International Combustion India Ltd Stable Revenue Amid Challenging Conditions, Anticipates Growth Opportunities

International Combustion India Ltd's revenue remained stable at Rs. 292.98 crores in the year under review, despite a significant slowdown in demand for capital goods in steel, mining and related sectors. The slowdown intensified competition and increased pricing pressure, leading to a decline in profit before tax to Rs. 16.35 crores. However, the situation has begun to improve with signs of revival in the private sector CAPEX cycle. The company has undertaken a capital expenditure programme to expand the capacity of its Heavy Engineering and Bauer divisions. The Building Material Division has adequate capacity. The company's indigenous development of Industrial Gearboxes under the brand name 'IC Torque Drive' has received encouraging initial market response, with trial orders from several major users. Products of the Building Material Division are now being purchased by the company's licensing partner, Cementos CAPA, for distribution in the European market.