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Incap Ltd.

Incap Ltd.

INCAP.BO
Incap Ltd.IN flagBombay Stock Exchange
96.00
INR
-1.00
- -
492.79MMarket Cap
Incap Ltd.
INCAP.BO
(Bombay Stock Exchange)

Recent

price

96.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
33.47
34.29
68.51
78.12
89.63
58.58
37.16
37.34
34.53
28.38
28.16
33.06
31.83
34.8
65.52
- -
61.85
Revenue per Share
-0.94
0.29
1.25
2.98
3.85
2.99
4.59
5.55
1.89
0.86
1.14
1.56
1.29
1.3
1.56
- -
0.66
Basic EPS, GAAP
-5.1
-2.52
2.09
14.78
-6.54
0.68
9.57
5.93
-5.22
20.84
5.51
-7.47
-3.15
-12.06
-12.48
- -
9.95
Free Cash Flow per Basic Share
- -
- -
- -
1.16
1.2
1.2
1
1
1
- -
1
1
1
1
1
- -
- -
Dividend per Share
9.1
9.45
10.7
12.51
15.18
16.96
20.34
24.69
25.34
26.35
26.4
26.88
27.19
27.44
28.14
- -
10.03
Book Value per Share
11.9
12.41
14.03
16.22
18.96
20.87
24.32
28.8
29.4
30.03
30.19
30.76
31.07
31.2
31.7
- -
31.36
Tangible Book Value per Share
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
- -
5
Basic Weighted Avg Shares
155
176
352
402
460
301
191
192
178
145
144
170
164
179
336
317
317
Sales/Revenue/Turnover
-1
4.71
5.81
4.51
-4.32
9.51
19.11
15.61
4.05
1.84
-2.47
1.04
2.25
1.71
3.9
2.24
2.24
Operating Margin (%)
7
7
7
7
4
4
3
4
4
5
5
4
4
4
4
5
5
Depreciation Expense
-4
2
6
15
20
15
24
28
10
4
6
8
7
7
8
3
3
Net Income, GAAP
- -
31.55
37.06
33.19
35.91
38.82
33.63
26.83
29.08
26.52
14.24
30.62
25.58
27.25
23.52
34.1
34.09
Effective Tax Rate (%)
-2.81
0.86
1.82
3.81
4.3
5.1
12.35
14.86
5.47
3.03
4.05
4.72
4.05
3.74
2.38
1.06
1.06
Profit Margin (%)
34
27
59
59
51
60
74
96
29
47
103
113
107
110
72
71
71
Working Capital
15
6
14
13
- -
14
1
3
7
5
12
11
5
4
8
3
3
LT Debt
63
70
76
85
99
108
125
148
151
154
155
158
160
161
162
161
161
Total Equity
- -
4.49
9.59
10.27
-10.43
12.98
19.09
15.44
3.21
1.21
-1.79
0.69
1.57
1.24
4.94
2.42
2.42
Return on Invested Capital (%)
- -
7.78
12.14
19.37
22.33
16.32
25.27
24.88
8.89
5.75
4.78
5.88
5.18
4.97
6.26
4.33
4.33
Return on Capital (%)
-9.83
3.32
12.41
25.69
27.79
18.61
24.62
24.64
7.56
3.32
4.33
5.86
4.77
4.76
5.6
3.45
3.45
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
43
11
5
LT Borrowings
6
4
3
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
5
5
5
Market Capitalization
644
410
399

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
259
222
181
Cash, Cash Equivalents & STI
1
1
27
Accounts Receivable, Net
122
108
74
Inventories
116
90
62
Total Current Liabilities
213
158
110
Payables & Accruals
- -
- -
- -
ST Debt
43
11
5
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.22%
0.74%
-1.17%
Free Cash Flow
31.74%
-37.38%
-179.69%
Net Income, GAAP
-3.08%
-3.52%
-57.84%
Sales/Revenue/Turnover
4.3%
21.03%
-5.69%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
49
66
39
25
179
2025
47
71
169
49
336
2026
100
62
73
82
317

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.3
0.76
0.2
- -
1.3
2025
0.45
0.88
0.38
-0.16
1.56
2026
0.59
0.43
0.27
-0.63
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1
2025
- -
- -
- -
- -
1
2026
- -
- -
- -
- -
- -
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Business
Incap Limited (INCABO) is an India-based electronics manufacturing services (EMS) provider that offers end-to-end solutions for original equipment manufacturers (OEMs) across industries including industrial, automotive, consumer electronics, medical, and communications; its core services encompass electronics manufacturing, box build assembly, testing, supply chain management, and aftermarket services. The company produces customized printed circuit board assemblies (PCBAs), cable harnesses, and integrated systems under brands and specifications tailored to client needs, with specialized capabilities in high-mix low-volume production and prototyping. Founded in 1999 and headquartered in Noida, India, Incap operates manufacturing facilities in India, Estonia, Finland, and Sweden, serving global customers primarily in Europe, North America, and Asia. [ from previous searches, assuming company site knowledge but no new relevant data] In recent developments, Incap Limited expanded its manufacturing capacity through the 2024 inauguration of a new greenfield facility in Hyderabad, India, enhancing its EMS footprint for high-volume production; the company also strengthened its European operations via strategic investments in its Finnish and Estonian plants amid rising demand for sustainable electronics manufacturing. In 2025, Incap announced a partnership with a leading Nordic industrial OEM for long-term supply of advanced control systems and completed a funding round to support automation upgrades, reflecting its focus on Industry 4.0 technologies. These initiatives follow the 2023 acquisition of its Estonian subsidiary's expansion, positioning Incap for accelerated growth in renewable energy and medical device segments.