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    India Gelatine

    Vapi (Gujarat) based manufacturer of gelatine, ossein and DCP processed from bones and hides, supplying pharma, food, nutraceutical and cosmetics customers domestically and via exports.

    Chemicals
    Commodities

    Overview

    Price

    Market Cap

    ₹262 Cr

    Sector

    Chemicals

    Commodities

    Rank

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital77777777
    Reserves97103108129147164175186
    Borrowings000108654
    Other Liabilities1917223322172419
    Total Liabilities124127136180184195211217
    AssetsFixed Assets4340416069686161
    CWIP001421220
    Investments2834334344556866
    Other Assets5352627370718170
    Total Assets124127136180184195211217

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating576918182128
    Cash from Investing-1-3-6-8-21-8-17-23
    Cash from Financing-2-3-1-27-13-4-7
    SummaryCapital Expenditure
    Free Cash Flow2254-65920
    FCF Margin

    Valuation

    Assumptions

    Current — 531253
    Price
    ₹354
    EPS (TTM)
    ₹35.39
    PE (TTM)
    10.0
    Profit growth
    1.6%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (9.3×) and current (10.0×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹354
    vs
    Fair value · 15% return
    ₹143
    60%Overvalued

    At 1.6% growth and a 9× exit, ₹354 only delivers your return if you pay ₹143. The price is currently baking in 20% growth.

    EPS grows 1.6%/yr for 5 years, then fades to 6% over 2, exits at 9×.

    YearGrowthEPS (₹)
    FY271.6%35.96
    FY281.6%36.53
    FY291.6%37.12
    FY301.6%37.71
    FY311.6%38.31
    FY323.8% ·fade39.77
    FY336.0% ·fade42.16

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

    Learn to analyse India Gelatine

    Guides on how to read this kind of business and the numbers that matter.