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Incap Overview

Incap Ltd. is an Indian company engaged in the manufacturing and distribution of electrical and electronic components, equipment, and solutions. Its offerings typically include wiring devices, switchgear, power distribution products, and other electrical accessories used in residential, commercial, and industrial applications. The company emphasizes quality manufacturing, adherence to safety standards, and durable product design to ensure reliable performance. Incap Ltd. leverages modern production technology, skilled workforce, and efficient ...Read More

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Incap Key Financials

Market Cap ₹51 Cr.

Stock P/E 63.6

P/B 3

Current Price ₹99

Book Value ₹ 32.9

Face Value 10

52W High ₹161

Dividend Yield 1.01%

52W Low ₹ 64

Incap Share Price

₹ | |

Volume
Price

Incap Quarterly Price

Show Value Show %

Incap Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 7 4 4 5 7 17 5 10 6 7
Other Income 0 -0 1 0 -0 0 0 0 0 0
Total Income 7 4 5 5 7 17 5 10 6 7
Total Expenditure 6 4 4 4 6 16 5 9 6 7
Operating Profit 1 0 0 0 1 0 0 1 1 0
Interest 0 0 -0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 0 0 0 0 0 0 0 0 0 0
Provision for Tax 0 0 0 0 0 0 0 0 0 0
Profit After Tax 0 0 0 0 0 0 -0 0 0 0
Adjustments 0 0 0 -0 0 0 0 0 0 0
Profit After Adjustments 0 0 0 0 0 0 -0 0 0 0
Adjusted Earnings Per Share 0.8 0.2 0 0.5 0.9 0.4 -0.2 0.6 0.4 0.3

Incap Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 46 30 29 28 21 38 21 23 21 19 34 28
Other Income 1 0 0 1 1 1 1 1 1 1 0 0
Total Income 47 30 29 29 22 39 22 24 22 20 34 28
Total Expenditure 43 27 25 25 19 38 21 23 21 19 32 27
Operating Profit 4 4 4 4 2 2 1 2 1 2 2 2
Interest 1 1 0 0 0 1 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 3 3 4 4 1 1 1 1 1 1 1 0
Provision for Tax 1 1 1 1 0 0 0 0 0 0 0 0
Profit After Tax 2 2 2 3 1 0 1 1 1 1 1 0
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 2 2 2 3 1 0 1 1 1 1 1 0
Adjusted Earnings Per Share 3.8 3 4.6 5.5 1.9 0.9 1.1 1.6 1.3 1.3 1.6 1.1

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 79% 14% -2% -3%
Operating Profit CAGR 0% 0% 0% -7%
PAT CAGR 0% 0% 0% -7%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 10% 39% 38% 14%
ROE Average 5% 4% 4% 10%
ROCE Average 8% 7% 7% 15%

Incap Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 10 11 13 15 15 15 15 16 16 16 16
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 1 0 1 1 1 0 1
Other Non-Current Liabilities 0 0 0 0 0 0 0 0 0 0 0
Total Current Liabilities 25 10 6 7 8 19 20 12 12 11 13
Total Liabilities 35 21 19 22 25 36 37 30 28 28 30
Fixed Assets 5 5 4 4 5 5 4 3 4 3 7
Other Non-Current Assets 0 0 1 1 8 7 2 2 2 2 3
Total Current Assets 30 15 14 17 11 24 30 24 22 22 20
Total Assets 35 21 19 22 25 36 37 30 28 28 30

Incap Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 4 3 0 4 8 3 14 18 15 13 8
Cash Flow from Operating Activities -2 2 5 4 -2 11 3 -4 -1 -6 -2
Cash Flow from Investing Activities -0 -0 1 0 -2 1 1 1 0 1 -5
Cash Flow from Financing Activities 2 -5 -2 -0 -0 -1 0 -1 -1 1 2
Net Cash Inflow / Outflow -0 -3 4 3 -5 11 4 -3 -2 -5 -5
Closing Cash & Cash Equivalent 3 0 4 8 3 14 18 15 13 8 3

Incap Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 3.85 2.99 4.59 5.55 1.89 0.86 1.14 1.56 1.29 1.3 1.56
CEPS(Rs) 4.55 3.73 5.17 6.27 2.76 1.74 2.06 2.42 2.05 2.05 2.3
DPS(Rs) 1 1 1 1 1 0 1 1 1 1 1
Book NAV/Share(Rs) 19.27 21.06 24.45 28.79 29.45 29.91 30.16 30.83 31.12 31.31 31.65
Core EBITDA Margin(%) 6.2 10.77 13.68 11.84 5.65 1.88 0.55 2.66 2.23 3.23 5.14
EBIT Margin(%) 8.01 10.69 13.98 14.24 8.57 3.03 4.12 5.85 5.22 5.79 4.57
Pre Tax Margin(%) 6.7 8.34 12.43 13.72 6.66 1.56 3.26 4.99 4.23 4.75 3.11
PAT Margin (%) 4.3 5.1 8.25 10.04 4.72 1.15 2.8 3.47 3.15 3.46 2.38
Cash Profit Margin (%) 5.08 6.36 9.29 11.34 6.9 2.34 5.05 5.37 5.01 5.44 3.52
ROA(%) 6.38 5.49 11.76 13.69 4.14 1.46 1.62 2.43 2.29 2.39 2.76
ROE(%) 21.44 14.82 20.18 20.85 6.5 2.89 3.79 5.13 4.17 4.18 4.95
ROCE(%) 30.02 24.05 32.09 28.97 11.31 7.24 5.16 7.74 6.31 6.23 7.59
Receivable days 88.85 129.82 94.25 80.49 99.56 57.68 127.22 99.09 98.41 151.09 130.5
Inventory Days 39.6 65.25 48.87 36.42 52.72 22.9 31.78 34.98 37.37 45.93 28.03
Payable days 43.72 58.01 85.88 118.73 173.8 436.76 628.33 390.38 288.86 226.5 90.34
PER(x) 3.88 9.37 6.64 16.29 19.73 27.73 16.99 24.47 26.65 50.01 62.5
Price/Book(x) 0.78 1.33 1.25 3.14 1.27 0.79 0.64 1.24 1.11 2.08 3.08
Dividend Yield(%) 6.69 3.57 3.28 1.11 2.68 0 5.17 2.61 2.9 1.53 1.03
EV/Net Sales(x) 0.19 0.52 0.4 1.39 0.84 -0.02 -0.29 0.29 0.3 1.45 1.56
EV/Core EBITDA(x) 2.22 4.32 2.69 8.92 7.78 -0.49 -4.58 3.72 4.17 18.69 27.28
Net Sales Growth(%) 14.55 -34.64 -4.97 -0.71 -27.44 86.19 -45.44 10.77 -9.07 -8.05 73.4
EBIT Growth(%) 21.07 -12.73 24.25 1.18 -56.36 -34.19 -25.81 57.31 -18.77 1.93 36.91
PAT Growth(%) 28.98 -22.32 53.6 20.85 -65.89 -54.76 33 37.25 -17.35 0.97 19.39
EPS Growth(%) 28.98 -22.32 53.6 20.85 -65.89 -54.76 33 37.26 -17.35 0.97 19.39
Debt/Equity(x) 0.47 0.13 0.01 0.03 0.06 0.04 0.12 0.12 0.07 0.17 0.33
Current Ratio(x) 1.21 1.59 2.17 2.36 1.35 1.24 1.52 1.91 1.93 2 1.56
Quick Ratio(x) 0.96 1.11 1.69 1.98 0.96 1.16 1.42 1.73 1.76 1.74 1.38
Interest Cover(x) 6.14 4.56 9.05 27.55 4.49 2.06 4.81 6.86 5.27 5.59 3.14
Total Debt/Mcap(x) 0.61 0.1 0.01 0.01 0.05 0.06 0.18 0.1 0.07 0.08 0.11

Incap Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 66.89 66.91 66.91 66.91 66.91 66.91 66.91 66.91 66.91 66.91
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 33.11 33.09 33.09 33.09 33.09 33.09 33.09 33.09 33.09 33.09
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Incap News

Incap Pros & Cons

Pros

  • Debtor days have improved from 226.5 to 90.34days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 4% over the last 3 years.
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