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Swing Capital

ICDS Ltd

NSE: ICDSLTD BSE: 511194

ICDS Ltd (ICDSLTD) is a Diversified company listed on NSE: ICDSLTD | BSE: 511194. With a market cap of ₹57 Cr and ROCE of 10.5%, ROE of 4.6%, it operates in the Indian Diversified sector.

₹43.7
52W: ₹34 — ₹68.5
PE 32.9 · Book ₹19.7 · +122% vs book
Market Cap₹57 Cr
Stock P/E32.9Price to Earnings
ROCE10.5%Return on Capital
ROE4.6%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has a low return on equity of 3.90% over last 3 years.
  • −Earnings include an other income of Rs.0.81 Cr.

Shareholding Pattern

Promoters51.39%
FIIs0%
DIIs4.87%
Public43.73%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters51.4%51.4%51.4%51.4%51.39%▼0.051.39%51.39%51.39%
FIIs0%0%0%0%0%0%0%0%
DIIs4.87%4.87%4.87%4.87%4.87%4.87%4.87%4.87%
Public43.73%43.75%▲0.043.73%▼0.043.74%▲0.043.73%▼0.043.73%43.73%43.73%

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales0.390.320.530.340.350.332.160.590.350.39
Expenses0.370.270.340.360.250.320.810.380.410.3
Operating Profit0.020.050.19-0.020.10.011.350.21-0.060.09
OPM %5.13%15.62%35.85%-5.88%28.57%3.03%62.5%35.59%-17.14%23.08%
Net Profit0.7-0.20.230.560.5-0.920.681.23-0.470.29
EPS ₹0.54-0.150.180.430.38-0.710.520.94-0.360.22

AI Insights

Revenue Trend

TTM revenue at ₹3.49Cr, up 10.8% YoY. OPM at 45.56%.

Debt Position

Borrowings at ₹0.09Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Institutional Flow

DIIs: 4.87% (-0.02pp change). FIIs: 0% (+0.00pp change). Promoters hold 51.39%.

Margin & Efficiency

ROCE declining from 16.37% (Mar 2014) to 10.47% (Mar 2025). Working capital days: 322.13.

Valuation

PE 32.9x with 10.5% ROCE. Price is 122% above book value of ₹19.7. Dividend yield: 0%.

Recent Announcements