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Indogulf Cropsciences Limited
(IGCL)
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Rating:56Neutral
Price Target:
₹63.00
▼(-1.45% Downside)
Action:Reiterated
Date:10/17/26
The score is primarily held back by weak financial quality due to persistently negative operating and free cash flow, despite strong reported revenue growth and positive margins. Technical signals are mixed-to-weak (negative MACD and price below key longer-term moving averages), while the low P/E provides a valuation offset but does not outweigh the cash generation risk.
Positive Factors
Strong FY2026 growth and profitability
Sharp revenue expansion alongside positive gross and net margins indicates strong demand for IGCL’s agri-input offerings and an established ability to earn profits at scale. If maintained, this combination can support reinvestment, broaden distribution, and strengthen the company’s position over the next several quarters.
Negative Factors
Persistent negative cash generation
Negative operating and free cash flow across two consecutive fiscal years shows that reported earnings are not converting into liquidity. Continued weak cash conversion can increase reliance on external funding, constrain investment capacity, and make rapid revenue growth less financially durable.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong FY2026 growth and profitability
Sharp revenue expansion alongside positive gross and net margins indicates strong demand for IGCL’s agri-input offerings and an established ability to earn profits at scale. If maintained, this combination can support reinvestment, broaden distribution, and strengthen the company’s position over the next several quarters.
Read all positive factors
Indogulf Cropsciences Limited (IGCL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.62B
Dividend YieldN/A
Average Volume (3M)5.50K
Price to Earnings (P/E)8.6
Beta (1Y)1.39
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees700
SectorGeneral
Sector StrengthN/A
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)6.56
Shares Outstanding63,223,995
10 Day Avg. Volume5,828
30 Day Avg. Volume5,499
Financial Highlights & Ratios
PEG Ratio2.10
Price to Book (P/B)0.77
Price to Sales (P/S)0.50
P/FCF Ratio-4.19
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)N/A
Revenue Forecast (FY)N/A
Indogulf Cropsciences Limited Business Overview & Revenue Model
Company Description
Indogulf Cropsciences Limited is engaged in the production and distribution of a wide array of agricultural solutions, encompassing crop protection agents, plant nourishment products, and biological inputs. These are supplied to both individual co...
How the Company Makes Money
IGCL primarily makes money by selling crop protection products (typically pesticide/insecticide/herbicide/fungicide formulations) through agricultural distribution channels, generating revenue from the sale of finished agri-input products. Its rev...
Indogulf Cropsciences Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
68
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Jun 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.84B | 7.05B | 5.90B | 5.51B | 5.49B | 4.86B |
| Gross Profit | 1.71B | 1.50B | 1.04B | 1.54B | 1.39B | 1.25B |
| EBITDA | 802.76M | 815.88M | 696.86M | 587.04M | 508.71M | 495.97M |
| Net Income | 385.74M | 400.27M | 314.72M | 282.33M | 224.23M | 263.63M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 8.27B | 6.90B | 5.42B | 5.18B | 4.14B |
| Cash, Cash Equivalents and Short-Term Investments | 129.65M | 123.12M | 96.85M | 5.65M | 1.98M | 11.87M |
| Total Debt | 0.00 | 1.83B | 2.31B | 1.59B | 1.95B | 1.07B |
| Total Liabilities | -4.59B | 3.67B | 4.15B | 3.11B | 3.14B | 2.33B |
| Stockholders Equity | 4.59B | 4.59B | 2.75B | 2.32B | 2.03B | 1.81B |
Cash Flow | ||||||
| Free Cash Flow | -966.56M | -838.86M | -704.15M | 284.92M | -771.71M | -202.11M |
| Operating Cash Flow | -816.91M | -554.64M | -282.36M | 533.40M | -570.10M | -70.05M |
| Investing Cash Flow | -287.26M | -386.91M | -403.49M | -52.25M | -192.94M | -100.15M |
| Financing Cash Flow | 1.13B | 967.82M | 753.54M | -488.85M | 751.98M | 160.94M |
Indogulf Cropsciences Limited Technical Analysis
Negative
63.93
Price Trends
64.73
Negative
66.41
Negative
65.89
Negative
Market Momentum
-1.63
Negative
43.30
Neutral
41.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IGCL, the sentiment is Negative. The current price of 63.93 is above the 20-day moving average (MA) of 57.28, below the 50-day MA of 64.73, and below the 200-day MA of 65.89, indicating a neutral trend. The MACD of -1.63 indicates Negative momentum. The RSI at 43.30 is Neutral, neither overbought nor oversold. The STOCH value of 41.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:IGCL.
Indogulf Cropsciences Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | ₹8.48B | 14.09 | ― | ― | 8.45% | 14.96% | |
60 Neutral | ₹2.12B | 24.35 | ― | 0.07% | 0.98% | 10.45% | |
56 Neutral | ₹3.62B | 8.65 | ― | ― | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹14.98B | 11.73 | ― | 0.39% | 1.26% | -16.43% | |
48 Neutral | ₹4.86B | 16.35 | ― | 0.73% | -24.14% | -56.81% | |
44 Neutral | ₹5.90B | -7.82 | ― | 0.68% | ― | ― |
* General Sector Average
IN:IGCL
Indogulf Cropsciences Limited
57.33
-49.12
-46.14%
IN:BESTAGRO
Best Agrolife Ltd.
13.70
-8.28
-37.66%
IN:DHARMAJ
Dharmaj Crop Guard Ltd.
250.90
-42.55
-14.50%
IN:HERANBA
Heranba Industries Limited
147.45
-152.50
-50.84%
IN:INSECTICID
Insecticides (India) Limited
514.85
-197.03
-27.68%
IN:SIKKO
Sikko Industries Ltd.
4.85
-0.15
-3.00%
Indogulf Cropsciences Limited Corporate Events
Indogulf Cropsciences Files Voting Results for 34th AGM With Exchanges
Sep 26, 2026
Indogulf Cropsciences Limited, a listed agricultural inputs company trading under scrip code 544432 on BSE and symbol IGCL on NSE, continues to emphasize regulatory compliance and transparent engagement with its public shareholders. Its governance...
Indogulf Cropsciences Sets September 24 Virtual AGM for Shareholders
Aug 29, 2026
Indogulf Cropsciences Limited has announced that its 34th Annual General Meeting will be held on September 24, 2026, at 12:00 p.m. IST via video conferencing or other audio-visual means. The company has published requisite newspaper advertisements...
Indogulf Cropsciences Gets Clean Limited Review on Q1 FY27 Results
Aug 12, 2026
Indogulf Cropsciences Limited’s board met on August 12, 2026 and approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The results, prepared under Ind AS 34, were accompanied by a limited r...
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.