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International Conveyors Acquires 3.6 Lakh Shares of Religare Enterprises for ₹7.50 Crore
International Conveyors Limited has acquired 3,60,000 equity shares of Religare Enterprises Limited (REL) for a total cash consideration of ₹7.50 crore. The acquisition is intended for investment purposes and was completed on February 25, 2026. Religare Enterprises is a large financial services group with a FY 2024-25 turnover of ₹7,354.236 crore. This transaction does not involve any related party interests and was conducted at arm's length.
Key Highlights
Acquired 3,60,000 equity shares of Religare Enterprises Limited for ₹7.50 crore
Target entity REL reported a significant turnover growth to ₹7,354.236 crore in FY 2024-25
The acquisition is a pure cash consideration for investment purposes
No promoter or group company interest involved in the target entity
Religare Enterprises operates in SME loans, housing finance, health insurance, and capital markets
💼 Action for Investors
Investors should view this as a strategic deployment of surplus cash into a diversified financial services player. Monitor the market value of Religare Enterprises as it will impact the company's non-current investment valuations.
International Conveyors acquires 100% of Australian subsidiary for INR 35,548
International Conveyors Limited (ICL) has acquired the entire share capital of its step-down subsidiary, International Conveyors Australia Pty Ltd, from its other subsidiary, Conveyor Holding Pvt. Ltd. This internal restructuring makes the Australian entity a direct subsidiary for a nominal cash consideration of INR 35,548. The target entity focuses on marketing PVC conveyor belting to Australian coal miners, though its turnover has declined from ₹11.36 Cr in FY23 to ₹4.51 Cr in FY25. The company expects this direct ownership to improve its reach and top-line growth in the Australian market.
Key Highlights
Acquisition of 100% stake (100 shares) for a total cash consideration of INR 35,548
Target entity's turnover decreased significantly from ₹11.36 Cr in FY23 to ₹4.51 Cr in FY25
The move converts a step-down subsidiary into a direct wholly-owned subsidiary to improve market reach
Strategic focus remains on the Australian coal mining market, one of the world's largest producers
💼 Action for Investors
As this is an internal restructuring with a negligible cost, it has no immediate impact on consolidated financials. Investors should monitor the Australian segment's performance to see if direct management can arrest the declining revenue trend.
International Conveyors Q3 PAT Jumps 48% YoY to ₹29.68 Cr; Revenue Up 35%
International Conveyors Limited (INTLCONV) reported a strong performance for Q3 FY26, with consolidated revenue from operations rising 35.4% YoY to ₹35.34 crore. Net profit for the quarter saw a significant jump of 48.4% YoY, reaching ₹29.68 crore compared to ₹20.00 crore in the same period last year. While the core conveyor belt segment showed growth, the company's bottom line remains heavily influenced by its investment segment, which contributed ₹32.82 crore to the results. For the nine-month period, however, PAT is down 18% YoY due to exceptionally high other income in the previous year.
Key Highlights
Consolidated Revenue from Operations grew 35.4% YoY to ₹35.34 crore in Q3 FY26.
Net Profit (PAT) increased by 48.4% YoY to ₹29.68 crore from ₹20.00 crore.
Investment segment remains a primary profit driver, contributing ₹32.82 crore to quarterly results.
Conveyor Belts segment revenue rose to ₹32.33 crore in Q3 FY26 from ₹23.99 crore in Q3 FY25.
Company allotted 4,02,000 equity shares under ESOP 2020, slightly diluting promoter holding to 49.71%.
💼 Action for Investors
Investors should note the strong quarterly growth in the core conveyor belt business, but remain cautious about the high sensitivity of earnings to the company's investment portfolio performance. The stock is suitable for those tracking industrial infrastructure growth with an appetite for investment-led income volatility.