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Indo Count Industries Ltd

ICIL·NSE
476.55+6.16%Wed, 23 Sept '26 15:56

Indo Count Industries Ltd

ICIL
NSE
476.55
+6.16%
|Wed, 23 Sept '26 15:56
SOICxStockScans Reports
6M
Price
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Documents

Quick Ratios

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Mkt Cap
Market Capitalization
9,392Cr
Close
Close Price
474.20
Industry
Industry
Textiles - Home Textile
PE
Price To Earnings
62.23
PS
Price To Sales
2.14
Revenue
Revenue
4,390Cr
Rev Gr TTM
Revenue Growth TTM
5.30%
PAT Gr TTM
PAT Growth TTM
-28.57%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
1,0097131,0939411,0361,1521,0239591,0621,0631,0581,207
Growth YoY
Revenue Growth YoY%
18.88.535.527.02.761.4-6.51.82.5-7.73.425.9
Expenses
ExpensesCr
8446099287968791,0069338489589729711,064
Operating Profit
Operating ProfitCr
165104165145157146901111049186143
OPM
OPM%
16.314.615.115.415.112.78.811.69.88.68.211.9
Other Income
Other IncomeCr
2514099166919113017
Interest Expense
Interest ExpenseCr
181820213036363132304432
Depreciation
DepreciationCr
202222252532343839394345
PBT
PBTCr
1517912410811095265152343084
Tax
TaxCr
372132302924512139620
PAT
PATCr
1145892788071213939242463
Growth YoY
PAT Growth YoY%
70.554.0-2.95.5-29.621.9-77.1-49.9-51.4-65.515.062.0
NPM
NPM%
11.38.18.48.37.86.22.14.13.72.32.35.2
EPS
EPS
5.82.94.63.94.13.61.12.02.01.21.23.2
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
1,0097131,0939411,0361,1521,0239591,0621,0631,0581,207
Growth YoY
Revenue Growth YoY%
18.88.535.527.02.761.4-6.51.82.5-7.73.425.9
Expenses
ExpensesCr
8446099287968791,0069338489589729711,064
Operating Profit
Operating ProfitCr
165104165145157146901111049186143
OPM
OPM%
16.314.615.115.415.112.78.811.69.88.68.211.9
Other Income
Other IncomeCr
2514099166919113017
Interest Expense
Interest ExpenseCr
181820213036363132304432
Depreciation
DepreciationCr
202222252532343839394345
PBT
PBTCr
1517912410811095265152343084
Tax
TaxCr
372132302924512139620
PAT
PATCr
1145892788071213939242463
Growth YoY
PAT Growth YoY%
70.554.0-2.95.5-29.621.9-77.1-49.9-51.4-65.515.062.0
NPM
NPM%
11.38.18.48.37.86.22.14.13.72.32.35.2
EPS
EPS
5.82.94.63.94.13.61.12.02.01.21.23.2

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
2,0632,1531,8591,9342,0802,5192,8423,0123,5574,1514,1414,390
Growth
Revenue Growth%
20.14.4-13.74.17.521.112.86.018.116.7-0.25.3
Expenses
ExpensesCr
1,6461,8291,6961,7781,8972,1432,4082,5572,9983,6143,7493,965
Operating Profit
Operating ProfitCr
417323163156183377434454559537392424
OPM
OPM%
20.215.08.78.18.814.915.315.115.712.99.59.7
Other Income
Other IncomeCr
4810510010-44341403144407078
Interest Expense
Interest ExpenseCr
554235363928476270123136137
Depreciation
DepreciationCr
303333354343416583116159167
PBT
PBTCr
3793531949557340486359450338166199
Tax
TaxCr
1281216936-169112782112884048
PAT
PATCr
2512321256073249359277338250127151
Growth
PAT Growth%
72.3-7.7-46.0-52.222.2240.844.0-22.822.1-26.0-49.3-28.6
NPM
NPM%
12.210.86.73.13.59.912.69.29.56.03.13.4
EPS
EPS
2.511.86.43.03.712.718.114.017.112.66.47.6
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
2,0632,1531,8591,9342,0802,5192,8423,0123,5574,1514,1414,390
Growth
Revenue Growth%
20.14.4-13.74.17.521.112.86.018.116.7-0.25.3
Expenses
ExpensesCr
1,6461,8291,6961,7781,8972,1432,4082,5572,9983,6143,7493,965
Operating Profit
Operating ProfitCr
417323163156183377434454559537392424
OPM
OPM%
20.215.08.78.18.814.915.315.115.712.99.59.7
Other Income
Other IncomeCr
4810510010-44341403144407078
Interest Expense
Interest ExpenseCr
554235363928476270123136137
Depreciation
DepreciationCr
303333354343416583116159167
PBT
PBTCr
3793531949557340486359450338166199
Tax
TaxCr
1281216936-169112782112884048
PAT
PATCr
2512321256073249359277338250127151
Growth
PAT Growth%
72.3-7.7-46.0-52.222.2240.844.0-22.822.1-26.0-49.3-28.6
NPM
NPM%
12.210.86.73.13.59.912.69.29.56.03.13.4
EPS
EPS
2.511.86.43.03.712.718.114.017.112.66.47.6

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
3939393939393940404040
Reserves
ReservesCr
5918079179359471,2451,5511,7532,0492,2422,316
Current Liabilities
Current LiabilitiesCr
6075285634625898951,4989461,1801,3131,396
Non Current Liabilities
Non Current LiabilitiesCr
146141173180114111173309299660741
Total Liabilities
Total LiabilitiesCr
1,3921,5241,6991,6251,6962,2963,2623,0483,5694,2554,492
Current Assets
Current AssetsCr
8869751,1281,0241,1051,7152,2421,7022,1402,2192,390
Non Current Assets
Non Current AssetsCr
5065495716005915811,0201,3461,4292,0362,102
Total Assets
Total AssetsCr
1,3921,5241,6991,6251,6962,2963,2623,0483,5694,2554,492
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
3939393939393940404040
Reserves
ReservesCr
5918079179359471,2451,5511,7532,0492,2422,316
Current Liabilities
Current LiabilitiesCr
6075285634625898951,4989461,1801,3131,396
Non Current Liabilities
Non Current LiabilitiesCr
146141173180114111173309299660741
Total Liabilities
Total LiabilitiesCr
1,3921,5241,6991,6251,6962,2963,2623,0483,5694,2554,492
Current Assets
Current AssetsCr
8869751,1281,0241,1051,7152,2421,7022,1402,2192,390
Non Current Assets
Non Current AssetsCr
5065495716005915811,0201,3461,4292,0362,102
Total Assets
Total AssetsCr
1,3921,5241,6991,6251,6962,2963,2623,0483,5694,2554,492

Cash Flow

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
15321642215140-20-37755146394573
Investing Cash Flow
Investing Cash FlowCr
-113-78-52-10116-189-258-474-98-485-217
Financing Cash Flow
Financing Cash FlowCr
-61-14817-106-40185646-574-47105-349
Net Cash Flow
Net Cash FlowCr
-21-1078116-23352-2931147
Free Cash Flow
Free Cash FlowCr
15321642215140-20-3741611143372
CFO To PAT
CFO To PAT%
60.893.033.8358.5191.2-7.9-10.3272.843.1157.7452.2
CFO To EBITDA
CFO To EBITDA%
36.766.826.0137.776.3-5.2-8.6166.226.173.4146.2
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
15321642215140-20-37755146394573
Investing Cash Flow
Investing Cash FlowCr
-113-78-52-10116-189-258-474-98-485-217
Financing Cash Flow
Financing Cash FlowCr
-61-14817-106-40185646-574-47105-349
Net Cash Flow
Net Cash FlowCr
-21-1078116-23352-2931147
Free Cash Flow
Free Cash FlowCr
15321642215140-20-3741611143372
CFO To PAT
CFO To PAT%
60.893.033.8358.5191.2-7.9-10.3272.843.1157.7452.2
CFO To EBITDA
CFO To EBITDA%
36.766.826.0137.776.3-5.2-8.6166.226.173.4146.2

Ratios

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
3,8233,8861,6759574712,6083,1432,2166,9935,0344,9479,392
Price To Earnings
Price To Earnings
15.316.913.315.96.410.48.88.020.720.139.062.2
Price To Sales
Price To Sales
1.91.80.90.50.21.01.10.72.01.21.22.1
Price To Book
Price To Book
6.14.61.81.00.52.02.01.23.42.22.14.0
EV To EBITDA
EV To EBITDA
10.112.912.48.03.58.39.46.614.011.815.723.2
Profitability Ratios
Profitability Ratios
GPM
GPM%
32.627.722.224.024.027.732.835.235.434.936.436.4
OPM
OPM%
20.215.08.78.18.814.915.315.115.712.99.59.7
NPM
NPM%
12.210.86.73.13.59.912.69.29.56.03.13.4
ROCE
ROCE%
42.434.417.310.27.319.818.315.817.112.48.28.2
ROE
ROE%
39.927.413.16.17.419.422.515.416.211.05.45.4
ROA
ROA%
18.115.27.43.74.310.811.09.19.55.92.82.8
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
3,8233,8861,6759574712,6083,1432,2166,9935,0344,9479,392
Price To Earnings
Price To Earnings
15.316.913.315.96.410.48.88.020.720.139.062.2
Price To Sales
Price To Sales
1.91.80.90.50.21.01.10.72.01.21.22.1
Price To Book
Price To Book
6.14.61.81.00.52.02.01.23.42.22.14.0
EV To EBITDA
EV To EBITDA
10.112.912.48.03.58.39.46.614.011.815.723.2
Profitability Ratios
Profitability Ratios
GPM
GPM%
32.627.722.224.024.027.732.835.235.434.936.436.4
OPM
OPM%
20.215.08.78.18.814.915.315.115.712.99.59.7
NPM
NPM%
12.210.86.73.13.59.912.69.29.56.03.13.4
ROCE
ROCE%
42.434.417.310.27.319.818.315.817.112.48.28.2
ROE
ROE%
39.927.413.16.17.419.422.515.416.211.05.45.4
ROA
ROA%
18.115.27.43.74.310.811.09.19.55.92.82.8
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
- **lead** - Indo Count Industries began in 1988 as a cotton-yarn spinner, but its defining move was a forward leap into making finished bed linen in 2005, a pivot that ultimately made it the world’s largest manufacturer of bed sheets. A second leap came in 2022 with the acquisition of a rival’s home textiles business, which doubled its scale overnight and set the stage for a transformation the company calls “Indo Count 2.0” - a deliberate shift from being a single-product exporter to a multi-business, branded home-fashions company with factories on two continents. The recurring approach is vertical integration with a twist: own the entire chain from cotton field to cut-and-sew, then bolt on American manufacturing and heritage brands to get closer to the end consumer and escape the commodity trap. # Business segments Two engines at different stages - a global bed-linen cash cow built on integrated Indian manufacturing, and a younger American platform that adds local production and owned brands to the mix. ## 1. Bed linen: the integrated export engine that built the company **A fully in-house manufacturing chain - from spinning the yarn to sewing the sheet - supplies big-box retailers in over 50 countries, with India’s cotton advantage and deep customer ties forming the moat.** - **Spinning its own yarn** - the company runs a modern fleet of roughly 68,000 spindles with compact spinning technology, which lets it produce the specialised, value-added yarns that premium bed sheets require rather than buying commodity yarn on the open market. A brownfield expansion approved in 2026 will increase the existing installed capacity from 70,000 spindles to 94,000 spindles, deepening that self-sufficiency. - **Two giant factories, one integrated process** - the Kolhapur plant (108 million meters capacity) and the Bhilad plant in Gujarat (45 million meters) together give the company an annual capacity of about 153 million meters, making it the largest bed-linen manufacturer globally. The Bhilad facility, acquired in 2022, added twin-state geographic diversity and brought new products like flannel into the basket without overlapping customers. - **Cotton where it grows best** - roughly 70% of raw cotton is sourced domestically, tapping India’s natural cost advantage, while the remaining 30% is imported long-staple Egyptian and American cotton for premium products. The company hedges both cotton and currency to protect itself from price swings, a discipline that matters when raw material is the biggest input cost. - **Designed for the retailer’s shelf, not just the container** - the company offers end-to-end services that go far beyond manufacturing: product development, market research, inventory planning, e-commerce fulfilment, and even consumer insights, which turns a supplier relationship into a sticky partnership with large global retailers. It has won the Gold Trophy for highest exports of bed sheets from TEXPROCIL for six consecutive years, signalling consistent leadership. - **A sustainability edge that buyers now demand** - with an S&P Global ESG score of 78, well above the textile industry average of 35, the company sits in the top 3 percentile globally, a credential that matters to Western retailers under pressure to green their supply chains. It runs 21.5 MW of renewable energy capacity, has cut freshwater intake by 25% through recycling, and supports over 30,000 farmers through sustainable cotton programmes covering more than 127,000 acres. ## 2. American utility bedding and brands: the local-for-local growth platform **Manufacturing pillows and comforters inside the United States, then selling them under owned and licensed brands including a relaunched 180-year-old heritage name, turns the company from a distant exporter into a domestic supplier with tariff insulation and consumer pull.** - **Made in America, for America** - three US factories (in Ohio, Arizona, and North Carolina) give the company an annual capacity of 31 million pillows and 1.5 million quilts, with the greenfield North Carolina plant alone adding 18 million pillows of capacity when it started production in January 2026. Because the facilities are located to serve the Midwest, West Coast, and East Coast, they sit close to customers and can import raw materials from multiple countries, limiting exposure to tariffs on finished goods. - **Bought, not just built** - the Ohio and Arizona plants were acquired in late 2024 for a combined outlay of roughly USD 31 million, giving the company immediate production capacity and an existing workforce rather than starting from scratch. The North Carolina facility was then added as a greenfield project, more than doubling total capacity. - **A heritage brand as the storefront** - the company bought the global trademark rights to Wamsutta, an American bedding and bath brand established in 1846, for USD 10.25 million and relaunched it in July 2025 as a direct-to-consumer digital brand. Owning the brand means capturing the margin that would otherwise go to a retailer’s private label, and the brand’s 180-year history gives it instant recognition that a new label would take decades to build. - **Licensed names fill the shelf** - a portfolio of six licensed brands, including Tommy Hilfiger, Fieldcrest, and Beautyrest, lets the company offer retailers a ready-made brand story without having to build every label from the ground up. Retailers are receptive because a meaningful brand with consumer traction helps differentiate their floor space from competitors. - **From sheets to the whole bed** - the product range now spans pillows, mattress pads, protectors, comforters, curtains, towels, and bath rugs, moving the company from a bed-sheet specialist into a complete home-textiles solutions provider. This broader basket deepens the wallet share with existing retail customers and opens doors to new ones. # Group structure and partners **A network of wholly owned international subsidiaries puts design studios, warehouses, and manufacturing assets close to the company’s main markets in North America, Europe, and the Middle East.** - **US subsidiary as the anchor** - Indo Count Global, Inc., incorporated in 2011, houses the New York design studio, the Charlotte distribution centre, and all three American manufacturing plants through its own step-down subsidiaries. It also holds the Wamsutta trademark and runs the China sourcing office in Shanghai, set up in mid-2025 to procure materials. - **UK and UAE outposts** - Indo Count UK Ltd. operates a showroom and design studio in Manchester, while Indo Count Global DMCC covers the Dubai market, giving the company a physical presence to serve European and Middle Eastern buyers. - **Brand partners, not just factories** - the licensed-brand roster is managed through agreements with partners like Iconix (for Fieldcrest and Waverly), Serta Simmons Bedding (Beautyrest), and Tommy Hilfiger, layering recognised names onto the company’s manufacturing base. - **India retail through its own brands** - the domestic market is served by two owned brands, Boutique Living (premium) and Layers (value), available at nearly 2,000 touchpoints and on major e-commerce platforms, though this remains a small part of the overall business.

Documents — Indo Count Industries Ltd

  • Q1 FY2027 Earnings Call Transcript (Jun 2026, PDF): https://www.stockscans.in/document/s1km8ai2y8xrbaio5vl1u1nr.pdf
  • Q4 FY2026 Earnings Call Transcript (Mar 2026, PDF): https://www.stockscans.in/document/cko7op06o6a73fv56gzase9r.pdf
  • Q3 FY2026 Earnings Call Transcript (Dec 2025, PDF): https://www.stockscans.in/document/hosbdzsj3bb3ra7m1pn7aciv.pdf
  • Q2 FY2026 Earnings Call Transcript (Sep 2025, PDF): https://www.stockscans.in/document/lc4mea6ia7x33ad94bq646o6.pdf
  • Q1 FY2026 Earnings Call Transcript (Jun 2025, PDF): https://www.stockscans.in/document/n6hr3wnsweyux3pknr8ad0dd.pdf
  • Q4 FY2025 Earnings Call Transcript (Mar 2025, PDF): https://www.stockscans.in/document/yhgc1g7q0lj2y48regk6c9ep.pdf
  • Q3 FY2025 Earnings Call Transcript (Dec 2024, PDF): https://www.stockscans.in/document/x0fty1vm7abcnds8vttti0eo.pdf
  • Q2 FY2025 Earnings Call Transcript (Sep 2024, PDF): https://www.stockscans.in/document/ww3ec9yy6213rbeb06huyo8v.pdf
  • Q1 FY2027 Quarterly Result (Jun 2026, PDF): https://www.stockscans.in/document/xtw96m9amnbodtr59xyj65tr.pdf
  • Q4 FY2026 Quarterly Result (Mar 2026, PDF): https://www.stockscans.in/document/kx9u44n74otr7ezixgrb4jfq.pdf
  • Q3 FY2026 Quarterly Result (Dec 2025, PDF): https://www.stockscans.in/document/98hxwpb03osn0zffszfu9xdu.pdf
  • Q2 FY2026 Quarterly Result (Sep 2025, PDF): https://www.stockscans.in/document/v43erv4szavsxjrr4pjd831q.pdf
  • Q1 FY2026 Quarterly Result (Jun 2025, PDF): https://www.stockscans.in/document/1wjk4bv42zcokx00tzn9pwb6.pdf
  • Q4 FY2025 Quarterly Result (Mar 2025, PDF): https://www.stockscans.in/document/8lq6oplf11zfnmky18wzt7f5.pdf
  • Q2 FY2025 Quarterly Result (Sep 2024, PDF): https://www.stockscans.in/document/g6fwrau5ks3nembcnpwvflnd.pdf
  • Q1 FY2025 Quarterly Result (Jun 2024, PDF): https://www.stockscans.in/document/vgibb9vvudkqfdmmjmtfp094.pdf
  • Q1 FY2027 Investor Presentation (Jun 2026, PDF): https://www.stockscans.in/document/kdnvb2s8z6i2u6l3x6y0fe7s.pdf
  • Q4 FY2026 Investor Presentation (Mar 2026, PDF): https://www.stockscans.in/document/8oesn1u7a4c3xkbxyyfdmfbg.pdf
  • Q3 FY2026 Investor Presentation (Dec 2025, PDF): https://www.stockscans.in/document/qkmmn4v9m8v3kvrls5ojztct.pdf
  • Q2 FY2026 Investor Presentation (Sep 2025, PDF): https://www.stockscans.in/document/5hn470yayaf7wowa4vr3qsaq.pdf
  • Q1 FY2026 Investor Presentation (Jun 2025, PDF): https://www.stockscans.in/document/16hv37q8y6k30yf6x9lnmf83.pdf
  • Q4 FY2025 Investor Presentation (Mar 2025, PDF): https://www.stockscans.in/document/lyeq5ife539dqpk6swsuqmfh.pdf
  • Q3 FY2025 Investor Presentation (Dec 2024, PDF): https://www.stockscans.in/document/zm9yzcu46xxmtetohxnocztl.pdf
  • Q2 FY2025 Investor Presentation (Sep 2024, PDF): https://www.stockscans.in/document/pubo30xy9gkj93bwn9ocjatn.pdf
  • FY2026 Annual Report (PDF): https://www.stockscans.in/document/09gcse9f220mu90hlrq07lun.pdf
  • FY2025 Annual Report (PDF): https://www.stockscans.in/document/jpul1q8qzhiovqpuodir780x.pdf
  • FY2024 Annual Report (PDF): https://www.stockscans.in/document/nw0mbm9euqmxjfa0jow11xm8.pdf
  • FY2023 Annual Report (PDF): https://www.stockscans.in/document/yjk34ub43xt2eh5trgbdnxo1.pdf
  • FY2022 Annual Report (PDF): https://www.stockscans.in/document/hir4u1ht9v6va46zovgg2ygv.pdf
  • FY2021 Annual Report (PDF): https://www.stockscans.in/document/a0dzgc236pnvfgi7of539dfp.pdf
  • FY2020 Annual Report (PDF): https://www.stockscans.in/document/ruihku3i21gmplpmp9somg3b.pdf

Concall Transcript Summaries — Indo Count Industries Ltd

  • Q1 FY2027 Concall Transcript Summary (Jun 2026): https://www.stockscans.in/company/NSE%3AICIL/transcript-notes/202606/s1km8ai2y8xrbaio5vl1u1nr.pdf
  • Q4 FY2026 Concall Transcript Summary (Mar 2026): https://www.stockscans.in/company/NSE%3AICIL/transcript-notes/202603/cko7op06o6a73fv56gzase9r.pdf
  • Q3 FY2026 Concall Transcript Summary (Dec 2025): https://www.stockscans.in/company/NSE%3AICIL/transcript-notes/202512/hosbdzsj3bb3ra7m1pn7aciv.pdf
  • Q2 FY2026 Concall Transcript Summary (Sep 2025): https://www.stockscans.in/company/NSE%3AICIL/transcript-notes/202509/lc4mea6ia7x33ad94bq646o6.pdf
  • Q1 FY2026 Concall Transcript Summary (Jun 2025): https://www.stockscans.in/company/NSE%3AICIL/transcript-notes/202506/n6hr3wnsweyux3pknr8ad0dd.pdf
  • Q4 FY2025 Concall Transcript Summary (Mar 2025): https://www.stockscans.in/company/NSE%3AICIL/transcript-notes/202503/yhgc1g7q0lj2y48regk6c9ep.pdf
  • Q3 FY2025 Concall Transcript Summary (Dec 2024): https://www.stockscans.in/company/NSE%3AICIL/transcript-notes/202412/x0fty1vm7abcnds8vttti0eo.pdf
  • Q2 FY2025 Concall Transcript Summary (Sep 2024): https://www.stockscans.in/company/NSE%3AICIL/transcript-notes/202409/ww3ec9yy6213rbeb06huyo8v.pdf