India Glycols Limited (INDIAGLYCO)

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India Glycols Limited (INDIAGLYCO) · mywealthgrid

About

India Glycols Limited operates in Breweries & Distilleries within Consumer Staples, commanding a ₹7,109 Cr market cap with quarterly standalone revenues consistently in the ₹2,400–3,000 Cr range. The company reports an ROE of 11.28%, trades at PE 22.47, and has delivered 20.03% shareholder return over the past year through capital appreciation and regular dividends.

Face value: ₹5

Market cap

₹2,002 Cr

P/E

6.3×

P/B

0.7×

Dividend yield

4.2%

ROE

11.3%

ROCE

11.9%

Debt / equity

0.54

OPM

6.6%

EPS (TTM)

₹47.2

Book value

₹437.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins compressed from 7.06% in March 2026 to 5.67% in June 2026; verify whether this reflects seasonal factors, input cost pressures, or structural headwinds in demand or competition.
Net profit per share shows high quarterly volatility (EPS ranged ₹8.71 to ₹17.31 in recent quarters), which a researcher should trace to either revenue swings, margin fluctuation, or share count changes.
PE of 22.47 prices in meaningful growth; verify whether recent revenue stability and margin compression support this valuation.
Debt-to-Equity of 0.54 represents moderate leverage; verify interest-coverage ratios and refinancing risks in a rising-rate environment.

Generated analysis · source review pending

Growth drivers

Quarterly revenues rose to ₹2,987 Cr in June 2026 from ₹2,360 Cr in March 2026; verify whether this ₹627 Cr sequential increase reflects sustained seasonal demand, volume growth, or one-time factors.
Regular dividend distributions (March 2026, September 2025, August 2024) indicate consistent cash generation; verify the payout ratio and whether retained earnings are being reinvested to expand capacity or market reach.
ROE of 11.28% paired with D/E of 0.54 suggests modest but stable returns on moderate leverage; verify whether competitive positioning or operational efficiency is improving to drive returns higher.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹298.8-1.9%1Y

Quick read

rule-based

Pros

+Profit CAGR of 17.3% over the last 5 years
+Dividend yield of 4.2%
+Dividend payout of 26.5% of profit

Cons

−Low return on equity of 10.3% (3-yr avg)
−Thin operating margin of 6.6%

Research score

Structured signal from quality, growth, valuation and momentum.

71/100

Business quality: 28
Growth: 84
Valuation: 100

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.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

Screen this industry

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Financials

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

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3,609	4,162	5,973	5,427	6,601	6,642	7,922	9,039	9,827
COGS	1,621	1,963	2,328	1,499	1,921	1,582	2,149	2,408	2,662
Gross profit	1,989	2,199	3,644	3,928	4,680	5,059	5,773	6,631	7,165
	1,752	1,876	3,253	3,660	4,404	4,752	5,354	6,074	6,469
	236	324	392	269	276	307	419	557	696
OPM %	6.6%	7.8%	6.6%	5%	4.2%	4.6%	5.3%	6.2%	7.1%
Depreciation	72	73	83	80	80	94	101	115	155
Interest	127	125	143	83	70	100	121	164	167
	8	23	9	38	253	52	26	15	4
Profit before tax	45	148	174	143	379	165	223	292	377
Tax	—	—	59	11	39	24	50	61	84
Tax %	—	—	34.1%	7.9%	10.4%	14.5%	22.5%	21%	22.4%
	35	97	115	132	340	141	173	231	293
PAT margin %	1%	2.3%	1.9%	2.4%	5.2%	2.1%	2.2%	2.6%	3%
EPS (₹)	—	—	37	42.5	109.8	45.6	55.9	74.6	46
EPS adjusted (₹)	5.7	15.6	18.5	21.3	54.9	20.2	27.9	37.3	43.7
	—	—	16.2%	14.1%	6.8%	16.5%	14.3%	6.7%	—
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	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 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
Reserves	721	814	932	—	1,138	1,761	1,870	2,020	2,225	2,899
	945	751	863	—	1,123	1,040	1,094	1,321	1,804	1,578
	1,795	1,825	1,959	—	1,828	1,799	1,863	2,245	2,116	2,012
Total equity & liabilities	3,492	3,421	3,784	—	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
CWIP	91	89	137	—	126	243	125	84	98	37
Investments	25	24	21	—	35	344	326	342	383	391
	1,266	1,153	1,461	—	1,774	1,734	1,698	1,993	1,867	1,543
Total assets	3,492	3,421	3,784	—	4,119	4,631	4,858	5,617	6,176	6,523

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Potable Spirits	6,946.43	284.93	596.6	326.53	270.07	105.5
Bio-Fuel	1,469.93	115.23

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	52.8%	61%	72.4%	70.9%	76.2%	72.9%	73.4%	72.9%
EBITDA margin %	7.8%	6.6%	4.9%	3.9%	4.5%	5.1%	5.7%	6.6%
EBIT margin %	6%	5.2%	3.5%	2.6%	3%	3.8%	4.4%	5%
PAT margin %	2.3%	1.9%	2.4%	5.2%	2.1%	2.2%	2.6%	3%
Working capital
Receivable days	29	—	24	22	24	18	15	13
Inventory days	83	—	148	132	174	188	177	122
Payable days	0	—	141	122	173	187	148	108
NWC days	113	—	31	32	24	19	44	27
Leverage
Current ratio	0.65	—	0.77	0.92	0.88	0.82	0.78	0.74
Debt to EBITDA	2.32	—	4.19	4.08	3.7	3.28	3.53	2.43
Debt to equity	0.89	—	0.96	0.58	0.58	0.64	0.8	0.54
Interest coverage	2.2	2.2	2.4	2.8	2.3	2.7	2.5	3
Asset turnover	1.22	—	1.32	1.43	1.37	1.41	1.46	1.51
Return ratios
Return on assets %	2.8%	—	3.2%	7.3%	2.9%	3.1%	3.7%	4.5%
Return on capital employed %	16.3%	—	8.5%	7.5%	7.7%	10.5%	11.6%	11.9%
Return on equity %	11.4%	—	11.3%	19%	7.4%	8.4%	10.2%	10%

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
	61.01%	61.01%	61.01%	61.01%	61.01%	61.01%	61.01%	61.01%	61.01%	59.63%	59.63%	59.63%
	1.29%	1.57%	1.8%	1.75%	2.9%	2.44%	2.25%	3.44%	2.62%	2.42%	2.27%	2.24%
	0.08%	0.13%	0.08%	0.09%	1.94%	2%	0.91%	1.39%	1.33%	5.23%	5.2%	5.22%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	37.62%	37.29%	37.11%	37.15%	34.15%	34.55%	35.83%	34.16%	35.04%	32.72%	32.9%	32.91%
No. of shareholders	—	—	—	—	—	—	—	—	54,863	54,301	52,848	52,968

Promoter holding down 1.38 percentage points since Sep 2023.

36 deals · 13 Aug 2021 – 8 Oct 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
8 Oct 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	2,08,101	₹1,413.06	₹29.41 Cr
8 Oct 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	2,08,101	₹1,411.62	₹29.38 Cr
1 Oct 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	2,12,993	₹1,322.55	₹28.17 Cr
1 Oct 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	2,12,993	₹1,321.07	₹28.14 Cr
31 Jul 2024	PRRSAAR COMMODITIES PVT LTD	Bulk	NSE	Buy	1,79,199	₹1,238.86	₹22.20 Cr
31 Jul 2024	PRRSAAR COMMODITIES PVT LTD	Bulk	NSE	Sell	1,79,199	₹1,240.77	₹22.23 Cr
31 Jul 2024	QE SECURITIES LLP	Bulk	NSE	Sell	1,76,259	₹1,233.01	₹21.73 Cr
31 Jul 2024	QE SECURITIES LLP	Bulk	NSE	Buy	1,72,377	₹1,241.88	₹21.41 Cr
31 Jul 2024	ADROIT FINANCIAL SERVICES PVT LTD	Bulk	NSE	Sell	1,63,716	₹1,238.58	₹20.28 Cr
31 Jul 2024	ADROIT FINANCIAL SERVICES PVT LTD	Bulk	NSE	Buy	1,63,716	₹1,239.19	₹20.29 Cr

1–10 of 36

1 / 4

Mr. UMA SHANKAR BHARTIAExecutive Director-Chairperson related to Promoter-MD
Mrs. JAYSHREE BHARTIANon-Executive - Non Independent Director
Mr. Anand SinghalChief Financial Officer
Mrs. SHUKLA WASSANNon-Executive - Independent Director
Mrs. PRAGYA BHARTIA BARWALEExecutive Director
Mr. Rupark SarswatChief Executive Officer
Mr. ALOK SINGHALExecutive Director
Mr. RAVI KUMARNon-Executive - Independent Director
Mr. SAMRAT BANERJEENon-Executive - Independent Director
Mr. SUSHIL DUTT SALWANNon-Executive - Independent Director
Mr. Ankur JainCompany 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.

Portfolio month

Schemes holding

across 2 fund houses

Held by these funds

0.09%

of the company's equity

All mutual funds

0.22%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

3 schemes · 2 fund houses

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	58,348	6.69	0.27%	0.087%	-1,277
IB18-Groww Nifty Total Market Index Fund	Groww Mutual Fund	399	0.05	0.01%	0.001%	+2
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	66	0.01	0.01%	0%	-0

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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

15 announcementsExport CSV

1 Oct 2026, 4:14 pmCompany Update

Intimation Of Schedule Of Analyst / Institutional Investor Meeting.

General PDF

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Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	52.8%	61%	72.4%	70.9%	76.2%	72.9%	73.4%	72.9%
EBITDA margin %	7.8%	6.6%	4.9%	3.9%	4.5%	5.1%	5.7%	6.6%
EBIT margin %	6%	5.2%	3.5%	2.6%	3%	3.8%	4.4%	5%
PAT margin %	2.3%	1.9%	2.4%	5.2%	2.1%	2.2%	2.6%	3%
Working capital
Receivable days	29	—	24	22	24	18	15	13
Inventory days	83	—	148	132	174	188	177	122
Payable days	0	—	141	122	173	187	148	108
NWC days	113	—	31	32	24	19	44	27
Leverage
Current ratio	0.65	—	0.77	0.92	0.88	0.82	0.78	0.74
Debt to EBITDA	2.32	—	4.19	4.08	3.7	3.28	3.53	2.43
Debt to equity	0.89	—	0.96	0.58	0.58	0.64	0.8	0.54
Interest coverage	2.2	2.2	2.4	2.8	2.3	2.7	2.5	3
Asset turnover	1.22	—	1.32	1.43	1.37	1.41	1.46	1.51
Return ratios
Return on assets %	2.8%	—	3.2%	7.3%	2.9%	3.1%	3.7%	4.5%
Return on capital employed %	16.3%	—	8.5%	7.5%	7.7%	10.5%	11.6%	11.9%
Return on equity %	11.4%	—	11.3%	19%	7.4%	8.4%	10.2%	10%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
United Spirits LimitedUNITDSPRUNITDSPR	₹97,115 Cr	₹97,121 Cr	₹28,118 Cr	₹2,281 Cr	8.2%	₹1,884 Cr	6.6%	27.2%	21.6%	63
Radico Khaitan LimitedRADICORADICO	₹56,733 Cr	₹57,065 Cr	₹21,531 Cr	₹1,138 Cr	4.9%	₹704 Cr	2.9%	26.2%	19.9%	113
United Breweries LimitedUBLUBL	₹31,432 Cr	₹32,607 Cr	₹18,002 Cr	₹777 Cr	4.6%	₹396 Cr	2.4%	12.7%	9.3%	86
Allied Blenders And Distillers LimitedABDLABDL	₹19,004 Cr	₹20,150 Cr	₹7,604 Cr	₹546 Cr	7.2%	₹221 Cr	2.9%	26.7%	14.2%	77
Tilaknagar Industries LimitedTITI	₹13,428 Cr	₹15,723 Cr	₹6,711 Cr	₹494 Cr	8%	₹-32 Cr	0.4%	11.7%	1.1%	107
Piccadily Agro Industries LimitedPICCADILPICCADIL	₹5,729 Cr	₹6,260 Cr	₹1,177 Cr	₹239 Cr	20.6%	₹141 Cr	12.1%	32.5%	24.8%	297
Globus Spirits LimitedGLOBUSSPRGLOBUSSPR	₹2,290 Cr	₹2,805 Cr	₹3,813 Cr	₹279 Cr	7.2%	₹101 Cr	2.5%	13.4%	8.8%	41
Gm Breweries LimitedGMBREWGMBREW	₹2,171 Cr	₹2,171 Cr	₹2,977 Cr	₹181 Cr	6.1%	₹157 Cr	5.3%	19.1%	14.5%	17
India Glycols LimitedINDIAGLYCOINDIAGLYCO	₹2,002 Cr	₹3,580 Cr	₹10,312 Cr	₹669 Cr	6.6%	₹316 Cr	3%	11.9%	11.3%	27
Som Distilleries & Breweries LimitedSDBLSDBL	₹1,558 Cr	₹1,770 Cr	₹2,026 Cr	₹30 Cr	3.7%	₹-30 Cr	0.5%	6.1%	1.2%	21
Associated Alcohols & Breweries Ltd.ASALCBRASALCBR	₹1,228 Cr	₹1,294 Cr	₹1,049 Cr	₹136 Cr	13.8%	₹83 Cr	8.6%	19.2%	14.6%	89
Sula Vineyards LimitedSULASULA	₹1,105 Cr	₹1,399 Cr	₹599 Cr	₹102 Cr	17.4%	₹25 Cr	4.3%	9.7%	4.4%	375

Date	Category	Subject	Filing
1 Oct 2026, 4:14 pm	Company Update General	Intimation Of Schedule Of Analyst / Institutional Investor Meeting.	PDF
28 Sept 2026, 3:35 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 4:48 pm	Company Update General	Intimation Of Schedule Of Analyst / Institutional Investor Meeting.	PDF
16 Sept 2026, 4:19 pm	Company Update General	Intimation Of Schedule Of Plant Visit By Investors/Analysts.	PDF
8 Sept 2026, 7:09 pm	Company Update General	Material Update In Connection With Ennature Bio Pharma Limited	PDF
8 Sept 2026, 7:03 pm	Company Update General	Material Update In Connection With IGL Spirits Limited	PDF
7 Sept 2026, 6:59 pm	Company Update General	Intimation Of Schedule Of Analyst / Institutional Investor Meeting.	PDF
7 Sept 2026, 6:39 pm	Company Update General	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.	PDF

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	302	502	147	293	81	91	326	439	362	769
	-40	-103	-128	-147	-131	93	-330	-503	-736	-767
	-263	-399	3	-169	49	-181	-1	90	354	23
Net cash flow	—	-0	22	—	-0	4	-5	25	-20	25
Free cash flow	260	372	8	—	-68	-289	-113	-114	-398	-54
CFO / Operating profit %	127.8%	155.1%	—	74.7%	30.3%	35.8%	110.2%	109%	70.9%	118.5%

India Glycols Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

19

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Bio-Fuel · revenue

India Glycols Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends19

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Bio-Fuel · revenue

19

1

1