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International Conveyors Limited (509709) Fair Value & Analysis

Consumer Goods · IN · Market cap ₹1.8B

IC International Conveyors Limited 509709 · BSE
Price₹76.54
Fair Value₹56.24
Upside-26.5%
Quality56/100
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Expensive Growth
Thin margins · 6.0% net margin
Low debt
0.69% dividend yield
Narrow moat 32/100
Evidence: High Range ₹42.18 – ₹70.30 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 5 days ago

A solid business, but screening 27% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹70.30). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹117.70 ₹37.67 Fair Value ₹56.24 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹37.67 – ₹117.70 · fair‑value band ₹42.18 – ₹70.30 · the ₹76.54 price screens above the ₹56.24 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

International Conveyors Limited (509709) currently trades at ₹76.54, while our model-based Fair Value estimate is ₹56.24, implying the stock looks roughly 26.5% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Consumer Goods sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, International Conveyors Limited generated revenue of ₹1.1B at a net margin of 6.0%. Revenue grew 86.7% year over year. The stock trades on a trailing P/E of 28.2 (as of Jul 4, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹42.18 (bear case) to ₹70.30 (bull case); at ₹76.54, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 33% below its 52-week high and 28% above its 52-week low. For context, the median of 10 Consumer Goods peers we cover trades at -34% fair-value upside, at -27%, 509709 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹22.23 ₹33.34 ₹48.59 80
Residual Income ₹80.82 ₹117.35 ₹715.29 76
Rev-Margin DCF ₹25.46 ₹42.41 ₹63.23 74
All 26 models by family
DCF Models
FCF DCF ₹22.35 ₹34.53 ₹52.08 38
Owner Earnings ₹139.07 ₹217.09 ₹329.50 31
5Y Revenue Exit ₹25.46 ₹42.70 ₹65.51 39
5Y EBITDA Exit ₹26.85 ₹45.45 ₹68.01 41
5Y P/E Exit ₹121.88 ₹232.96 ₹356.97 38
10Y Revenue Exit ₹23.16 ₹37.97 ₹59.40 36
10Y EBITDA Exit ₹24.75 ₹39.77 ₹61.23 37
10Y P/E Exit ₹81.35 ₹162.25 ₹273.07 35
Earnings-Based
Graham-Dodd ₹92.38 ₹365.84 ₹496.93 54
Lynch FV ₹90.54 ₹129.34 ₹168.14 50
PEG = 1.0 ₹90.54 ₹129.34 ₹168.14 46
EPV ₹22.65 ₹25.63 ₹28.12 59
Dividend Discount
Gordon GGM ₹8.02 ₹14.46 ₹19.91 70
DDM Multi-Stage ₹8.02 ₹13.21 ₹15.45 61
Multiples
P/E Multiple ₹203.79 ₹271.72 ₹339.65 63
P/S Multiple ₹42.18 ₹56.24 ₹70.30 58
P/B Multiple ₹120.60 ₹160.80 ₹201.00 55
EV/EBIT ₹41.80 ₹55.48 ₹69.16 53
EV/EBITDA ₹32.92 ₹43.64 ₹54.36 54
EV/Revenue ₹28.42 ₹40.28 ₹52.14 43
Asset-Based
NCAV (Graham) ₹26.80 ₹35.91 ₹53.60 50
Growth DCF
Growth DCF ₹22.23 ₹33.34 ₹48.59 80
Rev-Margin DCF ₹25.46 ₹42.41 ₹63.23 74
Economic Profit
Residual Income ₹80.82 ₹117.35 ₹715.29 76
ROIC Compounder ₹22.65 ₹25.63 ₹28.12 72
Growth Earnings
Growth-Adj P/E ₹155.75 ₹222.50 ₹289.26 68

Widest divergence: Growth Earnings (₹222.50) versus Dividend Discount (₹13.21). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹1.1B
Revenue growth (YoY) +86.7%
Net margin 6.0%
P/E ratio 28.2 as of Jul 4, 2026
Operating margin 9.2%
EPS (TTM) ₹1.02
More key figures
Dividend yield 0.7%
EPS growth (YoY) +44.4%

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 58 · Market factors (momentum, volatility) 41

Profitability 65
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 38
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 21
Distance to the 52-week high (market factor)
Net Issuance 90
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

International Conveyors Limited, together with its subsidiaries, manufactures and markets PVC conveyor belting products in India and internationally. It operates through Conveyor Belting, Wind Energy, and Trading Goods segments.

Full company description

International Conveyors Limited, together with its subsidiaries, manufactures and markets PVC conveyor belting products in India and internationally. It operates through Conveyor Belting, Wind Energy, and Trading Goods segments. The company offers PVC fire resistant antistatic solid woven coal conveyor belting for underground mining operations of coal, potash, phosphate, fertilizer, clay, gypsum, and salt. It also trades in ply and steel cord conveyor belting products, and fittings and accessories. In addition, the company generates and sells wind power through its five wind mills located in Karnataka, Maharashtra, Gujarat, and Andhra Pradesh. The company was founded in 1973 and is based in Kolkata, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

International Conveyors Limited reported revenue of ₹1.5B in FY2025 versus ₹1.7B in FY2021, a compound −2.7%/yr. Reported net income was ₹917M in FY2025, compounding +53.3%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
₹1.5B
Latest YoY
+13.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−9.5%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.0%
Avg. growth/yr (11Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+1.3%
Revenue −2.7%/yr
FY21 ₹1.7B
FY22 ₹2.1B
FY23 ₹2.2B
FY24 ₹1.3B
FY25 ₹1.5B
Net income +53.3%/yr
FY21 ₹166M
FY22 ₹162M
FY23 ₹287M
FY24 ₹624M
FY25 ₹917M

509709 screens 27% overvalued. Compare with Finolex Industries Limited →

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Cite: Fair Value Calculator (2026). "International Conveyors Limited Fair Value". https://www.fairvalue-calculator.com/stock/509709

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Machino Plastics Limited 523248 ₹269.40 ₹43.10 -84%
Polylink Polymers (India) Limited 531454 ₹22.23 ₹9.41 -58%
Eastern Treads Limited 531346 ₹30.30 ₹3.27 -89%
Krypton Industries Limited 523550 ₹36.95 ₹35.73 -3%
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Frequently asked questions

Is International Conveyors Limited (509709) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹56.24 versus a price of ₹76.54, about −27% (overvalued).
What is the fair value of 509709?
Our model-based fair value for International Conveyors Limited is ₹56.24 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹76.54.
What is the quality score of 509709?
International Conveyors Limited has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of International Conveyors Limited (509709)?
International Conveyors Limited reported trailing-twelve-month revenue of about ₹1.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 509709?
The net profit margin of International Conveyors Limited is about 6.0%, meaning it keeps roughly 6.0% of revenue as net income. Based on the latest reported figures.
Does International Conveyors Limited pay a dividend?
International Conveyors Limited currently shows a dividend yield of about 0.69% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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