Indofil Industries Limited Unlisted Shares
About Indofil Industries Limited Unlisted Shares
Indofil Industries Limited, with over 50 years of excellence, is a leading player in the agrochemical and specialty chemicals industries. Headquartered in Mumbai, India, the company has earned a reputation for innovation, sustainability, and building long-lasting partnerships. Indofil’s success is rooted in its commitment to research and development, high-quality manufacturing infrastructure, and a vast distribution network that spans both domestic and international markets.
The company operates under two primary divisions: Agricultural Chemicals and Innovative Solutions (IIS), positioning itself as a leader in both sectors. By focusing on customer needs and fostering close collaborations, Indofil is positioned as a forward-thinking, reliable partner for customers worldwide.
Business Divisions:
Indofil operates through two distinct yet interconnected business divisions:
- Agricultural Chemicals Business Division (ABD):
Indofil is a trailblazer in the agrochemical sector, providing a broad spectrum of products, including fungicides, insecticides, herbicides, bactericides, and plant growth regulators. The company’s flagship product, Mancozeb, is globally recognized, with formulations exported to over 120 countries. Indofil’s commitment to providing integrated crop protection solutions has made it a trusted name in enhancing agricultural productivity worldwide. - Indofil Innovative Solutions (IIS):
Catering to diverse industries like leather, textiles, paints, plastics, and construction chemicals, this division focuses on developing high-quality, innovative products tailored to specific customer needs. Indofil has built a strong reputation in the specialty chemicals market by offering bespoke solutions that improve the performance, durability, and sustainability of products across multiple industrial sectors.
Financial Highlights:
Indofil Industries Limited has demonstrated impressive financial performance, highlighted by steady revenue growth, strong profit margins, and efficient cost management. Here are some key financial highlights:
- Revenue Growth: Indofil’s revenue in 2024 reached ₹3,069 crore, showing consistent growth from ₹3,037 crore in 2023 and ₹2,795 crore in 2022. This steady increase in revenue underscores the company’s ability to maintain market leadership and drive growth in its core sectors.
- Gross Margins: Indofil’s gross margin in 2024 stood at 44.71%, a significant improvement from 36.68% in 2023 and 31.99% in 2022. This indicates better cost control and higher efficiency in its manufacturing operations, contributing to enhanced profitability.
- Profit After Tax (PAT): The company posted a PAT of ₹332 crore in 2024, a sharp rise from ₹242 crore in 2023 and ₹219 crore in 2022. The growth in net profit margin (NPM) from 7.97% in 2023 to 10.82% in 2024 highlights Indofil’s improved operational efficiency and market performance.
- Earnings Per Share (EPS): Indofil’s EPS for 2024 was ₹155.87, marking a strong increase from ₹113.62 in 2023 and ₹102.82 in 2022. This growth in EPS indicates the company’s capacity to generate strong returns for its shareholders, making Indofil Industries Limited Unlisted Shares an attractive investment option.
- Return on Equity (ROE): Indofil’s ROE stood at 8.31% in 2024, reflecting effective utilization of shareholder equity to generate profits. The company’s focus on expanding its portfolio and improving profitability has led to an increase in ROE over the years.
Pros
- Strong Global Presence: Established international footprint in key markets like Brazil, Europe, and Asia-Pacific.
- Commitment to Sustainability: Focus on eco-friendly practices ensures long-term viability and growth.
- Robust Financial Health: Consistent revenue growth and healthy profit margins provide financial stability for innovation and expansion.
Cons
- Market Volatility: Fluctuations in raw material prices and seasonal demand affect profitability.
- Regulatory Compliance: Evolving regulations increase operational costs and affect product development.
- Currency Fluctuations: Exchange rate instability impacts profit margins in international markets.
Key Details
| Share Name | Particulars |
|---|---|
| Indofil Industries Limited Unlisted | N/A |
| Shares Price | Per Equity Share |
| Lot Size | 25 Shares |
| 52 Week High | ₹ 1550 |
| 52 Week Low | ₹ 685 |
| Depository | NSDL & CDSL |
| PAN Number | AABCI4568D |
| ISIN Number | INE071I01016 |
| CIN | U24110MH1993PLC070713 |
| RTA | MAS Services Limited |
| Fundamentals | Value |
|---|---|
| Market Cap (in cr.) | #VALUE! |
| P/E Ratio | #VALUE! |
| P/B Ratio | #VALUE! |
| Debt to Equity | 0.09 |
| ROE (%) | 8.31 |
| Book Value | 1744.1 |
| EPS | 155.87 |
| Face Value | 10 |
| Total Shares | 22958222 |
Financials
| P&L Statement | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenue | 3069 | 3037 | 2795 |
| Cost of Material Consumed | 1697 | 1923 | 1901 |
| Gross Margins | 44.71 | 36.68 | 31.99 |
| Change in Inventory | 137 | 18 | -262 |
| Employee Benefit Expenses | 219 | 202 | 219 |
| Other Expenses | 574 | 514 | 580 |
| EBITDA | 442 | 380 | 357 |
| OPM | 14.4 | 12.51 | 12.77 |
| Other Income | 108 | 93 | 87 |
| Finance Cost | 39 | 46 | 45 |
| D&A | 89 | 87 | 90 |
| EBIT | 353 | 293 | 267 |
| EBIT Margins | 11.5 | 9.65 | 9.55 |
| PBT | 422 | 339 | 308 |
| PBT Margins | 13.75 | 11.16 | 11.02 |
| Tax | 90 | 97 | 89 |
| PAT | 332 | 242 | 219 |
| NPM | 10.82 | 7.97 | 7.84 |
| EPS | 155.87 | 113.62 | 102.82 |
| Ratio | FY24 | FY23 | FY22 |
|---|---|---|---|
| Operating Margin | 13% | 11% | 12.00% |
| Net Profit Margin | 11% | 8% | 8.00% |
| Return on Equity | 8% | 8% | 10.00% |
| Debt-Equity | 0.09 | 0.19 | 0.31 |
| Current Ratio | 2.27 | 1.91 | 1.53 |
| Dividend Payout | 6% | 3% | 5% |
| Company | Indofil Industries Ltd | UPL Ltd | PI Industries Ltd |
|---|---|---|---|
| Market Cap (₹ Crores) | 3329 | 39944 | 66269 |
| Profitability Margin (%) | 11% | -4% | 22% |
| ROCE (%) | 9% | 3% | 24% |
| ROE (%) | 8% | -4% | 21% |
| D/E Ratio | 0.09 | 1.20 | 0.02 |
| P/E Ratio | 9.32 | 0 | 37.9 |
| P/B Ratio | 0.83 | 1.61 | 7.58 |
| Book Value per Share (₹) | 1739.83 | 330 | 575 |
| Assets | 2024 | 2023 | 2022 |
|---|---|---|---|
| Fixed Assets | 687 | 698 | 602 |
| CWIP | 138 | 150 | 119 |
| Investments | 2333 | 1464 | 899 |
| Trade Receivables | 903 | 758 | 785 |
| Inventory | 525 | 689 | 641 |
| Other Assets | 571 | 373.5 | 798 |
| Total Assets | 5157 | 4132.5 | 3844 |
| Liabilities | 2024 | 2023 | 2022 |
|---|---|---|---|
| Share Capital | 21.3 | 21.3 | 21.3 |
| FV | 10 | 10 | 10 |
| Reserves | 3973 | 2896 | 2199 |
| Borrowings | 363 | 559 | 679 |
| Trade Payables | 477 | 439 | 818 |
| Other Liabilities | 322.7 | 217.2 | 126.7 |
| Total Liabilities | 5157 | 4132.5 | 3844 |
Promoters or Management
| Name | Designation | Experience | LinkedIn Profile |
|---|---|---|---|
| Pankaj Kumar Bansal, IAS | Chairman | 25+ | — |
| P.S. Gahlaut | MD | 30+ | — |
| R. Srinivasan | CFO | 20+ | — |
Frequently Asked Questions
Instability has resulted from the ongoing legal dispute between Bina Modi, the chairman and managing director, and her sons, Lalit and Samir Modi, regarding the distribution of family assets, such as Indofil, Godfrey Phillips, and Modi Mills. Because it affects the governance and strategic direction of the participating companies, investors are leery of this internal struggle. The uncertainty around ownership and control erodes investor confidence even more.
An initial public offering (IPO) is a significant way for investors to leave the unlisted market, but investors are apprehensive because Indofil has no known IPO intentions. The lack of an impending initial public offering (IPO) restricts liquidity and makes it challenging for investors to withdraw, which further dampens demand and, in turn, lowers the company’s valuation. Together, these two elements explain why Indofil is not receiving the higher valuations that its agrochemical industry peers are.
For the Year ended March 2024, Agrochemicals contributed 85% of the total revenue whereas 15% was contributed by Innovative solution chemicals. Geographically speaking, 54% of the revenue originated from India whereas 46% came from exports.
