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INDO GULF INDUSTRIES LTD.

Chemicals › Chemicals & Petrochemicals
₹3.27
at close · 5 Oct 2026
▲ 0.15 (+4.81%)

Latest filings

  1. Routine SEBI Regulation 74(5) certificate filing for Q2 FY26 · Compliance
  2. All 6 AGM resolutions passed with over 99.99 percent approval · Compliance
  3. 43rd AGM concludes: results adopted, new MD appointed, RPTs approved · Board & Shareholder Meetings
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Manufactures industrial explosives, with FY26 revenue from operations of Rs 21,935 lakhs, down about 11% from Rs 24,702 lakhs in FY25. The cost structure is dominated by raw materials at 90.8% of revenue, which the filings indicate includes ammonium nitrate sourced from its holding company, Ganesh Explosives Private Limited. Distribution is supported by trucks leased from two related parties — Ganesh Explosives at Rs 22.5 lakh per month and Rajesh Explosives at Rs 2 lakh per month, as approved by shareholders at the 42nd AGM. Capex ran at 5.8% of revenue in FY26. Borrowings rose to Rs 2,393 lakhs at FY26 end from Rs 1,153 lakhs a year earlier, and inventories grew to Rs 1,453 lakhs, while the company swung to a small net loss of Rs 41.65 lakhs from a profit of Rs 653.58 lakhs in FY25.

Operating scale
Raw materials share of revenue
90.8%FY26
Capex share of revenue
5.8%FY26
Borrowings
Rs 2,393 lakhsFY26
Inventories
Rs 1,453 lakhsFY26
Truck lease from holding company
Rs 22.5 lakh per monthFY26 (AGM-approved)
Truck lease from related party
Rs 2 lakh per monthFY26 (AGM-approved)
Who pays it
Industrial buyers of explosives (no specific end-markets disclosed in the filings)
Biggest cost
Raw materials at 90.8% of revenue, including ammonium nitrate bought from holding company Ganesh Explosives
Kind of business
Small, single-product industrial explosives manufacturer with heavy related-party dependence on inputs, transport and funding
Where it sits
BSE-listed small-cap in specialty chemicals/industrial explosives, a subsidiary-style entity with Ganesh Explosives Private Limited as holding company
Market Cap
₹3 Cr
P / E (TTM)
14.2×
EV / EBITDA
6.4×
Div Yield
—
Growth
25.4%▲
Revenue 5y CAGR
PAT — · EBITDA +20.5%
Quality
23.3%▲
ROCE (5y median)
ROE n/m · margin 1.9%
Leverage
2.27·
Debt / Equity · high
Net debt ₹24 Cr
Revenue FY21→FY26
3.1×▲
Margin −0.8 pts
₹71 Cr → ₹219 Cr
Cash conversion
2.80×▲
Operating cash ÷ profit · 5 yrs
₹44 Cr on ₹16 Cr
Where it sits among 107 Specialty Chemicals peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#23/99
P/B#2/99
ROCE#95/106
ROE#93/99
Debt / Equity#96/99
EBITDA margin#86/99
Revenue growth#92/94
Profit growth#8/92

Scorecard

Measured from the filed financials, judged against its Specialty Chemicals peers · as of FY26 — not investment advice

Strengths
Revenue compounding 25% a year over 5 years
Returns on capital 23.3% (5-year median)
#95 of 106 in Specialty Chemicals on the latest reported figures · down from 14.3% in FY21
Over 5 years it reported ₹16 Cr of profit and ₹44 Cr of operating cash — 2.80×
Profit is converting into cash
Negative working-capital cycle — the business is funded by its suppliers
Concerns
Carries more debt than its peers — 2.27× equity
higher than 97% of its 99 Specialty Chemicals peers

Charts

How has the market priced it — with filings on the timeline?

Price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from INDO GULF INDUSTRIES LTD.'s filed financials and exchange disclosures

What does INDO GULF INDUSTRIES LTD. do?

INDO GULF INDUSTRIES LTD. is a Chemicals & Petrochemicals company listed on BSE.

Is INDO GULF INDUSTRIES LTD. profitable?

No. Over the trailing twelve months INDO GULF INDUSTRIES LTD. reported a net loss of ₹0.82 Cr on revenue of ₹219 Cr.

Does INDO GULF INDUSTRIES LTD. pay a dividend?

Not in the latest reported year — INDO GULF INDUSTRIES LTD.'s dividend payout for FY26 was nil.

Is INDO GULF INDUSTRIES LTD. debt-free?

No. It reported borrowings of ₹24 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹24 Cr after cash. Debt stands at 2.27× equity. That is higher than 97% of its 99 Specialty Chemicals peers.

Is INDO GULF INDUSTRIES LTD. expensive compared with its peers?

On trailing P/E, INDO GULF INDUSTRIES LTD. ranks 23 of 99 in Specialty Chemicals — cheaper than 78% of them, against an industry median of 23.0×. This is a position, not a valuation judgement.

Where can I track INDO GULF INDUSTRIES LTD.'s announcements?

Every NSE and BSE filing by INDO GULF INDUSTRIES LTD. appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.