| P&L Statement | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 3037 | 3069 | 3325 |
| Cost of Material Consumed | 1923 | 1697 | 1932 |
| Change in Inventory | 18 | 137 | -74 |
| Gross Margins | 36.09 | 40.24 | 44.12 |
| Employee Benefit Expenses | 202 | 219 | 257 |
| Other Expenses | 514 | 534 | 668 |
| EBITDA | 380 | 442 | 542 |
| OPM | 12.51 | 14.4 | 16.3 |
| Other Income | 93 | 108 | 165 |
| Finance Cost | 46 | 39 | 25.5 |
| D&A | 87 | 89 | 91.7 |
| EBIT | 293 | 353 | 450.3 |
| EBIT Margins | 9.65 | 11.5 | 13.54 |
| PBT | 339 | 422 | 589 |
| PBT Margins | 11.16 | 13.75 | 17.71 |
| Tax | 97 | 90 | 137 |
| PAT | 242 | 332 | 452 |
| NPM | 7.97 | 10.82 | 13.59 |
| EPS | 113.62 | 155.87 | 198.86 |
| Financial Ratios | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Profit Margin | 12.51 | 14.4 | 16.3 |
| Net Profit Margin | 7.97 | 10.82 | 13.59 |
| Earning Per Share (Diluted) | 113.62 | 155.87 | 198.86 |
| Assets | 2023 | 2024 | 2025 |
|---|---|---|---|
| Fixed Assets | 698 | 687 | 651 |
| CWIP | 150 | 138 | 140 |
| Investments | 1464 | 2333 | 4768 |
| Trade Receivables | 758 | 903 | 1109 |
| Inventory | 689 | 525 | 584.5 |
| Other Assets | 373.5 | 571 | 750.5 |
| Total Assets | 4132.5 | 5157 | 8003 |
| Liabilities | 2023 | 2024 | 2025 |
|---|---|---|---|
| Share Capital | 21.3 | 21.3 | 22.73 |
| FV | 10 | 10 | 10 |
| Reserves | 2896 | 3973 | 3476 |
| Borrowings | 559 | 363 | 237 |
| Trade Payables | 439 | 477 | 521 |
| Other Liabilities | 217.2 | 322.7 | 3746.27 |
| Total Liabilities | 4132.5 | 5157 | 8003 |
| Cash-Flow Statement | 2023 | 2024 | 2025 |
|---|---|---|---|
| PBT | 295 | 364 | 589 |
| OPBWC | 410 | 470 | 575 |
| Change in Receivables | 26 | -142 | -203 |
| Change in Inventories | -47 | 164 | -59 |
| Change in Payables | -371 | 42 | 84 |
| Other Changes | -2 | -15 | -29 |
| Working Capital Change | -394 | 49 | -207 |
| Cash Generated From Operations | 16 | 519 | 368 |
| Tax | -83 | -93 | -136 |
| Cash Flow From Operations | -67 | 426 | 232 |
| Purchase of PPE | -86 | -66 | -79 |
| Sale of PPE | 1 | 1 | 0.5 |
| Cash Flow From Investment | 1 | 48 | -12 |
| Borrowing | -130 | -195 | -128.4 |
| Dividend | -9 | -21 | -27.28 |
| Equity | 0 | 0 | 36.27 |
| Others From Financing | -45 | -41 | -24.59 |
| Cash Flow from Financing | -184 | -257 | -144 |
| Net Cash Generated | -250 | 217 | 76 |
| Cash at the Start | 391 | 140 | 358 |
| Cash at the End | 141 | 357 | 434 |
Indofil Industries Limited is a leading agrochemical and specialty chemical company with a strong presence in both domestic and international markets. Established as part of the K.K. Modi Group, the company has built a diversified portfolio comprising fungicides, insecticides, herbicides, plant growth regulators, and industrial chemicals. Indofil is particularly known for its flagship fungicide Mancozeb, where it has earned a dominant reputation as one of the world’s largest manufacturers and exporters. With state-of-the-art manufacturing facilities, extensive R&D capabilities, and a customer-centric approach, the company consistently delivers high-quality chemical solutions that cater to farmers, industrial clients, and global formulators alike.
From a business standpoint, Indofil Industries benefits from its integrated operations, strong supply chain, and ability to innovate across both agricultural and industrial chemical segments. The company actively invests in research and development to create advanced formulations suited to diverse crops, climatic conditions, and pest challenges. Its global footprint spans more than 100 countries, supported by long-term partnerships, effective distribution networks, and compliance with international regulatory standards. Indofil also emphasizes sustainable practices, including efficient resource management, environmentally responsible manufacturing, and farmer education programs aimed at promoting safe and effective agrochemical usage. These efforts strengthen the company’s brand reputation and reinforce its competitive positioning in an increasingly regulated industry.
In the unlisted market, Indofil Industries Limited’s shares attract investor interest due to its strong global presence, consistent demand for agrochemicals, and balanced revenue streams across agriculture and specialty chemicals. The company’s leadership in Mancozeb production, expansion into high-value chemical segments, and focus on innovation provide a solid foundation for long-term growth. Additionally, rising global food demand, increased agricultural productivity requirements, and India's growing export opportunities create favorable conditions for the agrochemical sector. For investors seeking exposure to a resilient, export-driven, and diversified chemical business, Indofil’s unlisted shares present a compelling investment opportunity backed by strong fundamentals and a track record of sustainable performance.
1. What are unlisted shares?
Unlisted shares are stocks of companies that are not traded on recognized stock exchanges like the National Stock Exchange or Bombay Stock Exchange. These shares are typically traded privately through brokers or platforms.
2. How can I buy unlisted shares in India?
You can buy unlisted shares through specialized brokers, wealth management firms, or private deals. The shares are transferred to your Demat account via off-market transactions.
3. Are unlisted shares legal in India?
Yes, investing in unlisted shares is completely legal in India, as long as transactions comply with regulations set by the Securities and Exchange Board of India.
4. What are the risks of investing in unlisted shares?
Unlisted shares carry higher risks, including low liquidity, limited transparency, price volatility, and lack of regulatory oversight compared to listed stocks.
5. How is the price of unlisted shares determined?
The price is usually based on company performance, demand-supply, recent funding rounds, and financial valuations. Unlike listed stocks, there is no real-time market pricing.
6. Can unlisted shares become listed in the future?
Yes, companies may go public through an IPO. For example, firms preparing for listing on exchanges like the National Stock Exchange can provide significant returns to early investors.
7. What is the tax treatment of unlisted shares?
Unlisted shares are taxed as capital gains. If held for more than 24 months, they are treated as long-term capital assets and taxed accordingly under Indian tax laws.
8. Do unlisted shares pay dividends?
Yes, some unlisted companies distribute dividends, but it depends on the company’s profitability and policies. Dividend payouts are not guaranteed.
9. Can I sell unlisted shares easily?
Selling unlisted shares can be difficult due to limited buyers and lack of a formal exchange. You typically need a broker or a willing buyer for an off-market transaction.
10. Who should invest in unlisted shares?
Unlisted shares are suitable for high-risk investors with a long-term horizon who understand private market dynamics and can handle liquidity constraints.