Indogulf Cropsciences Ltd. (IGCL.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-166.5%

-₹41.33

vs ₹62.17 price

Levered DCF

-₹187.73

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	8.79×	17.11×	24.69×	31.08×	26.46×
P/B	0.77×	1.96×	3.01×	3.43×	3.86×
P/S	0.5×	0.91×	1.27×	1.27×	1.43×
EV / EBITDA	6.41×	10.9×	14.58×	17.54×	16.19×
Gross margin	21.3%	17.6%	28.0%	25.3%	25.6%
Operating margin	8.9%	9.6%	8.8%	7.8%	7.9%
Net margin	5.7%	5.3%	5.1%	4.1%	5.4%
Current ratio	1.91×	1.53×	1.61×	1.5×	1.55×
Debt / equity	0.4×	0.84×	0.69×	0.96×	0.59×
Interest coverage	3.67×	3.91×	3.94×	3.89×	7.21×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	8.7%	11.4%	12.2%	11.0%	14.6%
Return on invested capital	7.2%	7.8%	9.6%	7.8%	9.7%
Return on assets	4.8%	4.6%	5.2%	4.3%	6.4%
Free cash flow yield	-23.8%	-13.1%	4.1%	-11.1%	-2.9%
Earnings yield	11.4%	5.8%	4.0%	3.2%	3.8%
Enterprise value	₹5.2B	₹7.6B	₹8.6B	₹8.9B	₹8B
Net debt / EBITDA	2.09×	3.18×	2.7×	3.83×	2.13×
Cash conversion cycle (days)	266	245	230	231	158