As of 6 Nov 2026, IVP trades at 5.6× trailing earnings, below the industry P/E of 22.1×, and the shares are 31% below their 52-week high. Sales and net profit fell 3.4% and 13% a year over 3 years, with ROCE of 21% and ROE of 20%. Debt is 0.45× equity, and its dividend yield is 0.9%. It is a small-cap company with a market cap of ₹176 Cr, ranked 133rd of 204 Specialty Chemicals companies by market cap; the shares rose 1.7% over the past year.
- ₹173.20
- ₹174.94
- ₹169.90
- ₹170.81
- 9.5K
Health check
- ReturnsBehind
+1.7% over a year, better than 2 of 7 peers.
- Price tagCheaper
P/E 5.6 vs industry 22.1.
- GrowthShrinking
Sales −3.4%, profit −12.6% a year over 3 years.
- ProfitabilityAverage
ROCE 20.5% vs peer median 24.4%.
- Balance sheetFair
Debt 0.45× equity, interest covered 4.4×, Piotroski 9 of 9.
- Red flags1 to check
31% below its 52-week high.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹176 Cr
- Small cap
- P/E
- 5.6
- Industry 22.1
- Price to book
- 1.01
- Peers 13.33
- Dividend yield
- 0.88%
- ROE
- 20.2%
- Peers 23.0%
- ROCE
- 20.5%
- Peers 24.4%
- Debt to equity
- 0.45
- Debt ₹79 Cr
- EPS (TTM)
- ₹30.50
- Face value ₹10
- OPM (TTM)
- 8.4%
- Net margin 5.1%
- Sales growth
- +12.0%
- Latest quarter vs a year ago
- Profit growth
- +1078.2%
- Latest quarter vs a year ago
- Price to sales
- 0.28
- EV/EBITDA 4.8
Strengths and risks
Strengths
- Return on equity of 20.2%.
- Return on capital employed of 20.5%.
- Quarterly profit up 1078.2% on a year ago.
- P/E of 5.6 against an industry P/E of 22.1.
Risks to check
- 31% below its 52-week high.
About IVP
IVP Limited engages in the manufacture and distributes chemicals in India. The company offers polyurethane systems for footwear; adhesives for flexible packaging industry; and foundry chemicals, coatings, composites, refractory, powder, and insulation resin products. IVP Limited was incorporated in 1929 and is based in Mumbai, India.
- Headquarters
- Mumbai
- Employees
- 202
- Sector
- Basic Materials
- ISIN
- INE043C01018
- Website
- ivpindia.com
Price range
- Avg volume (3M)
- 23K
- 1-year return
- plus 1.7%
- From 52-week high
- minus 31.3%
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% |
| IVPIVP | 170.22 | minus 0.35% | 176 | 5.6 | 6.5 | 20.5% | 8.4% | 0.42 | −3.4% | plus 1.7% |
| 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 |
|---|---|---|---|---|---|
| 138 | 147 | 145 | 164 | 155 | |
| 134 | 139 | 136 | 151 | 134 | |
| 4.3 | 8.1 | 8.7 | 13.7 | 20.6 | |
| 3.1% | 5.5% | 6.0% | 8.3% | 13.3% | |
| 1.1 | 0.9 | 1.2 | 1.1 | 1.1 | |
| 2.1 | 2.2 | 1.7 | 1.4 | 1.4 | |
| 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | |
| – | – | −0.5 | – | – | |
| 1.7 | 5.3 | 6.2 | 12 | 18.8 | |
| 30.0% | 24.5% | 25.1% | 25.9% | 25.3% | |
| 1.2 | 4 | 4.6 | 8.9 | 14 | |
| 1.15 | 3.87 | 4.48 | 8.58 | 13.57 |
Profit & loss
- Sales CAGR 3Y
- −3.4%
- Profit CAGR 3Y
- −12.6%
- EPS CAGR 3Y
- −12.6%
- ROE
- 20.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 660 | 545 | 538 | 594 | |
| – | minus 17.3% | minus 1.3% | +10.3% | |
| 618 | 516 | 511 | 557 | |
| 41.9 | 29 | 26.8 | 36.4 | |
| 6.4% | 5.3% | 5.0% | 6.1% | |
| 2.9 | 3 | 3.6 | 4.3 | |
| 12.2 | 8.7 | 7.8 | 7.4 | |
| 5.2 | 5.5 | 5.7 | 6 | |
| 10.6 | −1.2 | −1.6 | −2.1 | |
| 38 | 16.6 | 15.3 | 25.1 | |
| 26.2% | 26.2% | 25.9% | 25.7% | |
| 28 | 12.3 | 11.3 | 18.7 | |
| – | minus 56.2% | minus 7.9% | +65.2% | |
| 27.13 | 11.89 | 10.96 | 18.09 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 10.3 | 10.3 | 10.3 | 10.3 | |
| 108 | 119 | 129 | 147 | |
| 120 | 89.3 | 104 | 65.4 | |
| 145 | 112 | 104 | 120 | |
| 384 | 331 | 348 | 342 | |
| 75.5 | 73.3 | 70.7 | 67.5 | |
| 2.2 | 2.1 | 0.3 | 1.3 | |
| 0.1 | 1.2 | 0.1 | 0.1 | |
| 0.6 | 2 | 1.1 | 3.1 | |
| 305 | 252 | 275 | 270 | |
| 384 | 331 | 348 | 342 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 40.6 | 45.4 | −2.5 | 52.7 | |
| 9.9 | −3.5 | −4.7 | −2.6 | |
| −50.7 | −40.6 | 6.3 | −48.1 | |
| −0.1 | 1.4 | −0.9 | 2.1 | |
| −5.6 | −3.6 | −4.8 | −2.8 | |
| 35.1 | 41.8 | −7.3 | 49.9 | |
| −1.6 | −1.6 | −1 | −1 |
Shareholding pattern
- Promoters71.32%
- Public28.68%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 71.32% | 28.68% | 0.00 | |
| 30 Jun 2026 | 71.32% | 28.68% | 0.00 | |
| 31 Mar 2026 | 71.32% | 28.68% | 0.00 | |
| 31 Dec 2025 | 71.32% | 28.68% | 0.00 | |
| 30 Sep 2025 | 71.32% | 28.68% | – |
Major shareholders
Filings & events
News
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