Multibagger stock India Glycols declined more than 3% in intraday trade on the BSE on Wednesday, 19 August, looking set to snap its four-day winning run. India Glycols share price opened at ₹1,152.40 against its previous close of ₹1,138.60 and declined 3.3% to an intraday low of ₹1,101.05.
India Glycols share price trend
As per the BSE data, India Glycols shares are up 10% year-to-date, compared to a 10% drop in the equity benchmark Sensex.
Over a longer timeframe of three years, the stock has delivered a multibagger return of 216%, while in the last 10 years, the stock has surged 2,198%.
India Glycols Q1 results
On 12 August, India Glycols reported double-digit growth in revenue, EBITDA, and profit after tax (PAT) for Q1FY27, supported by a balanced portfolio and improving profitability.
The company’s consolidated revenue from operations for the June quarter rose 19.4% year-on-year (YoY) to ₹2,988.44 crore, up from ₹2,503.12 crore in Q1FY26.
Net profit attributable to owners of the company stood at ₹96.83 crore, up 32.2% from ₹73.25 crore in Q1FY26. PAT margin jumped 153 basis points YoY to 8.6%.
EBITDA at ₹170 crore, clocked a 13% YoY increase, while EBIDTA margin improved by 53 basis points YoY to 15%.
India Glycols’ proposed demerger
India Glycols has received the approval from the NCLT for the scheme of arrangement on 17 July 2026. Upon effectiveness, the spirits, biofuel and biopharma undertakings will transfer to dedicated resulting companies, while the remaining business continues within India Glycols.
Under the proposed demerger scheme, India Glycols Limited will be demerged into three entities.
India Glycols Limited, which is already listed on the BSE and the NSE, will retain chemicals, glycols, bio glycols, new speciality products, and industrial gases.
New entity IGL Spirits Limited will have the spirits business, IMFL, country liquor, and biofuel business. It will be listed on the NSE and the BSE.
The third entity, Ennature Bio Pharma Limited, will manage the bio-pharma business and the bio-polymers business. It will also be listed on the NSE and the BSE.
India Glycols shares: Should you buy?
Experts appear largely positive about the stock, highlighting that the proposed demerger could unlock value for shareholders.
Brokerage firm Arihant Capital has a buy recommendation on the stock with a target price of ₹1,639.
Arihant Capital highlighted that India Glycols is in a transformative and value-accretive phase, driven by an NCLT-approved demerger into three focused pure-play entities, which is expected to unlock shareholder value.
“The spirits business, with dominant market share in UP and Uttarakhand and captive ENA cost leadership, is aggressively expanding its premium IMFL portfolio (26% YoY growth) through partnerships with Amrut and Bacardi. The spirits business is targeting over ₹500 crore EBITDA for FY27E and a top-alco-beverage position,” said Arihant Capital.
“The chemicals business, as the world’s largest bio-based speciality chemicals player, is capitalising on the global sustainability shift with innovations like bio-based amines, targeting ₹2,500 crore in revenue and ₹400 crore in EBITDA over 4-5 years. Ennature Bio Pharma, with its best-ever quarter and nicotine growth (2 times QoQ), targets ₹130-150 crore in EBITDA in 4-5 years,” said Arihant Capital.
Arihant estimates revenue, EBITDA, and PAT CAGR of 12%, 15.4%, and 29%, respectively, over the period of FY26-29E, with EBITDA margin expanding to 16.9% (FY29E).
Technical experts also appear to be positive about the stock.
Vipin Kumar, AVP-Research at Globe Capital Market, pointed out that India Glycol has been consolidating in an ascending triangle formation while holding strong above its key long-term as well as short-term moving averages across multiple time frames.
“At the current juncture, immediate resistance is placed around ₹1,200, which is also the breakout level from the said triangle formation. Immediate support is placed around ₹1,040, followed by ₹985 levels. A decisive close above ₹1,200 would confirm a breakout from the consolidation pattern and could trigger fresh buying interest, potentially leading the stock towards ₹1,350 and higher levels in the near term,” said Kumar.
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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
