### **Overview** International Conveyors Limited (ICL) is **India’s only publicly listed company specializing in PVC fire-resistant, anti-static (FRAS) solid woven conveyor belting**, a critical consumable in the mining and bulk material handling industries. With over **45 years of operational experience since 1978**, the company has transitioned from a domestic-focused supplier primarily serving Coal India to a **global leader in conveyor belting**, serving demanding markets across North America, Australia, South Africa, Europe, and China. ICL is recognized for its **advanced technology, rigorous quality standards, and fully integrated manufacturing capabilities**. --- ### **Core Business & Products** - **Primary Product**: FRAS (Fire Resistant, Anti-Static) PVC Solid Woven Conveyor Belting. - **Product Range**: - **Types 3 to 18**, with **Type-18 belts up to 3150 kN/m tensile strength** – among the highest in the world. - **Widths from 600 mm to 1800 mm (30 to 72 inches)**, catering to diverse mining and industrial applications. - **Applications**: Underground and surface mining (coal, potash, phosphate), cement, crusher units, waste management, and bulk transportation. - **New Product Development (Sep 2025)**: - A **superior low-abrasive conveyor belt with thicker covers** is under development to compete with PVG (polyester-vinyl) belts. - Targeting **improved durability and efficiency**, especially in harsh mining environments. - **Regulatory approvals in progress**; market entry expected in **H2 of FY 2025–26**. --- ### **Manufacturing & Infrastructure** ICL operates **two state-of-the-art, fully integrated manufacturing plants** in India: | **Plant** | **Location** | **Annual Capacity** | **Key Features** | |---------|------------|-------------------|----------------| | **Aurangabad Plant** | Maharashtra | 700,000 meters | Two facilities: E39 (12,000 sq. mtrs, fully integrated with lab + admin) and H19 (1,527 sq. mtrs) | | **Falta SEZ Plant** | West Bengal | 425,000 meters | 6,000 sq. mtrs, fully integrated, lab, admin, under SEZ benefits | - **Total Installed Capacity**: **~1.1 million meters annually** (combined), enabling **flexibility and scalability**. - **Logistical Advantages**: - Aurangabad: Proximity to **Delhi-Mumbai Industrial Corridor (DMIC)**, Mumbai port (~350 km), Jalna dry port (~40 km), and strong road/rail/air connectivity. - Falta: Located **~50 km from Kolkata sea-port**, with **SEZ benefits** (duty and GST exemptions on raw materials and services). --- ### **Advanced Technology & In-House Capabilities** - **End-to-End Manufacturing**: From yarn preparation, weaving, compound mixing, to coating and curing – **fully integrated in-house**. - **Key Equipment & Technology**: - One of the **world’s largest beaming machines** (2400 mm beam width). - **Twisting and doubling machines** capable of processing **up to 20 tons of yarn**. - **Carcass-making machine** handling **22 tons of beamed yarn per load**. - **Six-storey vacuum impregnation tower**, gold-plated quartz infrared **heat-curing system**, and **electronically controlled coating plant**. - **Heavy-duty weaving looms** (up to 2100 mm reed space, 100 tons each). - **R&D & Testing**: - In-house **R&D team** with 40+ years of combined sector experience. - **Fully equipped test laboratory** ensuring compliance with international standards (ISO 9001:2015, BIS, MSHA, etc.). - Uses **Sidewinder software** for conveyor structure analysis to support customer-specific belting selection and design. --- ### **Market Position & Competitive Advantages** - **Global Market Leadership**: One of the **world’s largest manufacturers of solid woven conveyor belting**, offering the **widest product range** from a single source. - **Market Share**: - **35% domestic share** in PVC conveyor belting in India. - **~40% share** in India’s underground FRAS PVC belting segment. - **80% of India’s total PVC conveyor belting exports** – making ICL the **largest exporter** in this niche. - **High Entry Barriers**: - **Dual-stage approvals**: Regulatory clearance + customer-specific supplier validation. - **Long gestation period** (years), capital intensity, and technical expertise required. - Only a few global players in this specialized segment. - **Revenue Visibility**: - **70% of revenue from exports** (USA, Canada, Australia, South Africa). - Long-term contracts (**5–7 years**) with **price adjustment clauses** to hedge raw material volatility. - **Six-month order book visibility** due to strong demand and new product adoption. --- ### **Customers & Distribution Network** - **Key Clients**: - **Indian Coal Mines** (long-standing domestic contracts). - **World’s largest potash mining companies in Canada**. - **Moonee Colliery (Australia)** – benchmark underground mining project. - **Global Subsidiaries**: - **International Conveyors America Limited** (USA). - **International Conveyors Australia Limited** – established to strengthen regional presence. - **Distribution Partnership**: - **Sole Indian distributor for Mato Industries Ltd (UK)** since the 1990s – over **30 years of partnership**. - Supplies **belt lacing machines, fasteners, pins, and cutters**, with **substantial and growing sales** in this segment. --- ### **Management & Governance** - **Promoters & Leadership**: Experienced and stable leadership with deep domain expertise: - **Mr. R.K. Dabriwala** (MD): 50+ years in manufacturing, with international JVs (GE, Emerson, Fanuc). - **Mr. Prasad Deshpande** (President): Textile engineer, 30+ years in industrial fabrics, ex-SRF. - **Mr. Udit Sethia & Mr. Surbhit Dabriwala** (Directors): Strong finance and strategic oversight. - **Governance**: Listed entity with ISO 9001:2015 certification and adherence to global regulatory standards. --- ### **Financial & Operational Highlights (Recent)** - **Production FY 2024–25**: **304,359 meters** (on track for capacity utilization growth). - **FY2022–23**: 450,363 meters (indicating capacity ramp-up). - **Replacement Cycles**: - **Coal**: 1–2 years. - **Potash**: 4–5 years. - **Market Size (India)**: - Total conveyor belting market: ₹20,000 million. - **PVC belting segment**: ₹1,000 million – **niche but high-growth potential** due to increased automation in mining and bulk handling.