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India Gelatine & Chemicals Ltd (INDGELA) · mywealthgrid

India Gelatine & Chemicals Ltd

BSE:INDGELA

MaterialsChemicals & Petrochemicals

₹369.4

-4%1 Oct close

Mkt cap

₹262 Cr

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About

India Gelatine & Chemicals is a small specialty chemicals manufacturer with ₹288 Cr market cap and quarterly revenue of ₹28–42 Cr. The company operates in the Materials sector, focused on gelatine and specialty chemicals, with minimal debt (D/E 0.03). After a loss in Mar 2020, it has returned to profitability with operating margins normalized to 10.66%.

Face value: ₹10

Market cap

₹262 Cr

P/E

36.9×

P/B

1.4×

Dividend yield

ROE

13.8%

ROCE

17.1%

Debt / equity

0.02

OPM

17.2%

EPS (TTM)

₹10.0

Book value

₹273.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin volatility: OPM swung from −4.51% (Mar 2020) to +10.37% (Dec 2019), currently 10.66%; verify exposure to input costs and pricing power
Small scale: Quarterly revenue ₹28–42 Cr limits scale economies and customer/supplier negotiating leverage
PE-ROE mismatch: PE 40.55 against ROE 10.68% suggests expensive valuation; verify earnings growth assumptions priced in
Institutional ownership minimal: FII 0% and DII 0.01%; verify liquidity depth and analyst coverage vs. promoter's 69% holding

Generated analysis · source review pending

Growth drivers

Margin recovery durability: OPM normalized to 10.66% from −4.51% (Mar 2020); verify if operational improvements are sustainable and can compound
Debt capacity for investments: D/E 0.03 very low; verify if capex or M&A plans exist to deploy balance-sheet strength
Specialty chemicals demand: quarterly revenue ₹28–42 Cr leaves room for market-share gains; verify if pharma, food, industrial end-markets are growing

Generated analysis · source review pending

2,154 historical price candles were omitted because the exchange source has not been verified.

₹369.4-3.1%1Y

Quick read

rule-based

Pros

+Profit CAGR of 28.7% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 67.6×
+Dividend yield of 3%
+High promoter holding of 69.1% with no pledge

Cons

−Modest revenue growth of 3.4% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

42/100

Business quality: 63
Growth: 19
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	94	76	97	112	132	144	160	205	206	199	170
COGS	-40	-41	-43	-50	59	79	82	85	87	97	71
Gross profit	—	—	—	—	73	65	78	120	119	101	99
	130	117	140	156	66	57	70	86	83	80	70
	4	-0	-0	5	7	8	7	33	35	21	29
OPM %	4.7%	-0.4%	-0.1%	4.9%	5%	5.9%	4.6%	16.3%	17%	10.7%	17.2%
Depreciation	5	—	—	3	3	4	4	4	5	6	5
Interest	—	—	—	—	0	0	0	1	1	1	0
	5	6	4	4	3	5	4	3	8	8	8
Profit before tax	5	3	3	6	6	9	7	32	37	23	33
Tax	1	-0	0	-0	1	2	2	8	9	5	8
Tax %	22.6%	-5.5%	16.3%	-1.4%	16.4%	23.4%	23.6%	25.5%	23.8%	23.2%	23.4%
	4	3	2	6	5	7	6	24	28	17	25
PAT margin %	3.9%	3.8%	2.3%	5.1%	4.1%	4.9%	3.5%	11.7%	13.8%	8.8%	14.8%
EPS (₹)	3.9	3.1	3.3	8.1	7.6	10	7.9	33.7	40	24.5	35.4
EPS adjusted (₹)	—	—	—	8.1	7.6	10	7.9	33.7	40	24.5	35.4
	23.1%	29.5%	61%	43.1%	19.9%	24.9%	31.6%	14.8%	27.5%	20.4%	17%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	7	7	7	7	7	7	7	7
Reserves	—	97	103	108	129	147	164	186
Minority interest	—	—	—	0	0	—	—	—
	—	0	0	0	10	8	6	4
	—	19	17	22	33	22	17	19
Total equity & liabilities	—	124	127	136	180	184	195	217
	42	43	40	41	60	69	68	61
CWIP	—	0	0	1	4	2	1	20
Investments	—	29	34	33	43	44	55	66
	—	52	52	62	73	70	71	70
Total assets	—	124	127	136	180	184	195	217

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5	7	6	9	18	18	21	37
	-1	-3	-6	-8	-21	-8	-17	-32
	-2	-3	-1	-2	7	-13	-4	-7
Net cash flow	2	1	-1	-1	3	-3	-0	-2
Free cash flow	2	2	4	4	-6	3	9	21
CFO / Operating profit %	90.6%	114.4%	72.8%	121.5%	53.4%	52.5%	99.3%	124.9%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	55.2%	45.4%	48.5%	58.4%	57.6%	51.1%	58.2%
EBITDA margin %	4.9%	5%	5.9%	4.6%	16.3%	17%	10.7%	17.2%
EBIT margin %	1.9%	2.4%	3.3%	2.3%	14.4%	14.5%	7.9%	14.6%
PAT margin %	5.1%	4.1%	4.9%	3.5%	11.7%	13.8%	8.8%	14.8%
Working capital
Receivable days	—	18	24	26	25	22	22	21
Inventory days	—	178	129	130	176	182	136	182
Payable days	—	52	25	36	60	41	19	20
NWC days	—	144	127	120	140	164	139	183
Leverage
Current ratio	—	6.56	9.74	6.57	3.88	5.89	8.83	8.91
Debt to EBITDA	—	0	0	0	0.3	0.22	0.27	0.14
Debt to equity	—	0	0	0	0.07	0.05	0.03	0.02
Interest coverage	—	41.1	55.6	39.7	50.3	51.4	34.3	67.6
Asset turnover	—	1.07	1.14	1.17	1.14	1.12	1.02	0.78
Return ratios
Return on assets %	—	4.3%	5.6%	4.1%	13.3%	15.4%	8.9%	11.6%
Return on capital employed %	—	5.8%	8.1%	6.2%	23.4%	23.4%	13.2%	17.1%
Return on equity %	—	5.1%	6.5%	4.9%	17.5%	18.4%	10.1%	13%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	61.44%	61.44%	61.44%	61.44%	61.44%	47.34%	61.48%	69.05%	69.05%	69.05%	69.05%	69.05%
FII	0%	0%	0%	0%	0%	0%	0.62%	0%	0%	0%	0%	0%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.03%	0.79%	0.01%	0.01%	0.01%	0.01%	0.01%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	38.55%	38.55%	38.55%	38.55%	38.55%	52.63%	37.11%	30.94%	30.94%	30.94%	30.94%	30.94%
No. of shareholders	—	—	—	—	—	—	—	—	6,395	6,248	6,153	6,007

Promoter holding up 7.61 percentage points since Sep 2023.

2 deals · 5 Dec 2024 – 5 Dec 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
5 Dec 2024	NARMADA GELATINES LIMITED	Bulk	BSE	Buy	10,03,000	₹408.86	₹41.01 Cr
5 Dec 2024	OLIVE SPECIALITY SERVICES LLP .	Bulk	BSE	Sell	10,00,000	₹408.88	₹40.89 Cr

1–2 of 2

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Annamalai SankaralingamNon-Executive - Non Independent Director-Chairperson
Mr. Maheswaran SankaralingamNon-Executive - Non Independent Director
Mr. Balasubramanian VijayaduraiNon-Executive - Independent Director
Mr. Kaliappan BalakrishnanNon-Executive - Independent Director
Mr. Niranjan Sankar AnnamalaiNon-Executive - Non Independent Director
Mrs. Shivavel Ezhil JothiNon-Executive - Independent Director
Mr. Uppili Rajan BabuNon-Executive - Independent Director
Mr. P.VelmuruganExecutive Director
Mr. Valan Raja NadarChief Financial Officer
Ms. Sejal Anup ShahCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in India Gelatine & Chemicals Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

45 announcementsExport CSV

26 Aug 2026, 2:55 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

25 Aug 2026, 1:03 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

11 Aug 2026, 12:06 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

10 Aug 2026, 3:03 pmResult

Un-Audited Financial Results For The Quarter Ended 30Th June 2026.

Financial Results PDF

10 Aug 2026, 2:55 pmBoard Meeting

Board Meeting Outcome for Outcome Of Board Meeting Held On 10Th August 2026.

Outcome of Board Meeting PDF

31 Jul 2026, 3:54 pmCompany Update

Dispatch Of Letter To Shareholders Whose E-Mail Addresses Are Not Registered With Company/Registrar & Transfer Agent/Depository Participants.

General PDF

31 Jul 2026, 12:46 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

30 Jul 2026, 12:06 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
26 Aug 2026, 2:55 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
25 Aug 2026, 1:03 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	55.2%	45.4%	48.5%	58.4%	57.6%	51.1%	58.2%
EBITDA margin %	4.9%	5%	5.9%	4.6%	16.3%	17%	10.7%	17.2%
EBIT margin %	1.9%	2.4%	3.3%	2.3%	14.4%	14.5%	7.9%	14.6%
PAT margin %	5.1%	4.1%	4.9%	3.5%	11.7%	13.8%	8.8%	14.8%
Working capital
Receivable days	—	18	24	26	25	22	22	21
Inventory days	—	178	129	130	176	182	136	182
Payable days	—	52	25	36	60	41	19	20
NWC days	—	144	127	120	140	164	139	183
Leverage
Current ratio	—	6.56	9.74	6.57	3.88	5.89	8.83	8.91
Debt to EBITDA	—	0	0	0	0.3	0.22	0.27	0.14
Debt to equity	—	0	0	0	0.07	0.05	0.03	0.02
Interest coverage	—	41.1	55.6	39.7	50.3	51.4	34.3	67.6
Asset turnover	—	1.07	1.14	1.17	1.14	1.12	1.02	0.78
Return ratios
Return on assets %	—	4.3%	5.6%	4.1%	13.3%	15.4%	8.9%	11.6%
Return on capital employed %	—	5.8%	8.1%	6.2%	23.4%	23.4%	13.2%	17.1%
Return on equity %	—	5.1%	6.5%	4.9%	17.5%	18.4%	10.1%	13%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Gujarat Fluorochemicals LimitedFLUOROCHEMFLUOROCHEM	₹47,713 Cr	₹49,912 Cr	₹5,303 Cr	₹1,375 Cr	25.8%	₹615 Cr	11.5%	11.1%	7.6%	401
Navin Fluorine International LimitedNAVINFLUORNAVINFLUOR	₹41,740 Cr	₹42,967 Cr	₹3,634 Cr	₹1,232 Cr	32.6%	₹790 Cr	20%	21.6%	20.1%	61
Aether Industries LimitedAETHERAETHER	₹22,161 Cr	₹22,603 Cr	₹1,224 Cr	₹384 Cr	31.3%	₹235 Cr	19.8%	13.2%	9.4%	330
Atul LimitedATULATUL	₹17,231 Cr	₹17,411 Cr	₹6,643 Cr	₹1,189 Cr	16.4%	₹704 Cr	11%	14.1%	11.5%	70
Aarti Industries LimitedAARTIINDAARTIIND	₹16,869 Cr	₹21,790 Cr	₹9,012 Cr	₹1,337 Cr	14.1%	₹531 Cr	5.1%	8.8%	7.3%	54
Fine Organic Industries LimitedFINEORGFINEORG	₹15,752 Cr	₹15,797 Cr	₹2,472 Cr	₹535 Cr	20.4%	₹438 Cr	17.6%	21.6%	16.8%	113
Basf India LimitedBASFBASF	₹14,796 Cr	₹14,796 Cr	₹16,177 Cr	₹952 Cr	4.4%	₹643 Cr	2.8%	14%	11.1%	40
Privi Speciality Chemicals LimitedPRIVISCLPRIVISCL	₹13,970 Cr	₹14,980 Cr	₹2,671 Cr	₹666 Cr	25.2%	₹342 Cr	12.4%	27.7%	25.2%	158
Sudeep Pharma LimitedSUDEEPPHRMSUDEEPPHRM	₹13,546 Cr	₹13,694 Cr	₹676 Cr	₹233 Cr	34.6%	₹133 Cr	27.1%	31.1%	25.2%	366
Anupam Rasayan India LimitedANURASANURAS	₹13,243 Cr	₹15,058 Cr	₹2,535 Cr	₹563 Cr	22.2%	₹175 Cr	9.4%	9.1%	5.5%	377
Vinati Organics LimitedVINATIORGAVINATIORGA	₹12,528 Cr	₹12,528 Cr	₹2,381 Cr	₹665 Cr	29.4%	₹448 Cr	19.9%	18.8%	14.9%	152
Elantas Beck India LimitedELANTASELANTAS	₹10,644 Cr	₹10,644 Cr	₹778 Cr	₹147 Cr	20.3%	₹136 Cr	17.4%	20.6%	15.8%	70

India Gelatine & Chemicals Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

20

1

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Return on equity

India Gelatine & Chemicals Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

No fund holdings on record

Dividends20

Board meetings1

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

20

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