ICC Industries Limited has reported an increase in revenue and improved financial performance for the first quarter ended September 30, 2026, compared with the corresponding period last year.
According to the company’s latest financial statements, revenue increased to Rs18.85 million during July–September 2026, compared with Rs15.83 million in the same period of 2025, representing growth of approximately 19.1%.
The company’s gross profit also improved slightly to Rs11.05 million, against Rs10.92 million in the corresponding quarter last year. However, direct costs increased to Rs7.80 million from Rs4.91 million, putting pressure on the company’s gross profit margin.
Administrative expenses stood at Rs7.48 million, compared with Rs7.40 million in the same period last year. Meanwhile, other expenses declined to Rs251,504 from Rs300,763, providing some relief to overall operating expenses.
ICC Industries recorded an operating profit of Rs3.32 million during the quarter, compared with Rs3.22 million in the corresponding period last year. Profit before taxation increased to Rs3.26 million from Rs3.17 million.
After accounting for taxation of Rs1.60 million, the company’s reported bottom-line figure was Rs1.65 million, compared with Rs1.77 million in the same quarter last year. Basic and diluted earnings per share remained unchanged at Rs0.06.
Financial Position Remains Stable
The company’s financial position showed a modest improvement during the quarter. Total assets stood at Rs1.25 billion as of September 30, 2026, compared with Rs1.25 billion at the end of June 2026.
Non-current assets amounted to Rs1.20 billion, primarily comprising property, plant and equipment. Current assets increased to Rs49.93 million from Rs46.01 million, supported by an increase in trade debts and cash balances.
Cash and bank balances reached Rs18.71 million at the end of September 2026, compared with Rs18.56 million at the end of June 2026.
On the liabilities side, current liabilities decreased slightly to Rs306.39 million from Rs308.54 million, while directors’ unsecured loans remained unchanged at Rs761.33 million.
Operating Cash Flow Turns Positive
Another positive development was the improvement in operating cash flow. ICC Industries generated net cash of Rs151,300 from operating activities during the quarter, compared with a net cash outflow of Rs765,195 in the corresponding period last year.
The improvement indicates better cash generation from operations, although the overall amount remained relatively modest.
Outlook
ICC Industries’ first-quarter results reflect growth in revenue and a slight improvement in operating profitability. However, the decline in reported after-tax earnings highlights the impact of higher direct costs and taxation on the company’s bottom line.
Going forward, managing production and direct costs, improving operating efficiency and strengthening cash generation will remain important factors in supporting the company’s financial performance.
Investors will be watching the company’s upcoming financial results to assess whether its revenue growth can translate into stronger profitability in the remaining quarters of FY2027.
