ICDSLTDServices

ICDS Limited

Diversified Commercial Services · ISIN INE613B01010 · BSE 511194 · NSE BE · FV ₹10
Last price
₹59
-2.86%today
What this company does

ICDS Limited operates in Diversified Commercial Services, part of the Services sector. It booked ₹61.4 L of revenue in its latest quarter (Q1 FY27) and kept 152.1% of sales as profit.

In the report:
73out of 100
Equitytale Health Score
Solid

Healthier than 73% of companies in Services, on all six measures of filed financials. Each measure is ranked against the 50–116 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
59

At close. Not part of the score.

Profitability & returns68

How much profit it earns on the money it employs

Balance sheet96

How much it owes, and whether earnings cover the interest

Cash quality62

Whether reported profit actually arrives as cash

Growth & consistency69

Whether sales and profit have grown, and how steadily

Valuation47

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 152% net margin
Promoters hold 51%
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
! Sales down 20% vs last year
! Profit down 32% vs last year

What if I invest in ICDSLTD?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹59 -2.86%
latest close · 2026-09-17
1-year return
-24.4%
52-wk low ₹3352-wk high ₹161
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio20.4Average
LowAverageHigh
P/B ratio2.56Moderate
Below bookModerateHigh
EV / EBITDA16.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity12.5%Fair
WeakFairStrong ▸15%
Return on capital13.5%Fair
WeakFairStrong
Net margin152.1%Strong
ThinDecentStrong
EBITDA margin183.0%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover67.3×Strong
RiskyOkayStrong ▸5×
Current ratio6.27Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹77 cr
Book value
₹23
EPS
₹0.72
latest quarter
Net debt
₹-60.4 L
more cash than debt
Enterprise value
₹76 cr
EBITDA
₹4 cr
annualised
EBIT
₹4 cr
annualised
Operating margin
167.6%
Return on assets
11.3%
Earnings yield
4.90%
P/S
31.17
Sales / share
₹1.9
Tax rate
7.9%
Face value
₹10
Shares
1.3 cr
Working capital
₹13 cr
Current assets
₹15 cr
Current liabilities
₹2 cr
Delivery %
65.2%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹6₹6, midpoint ₹6

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹61.4 L
Other Income₹1 cr
Total Income₹2 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹12.2 L
Finance Costs₹1.5 L
Depreciation & Amortisation₹9.5 L
Other Expenses₹48.4 L
Total Expenses₹71.6 L
Profit before Tax₹1 cr
Tax Expense₹8 L
Net Profit₹93.4 L
Net margin on total income54.0%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹12.2 L7.0%
Finance costs₹1.5 L0.9%
Depreciation & amortisation₹9.5 L5.5%
Other expenses₹48.4 L28.0%
Tax expense₹8 L4.6%
Profit for the period₹93.4 L54.0%
Total income ₹2 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue57.3 L51.9 L61.4 L
Total income95.6 L57.5 L2 cr
Expenses43.1 L1 cr71.6 L
Profit before tax52.5 L-49.8 L1 cr
Tax7 L-7.6 L8 L
Net profit (owners' share)45.5 L-42.2 L93.4 L
Net margin (owners' share, on revenue)79.4%-81.4%152.1%
EPS (₹)0.35-0.320.72
YoY (latest quarter): total income -15.4% · net profit -32.1%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹33 cr
Shareholder equity
₹30 cr
parent shareholders
Total debt
₹0 cr
Cash
₹60.4 L
Cash flow · H1 FY26
Operating
₹63.6 L
Investing
₹-39.8 L
Financing
₹-17.8 L
Peer comparison
Diversified Commercial Services · by market value
CompanyPriceMarket capP/E
International Gemological Institute Limited₹315₹13,591 cr20.5
WeWork India Management Limited₹683₹9,464 cr
Nesco Limited₹1,082₹7,619 cr19.1
Inox Green Energy Services Limited₹175₹7,012 cr43.2
Indiabulls Limited₹30₹6,637 cr11.6
Bluspring Enterprises Limited₹124₹6,520 cr
Smartworks Coworking Spaces Limited₹520₹5,941 cr113.0
LEAP India Limited₹136₹5,619 cr56.8
Quess Corp Limited₹353₹5,272 cr16.0
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
No pledge
Promoter
51.4%
FII / Foreign
DII / Domestic
4.9%
Retail / others
43.7%
Smart-money activity
Bulk / block deals
SoldORION STOCKS LTD · NSE96,339 @ ₹50.8219 Sep 25
BoughtORION STOCKS LTD · NSE49,419 @ ₹50.1119 Sep 25
BoughtIRAGE BROKING SERVICES LLP · NSE80,193 @ ₹50.8619 Sep 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 25 Sep 2025
See the official result
1
To receive, consider and adopt the Audited Financial Statements of the Company (including Consolidated financial statements) for the financial year ended March 31, 2025 together with the reports of the Board of Directors and Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
15.50 L votes for, 51 against
2
To appoint a Director in place of Sri Tonse Sachin Pai [DIN 00795780] who retires by rotation and being eligible, offers himself for reappointment.
Backed by 100% of shareholders other than promotersneeded 50%
15.50 L votes for, 51 against
3
Approve Material Related Party Transaction(s) between the Company and Manipal Properties Limited, a subsidiary
Backed by 100% of shareholders other than promotersneeded 50%
15.50 L votes for, 51 against
4
To consider and approve appointment of Cs. Shrinivas M Devadiga (Membership No.22381) as Secretarial Auditor of the Company.
Backed by 100% of shareholders other than promotersneeded 50%
15.50 L votes for, 51 against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 62 named members
owning 51.4% between them · as of 2026-06-30
TEACHING FRATERNITY AND EDUCATION TRUST16.15%
MUSIC AND FINE ARTS EDUCATION TRUST11.34%
SHARATH INVESTMENTS PRIVATE LIMITED3.88%
T SATISH U PAI3.24%
MANIPAL TECHNOLOGIES LIMITED2.92%
DR RAMDAS M PAI1.42%
T. ASHOK PAI1.37%
MANIPAL FINANCE CORPORATION LTD1.27%
Business done with them
FY2025 · 1 of the group
The company paid ₹0.06 L to companies in the promoter group last year — about 0.0% of its ₹4 cr revenue.
TONSE SACHIN PAI
Other payments to them · Sitting fees paid
also owns 0.20% of the company
₹0.06 L
company paid

The company also transacted with 7 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.