IVP

IVP Limited

Foundry and polyurethane chemicals manufacturer, part of Allana Group

Commodities›Chemicals›Chemicals & Petrochemicals›Specialty Chemicals

ivpindia.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹218.85
Market cap
226 Cr
Stock P/E
7.2
P/B
1.44
Dividend yield
0.5%
ROE (FY26)
11.9%
ROCE (FY26)
14.6%
Operating margin (FY26)
4.8%
Debt / equity (FY26)
0.42
OCF / EBITDA (FY26)
151.9%
OCF / EBITDA (3Y)
109.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

IVP builds foundry chemicals (binders and coatings used in metal casting) and polyurethane products such as footwear foam and flexible-packaging adhesives, selling to industrial manufacturers from its Mumbai base.

Company snapshot

61stBy market cap

Ranked among 68 companies in Specialty Chemicals.

What we see

Positives
  • ✓109% of operating profit came in as cash over the last three years — profits are backed by real cash.

Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales142 Cr122 Cr142 Cr138 Cr122 Cr129 Cr149 Cr138 Cr147 Cr145 Cr164 Cr155 Cr
Operating expenses (approx.)133 Cr117 Cr133 Cr131 Cr116 Cr124 Cr142 Cr134 Cr139 Cr136 Cr151 Cr134 Cr
EBITDA9 Cr5 Cr9 Cr7 Cr6 Cr5 Cr8 Cr4 Cr8 Cr9 Cr14 Cr21 Cr
OPM %6.4%4.2%6.2%4.9%4.5%3.9%5.2%3.1%5.5%6.0%8.3%13.3%
Other income0.75 Cr0.69 Cr0.83 Cr0.81 Cr0.79 Cr1 Cr0.94 Cr1 Cr0.89 Cr1 Cr1 Cr1 Cr
Interest2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr1 Cr1 Cr
Depreciation1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr2 Cr2 Cr2 Cr1 Cr2 Cr
Profit before tax6 Cr2 Cr6 Cr4 Cr3 Cr3 Cr5 Cr2 Cr5 Cr6 Cr12 Cr19 Cr
Tax %24.7%28.2%26.1%22.4%30.1%27.3%25.6%30.0%24.5%25.1%25.9%25.3%
Net profit5 Cr2 Cr5 Cr3 Cr2 Cr2 Cr4 Cr1 Cr4 Cr5 Cr9 Cr14 Cr
EPS (₹)₹4.49₹1.66₹4.59₹3.32₹2.09₹1.84₹3.71₹1.15₹3.87₹4.48₹8.58₹13.57

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales180 Cr276 Cr320 Cr229 Cr290 Cr557 Cr661 Cr546 Cr539 Cr595 CrSign in free for the trailing twelve months
Operating expenses (approx.)163 Cr255 Cr311 Cr229 Cr273 Cr522 Cr621 Cr518 Cr514 Cr560 CrSign in free for the trailing twelve months
EBITDA17 Cr21 Cr9 Cr-0.08 Cr16 Cr35 Cr40 Cr28 Cr25 Cr35 CrSign in free for the trailing twelve months
OPM %9.7%7.6%2.9%-0.0%5.6%6.3%6.0%5.1%4.7%5.8%Sign in free for the trailing twelve months
Other income1 Cr1 Cr2 Cr2 Cr2 Cr3 Cr3 Cr3 Cr4 Cr4 CrSign in free for the trailing twelve months
Interest0.23 Cr3 Cr8 Cr10 Cr7 Cr10 Cr12 Cr9 Cr8 Cr7 CrSign in free for the trailing twelve months
Depreciation1 Cr3 Cr3 Cr5 Cr5 Cr5 Cr5 Cr6 Cr6 Cr6 CrSign in free for the trailing twelve months
Profit before tax17 Cr16 Cr0.28 Cr-13 Cr7 Cr23 Cr38 Cr17 Cr15 Cr25 CrSign in free for the trailing twelve months
Tax %36.5%36.7%-1107.1%32.8%32.6%24.5%26.2%26.2%25.9%25.7%Sign in free for the trailing twelve months
Net profit11 Cr10 Cr3 Cr-9 Cr5 Cr18 Cr28 Cr12 Cr11 Cr19 CrSign in free for the trailing twelve months
EPS (₹)₹10.43₹10.06₹3.28₹-8.34₹4.35₹17.07₹27.13₹11.89₹10.96₹18.09Sign in free for the trailing twelve months
Dividend payout %————0.0%5.8%5.5%12.6%9.1%5.5%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr
Reserves63 Cr71 Cr71 Cr61 Cr65 Cr81 Cr108 Cr119 Cr129 Cr147 Cr
Borrowings14 Cr78 Cr143 Cr99 Cr122 Cr157 Cr120 Cr89 Cr104 Cr65 Cr
Other liabilities47 Cr90 Cr50 Cr49 Cr108 Cr122 Cr145 Cr112 Cr104 Cr120 Cr
Total liabilities134 Cr249 Cr275 Cr220 Cr306 Cr371 Cr384 Cr331 Cr348 Cr342 Cr
Fixed assets (net)35 Cr41 Cr56 Cr82 Cr77 Cr74 Cr73 Cr71 Cr70 Cr66 Cr
CWIP2 Cr17 Cr27 Cr0 Cr0.20 Cr0.46 Cr2 Cr2 Cr0.18 Cr1 Cr
Investments0.02 Cr0.02 Cr3 Cr3 Cr3 Cr3 Cr0 Cr0 Cr0.09 Cr0.09 Cr
Loans & advances——0.12 Cr0.21 Cr0.08 Cr0.14 Cr0.09 Cr0.20 Cr0.19 Cr0.25 Cr
Inventories27 Cr61 Cr49 Cr30 Cr72 Cr79 Cr92 Cr76 Cr83 Cr74 Cr
Trade receivables60 Cr107 Cr123 Cr92 Cr139 Cr208 Cr208 Cr171 Cr182 Cr186 Cr
Cash & bank4 Cr3 Cr3 Cr0.26 Cr2 Cr0.74 Cr0.61 Cr2 Cr1 Cr3 Cr
Other assets7 Cr19 Cr14 Cr13 Cr13 Cr6 Cr9 Cr9 Cr10 Cr11 Cr
Total assets134 Cr249 Cr275 Cr220 Cr306 Cr371 Cr384 Cr331 Cr348 Cr342 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity5 Cr-30 Cr-27 Cr56 Cr-14 Cr-21 Cr41 Cr45 Cr-2 Cr53 Cr
Cash from investing-24 Cr-28 Cr-28 Cr-5 Cr-0.33 Cr-3 Cr10 Cr-3 Cr-5 Cr-3 Cr
Cash from financing7 Cr-0.07 Cr54 Cr-54 Cr16 Cr23 Cr-51 Cr-41 Cr6 Cr-48 Cr
Net cash flow-11 Cr-58 Cr-0.47 Cr-3 Cr1 Cr-1 Cr-0.14 Cr1 Cr-0.90 Cr2 Cr
Free cash flow (OCF − Capex)-19 Cr-58 Cr-55 Cr51 Cr-15 Cr-24 Cr35 Cr42 Cr-7 Cr50 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %19.8%12.4%3.9%-1.6%6.9%13.4%21.1%11.6%9.5%14.6%
ROE %14.8%12.8%4.1%-12.0%5.9%19.2%23.6%9.5%8.1%11.9%
Debtor days120141139147175136114115123114
Inventory days799768651126261637058
Days payable7811260961558989877986
Cash conversion cycle122126147117132110869011486
OCF / EBITDA %28.3%-144.6%n.m.—-86.9%-59.2%102.4%163.1%-9.8%151.9%
OCF / EBITDA % (3 years)——-109.0%-1.7%61.0%42.2%6.3%63.7%90.1%109.0%
Debt / equity0.190.961.751.381.621.711.010.690.750.42
Current ratio1.611.110.970.860.971.051.181.291.321.47
Net debt / EBITDA0.593.5514.92—7.414.453.003.144.101.79