Table of Contents
ICL Fincorp Limited Unlisted Share
BUY
₹ 20.00
SELL
₹ 24.00
ICL Fincorp shares are likely in a sideways trend due to a combination of factors including the company's focus on the gold loan sector, a recent debt issue with a poor rating, and the broader market environment. This suggests a lack of significant upward or downward momentum in the stock price.
As on 30 Jul 2026, 10:20 PM, we are buying shares of the ICL FINCORP LIMITED for ₹ 20.00 and selling them for ₹ 24.00 per share.
About ICL Fincorp Limited Unlisted Share
1. About ICL Fincorp Limited:
ICL Fincorp Limited, established in 1999, is a prominent Non-Banking Financial Company (NBFC) based in South India. The company started its journey under the visionary leadership of Mr. K G Anilkumar, who played a significant role in the growth of the company. Originally, ICL forayed into the financial sector by acquiring Jawahar Finance Company, a Chennai-based NBFC, and expanded its offerings in the gold loan segment, which became its primary business. Today, ICL Fincorp operates more than 200 branches across Kerala, Tamil Nadu, Karnataka, Telangana, and Andhra Pradesh. The company’s diverse services include Gold Loans, Business Loans, Vehicle Loans, Money Transfer, Forex, and Tourism.
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2. Business Divisions:
ICL Fincorp has successfully carved a niche for itself in the competitive financial services market, primarily due to its robust gold loan offerings. Below are some key business divisions:
- Gold Loan: The company is one of the leading providers of gold loans in South India. The interest rates for gold loans range from 9% to 28%, depending on the tenure of the loan. With a strong understanding of gold price fluctuations, ICL offers various gold loan schemes, such as the ICL Vanitha-Suraksha and ICL Suvarna Gold Loan.
- Business Loans: ICL offers tailored business loans to small and medium enterprises (SMEs). These loans range from ₹10,000 to ₹5 lakh and are designed to help entrepreneurs meet their growing financial needs.
- Vehicle Loans: The company provides two-wheeler loans with a repayment tenure of one year. The loans are offered with competitive interest rates, catering mainly to salaried professionals and self-employed individuals.
- Other Services: In addition to loans, ICL Fincorp also offers money transfer services, forex, and health insurance through its associates.
3. Financial Highlights of ICL Fincorp Limited Unlisted Shares:
The financial performance of ICL Fincorp has been strong, demonstrating consistent growth in its asset book and profitability. Here are the key financial highlights:
- Revenue Growth: The company’s revenue has shown a steady increase, growing from ₹76 crore in FY21 to ₹83 crore in FY22, indicating positive business expansion.
- Profitability: In FY22, ICL Fincorp earned a Profit After Tax (PAT) of ₹2.7 crore, an increase from ₹2.6 crore in the previous year. The company’s Earnings Per Share (EPS) stood at ₹0.61, reflecting its profitability.
- Asset Growth: The company’s Advances (loans) grew from ₹30,164 crore in FY21 to ₹35,168 crore in FY22. This growth is a testament to the increasing demand for ICL’s gold loan services.
- Non-Performing Assets (NPA): ICL Fincorp has maintained a Gross NPA ratio of 0% in FY21 and FY22, highlighting the low-risk nature of its gold loan business. The company's Net NPA stood at a modest 1.9% in FY22, which is significantly lower than industry standards.
- Valuation: As of FY22, the current market price of ICL Fincorp’s unlisted shares is ₹26 per share, with a P/B ratio of 1.47x and a Book Value of ₹18.27 per share. These financial metrics suggest that the company is valued relatively fairly, considering its strong asset base and growth prospects.
Disclaimer*This research has been conducted on available data. Investors are advised to perform their own research and due diligence before making any investment decisions. We are not responsible for any financial losses or inaccuracies in the data provided
Pros
- Stock is trading at 1.14 times its book value
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 26.3%
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -6.23% over past five years.
- Company has a low return on equity of 3.68% over last 3 years.
Key Details
| Share Name | Particulars |
|---|---|
| ICL FIncorp Unlisted | 26.00 |
| Shares Price | Per Equity Share |
| Minimum Lot Size | Shares Worth Rs. 15000 |
| 52 Week High | ₹ 28 |
| 52 Week LoW | ₹ 25 |
| Depository | NSDL & CDSL |
| PAN Number | AAFCM0954R |
| ISIN Number | INE01CY01013 |
| CIN | U65191TN1991PLC021815 |
| RTA | N/A |
| Fundamentals | Value |
|---|---|
| Market Cap (in cr.) | 151.28 |
| P/E Ratio | 53.06 |
| P/B Ratio | 1.27 |
| Debt to Equity | 4.59 |
| ROE (%) | 2% |
| Book Value | 20.54 |
| EPS | 0.49 |
| Face Value | 10 |
| Total Shares | 58185900 |
Financials
| P&L Statement | 2025 | 2024 | 2023 |
|---|---|---|---|
| Interest Earned | 19002 | 14316 | 11219 |
| Other Income | 166 | 254 | 45 |
| Interest Expended | 7175 | 5674 | 4706 |
| Operating Expenses | 11649 | 8701 | 6067 |
| Provisions and contingencies | -166 | 90 | 67 |
| PAT | 244 | 8 | 304 |
| eps | 0.42 | 0.02 | 0.64 |
| Gross NPA | 1.03 | 1.57 | 5.2 |
| Net NPA | 0.88 | 1.39 | 3.52 |
| Ratio | FY25 | FY24 | FY23 |
|---|---|---|---|
| Operating Margin | 39% | 40% | 46% |
| Net Profit Margin | 1% | 0% | 3% |
| Return on Equity | 2% | 0% | 3% |
| Debt-Equity | 4.59 | 4.65 | 3.78 |
| Current Ratio | 1.02 | 1.02 | 1.07 |
| Dividend Payout | 0% | 0% | 0% |
| Company | ICL Fincorp Ltd | Manappuram Finance Ltd | Mangal Credit and Fincorp Ltd |
|---|---|---|---|
| Market Cap (₹ Crores) | 140 | 19790 | 363 |
| Profitability Margin (%) | 1% | 12% | 26% |
| ROCE (%) | 11% | 11% | 12% |
| ROE (%) | 2% | 10% | 10% |
| D/E Ratio | 4.59 | 2.90 | 1 |
| P/E Ratio | 48.98 | 16.90 | 27 |
| P/B Ratio | 1.17 | 1.62 | 3 |
| Book Value per Share (₹) | 20.54 | 147.00 | 72 |
| Assets | 2025 | 2024 | 2023 |
|---|---|---|---|
| Fixed Assets | 4773 | 4702 | 3255 |
| Cash and Balances | 4986 | 2012 | 1511 |
| Investments | 1869 | 669 | 471 |
| Advances | 65733 | 47827 | 40304 |
| Other Assets | 7930 | 8585 | 7225 |
| Total Assets | 85291 | 63795 | 52766 |
| Liabilities | 2025 | 2024 | 2023 |
|---|---|---|---|
| Share Capital | 5818.5 | 4979.36 | 4739 |
| FV | 10 | 10 | 10 |
| Reserves | 6133 | 4720 | 4394 |
| Borrowings | 54886 | 42361.16 | 34540 |
| Deposits | 0 | 0 | 0 |
| Other Liabilities | 18453.5 | 11734.48 | 9093 |
| Total Liabilities | 85291 | 63795 | 52766 |
Promoters or Management
| Name | Designation | Experience | Linkedin Profile |
|---|---|---|---|
| K G Anilkumar | Chairman & MD | 33 yrs | linkedin.com/in/k-g-anilkumar-0872141a4 |
| Uma AnilKumar | CEO | 20+ | linkedin.com/in/uma-anilkumar-b0a6a01a3 |
| Madhavankutty T | CFO | 20 yrs |
Annual Reports
Frequently Asked Questions
1. Has there been any rights issue in ICL Fincorp?
In January 2024, ICL fincorp issued shares at 25/- each to existing shareholders. Shares were issued in the ratio 1:5.
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