BSE: 505737 | NSE: | Engineering - Industrial Equipments | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that International Combustion (India) Ltd is a below 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 Fair 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.
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 % ⓘ | 1.5% | -0.8% | 5.2% | 0.3% | 6% | -0.3% | -3.8% | 6.8% | 13% | 26.4% | - |
| Value Creation Index ⓘ | -0.9 | -1.1 | -0.6 | -1.0 | -0.6 | -1.0 | -1.3 | -0.5 | -0.1 | 0.9 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 88.7 | 93.3 | 109 | 108 | 134 | 124 | 110 | 169 | 223 | 297 | 278 |
| Sales YoY Gr. | - | 5.2% | 16.3% | -0.9% | 24.6% | -7.6% | -11.6% | 54.2% | 31.8% | 33.4% | - |
| Adj EPS ⓘ | 0.1 | -5.7 | 0.8 | -15.4 | 10.6 | -11.1 | -22 | 16.8 | 34.4 | 83 | 46.9 |
| YoY Gr. | - | -9666.7% | NA | -2079.5% | NA | -204.4% | NA | NA | 104.6% | 141.4% | - |
| BVPS (₹) ⓘ | 386.3 | 384.1 | 404.2 | 393.8 | 407.9 | 396.3 | 373.8 | 393.1 | 424.4 | 504.4 | 507.2 |
| Adj Net Profit ⓘ | 0 | -1.4 | 0.2 | -3.7 | 2.5 | -2.7 | -5.3 | 4 | 8.2 | 19.8 | 11 |
| Cash Flow from Ops. ⓘ | -3.3 | -5.5 | 11.1 | 7.1 | 5.4 | -3.6 | 11.3 | 8.4 | 4.8 | 5.8 | - |
| Debt/CF from Ops. ⓘ | -3.9 | -6.4 | 3.2 | 4 | 4.3 | -7.2 | 1.2 | 1 | 2.7 | 5.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 14.4% | 17.2% | 39.4% | 33.4% | ||||
| Adj EPS ⓘ | 123.4% | 50.8% | NA | 141.4% | ||||
| BVPSⓘ | 3% | 4.3% | 10.5% | 18.8% | ||||
| Share Price | 13.7% | 40.1% | 40.9% | -25.5% | ||||
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 % ⓘ | 0 | -1.5 | 0.2 | -3.9 | 2.7 | -2.8 | -5.7 | 4.4 | 8.4 | 17.9 | 9.3 |
| Op. Profit Mgn % ⓘ | 4.7 | 1.5 | 3.1 | 2.5 | 7.5 | 2.1 | -1.5 | 6.3 | 7.8 | 12.9 | 9.2 |
| Net Profit Mgn % ⓘ | 0 | -1.5 | 0.2 | -3.4 | 1.9 | -2.1 | -4.8 | 2.4 | 3.7 | 6.7 | 4 |
| Debt to Equity ⓘ | 0.1 | 0.4 | 0.4 | 0.3 | 0.2 | 0.3 | 0.2 | 0.1 | 0.1 | 0.3 | 0 |
| Working Cap Days ⓘ | 315 | 299 | 250 | 276 | 241 | 271 | 286 | 183 | 163 | 159 | 101 |
| Cash Conv. Cycle ⓘ | 180 | 190 | 154 | 167 | 135 | 164 | 178 | 104 | 93 | 88 | 41 |
Sales growth is growing at healthy rate in last 3 years 39.40%
Return on Equity has declined versus last 3 years average to 9.30%
Sales growth is not so good in last 4 quarters at 5.51%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 46.9 | -29.6 |
| TTM Sales (₹ Cr.) | 278 | 98.3 |
| BVPS (₹.) ⓘ | 507.2 | 0 |
| Reserves (₹ Cr.) ⓘ | 119 | 85 |
| P/BV ⓘ | 1.90 | 0.00 |
| PE ⓘ | 20.58 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 955.00 / 2300.00 |
| All Time Low / High (₹) | 2.05 / 2300.00 |
| Market Cap (₹ Cr.) | 231 |
| Equity (₹ Cr.) | 2.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 57.5 |
| 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 | 89 | 93 | 109 | 108 | 134 | 124 | 110 | 169 | 223 | 297 |
| Operating Expenses ⓘ | 85 | 92 | 105 | 105 | 124 | 122 | 111 | 158 | 205 | 258 |
| Manufacturing Costs | 9 | 8 | 9 | 10 | 13 | 12 | 10 | 14 | 19 | 23 |
| Material Costs | 39 | 44 | 53 | 49 | 63 | 55 | 55 | 88 | 119 | 154 |
| Employee Cost | 27 | 28 | 31 | 33 | 34 | 39 | 35 | 42 | 48 | 56 |
| Other Costs ⓘ | 10 | 11 | 12 | 14 | 14 | 16 | 11 | 15 | 19 | 25 |
| Operating Profit ⓘ | 4 | 1 | 3 | 3 | 10 | 2 | -2 | 11 | 17 | 38 |
| Operating Profit Margin (%) | 4.4% | 1.5% | 3.1% | 2.5% | 7.5% | 1.7% | -1.5% | 6.3% | 7.8% | 12.9% |
| Other Income ⓘ | 2 | 2 | 8 | 3 | 2 | 2 | 2 | 1 | 1 | 2 |
| Interest ⓘ | 1 | 1 | 4 | 4 | 3 | 3 | 2 | 2 | 2 | 3 |
| Depreciation ⓘ | 5 | 4 | 5 | 5 | 5 | 5 | 4 | 5 | 4 | 5 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1 | -2 | 3 | -4 | 4 | -3 | -7 | 5 | 12 | 32 |
| Tax ⓘ | 0 | -1 | 1 | -1 | 1 | -1 | -1 | 1 | 4 | 12 |
| Profit After Tax | 1 | -1 | 2 | -2 | 4 | -2 | -5 | 4 | 8 | 20 |
| PAT Margin (%) | 1.1% | -0.5% | 2.0% | -2.2% | 2.7% | -1.5% | -4.7% | 2.5% | 3.7% | 6.7% |
| Adjusted EPS (₹) | 4.1 | -2.1 | 8.9 | -9.8 | 14.9 | -7.8 | -21.6 | 17.4 | 34.8 | 83.5 |
| Dividend Payout Ratio (%) | 37% | 0% | 0% | 0% | 7% | 0% | 0% | 12% | 9% | 6% |
| 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 | 92 | 92 | 97 | 94 | 97 | 95 | 89 | 94 | 101 | 121 |
| Share Capital ⓘ | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves ⓘ | 90 | 89 | 94 | 92 | 95 | 92 | 87 | 92 | 99 | 118 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 13 | 31 | 29 | 22 | 17 | 23 | 13 | 9 | 13 | 29 |
| Long Term Debt | 7 | 24 | 20 | 13 | 7 | 1 | 0 | 1 | 0 | 7 |
| Short Term Debt | 6 | 7 | 10 | 9 | 10 | 23 | 13 | 8 | 13 | 22 |
| Trade Payables | 16 | 13 | 17 | 22 | 26 | 24 | 25 | 28 | 33 | 45 |
| Others Liabilities ⓘ | 23 | 19 | 21 | 20 | 21 | 16 | 12 | 16 | 21 | 29 |
| Total Liabilities ⓘ | 144 | 155 | 164 | 158 | 161 | 158 | 139 | 146 | 168 | 223 |
Fixed Assets | ||||||||||
| Gross Block | 71 | 86 | 55 | 57 | 60 | 65 | 66 | 68 | 72 | 95 |
| Accumulated Depreciation | 43 | 47 | 5 | 10 | 15 | 20 | 24 | 29 | 33 | 38 |
| Net Fixed Assetsⓘ | 28 | 39 | 50 | 47 | 44 | 45 | 42 | 39 | 39 | 57 |
| CWIP ⓘ | 1 | 6 | 1 | 0 | 0 | 0 | 0 | 0 | 4 | 3 |
| Investmentsⓘ | 26 | 25 | 31 | 25 | 22 | 18 | 15 | 11 | 11 | 9 |
| Inventories | 32 | 30 | 30 | 34 | 39 | 45 | 43 | 45 | 53 | 70 |
| Trade Receivables | 39 | 41 | 39 | 39 | 41 | 38 | 29 | 36 | 46 | 67 |
| Cash Equivalents | 3 | 3 | 3 | 2 | 2 | 3 | 3 | 6 | 5 | 6 |
| Others Assetsⓘ | 15 | 11 | 11 | 12 | 13 | 8 | 8 | 8 | 10 | 11 |
| Total Assets ⓘ | 144 | 155 | 164 | 158 | 161 | 158 | 139 | 146 | 168 | 223 |
| 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 ⓘ | -3 | -6 | 11 | 7 | 5 | -4 | 11 | 8 | 5 | 6 |
| PBT ⓘ | 1 | -2 | 3 | -4 | 4 | -3 | -7 | 5 | 12 | 32 |
| Adjustment ⓘ | 3 | 3 | 2 | 7 | 6 | 7 | 5 | 6 | 6 | 9 |
| Changes in Working Capital ⓘ | -7 | -8 | 7 | 4 | -5 | -6 | 13 | -2 | -11 | -29 |
| Tax Paid ⓘ | 0 | 1 | 0 | 0 | 0 | -1 | 0 | -1 | -2 | -6 |
| Cash Flow From Investing Activity ⓘ | -6 | -15 | -8 | 4 | 3 | 5 | 3 | 1 | -9 | -19 |
| Capex | -6 | -17 | -10 | -4 | -2 | -6 | -1 | -2 | -10 | -21 |
| Net Investments | -2 | 2 | 2 | 8 | 4 | 4 | 4 | 3 | 1 | 2 |
| Others ⓘ | 2 | 0 | 0 | 0 | 0 | 7 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 9 | 21 | -4 | -11 | -8 | 0 | -14 | -7 | 2 | 14 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 10 | 21 | -2 | -6 | -6 | -10 | -2 | 0 | -1 | 9 |
| Interest Paid ⓘ | -1 | -1 | -4 | -4 | -3 | -3 | -2 | -2 | -2 | -3 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 |
| Others ⓘ | 0 | 1 | 2 | -1 | 1 | 13 | -10 | -5 | 5 | 9 |
| Net Cash Flow ⓘ | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 3 | -3 | 1 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.06 | -0.56 | 2.27 | -2.46 | 3.72 | -1.95 | -5.61 | 4.53 | 8.5 | 17.98 |
| ROCE (%) | 1.48 | -0.77 | 5.2 | 0.29 | 5.99 | -0.3 | -3.83 | 6.77 | 13 | 26.42 |
| Asset Turnover Ratio | 0.69 | 0.69 | 0.74 | 0.67 | 0.84 | 0.78 | 0.74 | 1.18 | 1.42 | 1.51 |
| PAT to CFO Conversion(x) | -3 | N/A | 5.5 | N/A | 1.25 | N/A | N/A | 2 | 0.63 | 0.3 | Working Capital Days |
| Receivable Days | 137 | 143 | 123 | 130 | 108 | 117 | 113 | 70 | 67 | 70 |
| Inventory Days | 114 | 109 | 92 | 108 | 100 | 125 | 148 | 96 | 81 | 76 |
| Payable Days | 151 | 119 | 104 | 149 | 139 | 165 | 164 | 110 | 94 | 93 |
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 :
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 :
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.
Polymer Division
Clientele:
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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