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Swing Capital

Indo Count Industries Ltd

NSE: ICIL BSE: 521016

Indo Count Industries Limited (ICIL) is engaged in the home textiles & bedding industry. The company is a manufacturer and exporter of bed sheets, bed linen and quilts. [1] It is the largest global bed linen player.

₹295
52W: ₹217 — ₹349
PE 50.4 · Book ₹114 · +159% vs book
Market Cap₹5,849 Cr
Stock P/E50.4Price to Earnings
ROCE13.7%Return on Capital
ROE11.1%Return on Equity
Div. Yield0.66%Face Value ₹2

Weaknesses

  • −Company has a low return on equity of 14.0% over last 3 years.

Shareholding Pattern

Promoters58.74%
FIIs9.86%
DIIs5.72%
Public25.66%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters58.74%58.74%58.74%58.74%58.74%58.74%58.74%58.74%
FIIs10.69%10.69%10.35%▼0.310.12%▼0.29.89%▼0.29.98%▲0.19.86%▼0.19.86%
DIIs2.16%3.67%▲1.54.57%▲0.94.96%▲0.45.15%▲0.25.31%▲0.26.03%▲0.75.72%▼0.3
Public28.4%26.89%▼1.526.34%▼0.626.18%▼0.226.22%▲0.025.95%▼0.325.37%▼0.625.66%▲0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales9606961,0019069911,009865733828779
Expenses811598840767841887813645747716
Operating Profit1499716213915012252888163
OPM %16%14%16%15%15%12%6%12%10%8%
Net Profit10456927983678404225
EPS ₹5.272.854.663.994.193.380.412.032.131.28

AI Insights

Revenue Trend

TTM revenue at ₹3,205Cr, down 15% YoY. OPM at 9%.

Debt Position

Borrowings at ₹868Cr. Debt-to-equity ratio: 0.39x. Healthy balance sheet.

Capex Cycle

CWIP at ₹33Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 5.72% (+5.70pp change). FIIs: 9.86% (+0.72pp change). Promoters hold 58.74%.

Margin & Efficiency

ROCE declining from 26% (Mar 2014) to 14% (Mar 2025). Working capital days: 65.

Valuation

PE 50.4x with 13.7% ROCE. Price is 159% above book value of ₹114. Dividend yield: 0.66%.

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