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Last Updated: April 2, 2026, 4:49 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 539449 | NSE: IGCIL

IGC Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹0.42Overvalued by 78.35%vs CMP ₹1.94

P/E (15.0) × ROE (0.3%) × BV (₹12.30) × DY (2.00%)

Defaults: P/E=15

₹3.99Undervalued by 105.67%vs CMP ₹1.94
MoS: +51.4% (Strong)Confidence: 38/100 (Low)Models: 1 Under, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹0.4249%Over (-78.4%)
Net Asset ValueAssets₹12.2829%Under (+533%)
Revenue MultipleRevenue₹0.8622%Over (-55.7%)
Consensus (3 models)₹3.99100%Undervalued
Key Drivers: ROE 0.3% is below cost of equity. | Wide model spread (₹0–₹12) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 0.6% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

40
IGC Industries Ltd scores 40/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health34/100 · Weak
ROCE 0.2% WeakROE 0.3% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 0/5 years Inconsistent
Smart Money30/100 · Weak
FII holding down -1.44% (6mo) SellingPromoter holding at 0.0% Stable
Earnings Quality55/100 · Moderate
OPM expanding (-425% → -2%) ImprovingWorking capital: 4,087 days Capital intensive
Quarterly Momentum35/100 · Weak
Revenue (4Q): -100% YoY Declining
Industry Rank40/100 · Moderate
ROCE 0.2% vs industry 10.8% Below peersROE 0.3% vs industry 29.5% Below peers3Y sales CAGR: 268% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

IGC Industries Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
40/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 0.0 vs Ind 50.9 | ROCE 0.2% | ROE 0.3% | CFO/NP N/A
Balance Sheet Stress
20/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.00x | IntCov 0.0x | Current 0.73x | Borrow/Reserve 0.00x
Cash Flow Reliability
71/100
Mixed
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹0 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII 0.00 pp | DII N/A | Prom 0.00 pp
Business Momentum
0
Watch closely
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales N/A | Q NP N/A | Q OPM 0.0 pp
Derived FieldValueHow it is derived
Valuation Gap %+105.7%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.00xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change0.00 ppLatest FII% minus previous FII%
DII ChangeN/ALatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-962Latest shareholder count minus previous count
Quarterly Sales ChangeN/ALatest quarter sales vs previous quarter sales
Quarterly Profit ChangeN/ALatest quarter net profit vs previous quarter net profit
Quarterly OPM Change0.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:49 am

Market Cap 6.74 Cr.
Current Price 1.94
Intrinsic Value₹3.99
High / Low 6.55/1.73
Stock P/E
Book Value 12.3
Dividend Yield0.00 %
ROCE0.19 %
ROE0.28 %
Face Value 10.0
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for IGC Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
IGC Industries Ltd 6.74 Cr. 1.94 6.55/1.73 12.30.00 %0.19 %0.28 % 10.0
Hindoostan Mills Ltd 24.4 Cr. 147 201/13561.0 2190.00 %28.4 %29.8 % 10.0
Gokak Textiles Ltd 40.3 Cr. 62.0 113/52.6 1150.00 %0.85 %% 10.0
Globus Power Generation Ltd 127 Cr. 12.8 18.4/11.0 0.810.00 %7.29 %7.29 % 10.0
GHCL Textiles Ltd 673 Cr. 70.4 99.0/65.011.8 1530.71 %4.53 %3.96 % 2.00
Industry Average1,369.00 Cr94.1150.9181.700.16%10.78%29.54%8.11

All Competitor Stocks of IGC Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 0.000.000.000.000.000.000.001.990.000.000.000.000.00
Expenses 0.040.040.050.010.320.010.001.710.280.050.000.000.29
Operating Profit -0.04-0.04-0.05-0.01-0.32-0.010.000.28-0.28-0.050.000.00-0.29
OPM % 14.07%
Other Income 0.000.010.000.000.000.000.000.000.000.000.000.000.00
Interest 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Depreciation 0.000.010.000.000.000.000.000.000.000.000.000.000.00
Profit before tax -0.04-0.04-0.05-0.01-0.32-0.010.000.28-0.28-0.050.000.00-0.29
Tax % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%-140.00%0.00%
Net Profit -0.04-0.04-0.05-0.01-0.32-0.010.000.28-0.280.020.000.00-0.29
EPS in Rs -0.01-0.01-0.01-0.00-0.09-0.000.000.08-0.080.010.000.00-0.08

Last Updated: March 3, 2026, 9:06 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 11:37 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 0.250.380.811.0949.220.530.020.030.040.000.001.990.00
Expenses 0.230.380.971.0748.860.760.240.350.380.180.152.050.34
Operating Profit 0.020.00-0.160.020.36-0.23-0.22-0.32-0.34-0.18-0.15-0.06-0.34
OPM % 8.00%0.00%-19.75%1.83%0.73%-43.40%-1,100.00%-1,066.67%-850.00%-3.02%
Other Income 0.000.000.000.000.000.48-0.780.010.000.01-0.240.000.00
Interest 0.010.000.000.000.220.000.000.000.000.000.000.000.00
Depreciation 0.000.000.000.000.110.240.170.000.010.010.000.000.00
Profit before tax 0.010.00-0.160.020.030.01-1.17-0.31-0.35-0.18-0.39-0.06-0.34
Tax % 0.00%0.00%0.00%33.33%200.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit 0.010.00-0.160.010.010.00-1.17-0.31-0.35-0.18-0.39-0.06-0.27
EPS in Rs 0.030.00-0.050.000.000.00-0.34-0.09-0.10-0.05-0.11-0.02-0.07
Dividend Payout % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152016-20172017-20182018-20192020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-100.00%106.25%0.00%-100.00%73.50%-12.90%48.57%-116.67%84.62%
Change in YoY Net Profit Growth (%)0.00%206.25%-106.25%-100.00%173.50%-86.41%61.47%-165.24%201.28%

IGC Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:18%
5 Years:151%
3 Years:268%
TTM:%
Compounded Profit Growth
10 Years:%
5 Years:12%
3 Years:22%
TTM:106%
Stock Price CAGR
10 Years:%
5 Years:-35%
3 Years:-38%
1 Year:-77%
Return on Equity
10 Years:-3%
5 Years:-4%
3 Years:-2%
Last Year:0%

Last Updated: September 5, 2025, 3:41 pm

Balance Sheet

Last Updated: December 4, 2025, 3:04 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.240.242.242.242.242.242.242.242.242.242.2434.7234.72
Reserves -0.172.930.850.860.870.87-0.30-0.61-0.96-1.14-1.537.967.96
Borrowings 0.000.000.00117.7437.9637.829.8013.8113.8113.819.5810.010.00
Other Liabilities 0.000.290.010.1548.048.9810.090.280.110.110.131.8611.77
Total Liabilities 0.073.463.10120.9989.1149.9121.8315.7215.2015.0210.4254.5554.45
Fixed Assets 0.000.000.010.011.861.630.010.000.020.020.010.010.01
CWIP 0.000.000.000.000.000.005.025.185.185.180.000.000.00
Investments 0.000.000.000.000.000.170.190.190.190.190.1920.3920.39
Other Assets 0.073.463.09120.9887.2548.1116.6110.359.819.6310.2234.1534.05
Total Assets 0.073.463.10120.9989.1149.9121.8315.7215.2015.0210.4254.5554.45

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 0.010.01-3.09-117.4181.700.2732.599.760.200.00-5.18-21.83
Cash from Investing Activity + 0.000.000.00-0.01-1.95-0.17-4.540.00-0.200.005.18-20.20
Cash from Financing Activity + 0.000.003.10117.74-80.00-0.13-28.03-9.800.000.000.0042.03
Net Cash Flow 0.010.010.000.31-0.26-0.030.01-0.040.000.000.000.00
Free Cash Flow 0.010.01-3.09-117.4279.750.2628.079.760.170.000.00-21.83
CFO/OP 50%1,931%-587,050%22,694%-117%-14,814%-3,050%-59%0%3,453%36,383%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow0.020.00-0.16-117.72-37.60-38.05-10.02-14.13-14.15-13.99-9.73-10.07

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 29.20336.1827.04214.31223.660.000.000.000.00365.00
Inventory Days 0.000.000.000.003.54418.2319,710.005,110.0010,220.00119.53
Days Payable 360.71395.42730.001,642.50182.50373.54
Cash Conversion Cycle 29.20336.1827.04214.31-133.5222.8118,980.003,467.5010,037.50110.99
Working Capital Days 73.003,035.261,113.02927.578.82888.40-60,407.50-45,503.33-37,412.504,086.53
ROCE %30.77%0.00%-5.11%0.03%0.31%0.02%-0.84%-2.28%-2.29%-1.27%-1.19%-0.23%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 65.49%65.49%65.49%65.49%65.49%11.49%0.00%0.00%0.00%0.00%0.00%0.00%
FIIs 0.00%0.00%0.00%0.00%0.00%0.00%0.00%1.44%1.44%0.00%0.00%0.00%
Public 34.52%34.51%34.51%34.51%34.50%88.50%100.01%98.55%98.55%99.99%99.99%100.00%
No. of Shareholders 7037037037168591,9272,24126,04723,05321,46822,46321,501

Shareholding Pattern Chart

No. of Shareholders

IGC Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -0.02-1.76-0.80-1.55-1.38
Diluted EPS (Rs.) -0.04-1.76-0.80-1.55-1.38
Cash EPS (Rs.) -0.01-1.74-0.77-1.52-1.37
Book Value[Excl.RevalReserv]/Share (Rs.) 12.293.154.915.747.27
Book Value[Incl.RevalReserv]/Share (Rs.) 12.293.154.915.747.27
Revenue From Operations / Share (Rs.) 0.570.000.000.170.14
PBDIT / Share (Rs.) -0.01-1.73-0.80-1.51-1.36
PBIT / Share (Rs.) -0.01-1.75-0.82-1.55-1.38
PBT / Share (Rs.) -0.01-1.76-0.79-1.55-1.38
Net Profit / Share (Rs.) -0.01-1.76-0.79-1.55-1.38
PBDIT Margin (%) -2.920.000.00-877.97-971.24
PBIT Margin (%) -3.060.000.00-898.70-980.37
PBT Margin (%) -3.100.000.00-902.07-982.49
Net Profit Margin (%) -3.100.000.00-902.07-983.62
Return on Networth / Equity (%) -0.14-55.85-16.25-27.06-18.99
Return on Capital Employeed (%) -0.14-53.93-16.55-26.51-18.68
Return On Assets (%) -0.11-3.78-1.19-2.29-1.96
Total Debt / Equity (X) 0.000.0012.5510.730.00
Asset Turnover Ratio (%) 0.060.000.000.000.00
Current Ratio (X) 2.881.050.690.700.73
Quick Ratio (X) 2.840.990.650.660.69
Inventory Turnover Ratio (X) 3.560.000.000.000.00
Interest Coverage Ratio (X) -72.63-194.20-163.91-260.69-457.77
Interest Coverage Ratio (Post Tax) (X) -76.13-196.15-168.82-266.85-462.60
Enterprise Value (Cr.) 21.527.8619.9720.527.88
EV / Net Operating Revenue (X) 10.840.000.00531.60250.68
EV / EBITDA (X) -370.36-20.25-110.78-60.55-25.81
MarketCap / Net Operating Revenue (X) 10.840.000.00174.09250.89
Price / BV (X) 0.5011.155.615.224.84
Price / Net Operating Revenue (X) 10.860.000.00174.42251.43
EarningsYield 0.00-0.05-0.02-0.05-0.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

IGC Industries Ltd. is a Public Limited Listed company incorporated on 26/08/1980 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L46692WB1980PLC032950 and registration number is 032950. Currently company belongs to the Industry of Textiles - General. Company's Total Operating Revenue is Rs. 1.99 Cr. and Equity Capital is Rs. 34.72 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Textiles - General12 Government Place (East), 1st Floor Formerly Hemanta Basu Sarani, Kolkata West Bengal 400069Contact not found
Management
NamePosition Held
Ms. Supriya Dilip GaikwadExecutive Director
Mr. Ziauddin MohammedDirector
Ms. HemlataIndependent Director

FAQ

What is the intrinsic value of IGC Industries Ltd and is it undervalued?

As of 05 April 2026, IGC Industries Ltd's intrinsic value is ₹3.99, which is 105.67% higher than the current market price of ₹1.94, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (0.28 %), book value (₹12.3), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of IGC Industries Ltd?

IGC Industries Ltd is trading at ₹1.94 as of 05 April 2026, with a FY2026-2027 high of ₹6.55 and low of ₹1.73. The stock is currently near its 52-week low. Market cap stands at ₹6.74 Cr..

How does IGC Industries Ltd's P/E ratio compare to its industry?

IGC Industries Ltd has a P/E ratio of , which is below the industry average of 50.91. This is broadly in line with or below the industry average.

Is IGC Industries Ltd financially healthy?

Key indicators for IGC Industries Ltd: ROCE of 0.19 % is on the lower side compared to the industry average of 10.78%; ROE of 0.28 % is below ideal levels (industry average: 29.54%). Dividend yield is 0.00 %.

Is IGC Industries Ltd profitable and how is the profit trend?

IGC Industries Ltd reported a net profit of ₹0 Cr in Mar 2025 on revenue of ₹2 Cr. Compared to ₹0 Cr in Mar 2022, the net profit shows a mixed trend.

Does IGC Industries Ltd pay dividends?

IGC Industries Ltd has a dividend yield of 0.00 % at the current price of ₹1.94. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in IGC Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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