Indo Count Industries Limited (ICIL)

Textiles · Textiles & Apparels · NSE · Updated 15 July 2026

₹398.8 ↑ 36.46% (1Y)

🎯 Key Takeaways

Indo Count Industries Limited is transitioning from a mature textile manufacturer to a growth-oriented player with strategic expansion into higher-value segments and new geographies, particularly the U.S.
Revenue grew 11.2% QoQ to ₹1,152 in Q3FY25.
⚠️ U.S. tariff volatility and trade policy shifts pose a material risk to margin stability in a key growth market.

Market Cap

₹5,748

P/E Ratio

17.6

Div Yield

0.00%

Promoter

0.0%

✨ Ask AI About ICIL 📊 Interactive Charts

📖 The Story

Indo Count Industries Limited is transitioning from a mature textile manufacturer to a growth-oriented player with strategic expansion into higher-value segments and new geographies, particularly the U.S. market. The company is investing in capacity expansion and brand development to drive future revenue and margin improvement, targeting sustainable profitability by FY27. This shift reflects a deliberate repositioning rather than a turnaround or distress signal.

📰 What's Happening

In its FY26 results filing on 2026-06-08, management highlighted a revenue of INR4,211 crores and EBITDA margin of 11%, down from 13.8% in FY25, due to U.S. tariff volatility and new facility costs. Key initiatives include scaling new U.S. facilities, expanding core brands, and targeting FY27 revenue of INR5,500 crores with 13% EBITDA margin. The company also approved a brownfield expansion to increase spindle capacity to 94,000 by Q2 FY2027, backed by INR60 crores of capex. Additionally, on 2026-05-30, the Board endorsed a ₹25 crore modernization of the Gokul Shirgaon mill to enhance efficiency. Leadership changes, including the resignation of Head of Accounts & Finance effective 22 September 2026, were disclosed on 2026-06-24.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	807	741	1,009	713	1,093	941	1,036	1,152
Operating Profit	147	130	189	118	166	154	166	165
OPM %	17.9%	16.9%	16.3%	14.6%	15.1%	15.4%	15.2%	13.0%
Net Profit	95	74	114	58	92	78	82	75
EPS	₹4.78	₹3.72	₹5.77	₹2.93	₹4.64	₹3.93	₹4.12	₹3.81

Quarterly operating performance shows stable revenue growth pre-FY26, with OPM declining from a peak of 17.9% in Q4FY23 to 11% in FY26, reflecting margin pressure from operational investments and external headwinds. Despite this, volume trends improved, with sales volume rising to 94.1 million meters in FY26 from prior periods, and working capital days reducing to 121. The company reported net debt reduction to INR760 crores, indicating deleveraging progress amid capex commitments.

🔮 Management Outlook & What's Next

Management expressed confidence in achieving FY27 revenue of INR5,500 crores and EBITDA margin of 13%, driven by new U.S. facilities, brand expansion, and new business revenue of INR1,500 crores. They highlighted that utility bedding will reach EBITDA breakeven at 60-65% utilization, and core margins are expected to sustain at ~15%. Volume growth targets of 105-110 million meters are set for FY27, with new businesses contributing positively from that year onward.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Textiles & Apparels

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Page Industries Limited	41,069	54.8	—	—	—
K.P.R. Mill Limited	31,565	38.3	—	—	—
Vardhman Textiles Limited	17,558	20.4	—	—	—
Welspun Living Limited	13,526	20.7	—	—	—
Trident Limited	12,587	42.6	—	—	—
Arvind Limited	11,824	39.1	—	—	—
Pearl Global Industries Limited	7,713	32.0	—	—	—
Alok Industries Limited	6,852	-9.1	-2.8%	1.6%	-1.21
Garware Technical Fibres Limited	6,238	27.1	—	—	—
Indo Count Industries Limited	5,748	17.6	—	—	—

🔗 Peer Stock Analyses

PAGEIND KPRMILL VTL WELSPUNLIV TRIDENT

⚠️ Risk Factors

1. U.S. tariff volatility and trade policy shifts pose a material risk to margin stability in a key growth market. 2. Execution delays in new U.S. facility ramp-up or utilization targets could impact FY27 revenue and margin targets. 3. Integration of new capacity and modernization projects carries operational execution risk. 4. Leadership change in finance function may affect reporting continuity during a critical growth phase.

📋 Recent Filings

🧠 Analyst's Read

Indo Count Industries is in a strategic investment phase, balancing growth ambitions in new markets and capacity with near-term margin pressures. Investors should monitor execution of U.S. expansion, utilization of new capacity, and margin recovery trajectory in the next 2-3 quarters.

Based on filing content and financial data. Not a recommendation.

Read the full analysis

Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.

2 free AI queries per day.

✨ Deep Dive with AI on ICIL

Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-15.

📡 Get AI alerts when ICIL files new disclosures

Track ICIL filings, board meetings, and corporate actions. Free email alerts at 5 PM.

Track ICIL — Free

Free account · 2 AI queries/day