Incap Ltd
INCAPBSE
₹69.30▼ -7.70 (-10.00%)
Whole company worth₹36 Cr
Price for ₹1 of profit₹105
1-year range₹64 – ₹116
The short version
A slow-growing, thinly profitable business — priced at a steep premium to what it earns.
What Incap does
Incorporated in 1993, Incap Ltd deals in manufacturing and sale of Capacitors.
Worked out from Incap's own filed results and exchange data, in plain words. Where a finance term matters, we say what it means.
01What does it do?
Incap is a micro-sized company in other electrical equipment.
Incorporated in 1993, Incap Ltd deals in manufacturing and sale of Capacitors.
- Whole company is worth
- ₹36 crore
- Run by
- C Bhagvantha Rao
- Shareholders
- 3,224 people
- Listed since
- 1994
A very small company by stock-market value — prices can swing hard and trading can be thin.
02Is it growing?
Sales have grown 9% a year for 5 years.
At that pace a business doubles in size roughly every 8 years. Profit, though, fell 10% a year over the same stretch.
Point at a bar for exact figures · amounts in ₹ crore
03Does it make money?
Out of every ₹100 it sells, it keeps ₹1.1 as profit.
Here is where the money from Incap's sales went in FY26, the latest full year it has reported.
₹81
₹15
- ₹81Making or buying what it sellsraw materials, stock, goods bought for resale
- ₹15Running the businessstaff, rent, marketing, power and everything else
- ₹1.0Interest on its loansthe cost of borrowed money
- ₹1.6Wear and tearmachines, stores and buildings losing value over time
- ₹0.5Taxincome tax paid to the government
- ₹1.1Profit it keepswhat is left for the company's owners
On the money its owners have put in
It earns ₹2 a year on every ₹100 its owners have invested.
Bank FD ~₹6–7
₹2
₹-10₹0₹10₹20₹30₹40
That figure is called return on equity (ROE). Under ₹12 is a thin return for the risk of owning shares. For comparison, a bank fixed deposit pays roughly ₹6–7.
Does the profit turn into cash?
For every ₹100 of profit it reported, ₹-178 actually came in as cash.
Profit it reported₹1.8 Cr
Cash its business brought in−₹3.2 Cr
Over the last 3 years: ₹1.8 crore of profit but only −₹3.2 crore of cash. A wide gap like this is worth understanding before trusting the profit figure.
04Is the price high or low?
You pay ₹105 for every ₹1 of profit it makes in a year.
This is the P/E ratio: share price divided by a year's profit per share. A P/E of 105 means buyers are paying for about 105 years of today's profit up front.
The share price over the past year
It is 40% below its highest price of the past year and 8% above its lowest.
05Who owns it?
Its founders and parent group own 67 of every 100 shares — they control the company.
If the company were split into 100 equal shares, this is who would hold them. 3,224 people and institutions hold its shares.
As filed for the quarter ending 30 Sept 2026. Arrows show the change since the quarter before, in percentage points.
06What is going well, and what to watch
One thing going well, three things worth watching.
Picked out of the numbers above by fixed rules — the same rules for every company — so nothing here is somebody's opinion.
Going well
- Has almost no debt — it is not at the mercy of lenders.
Worth watching
- The share price is 105 times a year's profit, so it leans heavily on growth continuing.
- Thinly traded — only about ₹1 lakh of shares change hands a day, so buying or selling can move the price.
- The share price is 40% below its high of the past year.
07What happened lately?
Latest quarter: sales down 46%, profit down 63%.
Apr–Jun 2026 is the most recent quarter it has reported. Each figure is compared with the same three months a year earlier, because many businesses sell more in some seasons than others.
Sales
₹5.4 Cr
▼ 45.6% on a year earlier
Profit
₹0.1 Cr
▼ 63.3% on a year earlier
No notable developments in the last few weeks.
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This page describes Incap using its reported figures and exchange data. It is for information only and is not investment advice or a recommendation to buy, sell or hold. DocStoX is not a SEBI-registered investment adviser or research analyst.
Incap Ltd (INCAP): company summary
The company's business has declined over the past year, with revenue falling 5.7% to ₹32 crore and net profit dropping to ₹0 crore from ₹1 crore.
Incap Ltd (INCAP) is a micro-cap Capital Goods company valued at ₹36 crore operating in Other Electrical Equipment on the NSE and BSE.
- Recent price move
- Incap Ltd last traded at ₹69.3, sharply down 10.00% on the day.
- Financial performance
- The company's business has declined over the past year, with revenue falling 5.7% to ₹32 crore and net profit dropping to ₹0 crore from ₹1 crore. The latest quarter shows a sharp decline, with revenue falling 45.6% to ₹5 crore compared to the same quarter a year earlier, while net profit remained at ₹0 crore.
- Valuation multiples
- The stock trades at 105.0 times earnings, 2.70 times book value. It yields 1.2%.
- Things to watch
- The company has reported an annual net profit of ₹0 crore, a significant drop from ₹1 crore a year ago. The net profit margin has narrowed to 1.1% from 2.4% in the prior year. The latest quarter's revenue fell 45.6% compared to the same quarter a year earlier, indicating weak performance.
- Where it stands
- Incap Ltd has seen a decline in both revenue and net profit over the past year, with the latest quarter showing a sharp drop in revenue. The company's net profit margin has also narrowed, and it remains at a net profit of ₹0 crore. The stock is 35.3% below its 52-week high.
Summarised by DocStoX's model on 2026-10-18 from company filings, exchange data and news. This is a factual summary, not a rating or a recommendation. Informational only, not investment advice. Consult a SEBI-registered adviser before investing.
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Incap Ltd peers in Capital Goods
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