Indo Count Industries Ltd

Campus Activewear Ltd, Garware Hi Tech Films Ltd, Elgi Equipments Ltd and Force Motors Ltd are among the other gainers in the BSE's 'A' group today, 12 February 2025.Indo Count Industries Ltd soared 12.10% to Rs 302.85 at 11:48 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.33 lakh shares were traded on the counter so far as against the average daily volumes of 17816 shares in the past one month. Campus Activewear Ltd spiked 8.68% to Rs 286.1. The stock was the second biggest gainer in 'A' group. On the BSE, 2.76 lakh shares were traded on the counter so far as against the average daily volumes of 53971 shares in the past one month. Garware Hi Tech Films Ltd surged 7.39% to Rs 3920.45. The stock was the third biggest gainer in 'A' group. On the BSE, 7132 shares were traded on the counter so far as against the average daily volumes of 8800 shares in the past one month. Elgi Equipments Ltd spurt 6.80% to Rs 572.9. The stock was the fourth biggest gainer in 'A' group. On the BSE, 39107 shares were traded on the counter so far as against the average daily volumes of 9419 shares in the past one month. Force Motors Ltd rose 6.67% to Rs 6710. The stock was the fifth biggest gainer in 'A' group. On the BSE, 3141 shares were traded on the counter so far as against the average daily volumes of 3276 shares in the past one month. Powered by Capital Market - Live

The frontline indices trim some losses and traded with substantial losses on Monday as concerns over persistent foreign institutional investor (FII) selling and escalating trade war tensions continued to weigh on market sentiment. The Nifty slipped below the 22,950 mark. Oil & gas shares witnessed selling pressure for the fifth consecutive trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex, slipped 498.77 points or 0.66% to 75,796.02. The Nifty 50 index lost 113.50 points or 0.58% to 22,938.30. In the broader market, The S&P BSE Mid-Cap index fell 0.66%, and the S&P BSE Small-Cap index dropped 0.85%. The market breadth was weak. On the BSE, 1,027 shares rose and 2,743 shares fell. A total of 121 shares were unchanged. IPO Update: The initial public offer (IPO) of Hexaware Technologies received bids for 7,38,108 shares as against 9,14,23,354 shares on offer, according to stock exchange data at 11:15 IST on 12 February 2024. The issue was subscribed to 0.01 times. The issue opened for bidding on 12 February 2024 and it will close on 14 February 2024. The price band of the IPO is fixed between Rs 674 and Rs 708 per share. An investor can bid for a minimum of 21 equity shares and in multiples thereof. The initial public offer (IPO) of Ajax Engineering received bids for 79,34,195 shares as against 1,41,49,997 shares on offer, according to stock exchange data at 11:15 IST on 12 February 2024. The issue was subscribed to 0.56 times. The issue opened for bidding on 10 February 2024 and it will close on 12 February 2024. The price band of the IPO is fixed between Rs 599 and Rs 629 per share. An investor can bid for a minimum of 23 equity shares and in multiples thereof. Buzzing Index: The Nifty Oil & Gas index fell 1.29% to 9,987.25. The index dropped 6.08% in five consecutive trading sessions. Aegis Logistics (down 2.09%), Reliance Industries (down 2.02%), Indraprastha Gas (down 1.58%), Petronet LNG (down 1.56%), GAIL (India) (down 1.39%), Gujarat Gas (down 1.35%), Hindustan Petroleum Corporation (down 1.32%), Gujarat State Petronet (down 1.14%), Indian Oil Corporation (down 0.95%) and Oil & Natural Gas Corpn (down 0.77%) declined. Stocks in Spotlight: Indo Count Industries soared 10.24% after the company's consolidated net profit jumped 30% to Rs 75 crore in Q3 FY25 as compared with Rs 58 crore in Q3 FY24. Revenue from operations increased 30% YoY to Rs 1,151.55 crore in Q3 FY25. Gopal Snacks slipped 3.26% after the company's standalone net profit slipped 70.31% to Rs 5.31 crore as against Rs 17.89 crore posted in Q3 FY24. However, revenue from operations rose 7.07% to Rs 393.57 crore in Q3 FY25 over Q3 FY24. Glenmark Pharmaceuticals declined 1.94%. The company has announced the launch of Clindamycin Phosphate Foam, which is a bioequivalent and therapeutically equivalent to the reference listed drug, Evoclin Foam of Mylan Pharmaceuticals Inc. Global Markets: Most Asian stocks traded higher on Wednesday as investors digested the impact of recent U.S. trade policy changes on regional economies. U.S. Federal Reserve Chair Jerome Powell re-emphasized on Tuesday the central bank's focus on curbing inflation and signaled that policymakers were not in a rush to push interest rates lower. In the U.S., the three major averages closed mixed. The S&P 500 added 0.03%, while the Nasdaq Composite lost 0.36%. The Dow Jones Industrial Average gained 0.28%. Tesla Inc was a major weight on tech stocks, losing 6.3% during Tuesday's session as investors fretted over a slew of headwinds for the stock, including heightened competition from Chinese EV makers, as well as concerns that CEO Elon Musk's focus may be too diluted. Investors were still digesting the impact of recently imposed higher trade tariffs, which are expected to potentially underpin inflation and weigh on economic growth in the coming months. Further trade policy changes have also been signaled. The Fed Chair is set to testify before Congress on Wednesday, where he is likely to be questioned about the impact of these policies on the economy and inflation. Powered by Capital Market - Live

Revenue from operations increased 30% YoY to Rs 1,151.55 crore in Q3 FY25. Profit before tax (PBT) jumped 26.6% YoY to Rs 99.55 crore in Q3 FY25. EBITDA stood at Rs 165 crore in Q3 FY25, registering the growth of 40% YoY as compared with Rs 118 crore in Q3 FY24. EBITDA margin reduced 205 bps to 14.2% in Q3 FY25 as against 16.2% in Q3 FY24. In Q3 FY25, sales volume stood at 27.7 million meters. 'Fluvitex USA, Inc. and Modern Home Textiles, USA, along with new licensed brands, have started contributing to revenues. Achieved around Rs 100 crore in revenue in Q3; however, increased investments in systems and new hires have led to lower absorption of fixed costs,' the company stated in regulatory filing. The company aims to set up a greenfield manufacturing facility in North Carolina, USA to deepen its market presence. It will invest approximately $15 million in the project, with a production capacity of 18 million pillows. The facility will be funded through a debt-to-equity ratio of 75:25. The gradual rollout, with revenue buildup targeted from September 2025. On the outlook front for the financial year the 2024-2025, the company expects to achieve the lower end of sales volume guidance of 110-115 million meters with EBITDA margins in the range of 15-16%, upfront investments in team in USA to impact margins by 150-200bps and core bedding business continues to operate in guided margin range of approximately 16%. Anil Kumar Jain, executive chairman, said, 'At Indo count we have outperformed in challenging times especially in some of our end markets. We are making significant progress towards expanding our portfolio with value-added products through our strategic investments and prudent capital allocation. Our relentless focus on serving both existing and new customers, with the enhanced product portfolio on back of recent acquisitions and value-added solutions, will help us strengthen our leadership position in the market. In the medium term, we see tailwinds in business and have strengthened our leadership team with key hires to drive growth and bring in the right expertise. Focus is also on expanding the brands and utility bedding business which is expected to be a key driver for the next phase of growth. Our optimism remains high for the next 3 years with the strategic initiatives we have executed over the last few quarters.' Indo Count Industries is the largest global home textile bed linen manufacturer.Powered by Capital Market - Live

Net profit of Indo Count Industries rose 29.99% to Rs 75.47 crore in the quarter ended December 2024 as against Rs 58.06 crore during the previous quarter ended December 2023. Sales rose 61.41% to Rs 1151.55 crore in the quarter ended December 2024 as against Rs 713.42 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales1151.55713.42 61 OPM %12.9714.61 - PBDT129.88100.24 30 PBT99.5578.61 27 NP75.4758.06 30 Powered by Capital Market - Live

Indo Count Industries will hold a meeting of the Board of Directors of the Company on 11 February 2025.Powered by Capital Market - Live

Net profit of Indo Count Industries declined 28.59% to Rs 81.54 crore in the quarter ended September 2024 as against Rs 114.18 crore during the previous quarter ended September 2023. Sales rose 2.67% to Rs 1035.85 crore in the quarter ended September 2024 as against Rs 1008.96 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1035.851008.96 3 OPM %15.2016.31 - PBDT135.90171.07 -21 PBT110.79150.84 -27 NP81.54114.18 -29 Powered by Capital Market - Live

Indo Count Industries will hold a meeting of the Board of Directors of the Company on 7 November 2024Powered by Capital Market - Live

Indo Count Industries  announced another strategic move to broaden its Utility Bedding segment. Indo Count Global, Inc. (ICG), a 100% U.S. based subsidiary of Indo Count Industries has acquired Modern Home Textiles, Inc., manufacturer of wide range of pillows and other filled products (Utility Bedding) having its facility located at Phoenix, Arizona with an annual capacity to produce 8 mn. pillows. ICG also acquired last month majority stake in Fluvitex USA, Inc., a pillow and quilt manufacturing company based in Columbus, Ohio which has the capacity to produce 5 mn. pillows and 1.5 mn. quilts. This back-to-back acquisition is a stepping stone to establish an integrated utility bedding business for the North American Market. These acquisitions have different locations one in Midwest and the other one on the West Coast thus providing an efficient distribution base to both existing and prospective customers. With these two acquisitions, the total manufacturing capacity in USA will be 13 mn. Pillows and an additional capacity of 1.5 mn. Quilts annually. At full capacity, the total expected revenue is USD 85 mn. plus. The Customer base in both Fluvitex and Modern Home Textile are not overlapping, thus providing a strong projected growth. These investments by Indo Count Global, USA are part of a larger plan to build significant capacities in pillow manufacturing to service the utility bedding customers in North America.Powered by Capital Market - Live

The key equity indices reversed all losses and traded with small gains in mid-morning trade. The Nifty marched above the 25,400 level after hitting the day's low of 25,352.25 in morning trade. IT shares advanced after declining in the previous trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex, added 92.63 points or 0.12% to 83,079.37. The Nifty 50 index rose 34.45 points or 0.14% to 25,418.20. In the broader market, the S&P BSE Mid-Cap index shed 0.02% and the S&P BSE Small-Cap index fell 0.41%. The market breadth was weak. On the BSE, 1,565 shares rose and 2,000 shares fell. A total of 138 shares were unchanged. IPO Update : The initial public offer (IPO) of Western Carriers (India) received 12,88,93,197 bids for shares as against 2,08,68,467 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (17 September 2024). The issue was subscribed 6.18 times. The issue opened for bidding on Friday (13 September 2024) and it will close on Wednesday (18 September 2024). The price band of the IPO is fixed between Rs 163 to Rs 172 per share. An investor can bid for a minimum of 87 equity shares and in multiples thereof. The initial public offer (IPO) of Northern Arc Capital received 9,92,54,442 bids for shares as against 2,14,78,290 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (17 September 2024). The issue was subscribed 4.62 times. The issue opened for bidding on Monday (16 September 2024) and it will close on Thursday (19 September 2024). The price band of the IPO is fixed between Rs 249 to 263 per share. An investor can bid for a minimum of 57 equity shares and in multiples thereof. The initial public offer (IPO) of Arkade Developers received 20,51,50,000 bids for shares as against 2,37,75,719 shares on offer, according to stock exchange data at 15:15 IST on Tuesday (17 September 2024). The issue was subscribed 8.63 times. The issue opened for bidding Monday (16 September 2024) and it will close on Thursday (19 September 2024). The price band of the IPO is fixed between Rs 121 to 128 per share. An investor can bid for a minimum of 110 equity shares and in multiples thereof. Buzzing Index : The Nifty IT index rose 0.40% to 43,526.40. The index fell 0.10% in the past trading session. Tech Mahindra (up 0.79%), Mphasis (up 0.76%), LTIMindtree (up 0.72%), L&T Technology Services (up 0.47%) and Persistent Systems (up 0.47%), HCL Technologies (up 0.31%), Tata Consultancy Services (up 0.19%), Coforge (up 0.16%), Infosys (up 0.02%) advanced. Stocks in Spotlight : Indo Count Industries added 1.75% after the company said that its wholly owned subsidiary Indo Count Global has acquired majority stake of 81% in Fluvitex USA, Inc. JK Tyre & Industries fell 1.07%. The company's board approved the plan to merge Cavendish Industries with the company. HEG declined 1.89% after the Gulshan Sakhuja resigned as CFO with effect from 16 Monday 2024. Global Markets : Asia-Pacific stocks traded mixed on Tuesday as investors awaited for the Federal Reserve to kick off its monetary loosening cycle. Regional markets were influenced by a mixed performance on Wall Street, where technology stocks pulled down the Nasdaq Composite. Conversely, the Dow Jones Industrial Average reached a new high, driven by optimism about lower interest rates. Trading volumes were subdued due to market holidays in China and South Korea. Sentiment towards China was dampened by concerns about a potential escalation in trade tensions with the West. The Fed is set to meet Tuesday and Wednesday and is widely anticipated to lower rates for the first time since it began its hiking cycle in March 2022. Markets are pricing in at least 100 basis points of cuts this year. In the United States, the S&P 500 gained 0.13%, while the Dow Jones Industrial Average rose 0.55%, notching a record close. The tech-heavy Nasdaq Composite declined by 0.52%. Apple shares fell by 2.8% following analyst reports suggesting weaker demand for iPhone 16 Pro models compared to the previous year. Chip stocks, such as Nvidia, which led the market rebound last week, also faced selling pressure as investors took profits.Powered by Capital Market - Live

The agreement also grants Indo Count Global an exclusive option to buy the balance 19% stake within the next 5 years. i.e. by September 30, 2029. The acquisition is funded by internal accruals and debt. The said stake in Fluvitex USA is being acquired from its promoter shareholder Masias Invest, S.L., a renowned Spanish textile machinery firm since 1944. Fluvitex is a pillow & quilt manufacturing company based in Columbus, Ohio with an annual production capacity of 5 million pillows of different types and 1.5 million quilts. Fluvitex's strategic location allows efficient distribution across the USA and Canada with a revenue potential of more than USD 50 million. The acquisition would provide Indo Count with a manufacturing footprint in the USA, thus enabling the company to offer a diverse range of bedlinen products, including pillows, quilts, decorative pillows and other fashion-filled products to the large North American market. Mohit Jain, executive vice chairman, commented: 'Acquiring Fluvitex is a critical move as it allows Indo Count to establish a fully integrated Utility Bedding business in the USA. Fluvitex's state-of-the-art manufacturing facility and its strategic location will significantly enhance our ability to serve North American customers with a broader product range. This, along with the recent Wamsutta brand acquisition, represents a key milestone in Indo Count's strategy to build a globally comprehensive Bedding portfolio.' Indo Count Industries is the largest global home textile bed linen manufacturer. The company's consolidated net profit rose 5.51% to Rs 77.80 crore on a 26.97% increase in sales to Rs 941.43 crore in Q1 FY25 over Q1 FY24. Powered by Capital Market - Live