International Conveyors Ltd. (IN:INTLCONV)
:INTLCONV
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International Conveyors Ltd.
(INTLCONV)
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Rating:70Outperform
Price Target:
₹85.00
▼(-13.13% Downside)
Action:Reiterated
Date:05/22/26
The score is driven primarily by solid financial performance with improving leverage but meaningful volatility in results and cash-flow conversion. Valuation is a key positive due to the very low P/E, while technical indicators are mixed and do not show a strong trend.
Positive Factors
Diversified end-markets
Serving ports, power, steel, cement and mining gives durable structural demand across cycles. Those sectors require long-lived, capital projects and recurring aftermarket spares/services, supporting multi-year project pipelines, repeat business and revenue resilience beyond short-term swings.
Negative Factors
Inconsistent cash-flow conversion
Unstable conversion from reported profit to operating cash—driven by working-capital and timing swings—creates uncertainty for capex, dividends and debt servicing. For a project-driven business, unreliable cash flow complicates funding of backlog and increases reliance on short-term liquidity.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified end-markets
Serving ports, power, steel, cement and mining gives durable structural demand across cycles. Those sectors require long-lived, capital projects and recurring aftermarket spares/services, supporting multi-year project pipelines, repeat business and revenue resilience beyond short-term swings.
Read all positive factors
International Conveyors Ltd. (INTLCONV) vs. iShares MSCI India ETF (INDA)
Market Cap
₹5.26B
Dividend Yield0.81%
Average Volume (3M)8.17K
Price to Earnings (P/E)7.6
Beta (1Y)1.41
Revenue Growth40.36%
EPS Growth-25.43%
CountryIN
Employees94
SectorBasic Materials
Sector Strength58
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)10.70
Shares Outstanding63,781,000
10 Day Avg. Volume6,179
30 Day Avg. Volume8,167
Financial Highlights & Ratios
PEG Ratio-0.22
Price to Book (P/B)0.90
Price to Sales (P/S)1.79
P/FCF Ratio9.75
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
International Conveyors Ltd. Business Overview & Revenue Model
Company Description
International Conveyors Limited (ICL), along with its affiliated entities, specializes in the worldwide manufacturing and distribution of PVC conveyor belting solutions. The company's business activities are structured across four main divisions: ...
How the Company Makes Money
International Conveyors Ltd. primarily makes money through (1) sale and supply of bulk material handling equipment (notably belt conveyor systems and associated components) and (2) execution of project/contract work that typically includes enginee...
International Conveyors Ltd. Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
78
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.61B | 2.13B | 1.52B | 1.34B | 2.15B | 2.01B |
| Gross Profit | 716.00M | 814.00M | 692.50M | 396.31M | 855.40M | 694.31M |
| EBITDA | 899.15M | 402.20M | 214.70M | 879.47M | 433.71M | 198.51M |
| Net Income | 677.40M | 683.80M | 917.10M | 623.93M | 287.20M | 161.78M |
Balance Sheet | ||||||
| Total Assets | 5.60B | 5.69B | 5.08B | 4.39B | 3.11B | 3.05B |
| Cash, Cash Equivalents and Short-Term Investments | 2.90B | 2.96B | 2.84B | 1.80B | 769.26M | 19.61M |
| Total Debt | 1.18B | 733.70M | 863.70M | 1.25B | 648.00M | 195.12M |
| Total Liabilities | 1.69B | 1.44B | 1.46B | 1.66B | 957.70M | 888.45M |
| Stockholders Equity | 3.91B | 4.24B | 3.62B | 2.73B | 2.15B | 2.16B |
Cash Flow | ||||||
| Free Cash Flow | -66.40M | 391.50M | 145.30M | 109.64M | 31.50M | 335.01M |
| Operating Cash Flow | -62.30M | 424.20M | 149.30M | 119.99M | 35.90M | 366.56M |
| Investing Cash Flow | -207.30M | -217.00M | 432.90M | -475.95M | -184.80M | 5.05M |
| Financing Cash Flow | 227.20M | -166.10M | -541.10M | 344.87M | 152.90M | -369.25M |
International Conveyors Ltd. Technical Analysis
Positive
97.85
Price Trends
79.04
Positive
77.15
Positive
85.01
Negative
Market Momentum
0.69
Negative
58.98
Neutral
76.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INTLCONV, the sentiment is Positive. The current price of 97.85 is above the 20-day moving average (MA) of 79.83, above the 50-day MA of 79.04, and above the 200-day MA of 85.01, indicating a neutral trend. The MACD of 0.69 indicates Negative momentum. The RSI at 58.98 is Neutral, neither overbought nor oversold. The STOCH value of 76.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:INTLCONV.
International Conveyors Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | ₹21.99B | 20.61 | ― | 0.63% | -1.21% | -5.31% | |
70 Outperform | ₹5.26B | 7.60 | ― | 0.81% | 40.36% | -25.43% | |
69 Neutral | ₹120.07B | 34.85 | ― | 0.41% | 3.97% | -17.81% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | ₹1.17B | 23.08 | ― | ― | -0.49% | -8.29% | |
58 Neutral | ₹3.85B | -55.35 | ― | 2.47% | -100.00% | -77.44% | |
54 Neutral | ₹67.90B | 28.45 | ― | 0.59% | 6.14% | -4.01% |
* Basic Materials Sector Average
IN:INTLCONV
International Conveyors Ltd.
83.00
-7.82
-8.61%
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International Conveyors Ltd. Corporate Events
International Conveyors Buys Stake in Diversified Metals Player Jain Resource Recycling
May 11, 2026
International Conveyors Ltd. has acquired equity shares in Jain Resource Recycling Ltd., a diversified metals company with a reported turnover of ₹7,125.77 crore in FY 2024-25, for a cash consideration of ₹5 crore. The transaction, com...
International Conveyors Buys Stake in Religare Enterprises as Portfolio Investment
Apr 9, 2026
International Conveyors Limited has disclosed that it has acquired equity shares in Religare Enterprises Limited, an investment company with a reported turnover of Rs 7,354.236 crore in FY 2024-25. The transaction, completed on April 9, 2026 for a...
International Conveyors Buys Stake in Religare Enterprises as Strategic Investment
Apr 8, 2026
International Conveyors Limited has acquired equity shares of Religare Enterprises Limited, an investment company with a turnover of ₹7,354.236 crore in FY 2024-25, for a cash consideration of ₹3.13 crore. The transaction, completed on...
International Conveyors Seeks Shareholder Nod for Loans and Related-Party Deals via E-Vote
Mar 31, 2026
International Conveyors Ltd. has initiated a postal ballot process to seek shareholder approval via remote e-voting for two key proposals: authorizing the company to advance loans, provide guarantees, or offer security under Section 185 of the Com...
International Conveyors Buys Religare Shares in ₹7.5 Crore Investment Deal
Feb 25, 2026
International Conveyors Limited has disclosed that it acquired equity shares of Religare Enterprises Limited, an investment company, for a total cash consideration of ₹7.50 crore. The purchase, completed on February 25, 2026, is classified a...
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.