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BSE: 509692 | NSE: INDIANCARD | Textile - Machinery | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Indian Card Clothing Company Ltd is a below average quality company.
The key valuation ratios of Indian Card Clothing Company Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Indian Card Clothing Company Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -3.4% | 17.5% | 18.2% | -19.5% | -19% | -0.5% | 1.8% | 118.7% | 2.9% | 3.6% | - |
| Value Creation Index ⓘ | -1.3 | 0.3 | 0.3 | -2.4 | -2.4 | -1.0 | -0.9 | 7.5 | -0.8 | -0.7 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 67.8 | 65.8 | 51.5 | 59.2 | 46.3 | 51.3 | 44.6 | 55.5 | 57 | 49.1 | 44 |
| Sales YoY Gr. | - | -3% | -21.7% | 14.9% | -21.8% | 10.8% | -13% | 24.4% | 2.6% | -13.8% | - |
| Adj EPS ⓘ | -11.7 | 1.8 | 1.4 | -21 | -42.6 | -13.2 | -1.6 | 62.7 | 13.1 | 16.1 | 121.5 |
| YoY Gr. | - | NA | -23.8% | -1623.9% | NA | NA | NA | NA | -79.1% | 23.2% | - |
| BVPS (₹) ⓘ | 187.5 | 199.9 | 224.9 | 182.8 | 139.1 | 129.7 | 122.4 | 444.6 | 403.7 | 416.6 | 528.6 |
| Adj Net Profit ⓘ | -5.3 | 0.8 | 0.6 | -9.6 | -19.4 | -6 | -1 | 37.2 | 7.8 | 9.6 | 72 |
| Cash Flow from Ops. ⓘ | 4.1 | 11.8 | -5.9 | 0 | -35.4 | -10.7 | -1.6 | 1.5 | 2.9 | 1 | - |
| Debt/CF from Ops. ⓘ | 3.5 | 0.8 | -1.8 | 354.4 | -0.4 | -1.6 | -13.7 | 12.4 | 7 | 21.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -3.5% | 1.2% | 3.2% | -13.8% | ||||
| Adj EPS ⓘ | NA | NA | NA | 23.2% | ||||
| BVPSⓘ | 9.3% | 24.5% | 50.4% | 3.2% | ||||
| Share Price | 8.5% | 18.8% | 17.2% | 8.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -6.1 | 0.9 | 0.7 | -10.3 | -26.5 | -9.8 | -1.4 | 22.1 | 3.1 | 3.9 | 25.7 |
| Op. Profit Mgn % ⓘ | 5 | 7.7 | -7.2 | -12.6 | -31.4 | -1.2 | 5 | 4.4 | 6 | -4.5 | -17.5 |
| Net Profit Mgn % ⓘ | -7.9 | 1.3 | 1.2 | -16.2 | -41.9 | -11.7 | -2.1 | 67 | 13.6 | 19.5 | 163.7 |
| Debt to Equity ⓘ | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 0.3 | 0.3 | 0.1 | 0.1 | 0.1 | - |
| Working Cap Days ⓘ | 152 | 144 | 193 | 196 | 265 | 244 | 261 | 177 | 184 | 225 | 373 |
| Cash Conv. Cycle ⓘ | 101 | 88 | 98 | 80 | 97 | 75 | 84 | 74 | 79 | 79 | 313 |
Return on Equity has increased versus last 3 years average to 25.70%
Sales growth has been subdued in last 3 years 3.22%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at -21.38%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 121.5 | 122.9 |
| TTM Sales (₹ Cr.) | 44.1 | 50.4 |
| BVPS (₹.) ⓘ | 528.6 | 527 |
| Reserves (₹ Cr.) ⓘ | 308 | 307 |
| P/BV ⓘ | 0.53 | 0.53 |
| PE ⓘ | 2.30 | 2.27 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 210.20 / 350.30 |
| All Time Low / High (₹) | 12.50 / 400.00 |
| Market Cap (₹ Cr.) | 166 |
| Equity (₹ Cr.) | 5.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 50.4 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 68 | 66 | 52 | 59 | 46 | 51 | 45 | 56 | 57 | 49 |
| Operating Expenses ⓘ | 64 | 62 | 55 | 67 | 62 | 53 | 43 | 53 | 54 | 52 |
| Manufacturing Costs | 9 | 6 | 6 | 8 | 6 | 7 | 6 | 6 | 8 | 6 |
| Material Costs | 22 | 21 | 16 | 21 | 19 | 18 | 15 | 21 | 17 | 15 |
| Employee Cost | 21 | 19 | 19 | 24 | 15 | 13 | 12 | 13 | 14 | 14 |
| Other Costs ⓘ | 12 | 16 | 14 | 14 | 22 | 15 | 10 | 13 | 16 | 17 |
| Operating Profit ⓘ | 3 | 4 | -4 | -8 | -15 | -1 | 2 | 2 | 3 | -3 |
| Operating Profit Margin (%) | 5.0% | 6.1% | -7.1% | -12.9% | -33.1% | -2.4% | 4.7% | 3.9% | 4.5% | -5.6% |
| Other Income ⓘ | 3 | 21 | 29 | 6 | 3 | 2 | 3 | 6 | 13 | 20 |
| Interest ⓘ | 1 | 1 | 2 | 2 | 3 | 3 | 2 | 2 | 2 | 2 |
| Depreciation ⓘ | 10 | 7 | 6 | 5 | 4 | 4 | 4 | 4 | 5 | 5 |
| Exceptional Items ⓘ | 0 | 0 | 0 | -13 | 0 | 3 | 0 | 220 | -3 | -3 |
| Profit Before Tax ⓘ | -5 | 17 | 18 | -23 | -19 | -3 | 0 | 222 | 6 | 7 |
| Tax ⓘ | -1 | 3 | 3 | -5 | 1 | 1 | 1 | 31 | 0 | 0 |
| Profit After Tax | -4 | 14 | 15 | -18 | -20 | -4 | -1 | 191 | 6 | 8 |
| PAT Margin (%) | -5.6% | 20.7% | 28.2% | -30.1% | -42.5% | -8.1% | -2.0% | 344.6% | 9.7% | 16.1% |
| Adjusted EPS (₹) | -8.4 | 29.9 | 31.9 | -39.1 | -43.2 | -9.2 | -1.5 | 322.1 | 9.3 | 13.3 |
| Dividend Payout Ratio (%) | -30% | 49% | 38% | 0% | 0% | 0% | 0% | 8% | 269% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 85 | 91 | 102 | 83 | 63 | 59 | 73 | 264 | 240 | 247 |
| Share Capital ⓘ | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 6 |
| Reserves ⓘ | 81 | 86 | 98 | 79 | 59 | 54 | 67 | 258 | 234 | 242 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 12 | 7 | 9 | 12 | 12 | 17 | 22 | 19 | 21 | 21 |
| Long Term Debt | 2 | 1 | 0 | 1 | 2 | 8 | 18 | 19 | 21 | 21 |
| Short Term Debt | 10 | 6 | 9 | 11 | 10 | 10 | 3 | 0 | 0 | 0 |
| Trade Payables | 2 | 3 | 9 | 14 | 10 | 8 | 6 | 6 | 9 | 10 |
| Others Liabilities ⓘ | 21 | 26 | 19 | 28 | 14 | 5 | 5 | 5 | 10 | 7 |
| Total Liabilities ⓘ | 120 | 127 | 139 | 137 | 99 | 89 | 105 | 294 | 279 | 285 |
Fixed Assets | ||||||||||
| Gross Block | 119 | 112 | 112 | 113 | 114 | 112 | 123 | 89 | 91 | 90 |
| Accumulated Depreciation | 62 | 67 | 72 | 77 | 81 | 81 | 82 | 64 | 67 | 65 |
| Net Fixed Assetsⓘ | 57 | 45 | 40 | 35 | 33 | 31 | 41 | 24 | 24 | 25 |
| CWIP ⓘ | 3 | 3 | 1 | 1 | 0 | 1 | 0 | 0 | 1 | 0 |
| Investmentsⓘ | 27 | 52 | 65 | 66 | 29 | 17 | 10 | 34 | 156 | 186 |
| Inventories | 13 | 10 | 14 | 15 | 13 | 10 | 8 | 7 | 9 | 8 |
| Trade Receivables | 9 | 9 | 10 | 11 | 9 | 10 | 10 | 12 | 14 | 11 |
| Cash Equivalents | 5 | 1 | 2 | 2 | 3 | 7 | 25 | 187 | 42 | 21 |
| Others Assetsⓘ | 7 | 8 | 8 | 7 | 12 | 14 | 11 | 30 | 33 | 33 |
| Total Assets ⓘ | 120 | 127 | 139 | 137 | 99 | 89 | 105 | 294 | 279 | 285 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 4 | 12 | -6 | 0 | -35 | -11 | -2 | 2 | 3 | 1 |
| PBT ⓘ | -5 | 17 | 18 | -23 | -19 | -3 | 0 | 222 | 6 | 7 |
| Adjustment ⓘ | 8 | -11 | -21 | 2 | 3 | 3 | 3 | -219 | -2 | -9 |
| Changes in Working Capital ⓘ | -1 | 10 | -2 | 21 | -20 | -9 | -4 | -1 | 0 | 3 |
| Tax Paid ⓘ | 1 | -3 | 0 | -1 | 0 | -1 | 1 | 0 | -1 | 0 |
| Cash Flow From Investing Activity ⓘ | -1 | 5 | 17 | 1 | 36 | 13 | -2 | 165 | -121 | -20 |
| Capex | -2 | 25 | 16 | -1 | -4 | -4 | -11 | 185 | -5 | -5 |
| Net Investments | 3 | -26 | -5 | 0 | 39 | 16 | 8 | 2 | -116 | -18 |
| Others ⓘ | -1 | 6 | 7 | 2 | 1 | 1 | 1 | -21 | 0 | 3 |
| Cash Flow From Financing Activityⓘ | -3 | -17 | -11 | -1 | -1 | 1 | 17 | -5 | -31 | -2 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 15 | -3 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -1 | -1 | -1 | 0 | 2 | 4 | 11 | 0 | 0 | 0 |
| Interest Paid ⓘ | -1 | -1 | -1 | -1 | -1 | -3 | -1 | -1 | -1 | -1 |
| Dividend Paid ⓘ | -1 | -9 | -13 | -1 | 0 | 0 | 0 | 0 | -29 | 0 |
| Others ⓘ | 0 | -6 | 3 | 2 | -1 | 0 | -7 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 0 | 0 | 4 | 13 | 162 | -149 | -21 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -4.35 | 15.43 | 15.02 | -19.2 | -26.86 | -6.83 | -1.35 | 113.61 | 2.19 | 3.23 |
| ROCE (%) | -3.44 | 17.52 | 18.24 | -19.54 | -18.98 | -0.5 | 1.79 | 118.74 | 2.87 | 3.62 |
| Asset Turnover Ratio | 0.58 | 0.58 | 0.42 | 0.44 | 0.39 | 0.54 | 0.46 | 0.28 | 0.2 | 0.17 |
| PAT to CFO Conversion(x) | N/A | 0.86 | -0.4 | N/A | N/A | N/A | N/A | 0.01 | 0.5 | 0.13 | Working Capital Days |
| Receivable Days | 54 | 47 | 62 | 62 | 77 | 68 | 82 | 71 | 83 | 94 |
| Inventory Days | 66 | 60 | 79 | 88 | 112 | 82 | 75 | 50 | 50 | 64 |
| Payable Days | 58 | 51 | 135 | 200 | 234 | 185 | 183 | 112 | 167 | 232 |
Indian Card Clothing Company Ltd. (ICC) was incorporated on June 24.1955 as a private limited company and was converted into a public limited company on March 27, 1975. The company was promoted by The English Card Clothing Co. Ltd. England and Carclo Engineering Group Ltd. and the entire share capital was held by them in the proportion of 77.5% and 22.5% respectively till the offer for sale by them to the Indian public during September 1978.
The company is engaged in the manufacturing and marketing of card clothing. It manufactures wide range of wires, tops, flexible card clothing, cotton card clothing and woolen card clothing.
ICC has mastered change to keep its position as a leader with products developed to handle the evolving needs of increased rate of outputs – going as high as 150 kg/hour. And to meet more exacting quality standards worldwide innovation has become an ongoing process at ICC and this state-of-the-mind is instilled in every employee, in every department, in every stage of the production process.
The result is a wide range of wires, tops and flexible card clothing to suit every requirement, depending on the type of fibre being processed and the quality parameters desired. In fact, ICC is one of the few companies in the world that manufactures card clothing to process every fibre. Natural or man made. On every type of carding machine, be it conventional cards or super high production cards.
The R&D Cell at ICC is constantly tuned to market needs, experimenting with fresh ideas and technologies. Making significant breakthroughs in tooth geometry, surface treatment, etc. Recent developments include special alloy steel wires in the Maxus, Primus and Tenace series, a new generation of Triumph Tops and specially developed AeroDoffer wires for better doffing.
ICC now has a line of Card Upgrade products which aim at adding carding efficiency to older cards. ICC's Web Catcher and Accura Carding Elements have added significantly to the returns at hundreds of mills, where they have been installed in the last couple of years.
They can also supply from their sister concern Garnett Wire Ltd, UK who manufacture interlocking wires as well as metallic wires in heavier cross section commonly used in blow room lines, woollen, nonwoven & worsted machineries.
ICC has developed a versatile machine that can be used for mounting all types of rollers in the card room and blow room. The All-Roller Mounting Machine - ARM 08 comes with some state-of-the-art features that makes perfect mounting of wires quite easy. ICC is constantly finding solutions to improve carding quality by looking beyond card clothing. In the process they have developed the below accessories to improve carding performance and your machine's uptime.
Web Catcher-Web Catcher is a simple device that replaces Apron Doffing on carding machine and increases carding machine's uptime.
Accura Carding Systems-ICC presents an opportunity to improve quality of carding on existing cards by upgrading them with three vital components - Accura Carding Systems.
XTRAC Systems- After the success of Accura Carding Elements retrofits on the older models of card, ICC has now introduced XTRAC systems for the later model cards.
Product range of the company includes:
Achievements/ recognition:
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