1
Profit After Tax	-1	2	-2	4	-2	-5	4	8	20	15
PAT Margin (%)	-0.6%	2.0%	-2.2%	2.7%	-1.5%	-4.7%	2.5%	3.7%	6.7%	5.1%
Adjusted EPS (₹)	-2.1	8.9	-9.8	14.9	-7.8	-21.6	17.4	34.8	83.5	62.5
Dividend Payout Ratio (%)	0%	0%	0%	6.70%	0%	0%	11.50%	8.60%	6%	6.40%

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	92	97	94	97	95	89	94	101	121	134
Share Capital ⓘ	2	2	2	2	2	2	2	2	2	2
Reserves ⓘ	89	94	92	95	92	87	92	99	118	131
Debt +	31	29	22	17	23	13	9	13	29	31
Long Term Debt	24	20	13	7	1	0	1	0	7	3
Short Term Debt	7	10	9	10	23	13	8	13	22	29
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	13	17	22	26	24	25	28	33	45	40
Others Liabilities ⓘ	19	21	20	21	16	12	16	21	29	25
Total Liabilities ⓘ	155	164	158	161	158	139	146	168	223	230
Fixed Assets
Net Fixed Assets ⓘ +	39	50	47	44	45	42	39	39	57	60
Gross Block	86	55	57	60	65	66	68	72	95	103
Accumulated Depreciation	47	5	10	15	20	24	29	33	38	43
CWIP ⓘ	6	1	0	0	0	0	0	4	3	0
Investments ⓘ	25	31	25	22	18	15	11	11	9	12
Inventories	30	30	34	39	45	43	45	53	70	66
Trade Receivables	41	39	39	41	38	29	36	46	67	73
Cash Equivalents	3	3	2	2	3	3	6	5	6	9
Others Assets ⓘ	11	11	12	13	8	8	8	10	11	10
Total Assets ⓘ	155	164	158	161	158	139	146	168	223	230

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	-6	11	7	5	-4	11	8	5	6	12
PBT ⓘ	-2	3	-4	4	-3	-7	5	12	32	16
Adjustment ⓘ	3	2	7	6	7	5	6	6	9	11
Changes in Working Capital ⓘ	-8	7	4	-5	-6	13	-2	-11	-29	-8
Tax Paid ⓘ	1	0	-0	-0	-1	-0	-1	-2	-6	-4
Cash Flow From Investing Activity ⓘ +	-15	-8	4	3	5	3	1	-9	-19	-8
Capex	-17	-10	-4	-2	-6	-1	-2	-10	-21	-6
Net Investments	2	2	8	4	4	4	3	1	2	-5
Others ⓘ	0	0	0	0	7	0	0	0	0	3
Cash Flow From Financing Activity ⓘ +	21	-4	-11	-8	-0	-14	-7	2	14	-5
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	21	-2	-6	-6	-10	-2	-0	-1	9	-5
Interest Paid ⓘ	-1	-4	-4	-3	-3	-2	-2	-2	-3	-5
Dividend Paid ⓘ	-0	-0	-0	-0	-0	-0	-0	-0	-1	-1
Others ⓘ	1	2	-1	1	13	-10	-5	5	9	7
Net Cash Flow ⓘ	1	-0	-0	-0	1	-0	3	-3	1	0

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	-0.56	2.27	-2.46	3.72	-1.95	-5.61	4.53	8.5	17.98	11.76
ROCE (%)	-0.77	5.2	0.29	5.99	-0.3	-3.83	6.77	13	26.42	13.42
Asset Turnover Ratio	0.69	0.74	0.67	0.84	0.78	0.74	1.18	1.42	1.51	1.29
PAT to CFO Conversion(x)	N/A	5.5	N/A	1.25	N/A	N/A	2	0.63	0.3	0.8
Working Capital Days
Receivable Days	143.20	123.10	129.90	108.20	116.70	112.70	69.90	67.30	70	87.20
Inventory Days	109.20	92.30	108.20	100	125.10	147.60	95.70	81	75.90	85
Payable Days	119.30	104.20	149.20	138.90	164.70	163.90	109.80	93.90	92.50	99.40

About International Combustion (India) Ltd

International Combustion commenced operations in the year 1936 based in Calcutta as a trading house representing the interests of International Combustion, U.K. In 1974 the company changed its status from Private to Public Limited Company.

In 1961, the company started its manufacturing activities, and presently has three manufacturing divisions :

Heavy Engineering Division
Polymer Division
Bauer Division

From a modest beginning with manufacture of mineral grinding mills, the company serves all the major core industries with a specialised range of products.Foreign technical collaborations and licensing agreements with world leaders in the respective product groups have ensured manufacture of premium quality equipment.

In 1989 the company entered into a collaboration with Gummi Kuper GmbH of West Germany for manufacture of rubber and polyourethane screen decks and liners. While in 1995 the company also entered into a new licence agreement with Mogensen GmbH & Co. of Germany for manufacture of 'flip flop' screens, highly specialised equipment used for grinding moist and sticky material such as limestone lignite etc.

Fully equipped manufacturing facilities at Calcutta, Nagpur and Aurangabad ensure total control over production and product quality.

Their strong Marketing and Service organization spread over the country assures quick and direct contact with customers during all phases - consultation, contractual negotiation, followed by execution, and after sales service.

Product range of the company includes:

Heavy Engineering Division:

Vibratory Equipment :

The Total Programme
Circular and Linear Motion Screens
Vibrating Feeders
Omni Screens
Mogensen Sizers Flip Flop Screens
Exciters Accessories

Bulk Material Handling -Grinding Mills Drying System

Bauer Division - Under license from Danfoss Bauer, Germany, IC offers a comprehensive range of Geared Motors, Gear Boxes and Electric Motors.

B- 2000 Series
Fact Sheet

Polymer Division

Clamp on system
Tensioned decks
Flat screen decks
Modular screen decks

Clientele:

Essar Steel
Kudremukh Iron Ore Company
Southern Iron & Steel
Indian Iron and Steel
Lloyds Metals & Ferro Alloys
Tata Iron & Steel Co.
Ispat Metallics
Nippon Denro Ispat
Vikram Ispat
Ferro Alloy Corporation
ACC NIHON Castings
DCM Engineering
India Charge Chrome
Amtek Industries
Ghatge Patil Industries

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

International Combustion (India) Ltd (505737) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

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