INDIAGLYCO

India Glycols share price & financials

Price
₹957.75
Market cap
₹7.4k Cr
Sector
Fast Moving Consumer Goods
Calls analysed
8
Latest concall · Q1 FY27 · call held 14 Aug 2026

India Glycols Limited Q1 FY27

EBITDA ₹170 cr +13%EBITDA Margin 15%

What went well

  • Net revenue of INR1,130 crores, up 9% YoY.
  • Record EBITDA of INR170 crores, up 13% YoY, with EBITDA margin at 15.0% (vs 14.3% in Q1 FY26).
  • PAT up 32% YoY.

What to watch

  • Raw material availability and pricing volatility continue to be a challenge in Q2 for Ennature Bio Pharma.
  • Performance chemicals business grew 40%, which was lower than targeted due to exports suffering and prohibitively expensive raw materials.
Read the full call →

What India Glycols Limited does

India Glycols manufactures bio-based glycols, glycol ethers, bio-polymers, specialty chemicals and industrial gases via a renewable, molasses-based agro route, and operates grain-based ethanol distilleries that feed its potable spirits and biofuel businesses. Its Potable Spirits division distills, bottles and sells country liquor and Indian Made Foreign Liquor (IMFL) under its own brands and as manufacturing/bottling partner for Bacardi and Amrut Distilleries. The Ennature Biopharma division extracts plant-based active pharmaceutical ingredients (APIs), branded nutraceutical ingredients and nicotine derivatives for pharmaceutical, nutraceutical and food & beverage customers. The Bio-Fuel business supplies ethanol to oil marketing companies from its grain-based distilleries.

Segments

  • Bio-based Specialties & Performance Chemicals (BSPC)
  • Potable Spirits (PS)
  • Ennature Biopharma (EB)
  • Bio-Fuel (BF)
Manufacturing facilities
3 integrated facilities at Kashipur, Gorakhpur and Dehradun, spread over ~360 acres
Grain-based distillery capacity (Kashipur)
500 KLPD installed capacity
Bio-fuel ethanol plant capacity (Kashipur)
590 KLPD installed capacity
Distillery + ethanol capacity (Gorakhpur, combined)
310 KLPD installed capacity
New specialty chemicals plant capacity (Kashipur)
7,500 MT per annum
Export footprint
Exports to 40+ countries
Founded 1983Headquarters Kashipur, Uttarakhand (registered office); Noida, Uttar Pradesh (head office) Company website

Guidance record · Q1 FY27

what the last two calls moved 28 tracked 7 delivered 5 missed 16 open
  • Long Term Debt Repayment (FY26) delivered said Q2 FY25 Promised: INR 200 crores next year Q1 FY27: Target period has passed.
  • Long Term Debt at FY25 end missed said Q2 FY25 Promised: around INR 1,200 crores by March 31st Q1 FY27: Target period has passed.
  • Chemicals Margin Retention at risk said Q3 FY26 Promised: Retain percentage margin Q1 FY27: The demerged Chemicals entity reported an EBITDA margin of 11.6%. This is below the Q3 FY26 EBIT margin benchmark of 12.8%, indicating pressure on margins.

All 28 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 8.7%, net profit up 32.9% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue961 975 863 1,040 1,092 +14%1,102 +13%976 +13%1,130 +9%
EBITDA116 124 146 150 158 +36%175 +41%166 +14%170 +13%
Net profit50 57 64 73 65 +30%68 +19%87 +36%97 +33%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −65.7% 1Y

₹0.2k₹0.4k₹0.6k₹0.8k₹1.0k₹1.2kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 18 Nov 2025Q3 FY26 — 12 Feb 2026Q4 FY26 — 18 May 2026Q1 FY27 — 14 Aug 2026

1Y: ₹858.65 on 10 Sept 2025 → ₹294.9. High ₹1,203.3 (27 Aug 2026), low ₹236.2 (2 Sept 2026).

How the price took the results

close before → close after

Q1 FY27
+0.5%
14 Aug
Q4 FY26
−1.0%
18 May
Q3 FY26
−1.5%
12 Feb
Q2 FY26
−1.0%
18 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 16.7% a year over 3 years, FY23 to FY26. Operating margin widened to 15.4%.

Year endingFY23FY24FY25FY26
Revenue₹2.7k Cr₹3.3k Cr₹3.8k Cr₹4.2k Cr
Operating profit₹294 Cr₹403 Cr₹512 Cr₹649 Cr
Operating margin11.1%12.2%13.6%15.4%
Interest₹99 Cr₹121 Cr₹165 Cr₹167 Cr
Depreciation₹93 Cr₹101 Cr₹116 Cr₹154 Cr
Net profit₹142 Cr₹173 Cr₹231 Cr₹293 Cr
Net margin5.4%5.3%6.1%7.0%
Cash from operations₹326 Cr₹439 Cr₹362 Cr₹769 Cr
Free cash flow₹-109 Cr₹-103 Cr₹-391 Cr₹-47 Cr
ROCE8.0%11.0%12.0%12.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹31 Cr₹31 Cr₹31 Cr₹31 Cr₹31 Cr₹34 Cr
Reserves₹1.1k Cr₹1.8k Cr₹1.9k Cr₹2.0k Cr₹2.4k Cr₹2.9k Cr
Borrowings₹1.1k Cr₹1.0k Cr₹1.1k Cr₹1.3k Cr₹2.1k Cr₹1.7k Cr
Other liabilities₹1.8k Cr₹1.8k Cr₹1.8k Cr₹2.2k Cr₹1.7k Cr₹1.9k Cr
Total liabilities₹4.1k Cr₹4.6k Cr₹4.9k Cr₹5.6k Cr₹6.2k Cr₹6.5k Cr
Fixed assets₹2.2k Cr₹2.3k Cr₹2.7k Cr₹3.2k Cr₹3.8k Cr₹4.6k Cr
Capital work in progress₹126 Cr₹243 Cr₹125 Cr₹84 Cr₹267 Cr₹37 Cr
Investments₹27 Cr₹336 Cr₹318 Cr₹335 Cr₹411 Cr₹389 Cr
Other assets₹1.8k Cr₹1.7k Cr₹1.7k Cr₹2.0k Cr₹1.7k Cr₹1.5k Cr
Total assets₹4.1k Cr₹4.6k Cr₹4.9k Cr₹5.6k Cr₹6.2k Cr₹6.5k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +3.82 pp while promoters trimmed −1.39 pp. The shareholder count shrank 4% to 52,968.

Promoters
59.6%
FIIs
2.2%
DIIs
5.2%
Public
32.9%

Since Jun 2025

  • DIIs +3.82 pp
  • Promoters −1.39 pp
  • Public −1.24 pp

How it drifted, 12 quarters

Over this window DIIs went from 0.1% to 5.2% — +5.2 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 61.0%, FIIs 1.3%, DIIs 0.1%, Public 37.6%.Dec '23: Promoters 61.0%, FIIs 1.6%, DIIs 0.1%, Public 37.3%.Mar '24: Promoters 61.0%, FIIs 1.8%, DIIs 0.1%, Public 37.1%.Jun '24: Promoters 61.0%, FIIs 1.8%, DIIs 0.1%, Public 37.1%.Sep '24: Promoters 61.0%, FIIs 2.9%, DIIs 1.9%, Public 34.1%.Dec '24: Promoters 61.0%, FIIs 2.4%, DIIs 2.0%, Public 34.5%.Mar '25: Promoters 61.0%, FIIs 2.2%, DIIs 0.9%, Public 35.8%.Jun '25: Promoters 61.0%, FIIs 3.4%, DIIs 1.4%, Public 34.1%.Sep '25: Promoters 61.0%, FIIs 2.6%, DIIs 1.3%, Public 35.0%.Dec '25: Promoters 59.6%, FIIs 2.4%, DIIs 5.2%, Public 32.7%.Mar '26: Promoters 59.6%, FIIs 2.3%, DIIs 5.2%, Public 32.9%.Jun '26: Promoters 59.6%, FIIs 2.2%, DIIs 5.2%, Public 32.9%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of India Glycols Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Kashipur Holdings Limited 49.77%unchanged
Executors To The Estate Of Late Sajani Devi Bhartia 6.27%unchanged
Puneet Bhatia 1.77%unchanged
360 One Pipe Fund Mutual fund1.69%unchanged
Investor Education and Protection Fund 1.40%unchanged
Uma Shankar Bhartia 1.34%unchanged
Sukhvarsha Distributors Pvt. Ltd. 1.08%unchanged
Negen Undiscovered Value Fund AIF1.04%unchanged
Jayshree Bhartia 0.68%unchanged
Pooja Jhaver 0.29%unchanged
Hindustan Wires Limited 0.19%unchanged
Facit Commosales Private Limited 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹295, this stock must grow earnings at -8% every year for 7 years. Our analysis caps realistic growth at ~31%. At that growth it is worth ₹2251 — upside of 663%.

Growth the price implies
-7.5% a year
for 7 years, fading to 4%
It has actually compounded at
27.3% a year
net profit, FY23–FY26 · EPS 31.0%
The gap
-0.4 pp
663% downside if it only repeats history
Price today ₹294.9 Value at the reference growth ₹2,251.36

Change the assumptions yourself →

All earnings calls (8)

Read the Q1 FY27 call →

Learn to analyse India Glycols Limited

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