ICDS Ltd. (IN:ICDSLTD)
:ICDSLTD
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ICDS Ltd.
(ICDSLTD)
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Rating:72Outperform
Price Target:
₹51.00
▲(30.27% Upside)
Action:Upgraded
Date:03/14/26
The score is driven primarily by improving financial performance and a strong balance sheet. Technicals are supportive due to the price trading above major moving averages, but slightly negative MACD and a near-overbought RSI temper the outlook. Valuation is the main drag given the high P/E and no dividend yield.
Positive Factors
Strong balance sheet / low leverage
A very high equity ratio and low debt-to-equity give ICDS durable financial resilience. This capital structure supports investment, acquisition optionality, and the ability to absorb real-estate cycle shocks without forced asset sales or costly refinancing, boosting long-term stability.
Negative Factors
Historical volatility in profits and ROE
Repeated swings in profitability and ROE weaken earnings predictability and complicate capital allocation. For a services firm in real estate, this raises the risk that current improvements may not persist, making long-term planning, lending, and contract pricing more conservative.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet / low leverage
A very high equity ratio and low debt-to-equity give ICDS durable financial resilience. This capital structure supports investment, acquisition optionality, and the ability to absorb real-estate cycle shocks without forced asset sales or costly refinancing, boosting long-term stability.
Read all positive factors
ICDS Ltd. (ICDSLTD) vs. iShares MSCI India ETF (INDA)
Market Cap
₹637.66M
Dividend YieldN/A
Average Volume (3M)5.34K
Price to Earnings (P/E)32.8
Beta (1Y)0.41
Revenue Growth86.04%
EPS Growth169.31%
CountryIN
Employees14
SectorServices
Sector StrengthN/A
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.16
Shares Outstanding13,026,700
10 Day Avg. Volume239
30 Day Avg. Volume5,338
Financial Highlights & Ratios
PEG Ratio-1.39
Price to Book (P/B)2.07
Price to Sales (P/S)15.52
P/FCF Ratio62.99
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
ICDS Ltd. Business Overview & Revenue Model
Company Description
ICDS Limited engages in trading shares and securities, and mobiles and accessories in India. It also engages in the rental of investment properties; and marketing of life and general insurance products. The company was formerly known as Industrial...
How the Company Makes Money
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ICDS Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
75
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.02M | 38.68M | 35.12M | 22.59M | 12.75M | 10.87M |
| Gross Profit | 4.11M | 39.02M | 30.14M | 16.56M | 7.96M | 4.53M |
| EBITDA | 4.20M | 33.77M | 27.99M | 9.61M | 63.39M | 14.34M |
| Net Income | 491.00K | 14.03M | 20.35M | 3.81M | 58.36M | -53.83M |
Balance Sheet | ||||||
| Total Assets | 284.48M | 321.95M | 286.62M | 268.32M | 266.09M | 204.83M |
| Cash, Cash Equivalents and Short-Term Investments | 106.15M | 69.45M | 78.38M | 80.08M | 52.29M | 56.54M |
| Total Debt | 2.29M | 2.63M | 3.59M | 2.96M | 9.26M | 8.19M |
| Total Liabilities | 11.47M | 32.52M | 11.23M | 13.19M | 13.95M | 11.19M |
| Stockholders Equity | 273.01M | 289.43M | 275.39M | 255.13M | 252.14M | 193.63M |
Cash Flow | ||||||
| Free Cash Flow | 3.66M | 9.53M | 1.83M | 63.56M | -8.35M | -8.76M |
| Operating Cash Flow | 3.66M | 10.57M | 10.04M | 63.62M | -5.39M | -8.75M |
| Investing Cash Flow | 0.00 | -14.18M | -5.88M | -61.71M | 2.31M | 9.07M |
| Financing Cash Flow | 0.00 | 1.14M | -1.63M | -1.97M | 3.14M | -751.00K |
ICDS Ltd. Technical Analysis
Positive
39.15
Price Trends
46.56
Positive
44.28
Positive
46.29
Positive
Market Momentum
0.77
Positive
65.68
Neutral
44.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ICDSLTD, the sentiment is Positive. The current price of 39.15 is below the 20-day moving average (MA) of 48.49, below the 50-day MA of 46.56, and below the 200-day MA of 46.29, indicating a bullish trend. The MACD of 0.77 indicates Positive momentum. The RSI at 65.68 is Neutral, neither overbought nor oversold. The STOCH value of 44.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ICDSLTD.
ICDS Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹637.66M | 32.75 | ― | ― | 86.04% | 169.31% | |
69 Neutral | ₹1.31B | 7.04 | ― | 1.00% | -27.24% | -15.41% | |
63 Neutral | ₹7.90B | 17.84 | ― | 1.01% | 23.13% | 12.91% | |
59 Neutral | ₹932.77M | 12.37 | ― | ― | 107.68% | ― | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
48 Neutral | ₹2.12B | -47.72 | ― | ― | 59.54% | 504.60% |
* Services Sector Average
IN:ICDSLTD
ICDS Ltd.
48.95
-6.89
-12.34%
IN:ACCORD
Accord Synergy Ltd.
―
―
―
IN:CCHHL
Country Club Hospitality & Holidays Limited
13.11
-2.99
-18.57%
IN:CINEVISTA
Cinevista Ltd.
16.00
1.28
8.70%
IN:CORALFINAC
Coral India Finance & Housing Ltd.
31.52
-15.26
-32.62%
IN:ELDEHSG
Eldeco Housing & Industries Ltd.
783.55
-17.42
-2.17%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.