India Glycols Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Potable Spirits: 70.7% • Bio-Fuel: 15.0% • Chemicals: 12.2%
AI Sector View
AI GENERATEDFast Moving Consumer Goods
Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.
PROS
- Company has delivered good profit growth of 21.8% CAGR over last 5 years
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 32.2% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.25x)
- Company has a consistent dividend-paying track record
- Attractively priced for its growth - PEG of 0.2
CONS
- Company has a low return on capital employed of 12.0%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| UNITDSPR | 1404.25 | 54.21 | 102138.24 | 1.21 | 463.00 | 11.03 | 6122.00 | -2.75 | 27.86 | 7.01 |
| RADICO | 4429.50 | 84.35 | 59347.50 | 0.20 | 229.60 | 75.91 | 5867.69 | 10.43 | 22.64 | 6.07 |
| UBL | 1267.45 | 84.71 | 33512.03 | 0.79 | 166.28 | -9.65 | 5919.44 | 10.01 | 11.92 | 4.77 |
| ABDL | 603.15 | 76.34 | 16870.72 | 0.90 | 45.42 | -18.65 | 1809.15 | 1.85 | 18.53 | 6.38 |
| TI | 529.60 | 0.00 | 13128.67 | 0.19 | 31.59 | -64.31 | 2252.43 | 160.74 | 4.31 | 7.50 |
| PICCADIL | 599.85 | 42.07 | 5912.85 | 0.17 | 21.43 | 16.30 | 270.50 | 18.78 | 18.01 | 16.20 |
| TRUALT | 420.50 | 24.29 | 3605.90 | 0.00 | 592.71 | 12444.13 | 6268.83 | 1962.85 | 10.57 | 21.18 |
| GLOBUSSPR | 849.70 | 26.59 | 2673.27 | 0.77 | 26.48 | 49.69 | 1151.88 | 21.05 | 11.34 | 6.66 |
| GMBREW | 917.40 | 13.36 | 2095.98 | 0.98 | 37.74 | — | 802.90 | 21.08 | 20.40 | 5.79 |
| INDIAGLYCO | 307.90 | 6.52 | 2063.75 | 2.44 | 96.83 | 32.19 | 2988.44 | 19.39 | 12.73 | 6.36 |
| SDBL | 71.77 | 0.00 | 1492.11 | 0.00 | 1.56 | -96.29 | 609.19 | -31.13 | 18.52 | 2.46 |
| ASALCBR | 685.90 | 16.67 | 1377.23 | 0.29 | 178.31 | 653.99 | 2863.03 | 959.58 | 18.06 | 10.43 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,894 | 1,870 | 2,119 | 2,039 | 2,283 | 2,144 | 2,424 | 2,189 | 2,503 | 2,412 | 2,551 | 2,360 | 2,988 | |
| 1,794 | 1,774 | 2,017 | 1,934 | 2,157 | 2,028 | 2,300 | 2,043 | 2,353 | 2,255 | 2,376 | 2,194 | 2,887 | |
| Operating Profit | 100 | 96 | 102 | 105 | 126 | 116 | 124 | 146 | 150 | 158 | 175 | 166 | 102 |
| OPM % | 5.28% | 5.11% | 4.83% | 5.13% | 5.50% | 5.40% | 5.10% | 6.67% | 5.98% | 6.53% | 6.88% | 7.06% | 3.41% |
| 6 | 11 | 5 | 5 | 3 | 4 | 6 | 2 | 1 | 2 | -0 | 1 | 0 | |
| Interest | 28 | 29 | 31 | 33 | 36 | 40 | 44 | 45 | 45 | 49 | 47 | 26 | 25 |
| Depreciation | 21 | 28 | 26 | 26 | 28 | 28 | 27 | 33 | 34 | 38 | 41 | 41 | 42 |
| Profit before Tax | 58 | 49 | 49 | 51 | 65 | 53 | 58 | 70 | 72 | 72 | 87 | 99 | 123 |
| Tax % | 21.80% | 24.56% | 24.94% | 26.48% | 23.52% | 26.12% | 25.22% | 25.24% | 24.03% | 25.75% | 26.38% | 25.71% | 21.20% |
| Net Profit | 0 | 0 | 0 | 0 | 60 | 50 | 57 | 64 | 73 | 65 | 68 | 87 | 97 |
| 16.52 | 12.27 | 13.45 | 13.63 | 19.50 | 8.03 | 9.17 | 10.34 | 23.66 | 10.51 | 10.79 | 13.64 | 14.45 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,500 | 3,034 | 3,357 | 2,735 | 2,317 | 2,868 | 2,651 | 3,294 | 3,768 | 4,211 | 10,312 | |
| 2,310 | 2,813 | 2,945 | 2,462 | 2,052 | 2,745 | 2,355 | 2,892 | 3,257 | 3,562 | 9,710 | |
| Operating Profit | 190 | 222 | 411 | 274 | 265 | 123 | 296 | 402 | 511 | 649 | 602 |
| OPM % | 7.59% | 7.31% | 12.25% | 10.01% | 11.44% | 4.30% | 11.15% | 12.22% | 13.56% | 15.42% | 5.83% |
| 60 | 131 | 29 | 17 | 21 | 378 | 55 | 29 | 16 | 5 | 3 | |
| Interest | 133 | 131 | 150 | 100 | 87 | 73 | 103 | 123 | 166 | 168 | 148 |
| Depreciation | 72 | 73 | 76 | 78 | 80 | 80 | 94 | 101 | 115 | 155 | 163 |
| Profit before Tax | 45 | 147 | 213 | 113 | 120 | 369 | 165 | 223 | 292 | 377 | 382 |
| Tax % | 22.11% | 34.41% | 37.77% | 33.60% | 9.36% | 10.68% | 14.52% | 22.53% | 21.00% | 22.39% | 24.42% |
| Net Profit | 35 | 97 | 133 | 75 | 109 | 330 | 141 | 173 | 231 | 293 | 289 |
| EPS | 11.32 | 31.18 | 42.83 | 37.03 | 42.51 | 109.77 | 45.55 | 55.87 | 74.58 | 43.68 | — |
| Dividend Payout % | 8.84% | 12.83% | 14.01% | 16.20% | 14.12% | 6.83% | 18.56% | 14.32% | 13.41% | 17.17% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 6%
- 5 Years:
- 13%
- 3 Years:
- 17%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 17%
- 3 Years:
- 33%
STOCK PRICE CAGR
- 10 Years:
- 19%
- 5 Years:
- -2%
- 3 Years:
- -6%
- 1 Year:
- -64%
RETURN ON EQUITY
- 10 Years:
- 11%
- 5 Years:
- 12%
- 3 Years:
- 10%
- Last Year:
- 11%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 34 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | -19 | 0 | 0 | 0 | 0 |
| 721 | 814 | 932 | 1,003 | 1,138 | 1,761 | 1,870 | 2,020 | 2,225 | 2,899 | |
| 1,629 | 1,287 | 1,380 | 1,316 | 1,434 | 1,267 | 1,272 | 1,135 | 1,599 | 1,455 | |
| Trade Payables | 579 | 781 | 743 | 722 | 581 | 642 | 752 | 1,099 | 979 | 788 |
| 533 | 509 | 699 | 1,014 | 936 | 950 | 933 | 1,331 | 1,342 | 1,347 | |
| Total Liabilities | 3,492 | 3,421 | 3,784 | 4,086 | 4,119 | 4,631 | 4,858 | 5,617 | 6,176 | 6,523 |
| 2,110 | 2,155 | 2,165 | 2,220 | 2,185 | 2,310 | 2,709 | 3,198 | 3,827 | 4,553 | |
| Capital Work in Progress | 91 | 89 | 137 | 172 | 126 | 243 | 125 | 84 | 98 | 37 |
| 25 | 24 | 21 | 26 | 27 | 336 | 318 | 335 | 381 | 389 | |
| 518 | 448 | 647 | 682 | 610 | 693 | 754 | 1,106 | 1,171 | 891 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 384 | 365 | 351 | |
| Cash & Bank | 29 | 59 | 116 | 92 | 98 | 102 | 113 | 138 | 77 | 50 |
| 718 | 646 | 698 | 894 | 1,074 | 947 | 839 | 371 | 256 | 253 | |
| Total Assets | 3,492 | 3,421 | 3,784 | 4,086 | 4,119 | 4,631 | 4,858 | 5,617 | 6,176 | 6,523 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 300 | 503 | 152 | 333 | 99 | 112 | 376 | 439 | 362 | 769 | |
| Cash from Investing | -40 | -103 | -128 | -151 | -148 | 76 | -330 | -503 | -736 | -767 |
| Cash from Financing | -263 | -399 | 3 | -216 | 11 | -189 | -1 | 90 | 354 | 23 |
| -1 | -0 | 22 | -23 | -0 | 4 | -5 | 25 | -20 | 25 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - India Glycols Limited has informed the Exchange regarding 'Material Update in Connection with Ennature Bio Pharma Limited'.
2026-09-08 - India Glycols Limited has informed the Exchange regarding 'Material Update in Connection with IGL Spirits Limited'.
2026-09-07 - India Glycols Limited has informed the Exchange regarding 'Intimation of Schedule of Analyst / Institutional Investor Meeting.'.
2026-09-07 - India Glycols Limited has informed the Exchange regarding 'Material Update in Connection with Ennature Bio Pharma Limited with reference to Observation letter no. NSE/LIST/48932 dated 17th November, 2025 and no. DCS/AMAL/TS/R37/3905/2025-26 dated 19th November, 2025 ("Observation Letters"), issued by the National Stock Exchange of India Limited and BSE Limited (collectively the "Stock Exchanges"), respectively, received in relation to the Scheme of Arrangement.'.
2026-09-07 - India Glycols Limited has informed the Exchange regarding 'Material Update in Connection with IGL Spirits Limited with reference to Observation letter no. NSE/LIST/48932 dated 17th November, 2025 and no. DCS/AMAL/TS/R37/3905/2025-26 dated 19th November, 2025 ("Observation Letters"), issued by the National Stock Exchange of India Limited and BSE Limited (collectively the "Stock Exchanges"), respectively, received in relation to the Scheme of Arrangement.'.
2026-09-02 - India Glycols Limited has informed the Exchange about Investor Presentation
2026-09-02 - India Glycols Limited has informed the Exchange about Investor Presentation
2026-09-02 - India Glycols Limited has informed the Exchange about Investor Presentation
2026-09-02 - India Glycols Limited has informed the Exchange about Investor Presentation
News
Recent coverage and analyst commentary for INDIAGLYCO
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