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Swing Capital

India Glycols Ltd

NSE: INDIAGLYCO BSE: 500201

Established in 1988, India Glycols Ltd. is engaged in the manufacturing of green technology-based bulk, specialty & performance chemicals, and natural gums, spirits, industrial gases, sugar, and nutraceuticals. [1][2]

₹1,005
52W: ₹792 — ₹1223
PE 23.7 · Book ₹379 · +165% vs book
Market Cap₹6,733 Cr
Stock P/E23.7Price to Earnings
ROCE13.4%Return on Capital
ROE12.8%Return on Equity
Div. Yield0.75%Face Value ₹5

Strengths

  • +Company has delivered good profit growth of 27.4% CAGR over last 5 years
  • +Company has been maintaining a healthy dividend payout of 17.1%

Weaknesses

  • −Stock is trading at 2.58 times its book value
  • −Company has a low return on equity of 10.8% over last 3 years.

Shareholding Pattern

Promoters59.63%
FIIs2.27%
DIIs5.19%
Public32.91%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters61.02%61.02%61.02%61.02%61.02%61.02%59.63%▼1.459.63%
FIIs1.75%2.9%▲1.12.44%▼0.52.24%▼0.23.44%▲1.22.62%▼0.82.42%▼0.22.27%▼0.1
DIIs0.09%1.93%▲1.82%▲0.10.91%▼1.11.39%▲0.51.34%▼0.05.22%▲3.95.19%▼0.0
Public37.15%34.15%▼3.034.54%▲0.435.82%▲1.334.15%▼1.735.04%▲0.932.72%▼2.332.91%▲0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales9049249689619758631,0401,0911,102978
Expenses801818846845851719893932926814
Operating Profit103105123116124144148158176164
OPM %11%11%13%12%13%17%14%14%16%17%
Net Profit383847394450535465110
EPS ₹6.116.17.556.377.088.138.548.719.7416.45

AI Insights

Revenue Trend

Mar 2026 revenue at ₹4,211Cr, up 11.8% YoY. OPM at 15%.

Debt Position

Borrowings at ₹1,691Cr. Debt-to-equity ratio: 0.68x. Moderate leverage.

Capex Cycle

CWIP at ₹37Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 5.19% (+3.22pp change). FIIs: 2.27% (+1.11pp change). Promoters hold 59.63%.

Margin & Efficiency

ROCE improving from 4% (Mar 2015) to 13% (Mar 2026). Working capital days: -50.

Valuation

PE 23.7x with 13.4% ROCE. Price is 165% above book value of ₹379. Dividend yield: 0.75%.

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