Incap Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: August 1, 2025, 5:58 pm

Quick Insight

Incap Ltd, operating in the electronics equipment sector, currently trades at ₹75.0, reflecting a market capitalization of ₹38.5 crore. With a price-to-earnings (P/E) ratio of 48.1, the stock appears overvalued relative to its modest return on equity (ROE) of 4.95% and return on capital employed (ROCE) of 7.46%. The company's operating profit margin (OPM) stands at a low 5.47%, indicating potential inefficiencies. Despite robust promoter ownership at 67.59%, the absence of foreign and domestic institutional investors (FIIs and DIIs) raises concerns about liquidity and market confidence. With borrowings of ₹5.39 crore against reserves of ₹11.11 crore, the interest coverage ratio (ICR) of 4.13x suggests manageable debt levels. However, a cash conversion cycle (CCC) of 98.87 days indicates slower inventory turnover. Investors should approach Incap Ltd cautiously, as the high valuation metrics do not align with its operational performance, suggesting potential headwinds ahead.

Competitors of Incap Ltd

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Quarterly Result

Last Updated: May 31, 2025, 5:38 am

Below is a detailed analysis of the quarterly data for Incap Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

• For Sales, as of Mar 2025, the value is 4.94 Cr.. The value appears to be declining and may need further review. It has decreased from 16.89 Cr. (Dec 2024) to 4.94 Cr., marking a decrease of 11.95 Cr..
• For Expenses, as of Mar 2025, the value is 4.67 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 16.42 Cr. (Dec 2024) to 4.67 Cr., marking a decrease of 11.75 Cr..
• For Operating Profit, as of Mar 2025, the value is 0.27 Cr.. The value appears to be declining and may need further review. It has decreased from 0.47 Cr. (Dec 2024) to 0.27 Cr., marking a decrease of 0.20 Cr..
• For OPM %, as of Mar 2025, the value is 5.47%. The value appears strong and on an upward trend. It has increased from 2.78% (Dec 2024) to 5.47%, marking an increase of 2.69%.
• For Other Income, as of Mar 2025, the value is 0.19 Cr.. The value appears strong and on an upward trend. It has increased from 0.00 Cr. (Dec 2024) to 0.19 Cr., marking an increase of 0.19 Cr..
• For Interest, as of Mar 2025, the value is 0.18 Cr.. The value remains steady. There is no change compared to the previous period (Dec 2024) which recorded 0.18 Cr..
• For Depreciation, as of Mar 2025, the value is 0.11 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 0.09 Cr. (Dec 2024) to 0.11 Cr., marking an increase of 0.02 Cr..
• For Profit before tax, as of Mar 2025, the value is 0.17 Cr.. The value appears to be declining and may need further review. It has decreased from 0.20 Cr. (Dec 2024) to 0.17 Cr., marking a decrease of 0.03 Cr..
• For Tax %, as of Mar 2025, the value is 147.06%. The value appears to be increasing, which may not be favorable. It has increased from 0.00% (Dec 2024) to 147.06%, marking an increase of 147.06%.
• For Net Profit, as of Mar 2025, the value is -0.08 Cr.. The value appears to be declining and may need further review. It has decreased from 0.20 Cr. (Dec 2024) to -0.08 Cr., marking a decrease of 0.28 Cr..
• For EPS in Rs, as of Mar 2025, the value is -0.16. The value appears to be declining and may need further review. It has decreased from 0.39 (Dec 2024) to -0.16, marking a decrease of 0.55.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Profit & Loss - Annual Report

Last Updated: June 16, 2025, 12:48 pm

Growth

Last Updated: Unknown

Balance Sheet

Last Updated: July 25, 2025, 1:04 pm

Below is a detailed analysis of the balance sheet data for Incap Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

• For Equity Capital, as of Mar 2025, the value is 5.13 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 5.13 Cr..
• For Reserves, as of Mar 2025, the value is 11.11 Cr.. The value appears strong and on an upward trend. It has increased from 10.94 Cr. (Mar 2024) to 11.11 Cr., marking an increase of 0.17 Cr..
• For Borrowings, as of Mar 2025, the value is 5.39 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 2.75 Cr. (Mar 2024) to 5.39 Cr., marking an increase of 2.64 Cr..
• For Other Liabilities, as of Mar 2025, the value is 8.31 Cr.. The value appears to be improving (decreasing). It has decreased from 8.61 Cr. (Mar 2024) to 8.31 Cr., marking a decrease of 0.30 Cr..
• For Total Liabilities, as of Mar 2025, the value is 29.94 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 27.43 Cr. (Mar 2024) to 29.94 Cr., marking an increase of 2.51 Cr..
• For Fixed Assets, as of Mar 2025, the value is 7.33 Cr.. The value appears strong and on an upward trend. It has increased from 3.43 Cr. (Mar 2024) to 7.33 Cr., marking an increase of 3.90 Cr..
• For CWIP, as of Mar 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 0.00 Cr..
• For Investments, as of Mar 2025, the value is 2.57 Cr.. The value appears strong and on an upward trend. It has increased from 2.21 Cr. (Mar 2024) to 2.57 Cr., marking an increase of 0.36 Cr..
• For Other Assets, as of Mar 2025, the value is 20.04 Cr.. The value appears to be declining and may need further review. It has decreased from 21.79 Cr. (Mar 2024) to 20.04 Cr., marking a decrease of 1.75 Cr..
• For Total Assets, as of Mar 2025, the value is 29.94 Cr.. The value appears strong and on an upward trend. It has increased from 27.43 Cr. (Mar 2024) to 29.94 Cr., marking an increase of 2.51 Cr..

Notably, the Reserves (11.11 Cr.) exceed the Borrowings (5.39 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Cash Flow

Free Cash Flow

Financial Efficiency Indicators

Share Holding Pattern

Key Financial Ratios

After reviewing the key financial ratios for Incap Ltd, here is a detailed analysis based on the latest available data and recent trends:

• For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
• For Basic EPS (Rs.), as of Mar 25, the value is 1.56. This value is below the healthy minimum of 5. It has increased from 1.30 (Mar 24) to 1.56, marking an increase of 0.26.
• For Diluted EPS (Rs.), as of Mar 25, the value is 1.56. This value is below the healthy minimum of 5. It has increased from 1.30 (Mar 24) to 1.56, marking an increase of 0.26.
• For Cash EPS (Rs.), as of Mar 25, the value is 2.30. This value is below the healthy minimum of 3. It has increased from 2.05 (Mar 24) to 2.30, marking an increase of 0.25.
• For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 31.65. It has increased from 31.31 (Mar 24) to 31.65, marking an increase of 0.34.
• For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 31.65. It has increased from 31.31 (Mar 24) to 31.65, marking an increase of 0.34.
• For Dividend / Share (Rs.), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 1. It has decreased from 1.00 (Mar 24) to 0.00, marking a decrease of 1.00.
• For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 65.42. It has increased from 37.72 (Mar 24) to 65.42, marking an increase of 27.70.
• For PBDIT / Share (Rs.), as of Mar 25, the value is 3.67. This value is within the healthy range. It has increased from 2.88 (Mar 24) to 3.67, marking an increase of 0.79.
• For PBIT / Share (Rs.), as of Mar 25, the value is 2.93. This value is within the healthy range. It has increased from 2.13 (Mar 24) to 2.93, marking an increase of 0.80.
• For PBT / Share (Rs.), as of Mar 25, the value is 2.04. This value is within the healthy range. It has increased from 1.79 (Mar 24) to 2.04, marking an increase of 0.25.
• For Net Profit / Share (Rs.), as of Mar 25, the value is 1.56. This value is below the healthy minimum of 2. It has increased from 1.30 (Mar 24) to 1.56, marking an increase of 0.26.
• For PBDIT Margin (%), as of Mar 25, the value is 5.61. This value is below the healthy minimum of 10. It has decreased from 7.62 (Mar 24) to 5.61, marking a decrease of 2.01.
• For PBIT Margin (%), as of Mar 25, the value is 4.47. This value is below the healthy minimum of 10. It has decreased from 5.64 (Mar 24) to 4.47, marking a decrease of 1.17.
• For PBT Margin (%), as of Mar 25, the value is 3.11. This value is below the healthy minimum of 10. It has decreased from 4.75 (Mar 24) to 3.11, marking a decrease of 1.64.
• For Net Profit Margin (%), as of Mar 25, the value is 2.38. This value is below the healthy minimum of 5. It has decreased from 3.45 (Mar 24) to 2.38, marking a decrease of 1.07.
• For Return on Networth / Equity (%), as of Mar 25, the value is 4.92. This value is below the healthy minimum of 15. It has increased from 4.16 (Mar 24) to 4.92, marking an increase of 0.76.
• For Return on Capital Employeed (%), as of Mar 25, the value is 8.70. This value is below the healthy minimum of 10. It has increased from 6.54 (Mar 24) to 8.70, marking an increase of 2.16.
• For Return On Assets (%), as of Mar 25, the value is 2.67. This value is below the healthy minimum of 5. It has increased from 2.44 (Mar 24) to 2.67, marking an increase of 0.23.
• For Long Term Debt / Equity (X), as of Mar 25, the value is 0.04. This value is below the healthy minimum of 0.2. It has increased from 0.02 (Mar 24) to 0.04, marking an increase of 0.02.
• For Total Debt / Equity (X), as of Mar 25, the value is 0.33. This value is within the healthy range. It has increased from 0.17 (Mar 24) to 0.33, marking an increase of 0.16.
• For Asset Turnover Ratio (%), as of Mar 25, the value is 1.17. It has increased from 0.69 (Mar 24) to 1.17, marking an increase of 0.48.
• For Current Ratio (X), as of Mar 25, the value is 1.57. This value is within the healthy range. It has decreased from 2.02 (Mar 24) to 1.57, marking a decrease of 0.45.
• For Quick Ratio (X), as of Mar 25, the value is 1.39. This value is within the healthy range. It has decreased from 1.75 (Mar 24) to 1.39, marking a decrease of 0.36.
• For Inventory Turnover Ratio (X), as of Mar 25, the value is 5.91. This value is within the healthy range. It has increased from 4.44 (Mar 24) to 5.91, marking an increase of 1.47.
• For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 20. It has decreased from 76.65 (Mar 24) to 0.00, marking a decrease of 76.65.
• For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 20. It has decreased from 48.76 (Mar 24) to 0.00, marking a decrease of 48.76.
• For Earning Retention Ratio (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 40. It has decreased from 23.35 (Mar 24) to 0.00, marking a decrease of 23.35.
• For Cash Earning Retention Ratio (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 40. It has decreased from 51.24 (Mar 24) to 0.00, marking a decrease of 51.24.
• For Interest Coverage Ratio (X), as of Mar 25, the value is 4.13. This value is within the healthy range. It has decreased from 8.51 (Mar 24) to 4.13, marking a decrease of 4.38.
• For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 2.75. This value is below the healthy minimum of 3. It has decreased from 4.86 (Mar 24) to 2.75, marking a decrease of 2.11.
• For Enterprise Value (Cr.), as of Mar 25, the value is 52.31. It has increased from 28.11 (Mar 24) to 52.31, marking an increase of 24.20.
• For EV / Net Operating Revenue (X), as of Mar 25, the value is 1.56. This value is within the healthy range. It has increased from 1.45 (Mar 24) to 1.56, marking an increase of 0.11.
• For EV / EBITDA (X), as of Mar 25, the value is 27.76. This value exceeds the healthy maximum of 15. It has increased from 19.03 (Mar 24) to 27.76, marking an increase of 8.73.
• For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 1.49. This value is within the healthy range. It has decreased from 1.73 (Mar 24) to 1.49, marking a decrease of 0.24.
• For Retention Ratios (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 30. It has decreased from 23.34 (Mar 24) to 0.00, marking a decrease of 23.34.
• For Price / BV (X), as of Mar 25, the value is 3.08. This value exceeds the healthy maximum of 3. It has increased from 2.08 (Mar 24) to 3.08, marking an increase of 1.00.
• For Price / Net Operating Revenue (X), as of Mar 25, the value is 1.49. This value is within the healthy range. It has decreased from 1.73 (Mar 24) to 1.49, marking a decrease of 0.24.
• For EarningsYield, as of Mar 25, the value is 0.01. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 24) which recorded 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Fair Value

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Strength and Weakness