INTERNATIONAL COMBUSTION (INDIA) LTD. (INTLCOMBQ) Fair Value & Analysis

Industrials · IN · Market cap ₹1.2B

A solid business, but screening 50% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (₹331.78). The favourable scenario is already priced in.
• Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
• A fairly wide model range (₹160.34 to ₹331.78) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 16, 2026.

How to read this chart

60‑month range ₹152.79 – ₹2,178 · fair‑value band ₹160.34 – ₹331.78 · the ₹488.60 price screens above the ₹246.06 fair value. Dashed = 300-day average. As of Aug 16, 2026.

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Analysis

INTERNATIONAL COMBUSTION (INDIA) LTD. (INTLCOMBQ) currently trades at ₹488.60, while our model-based Fair Value estimate is ₹246.06, implying the stock looks roughly 49.6% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Industrials 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: medium).

Over the trailing twelve months, INTERNATIONAL COMBUSTION (INDIA) LTD. generated revenue of ₹2.9B at a net margin of -0.8%. Revenue declined 1.0% year over year. It earns a return on equity of -1.8%. Net debt stands at ₹231M. Fundamentals as of Aug 16, 2026

Our scenario range runs from ₹160.34 (bear case) to ₹331.78 (bull case); at ₹488.60, 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 45% below its 52-week high and 41% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -46% fair-value upside, at -50%, INTLCOMBQ 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.

Widest divergence: Growth DCF (₹1,052) versus Dividend Discount (₹50.40). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

International Combustion (India) Limited manufactures and supplies heavy engineering equipment, geared motors and gear boxes, and dry mix products in India and internationally. It operates through three segments: Mineral & Material Processing and Handling Equipment; Gear Box and Geared Motor Drive System; and Building Material Division.

Full company description

International Combustion (India) Limited manufactures and supplies heavy engineering equipment, geared motors and gear boxes, and dry mix products in India and internationally. It operates through three segments: Mineral & Material Processing and Handling Equipment; Gear Box and Geared Motor Drive System; and Building Material Division. The company offers vibratory equipment, including grizzly screens/feeders, linear and circular motion screens, sizers, omni screens, flip flop screening machines, vibrating feeders and exciters, and polyurithine and rubber screen decks and liners, as well as monitoring systems for electronic vibrating machines. It also provides various grinding mills classifiers for drying systems; bulk material handling equipment, such as spiraling belt and girdle pocket elevators, scooping belt conveyers, and apron feeders; jaw, cone, and roll crushers, as well as vertical shaft impactors; and rotary drum dryers and coolers. In addition, the company offers mozer rotary dryers; polymer modified dry mortars; and bauer gear motors. International Combustion (India) Limited was incorporated in 1936 and is based in Kolkata, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

INTERNATIONAL COMBUSTION (INDIA) LTD. reported revenue of ₹2.9B in FY2026 versus ₹1.7B in FY2022, a compound +15.2%/yr. Reported net income was −₹23.9M in FY2026.

INTLCOMBQ screens 50% overvalued. Compare with GE Vernova Inc →

Peer Group

Specialty Industrial Machinery · 816 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.

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

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.

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.

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

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Frequently asked questions

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.