Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 6.62 | 3.91 | 3.96 | 4.66 | 7.09 | 16.89 | 4.94 | 9.97 | 6.23 | 7.28 | 8.19 | 5.42 |
| Operating costs | 6.13 | 3.58 | 4.39 | 4.31 | 6.48 | 16.42 | 4.67 | 9.46 | 5.73 | 7.10 | 8.16 | 5.15 |
| EBITDA | 0.49 | 0.33 | -0.43 | 0.35 | 0.61 | 0.47 | 0.27 | 0.51 | 0.50 | 0.18 | 0.03 | 0.27 |
| EBITDA margin % | 7.40% | 8.44% | -10.86% | 7.51% | 8.60% | 2.78% | 5.47% | 5.12% | 8.03% | 2.47% | 0.37% | 4.98% |
| Depreciation & amortisation | 0.08 | 0.08 | 0.15 | 0.09 | 0.09 | 0.09 | 0.11 | 0.08 | 0.17 | 0.13 | 0.13 | 0.09 |
| Finance costs | 0.06 | 0.13 | -0.06 | 0.03 | 0.07 | 0.18 | 0.18 | 0.13 | 0.14 | 0.05 | 0.02 | 0.07 |
| Non-operating income | 0.04 | -0.02 | 0.80 | 0.00 | 0.00 | 0.00 | 0.19 | 0.00 | 0.03 | 0.13 | -0.03 | 0.00 |
| Pre-tax profit | 0.39 | 0.10 | 0.28 | 0.23 | 0.45 | 0.20 | 0.17 | 0.30 | 0.22 | 0.13 | -0.15 | 0.11 |
| Effective tax rate % | 0.00% | 0.00% | 89.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Profit after tax | 0.39 | 0.10 | 0.02 | 0.23 | 0.45 | 0.20 | 0.17 | 0.30 | 0.22 | 0.14 | -0.15 | 0.11 |
| Earnings per share (Rs) | 0.76 | 0.19 | 0.04 | 0.45 | 0.88 | 0.39 | 0.33 | 0.58 | 0.43 | 0.27 | -0.29 | 0.21 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 30.06 | 28.57 | 28.37 | 20.58 | 38.33 | 20.91 | 23.16 | 21.06 | 19.36 | 33.58 | 31.67 | 27.12 |
| Operating costs | 26.81 | 24.66 | 25.01 | 19.42 | 37.61 | 20.80 | 22.54 | 20.59 | 18.74 | 31.85 | 30.41 | 26.14 |
| EBITDA | 3.25 | 3.91 | 3.36 | 1.16 | 0.72 | 0.11 | 0.62 | 0.47 | 0.62 | 1.73 | 1.26 | 0.98 |
| EBITDA margin % | 10.81% | 13.69% | 11.84% | 5.64% | 1.88% | 0.53% | 2.68% | 2.23% | 3.20% | 5.15% | 3.98% | 3.61% |
| Depreciation & amortisation | 0.38 | 0.30 | 0.37 | 0.45 | 0.46 | 0.47 | 0.44 | 0.39 | 0.38 | 0.38 | 0.50 | 0.52 |
| Finance costs | 0.71 | 0.44 | 0.15 | 0.39 | 0.56 | 0.18 | 0.20 | 0.21 | 0.20 | 0.49 | 0.39 | 0.28 |
| Non-operating income | 0.35 | 0.38 | 1.05 | 1.05 | 0.89 | 1.22 | 1.18 | 1.02 | 0.88 | 0.19 | 0.14 | 0.13 |
| Pre-tax profit | 2.51 | 3.55 | 3.89 | 1.37 | 0.59 | 0.68 | 1.16 | 0.89 | 0.92 | 1.05 | 0.51 | 0.31 |
| Effective tax rate % | 38.65% | 33.52% | 26.74% | 29.20% | 27.12% | 13.24% | 31.03% | 25.84% | 27.17% | 23.81% | 33.33% | |
| Profit after tax | 1.53 | 2.36 | 2.85 | 0.97 | 0.44 | 0.58 | 0.80 | 0.66 | 0.67 | 0.80 | 0.34 | 0.32 |
| Earnings per share (Rs) | 2.98 | 4.60 | 5.55 | 1.89 | 0.86 | 1.13 | 1.56 | 1.29 | 1.31 | 1.56 | 0.66 | 0.62 |
| Paid out as dividend % | 33.53% | 21.74% | 18.00% | 52.89% | 0.00% | 88.45% | 64.12% | 77.73% | 76.57% | 64.12% | 150.88% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Revenue CAGR | 1% | 9% | 15% | -30% | ||
| Profit CAGR | -14% | -8% | -18% | -71% | ||
| Share price CAGR | 13% | 27% | 29% | -33% | ||
| Average return on equity | 7% | 4% | 4% | 2% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net block (property, plant) | 5.25 | 5.49 | 4.28 | 4.47 | 4.95 | 4.65 | 4.19 | 3.49 | 3.67 | 3.43 | 7.33 | 6.84 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.21 | 2.21 | 2.57 | 2.57 |
| Current & other assets | 29.80 | 15.38 | 14.94 | 17.92 | 17.62 | 28.75 | 30.16 | 23.85 | 22.21 | 21.79 | 20.04 | 18.22 |
| Total assets | 35.05 | 20.87 | 19.22 | 22.39 | 24.57 | 35.40 | 36.35 | 29.34 | 28.09 | 27.43 | 29.94 | 27.63 |
| Share capital | 5.13 | 5.13 | 5.13 | 5.13 | 5.13 | 5.13 | 5.13 | 5.13 | 5.13 | 5.13 | 5.13 | 5.13 |
| Reserves & surplus | 4.76 | 5.68 | 7.42 | 9.65 | 9.98 | 10.22 | 10.35 | 10.69 | 10.84 | 10.94 | 11.11 | 10.92 |
| Total debt | 4.66 | 1.37 | 0.15 | 0.41 | 0.88 | 0.68 | 1.83 | 1.88 | 1.19 | 2.75 | 5.39 | 0.82 |
| Other liabilities & provisions | 20.50 | 8.69 | 6.52 | 7.20 | 8.58 | 19.37 | 19.04 | 11.64 | 10.93 | 8.61 | 8.31 | 10.76 |
| Equity + liabilities | 35.05 | 20.87 | 19.22 | 22.39 | 24.57 | 35.40 | 36.35 | 29.34 | 28.09 | 27.43 | 29.94 | 27.63 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -2.03 | 1.71 | 5.30 | 3.62 | -1.76 | 10.81 | 2.84 | -3.83 | -1.04 | -6.06 | -2.11 | 5.11 |
| Investing cash flow | -0.25 | -0.32 | 1.26 | 0.09 | -2.42 | 0.71 | 0.86 | 1.43 | 0.23 | 0.67 | -4.63 | -0.01 |
| Free cash flow (after capex) | -3.35 | 1.05 | 6.31 | 3.05 | -2.69 | 10.66 | 2.82 | -3.40 | -1.54 | -6.19 | -6.39 | 5.09 |
| Financing cash flow | 2.03 | -4.52 | -2.41 | -0.50 | -0.47 | -0.70 | 0.49 | -0.63 | -1.38 | 0.87 | 1.67 | -4.76 |
| Net change in cash | -0.25 | -3.12 | 4.16 | 3.21 | -4.65 | 10.82 | 4.19 | -3.02 | -2.19 | -4.52 | -5.07 | 0.35 |
| Cash conversion (OCF / EBITDA) % | -101% | 25% | 161% | 141% | -136% | 1,522% | 2,745% | -568% | -172% | -937% | -106% | 417% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on capital employed % | 30.00% | 24.09% | 31.27% | 28.97% | 11.29% | 7.18% | 4.62% | 6.80% | 5.91% | 6.17% | 7.61% | 4.68% |
| Receivable days | 102.28 | 103.09 | 79.98 | 80.41 | 88.32 | 67.99 | 129.87 | 81.01 | 107.80 | 184.95 | 154.35 | 85.75 |
| Inventory days | 152.58 | 109.52 | 71.58 | 63.81 | 95.52 | 53.05 | 76.45 | 67.45 | 60.93 | 81.02 | 31.06 | 87.83 |
| Payable days | 53.10 | 65.76 | 105.71 | 129.56 | 192.49 | 640.07 | 602.23 | 290.83 | 275.87 | 195.91 | 86.54 | 81.14 |
| Cash cycle (days) | 201.76 | 146.85 | 45.85 | 14.66 | -8.64 | -519.03 | -395.92 | -142.37 | -107.14 | 70.06 | 98.87 | 92.44 |
| Working capital days | 13.81 | 66.66 | 39.09 | 26.50 | 1.60 | -85.80 | -132.49 | -55.47 | -33.10 | 53.17 | 45.33 | 50.48 |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter group % | 66.82% | 66.89% | 66.91% | 66.91% | 66.91% | 66.91% | 66.91% | 66.91% | 66.91% | 66.91% | 66.91% | 66.91% |
| Retail & others % | 33.18% | 33.10% | 33.08% | 33.08% | 33.08% | 33.08% | 33.08% | 33.08% | 33.09% | 33.09% | 33.10% | 33.10% |
| Shareholder count | 2,924 | 2,939 | 3,410 | 3,387 | 3,440 | 3,481 | 3,480 | 3,346 | 3,450 | 3,375 | 3,333 | 3,260 |
Fundamentals
Market value₹ 42.1 Cr.
Last price₹ 82.0
P/E (trailing)131
Book value / share₹ 31.5
Return on capital4.68 %
Return on equity2.11 %
Dividend yield1.21 %
Face value₹ 10.0
Revenue CAGR (TTM)-30%
Profit CAGR (TTM)-71%
Standalone figures.
Valuation
Market capRs 40 Cr
Enterprise valueRs 38 Cr
P/E (TTM)125.92x
Price to book2.51x
Price to sales1.49x
EV / EBITDA34.57x
EV / EBIT65.04x
EV / sales1.42x
Price to cash flow7.89x
Earnings yield0.79%
Dividend yield1.27%
P/E, 3-year average76.72x
P/B, 3-year average2.55x
P/E, 5-year average57.33x
P/B, 5-year average2.05x
Profitability
Operating margin (excl. other income)3.98%
Operating margin (incl. other income)4.42%
EBITDA margin4.09%
Pre-tax margin1.14%
Net profit margin1.18%
Net margin, latest quarter2.03%
ROE2.11%
ROCE4.68%
ROA1.18%
ROE, 3-year average3.75%
ROCE, 3-year average6.17%
ROA, 3-year average2.13%
ROE, 5-year average4.10%
ROCE, 5-year average6.52%
ROA, 5-year average2.22%
ROIC (approx.)2.78%
Tax rate33.33%
Other income / net worth0.87%
Growth
Sales growth (latest year)-5.69%
Profit growth (latest year)-57.50%
Sales CAGR, 3 years14.57%
Sales CAGR, 5 years8.66%
Profit CAGR, 3 years-19.84%
Profit CAGR, 5 years-10.13%
Sales growth QoQ-33.82%
Sales growth YoY (latest quarter)-45.64%
Profit growth YoY (latest quarter)-63.33%
Per share
EPS (TTM)Rs 0.62
EPS (latest year)Rs 0.66
EPS (latest quarter)Rs 0.21
EPS, 3-year averageRs 1.18
EPS, 5-year averageRs 1.22
Book value per shareRs 31.27
Sales per shareRs 52.83
Cash flow per shareRs 9.95
Dividend per share (latest year)Rs 0.99
Dividend per share, 3-year averageRs 0.99
Dividend per share, 5-year averageRs 0.96
Dividends
Dividend payout150.00%
Dividend payout, 3-year average96.62%
Dividend payout, 5-year average86.18%
Efficiency
Asset turnover1.15x
Fixed asset turnover4.63x
Inventory turnover4.25x
Inventory days86 days
Debtor days86 days
Debtors turnover4.26x
Leverage
Total debtRs 1 Cr
Cash and bankRs 3 Cr
Net debtRs -2 Cr
Debt to equity0.05x
Net debt / EBITDA-1.73x
Interest coverage2.11x
Owners' fund to total sources58.09%
Debt to assets2.97%
Cash flow
Operating cash flow (latest year)Rs 5 Cr
Investing cash flow (latest year)Rs -0 Cr
Financing cash flow (latest year)Rs -5 Cr
Net change in cash (latest year)Rs 0 Cr
Sales to cash flow6.20x
Statement figures
Net sales (TTM)Rs 27 Cr
Net sales (latest year)Rs 32 Cr
Sales (latest quarter)Rs 5 Cr
Operating profit excl. other income (latest year)Rs 1 Cr
Operating profit (latest quarter)Rs 0 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 1 Cr
PBDT (TTM)Rs 1 Cr
Profit before tax (TTM)Rs 0 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 0 Cr
Net profit (latest year)Rs 0 Cr
Net profit (latest quarter)Rs 0 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 26 Cr
Total expenditure (latest year)Rs 30 Cr
Total income (latest year)Rs 32 Cr
Share capitalRs 5 Cr
ReservesRs 11 Cr
Shareholders' fundsRs 16 Cr
Total assetsRs 28 Cr
Net blockRs 7 Cr
InvestmentsRs 3 Cr
ReceivablesRs 7 Cr
InventoryRs 6 Cr
Other liabilitiesRs 11 Cr
Shares outstanding (crore)0.51
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 125.9 is at the 97th percentile of its own 9.4-year range
(median 27.1, low 6.7, high 137.5).
P/B 2.51 is at the 73th percentile (median 1.42).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 517370 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -5.1% | -2.8% | -2.4 pts |
| 1 month | -4.8% | -6.8% | +1.9 pts |
| 3 months | -24.3% | -7.6% | -16.7 pts |
| 3 years | +101.9% | +14.2% | +87.7 pts |
| 5 years | +214.0% | +27.9% | +186.1 pts |
Red flags
F-score 6 of 8| explain | Weak cash conversion Cash from operations was -169% of net profit over the last 3 years |
| look | Inventory outrunning sales Inventory grew 169% vs sales -6% in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹5 Cr -45.6% vs Jun 2025.
Net profit ₹0 Cr -63.3%.
Activity
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Incap Ltd?
Incap Ltd (517370) has a market capitalisation of Rs 42.1 Cr. at the 2026-10-01 close.
What is the P/E ratio of Incap Ltd?
Incap Ltd trades at a P/E of 131 on trailing twelve-month profit, at the 2026-10-01 close.
What were Incap Ltd's latest quarterly results?
In the Jun 2026 quarter, Incap Ltd sales was Rs 5 Cr (-45.6% vs Jun 2025) and net profit was Rs 0 Cr.