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Indian Card Clothing Co. Ltd.
(INDIANCARD)
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Rating:59Neutral
Price Target:
₹217.00
▼(-9.81% Downside)
Action:Reiterated
Date:07/09/26
The score is held back primarily by weak cash-flow quality and inconsistent operating performance, despite a very conservative balance sheet. Technical trends are constructive and provide support, but valuation looks demanding with a high P/E and no dividend yield data.
Positive Factors
Recurring consumable demand
Card clothing is a replaceable consumable used to maintain carding quality and mill productivity. This creates recurring demand from installed textile machinery, giving the company a durable replenishment-based business model rather than relying solely on new machine sales.
Negative Factors
Persistent free-cash-flow burn
Consistently negative free cash flow indicates that the business has not generated enough cash after investment needs to self-fund. Persistent cash burn can limit reinvestment, increase reliance on balance-sheet resources, and weaken the quality of earnings over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumable demand
Card clothing is a replaceable consumable used to maintain carding quality and mill productivity. This creates recurring demand from installed textile machinery, giving the company a durable replenishment-based business model rather than relying solely on new machine sales.
Read all positive factors
Indian Card Clothing Co. Ltd. (INDIANCARD) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.23B
Dividend Yield18.25%
Average Volume (3M)169.00
Price to Earnings (P/E)21.3
Beta (1Y)1.12
Revenue Growth1.17%
EPS Growth-78.08%
CountryIN
Employees202
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)10.08
Shares Outstanding5,941,120
10 Day Avg. Volume22
30 Day Avg. Volume169
Financial Highlights & Ratios
PEG Ratio-0.26
Price to Book (P/B)0.27
Price to Sales (P/S)2.21
P/FCF Ratio-5.72
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
Indian Card Clothing Co. Ltd. Business Overview & Revenue Model
Company Description
The Indian Card Clothing Company Limited manufactures and sells card clothing in India. It operates through Card Clothing and Realty segments. The company’s products include cotton and synthetic products, such as cylinder wires, doffer wires, lick...
How the Company Makes Money
INDIANCARD makes money primarily by manufacturing and selling card clothing products that are installed on carding machines in textile spinning mills. Revenue is generated from (1) sales of card clothing (the core product line), which functions as...
Indian Card Clothing Co. Ltd. Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
82
Very Positive
Cash Flow
29
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 522.09M | 420.27M | 420.31M | 554.57M | 661.14M | 619.35M |
| Gross Profit | 272.77M | 48.28M | 301.07M | 390.64M | 448.53M | 355.63M |
| EBITDA | 94.20M | 106.67M | 1.08B | 131.54M | 28.16M | 2.28B |
| Net Income | 59.90M | 37.20M | 918.69M | 79.66M | 36.62M | 1.91B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 3.67B | 3.77B | 2.92B | 2.81B | 3.01B |
| Cash, Cash Equivalents and Short-Term Investments | 895.48M | 895.48M | 798.23M | 513.91M | 1.12B | 1.88B |
| Total Debt | 0.00 | 31.75M | 168.75M | 249.76M | 208.67M | 191.89M |
| Total Liabilities | -3.43B | 235.78M | 383.17M | 458.31M | 428.61M | 340.17M |
| Stockholders Equity | 3.43B | 3.43B | 3.38B | 2.46B | 2.38B | 2.62B |
Cash Flow | ||||||
| Free Cash Flow | -104.69M | -162.71M | -331.21M | -41.73M | -28.49M | -67.01M |
| Operating Cash Flow | -80.16M | -123.67M | -173.22M | 15.49M | 29.56M | -889.00K |
| Investing Cash Flow | -92.05M | -79.34M | 574.76M | -207.78M | -1.21B | 1.67B |
| Financing Cash Flow | -123.49M | -135.86M | -118.50M | -21.12M | -308.38M | -45.93M |
Indian Card Clothing Co. Ltd. Technical Analysis
Negative
240.60
Price Trends
217.98
Negative
217.14
Negative
218.71
Negative
Market Momentum
-2.08
Negative
47.00
Neutral
9.89
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDIANCARD, the sentiment is Negative. The current price of 240.6 is above the 20-day moving average (MA) of 210.04, above the 50-day MA of 217.98, and above the 200-day MA of 218.71, indicating a bearish trend. The MACD of -2.08 indicates Negative momentum. The RSI at 47.00 is Neutral, neither overbought nor oversold. The STOCH value of 9.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:INDIANCARD.
Indian Card Clothing Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | ₹852.89M | 10.38 | ― | ― | -36.35% | 1.94% | |
59 Neutral | ₹1.23B | 21.33 | ― | 18.25% | 1.17% | -78.08% | |
59 Neutral | ₹1.10B | 18.32 | ― | 0.70% | 1.73% | ― | |
58 Neutral | ₹742.83M | 14.37 | ― | 1.03% | -38.13% | -69.53% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
44 Neutral | ₹906.74M | 15.83 | ― | 0.43% | 2.81% | 23.09% | |
44 Neutral | ₹944.34M | -0.55 | ― | ― | -29.50% | -20.43% |
* General Sector Average
IN:INDIANCARD
Indian Card Clothing Co. Ltd.
210.00
-65.05
-23.65%
IN:FIBERWEB
Fiberweb (India) Limited
26.00
-20.56
-44.16%
IN:RELCHEMQ
Reliance Chemotex Industries Ltd
117.30
-45.25
-27.84%
IN:SELMC
SEL Manufacturing Co. Ltd.
28.50
-2.45
-7.92%
IN:SPLIL
SPL Industries Limited
29.27
-11.53
-28.26%
IN:WEIZMANIND
Weizmann Limited
72.83
-36.28
-33.25%
Indian Card Clothing Co. Ltd. Corporate Events
Indian Card Clothing Sets Virtual AGM, Pushes Investors to Go Digital and Update KYC
Sep 3, 2026
Indian Card Clothing Company Limited has scheduled its 72nd Annual General Meeting for September 24, 2026, at 2:00 p.m. IST, to be conducted via video conferencing and other audio-visual means in line with evolving corporate governance and regulat...
Indian Card Clothing Sets Date and Modalities for 72nd AGM
Sep 2, 2026
Indian Card Clothing Company Limited has scheduled its 72nd Annual General Meeting for September 24, 2026, at 2:00 p.m. IST, to be conducted via video conferencing and other audio-visual means, with the registered office in Pune deemed as the venu...
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.