Indian Card Clothing Company Limited (INDIANCARD) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Indian Card Clothing Company Limited ₹104, price ₹188, upside -44.8%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range ₹132.13 – ₹413.10 · fair‑value band ₹72.82 – ₹132.81 · the ₹188.37 price screens above the ₹104.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 27, 2026.
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The Indian Card Clothing Company Limited manufactures and sells card clothing in India. It operates through Card Clothing and Realty segments.
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The Indian Card Clothing Company Limited manufactures and sells card clothing in India. It operates through Card Clothing and Realty segments. The company's products include cotton and synthetic products, such as cylinder wires, doffer wires, lickerin wires, and flat tops; metallic wires for non-woven cards; woolen, sundry, and fancy fillets; and rasing fillets and brush sheets for various fibres, yarn rasing fillets, humbugs, and hand cleaning cards. It also provides Accura carding systems for ERM and RSK; Accura carding elements; and XTRAC systems; and card room machinery, including TOPS height measurement and re-sharpening, wire re- sharpening, roller mounting, and clipit machines. In addition, the company engages in real estate activities. It also exports its products. The company was incorporated in 1955 and is based in Pune, India. The Indian Card Clothing Company Limited is a subsidiary of Multi Act Industrial Enterprises Limited.
Stock analysis
Indian Card Clothing Company Limited (INDIANCARD) currently trades at ₹188.37, while our model-based Fair Value estimate is ₹104.03, 44.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ₹386.79 per share, and 2 of the 10 models we run sit above the ₹188.37 price.
Bear case: the Earnings-Based group reads lowest at ₹52.04, and 8 of the 10 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹72.82 (bear) to ₹132.81 (bull), the price of ₹188.37 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 36/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Indian Card Clothing Company Limited reported revenue of ₹420M in FY2026 versus ₹619M in FY2022, a compound −9.2%/yr. Reported net income was ₹37.2M in FY2026, compounding −62.6%/yr from FY2022.
Key figures
Market cap ₹1.3B (≈ $13.8M) · P/E ratio 30.1 · P/S ratio 2.66 · EPS (TTM) ₹6.26 · Net margin 8.9% · Return on equity 1.1% · Return on assets (EBIT) −2.8% · Operating margin −45.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 28% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −19% fair-value upside, at −45%, INDIANCARD screens richer than that median.
Fair Value models
Bear ₹72.82Fair Value ₹104.03Bull ₹132.81
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹3.19 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.20/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+0.0%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−14.0%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−4.9%
Start year 2021 (pandemic). Over 10 years: −6.1% a year
Revenue growth 20 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−1.5%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−54.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−54.5%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−54.5% vs −14.3%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−5% → −36%
Start year 2021 (pandemic)
⚠ Revenue per share shrinking 9.0%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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Peer Groupⓘ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.Textile Manufacturing · 334 stocks
Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score36 · Bottom 25%
Fair Value upside−44.8% · Below median
Profitability
Return on equity (TTM)1.1% · Below median
Return on assets−2.5% · Bottom 25%
Net margin (TTM)8.9% · Top 25%
Operating margin (TTM)−45.8% · Bottom 25%
Growth and dividend
Revenue growth9.9% · Above median
Valuation Multiplesvs Textile Manufacturing median · lower = cheaper
P/E (TTM)30.1× · Pricier than median
P/B0.39× · Cheapest 25%
P/S (TTM)3.15× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 10
FUTURE (revenue growth)50· sector 29
PAST (return on equity)4· sector 17
HEALTH (low debt)100· sector 95
DIVIDEND (yield)0· sector 37
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Indian Card Clothing Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/INDIANCARD
Frequently asked questions
Is Indian Card Clothing Company Limited (INDIANCARD) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹104.03 versus a price of ₹188.37, about −45% upside (overvalued).
What is the fair value of INDIANCARD?
Our model-based fair value for Indian Card Clothing Company Limited is ₹104.03 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹188.37.
What is the quality score of INDIANCARD?
Indian Card Clothing Company Limited has a Quality Score of 36/100. 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 price target for Indian Card Clothing Company Limited (INDIANCARD)?
Our model-based price target is the fair value of ₹104.03 (as of Sep 27, 2026) from 10 valuation models. Cautious scenario ₹72.82, optimistic scenario ₹132.81. It is a calculation from audited fundamentals, not an analyst target.
What is the Indian Card Clothing Company Limited stock forecast for 2026?
Our models put fair value at ₹104.03, about −45% upside versus a price of ₹188.37 (overvalued). Cautious scenario ₹72.82, optimistic scenario ₹132.81. The calculation is refreshed regularly with new filings.
What is the revenue of Indian Card Clothing Company Limited (INDIANCARD)?
Indian Card Clothing Company Limited reported trailing-twelve-month revenue of about ₹420M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Indian Card Clothing Company Limited (INDIANCARD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Indian Card Clothing Company Limited it is ₹104.03 per share (as of Sep 27, 2026), against a price of ₹188.37. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Indian Card Clothing Company Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, INDIANCARD trades above its calculated fair value: price ₹188.37, fair value ₹104.03, a gap of about −45% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of INDIANCARD?
No. The price is what the market pays today (₹188.37); the fair value is what the company's own numbers justify (₹104.03). For Indian Card Clothing Company Limited the two are ₹84.34 per share apart. That gap is exactly why we show both numbers side by side.
How much is Indian Card Clothing Company Limited worth?
The market values Indian Card Clothing Company Limited at about ₹1.3B (market capitalisation, as of Sep 27, 2026). Per share that is ₹188.37; our models calculate a fair value of ₹104.03 per share.
What do the bullish and bearish scenarios say about INDIANCARD?
Our models span a range for Indian Card Clothing Company Limited: cautious scenario ₹72.82, base ₹104.03, optimistic ₹132.81 per share (as of Sep 27, 2026, price ₹188.37). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of INDIANCARD?
Indian Card Clothing Company Limited trades at a price-to-earnings ratio of 30.1 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹104.03 is built from several models across several years. Other multiples: P/B 0.4, P/S 3.2.
How solid is the balance sheet of Indian Card Clothing Company Limited (INDIANCARD)?
Balance-sheet figures for Indian Card Clothing Company Limited (as of Sep 27, 2026): return on equity 1.1%. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is INDIANCARD from its 52-week high?
Indian Card Clothing Company Limited trades at ₹188.37, about 28% below its 52-week high of ₹262.50 and 20% above the low of ₹156.60 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹104.03 is for.
Which stocks are comparable to Indian Card Clothing Company Limited?
From the same area (Consumer Cyclical) we also value Tongkun Group, Shenzhou International Group, Inner Mongolia ERDOS Resources Co, K.P.R. Mill Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Indian Card Clothing Company Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹188.37, calculated fair value ₹104.03 (−45%), Quality Score 36/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of INDIANCARD calculated?
We run Indian Card Clothing Company Limited through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹104.03, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Indian Card Clothing Company Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Indian Card Clothing Company Limited (INDIANCARD)?
The closing price on Oct 1, 2026 was ₹188.37. Our model-based fair value is ₹104.03, about −45% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Indian Card Clothing Company Limited right now?
The price sits above even our optimistic bull case (₹132.81). The favourable scenario is already priced in. Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (₹72.82 to ₹132.81) leaves room in how you read the outcome.
Key figures of Indian Card Clothing Company Limited
How large is the market capitalisation of Indian Card Clothing Company Limited (INDIANCARD)?
The market capitalisation of Indian Card Clothing Company Limited is ₹1.3B (≈ $13.8M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Indian Card Clothing Company Limited (INDIANCARD)?
The price-to-sales ratio of Indian Card Clothing Company Limited is 2.66 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Indian Card Clothing Company Limited (INDIANCARD)?
Earnings per share at Indian Card Clothing Company Limited are ₹6.26 (price ÷ EPS = P/E 30.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Indian Card Clothing Company Limited (INDIANCARD)?
The net margin of Indian Card Clothing Company Limited is 8.9% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Indian Card Clothing Company Limited (INDIANCARD)?
The return on equity (ROE) of Indian Card Clothing Company Limited is 1.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Indian Card Clothing Company Limited (INDIANCARD)?
On an EBIT basis the return on assets of Indian Card Clothing Company Limited is −2.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Indian Card Clothing Company Limited (INDIANCARD)?
The operating margin of Indian Card Clothing Company Limited is −45.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Indian Card Clothing Company Limited (INDIANCARD)?
Revenue at Indian Card Clothing Company Limited is growing +9.9% versus a year earlier (3y avg −14.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Indian Card Clothing Company Limited (INDIANCARD)?
Earnings per share at Indian Card Clothing Company Limited are growing −37.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Indian Card Clothing Company Limited (INDIANCARD) generate?
The free cash flow of Indian Card Clothing Company Limited is −₹163M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Indian Card Clothing Company Limited (INDIANCARD) hold?
Indian Card Clothing Company Limited holds more cash than debt, ₹37.4M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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