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ICDS Ltd.
(ICDSLTD)
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Rating:63Neutral
Price Target:
₹75.00
▲(91.57% Upside)
Action:Downgraded
Date:09/06/26
The score is primarily supported by a strong, low-debt balance sheet and generally positive recent cash generation. Offsetting this, operating and revenue volatility (including weakened core profitability in FY2026) and a very high P/E valuation materially reduce the score, while technicals show an uptrend but with overbought signals that add near-term risk.
Positive Factors
Very low leverage
The near absence of debt reduces interest burden and refinancing exposure, giving ICDS greater resilience if operating conditions weaken. Combined with an improving equity base, this conservative funding structure preserves financial flexibility for sustaining operations and selectively supporting future growth.
Negative Factors
Revenue contraction
The sharp FY2026 revenue decline weakens visibility into the company’s operating trajectory and suggests that recent growth has not been consistently sustained. Persistent top-line volatility can pressure utilization, reduce operating leverage, and make future cash generation and planning less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
The near absence of debt reduces interest burden and refinancing exposure, giving ICDS greater resilience if operating conditions weaken. Combined with an improving equity base, this conservative funding structure preserves financial flexibility for sustaining operations and selectively supporting future growth.
Read all positive factors
ICDS Ltd. (ICDSLTD) vs. iShares MSCI India ETF (INDA)
Market Cap
₹912.78M
Dividend YieldN/A
Average Volume (3M)572.00
Price to Earnings (P/E)140.1
Beta (1Y)0.18
Revenue Growth-46.20%
EPS Growth-68.73%
CountryIN
Employees14
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Diversified
Share Statistics
EPS (TTM)0.16
Shares Outstanding13,026,700
10 Day Avg. Volume1,312
30 Day Avg. Volume572
Financial Highlights & Ratios
PEG Ratio-2.20
Price to Book (P/B)1.78
Price to Sales (P/S)25.94
P/FCF Ratio19.49
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
ICDS Ltd. Business Overview & Revenue Model
Company Description
ICDS Limited operates in India, engaging in the buying and selling of shares, securities, mobile phones, and accessories. The company further diversifies its operations through the leasing of investment real estate and the promotion of various lif...
ICDS Ltd. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
82
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.02M | 23.92M | 38.68M | 35.12M | 22.59M | 12.75M |
| Gross Profit | 4.11M | -601.00K | 39.02M | 30.14M | 16.56M | 7.96M |
| EBITDA | 4.20M | 18.08M | 33.77M | 27.99M | 9.61M | 63.39M |
| Net Income | 491.00K | 10.93M | 14.03M | 20.35M | 3.81M | 58.36M |
Balance Sheet | ||||||
| Total Assets | 284.48M | 330.23M | 321.95M | 286.62M | 268.32M | 266.09M |
| Cash, Cash Equivalents and Short-Term Investments | 106.15M | 83.90M | 69.45M | 78.38M | 80.08M | 52.29M |
| Total Debt | 2.29M | 0.00 | 2.63M | 3.59M | 2.96M | 9.26M |
| Total Liabilities | 11.47M | 30.58M | 32.52M | 11.23M | 13.19M | 13.95M |
| Stockholders Equity | 273.01M | 299.64M | 289.43M | 275.39M | 255.13M | 252.14M |
Cash Flow | ||||||
| Free Cash Flow | 3.66M | 27.44M | 9.53M | 1.83M | 63.56M | -8.35M |
| Operating Cash Flow | 3.66M | 28.02M | 10.57M | 10.04M | 63.62M | -5.39M |
| Investing Cash Flow | 0.00 | -20.15M | -14.18M | -5.88M | -61.71M | 2.31M |
| Financing Cash Flow | 0.00 | -2.63M | 1.14M | -1.63M | -1.97M | 3.14M |
ICDS Ltd. Technical Analysis
Positive
39.15
Price Trends
42.86
Positive
44.90
Positive
44.45
Positive
Market Momentum
5.57
Negative
74.01
Negative
90.59
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ICDSLTD, the sentiment is Positive. The current price of 39.15 is below the 20-day moving average (MA) of 45.91, below the 50-day MA of 42.86, and below the 200-day MA of 44.45, indicating a bullish trend. The MACD of 5.57 indicates Negative momentum. The RSI at 74.01 is Negative, neither overbought nor oversold. The STOCH value of 90.59 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ICDSLTD.
ICDS Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | ₹912.78M | 140.10 | ― | ― | -46.20% | -68.73% | |
61 Neutral | ₹562.67M | 18.07 | ― | 0.79% | 53.91% | 99.01% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
42 Neutral | ₹436.23M | -1.24 | ― | 1.87% | -63.77% | -537.92% | |
42 Neutral | ₹289.29M | -0.60 | ― | 0.83% | -26.71% | -1511.10% | |
42 Neutral | ₹656.70M | -9.80 | ― | 8.71% | 85.78% | -232.43% | |
42 Neutral | ₹579.01M | -3.05 | ― | 0.26% | -50.11% | 87.17% |
* General Sector Average
IN:ICDSLTD
ICDS Ltd.
62.03
14.05
29.28%
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22.95
-35.35
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IN:GSS
GSS Infotech Limited
10.90
-16.27
-59.88%
IN:HGM
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49.30
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17.19
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-28.29%
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.