ICDSLTD

ICDS Limited

Diversified financial and commercial services company

Services›Services›Commercial Services & Supplies›Diversified Commercial Services

icdslimited.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹46.50
Market cap
60 Cr
Stock P/E
92.6
P/B
2.02
ROE (FY26)
3.6%
ROCE (FY26)
4.8%
Operating margin (FY26)
-4.5%
Debt / equity (FY26)
0.00
OCF / EBITDA (FY26)
598.2%
OCF / EBITDA (3Y)
-104.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

ICDS (ICDS Limited) is a small Manipal, Karnataka-based company that earns most of its income as rent from investment properties, alongside recovery of old loans and advances, trading in shares and securities, and marketing life and general insurance products.

Company snapshot

35thBy market cap

Ranked among 36 companies in Diversified Commercial Services.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 99.6% of revenue

SegmentRevenue shareRevenuePBTAssets
Financial Services (Recovery Activities)—0 Cr0.09 Cr12 Cr
Others
0.4%
0.0021 Cr0.0021 Cr0 Cr
Rent on premises
99.6%
0.51 Cr0.35 Cr11 Cr
Trading Activities—0 Cr0.10 Cr6 Cr

What we see

Positives
  • ✓Net margin of 45.7% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales0.57 Cr0.50 Cr0.71 Cr0.52 Cr0.53 Cr0.51 Cr2 Cr0.77 Cr0.53 Cr0.57 Cr0.52 Cr0.61 Cr
Operating expenses (approx.)0.38 Cr0.29 Cr0.39 Cr0.39 Cr0.27 Cr0.35 Cr0.84 Cr0.41 Cr0.43 Cr0.32 Cr0.96 Cr0.61 Cr
EBITDA0.19 Cr0.21 Cr0.32 Cr0.13 Cr0.26 Cr0.16 Cr2 Cr0.37 Cr0.10 Cr0.25 Cr-0.44 Cr0.0085 Cr
OPM %32.9%41.6%45.4%25.3%48.8%32.1%64.4%47.4%18.0%44.2%-85.7%1.4%
Other income0.81 Cr-0.05 Cr0.20 Cr0.71 Cr0.70 Cr0.39 Cr-0.48 Cr1 Cr-0.17 Cr0.38 Cr0.06 Cr1 Cr
Interest0.02 Cr0.02 Cr0.02 Cr0.02 Cr0.02 Cr0.02 Cr0.02 Cr0.02 Cr0.01 Cr0.02 Cr0.01 Cr0.02 Cr
Depreciation0.09 Cr0.09 Cr0.09 Cr0.09 Cr0.09 Cr0.09 Cr0.09 Cr0.09 Cr0.09 Cr0.10 Cr0.10 Cr0.09 Cr
Profit before tax0.89 Cr0.05 Cr0.42 Cr0.73 Cr0.84 Cr0.44 Cr0.91 Cr2 Cr-0.19 Cr0.52 Cr-0.50 Cr1 Cr
Tax %4.6%213.3%27.0%5.1%23.4%275.3%8.5%10.1%-68.6%13.2%15.3%7.9%
Net profit0.85 Cr-0.06 Cr0.31 Cr0.69 Cr0.65 Cr-0.77 Cr0.84 Cr1 Cr-0.32 Cr0.46 Cr-0.42 Cr0.93 Cr
EPS (₹)₹0.65₹-0.04₹0.24₹0.53₹0.50₹-0.59₹0.64₹1.06₹-0.24₹0.35₹-0.32₹0.72

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2 Cr6 Cr3 Cr2 Cr1 Cr1 Cr2 Cr2 Cr4 Cr2 CrSign in free for the trailing twelve months
Operating expenses (approx.)2 Cr2 Cr5 Cr4 Cr2 Cr2 Cr2 Cr1 Cr2 Cr2 CrSign in free for the trailing twelve months
EBITDA0.31 Cr4 Cr-2 Cr-2 Cr-0.67 Cr-0.50 Cr0.13 Cr0.84 Cr2 Cr0.27 CrSign in free for the trailing twelve months
OPM %12.8%68.8%-78.6%-107.7%-64.0%-42.9%6.7%36.9%52.9%11.3%Sign in free for the trailing twelve months
Other income7 Cr0.80 Cr0.78 Cr2 Cr2 Cr0.32 Cr0.83 Cr2 Cr1 Cr2 CrSign in free for the trailing twelve months
Interest0.14 Cr0.07 Cr0.06 Cr0.08 Cr0.08 Cr0.07 Cr0.06 Cr0.08 Cr0.08 Cr0.06 CrSign in free for the trailing twelve months
Depreciation0.14 Cr0.14 Cr0.14 Cr0.35 Cr0.34 Cr0.33 Cr0.36 Cr0.36 Cr0.37 Cr0.38 CrSign in free for the trailing twelve months
Profit before tax7 Cr4 Cr-2 Cr-0.71 Cr1 Cr6 Cr0.53 Cr2 Cr3 Cr1 CrSign in free for the trailing twelve months
Tax %4.4%29.5%-7.3%-14.9%628.8%1.7%28.7%13.8%52.1%20.2%Sign in free for the trailing twelve months
Net profit7 Cr3 Cr-2 Cr-0.81 Cr-5 Cr6 Cr0.38 Cr2 Cr1 Cr1 CrSign in free for the trailing twelve months
EPS (₹)₹5.25₹2.38₹-1.43₹-0.62₹-4.13₹4.48₹0.29₹1.56₹1.08₹0.84Sign in free for the trailing twelve months
Dividend payout %—————0.0%0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital13 Cr13 Cr13 Cr13 Cr13 Cr13 Cr13 Cr13 Cr13 Cr13 Cr
Reserves12 Cr15 Cr13 Cr12 Cr6 Cr12 Cr12 Cr15 Cr16 Cr17 Cr
Borrowings0.12 Cr0.54 Cr0.72 Cr0.20 Cr0.14 Cr0.48 Cr0.30 Cr0.13 Cr0.26 Cr—
Other liabilities6 Cr4 Cr1 Cr0.97 Cr0.98 Cr0.92 Cr1 Cr0.99 Cr3 Cr3 Cr
Total liabilities31 Cr32 Cr27 Cr26 Cr20 Cr27 Cr27 Cr29 Cr32 Cr33 Cr
Fixed assets (net)0.03 Cr0.03 Cr0.05 Cr0.03 Cr0.02 Cr0.07 Cr0.07 Cr0.03 Cr0.12 Cr0.14 Cr
CWIP——0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Investments8 Cr7 Cr11 Cr10 Cr11 Cr11 Cr11 Cr13 Cr12 Cr12 Cr
Loans & advances——0.25 Cr0.03 Cr0.01 Cr0.02 Cr0.02 Cr6 Cr6 Cr6 Cr
Trade receivables0.10 Cr0.13 Cr0.08 Cr0.11 Cr0.11 Cr0.07 Cr0.08 Cr0.18 Cr0.09 Cr0.09 Cr
Cash & bank0.18 Cr0.15 Cr0.12 Cr0.12 Cr0.07 Cr0.08 Cr0.07 Cr0.33 Cr0.08 Cr0.60 Cr
Other assets22 Cr25 Cr16 Cr16 Cr9 Cr15 Cr15 Cr9 Cr13 Cr14 Cr
Total assets31 Cr32 Cr27 Cr26 Cr20 Cr27 Cr27 Cr29 Cr32 Cr33 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity0.91 Cr-3 Cr-3 Cr-2 Cr-0.88 Cr-0.54 Cr6 Cr-6 Cr1 Cr2 Cr
Cash from investing0.03 Cr2 Cr2 Cr2 Cr0.91 Cr0.23 Cr-6 Cr6 Cr-1 Cr-0.83 Cr
Cash from financing-1 Cr0.42 Cr0.15 Cr-0.54 Cr-0.08 Cr0.31 Cr-0.20 Cr-0.18 Cr0.11 Cr-0.27 Cr
Net cash flow-0.25 Cr-0.03 Cr0.0043 Cr-0.0071 Cr-0.04 Cr0.0060 Cr-0.0055 Cr0.25 Cr-0.25 Cr0.52 Cr
Free cash flow (OCF − Capex)0.91 Cr-3 Cr-3 Cr-2 Cr-0.88 Cr-0.83 Cr6 Cr-6 Cr1 Cr2 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %29.5%15.9%-6.4%-2.5%5.6%23.4%2.3%8.8%10.3%4.8%
ROE %27.8%11.2%-7.3%-3.3%-27.8%23.1%1.5%7.4%4.8%3.6%
Debtor days16892140221529813
Inventory days——00000000
Days payable8391924382211610
Cash conversion cycle751215-16-71823
OCF / EBITDA %297.8%-75.9%————4966.7%-713.1%51.3%598.2%
OCF / EBITDA % (3 years)——-256.0%————-37.8%46.8%-104.9%
Debt / equity0.00500.020.030.00810.00720.020.010.00480.00910.00
Current ratio2.222.795.8217.3015.8014.5615.7224.794.966.27
Net debt / EBITDA-0.19—————1.74-0.230.09-2.24