ICC Industries Limited Returns to Profitability in FY2026 as Revenue Rises to Rs65.23 Million

ICC Industries Limited has reported a significant improvement in its financial performance for the financial year ended June 30, 2026, returning to profitability after recording a loss in the previous year. The company’s latest financial statements show higher revenue, improved operating performance and a substantial increase in cash and bank balances.

According to the company’s financial results, revenue increased to Rs65.23 million in FY2026, compared with Rs50.15 million in FY2025, representing growth of approximately 30.1%. The increase in revenue was accompanied by a gross profit of Rs30.51 million, slightly higher than Rs30.06 million recorded in the preceding year.

Company Returns to Profitability

ICC Industries posted an operating profit of Rs15.65 million for FY2026, reversing an operating loss of Rs10.08 million in FY2025. The improvement was supported by higher revenue, lower administrative expenses and increased other income.

Administrative expenses declined to Rs29.14 million from Rs37.63 million in the previous financial year. Other expenses also decreased to Rs1.25 million from Rs2.50 million, helping improve the company’s overall operating performance.

Other income rose sharply to Rs15.53 million in FY2026, compared with just Rs829,000 a year earlier. This increase contributed significantly to the company’s return to profitability.

After accounting for finance costs and levies, the company reported a profit before taxation of Rs15.13 million, compared with a loss before taxation of Rs5.96 million in FY2025.

Net Profit Reaches Rs9.62 Million

The company’s profit after taxation stood at Rs9.62 million for the year ended June 30, 2026, compared with a net loss of Rs16.54 million in the previous year.

Earnings per share also improved, reaching Rs0.32 against a loss per share of Rs0.55 in FY2025. The turnaround marks a notable improvement in the company’s reported financial results.

Total comprehensive income for the year amounted to Rs15.90 million, compared with a comprehensive loss of Rs16.13 million in FY2025. The current-year figure includes actuarial gains on employee benefit obligations and a revaluation surplus on machinery, in addition to the reported profit.

Asset Base and Cash Position Strengthen

ICC Industries’ total assets increased to Rs1.25 billion as of June 30, 2026, compared with Rs1.23 billion a year earlier.

Property and equipment stood at approximately Rs1.20 billion, while current assets increased significantly to Rs46.01 million from Rs15.14 million in FY2025.

Cash and bank balances rose to Rs18.56 million at the end of the financial year, compared with Rs3.14 million in the previous year. This improvement was supported by stronger cash generation from operating activities.

The company generated net cash of Rs15.75 million from operating activities during FY2026, reversing an outflow of approximately Rs662,000 in FY2025. Cash used in investing activities amounted to Rs327,533, primarily reflecting payments for the acquisition of property and equipment.

Equity Records Further Growth

Total shareholders’ equity increased to Rs911.65 million at the end of FY2026, compared with Rs895.75 million in the previous year. The improvement reflected the company’s return to profitability and changes in other comprehensive income.

Total liabilities stood at Rs339.08 million, compared with Rs333.98 million a year earlier. Current liabilities increased to Rs308.54 million from Rs285.97 million, while non-current liabilities declined to Rs30.54 million from Rs48.01 million.

The company’s financial position reflects improvements in profitability and cash generation, although its current liabilities and overall cost structure remain important areas to monitor.

Outlook

ICC Industries Limited’s FY2026 results indicate a substantial recovery from the losses reported in the previous financial year. Revenue growth, reduced administrative expenses, higher other income and improved operating cash flow contributed to the turnaround.

However, the sustainability of this recovery will depend on the company’s ability to maintain revenue growth, manage expenses and generate consistent profits in future periods. Investors will also be watching whether the company can strengthen its core operating performance and maintain its improved cash position.

Overall, the financial statements for FY2026 highlight a return to profitability and stronger cash generation, providing a more positive financial picture than the previous year.