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About
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
₹511.95 0.90 (0.18%)
As on 14-Aug'26 16:59
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
₹511.95 0.90 (0.18%)
As on 14-Aug'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹122 Cr.
Current Price
₹512
52-Week Low / High
₹346 / 891
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
56.2
Price to Book (P/B)
0.97
Lower than its 5-year historical median
Price to Sales (P/S)
0.41
Lower than its 5-year historical median
EV/EBITDA
35.22
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
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
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat UndervaluedCheck Valuation charts
Price Trend
Weak
Is International Combustion (India) Ltd a good quality company?
International Combustion (India) Ltd is a average quality company, based on a somewhat consistent 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?
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 4.23%, indicating faster growth and gaining its market share.
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.
Stock return of International Combustion (India) Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 6.1% 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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | -0.1 | 0.9 | 0.0 | -1.0 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 109 | 108 | 134 | 124 | 110 | 169 | 223 | 297 | 293 | 293 | 299 |
| 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 | -15.4 | 10.6 | -11.1 | -22 | 16.8 | 34.4 | 83 | 53.2 | -8 | -22.8 |
| YoY Gr. | - | -2079.5% | NA | -204.4% | NA | NA | 104.6% | 141.4% | -35.8% | -115.1% | - |
| BVPS (₹) ⓘ | 404.2 | 393.8 | 407.9 | 396.3 | 373.8 | 393.1 | 424.4 | 504.4 | 559.6 | 546.9 | 530.3 |
| Adj Net Profit ⓘ | 0.2 | -3.7 | 2.5 | -2.7 | -5.3 | 4 | 8.2 | 19.8 | 12.7 | -1.9 | -5 |
| Cash Flow from Ops. ⓘ | 11.1 | 7.1 | 5.4 | -3.6 | 11.3 | 8.4 | 4.8 | 5.8 | 12.4 | 22.9 | - |
| Debt/CF from Ops. ⓘ | 3.2 | 4 | 4.3 | -7.2 | 1.2 | 1 | 2.7 | 5.3 | 2.6 | 1.2 | - |
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 | 6.1% | 20.9% | -18.4% | -29.8% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 0.2 | -3.9 | 2.7 | -2.8 | -5.7 | 4.4 | 8.4 | 17.9 | 10 | -1.5 | -4.2 |
| Op. Profit Mgn % ⓘ | 3.1 | 2.5 | 7.5 | 2.1 | -1.5 | 6.3 | 7.8 | 12.9 | 8 | 2.2 | 0.8 |
| Net Profit Mgn % ⓘ | 0.2 | -3.4 | 1.9 | -2.1 | -4.8 | 2.4 | 3.7 | 6.7 | 4.3 | -0.7 | -1.8 |
| Debt to Equity ⓘ | 0.4 | 0.3 | 0.2 | 0.3 | 0.2 | 0.1 | 0.1 | 0.3 | 0.2 | 0.2 | - |
| Working Cap Days ⓘ | 250 | 276 | 241 | 271 | 286 | 183 | 163 | 159 | 186 | 184 | 92 |
| Cash Conv. Cycle ⓘ | 154 | 167 | 135 | 164 | 178 | 104 | 93 | 88 | 112 | 111 | 41 |
Valuation of International Combus - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 109 | 108 | 134 | 124 | 110 | 169 | 223 | 297 | 293 | 293 |
| Operating Expenses ⓘ + | 105 | 105 | 124 | 122 | 111 | 158 | 205 | 258 | 270 | 287 |
| Operating Profit ⓘ | 3 | 3 | 10 | 2 | -2 | 11 | 17 | 38 | 23 | 6 |
| 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 | 3 | 2 | 2 | 2 | 1 | 1 | 2 | 1 | 1 |
| Interest ⓘ | 4 | 4 | 3 | 3 | 2 | 2 | 2 | 3 | 5 | 3 |
| Depreciation ⓘ | 5 | 5 | 5 | 5 | 4 | 5 | 4 | 5 | 6 | 7 |
| Profit Before Tax ⓘ | 3 | -4 | 4 | -3 | -7 | 5 | 12 | 32 | 16 | -3 |
| Tax ⓘ | 1 | -1 | 1 | -1 | -1 | 1 | 4 | 12 | 1 | -1 |
| Profit After Tax | 2 | -2 | 4 | -2 | -5 | 4 | 8 | 20 | 15 | -2 |
| 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 | -9.8 | 14.9 | -7.8 | -21.6 | 17.4 | 34.8 | 83.5 | 62.5 | -10.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 6.70% | 0% | 0% | 11.50% | 8.60% | 6% | 6.40% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 97 | 94 | 97 | 95 | 89 | 94 | 101 | 121 | 134 | 131 | |
| Debt + | 29 | 22 | 17 | 23 | 13 | 9 | 13 | 29 | 31 | 27 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 17 | 22 | 26 | 24 | 25 | 28 | 33 | 45 | 40 | 48 | |
| Others Liabilities ⓘ | 21 | 20 | 21 | 16 | 12 | 16 | 21 | 29 | 25 | 29 | |
| Total Liabilities ⓘ | 164 | 158 | 161 | 158 | 139 | 146 | 168 | 223 | 230 | 234 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 50 | 47 | 44 | 45 | 42 | 39 | 39 | 57 | 60 | 59 | |
| CWIP ⓘ | 1 | 0 | 0 | 0 | 0 | 0 | 4 | 3 | 0 | 1 | |
| Investments ⓘ | 31 | 25 | 22 | 18 | 15 | 11 | 11 | 9 | 12 | 13 | |
| Inventories | 30 | 34 | 39 | 45 | 43 | 45 | 53 | 70 | 66 | 65 | |
| Trade Receivables | 39 | 39 | 41 | 38 | 29 | 36 | 46 | 67 | 73 | 68 | |
| Cash Equivalents | 3 | 2 | 2 | 3 | 3 | 6 | 5 | 6 | 9 | 15 | |
| Others Assets ⓘ | 11 | 12 | 13 | 8 | 8 | 8 | 10 | 11 | 10 | 14 | |
| Total Assets ⓘ | 164 | 158 | 161 | 158 | 139 | 146 | 168 | 223 | 230 | 234 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 11 | 7 | 5 | -4 | 11 | 8 | 5 | 6 | 12 | 23 |
| Cash Flow From Investing Activity ⓘ + | -8 | 4 | 3 | 5 | 3 | 1 | -9 | -19 | -8 | -12 |
| Cash Flow From Financing Activity ⓘ + | -4 | -11 | -8 | -0 | -14 | -7 | 2 | 14 | -5 | -10 |
| Net Cash Flow ⓘ | -0 | -0 | -0 | 1 | -0 | 3 | -3 | 1 | 0 | 0 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 2.27 | -2.46 | 3.72 | -1.95 | -5.61 | 4.53 | 8.5 | 17.98 | 11.76 | -1.81 |
| ROCE (%) | 5.2 | 0.29 | 5.99 | -0.3 | -3.83 | 6.77 | 13 | 26.42 | 13.42 | 0.17 |
| Asset Turnover Ratio | 0.74 | 0.67 | 0.84 | 0.78 | 0.74 | 1.18 | 1.42 | 1.51 | 1.29 | 1.26 |
| PAT to CFO Conversion(x) | 5.5 | N/A | 1.25 | N/A | N/A | 2 | 0.63 | 0.3 | 0.8 | N/A |
| Working Capital Days | ||||||||||
| Receivable Days | 123.10 | 129.90 | 108.20 | 116.70 | 112.70 | 69.90 | 67.30 | 70 | 87.20 | 87.60 |
| Inventory Days | 92.30 | 108.20 | 100 | 125.10 | 147.60 | 95.70 | 81 | 75.90 | 85 | 81.40 |
| Payable Days | 104.20 | 149.20 | 138.90 | 164.70 | 163.90 | 109.80 | 93.90 | 92.50 | 99.40 | 102.20 |
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International Combustion (India) Ltd FAQs
The current trading price of International Combus on 14-Aug-2026 16:59 is ₹511.9.
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 13-Aug-2026 the market cap of International Combus stood at ₹122.4 Cr
The latest P/E ratio of International Combus as of 13-Aug-2026 is 0.00.
The latest P/B ratio of International Combus as of 13-Aug-2026 is 0.97.
The 52-week high of International Combus is ₹891.0 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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