As of 6 Nov 2026, India Gelatine & Chemicals trades at 9.6× trailing earnings, below the industry P/E of 22.1×, and the shares are 16% below their 52-week high. Its ROCE of 16% is the second-lowest among the 7 largest Specialty Chemicals peers, and sales fell 5.9% a year over 3 years while net profit grew 1.6%. It has almost no debt, and its dividend yield is 1.7%. It is a small-cap company with a market cap of ₹250 Cr, ranked 121st of 204 Specialty Chemicals companies by market cap; the shares rose 10% over the past year.
- ₹347.00
- ₹359.95
- ₹347.00
- ₹351.85
- 805
Health check
- ReturnsIn line
+10.5% over a year, better than 4 of 7 peers.
- Price tagCheaper
P/E 9.6 vs industry 22.1.
- GrowthSlow
Sales −5.9%, profit +1.6% a year over 3 years.
- ProfitabilityWeak
ROCE 16.2% vs peer median 24.4%.
- Balance sheetSolid
Practically debt-free, Piotroski 8 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹250 Cr
- Small cap
- P/E
- 9.6
- Industry 22.1
- Price to book
- 1.22
- Peers 13.33
- Dividend yield
- 1.70%
- ROE
- 13.9%
- Peers 23.0%
- ROCE
- 16.2%
- Peers 24.4%
- Debt to equity
- 0.01
- Debt ₹2.73 Cr
- EPS (TTM)
- ₹36.80
- OPM (TTM)
- 17.4%
- Net margin 15.4%
- Sales growth
- +16.8%
- Latest quarter vs a year ago
- Profit growth
- +14.2%
- Latest quarter vs a year ago
- Price to sales
- 1.43
- EV/EBITDA 5.4
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly sales up 16.8% on a year ago.
- P/E of 9.6 against an industry P/E of 22.1.
- Positive operating cash flow in each of the last 4 years.
About India Gelatine & Chemicals
India Gelatine & Chemicals Limited engages in the manufacture and sale of chemical products in India, the Far East, Europe, and internationally. It provides edible, photographic, technical, and pharmaceutical gelatin; ossein; and di-calcium phosphate products, as well as offers collagen-based products. The company also exports its products. India Gelatine & Chemicals Limited was incorporated in 1973 and is headquartered in Mumbai, India.
- Headquarters
- Mumbai
- Employees
- 103
- Sector
- Basic Materials
- ISIN
- INE342D01012
- Website
- indiagelatine.com
Price range
- Avg volume (3M)
- 1.9K
- 1-year return
- plus 10.5%
- From 52-week high
- minus 15.8%
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 15.3% | 0.15 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.1% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| INDGELAIndia Gelatine & Chemicals | 352.10 | plus 0.07% | 250 | 9.6 | 6.7 | 16.2% | 17.4% | 0.02 | −5.9% | plus 10.5% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.1% | 0.21 | 5.8% | 6.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 39.1 | 46.9 | 44.8 | 39 | 45.7 | |
| 31.2 | 38.3 | 37.1 | 34 | 36.3 | |
| 7.9 | 8.6 | 7.7 | 5 | 9.4 | |
| 20.2% | 18.4% | 17.1% | 12.8% | 20.6% | |
| 2.2 | 1.8 | 2 | 2.3 | 2.4 | |
| 0.1 | 0.1 | 0.1 | 0.2 | 0.1 | |
| 1.2 | 1.2 | 1.1 | 1.1 | 1.1 | |
| 8.8 | 9.2 | 8.5 | 6 | 10.6 | |
| 19.9% | 30.0% | 16.9% | 25.7% | 24.1% | |
| 7.1 | 6.4 | 7.1 | 4.5 | 8.1 | |
| 9.99 | 9.08 | 10.01 | 6.31 | 11.40 |
Profit & loss
- Sales CAGR 3Y
- −5.9%
- Profit CAGR 3Y
- +1.6%
- EPS CAGR 3Y
- +1.6%
- ROE
- 13.9%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 203 | 206 | 198 | 169 | |
| – | +1.2% | minus 4.0% | minus 14.4% | |
| 170 | 171 | 176 | 140 | |
| 33.5 | 35 | 21.2 | 29.3 | |
| 16.5% | 17.0% | 10.7% | 17.3% | |
| 1.9 | 4.1 | 7.3 | 3 | |
| 0.3 | 0.6 | 0.4 | 0.3 | |
| 3.9 | 5.3 | 5.5 | 4.5 | |
| 0.8 | 4 | – | 5.1 | |
| 32.1 | 37.3 | 22.6 | 32.6 | |
| 25.5% | 23.8% | 23.2% | 23.0% | |
| 23.9 | 28.4 | 17.4 | 25.1 | |
| – | +18.8% | minus 38.7% | +44.4% | |
| 33.70 | 40.03 | 24.52 | 35.39 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 7.1 | 7.1 | 7.1 | 7.1 | |
| 129 | 147 | 164 | 186 | |
| 10.1 | 8 | 5.8 | 4.1 | |
| 33.5 | 22.3 | 17.2 | 19.5 | |
| 180 | 184 | 195 | 217 | |
| 65.2 | 70.9 | 68.9 | 81.5 | |
| 5.3 | 2.1 | 0.7 | 20.6 | |
| 19.4 | 17.9 | 20.6 | 8.5 | |
| 29 | 28.8 | 43.2 | 59 | |
| 61.1 | 64.7 | 61.1 | 47.5 | |
| 180 | 184 | 195 | 217 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 17.8 | 18.4 | 21 | 27.8 | |
| −21.2 | −7.7 | −17.5 | −22.9 | |
| 6.6 | −13.3 | −3.6 | −6.6 | |
| 3.2 | −2.6 | −0.1 | −1.7 | |
| −24.3 | −15.3 | −12.2 | −15.2 | |
| −6.4 | 3.1 | 8.8 | 12.6 | |
| −1.8 | −10.5 | −0.8 | −3.5 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.