I G Petrochemicals Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,733 Cr
- P/E
- 10.29
- ROE
- 0.16%
- PEG
- -0.14
- Price to sales
- 0.74
- Debt to equity
- 0.21
- 52W high / low
- ₹593 / ₹329
- Sales growth (5Y)
- 11.37%
- EBITDA margin
- 13.51%
- Net profit margin
- 0.11%
- Promoter holding
- 68.74%
- Sales (last year)
- ₹2,366 Cr
Guidance scorecard · Q2 FY27 call
What I G Petrochems's management guided
RevenueQ2 FY27 call
20–40%- FY27 volume guidance: around 2 lakh tons (±3%-4%), with expected improvement in second half.
- FY28 volume expectation: 210,000 to 215,000 tons available for sale after accounting for 20,000-25,000 tons consumed in plasticizer and DEP production.
- Plasticizer ramp-up: expected 1,000 to 1,500 tons/month by end of current quarter; target 40,000 to 50,000 tons in FY28, potentially reaching 60,000 to 75,000 tons by FY29.
- Expanded DEP capacity and new CBG plant contribute to growth potential.
- Domestic demand strong in segments like paint, pigments, plasticizer, UPR, specialty chemicals, and agrochemicals.
2 more points from I G Petrochems's call on revenue
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MarginsQ2 FY27 call
FlatSee what I G Petrochems said on margins — free account, 30 seconds.
CapexQ2 FY27 call
Planned- Current capex focus is on stabilizing the new plasticizer plant, which started production on September 30, 2026, with an initial capacity of 75,000 tons.
- Expanded DEP capacity from ~8,000 tons to 12,000 tons through debottlenecking; expecting meaningful contribution over next 4-5 years.
- CBG (Compressed Bio Gas) plant has been set up and expected to start operations by end of December 2026, supporting sustainable growth.
- Exploring various downstream chemistries and adjacent business opportunities to expand portfolio.
- Any future capex or strategic investments will be carefully evaluated based on a minimum IRR of 15%.
2 more points from I G Petrochems's call on capex
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FundraisingQ2 FY27 call
See what I G Petrochems said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
- Demand across key segments such as paint, pigments, plasticizer, and UPR is doing well with robust growth.
- Plasticizer plant recently started; initial supply planned for 1,000 to 1,500 tons with expected growth to 40,000-50,000 tons next year.
- Volumes expected to be between 185,000 to 195,000 tons for FY27; projected increase to approximately 210,000 to 215,000 tons available for sale in FY28 after internal consumption.
- Capacity utilization of existing plants around 90%-91%.
2 more points from I G Petrochems's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
I G Petrochemicals latest results (Sep 2026)
Revenue
₹759 Cr
+63% YoY
Net profit
₹85 Cr
Operating margin
17%
EPS
₹27.61
I G Petrochemicals shareholding (Sep 2026)
Promoters
68.74%
unchanged QoQ
FIIs
2.88%
+0.21 pp QoQ
DIIs
1.59%
−0.02 pp QoQ
Public
26.80%
−0.19 pp QoQ
Financials of I G Petrochems
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
I G Petrochems
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 68.74% | 68.74% | 68.74% | 68.74% | 68.74% | 68.74% | 68.74% | 68.74% | 68.74% | 68.74% | 68.74% | 68.74% |
| FIIs + | 3.42% | 3.00% | 2.50% | 2.73% | 2.79% | 3.09% | 3.12% | 2.96% | 2.88% | 2.92% | 2.67% | 2.88% |
| DIIs + | 1.79% | 1.79% | 2.16% | 2.70% | 2.64% | 1.44% | 0.96% | 0.96% | 1.20% | 1.45% | 1.61% | 1.59% |
| Public + | 26.05% | 26.47% | 26.61% | 25.84% | 25.82% | 26.73% | 27.19% | 27.35% | 27.19% | 26.89% | 26.99% | 26.80% |
| No. of Shareholders | 37,398 | 37,726 | 36,045 | 34,809 | 33,619 | 33,901 | 34,735 | 35,425 | 35,243 | 34,364 | 33,319 | 30,887 |
Financials of I G Petrochems
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 502 | 488 | 554 | 585 | 583 | 558 | 480 | 470 | 465 | 465 | 524 | 618 | 759 |
| YoY Sales growth | -12% | -6% | -8% | +5% | +16% | +14% | -13% | -20% | -20% | -17% | +9% | +31% | +63% |
| Expenses + | 476 | 494 | 528 | 523 | 520 | 511 | 433 | 471 | 445 | 457 | 458 | 506 | 627 |
| Operating Profit | 26 | -6 | 26 | 62 | 63 | 47 | 47 | -1 | 20 | 8 | 67 | 112 | 132 |
| OPM % | 5% | -1.2% | 4.7% | 11% | 11% | 8% | 10% | -0.1% | 4.3% | 1.8% | 13% | 18% | 17% |
| Other Income + | 7 | 7 | 9 | 9 | 4 | 8 | 5 | 10 | 6 | 5 | 5 | 7 | 10 |
| Interest | 7 | 8 | 9 | 9 | 16 | 3 | 11 | 9 | 11 | 10 | 11 | 11 | 9 |
| Depreciation | 13 | 12 | 15 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 20 | 18 | 18 |
| Profit before tax | 14 | -20 | 11 | 45 | 34 | 36 | 25 | -16 | -1 | -13 | 40 | 90 | 116 |
| Tax % | 28% | -24% | 20% | 23% | 24% | 21% | 23% | -17% | 42% | -16% | 30% | 26% | 26% |
| Net Profit + | 10 | -15 | 9 | 35 | 26 | 29 | 19 | -13 | -2 | -11 | 28 | 66 | 85 |
| EPS in Rs | 3.27 | -4.95 | 2.94 | 11.37 | 8.50 | 9.27 | 6.16 | -4.22 | -0.65 | -3.53 | 9.12 | 21.58 | 27.61 |
Financials of I G Petrochems
Profit & Loss
Annual income statement trend
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 953 | 1,037 | 1,144 | 1,304 | 1,059 | 1,124 | 1,883 | 2,352 | 2,099 | 2,206 | 1,925 | 2,366 |
| Sales growth | +9% | +10% | +14% | -19% | +6% | +68% | +25% | -11% | +5% | -13% | +20% | |
| Expenses + | 840 | 869 | 877 | 1,078 | 987 | 825 | 1,476 | 2,035 | 1,994 | 1,985 | 1,824 | 2,047 |
| Operating Profit | 113 | 168 | 267 | 226 | 72 | 299 | 407 | 318 | 105 | 221 | 101 | 320 |
| OPM % | 12% | 16% | 23% | 17% | 7% | 27% | 22% | 14% | 5% | 10% | 5% | 14% |
| Other Income + | 4 | 3 | 4 | -1 | 6 | 3 | 6 | 22 | 30 | 24 | 20 | 27 |
| Interest | 23 | 18 | 15 | 12 | 16 | 15 | 13 | 24 | 30 | 39 | 41 | 41 |
| Depreciation | 18 | 21 | 26 | 26 | 30 | 34 | 44 | 47 | 52 | 65 | 69 | 72 |
| Profit before tax | 77 | 132 | 230 | 187 | 32 | 253 | 356 | 268 | 53 | 141 | 10 | 233 |
| Tax % | 21% | 23% | 37% | 37% | 35% | 26% | 26% | 25% | 26% | 23% | 79% | |
| Net Profit + | 60 | 102 | 146 | 117 | 21 | 188 | 264 | 200 | 40 | 109 | 2 | 169 |
| EPS in Rs | 19.55 | 32.98 | 47.42 | 37.94 | 6.78 | 61.08 | 85.89 | 64.95 | 12.83 | 35.30 | 0.72 | 54.78 |
| Dividend Payout % | 10% | 0% | 8% | 11% | 30% | 12% | 12% | 15% | 58% | 28% | 694% |
Financials of I G Petrochems
Balance Sheet
Capital structure and asset base
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 |
| Reserves | 261 | 361 | 497 | 598 | 602 | 791 | 1,031 | 1,204 | 1,216 | 1,308 | 1,302 | 1,441 |
| Borrowings + | 116 | 82 | 87 | 194 | 230 | 165 | 173 | 254 | 368 | 269 | 362 | 312 |
| Other Liabilities + | 171 | 184 | 245 | 323 | 299 | 337 | 416 | 503 | 520 | 603 | 606 | 574 |
| Total Liabilities | 578 | 658 | 860 | 1,146 | 1,161 | 1,324 | 1,651 | 1,992 | 2,135 | 2,211 | 2,300 | 2,358 |
| Fixed Assets + | 322 | 324 | 403 | 389 | 471 | 702 | 736 | 717 | 1,030 | 1,016 | 1,182 | 1,382 |
| CWIP | 4 | 11 | 89 | 283 | 339 | 132 | 118 | 349 | 158 | 234 | 173 | 35 |
| Investments | 0 | 17 | 60 | 70 | 12 | 16 | 81 | 182 | 144 | 134 | 88 | 97 |
| Other Assets + | 252 | 306 | 308 | 404 | 339 | 475 | 716 | 745 | 803 | 826 | 858 | 845 |
| Total Assets | 578 | 658 | 860 | 1,146 | 1,161 | 1,324 | 1,651 | 1,992 | 2,135 | 2,211 | 2,300 | 2,358 |
Financials of I G Petrochems
Cash Flows
Operating, investing and financing cash movement
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 69 | 94 | 201 | 139 | 84 | 183 | 109 | 233 | 37 | 261 | 102 |
| Cash from Investing Activity + | -6 | -42 | -164 | -216 | -104 | -72 | -106 | -255 | -115 | -92 | -89 |
| Cash from Financing Activity + | -64 | -50 | -35 | 58 | 35 | -80 | -19 | 21 | 48 | -138 | -53 |
| Net Cash Flow | -1 | 2 | 2 | -19 | 15 | 30 | -15 | -2 | -29 | 31 | -39 |
| Free Cash Flow | 60 | 66 | 77 | -73 | -84 | 113 | 11 | -7 | -136 | 125 | -60 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 76% | 73% | 95% | 84% | 127% | 82% | 46% | 92% | 43% | 125% | 108% |
Financials of I G Petrochems
Ratios
Working capital efficiency and return ratios
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 42 | 53 | 44 | 51 | 49 | 65 | 67 | 50 | 59 | 47 | 66 |
| Inventory Days | 45 | 47 | 47 | 52 | 42 | 81 | 45 | 34 | 42 | 64 | 50 |
| Days Payable | 77 | 83 | 75 | 92 | 89 | 124 | 87 | 76 | 79 | 98 | 94 |
| Cash Conversion Cycle | 10 | 17 | 16 | 11 | 3 | 21 | 25 | 8 | 21 | 13 | 23 |
| Working Capital Days | 8 | 20 | 9 | 2 | -10 | 8 | 23 | 3 | 2 | 1 | -3 |
| ROCE % | 34% | 45% | 29% | 5% | 29% | 33% | 21% | 5% | 11% | 3% |
Guidance history
How I G Petrochems's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 20–40% | Flat | Planned | — | — |
| Q1 FY27 call → | 10–20% | Flat | Planned | — | — |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
40 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,937 stocks |
|---|---|---|
| Last 12 months | +45.5% | 82% |
| Last 6 months | +26.8% | 76% |
| Last 3 months | +22.9% | 89% |
The price is 38.8% below its all-time high of ₹920.65 (8 Oct 2021). Stocks more than 20% below their peak have their score halved, so 81 became 40.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,937 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For I G Petrochems: 0.4 × 82 + 0.4 × 76 + 0.2 × 89 = 81, halved to 40 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 13 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
I G Petrochemicals: frequently asked questions
What is I G Petrochemicals share price today?
I G Petrochemicals last traded at ₹563.4, with a market capitalisation of ₹1,733 Cr and a P/E ratio of 10.3.
What were I G Petrochemicals's latest quarterly results?
For the quarter ended Sep 2026, I G Petrochemicals reported revenue of ₹759 Cr (+63% year on year) and net profit of ₹85 Cr, with an operating margin of 17%.
Is I G Petrochemicals's profit growing?
Net profit was ₹85 Cr in Sep 2026 against ₹-2 Cr in Sep 2025.
What is I G Petrochemicals's EPS?
I G Petrochemicals's earnings per share for the quarter ended Sep 2026 was ₹27.61.
What is the promoter holding in I G Petrochemicals?
Promoters held 68.74% of I G Petrochemicals in Sep 2026 (unchanged versus Jun 2026).
How much do FIIs and DIIs hold in I G Petrochemicals?
In Sep 2026, foreign institutional investors held 2.88% and domestic institutions (including mutual funds) held 1.59% of I G Petrochemicals.
What is I G Petrochemicals's ROE and ROCE?
I G Petrochemicals's return on equity is 0.16% and its return on capital employed is 3.11%.
Does I G Petrochemicals pay a dividend?
Yes. I G Petrochemicals's dividend yield is 1.7% at the current price. The full payout history is on the I G Petrochemicals dividends page.
What did I G Petrochemicals's management say on the latest earnings call?
Arthneeti's analysis of the Q2 FY27 earnings call covers revenue, margins, capex and fundraising guidance from I G Petrochemicals's management.
How does Arthneeti AI analyse I G Petrochemicals?
Arthneeti reads I G Petrochemicals's earnings call transcripts and filings and scores revenue growth, margins, capex and fundraising, then ranks the company against its sector.