Integrated Capital Services Ltd

ICSL

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Market Cap

₹ 14 Cr

P/E

129.00

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Integrated Capital Services Limited (ICSL) is a company specializing in corporate advisory and consulting services. It offers expert services in turnaround and restructuring, mergers, takeovers, business combinations, and accounting services.

ICSL's strategic focus includes insolvency and bankruptcy advisory, with a dedicated subsidiary, BTG IP Services Private Limited, in this area since FY17-18.

The company has engaged in a series of share redemptions to streamline its equity structure and improve financial flexibility, reflecting a proactive approach to capital management.

Key partnerships, such as the agreement with Aurum Equity Partners LLP, align ICSL with firms having a strong focus on mergers and acquisitions and corporate restructuring across diverse sectors.

ICSL's merger with its former holding company, Deora Associates Private Limited, has streamlined its shareholding and enhanced its corporate governance structure.

Sector

Financial Services

Industry

Finance - Investment / Others

Market Cap

14 Cr

Volatility

Low Risk

P/E Ratio

129.0

Industry P/E

30.0

PEG Ratio

2.6

P/B Ratio

1.6

52W High

5.39

52W Low

3.45

Sales CAGR

24.53%

—

10Y

—

Profit CAGR

50.00%

—

10Y

—

ROE

TTM

1.12%

2.63%

-4.74%

10Y

-0.59%

ROCE

TTM

2.00%

2.58%

-5.32%

10Y

0.28%

Technicals

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
JACKSON	0.51	15 Cr	—	0.54	0.00	-2.99	-3.06	-2.92
DSINVEST	450.50	14 Cr	—	2.91	0.00	-4.97	-2.98	-3.62
INDOCITY	13.29	14 Cr	—	1.17	0.00	-5.27	-5.17	-5.14
VEDANTASSET	50.00	14 Cr	50.00	2.53	0.00	5.33	6.42	4.52
ICSL	3.87	14 Cr	129.00	1.63	0.00	1.12	2.00	0.96
JMDVL	4.69	14 Cr	20.39	0.35	0.00	1.72	2.20	1.95
CLFL	42.00	13 Cr	19.81	0.00	0.00	-16.82	10.80	10.26

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	0.11	0.03	0.15	0.23	0.07	0.15	0.19	0.25	0.37	0.22
Expenses	0.16	0.13	0.11	0.12	0.15	0.12	0.20	0.14	0.13	0.18
Operating Profit	-0.05	-0.10	0.04	0.11	-0.08	0.03	-0.01	0.11	0.24	0.04
OPM %	-45.45	-333.33	26.67	47.83	-114.29	20.00	-5.26	44.00	64.86	18.18
Other Income	0.01	0.03	0.01	0.02	0.02	0.06	-0.04	-0.01	0.03	0.04
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.03
Profit Before Tax	-0.08	-0.11	0.02	0.09	-0.09	0.05	-0.09	0.07	0.22	0.05
Tax %	475.00	-100.00	700.00	88.89	11.11	60.00	66.67	42.86	72.73	20.00
Net Profit	0.30	-0.22	-0.12	0.01	-0.08	0.02	-0.02	0.04	0.06	0.04
EPS in Rs	0.23	-0.06	-0.03	0.00	-0.02	0.01	-0.01	-0.02	0.21	0.01

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2.56	2.48	1.58	0.92	0.65	0.75	1.59	0.53	0.66	0.96
Expenses	1.91	1.50	1.85	0.74	0.76	5.98	0.61	0.52	0.60	0.59
Operating Profit	0.65	0.98	-0.27	0.18	-0.10	-5.23	0.98	0.01	0.06	0.37
OPM %	25.29	39.49	-17.11	19.66	-15.97	-695.99	61.52	1.26	9.19	38.54
Other Income	1.18	0.23	0.05	0.04	2.13	0.05	0.10	0.09	0.08	0.04
Interest	0.03	0.21	0.17	0.18	0.16	0.14	0.00	0.00	0.00	0.00
Depreciation	0.18	0.20	0.20	0.20	0.20	0.19	0.18	0.17	0.16	0.16
Profit Before Tax	1.62	0.79	-0.59	-0.16	1.67	-5.51	0.90	-0.08	-0.02	0.25
Tax %	26.74	37.81	-14.10	0.42	-11.75	18.00	17.62	69.15	64.62	60.00
Net Profit	1.18	0.49	-0.68	-0.16	1.86	-4.52	0.74	-0.02	-0.01	0.10
EPS in Rs	0.70	-0.40	-1.14	-0.38	1.44	0.64	0.21	0.14	-0.04	0.19
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	3.62	3.62	3.56	3.56	3.56	3.56	3.56	3.56	3.56	3.56
Reserves	4.64	6.19	6.91	2.88	1.97	2.21	4.53	5.25	5.68	5.50
Borrowings	5.52	4.63	4.86	4.94	4.47	3.50	2.90	2.05	2.13	2.50
Other Liabilities	1.55	1.91	1.69	1.42	1.36	1.39	1.38	1.30	1.27	0.62
Total Liabilities	15	16	17	13	11	11	12	12	13	12
Fixed Assets	8.06	8.11	8.88	8.07	7.90	7.75	8.63	8.44	8.74	8.55
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	6.37	7.17	7.18	4.31	3.12	1.38	0.79	0.72	0.80	0.57
Other Assets	0.90	1.06	0.96	0.41	0.34	1.52	2.94	3.00	3.10	3.05
Total Assets	15	16	17	13	11	11	12	12	13	12

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	1.38	1.49	0.52	-0.46	0.63	-2.04	2.10	0.59	-0.89	1.96
Cash from Investing Activity	-2.98	-0.01	-0.31	0.14	-0.00	3.80	-0.45	0.16	-0.50	0.26
Cash from Financing Activity	1.23	-0.92	-0.31	-0.10	-0.64	-1.14	-0.74	-0.85	0.00	-2.05
Net Cash Flow	-0.37	0.56	-0.09	-0.42	-0.02	0.62	0.91	-0.10	-1.39	0.17

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%	65.89%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	34.11%	34.11%	34.11%	34.11%	34.11%	34.11%	34.11%	34.11%	34.11%	34.11%	34.11%	34.11%
Total Shareholders	3,060	3,161	3,212	3,392	3,654	4,041	4,389	4,432	4,776	4,772	4,440	4,479

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Mar 20, 2024	Ruchi malhotra	Bulk	Sell	4.25	0.08 Cr	1,95,000	0.54

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

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Overview

Detailed Summary

ICSL's strategic focus includes insolvency and bankruptcy advisory, with a dedicated subsidiary, BTG IP Services Private Limited, in this area since FY17-18.

The company has engaged in a series of share redemptions to streamline its equity structure and improve financial flexibility, reflecting a proactive approach to capital management.

Key partnerships, such as the agreement with Aurum Equity Partners LLP, align ICSL with firms having a strong focus on mergers and acquisitions and corporate restructuring across diverse sectors.

ICSL's merger with its former holding company, Deora Associates Private Limited, has streamlined its shareholding and enhanced its corporate governance structure.

Sector

Financial Services

Industry

Finance - Investment / Others

Market Cap

14 Cr

Volatility

Low Risk

P/E Ratio

129.0

Industry P/E

30.0

PEG Ratio

2.6

P/B Ratio

1.6

52W High

5.39

52W Low

3.45

Sales CAGR

24.53%

—

10Y

—

Profit CAGR

50.00%

—

10Y

—

ROE

TTM

1.12%

2.63%

-4.74%

10Y

-0.59%

ROCE

TTM

2.00%

2.58%

-5.32%

10Y

0.28%

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	0.11	0.03	0.15	0.23	0.07	0.15	0.19	0.25	0.37	0.22
Expenses	0.16	0.13	0.11	0.12	0.15	0.12	0.20	0.14	0.13	0.18
Operating Profit	-0.05	-0.10	0.04	0.11	-0.08	0.03	-0.01	0.11	0.24	0.04
OPM %	-45.45	-333.33	26.67	47.83	-114.29	20.00	-5.26	44.00	64.86	18.18
Other Income	0.01	0.03	0.01	0.02	0.02	0.06	-0.04	-0.01	0.03	0.04
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.03
Profit Before Tax	-0.08	-0.11	0.02	0.09	-0.09	0.05	-0.09	0.07	0.22	0.05
Tax %	475.00	-100.00	700.00	88.89	11.11	60.00	66.67	42.86	72.73	20.00
Net Profit	0.30	-0.22	-0.12	0.01	-0.08	0.02	-0.02	0.04	0.06	0.04
EPS in Rs	0.23	-0.06	-0.03	0.00	-0.02	0.01	-0.01	-0.02	0.21	0.01

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2.56	2.48	1.58	0.92	0.65	0.75	1.59	0.53	0.66	0.96
Expenses	1.91	1.50	1.85	0.74	0.76	5.98	0.61	0.52	0.60	0.59
Operating Profit	0.65	0.98	-0.27	0.18	-0.10	-5.23	0.98	0.01	0.06	0.37
OPM %	25.29	39.49	-17.11	19.66	-15.97	-695.99	61.52	1.26	9.19	38.54
Other Income	1.18	0.23	0.05	0.04	2.13	0.05	0.10	0.09	0.08	0.04
Interest	0.03	0.21	0.17	0.18	0.16	0.14	0.00	0.00	0.00	0.00
Depreciation	0.18	0.20	0.20	0.20	0.20	0.19	0.18	0.17	0.16	0.16
Profit Before Tax	1.62	0.79	-0.59	-0.16	1.67	-5.51	0.90	-0.08	-0.02	0.25
Tax %	26.74	37.81	-14.10	0.42	-11.75	18.00	17.62	69.15	64.62	60.00
Net Profit	1.18	0.49	-0.68	-0.16	1.86	-4.52	0.74	-0.02	-0.01	0.10
EPS in Rs	0.70	-0.40	-1.14	-0.38	1.44	0.64	0.21	0.14	-0.04	0.19
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	3.62	3.62	3.56	3.56	3.56	3.56	3.56	3.56	3.56	3.56
Reserves	4.64	6.19	6.91	2.88	1.97	2.21	4.53	5.25	5.68	5.50
Borrowings	5.52	4.63	4.86	4.94	4.47	3.50	2.90	2.05	2.13	2.50
Other Liabilities	1.55	1.91	1.69	1.42	1.36	1.39	1.38	1.30	1.27	0.62
Total Liabilities	15	16	17	13	11	11	12	12	13	12
Fixed Assets	8.06	8.11	8.88	8.07	7.90	7.75	8.63	8.44	8.74	8.55
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	6.37	7.17	7.18	4.31	3.12	1.38	0.79	0.72	0.80	0.57
Other Assets	0.90	1.06	0.96	0.41	0.34	1.52	2.94	3.00	3.10	3.05
Total Assets	15	16	17	13	11	11	12	12	13	12

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	1.38	1.49	0.52	-0.46	0.63	-2.04	2.10	0.59	-0.89	1.96
Cash from Investing Activity	-2.98	-0.01	-0.31	0.14	-0.00	3.80	-0.45	0.16	-0.50	0.26
Cash from Financing Activity	1.23	-0.92	-0.31	-0.10	-0.64	-1.14	-0.74	-0.85	0.00	-2.05
Net Cash Flow	-0.37	0.56	-0.09	-0.42	-0.02	0.62	0.91	-0.10	-1.39	0.17