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Integrated Capital Services Ltd (ICSL) Fair Value & Analysis

Financials · IN · Market cap ₹155M

IC Integrated Capital Services Ltd ICSL · BSE
Price₹3.25
Fair Value₹0.3900
Upside-88.0%
Quality49/100
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Expensive Growth
Loss-making · -148.5% net margin
Low debt · negative free cash flow
Trails peers (0/9)
Narrow moat 2/100
Evidence: Low Range ₹0.2600 – ₹0.4800 Share as image

Fair value as of: Aug 13, 2026

From 3 valuation models · updated 6 days ago

Below-average quality, and screening another 88% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹0.4800). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹0.2600 to ₹0.4800) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹12.70 ₹1.95 Fair Value ₹0.3900 Feb 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 ₹1.95 – ₹12.70 · fair‑value band ₹0.2600 – ₹0.4800 · the ₹3.25 price screens above the ₹0.3900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Integrated Capital Services Ltd (ICSL) currently trades at ₹3.25, while our model-based Fair Value estimate is ₹0.3900, implying the stock looks roughly 88.0% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Financials 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: low).

Trailing-twelve-month revenue stands at ₹8.4M. Revenue declined 18.5% year over year. It earns a return on equity of -14.4%. Net debt stands at ₹1.5M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹0.2600 (bear case) to ₹0.4800 (bull case); at ₹3.25, 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 42% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financials peers we cover trades at 9% fair-value upside, at -88%, ICSL screens richer 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
Gordon GGM ₹0.3100 ₹0.5200 ₹0.6700 70
DDM Multi-Stage ₹0.3100 ₹0.4400 ₹0.5500 61
NCAV (Graham) ₹1.17 ₹1.57 ₹2.34 50
All 3 models by family
Dividend Discount
Gordon GGM ₹0.3100 ₹0.5200 ₹0.6700 70
DDM Multi-Stage ₹0.3100 ₹0.4400 ₹0.5500 61
Asset-Based
NCAV (Graham) ₹1.17 ₹1.57 ₹2.34 50

Widest divergence: Asset-Based (₹1.57) versus Dividend Discount (₹0.4400). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) ₹8.4M
Revenue growth (YoY) -18.5%
Net margin -148%
Return on equity -14.4%
Free cash flow −₹22.2M FY2026
Operating margin -9.5%
More key figures
EPS (TTM) ₹-0.2200
EPS growth (YoY) +69.4%
Net debt ₹1.5M FY2026

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

Quality Score breakdown

Overall quality 49/100

Of which business quality 49 · Market factors (momentum, volatility) 26

Profitability 2
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 16
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 82
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

Integrated Capital Services Limited, together with its subsidiaries, provides advisory services for the management of assets in India. The company offers its corporate advisory and consulting services in the areas of turnaround and restructuring, business combinations, takeovers, mergers and amalgamations, and accounting services.

Full company description

Integrated Capital Services Limited, together with its subsidiaries, provides advisory services for the management of assets in India. The company offers its corporate advisory and consulting services in the areas of turnaround and restructuring, business combinations, takeovers, mergers and amalgamations, and accounting services. It also provides advisory, compliance, and representation services to on-going/new businesses; business consolidation/restructuring services; and advisory, setting-up, and implementing accounting systems, as well as accounting services on an outsourced basis. Integrated Capital Services Limited was incorporated in 1993 and is based in New Delhi, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Integrated Capital Services Ltd reported revenue of ₹8.4M in FY2026 versus ₹7.5M in FY2022, a compound +2.8%/yr. Reported net income was −₹12.5M in FY2026.

Growth Quality 17/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹8.4M
Latest YoY
+26.9%
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.
−19.2%
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.
+5.2%
Avg. growth/yr (12Y) 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.
−6.3%
Revenue +2.8%/yr
FY22 ₹7.5M
FY23 ₹15.9M
FY24 ₹5.3M
FY25 ₹6.6M
FY26 ₹8.4M
Net income
FY22 −₹45.2M
FY23 ₹7.4M
FY24 −₹235K
FY25 −₹69.0K
FY26 −₹12.5M

ICSL screens 88% overvalued. Compare with Affiliated Managers Group →

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Cite: Fair Value Calculator (2026). "Integrated Capital Services Ltd Fair Value". https://www.fairvalue-calculator.com/stock/ICSL

Peer Group

Investment Banking & Investment Services · 15 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 48 · Below median
Fair Value upside −88% · Bottom 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -148% · Bottom 25%
Operating margin (TTM) -9% · Bottom 25%
Revenue growth -19% · Below median
Dividend yield (TTM) 1.0% · Bottom 25%
Debt / equity 0.25× · Higher than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 25
FUTURE0 · sector 0
PAST0 · sector 0
HEALTH88 · sector 100
DIVIDEND20 · sector 33

VALUE 0: the price sits above our fair-value range.

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

Similar stocks

10 more Investment Banking & Investment Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Affiliated Managers Group MGR $19.98 $36.17 +81%
Hercules Capital, Inc HCXY $25.00 $50.00 +100%
Edelweiss Financial Services Limited 532922 ₹118.95 ₹120.44 +1%
Mirae Asset Venture Investment Co 100790 17,570 KRW 15,124 KRW -14%
Aju IB Investment Co 027360 4,585 KRW 1,047 KRW -77%
EBEST Investment & Securities Co 078020 6,670 KRW 6,663 KRW -0%
IKAB IKAB ₹1,072 ₹118.55 -89%
SERA SERA ₹43.28 ₹84.55 +95%
ABA ABA 0.3150 PHP 0.6300 PHP +100%
Lindeman Asia Investment Co 277070 3,010 KRW 3,279 KRW +9%

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Frequently asked questions

Is Integrated Capital Services Ltd (ICSL) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹0.3900 versus a price of ₹3.25, about −88% (overvalued).
What is the fair value of ICSL?
Our model-based fair value for Integrated Capital Services Ltd is ₹0.3900 (as of Aug 13, 2026), built from audited fundamentals. The current price: ₹3.25.
What is the quality score of ICSL?
Integrated Capital Services Ltd has a Quality Score of 49/100. 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 Integrated Capital Services Ltd (ICSL)?
Integrated Capital Services Ltd reported trailing-twelve-month revenue of about ₹8.4M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ICSL?
The net profit margin of Integrated Capital Services Ltd is about -148.5%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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