Indo Count Industries Limited has informed the Exchange about Transcript
ICIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Indo Count reported Q3 FY26 total income of INR 1,074 crores, broadly flat QoQ despite a full quarter of 50% U.S. tariffs. EBITDA fell 16.8% QoQ to INR 102 crores with margins compressing to 9.5% (adjusted 10.4%) due to tariff absorption shared with customers and a INR 9.2 crore new Labour Code impact. PAT stood at INR 24 crores versus INR 39 crores in Q2. Management highlighted positive developments including the India-EU FTA (duty-free textile access to a USD 260 billion market), the easing of U.S. tariff uncertainty post trade deal, and commencement of its third U.S. facility (18 million pillow capacity, total 31 million). New business (utility bedding + brands like Wamsutta) now contributes 20% of revenue at a USD 100 million annualised run rate, with a stated target of USD 275 million by FY28 and a broader goal to double revenues by 2028. Net debt has been reduced by INR 215 crores versus March 2025, with management guiding margin recovery back to the 15-16% range as tariff drag and new business incubation costs (150-200 bps) ease.
Near-term margins remain pressured, but easing U.S. tariffs, the EU FTA tailwind and scaling of higher-margin U.S. manufacturing and branded businesses set up a clear multi-year earnings recovery story. Debt reduction and peaking capex should support return ratios, though the FY28 doubling target remains aggressive and execution-dependent.