Indo Count Industries Limited (ICIL.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-110.0%

-₹47.20

vs ₹470.20 price

Levered DCF

₹5.04

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	38.99×	21.59×	20.13×	8.02×	8.78×	10.37×	6.36×	17.56×
P/B	2.1×	2.33×	3.26×	1.24×	1.98×	2.02×	0.48×	1.08×
P/S	1.19×	1.28×	2.08×	0.8×	1.11×	1.11×	0.25×	0.59×
EV / EBITDA	13.34×	11.59×	12.82×	6.3×	7.1×	7.81×	5.86×	8.64×
Gross margin	38.0%	42.2%	45.9%	18.8%	52.1%	38.1%	32.4%	34.2%
Operating margin	5.6%	10.1%	14.9%	6.0%	18.8%	14.6%	7.9%	8.6%
Net margin	3.1%	5.9%	10.3%	9.9%	12.6%	10.7%	3.9%	3.3%
Current ratio	1.71×	1.7×	1.81×	1.8×	1.52×	1.92×	1.88×	2.22×
Debt / equity	0.57×	0.64×	0.46×	0.49×	0.83×	0.45×	0.37×	0.35×
Interest coverage	1.71×	3.39×	6.97×	2.68×	11.26×	12.18×	3.87×	4.36×
Dividend yield	0.8%	0.8%	0.6%	1.8%	0.9%	0.5%	3.0%	0.9%
Payout ratio	31.3%	17.7%	11.7%	14.3%	8.3%	4.7%	19.4%	15.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.4%	10.8%	16.2%	15.4%	22.6%	19.5%	7.5%	6.2%
Return on invested capital	4.6%	7.9%	11.5%	4.7%	13.1%	12.8%	10.7%	6.8%
Return on assets	2.8%	5.8%	9.5%	9.1%	11.0%	10.9%	4.4%	3.7%
Free cash flow yield	5.0%	0.6%	0.2%	18.6%	-15.5%	-2.1%	22.7%	14.6%
Earnings yield	2.6%	4.6%	5.0%	12.5%	11.4%	9.6%	15.7%	5.7%
Enterprise value	₹61.6B	₹66.4B	₹76.6B	₹30B	₹40.8B	₹31.4B	₹7.7B	₹13.7B
Net debt / EBITDA	2.64×	2.32×	1.44×	1.65×	1.62×	1.35×	2.3×	1.98×
Cash conversion cycle (days)	181	203	172	220	336	208	173	118