Indo Count Industries Ltd
NSE:ICIL
Indo Count Industries Ltd
Indo Count Industries Ltd. engages in the manufacturing and export of bedding, quilts, pillows, sleeping bags; and offers preparation and spinning of cotton fibers. The company is headquartered in Mumbai, Maharashtra. The firm is involved in the manufacture of bedding, quilts, pillows, sleeping bags, and preparation and spinning of cotton fibers, including blended cotton. The firm's product offering comprises premium products including bed sheets, fashion bedding, utility bedding and institutional bedding. The firm also manufactures and exports bed sheets, bed linen and quilts. The firm's brands include Wholistic, Sleep Rx, Pure Earth, Boutique Living, Layers, Revival, Pure Collection, Haven, Simply-put and Color Sense. The company also sells products online through e-retailers. The firm has manufacturing factories located in Kolhapur, Maharashtra.
Indo Count Industries Ltd. engages in the manufacturing and export of bedding, quilts, pillows, sleeping bags; and offers preparation and spinning of cotton fibers. The company is headquartered in Mumbai, Maharashtra. The firm is involved in the manufacture of bedding, quilts, pillows, sleeping bags, and preparation and spinning of cotton fibers, including blended cotton. The firm's product offering comprises premium products including bed sheets, fashion bedding, utility bedding and institutional bedding. The firm also manufactures and exports bed sheets, bed linen and quilts. The firm's brands include Wholistic, Sleep Rx, Pure Earth, Boutique Living, Layers, Revival, Pure Collection, Haven, Simply-put and Color Sense. The company also sells products online through e-retailers. The firm has manufacturing factories located in Kolhapur, Maharashtra.
Revenue Growth: Total income for Q2 FY '26 was INR 1,882 crores, up 12% quarter-on-quarter, driven by new business and core volume growth.
Tariff Headwinds: U.S. tariffs (50%) imposed in late August 2025 are impacting margins but Indo Count has maintained market share and avoided major order cancellations.
Margin Pressure: EBITDA margin declined to 11.4% from 12.3% in Q1, with management expecting further pressure through year-end due to tariffs and product mix.
Brand Expansion: Signed a new licensing agreement with Tommy Hilfiger (sixth licensed brand), and Wamsutta relaunch in the U.S. saw strong early traction with sales in all 50 states.
Strong New Business: Utility bedding and U.S. branded segments now contribute 17% of revenue (up from 13% last quarter), with a current annual run rate of $85 million.
Guidance Reiterated: Management reiterated its 2028 guidance of $275 million revenue from utility bedding and U.S. brand business.
CapEx Update: INR 200 crore CapEx planned for FY '26, mainly for the North Carolina facility, which is now expected to be operational in late Q3 or early Q4 FY '26.
Domestic Momentum: Domestic market is improving, with successful festive campaigns and retail expansion (700 new counters added in Q2).
