India Glycols Limited (IN:INDIAGLYCO)
:INDIAGLYCO
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India Glycols Limited
(INDIAGLYCO)
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Rating:58Neutral
Price Target:
₹1,050.00
▲(4.20% Upside)
Action:Reiterated
Date:05/19/26
The score is primarily held back by persistently negative free cash flow and weak cash conversion, despite improving operating cash flow. Revenue growth and manageable, improving leverage support the fundamental picture, while technicals are mixed (stronger medium-term trend but softer near-term) and valuation appears reasonable rather than compelling.
Positive Factors
Renewable feedstock business model
India Glycols’ focus on bio-based glycols and specialty chemicals from renewable feedstocks (eg. molasses) represents a durable structural advantage. It aligns the company with long-term sustainability trends and diversifies feedstock exposure away from purely petrochemical inputs, supporting resilience and customer demand in green formulations.
Negative Factors
Persistent negative free cash flow
Despite stronger operating cash flow, recurring negative free cash flow is a durable concern: multi-year cash outflows after capex limit the company’s ability to self-fund growth, pay down absolute debt, or build reserves. Weak cash conversion relative to profits raises questions on earnings quality and financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Renewable feedstock business model
India Glycols’ focus on bio-based glycols and specialty chemicals from renewable feedstocks (eg. molasses) represents a durable structural advantage. It aligns the company with long-term sustainability trends and diversifies feedstock exposure away from purely petrochemical inputs, supporting resilience and customer demand in green formulations.
Read all positive factors
India Glycols Limited (INDIAGLYCO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹66.59B
Dividend Yield0.47%
Average Volume (3M)19.23K
Price to Earnings (P/E)18.5
Beta (1Y)1.60
Revenue Growth11.76%
EPS Growth25.41%
CountryIN
Employees1,326
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)41.86
Shares Outstanding67,026,764
10 Day Avg. Volume24,007
30 Day Avg. Volume19,229
Financial Highlights & Ratios
PEG Ratio0.80
Price to Book (P/B)1.84
Price to Sales (P/S)1.28
P/FCF Ratio-31.34
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)64.95
Revenue Forecast (FY)₹46.97B
India Glycols Limited Business Overview & Revenue Model
Company Description
India Glycols Limited, a green petrochemical company, manufactures and sells industrial chemicals in India. The company operates through Industrial Chemical, Ethyl Alcohol, and Nutraceuticals segments. It offers monoethylene, diethylene, and triet...
How the Company Makes Money
India Glycols Limited makes money primarily by manufacturing and selling chemicals to industrial customers. Its core revenue streams include (1) bio-based glycols and glycol ethers, where it produces these solvents/intermediates and sells them int...
India Glycols Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 39.71B | 42.11B | 37.68B | 32.94B | 26.37B | 28.68B |
| Gross Profit | 13.76B | 8.61B | 9.99B | 10.55B | 10.69B | 8.45B |
| EBITDA | 6.26B | 6.49B | 5.11B | 4.28B | 3.47B | 4.98B |
| Net Income | 2.59B | 2.93B | 2.31B | 1.73B | 1.25B | 3.40B |
Balance Sheet | ||||||
| Total Assets | 61.57B | 65.23B | 61.76B | 56.17B | 48.58B | 46.31B |
| Cash, Cash Equivalents and Short-Term Investments | 1.53B | 498.30M | 546.92M | 746.42M | 2.83B | 430.66M |
| Total Debt | 20.55B | 16.91B | 18.92B | 13.48B | 11.12B | 10.42B |
| Total Liabilities | 37.64B | 35.90B | 39.20B | 35.66B | 29.57B | 28.58B |
| Stockholders Equity | 23.94B | 29.33B | 22.56B | 20.51B | 19.01B | 17.92B |
Cash Flow | ||||||
| Free Cash Flow | -650.60M | -1.73B | -3.98B | -1.14B | -1.13B | -2.64B |
| Operating Cash Flow | 1.06B | 6.51B | 3.62B | 4.39B | 3.26B | 1.16B |
| Investing Cash Flow | -1.59B | -8.17B | -7.36B | -5.03B | -3.30B | 764.47M |
| Financing Cash Flow | 637.20M | 1.91B | 3.54B | 899.12M | -5.10M | -1.89B |
India Glycols Limited Technical Analysis
Neutral
1007.65
Price Trends
946.50
Positive
941.47
Positive
937.00
Positive
Market Momentum
21.19
Positive
46.92
Neutral
14.79
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDIAGLYCO, the sentiment is Neutral. The current price of 1007.65 is below the 20-day moving average (MA) of 1036.67, above the 50-day MA of 946.50, and above the 200-day MA of 937.00, indicating a neutral trend. The MACD of 21.19 indicates Positive momentum. The RSI at 46.92 is Neutral, neither overbought nor oversold. The STOCH value of 14.79 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:INDIAGLYCO.
India Glycols Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ₹12.30B | 5.40 | ― | 0.22% | 19.16% | 216.90% | |
70 Outperform | ₹360.90B | 37.13 | ― | 0.23% | 41.05% | 124.02% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ₹412.00B | 98.66 | ― | 0.08% | 4.46% | 44.09% | |
58 Neutral | ₹66.59B | 18.48 | ― | 0.47% | 11.76% | 25.41% | |
56 Neutral | ₹248.79B | 31.88 | ― | 0.44% | -4.13% | -21.05% |
* Basic Materials Sector Average
IN:INDIAGLYCO
India Glycols Limited
993.45
71.87
7.80%
IN:DEEPAKNTR
Deepak Nitrite Limited
1,824.10
-237.17
-11.51%
IN:FLUOROCHEM
Gujarat Fluorochemicals Ltd.
3,750.60
-264.78
-6.59%
IN:GODAVARIB
Godavari Biorefineries Limited
326.95
134.30
69.71%
IN:GULPOLY
Gulshan Polyols Limited
197.25
4.31
2.23%
IN:NAVINFLUOR
Navin Fluorine International Limited
7,037.05
2,729.26
63.36%
India Glycols Limited Corporate Events
India Glycols Wins Major Relief in GST Penalty Appeal, Accepts Minor Fine
Apr 15, 2026
India Glycols Limited has disclosed that the Deputy Commissioner of State Tax, Appeal-4, Mehsana, Gujarat has set aside a previously imposed integrated GST penalty of Rs.7,20,570, which had arisen from an earlier order challenged by the company. I...
NCLT Admits India Glycols’ Second Motion for Group Restructuring Scheme
Apr 10, 2026
India Glycols Limited has reported that the National Company Law Tribunal, Allahabad Bench at Prayagraj, has admitted the second motion petition for its Scheme of Arrangement among India Glycols, Ennature Biopharma Limited and IGL Spirits Limited....
India Glycols shareholders clear NCLT-driven scheme of arrangement
Mar 24, 2026
India Glycols Limited held a court-convened meeting of its equity shareholders on 24 March 2026 via video conference, as directed by the National Company Law Tribunal, Allahabad Bench. The meeting was properly constituted with appointed chairperso...
India Glycols’ Unsecured Creditors Clear Scheme Resolution Under NCLT Supervision
Mar 24, 2026
India Glycols Limited reported the outcome of a court-convened meeting of its unsecured creditors held via video conference on 24 March 2026, as directed by the National Company Law Tribunal, Allahabad Bench. The meeting, attended by 27 unsecured ...
India Glycols Gets Major Relief as Customs Appeal Cuts Penalties, Plans Second Challenge
Mar 13, 2026
India Glycols Limited has disclosed that the Commissioner (Appeals), Noida has partially upheld an earlier customs order confirming a demand of Rs. 33.43 crore as short‑paid duty, along with applicable interest and a reduced penalty of Rs. 4...
India Glycols to Weigh Interim Dividend, Closes Trading Window
Mar 10, 2026
India Glycols Limited has scheduled a board meeting on 17 March 2026 to consider the declaration of an interim dividend for the 2025-26 financial year, signaling a potential payout to shareholders depending on the board’s decision. In line w...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.