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Indogulf Cropsciences Ltd (IGCL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544432 NSE: IGCL Pesticides & Agrochemicals | Small Cap | Indogulf Cropscience Share Price
₹58.85 -1.53 (-2.53%)
As on 23-Oct'26 11:44
Indogulf Cropsciences Ltd (IGCL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544432 NSE: IGCL Pesticides & Agrochemicals | Small Cap | Indogulf Cropscience Share Price
₹58.85 -1.53 (-2.53%)
As on 23-Oct'26 11:44
Key Metrics
Valuation Multiples
Market Cap
₹382 Cr.
Current Price
₹58.9
52-Week Low / High
₹50 / 112
TTM EPS
₹6.1
TTM Sales
₹684 Cr.
Book Value per Share
₹73
P/E Ratio
9.90
Lower than its 5-year historical median
Industry PE
25.4
Price to Book (P/B)
0.83
Lower than its 5-year historical median
Price to Sales (P/S)
0.56
Lower than its 5-year historical median
EV/EBITDA
6.74
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
10.90%
Underperforms industry median
Return on Capital Employed (ROCE)
12.39%
Underperforms industry median
Return on Assets (ROA)
5.30%
Operating Profit Margin
11.3%
Net Profit Margin
5.68%
Gross Profit Margin
8.8%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
14.03%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
15.24%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
27.2%
Asset Quality
Promoter Holding
69.05%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹399 Cr.
Equity
₹63.2 Cr.
Face Value
₹10
All Time Low / High
₹49.55 / 121.90
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Quality
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Valuation
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Price Trend
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Is Indogulf Cropsciences Ltd a good quality company?
Indogulf Cropsciences Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Indogulf Cropsciences Ltd performance compare with that of its Peers?
Revenue growth of Indogulf Cropsciences Ltd vs industry peers?
Indogulf Cropsciences Ltd revenue CAGR is 6.61%, compared to the industry median CAGR of 0.14%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Indogulf Cropsciences Ltd?
Promoters hold 69.05% of the Indogulf Cropsciences Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Indogulf Cropsciences Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -46.51% based on the current price.
10 Year X-Ray : Login to view analysis.
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Indogulf Cropsciences Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|
| ROCE % ⓘ | 14.6% | 12.5% | 12.6% | 13.6% | 12.1% | - |
| Value Creation Index ⓘ | 0.0 | -0.1 | -0.1 | 0.0 | NA | - |
Growth Parameters ⓘ |
||||||
| Sales ⓘ | 507 | 568 | 552 | 592 | 676 | 653 |
| Sales YoY Gr. | - | 12.2% | -2.8% | 7.3% | 14% | - |
| Adj EPS ⓘ | 5.5 | 5.3 | 6.5 | 6.8 | 7.2 | 6 |
| YoY Gr. | - | -4.2% | 21.9% | 4.7% | 6.1% | - |
| BVPS (₹) ⓘ | 38.4 | 43.3 | 49.3 | 56.8 | 72.6 | 73 |
| Adj Net Profit ⓘ | 26 | 24.9 | 30.3 | 32.8 | 45.3 | 38 |
| Cash Flow from Ops. ⓘ | -9.1 | -58.7 | 52.5 | -11.7 | -40.9 | - |
| Debt/CF from Ops. ⓘ | -11.2 | -3.2 | 2.9 | -18.5 | -4.2 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 5.9% | 14% | ||||
| Adj EPS ⓘ | NA | NA | 10.6% | 6.1% | ||||
| BVPSⓘ | NA | NA | 18.8% | 27.9% | ||||
| Share Price | - | - | - | -46.3% | ||||
Key Financial Parameters ⓘ
| Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 14.4 | 12.9 | 13.9 | 12.9 | 12.3 | 8.3 |
| Op. Profit Mgn % ⓘ | 8.7 | 8.8 | 10.6 | 11.2 | 11.9 | 10.8 |
| Net Profit Mgn % ⓘ | 5.1 | 4.4 | 5.5 | 5.5 | 6.7 | 5.8 |
| Debt to Equity ⓘ | 0.6 | 0.9 | 0.7 | 0.8 | 0.4 | - |
| Working Cap Days ⓘ | 0 | 253 | 288 | 304 | 323 | 168 |
| Cash Conv. Cycle ⓘ | 0 | 161 | 187 | 188 | 199 | 75 |
Valuation of Indogulf Cropscience - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|
| Sales | 487 | 550 | 552 | 590 | 705 |
| Operating Expenses ⓘ + | 441 | 501 | 494 | 526 | 631 |
| Operating Profit ⓘ | 47 | 49 | 58 | 64 | 74 |
| Operating Profit Margin (%) | 9.6% | 8.9% | 10.6% | 10.9% | 10.5% |
| Other Income ⓘ + | 4 | 3 | 5 | 4 | 7 |
| Interest ⓘ | 6 | 12 | 13 | 15 | 17 |
| Depreciation ⓘ | 9 | 10 | 10 | 11 | 11 |
| Profit Before Tax ⓘ | 36 | 30 | 36 | 45 | 53 |
| Tax ⓘ | 9 | 8 | 8 | 13 | 13 |
| Profit After Tax | 26 | 22 | 28 | 31 | 40 |
| PAT Margin (%) | 5.4% | 4.1% | 5.1% | 5.3% | 5.7% |
| Adjusted EPS (₹) | 5.6 | 4.8 | 6.0 | 6.5 | 6.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 181 | 203 | 232 | 275 | 459 | ||||||
| Debt + | 95 | 179 | 148 | 209 | 176 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | ||||||
| Trade Payables | 101 | 82 | 110 | 134 | 128 | ||||||
| Others Liabilities ⓘ | 37 | 53 | 53 | 70 | 60 | ||||||
| Total Liabilities ⓘ | 414 | 518 | 542 | 688 | 823 | ||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 57 | 69 | 48 | 47 | 48 | ||||||
| CWIP ⓘ | 10 | 9 | 23 | 58 | 77 | ||||||
| Investments ⓘ | 0 | 0 | 0 | 0 | 12 | ||||||
| Inventories | 152 | 209 | 195 | 270 | 343 | ||||||
| Trade Receivables | 142 | 176 | 221 | 223 | 241 | ||||||
| Cash Equivalents | 5 | 4 | 3 | 10 | 12 | ||||||
| Others Assets ⓘ | 49 | 50 | 52 | 80 | 90 | ||||||
| Total Assets ⓘ | 414 | 518 | 542 | 688 | 823 | ||||||
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | -7 | -57 | 53 | -15 | -41 |
| Cash Flow From Investing Activity ⓘ + | -10 | -19 | -5 | -40 | -37 |
| Cash Flow From Financing Activity ⓘ + | 16 | 75 | -49 | 61 | 80 |
| Net Cash Flow ⓘ | -1 | -1 | -1 | 7 | 3 |
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 14.61 | 11.69 | 12.99 | 12.42 | 10.9 | |||||
| ROCE (%) | 14.78 | 12.44 | 12.58 | 13.4 | 12.39 | |||||
| Asset Turnover Ratio | 1.23 | 1.22 | 1.08 | 1.01 | 0.97 | |||||
| PAT to CFO Conversion(x) | -0.27 | -2.59 | 1.89 | -0.48 | -1.03 | |||||
| Working Capital Days | ||||||||||
| Receivable Days | 101.80 | 102 | 126.60 | 130.60 | 115.90 | |||||
| Inventory Days | 109.20 | 115.80 | 128.70 | 136.70 | 153.30 | |||||
| Payable Days | 111 | 87.90 | 95.50 | 117.30 | 105.90 | |||||
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Indogulf Cropsciences Ltd FAQs
The current trading price of Indogulf Cropscience on 23-Oct-2026 11:44 is ₹58.85.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 22-Oct-2026 the market cap of Indogulf Cropscience stood at ₹381.8 Cr
The latest P/E ratio of Indogulf Cropscience as of 22-Oct-2026 is 10.07.
The latest P/B ratio of Indogulf Cropscience as of 22-Oct-2026 is 0.83.
The 52-week high of Indogulf Cropscience is ₹111.5 and the 52-week low is ₹49.55.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Indogulf Cropscience is ₹653 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Indogulf Cropsciences Ltd is a below average quality company.
The key valuation ratios of Indogulf Cropsciences Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Indogulf Cropsciences Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Indogulf Cropsciences Ltd
Indogulf Cropsciences Limited was originally incorporated as ‘Jai Shree Rasayan Udyog Limited’, a public limited company under the provisions of the Companies Act, 1956, at New Delhi, India, pursuant to a certificate of incorporation dated January 22, 1993, issued by the Additional Registrar of Companies, Delhi and Haryana. The company commenced its operation pursuant to a certificate of commencement of business dated February 16, 1993, issued by the Registrar of Companies, Delhi and Haryana. Subsequently, with the objective of increasing its brand value in the market and better reflect the business activities of the company, the name of the company was changed to ‘Indogulf Cropsciences Limited’, pursuant to a Board resolution dated March 19, 2015, and a special resolution passed by its Shareholders at the extraordinary general meeting dated April 2, 2015. A fresh certificate of incorporation dated April 28, 2015 was issued by the Registrar of Companies, Delhi and Haryana.
The company is engaged in the business of manufacturing of crop protection products, plant nutrients and biologicals in India. It manufactures Spiromesifen technical with the minimum purity of 96.5% in 2019. It is also one of the first few indigenous manufacturers of Pyrazosulfuron Ethyl technical. It is also a growing exporter of crop protection, plant nutrients and biologicals products. It has been recognised as a ‘Two Star Export House’ by Government of India.
It commenced its operations in 1993 and primarily operate under three business verticals namely crop protection, plant nutrients and biologicals, to retail and institutional customers focused on improving the crop yield. It manufactures and market extensive range of products in all types of available formulations such as water dispersible granules (WDG), suspension concentrate (SC), capsule suspension (CS), ultra-low volume (ULV), emulsion in water (EW), soluble granule (SG), flowable suspension (FS), etc. which can be in powder, granules and liquid form to its customers. Its diverse product portfolio caters to a broad spectrum of crops, including cereals, pulses and oilseeds, fibre crops, plantations, and fruits and vegetables. Its products are designed to improve crop yield while promoting sustainable agriculture and environmental stewardship.
Business area of the company
The company is engaged in the business of manufacturing of crop protection products, plant nutrients and biologicals
Products of the company
Crop protection products
- Insecticides
- Herbicides
- Fungicides
- Plant growth regulators
- Adjuvants and efficacy enhancer
Biologicals products
- Bio-stimulants
- Bio-fertilizers
Plant Supplements
Awards, accreditations, and recognition
- 2016: Received a certificate of recognition as a ‘One Star Export House’ from the Ministry of Commerce and Industry, Government of India.
- 2016: Received first prize for manufacturing outstanding quality products from the Ministry of Micro, Small & Medium Enterprises, Government of India.
- 2017: Received ISO accreditation for ‘general requirements for the competence of testing and calibration laboratories’ for its facilities at Sonepat, Haryana in the field of testing.
- 2018: Received ‘Shaurya Sammaan’, an initiative by India News, Haryana.
- 2019: Received ‘2018 Overseas Market Expansion Award’ at CAC 2019.
- 2020: Received the ‘Company of the Year’ award issued by Industry Outlook.
- 2021: Received a certificate of recognition as a ‘Two Star Export House’ issued by the Ministry of Commerce and Industry, Government of India.
- 2021: Received ISO accreditation for ‘Environmental Management System’.
- 2020: Its Indogulf group received the ‘Company of the Year’ award for agrochemicals products recognized by Industry Outlook.
- 2022: Certified as an Authorized Economic Operator (Importer and Exporter) by the Ministry of Finance, Government of India.
- 2022: Received ISO accreditation for ‘general requirements for the competence of testing and calibration laboratories’ for its facilities at Sonepat, Haryana in the field of testing.
- 2023: Received ISO accreditation for ‘Quality Management System’.
- 2024: Received a statement of compliance from Ecocert India Private Limited acknowledging its products mentioned therein to be in compliance for use in organic production.
- 2025: Received the award for ‘Successful company of the era having presence for more than 20 years-medium scale’ from the Pesticides Manufacturers & Formulators Association of India (PMFAI) at PMFAI-SML Annual AGCHEM Awards.
History and milestones
- 1996: Established a pesticides unit at Nathupur, Haryana.
- 2006: Obtained license to manufacture insecticides for its facility at Samba, Jammu and Kashmir.
- 2012: Obtained license to manufacture insecticides for its Nathupur-I facility at Sonipat, Haryana.
- 2019: Incorporated Indogulf Cropsciences Australia Pty Ltd., the subsidiary situated in Australia.
- 2021: Received a certificate of recognition as a ‘Two Star Export House’ issued by the Ministry of Commerce and Industry, Government of India.
- 2021: Started manufacturing unit at Barwasni, Haryana.
- 2023: Obtained process patent of WDV Sulphur Noodle.
- 2023: Obtained product patent for weed control in paddy.
- 2024: Received formulation patent for weed control in wheat crop.
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