INCREDIBLE
Incredible Industries financials
- Market cap
- ₹143 Cr
- Sector
- Capital Goods
What Incredible Industries Limited does
Incredible Industries manufactures rolled steel products — TMT bars, wire rods, H.B. wire, billets, linkedge, annealed wire ("torkari") and wire nails — at its rolling mill in Raturia, Angadpur, Durgapur, West Bengal, serving construction and infrastructure customers concentrated in West Bengal, Bihar and the North-East. TMT bar production uses the Tempcore quenching-and-self-tempering process, developed through a technical collaboration with Centre de Recherches Metallurgiques (CRM), Belgium, and the plant is fed by an ERP-driven procurement setup that sources about 60% of raw material locally from SAIL and Adhunik Corporation. Alongside its core steel rolling operations, the company also generates electricity through a wind power unit.
Segments
- Steel rolled products
- Wind power generation
- Manufacturing plants
- 1 (rolling mill, Raturia, Durgapur, West Bengal)
- Installed capacity
- 1,70,000 MTPA
- Capacity utilization
- 85-90%
- Workforce
- 200+ employees
- Product portfolio
- 7 rolled-steel product lines (TMT bars, wire rods, HB wire, billets, linkedge, annealed wire, wire nails)
- Local raw material sourcing
- ~60% from SAIL & Adhunik Corporation
Quarterly results
Q1 FY27: revenue down 3.1%, net profit up 6.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 181 | 162 | 230 | 220 | 212 +17% | 189 +17% | 219 −5% | 213 −3% |
| EBITDA | 3 | 4 | 9 | 7 | 4 +24% | 4 +12% | 8 −13% | 7 +3% |
| Net profit | 2 | 3 | 6 | 4 | 1 −25% | 2 −41% | 5 −23% | 4 +6% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −27.8% 1Y
1Y: ₹46.5 on 10 Sept 2025 → ₹33.58. High ₹47.02 (19 Sept 2025), low ₹28.58 (30 Mar 2026).
Financials, as filed
Revenue grew 4.3% a year over 3 years, FY23 to FY26. Operating margin held at 2.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹741 Cr | ₹818 Cr | ₹756 Cr | ₹840 Cr |
| Operating profit | ₹18 Cr | ₹19 Cr | ₹21 Cr | ₹23 Cr |
| Operating margin | 2.4% | 2.4% | 2.8% | 2.7% |
| Interest | ₹5 Cr | ₹6 Cr | ₹3 Cr | ₹3 Cr |
| Depreciation | ₹6 Cr | ₹6 Cr | ₹5 Cr | ₹5 Cr |
| Net profit | ₹5 Cr | ₹6 Cr | ₹12 Cr | ₹12 Cr |
| Net margin | 0.7% | 0.7% | 1.7% | 1.4% |
| Cash from operations | ₹10 Cr | ₹24 Cr | ₹37 Cr | ₹10 Cr |
| Free cash flow | ₹8 Cr | ₹18 Cr | ₹31 Cr | ₹-13 Cr |
| ROCE | 7.0% | 9.0% | 10.0% | 10.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹47 Cr | ₹47 Cr | ₹47 Cr | ₹47 Cr | ₹47 Cr | ₹47 Cr |
| Reserves | ₹71 Cr | ₹75 Cr | ₹80 Cr | ₹86 Cr | ₹104 Cr | ₹110 Cr |
| Borrowings | ₹41 Cr | ₹48 Cr | ₹49 Cr | ₹43 Cr | ₹18 Cr | ₹34 Cr |
| Other liabilities | ₹34 Cr | ₹32 Cr | ₹33 Cr | ₹34 Cr | ₹26 Cr | ₹30 Cr |
| Total liabilities | ₹193 Cr | ₹202 Cr | ₹209 Cr | ₹210 Cr | ₹194 Cr | ₹221 Cr |
| Fixed assets | ₹42 Cr | ₹46 Cr | ₹43 Cr | ₹38 Cr | ₹30 Cr | ₹26 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹5 Cr | ₹13 Cr | ₹35 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹151 Cr | ₹155 Cr | ₹166 Cr | ₹167 Cr | ₹152 Cr | ₹160 Cr |
| Total assets | ₹193 Cr | ₹202 Cr | ₹209 Cr | ₹210 Cr | ₹194 Cr | ₹221 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count shrank 5% to 7,169.
- Promoters
- 75.0%
- Public
- 25.0%
Since Jun 2025
- Promoters +0.01 pp
- Public 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 75.0%, Public 25.0%.Dec '23: Promoters 75.0%, Public 25.1%.Mar '24: Promoters 75.0%, Public 25.0%.Jun '24: Promoters 75.0%, Public 25.1%.Sep '24: Promoters 75.0%, Public 25.1%.Dec '24: Promoters 75.0%, Public 25.0%.Mar '25: Promoters 75.0%, Public 25.0%.Jun '25: Promoters 75.0%, Public 25.0%.Sep '25: Promoters 75.0%, Public 25.0%.Dec '25: Promoters 75.0%, Public 25.0%.Mar '26: Promoters 75.0%, Public 25.0%.Jun '26: Promoters 75.0%, Public 25.0%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Incredible Industries Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Mahananda Suppliers Limited | 35.50% | unchanged |
| Sungrowth Share And Stocks Limited | 31.83% | unchanged |
| Vrindavan Advisory Services Llp | 9.27% | unchanged |
| Admirable Advisory Services Llp | 2.92% | unchanged |
| Deepak Hotilal Thakur | 2.50% | unchanged |
| Munesh Hotilal Thakur | 2.33% | unchanged |
| Late Meena Agarwal | 1.20% | unchanged |
| Vaibhav Agarwal | 1.12% | unchanged |
| Sonika Agarwal | 1.10% | unchanged |
| Sachin Kumar Agarwal | 1.06% | unchanged |
| Aakarsh Agarwal | 1.05% | unchanged |
| Chirag Agarwal | 0.94% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Incredible Industries Limited
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