International Conveyors Limited , a leading manufacturer of conveyor belts, has released its unaudited financial results for the second quarter and half-year ended September 30, 2025, showcasing a mixed performance across various segments.

Standalone Performance

On a standalone basis, the company reported revenue from operations of Rs. 3,966.00 lakhs for Q2 FY26, marking a significant increase from Rs. 3,321.00 lakhs in the previous quarter. However, the company's profit after tax saw a substantial decrease to Rs. 2,876.00 lakhs in Q2 FY26, compared to Rs. 5,443.00 lakhs in Q1 FY26.

For the half-year period ending September 30, 2025, International Conveyors Limited achieved a standalone revenue of Rs. 6,146.00 lakhs, with a profit after tax of Rs. 2,790.00 lakhs.

Consolidated Results

The consolidated financial results paint a slightly different picture. For Q2 FY26, the company's quarterly revenue stood at Rs. 3,536.00 lakhs, with a profit after tax of Rs. 1,736.00 lakhs. The consolidated half-year revenue reached Rs. 6,077.00 lakhs.

Segment-wise Performance

The company's performance varied across different segments:

The Conveyor Belts segment continues to be the primary revenue driver for the company.

Financial Position

As of September 30, 2025, the company's consolidated balance sheet shows:

• Total Assets: Rs. 55,996.00 lakhs
• Total Equity: Rs. 39,133.00 lakhs (including share capital of Rs. 634.00 lakhs and other equity of Rs. 38,499.00 lakhs)
• Total Liabilities: Rs. 16,863.00 lakhs

Earnings Per Share

The basic earnings per share (EPS) for the standalone entity was Rs. 2.96 for Q2 FY26, while the consolidated EPS stood at Rs. 2.74 for the same period.

Management Commentary

The company's management noted that the loss reported during Q2 FY26 is primarily attributable to mark-to-market adjustments in the investment portfolio as per Ind-AS 109. However, for the first half of FY26, there was a mark-to-market gain, indicating the volatile nature of investment valuations.

Subsidiaries and Global Presence

International Conveyors Limited operates through several subsidiaries, enhancing its global footprint:

1. International Belting Limited (India)
2. International Conveyors America Limited, Inc. (USA)
3. Conveyor Holdings Pte Limited (Singapore)
4. International Conveyors Australia Pty Ltd (Australia, step-down subsidiary)

Conclusion

While International Conveyors Limited has shown growth in its operational revenue, the fluctuations in profit, particularly due to investment portfolio adjustments, highlight the challenges faced by the company in the current economic environment. The diverse geographical presence through its subsidiaries may provide some resilience, but investors should closely monitor the company's performance in the coming quarters.

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on November 13, 2025. The statutory auditors have carried out a limited review of these financial results and have expressed an unqualified conclusion.

International Conveyors has reported that Elpro International Limited has increased its shareholding in the company through two separate open market transactions. This move has triggered disclosure requirements under the Securities and Exchange Board of India (SEBI) regulations for substantial acquisition of shares and takeovers.

Transaction Details

According to the disclosures filed with both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), Elpro International Limited made the following acquisitions:

• Purchase of 3,582 equity shares
• Purchase of 5,170 equity shares

These transactions were executed through open market purchases, demonstrating Elpro International's growing interest in International Conveyors.

Regulatory Compliance

In compliance with SEBI regulations, International Conveyors promptly submitted the required disclosures to both BSE and NSE. The company, which trades under the symbol INTLCONV with scrip code 509709, ensured transparency by filing two separate disclosure reports.

Corporate Communication

Dipti Sharma, the Company Secretary and Compliance Officer of International Conveyors, signed off on the regulatory filings. The disclosures were made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, highlighting the significance of the share acquisitions.

Market Implications

While the exact percentage increase in Elpro International's stake in International Conveyors was not specified, the multiple purchases suggest a strategic move to strengthen its position. This development may be of interest to market watchers and investors tracking the conveyors and industrial equipment sector.

Shareholders and potential investors of both Elpro International Limited and International Conveyors may want to monitor further developments, as such acquisitions can sometimes precede more significant corporate actions or changes in business strategy.