The shares of a Micro-Cap company, specializing in the manufacturing and marketing of solid woven PVC conveyor belts, and many others, jumped upto 15 percent following the promoter group added stake in the company.
With a market capitalization of Rs. 603.18 crores on Wednesday, the shares of International Conveyors Limited jumped upto 15.7 percent in intraday trade, making a high of Rs. 90.30 per share compared to the opening price of Rs. 78.04 per share.
International Conveyors Limited had two separate acquisitions of shares by the Promoter Group of Elpro International Limited, which were reported to the exchange.
On 12th June 2025, 59,941 shares were purchased at Rs. 86.6 each, totaling Rs. 51.88 Lakh, resulting in a post-transaction holding of 479,803 shares (0.76% of the company). On 13th June 2025, 33,688 shares were bought at an average price of Rs. 85.7, totaling Rs. 28.86 Lakh, increasing their holding to 513,491 shares (0.81% of the company) in which both the transactions were reported to the exchange on 17 Jun 2025 and transactions were market purchases of equity shares and fall under insider trading regulations.
Along with it, International Conveyors Limited has acquired 710 Compulsory Convertible Preference Shares (CCPS) in JSW One Platforms Ltd. for a cash consideration of ₹40.24 crore. JSW One is a leading Indian B2B e-commerce platform catering to construction and manufacturing MSMEs, with a turnover of ₹3,962.81 crore in FY 2024-25, and it is a fast-growing digital business within the JSW Group.
Financials & Others
The company’s revenue rose by 64 percent from Rs. 34.12 crore to Rs. 56.07 crore in Q4FY24-25. Meanwhile, Net profit rose from Rs. 6.07 crore to Rs. 13.03 crore during the same period.
The company’s P/E ratio of 6.09 is well below the industry average of 33.88, and its PEG ratio of 0.13 indicates potential undervaluation. With a low debt-to-equity ratio of 0.24 and a strong promoter holding of over 65%. Additionally, it has delivered robust three-year net profit growth averaging 56.82%.
International Conveyors Limited (ICL), founded in 1973 and based in Aurangabad, India, is a leading manufacturer of solid woven fabric reinforced PVC conveyor belts, primarily serving the mining sector and various industries. It is the second largest manufacturer of PVC solid woven belting globally, exporting over 90 percent of its production to countries like the USA, Canada, South Africa, and Australia.
The company has a set of marquee clients both domestically and internationally. In the domestic market, its key clients include Shree Cement, SMS, Tata Steel, and Coal India, among others. Internationally, the company serves major clients such as Nutrien, Mosaic, Rosebud Mining Company, Glencore, Belt Tech, and others.
Written by Sridhar J
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