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Incredible Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹29.04Overvalued by 15.34%vs CMP ₹34.30

P/E (13.9) × ROE (7.6%) × BV (₹33.60) × DY (2.00%)

₹39.06Undervalued by 13.88%vs CMP ₹34.30
MoS: +12.2% (Thin)Confidence: 43/100 (Low)Models: 4 Under, 2 Fair, 3 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹37.5623%Fair (+9.5%)
Graham NumberEarnings₹45.6017%Under (+32.9%)
Earnings PowerEarnings₹4.8911%Over (-85.7%)
DCFCash Flow₹60.7111%Under (+77%)
Net Asset ValueAssets₹33.457%Fair (-2.5%)
EV/EBITDAEnterprise₹48.159%Under (+40.4%)
Earnings YieldEarnings₹27.507%Over (-19.8%)
ROCE CapitalReturns₹22.727%Over (-33.8%)
Revenue MultipleRevenue₹80.216%Under (+133.8%)
Consensus (9 models)₹39.06100%Undervalued
Key Drivers: EPS CAGR 29.3% lifts DCF — verify sustainability. | Wide model spread (₹5–₹80) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 29.3%

*Investments are subject to market risks

Analyst Summary

Incredible Industries Ltd operates in the Steel segment, NSE: INCREDIBLE | BSE: 538365, current market price is ₹34.30, market cap is 161 Cr.. At a glance, stock P/E is 13.9, ROE is 7.62 %, ROCE is 10.6 %, book value is 33.6, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹39.06, which is about 13.9% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹753 Cr versus the prior period change of -7.7%, while latest net profit is about ₹12 Cr with a prior-period change of 100.0%. The 52-week range shown on this page is 53.4/26.0, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisIncredible Industries Ltd. is a Public Limited Listed company incorporated on 23/08/1979 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN…

This summary is generated from the stock page data available for Incredible Industries Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

64
Incredible Industries Ltd scores 64/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health61/100 · Moderate
ROCE 10.6% AverageROE 7.6% AverageD/E 0.33 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 75.0% Stable
Earnings Quality60/100 · Moderate
OPM stable around 3% SteadyWorking capital: 39 days (improving) Efficient
Quarterly Momentum80/100 · Strong
Revenue (4Q): +14% YoY GrowingProfit (4Q): +31% YoY Strong
Industry Rank65/100 · Strong
P/E 13.9 vs industry 20.5 Cheaper than peersROCE 10.6% vs industry 11.3% Average3Y sales CAGR: 12% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: June 12, 2026, 8:49 am

Market Cap 161 Cr.
Current Price 34.3
Intrinsic Value₹39.06
High / Low 53.4/26.0
Stock P/E13.9
Book Value 33.6
Dividend Yield0.00 %
ROCE10.6 %
ROE7.62 %
Face Value 10.0
PEG Ratio0.47

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Incredible Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Incredible Industries Ltd 161 Cr. 34.3 53.4/26.013.9 33.60.00 %10.6 %7.62 % 10.0
Aerpace Industries Ltd 390 Cr. 25.4 32.5/16.7 2.770.00 %15.1 %25.8 % 1.00
Manaksia Steels Ltd 434 Cr. 66.2 87.1/44.210.9 49.70.00 %14.4 %13.0 % 1.00
Visa Steel Ltd 619 Cr. 42.5 73.7/27.0 1060.00 %5.46 %% 10.0
Beekay Steel Industries Ltd 761 Cr. 399 550/32019.9 5520.25 %5.67 %3.70 % 10.0
Industry Average51,955.46 Cr339.2120.52170.650.39%11.31%11.30%7.50

All Competitor Stocks of Incredible Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 183.56208.89228.18208.96158.66222.35182.89181.17161.87230.22219.76212.13188.98
Expenses 178.81202.16224.09205.73154.28214.70177.83178.08158.14220.78213.23208.30184.80
Operating Profit 4.756.734.093.234.387.655.063.093.739.446.533.834.18
OPM % 2.59%3.22%1.79%1.55%2.76%3.44%2.77%1.71%2.30%4.10%2.97%1.81%2.21%
Other Income 0.130.101.280.260.550.100.110.100.480.070.070.300.71
Interest 1.281.311.581.661.501.171.110.820.740.810.410.700.55
Depreciation 1.401.441.411.421.421.411.341.341.341.331.241.241.19
Profit before tax 2.204.082.380.412.015.172.721.032.137.374.952.193.15
Tax % 35.45%28.43%44.12%-29.27%51.24%39.46%40.07%-95.15%-42.25%20.76%24.85%31.96%43.17%
Net Profit 1.422.921.330.530.983.121.622.003.035.843.721.491.79
EPS in Rs 0.300.620.280.110.210.670.350.430.651.250.800.320.38

Last Updated: March 3, 2026, 9:04 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 11:34 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 441411410372478666496484531736816753851
Expenses 406373383349453649484469515718797732827
Operating Profit 35392723251712151718192124
OPM % 8%9%7%6%5%3%2%3%3%2%2%3%3%
Other Income 1111110000211
Interest 262019171595465642
Depreciation 4334446666655
Profit before tax 61653751567101318
Tax % 28%32%54%34%30%28%23%34%40%31%40%6%
Net Profit 4112254144561213
EPS in Rs 0.932.300.490.491.040.810.220.780.761.051.282.672.75
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)175.00%-81.82%0.00%150.00%-20.00%-75.00%300.00%0.00%25.00%20.00%100.00%
Change in YoY Net Profit Growth (%)0.00%-256.82%81.82%150.00%-170.00%-55.00%375.00%-300.00%25.00%-5.00%80.00%

Incredible Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:9%
3 Years:12%
TTM:3%
Compounded Profit Growth
10 Years:1%
5 Years:65%
3 Years:52%
TTM:133%
Stock Price CAGR
10 Years:-12%
5 Years:16%
3 Years:20%
1 Year:-11%
Return on Equity
10 Years:4%
5 Years:5%
3 Years:6%
Last Year:9%

Last Updated: September 5, 2025, 3:46 pm

Balance Sheet

Last Updated: June 8, 2026, 5:01 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 474747474747474747474747
Reserves 5456586367687175808698110
Borrowings 1057290723423414849432334
Other Liabilities 9396811035529343233342630
Total Liabilities 299270276285203166193202209210194221
Fixed Assets 555754504747424643383226
CWIP 2-0-0-0-00-0-0051135
Investments 00000-0-0-0-0-0-0-0
Other Assets 242213222235156119151155166167150160
Total Assets 299270276285203166193202209210194221

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 2753-2344225-132010243710
Cash from Investing Activity + -1-3-015-6-1-11-3-4-4-36
Cash from Financing Activity + -29-513-33-47-2114-9-7-13-229
Net Cash Flow -3-0-02-0-30-01711-18
Free Cash Flow 2549-3344219-141081831-13
CFO/OP 78%217%-5%134%244%216%-77%137%73%143%193%61%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow35.00-66.00-45.00-67.00-47.00-17.00-11.00-26.00-31.00-31.00-24.00-2.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 646773866742284025142021
Inventory Days 69129851018433452837272529
Days Payable 34756860441013712997
Cash Conversion Cycle 991219012710766606150323642
Working Capital Days 495551576251557671514039
ROCE %15%18%13%11%12%9%4%7%7%7%9%10%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%74.96%
Public 25.04%25.04%25.04%25.05%25.04%25.05%25.05%25.03%25.04%25.04%25.04%25.04%
No. of Shareholders 6,9366,7526,6426,5616,1756,2496,7187,2867,4507,5557,3347,265

Shareholding Pattern Chart

No. of Shareholders

Incredible Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 2.701.281.050.770.78
Diluted EPS (Rs.) 2.701.281.050.770.78
Cash EPS (Rs.) 3.822.492.251.962.00
Book Value[Excl.RevalReserv]/Share (Rs.) 31.0628.3627.0826.0325.26
Book Value[Incl.RevalReserv]/Share (Rs.) 31.0628.3627.0826.0325.26
Revenue From Operations / Share (Rs.) 161.69174.95158.37114.55105.62
PBDIT / Share (Rs.) 4.724.613.883.673.31
PBIT / Share (Rs.) 3.573.402.682.482.09
PBT / Share (Rs.) 2.832.131.531.271.17
Net Profit / Share (Rs.) 2.671.281.050.760.77
PBDIT Margin (%) 2.912.632.453.203.13
PBIT Margin (%) 2.211.941.692.161.97
PBT Margin (%) 1.751.210.961.101.11
Net Profit Margin (%) 1.650.720.660.660.73
Return on Networth / Equity (%) 8.594.503.872.923.07
Return on Capital Employeed (%) 11.1010.918.397.596.70
Return On Assets (%) 6.432.842.341.761.87
Long Term Debt / Equity (X) 0.000.020.080.130.15
Total Debt / Equity (X) 0.130.270.310.320.33
Asset Turnover Ratio (%) 3.743.903.602.712.75
Current Ratio (X) 3.302.582.753.133.16
Quick Ratio (X) 2.041.771.902.132.46
Inventory Turnover Ratio (X) 14.1314.7013.8311.819.58
Interest Coverage Ratio (X) 6.343.653.373.043.62
Interest Coverage Ratio (Post Tax) (X) 4.592.011.911.631.85
Enterprise Value (Cr.) 167.14189.37123.89135.70128.76
EV / Net Operating Revenue (X) 0.220.230.160.250.26
EV / EBITDA (X) 7.578.796.827.908.32
MarketCap / Net Operating Revenue (X) 0.220.200.110.180.18
Price / BV (X) 1.161.240.680.800.76
Price / Net Operating Revenue (X) 0.220.200.110.180.18
EarningsYield 0.070.030.050.030.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Incredible Industries Ltd. is a Public Limited Listed company incorporated on 23/08/1979 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L27100WB1979PLC032200 and registration number is 032200. Currently Company is involved in the business activities of Manufacture of basic iron and steel. Company's Total Operating Revenue is Rs. 840.30 Cr. and Equity Capital is Rs. 46.76 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
Steel14, Netaji Subhas Road, 2nd Floor, Kolkata West Bengal 700001Contact not found
Management
NamePosition Held
Mr. Rama Shankar GuptaChairman & Managing Director (Executive Director)
Mr. Niket AgarwalNon Exe.Non Ind.Director
Mr. Sanjay KaloyaNon Exe.Non Ind.Director
Mrs. Sonam AgarwalInd. Non-Executive Director
Mrs. Shilpi ModiInd. Non-Executive Director
Mr. Deepak Kumar AgarwallaInd. Non-Executive Director

FAQ

What is the intrinsic value of Incredible Industries Ltd and is it undervalued?

As of 19 June 2026, Incredible Industries Ltd's intrinsic value is ₹39.06, which is 13.88% higher than the current market price of ₹34.30, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (7.62 %), book value (₹33.6), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Incredible Industries Ltd?

Incredible Industries Ltd is trading at ₹34.30 as of 19 June 2026, with a FY2026-2027 high of ₹53.4 and low of ₹26.0. The stock is currently in the middle of its 52-week range. Market cap stands at ₹161 Cr..

How does Incredible Industries Ltd's P/E ratio compare to its industry?

Incredible Industries Ltd has a P/E ratio of 13.9, which is below the industry average of 20.52. This is broadly in line with or below the industry average.

Is Incredible Industries Ltd financially healthy?

Key indicators for Incredible Industries Ltd: ROCE of 10.6 % is moderate; ROE of 7.62 % is below ideal levels (industry average: 11.30%). Dividend yield is 0.00 %.

Is Incredible Industries Ltd profitable and how is the profit trend?

Incredible Industries Ltd reported a net profit of ₹12 Cr in Mar 2025 on revenue of ₹753 Cr. Compared to ₹4 Cr in Mar 2022, the net profit shows an improving trend.

Does Incredible Industries Ltd pay dividends?

Incredible Industries Ltd has a dividend yield of 0.00 % at the current price of ₹34.30. The company is currently not paying meaningful dividends.

Last Updated: June 12, 2026, 8:49 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 538365 | NSE: INCREDIBLE
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Incredible Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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