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International Combustion (India) Ltd (505737)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 505737 NSE: Engineering - Industrial Equipments | Small Cap | International Combus Share Price

₹406.65 0.65 (0.16%)

As on 16-Oct'26 13:37

International Combustion (India) Ltd (505737)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 505737 NSE: Engineering - Industrial Equipments | Small Cap | International Combus Share Price

₹406.65 0.65 (0.16%)

As on 16-Oct'26 13:37

Key Metrics
Valuation Multiples
Market Cap
₹97 Cr.
Current Price
₹406.7
52-Week Low / High
₹346 / 824
TTM EPS
₹-22.8
TTM Sales
₹299 Cr.
Book Value per Share
₹530.3
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
54.3
Price to Book (P/B)
0.77
Lower than its 5-year historical median
Price to Sales (P/S)
0.32
Lower than its 5-year historical median
EV/EBITDA
28.59
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-1.81%
Underperforms industry median
Return on Capital Employed (ROCE)
0.17%
Underperforms industry median
Return on Assets (ROA)
-1.03%
Operating Profit Margin
2.2%
Net Profit Margin
-0.82%
Gross Profit Margin
1.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
0.14%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-73.11%
Net Profit Growth (1 Year)
-
-115.99%
Asset Quality
Promoter Holding
52.88%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹124 Cr.
Equity
₹2.4 Cr.
Face Value
₹10
All Time Low / High
₹2.05 / 2300.00

International Combustion (India) stock performance

Key Ratios
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M-Cap below 100cr DeciZen not available

Q.1 Is International Combustion (India) Ltd a good quality company?
International Combustion (India) Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does International Combustion (India) Ltd performance compare with that of its Peers?
Q.1 Revenue growth of International Combustion (India) Ltd vs industry peers?
International Combustion (India) Ltd revenue CAGR is 21.78%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of International Combustion (India) Ltd?
Promoters hold 52.88% of the International Combustion (India) Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of International Combustion (India) Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 0.7% based on the current price.

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)

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

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

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
International Combustion (India) Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ5.2%0.3%6%-0.3%-3.8%6.8%13%26.4%13.4%0.2%-
Value Creation
Index ⓘ
-0.6-1.0-0.6-1.0-1.3-0.5-0.10.90.0-1.0-

Growth Parameters ⓘ

Sales ⓘ109108134124110169223297293293299
Sales YoY Gr.--0.9%24.6%-7.6%-11.6%54.2%31.8%33.4%-1.3%0.1%-
Adj EPS ⓘ0.8-15.410.6-11.1-2216.834.48353.2-8-22.8
YoY Gr.--2079.5%NA-204.4%NANA104.6%141.4%-35.8%-115.1%-
BVPS (₹) ⓘ404.2393.8407.9396.3373.8393.1424.4504.4559.6546.9530.3
Adj Net
Profit ⓘ
0.2-3.72.5-2.7-5.348.219.812.7-1.9-5
Cash Flow from Ops. ⓘ11.17.15.4-3.611.38.44.85.812.422.9-
Debt/CF from Ops. ⓘ3.244.3-7.21.212.75.32.61.2-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ11.7%21.8%9.7%0.1%
Adj EPS ⓘ-229.5%NA-161.5%-115.1%
BVPSⓘ3.4%7.9%8.8%-2.3%
Share Price 0.8% 12.1% -31.3% -47.6%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ
0.2-3.92.7-2.8-5.74.48.417.910-1.5-4.2
Op. Profit
Mgn % ⓘ
3.12.57.52.1-1.56.37.812.982.20.8
Net Profit
Mgn % ⓘ
0.2-3.41.9-2.1-4.82.43.76.74.3-0.7-1.8
Debt to
Equity ⓘ
0.40.30.20.30.20.10.10.30.20.2-
Working Cap
Days ⓘ
25027624127128618316315918618492
Cash Conv.
Cycle ⓘ
154167135164178104938811211141

Valuation of International Combus - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales108.58107.64134.16123.95109.55168.89222.56296.78292.98293.40
Operating Expenses ⓘ + 105.25104.96124.15121.78111.21158.31205.23258.47269.55287.10
Manufacturing Costs9.079.8312.5911.579.9914.1019.0622.9223.3424.22
Material Costs53.1848.6263.0555.2454.8787.61118.65154.26156.10156.72
Employee Cost 30.6932.7934.0638.9134.8741.5448.2955.8463.8473.77
Other Costs ⓘ 12.3113.7114.4516.0711.4815.0719.2225.4526.2732.39
Operating Profit ⓘ 3.332.6810.012.17-1.6610.5817.3338.3223.436.30
Operating Profit Margin (%) 3.1%2.5%7.5%1.7%-1.5%6.3%7.8%12.9%8.0%2.1%
Other Income ⓘ + 8.472.932.412.361.711.070.991.851.461.26
Exceptional Items ⓘ 000000002.81-0.51
Interest ⓘ 4.023.973.162.812.311.692.033.1153.46
Depreciation ⓘ 5.075.245.144.884.354.684.194.996.356.79
Profit Before Tax ⓘ 2.71-3.604.12-3.17-6.615.2712.1032.0716.35-3.20
Tax ⓘ 0.57-1.250.56-1.30-1.451.123.7912.111.40-0.80
Profit After Tax 2.14-2.353.56-1.87-5.174.158.3119.9514.95-2.39
PAT Margin (%) 2.0%-2.2%2.7%-1.5%-4.7%2.5%3.7%6.7%5.1%-0.8%
Adjusted EPS (₹)8.9-9.814.9-7.8-21.617.434.883.562.5-10.0
Dividend Payout Ratio (%)0%0%6.70%0%0%11.50%8.60%6%6.40%0%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 96.6194.1297.4994.7389.3593.97101.44120.56133.76130.73
Share Capital ⓘ 2.392.392.392.392.392.392.392.392.392.39
Reserves ⓘ 94.2291.7395.1092.3486.9691.5799.05118.17131.37128.34
Debt +29.1721.7916.7823.1412.788.5912.9829.1731.4426.90
Long Term Debt19.6213.187.080.5400.8807.192.540
Short Term Debt9.558.619.7022.6012.787.7212.9821.9928.8926.90
Minority Interest0000000000
Trade Payables17.4622.3025.6824.1825.0927.5933.4344.7940.2147.53
Others Liabilities ⓘ 21.0819.8221.2415.9912.1515.7120.6028.8524.9728.96
Total Liabilities ⓘ 164.32158.03161.20158.04139.37145.86168.46223.37230.37234.12

Fixed Assets

Net Fixed Assets ⓘ +50.4047.0244.3545.3541.5438.9539.4656.9859.7658.70
Gross Block55.3656.9959.5165.1865.6967.6672.1894.54102.98108.61
Accumulated Depreciation4.969.9715.1619.8324.1428.7132.7137.5643.2249.91
CWIP ⓘ 0.700.39000.0403.552.710.260.60
Investments ⓘ 30.6224.5521.7318.0514.5811.2811.219.3012.4013.11
Inventories30.3834.0539.4945.4643.1445.4553.2870.1466.3464.55
Trade Receivables38.6038.7740.7638.4829.1835.5446.4967.3372.5868.32
Cash Equivalents 2.551.562.363.062.976.304.625.568.6214.64
Others Assets ⓘ 11.0711.6912.517.657.928.359.8311.3510.4114.20
Total Assets ⓘ 164.32158.03161.20158.04139.37145.86168.46223.37230.37234.12
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 11.067.125.44-3.6211.258.394.835.8412.3522.86
PBT ⓘ 2.71-3.604.12-3.17-6.615.2712.1032.0716.35-3.20
Adjustment ⓘ 1.577.036.376.534.945.845.658.7010.949.38
Changes in Working Capital ⓘ 6.683.88-5.03-5.8612.95-1.61-10.82-29.34-7.9218.12
Tax Paid ⓘ 0.10-0.19-0.02-1.13-0.03-1.12-2.09-5.60-4.21-1.44
Cash Flow From Investing Activity ⓘ + -7.573.832.694.893.131.31-9.16-18.94-7.60-12.48
Capex -9.97-4.16-1.66-6.18-1.03-2.03-9.90-21.03-5.68-6.60
Net Investments 2.257.864.324.364.063.170.631.91-4.88-6.49
Others ⓘ 0.150.120.036.710.100.170.110.192.960.60
Cash Flow From Financing Activity ⓘ + -3.90-11.03-8.23-0.20-14.49-6.911.7414.24-4.74-10.09
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ -2.07-6.06-6.08-9.93-2.29-0.14-1.029.05-5.48-3.68
Interest Paid ⓘ -4-4-3.22-2.86-2.35-1.69-2.03-3.11-5-3.46
Dividend Paid ⓘ -0.02-0.02-0.02-0.31-0.03-0.01-0.48-0.71-1.17-0.94
Others ⓘ 2.20-0.941.1012.90-9.82-5.075.2796.91-2
Net Cash Flow ⓘ -0.41-0.08-0.101.07-0.112.79-2.591.1400.29
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)2.27-2.463.72-1.95-5.614.538.517.9811.76-1.81
ROCE (%)5.20.295.99-0.3-3.836.771326.4213.420.17
Asset Turnover Ratio0.740.670.840.780.741.181.421.511.291.26
PAT to CFO Conversion(x)5.17N/A1.53N/AN/A2.020.580.290.83N/A
Working Capital Days
Receivable Days123.10129.90108.20116.70112.7069.9067.307087.2087.60
Inventory Days92.30108.20100125.10147.6095.708175.908581.40
Payable Days104.20149.20138.90164.70163.90109.8093.9092.5099.40102.20

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International Combustion (India) Ltd FAQs

The current trading price of International Combus on 16-Oct-2026 13:37 is ₹406.6.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 15-Oct-2026 the market cap of International Combus stood at ₹97.05 Cr

The latest P/E ratio of International Combus as of 15-Oct-2026 is 0.00.

The latest P/B ratio of International Combus as of 15-Oct-2026 is 0.77.

The 52-week high of International Combus is ₹824.0 and the 52-week low is ₹346.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of International Combus is ₹299 ( Cr.) .

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

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

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.

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
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