International Conveyors Limited (ICL), incorporated in 1973, is India's only listed player specializing in PVC conveyor belting. Founded by Mr. R.K. Dabriwala in Kolkata, the company is an ISO 9001:2015-certified entity that has established itself as a dominant force over its five-decade journey. ICL specializes in manufacturing fire-resistant, anti-static conveyor belts crucial for high-growth sectors like mining and bulk material transportation (coal, potash, salt). The company holds a significant market share, reflecting its technological expertise and quality standards.
International Conveyors Ltd holds a prominent market position, enjoying approximately 45% share of the Indian underground PVC mine conveyor belt market. This dominance is attributed to its technological expertise, quality standards, and strong customer relationships, particularly in the mining sector. ICL competes effectively in global tenders and is recognized for its product quality that meets stringent international standards.
The company's financial performance has demonstrated strong growth. As of July 2025, its Market Cap stood at ₹612 Crore. For the full financial year FY25, the company reported robust growth with net profit rising 46.99% to ₹91.71 crore. Sales also saw significant increases, especially in the last quarter of FY25 (Q4 FY25) and Q3 FY25, indicating positive operational momentum. The company's ability to consistently deliver profitable growth positions it well within its sector.
- Market Capitalization: ₹612 Crore (as of July 2025)
- Promoter Holding: 69.14% (as of Mar 2025)
- FY25 Revenue: ₹152 Crore
- FY25 Net Profit: ₹91.7 Crore
- Q4 FY25 Net Profit: ₹13.03 crore (up 114.66% YoY)
- Q4 FY25 Sales: ₹54.60 crore (up 110.32% YoY)
- Q3 FY25 Net Profit: ₹20 crore (up 3.6% YoY)
- Q3 FY25 Sales: ₹26.09 crore (up 15.7% YoY)
- P/E Ratio: 6.59
- P/B Ratio: 2.21
- Dividend Yield (TTM)%: 1.22%
- Recommended Final Dividend: ₹0.75 per equity share (14 May 2025)
ICL's core operations revolve around the manufacture and marketing of solid woven fabric reinforced polyvinyl chloride (PVC) impregnated and PVC covered fire retardant, anti-static conveyor belting. The company specializes in solutions for both underground and above-ground mining applications. ICL operates multiple manufacturing facilities and has enhanced its production capacity through its wholly-owned subsidiary, M/s International Belting Limited (IBL), increasing total capacity to 11,25,800 meters per annum. Its Aurangabad plant commenced commercial production in 1979.
The company's business segments include:
- Conveyor Belts: The primary revenue driver, focusing on specialized PVC conveyor belting.
- Wind Energy: Generation, supply, and sale of wind power (approx. 4.65 MW capacity) across Gujarat, Maharashtra, Karnataka, and Andhra Pradesh.
- Trading Goods: Includes steel cord conveyor belts and fasteners.
- Investment: Treasury operations managing equity instruments, inter-corporate deposits, and mutual funds.
International Conveyors Limited focuses on manufacturing PVC Fire Resistant Antistatic Solid Woven Coal Conveyor Belting, a critical component for mining and material handling. The company's in-house design team handles everything from power and tension calculations to detailed system designs, ensuring customized solutions that meet stringent client and international specifications. Beyond India, ICL exports a significant volume of PVC Belts to countries like the USA, Canada, South Africa, and Australia, adhering to their respective fire-resistant and anti-static standards.
While specific forward-looking expansion plans are not detailed in the provided text, the company's current strategy focuses on maintaining its leadership in specialized PVC conveyor belting, expanding its renewable energy portfolio (wind power), and leveraging its diversified business approach. The consistent increase in promoter holding to 69.14% signals strong management confidence in the company's ongoing growth trajectory and future prospects. International Conveyors Limited continues to serve critical infrastructure sectors while maintaining strong financial performance and adapting to market demands.
