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IGCL IPO

Indogulf Cropsciences Limited

IPO Doc

Start Date26-06-2025

Application Timing10am-5pm

Price Range₹105 - ₹111

Min Qty135

Min. Investment₹14175

Listing DateNA

Close Date30-06-2025

About Indogulf Cropsciences Limited

Indogulf Cropsciences Limited, incorporated in 1993, is a leading agrochemical company engaged in the manufacturing of crop protection products, plant nutrients, and biologicals. The company has a diversified product portfolio that includes insecticides, fungicides, herbicides, bio-stimulants, and specialty fertilizers.

It operates four state-of-the-art manufacturing facilities located in Samba (Jammu & Kashmir) and Nathupur & Barwasni (Haryana), spread across 20 acres. With a robust pan-India presence covering 22 states and 3 Union Territories, it has built a solid distribution network of 169 business partners and over 5,700 distributors. Globally, the company has partnered with 129 associates across 34 countries.

Indogulf was among the first indigenous manufacturers of Pyrazosulfuron Ethyl and Spiromesifen Technical in India, which positions it as an innovator in the agrochemical space. Its strength lies in backward-integrated infrastructure, in-house R&D, and regulatory expertise crucial in this high-barrier industry.

Why To Invest in Indogulf Cropsciences Limited

Diversified Product Line: Operates in three verticals crop protection, plant nutrition, and biologicals ensuring business stability and growth potential.

Strong Financials: With a PAT of 28.23 Cr in FY24 and EBITDA of 55.74 Cr, the company demonstrates healthy margins and profitability.

Large Distribution Network: Stronghold in both domestic and international markets with an expanding footprint.

Backward Integration & R&D Strength: Ensures cost control and product innovation capability.

IPO Utilization for Growth: Proceeds to be used for debt reduction, working capital, and setting up a new Dry Flowable (DF) plant indicative of future expansion.

Financial Table

Period Ended	31 Dec 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	597.81	542.25	517.51	413.59
Revenue	466.31	555.79	552.19	490.23
Profit After Tax	21.68	28.23	22.42	26.36
EBITDA	44.78	55.74	49.04	47.24
Net Worth	265.43	231.65	203.25	180.51
Reserves and Surplus	216.64	208.01	179.60	156.87
Total Borrowing	206.30	154.56	189.22	101.38

Strengths And Risks

Comprehensive Product Portfolio: Covers all key agrochemical verticals with innovative formulations.

Established Manufacturing Base: Integrated and regulatory-compliant units with flexibility to scale.

Consistent Financial Performance: PAT, EBITDA, and Net Worth have shown year-on-year improvement.

Experienced Management: Run by seasoned promoters and domain experts.

Seasonal Dependency: Business depends on monsoons and cropping patterns, leading to cyclical revenue.

Regulatory Challenges: Agrochemical industry is tightly regulated, which could delay product launches.

Debt Exposure: Although proceeds are allocated for repayment, current borrowings stand at 154.56 Cr (FY24).

Competitive Landscape: Faces stiff competition from domestic and multinational players.

Raw Material Volatility: Fluctuations in raw material costs can impact profitability.

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Company

Astha Credit & Securities Pvt Ltd NSE, BSE & MCX SEBI Reg No:

INZ000187932

Membership ID:

NSE - 12227 BSE-6844 MCX - 40000 NSDL-IN303420 CDSL-94500

CIN:

U65929MP2003PTC016241

SEBI Depository Participant Reg No:

IN-DP-611-2021

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SEBI RA Registration:

INH000013332

AMFI Registration:

ARN-35911

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We do proprietary trading

Client Bank Account Details:

Sr. No	Name of Bank Account	Bank Account Number	IFSC Code
1	ASTHA CREDIT AND SECURITIES P LTD - USCNBA A/c	00620340000150	HDFC0000062

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IGCL IPO

About Indogulf Cropsciences Limited

Why To Invest in Indogulf Cropsciences Limited