---
title: "ICSA (India) Ltd (ICSA) — Share Price, Financials & Analysis"
symbol: "ICSA"
company: "ICSA (India) Ltd"
canonical: "https://tapetide.com/stocks/ICSA"
isin: "INE306B01029"
nse_symbol: "ICSA"
bse_code: "531524"
sector: "Industrials"
industry: "Construction"
generated_at: "2026-09-13T19:14:37.391Z"
---

# ICSA (India) Ltd (ICSA)

Canonical page: https://tapetide.com/stocks/ICSA

## Company

- **NSE Symbol:** ICSA
- **BSE Code:** 531524
- **ISIN:** INE306B01029
- **Sector:** Industrials
- **Industry:** Construction
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-01
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** icsa-india.com

## About

ICSA (India) Ltd is an India based company. The Company also develops and maintains technology solutions which includes embedded solutions and software.

## Latest Price

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0.19 | 0 | 0 | 0.02 | 0.11 | 0.56 | 0.02 | 0.04 | 0.06 | 0 | 0 | 0 |
| Operating Profit | -0.19 | 0 | 0 | -0.02 | -0.11 | -0.56 | -0.02 | -0.04 | -0.06 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 1.7 | 8.93 | 0 | 0 | 0 | -1362.97 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1.25 | 0.85 | 0.85 | 0.85 | 0.85 | 0.59 | 0.59 | 0.59 | 0.05 | 0 | 0 | 0 |
| Profit before tax | -1.44 | -0.85 | -0.85 | 0.83 | 7.97 | -1.15 | -0.61 | -0.63 | -1363.08 | 0 | 0 | 0 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — | — | — |
| Net Profit | -1.44 | -0.86 | -0.86 | 0.82 | 7.97 | -1.15 | -0.61 | -0.64 | -1363.08 | 0 | 0 | 0 |
| EPS in Rs | -0.3 | -0.18 | -0.18 | 0.17 | 1.66 | -0.24 | -0.13 | -0.13 | -283.16 | 0 | 0 | 0 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 9m | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 23.54 | 4.56 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 354.95 | 14.52 | 0.99 | 129.94 | 0.28 | 56.21 | 0.65 | 0.13 | 0.69 | 0 |
| Operating Profit | -331.41 | -9.96 | -0.99 | -129.94 | -0.28 | -56.21 | -0.65 | -0.13 | -0.69 | 0 |
| OPM % | -1407.86 | -218.42 | — | — | — | — | — | — | — | — |
| Other Income | 0.11 | 0.29 | 2.87 | -1.1 | 0 | 0.15 | 0.01 | 10.63 | -1362.97 | 0 |
| Interest | 0.15 | 0.27 | 0.13 | 0.1 | 0 | 2.27 | 0 | 0 | 0 | 0 |
| Depreciation | 11.63 | 10.87 | 10.51 | 10.45 | 7.56 | 6.91 | 4.98 | 3.42 | 1.82 | 0 |
| Profit before tax | -343.08 | -20.81 | -8.76 | -141.59 | -7.84 | -65.24 | -5.62 | 7.08 | -1365.48 | 0 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | -343.08 | -20.8 | -8.76 | -141.59 | -7.84 | -65.24 | -5.62 | 7.08 | -1365.47 | 0 |
| EPS in Rs | -71.27 | -4.32 | -1.82 | -29.41 | -1.63 | -13.55 | -1.17 | 1.47 | -283.65 | 0 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Jun 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 |
| Reserves | -784.23 | -1127.31 | -1148.11 | -1156.88 | -1298.47 | -1306.3 | -1371.55 | -1377.16 | -1370.08 | -1371.84 |
| Borrowings | 1148.08 | 1157.05 | 1165.73 | 1177.95 | 1168.96 | 1049.56 | 1052.47 | 1052.54 | 1042.08 | 1041.77 |
| Other Liabilities | 397.65 | 357.26 | 341.38 | 340.86 | 339.35 | 458.75 | 457.97 | 458.32 | 458.35 | 458.62 |
| Total Liabilities | 771.13 | 396.63 | 368.63 | 371.56 | 219.47 | 211.64 | 148.52 | 143.33 | 139.98 | 138.18 |
| Fixed Assets | 118.2 | 106.56 | 95.69 | 85.18 | 61.15 | 53.59 | 17.27 | 12.18 | 8.66 | 6.7 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 652.93 | 290.07 | 272.94 | 286.38 | 158.32 | 158.05 | 131.25 | 131.15 | 131.32 | 131.48 |
| Total Assets | 771.13 | 396.63 | 368.63 | 371.56 | 219.47 | 211.64 | 148.52 | 143.33 | 139.98 | 138.18 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -0.76 | -3.64 | -14.03 | -7.91 | -0.28 | -30.95 | -0.63 | 1.57 | -282.78 | — |
| Cash from Investing Activity | 0.11 | 0.29 | 1.88 | 18.51 | 0 | 29.41 | 0.1 | 9 | 6.01 | — |
| Cash from Financing Activity | 1.67 | 2.46 | 12.09 | -10.55 | 0 | -0.37 | 0.42 | -10.4 | -1086.41 | — |
| Net Cash Flow | 1.02 | -0.9 | -0.06 | 0.05 | -0.28 | -1.91 | -0.1 | 0.17 | -1363.18 | — |
| Free Cash Flow | -0.76 | -3.64 | -14.03 | 4.51 | -0.28 | -30.95 | -0.63 | 10.57 | -276.77 | — |
| CFO/OP | 0 | 37 | 1417 | 6 | 100 | 55 | 97 | -1208 | 40983 | — |

### Ratios

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 2350.95 | 12137.85 | — | — | — | — | — | — | — | — |
| Inventory Days | 352.17 | 33215 | — | 4.21 | — | 0 | — | — | — | — |
| Days Payable | 440.72 | 42258.89 | — | 469.53 | — | — | — | — | — | — |
| Cash Conversion Cycle | 2262.39 | 3093.96 | — | — | — | — | — | — | — | — |
| Working Capital Days | -19964.14 | -102524.98 | — | — | — | — | — | — | — | — |
| ROCE % | -67.43 | -61.66 | -29.78 | — | — | — | — | — | — | — |

## Shareholding Pattern

### annual

| Category | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 6.45% | 6.45% | 6.2% | 6.2% | 6.2% | 6.2% | 6.2% | 5.51% |
| FIIs | 0.58% | 0.58% | 0.85% | 0% | 0% | 0% | 0% | 0.72% |
| DIIs | 7.88% | 7.88% | 7.38% | 8.19% | 8.19% | 8.19% | 8.19% | 6.56% |
| Public | 85.09% | 85.09% | 85.58% | 85.61% | 85.61% | 85.61% | 85.61% | 87.21% |
| No. of Shareholders | 39152 | 37226 | 35363 | 34586 | 34586 | 34586 | 34586 | 21 |

### Quarterly

| Category | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 6.2% | 6.2% | 6.2% | 6.2% | 6.2% | 6.2% | 6.2% | 6.2% | 6.2% | 6.2% | 6.2% | 5.51% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.72% |
| DIIs | 8.19% | 8.19% | 8.19% | 8.19% | 8.19% | 8.19% | 8.19% | 8.19% | 8.19% | 8.19% | 8.19% | 6.56% |
| Public | 85.61% | 85.61% | 85.61% | 85.61% | 85.61% | 85.61% | 85.61% | 85.61% | 85.61% | 85.61% | 85.61% | 87.21% |
| No. of Shareholders | 34586 | 34586 | 34586 | 34586 | 34586 | 34586 | 34586 | 34586 | 34586 | 34586 | 34586 | 21 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 6 / 2 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 0.29 | Sell |
| EMA (10) | 0.27 | Sell |
| SMA (20) | 0.32 | Sell |
| EMA (20) | 0.33 | Sell |
| SMA (50) | 0.63 | Sell |
| EMA (50) | 0.53 | Sell |
| SMA (100) | 0.71 | Sell |
| EMA (100) | 0.71 | Sell |
| SMA (200) | 0.93 | Sell |
| EMA (200) | 1.07 | Sell |

### Oscillators — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 28.2 | Buy |
| MACD (12,26,9) | -0.09 | Buy |
| Stochastic (14,3,3) | 5.56 | Buy |
| ADX (14) | 42.18 | Buy |
| Williams %R (14) | -100 | Buy |
| ATR (14) | 0.04 | High Volatility |
| ROC (12) | -42.86 | Sell |
| Stoch RSI (14) | 14.55 | Buy |
| UO (7,14,28) | 31.55 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-08-14 | [Board Meeting Outcome for Outcome Of The Meeting Of The Board Of Directors Of ICSA(India) Limited (The Company) Held On August 14 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d8d6a398-455e-4953-af39-738517115199.pdf) |
| 2026-08-14 | [Unaudited Financial Results For The Quarter Ended June 30 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dc610bc2-4a85-4936-a954-90e94afc6141.pdf) |
| 2026-08-09 | [Board Meeting Intimation for Board Meeting Intimation For Board Meeting Is Scheduled To Be Held On Thursday August 14 2026 Inter Alia](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=40412820-4a79-479f-b11b-227b0cf6cce1.pdf) |
| 2026-07-29 | [Board Meeting Outcome for Outcome Of The Board Meeting For Quarterly Results Of The CIRP Period](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bc80b6b7-1956-413a-ba47-2b31f5c41aa4.pdf) |
| 2026-07-20 | [Board Meeting Intimation for Meeting Of The Board Of Directors Of The Company Is Scheduled To Be Held On Wednesday July 29 2026 To Consider And Approve The Inter Alia The Unaudited And Audited (Standalone) Financial Results Of The Company As Per Attached](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=403b254c-5019-41ea-85d7-02d540ae868e.pdf) |
| 2026-06-26 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8b6a1160-a69d-411d-b8c7-226b10117612.pdf) |
| 2026-06-25 | [Board Meeting Outcome for Appointment Of Statutory Auditor And Secretarial Auditor Of The Company And Change Of Reg Office.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=18db890b-7730-4d3f-b821-6e57bf0b3a06.pdf) |
| 2026-06-25 | [Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c456de66-3ead-4e92-89f7-3b14e2ef4d67.pdf) |
| 2026-06-25 | [Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=907582ed-1fee-4829-8cd4-7d6f388ee1ed.pdf) |
| 2026-06-25 | [Announcement under Regulation 30 (LODR)-Change in Registered Office Address](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b6655cb5-25f5-46d8-9f13-0d14df49b2b6.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 30 Dec 2019 - Outcome of 2nd CoC Meeting of ICSA (India) Ltd held on December 27, 2019. | [Outcome of CoC Meeting 30 Dec 2019 - Outcome of 2nd CoC Meeting of ICSA (India) Ltd held on December 27, 2019.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1515FC17_F9E1_4516_B7E0_E3D22BC12412_103735.pdf) |
| 29 Apr - Board meeting on 2 May 2026 to appoint directors, note cessations, and discuss relisting compliances. | [Board Meeting Intimation for Board Meeting Intimation For Appointment Of Directors And Other Agenda Items 29 Apr - Board meeting on 2 May 2026 to appoint directors, note cessations, and discuss relisting compliances.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ca54fa3d-ec2d-46d3-af05-b3c9630683df.pdf) |
| 29 Apr - Board meeting on 2 May 2026 to appoint directors, note cessations, and discuss relisting compliances. | [Board Meeting Intimation for Board Meeting Intimation For Appointment Of Directors And Other Agenda Items 29 Apr - Board meeting on 2 May 2026 to appoint directors, note cessations, and discuss relisting compliances.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/ca54fa3d-ec2d-46d3-af05-b3c9630683df.pdf) |
| 24 Jun 2020 - Outcome of 5th CoC Meeting and liquidation proposal. | [Outcome of 5th CoC Meeting 24 Jun 2020 - Outcome of 5th CoC Meeting and liquidation proposal.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/06E9779D-22E1-467A-AFE8-3603613FDFAD-121502.pdf) |
| 23 Aug 2021 - Copy of NCLT order for Liquidation of ICSA (India) Ltd. | [Updates on Corporate Insolvency Resolution Process (CIRP) 23 Aug 2021 - Copy of NCLT order for Liquidation of ICSA (India) Ltd.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/F15A9F60-C283-4454-92CC-ACFC0A17E421-103833.pdf) |
| 2 May - Board appointed Venkateswar Nellutla MD and Mallour Rajesh Kumar director on 2 May 2026. | [Announcement under Regulation 30 (LODR)-Change in Management 2 May - Board appointed Venkateswar Nellutla MD and Mallour Rajesh Kumar director on 2 May 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f538d7b6-912a-4216-b952-3f33eaba78c5.pdf) |
| 2 May - Board appointed Venkateswar Nellutla MD and Mallour Rajesh Kumar director on 2 May 2026. | [Announcement under Regulation 30 (LODR)-Change in Management 2 May - Board appointed Venkateswar Nellutla MD and Mallour Rajesh Kumar director on 2 May 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/f538d7b6-912a-4216-b952-3f33eaba78c5.pdf) |
| 2 May - Board appointed Venkateswar Nellutla as Managing Director and Mallour Rajesh Kumar as non-executive director on 2 May 2026. | [Revised Out Come-The Details Are Wrongly Captured In Annexure , We Have Rectified The Same 2 May - Board appointed Venkateswar Nellutla as Managing Director and Mallour Rajesh Kumar as non-executive director on 2 May 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1eb1d75c-3d26-4dba-8a76-1fcee29277e8.pdf) |
| 2 May - Board appointed Venkateswar Nellutla as Managing Director and Mallour Rajesh Kumar as non-executive director on 2 May 2026. | [Revised Out Come-The Details Are Wrongly Captured In Annexure , We Have Rectified The Same 2 May - Board appointed Venkateswar Nellutla as Managing Director and Mallour Rajesh Kumar as non-executive director on 2 May 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/1eb1d75c-3d26-4dba-8a76-1fcee29277e8.pdf) |
| 2 May - Board appointed Venkateswar Nellutla as Managing Director and Mallour Rajesh Kumar as director on 2 May 2026. | [Board Meeting Outcome for Outcome Of BM For Appointment Of Directors And Other Items 2 May - Board appointed Venkateswar Nellutla as Managing Director and Mallour Rajesh Kumar as director on 2 May 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/aac85d30-e7a5-4306-b925-906fd2346769.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_2853_ICSA_2011_2012_08112013090002.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_ICSA_2009_2010_21042011101516.zip) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/531524/5315240318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/531524/5315240317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/531524/5315240316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/531524/5315240315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/531524/5315240614.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/531524/5315240613.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/531524/5315240311.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/531524/5315240310.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:14:37.391Z.