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India Glycols Limited (INDIAGLYCO) AI Stock Analysis

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IN:INDIAGLYCO

India Glycols Limited

(NSE:INDIAGLYCO)

Select Model
Rating:67Neutral
Price Target:INR 361.00â–²(9.05% Upside)
Action:reiterated
Date:10/28/26

Overall score is driven by attractive valuation (low P/E) and positive technical trend (price above major moving averages). These strengths are tempered by financial performance risk, primarily persistent negative free cash flow and weak cash conversion, alongside notable gross margin compression.

Positive Factors
Bio-based product differentiationA renewable feedstock platform differentiates India Glycols from conventional chemical producers and aligns its products with customers’ lower-carbon objectives. This positioning can support access to sustainability-focused applications and strengthen demand for bio-based inputs across multiple end markets over time.
Negative Factors
Gross margin compressionThe substantial decline in gross margin signals pressure from costs, pricing, or product mix and makes profitability less durable than revenue growth alone suggests. If margins remain near current levels, the company may have less operating cushion to absorb input volatility or competitive pricing pressure.

India Glycols Limited (INDIAGLYCO) vs. iShares MSCI India ETF (INDA)

-40%-20%0%20%40%60%80%100%IN:INDIAGLYCO+59.28%INDA-12.02%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
INR 20.77B
Dividend Yield
0.78%
Average Volume (3M)
88.35K
Price to Earnings (P/E)
6.7
Beta (1Y)
1.58
Revenue Growth
12.01%
EPS Growth
23.71%
Country
India
Employees
1,409
Sector
General
Sector Strength
55
Industry
Chemicals

India Glycols Limited Business Overview & Revenue Model

Company Description

India Glycols Limited, a green petrochemical company, manufactures and sells industrial chemicals in India. It operates through Bio-based Specialities and Performance Chemicals, Potable Spirits, and Ennature Biopharma segments. The company offers bio...

How the Company Makes Money

India Glycols Limited primarily makes money by manufacturing and selling chemicals to domestic and export customers. Its revenue model is product-sales driven, with earnings generated from (a) bulk/industrial chemicals and (b) higher-value specialty...

India Glycols Limited Financial Statement Overview

Summary

Strong multi-year revenue growth and generally healthy profitability are offset by meaningful gross margin compression (from ~41% in FY2023 to ~20% in FY2026) and weak earnings quality: free cash flow remains negative (about -1.7B) despite improved operating cash flow, indicating persistent cash burn after capex.

Income Statement

72Positive

Balance Sheet

66Positive

Cash Flow

38Negative
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue43.01B42.11B37.68B32.94B26.37B28.68B
Gross Profit12.61B8.61B9.99B10.55B10.69B8.45B
EBITDA6.86B7.00B5.11B4.28B3.48B4.98B
Net Income3.16B2.93B2.31B1.73B1.25B3.40B
Balance Sheet
Total Assets065.23B61.76B56.17B48.58B46.31B
Cash, Cash Equivalents and Short-Term Investments318.66M889.30M546.92M746.42M2.83B430.66M
Total Debt016.91B18.92B13.48B11.12B10.42B
Total Liabilities-29.33B35.90B39.20B35.66B29.57B28.58B
Stockholders Equity29.33B29.33B22.56B20.51B19.01B17.92B
Cash Flow
Free Cash Flow-650.60M-1.73B-3.98B-1.14B-1.13B-2.64B
Operating Cash Flow1.06B6.51B3.62B4.39B3.26B1.16B
Investing Cash Flow-1.59B-8.17B-7.36B-5.03B-3.30B764.47M
Financing Cash Flow637.20M1.91B3.54B899.12M-5.10M-1.89B

India Glycols Limited Technical Analysis

Technical Analysis SentimentPositive
Last Price331.05

Price Trends

50DMA289.61Positive
100DMA255.09Positive
200DMA224.40Positive

Market Momentum

MACD8.30Positive
RSI56.01Neutral
STOCH74.79Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDIAGLYCO, the sentiment is Positive. The current price of 331.05 is above the 20-day moving average (MA) of 324.59, above the 50-day MA of 289.61, and above the 200-day MA of 224.40, indicating a bullish trend. The MACD of 8.30 indicates Positive momentum. The RSI at 56.01 is Neutral, neither overbought nor oversold. The STOCH value of 74.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:INDIAGLYCO.

India Glycols Limited Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

IN:INDIAGLYCO against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
IN:GULPOLYIN:GULPOLY77OutperformINR 8.89B6.00―1.05%9.30%425.35%
IN:INDIAGLYCOIN:INDIAGLYCO67NeutralINR 22.19B6.71―0.78%12.01%23.71%
IN:NAVINFLUORIN:NAVINFLUOR59NeutralINR 445.17B56.30―0.17%45.68%100.24%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
IN:DEEPAKNTRIN:DEEPAKNTR55NeutralINR 207.25B19.51―0.49%25.13%99.89%
IN:FLUOROCHEMIN:FLUOROCHEM52NeutralINR 466.94B76.35―0.07%9.52%-1.13%
IN:GODAVARIBIN:GODAVARIB44NeutralINR 10.42B6797.00――7.00%―

* General Sector Average

Performance Comparison

-25%0%25%50%75%IN:INDIAGLYCOIN:DEEPAKNTRIN:FLUOROCHEMIN:GODAVARIBIN:GULPOLYIN:NAVINFLUORDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
IN:INDIAGLYCO and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
IN:INDIAGLYCOIndia Glycols Limited331.05123.4559.47%
IN:DEEPAKNTRDeepak Nitrite Limited1519.50-208.95-12.09%
IN:FLUOROCHEMGujarat Fluorochemicals Ltd.4250.70533.3114.35%
IN:GODAVARIBGodavari Biorefineries Limited203.55-64.80-24.15%
IN:GULPOLYGulshan Polyols Limited142.50-12.49-8.06%
IN:NAVINFLUORNavin Fluorine International Limited8676.352788.3247.36%

India Glycols Limited Corporate Events

India Glycols to Appeal GST Penalty Imposed by Uttarakhand Tax Authority

Oct 10, 2026

India Glycols Limited has disclosed that the State Tax Officer, SGST Department, Uttarakhand has imposed a GST-related penalty of Rs. 6,22,080 on the company. The penalty arises from an inspection of a goods vehicle where Part-B details in the e-way...

India Glycols shifts upcoming investor meetings to virtual format

Oct 6, 2026

India Glycols Limited has notified stock exchanges that its upcoming analyst and institutional investor meetings, previously planned as in-person interactions, will now be conducted virtually on 7 and 8 October 2026. The company emphasized that all o...

India Glycols issues cost apportionment guidance after bio pharma and spirits demerger

Oct 6, 2026

India Glycols Limited has completed a demerger under a court-approved scheme, transferring its Bio Pharma and Spirits & Biofuel undertakings into Ennature Bio Pharma Limited and IGL Spirits Limited, respectively. As part of this restructuring, sh...

India Glycols Schedules Analyst and Institutional Investor Meeting in Mumbai

Aug 28, 2026

India Glycols Limited has scheduled a physical group meeting with analysts and institutional investors in Mumbai on Wednesday, 2 September 2026, starting at 5:00 p.m. IST. The company has cautioned that the schedule may change due to exigencies invol...

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.

Date of analysis: Oct 28, 2026