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    Financial - Conglomerates
India Cements Capital Limited

India Cements Capital Limited

INDCEMCAP.BO
India Cements Capital LimitedIN flagBombay Stock Exchange
19.05
INR
+0.54
- -
413.50MMarket Cap
India Cements Capital Limited
INDCEMCAP.BO
(Bombay Stock Exchange)

Recent

price

19.05

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
3.19
2.59
2.61
2.49
176.82
177.49
179.58
175.33
229.22
406.37
17.94
28.99
95.84
171.19
2.61
- -
2.27
Revenue per Share
0.1
-0.05
0.02
0.08
0.23
0.15
0.25
0.37
0.06
0.01
-0.13
0.11
0.33
0.7
0.26
- -
-0.21
Basic EPS, GAAP
0.53
-0.9
0.53
-0.06
0.08
0.71
-0.14
0.94
-1.74
0.91
0.79
-0.23
-0.22
-0.05
-0.03
- -
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
6.21
6.16
6.17
6.23
6.35
6.5
0.73
1.03
1.09
1.1
0.97
1.09
1.42
2.11
2.4
- -
9.84
Book Value per Share
11.98
11.94
11.97
12.06
12.24
12.37
6.65
7.02
7.09
7.09
6.96
7.08
7.41
8.1
8.47
- -
8.03
Tangible Book Value per Share
22
22
22
22
22
22
22
22
22
22
22
22
22
22
21
- -
22
Basic Weighted Avg Shares
69
56
57
54
3,838
3,853
3,898
3,806
4,975
8,821
389
629
2,080
3,716
56
50
50
Sales/Revenue/Turnover
3.91
-4.28
1.52
3.3
0.16
0.09
0.16
0.26
-0.02
-0.01
-2.81
-0.36
0.26
0.45
5.73
-10.6
-10.61
Operating Margin (%)
5
2
2
2
3
2
1
1
1
1
1
1
1
1
1
1
1
Depreciation Expense
2
-1
- -
2
5
3
5
8
1
- -
-3
2
7
15
6
-5
-5
Net Income, GAAP
44.71
- -
71.27
20.32
25.79
26.43
30.06
25.97
33.86
79.72
- -
16.29
14.27
24.61
25.07
- -
28.48
Effective Tax Rate (%)
3.17
-1.84
0.68
3.34
0.13
0.08
0.14
0.21
0.03
- -
-0.7
0.39
0.35
0.41
9.97
-9.06
-9.07
Profit Margin (%)
109
111
114
116
118
122
128
143
149
153
138
147
152
179
185
174
174
Working Capital
371
372
382
382
395
406
427
432
435
438
442
446
444
443
448
- -
- -
LT Debt
263
261
262
264
267
271
147
154
156
156
153
155
163
178
183
179
179
Total Equity
0.33
- -
0.04
0.22
0.71
0.39
0.7
1.28
-0.1
-0.02
- -
-0.31
0.76
2.07
0.38
- -
- -
Return on Invested Capital (%)
0.7
- -
0.13
0.36
0.97
0.61
1.17
1.82
0.35
0.04
- -
0.61
1.53
3.15
1.23
- -
- -
Return on Capital (%)
1.63
-0.77
0.29
1.34
3.58
2.26
6.99
41.8
5.84
0.49
-12.12
10.96
26.49
39.37
11.44
-3.38
-3.39
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
437
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
22
- -
22
Market Capitalization
354
316
227

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
223
- -
201
Cash, Cash Equivalents & STI
185
- -
158
Accounts Receivable, Net
26
- -
30
Inventories
- -
- -
- -
Total Current Liabilities
48
- -
27
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-2.51%
3.27%
-2.3%
Free Cash Flow
-5,817.71%
-11,370.9%
-56,612.45%
Net Income, GAAP
-263.62%
-26.25%
-181.61%
Sales/Revenue/Turnover
27.33%
52.42%
-10.27%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
18
19
16
3,663
3,716
2025
17
14
13
12
56
2026
14
11
12
13
50

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.26
0.27
0.11
- -
0.7
2025
0.16
0.08
-0.01
0.02
0.26
2026
0.08
-0.03
-0.08
-0.17
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
India Cements Capital Limited (ICCL) is a financial services company providing foreign exchange, forex advisory, share broking, and travel services; headquartered in Chennai, Tamil Nadu, India, with a nationwide network of 26 branches; founded in 1985 as Aruna Finance Ltd. and later acquired by subsidiaries of The India Cements Ltd. in 1997, changing its name to India Cements Capital & Finance Ltd. The company offers core products and services including money changing under the For X Change brand as an RBI-approved Authorised Dealer Category-II, buying and selling major foreign currencies, remittances, travel insurance, and prepaid forex cards; forex advisory via Midas Advisory for risk management to importers and exporters; share broking through its subsidiary India Cements Investment Services Ltd., a member of the National Stock Exchange covering cash markets, futures and options, currency derivatives, commodities, mutual funds, IPOs, and depository services; and travel services through Coromandel Travels encompassing ticketing, hotel bookings, visa processing, and IATA-accredited operations. ICCL operates primarily in India, targeting retail customers, NRIs, businesses, travelers, and investors, with additional interbank forex broking capabilities. Recent developments include the parent company The India Cements Ltd. becoming a subsidiary of UltraTech Cement Limited following a 55.5% stake acquisition approved by the Competition Commission of India in December 2024, alongside a December 2025 agreement by India Cements subsidiaries to divest their entire stake in Indonesian affiliate PT Adcoal Energindo for approximately INR 5.4 crore.