International Conveyors Ltd. – Company Report
1. Company Overview
International Conveyors Ltd. (ICL), established in 1973 and headquartered in Kolkata, is India’s leading manufacturer and exporter of solid-woven, fabric-reinforced, polyvinyl chloride (PVC)-impregnated fire-retardant and anti-static conveyor belting. With over forty years of experience, ICL stands as the world’s second-largest producer of PVC solid-woven belts and controls an estimated 45% of the Indian market for belts used in underground mining. More than 90% of its production is exported, with major clients in the USA, Canada, South Africa, and Australia. The company operates ISO 9001:2015 certified facilities, with its principal plant located in Aurangabad, Maharashtra.
ICL also has diversified business interests, including wind energy and subsidiaries supporting international operations. Guided by the Dabriwala family, the company emphasizes continuous innovation, supported by strong in-house R&D and collaborations.
Key Highlights:
- Established: 1973
- Headquarters: Kolkata, West Bengal, India
- Certifications: ISO 9001:2015
- Core Focus: PVC solid woven conveyor belting for mining and industry
- Export Reach: USA, Canada, South Africa, Australia
- Other Ventures: Wind energy generation, international subsidiaries
2. Products and Services
International Conveyors Ltd. specializes in high-performance conveyor solutions and value-added engineering services.
Solid-Woven PVC Conveyor Belting:
- Fabric-reinforced, fire-retardant, anti-static belts for safe underground mining operations
- Multiple product grades and strengths to address varied industry specifications
- Custom production and turnkey solutions for critical bulk material handling applications
Related Products:
- Fire- and abrasion-resistant belts, customized for industrial uses
- Ancillary products and services: drum friction testing, dewatering chutes, pre-packing, inspection, and design support
Segments Served:
- Underground and surface mining
- Power, steel, cement, and port infrastructure
Other Activities:
- Wind energy projects supplying to the Indian grid
The company’s advanced production processes and robust quality controls ensure its conveyor belts consistently meet stringent international standards for safety and reliability.
3. Recent News and Financial Performance
Recent Developments:
- November 18, 2024: International Conveyors Ltd. acquired 1.11 lakh equity shares of Globus Spirits Limited for ₹9.13 crore.
- January 27, 2025: it acquired 26,363 equity shares of MCX for ₹14.744 crore.
- Further investments included:
- 27,228 shares in CDSL – ₹2.95 crore
- 1,29,685 shares in La Opala RG – ₹2.65 crore
- Shares in Sterling and Wilson Renewable Energy (SW Solar) – ₹3.49 crore
- ₹3 crore investment in TD Power Systems
- Elpro International Limited, a promoter group entity, has increased its stake in International Conveyors Limited from 69.98% to 70.05% through a series of open market transactions. The company acquired a total of 44,793 equity shares over four separate occasions between September 5 and September 10.
4. Financial Performance (FY2025):
| Metric | FY2025 Value |
|---|---|
| Total Revenue | ₹257 crore |
| Net Profit | ₹92 crore |
| Operating Profit Margin | ~14% |
| Return on Equity (ROE) | 29% |
| Earnings Per Share | ₹14.47 |
| Dividend | Reduced (focus on reinvestment) |