One of the plastic stocks engaged in the manufacturing and marketing of solid woven fabric reinforced polyvinyl chloride (PVC) conveyor belting solutions primarily for the mining sector, also engaging in wind energy, with a strong export presence. The stock is in focus after acquiring Rs. 14.74 crore worth of shares in Multi Commodity Exchange of India Ltd. (MCX)
Stock Price Movement
In Tuesday’s trading session, International Conveyors Limited’s share plunged by 2.73 percent from the previous close of Rs. 74.74. The stock is currently trading at Rs. 72.70, with a high of Rs. 75.58 and a low of Rs. 72.10. The market capitalization now stands at approximately Rs. 72.70 crore.
What Happened
International Conveyors Limited (ICL) has acquired equity shares in Multi Commodity Exchange of India Ltd. (MCX), a leading commodity derivatives exchange. The acquisition is valued at Rs. 14.744 crore and involves the purchase of 26,363 equity shares.
MCX operates under the regulatory framework of SEBI, facilitating commodity derivatives trading for price discovery and risk management. The company’s turnover for FY 2023-24 stands at Rs. 683.55 crore. The acquisition was completed on January 27, 2025.
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Customers Base
The company serves a diverse client base globally and domestically. International clients include Nutrien, Mosaic, Glencore, and Peabody Energy, while domestic customers comprise Shree Cement, Tata Steel, and SMS, showcasing its robust market presence both locally and globally.
Business Operations
The company operates through three segments, such as conveyor belting, manufacturing fire-retardant PVC belts for material transport with a 45 percent market share in India’s underground mine sector, and wind energy generating sustainable power via windmills in multiple states.
Recent quarter results
International Conveyors Limited’s revenue has decreased from Rs. 43 crore in Q2 FY24 to Rs. 31 crore in Q2 FY25, which is down by 27.91 percent. The net profit has grown by 17.39 percent, from Rs. 23 crore in Q2 FY24 to Rs. 27 crore in Q2 FY25.
Written By – Nikhil Naik
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