Indogulf Cropsciences IPO Review

Indogulf Cropsciences is engaged in the business of manufacturing of crop protection products, plant nutrients and biologicals in India. They manufacture Spiromesifen technical with the minimum purity of 96.5% in 2019. They are also one of the first few indigenous manufacturers of Pyrazosulfuron Ethyl technical, with the minimum purity of 97% indigenously in India and commenced production in 2018. They are also a growing exporter of crop protection, plant nutrients and biologicals products and they exported their products to over 34 countries.

The company is led by a set of experienced Promoters. Om Prakash Aggarwal, Chairman, provides strategic direction to the team and has over 30 years of experience and knowledge of the industry. Sanjay Aggarwal, Managing Director, has been associated with the Company since its inception and has an experience of over 30 years in the industry.

The Revenues from operations for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹  4,663.06 Million, ₹ 5,557.87 Million, ₹  5,521.89 Million and ₹ 4,902.30 Million respectively. The EBITDA for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹  468.95 Million, ₹ 592.97 Million, ₹  515.73 Million, and ₹ 502.63 Million, respectively. The Profit after Tax for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹  217.77 Million, ₹ 284.03 Million, ₹  227.35 Million, and ₹ 262.68 Million respectively. This indicates a steady growth in financial performance.
The Company Key Performance Indicates the pre-issue EPS of ₹ 11.94 and post-issue EPS of ₹ 4.49 for FY24. The pre-issue P/E ratio is 9.30x, while the post-issue P/E ratio is 24.70x against the Industrt P/E ratio is 39x. The company's ROCE for FY24 is 18.82%, ROE for FY24 is 12.19% and RoNW is 12.19%. The Annulaised EPS is ₹ 4.59 and annualised P/E Ratio is 24.16x. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Indogulf Cropsciences showing listing gains of 9.90 %.Given the company's financial performance and the valuation of the IPO, we recommend Risky Investors to Apply to the Indogulf Cropsciences Limited IPO for Listing gain.

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About the Author
CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.