India Glycols Limited · NSE:INDIAGLYCO
India Glycols — Q1 FY27 Earnings Presentation
60 slides from India Glycols's earnings presentation, Aug 14, 2026
Slide 1: Stock exchange cover letter for investor presentation
IGL/SE/2026-27/39 14th August, 2026 The Manager (Listing) The Manager (Listing) BSE Limited National Stock Exchange of India Limited 1st Floor, New Trading Ring, Exchange Plaza, C-1, Block G, Rotunda Building, P.J. Towers, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 001 Mumbai- 4
Slide 2: Investor Presentation Q1FY27
Investor Presentation Q1FY27
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation and the following discussion may contain “forward-looking statements” by India Glycols Limited (“IGL” or the company) that are not historical in nature. These forward-looking statements, which may include statements relating to future results of operations, fi
Slide 4: Table of Contents
Table of Contents 01 Proposed Restructuring 02 Q1 FY27 Financial Highlights 03 Business Overview 04 Key Strengths 05 Annual Financial Highlights 06 Annexures
Slide 5: Q1 FY27 Performance Highlights (Current Structure)
Q1 FY27 Performance Highlights (Current Structure) Robust Performance Reflects Strength of Diversified Portfolio and Focused Execution IGL delivered a strong start to FY27 with double-digit growth in Gross Revenue, EBITDA and PAT, supported by a balanced portfolio and improving profitability Q1 FY27
Slide 6: Proposed Restructuring
0} | Proposed Restructuring
Slide 7: Approved Demerger creates three focused platforms
Approved Demerger creates three focused platforms The NCLT sanctioned the Scheme of Arrangement on 17 July 2026. Upon effectiveness, the Spirits, Bio Fuel and Biopharma undertakings will transfer to dedicated resulting companies, while the remaining business continues within IGL India Glycols IGL Sp
Slide 8: Financial Performance – Q1 FY27 (New Structure)
Financial Performance – Q1 FY27 (New Structure) IGL Spirits Limited India Glycols Limited Ennature Bio Pharma Limited NET REVENUE NET REVENUE NET REVENUE ₹ 694 Cr ₹ 345 Cr ₹ 90 Cr (1% YoY) +24% YoY +53% YoY EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA Margin% Margin% Margin% ₹ 120 Cr 17.3% ₹ 40 Cr 11.6
Slide 9: IGL Spirits Limited – Q1FY27
IGL Spirits Limited – Q1FY27 IGL Spirits Spirits Business Bio Fuel Business NET REVENUE EBITDA Margin% ₹ 371 Cr * 22.9% +5% YoY +207 bps NET REVENUE IMFL ^ Non-IMFL ₹ 323 Cr (7% YoY) NET REVENUE NO. OF CASES NET REVENUE NO. OF CASES EBITDA Margin% ₹ 92 Cr 1.4 Mn ₹ 279 Cr 7.5 Mn 10.8% +26% YoY +55% Y
Slide 10: Business Outlook – IGL Spirits Limited
Business Outlook – IGL Spirits Limited 01 Accelerating IMFL Growth & Premiumization 04 Backward Integration Driving Cost Advantage IMFL volumes targeted to double through new brand launches, Captive high-quality ENA capacity, strategic raw material increasing contribution from higher-margin white sp
Slide 11: India Glycols Limited – Q1FY27
India Glycols Limited – Q1FY27 India Glycols Limited Chemicals Business Gases Business NET REVENUE EBITDA Margin% ₹ 332 Cr 11.4% +25% YoY NET REVENUE ₹ 13 Cr +1% YoY Green Glycols Specialty Chemicals * EBITDA Margin% 23.1% * Green Specialty Chemicals includes Performance Chemicals & JV with Clariant
Slide 12: Business Outlook – India Glycols Limited
Business Outlook – India Glycols Limited Largest Bio-Based speciality chemicals 01 05 Performance Chemicals expected to emerge as a manufacturer, pioneer in bio-based EO, Glycols and key growth driver Glycol Ether and only supplier at scale globally The business is witnessing increasing commercial t
Slide 13: Business Outlook – Ennature Biopharma Limited
Business Outlook – Ennature Biopharma Limited 01 Sustained Growth Momentum 04 Global Market Penetration Ennature is expected to sustain its growth momentum, Regulatory credentials and increasing international market supported by a strong order pipeline, customer additions, and penetration position t
Slide 14: Revised Proposed Scheme and Structure
Revised Proposed Scheme and Structure Management of IGL to enter Promoter Group into a composite scheme of 95.78% arrangement for the following: Kashipur Holdings Demerger of Potable Spirits & Bio- Limited (KHL) fuel and Bio-pharma Businesses – KHL currently holds respective businesses to be 49.77
Slide 15: Benefits of the Proposed Scheme
Benefits of the Proposed Scheme STRATEGIC FOCUS VALUE & CAPITAL GOVERNANCE & RESILIENCE Each business will have a Will create a potential to Each business will adhere to clear focus, leading to unlock value for stakeholders regulations that are specific improved management and by drawing focused inv
Slide 16: Q1 FY27 Financial Highlights
02 Q1 FY27 Financial Highlights
Slide 17: Q1 FY27 Performance Overview
Q1 FY27 Performance Overview Figures in ₹ Cr Gross Revenue Net Revenue EBIDTA EBIDTA Margin % PAT PAT Margin % ₹ 2,988 Cr ₹ 1,130 Cr ₹ 170 Cr 15.0% ₹ 97 Cr 8.6% Q1FY27 +19% YoY +9% YoY +13% YoY +53 Bps +32% YoY +153 Bps • Broad-based revenue growth - Net revenue of ₹ 1,130 Cr, up 9% YoY, with every
Slide 18: Financial Summary - Consolidated
Financial Summary - Consolidated Figures in ₹ Cr Particulars Q1FY27 Q1FY26 Y-o-Y (%) FY26 FY25 Y-o-Y (%) Gross Revenue from Operations 2,988 2,503 19.4% 9,827 9,039 8.7% Revenue from Operations (Net of excise) 1,130 1,040 8.6% 4,211 3,768 11.8% Other Income 0 1 5 15 Total Income 1,131 1,042 8.5% 4,2
Slide 19: Financial Summary - Standalone
Financial Summary - Standalone Figures in ₹ Cr Particulars Q1FY27 Q1FY26 Y-o-Y (%) FY26 FY25 Y-o-Y (%) Gross Revenue from Operations 2,987 2,503 19.3% 9,826 9,038 9.0% Revenue from Operations (Net of Excise) 1,129 1,040 8.5% 4,211 3,767 11.3% Other Income 0 1 44 15 Total Income 1,129 1,042 8.4% 4,25
Slide 20: Business Performance – Q1FY27
Business Performance – Q1FY27 Figures in ₹ Cr Business Performance | Q1FY27 over Q1FY26 BSPC PS BF EB Net Revenue ₹ 363 Cr ₹ 361 Cr ₹ 323 Cr ₹ 83 Cr + 21% + 5% (7%) + 65% EBIT ₹ 31 Cr ₹ 75 Cr ₹ 27 Cr ₹ 7 Cr (4%) 4% + 19% +504% EBIT Margin 8.6% 20.8% 8.4% 8.7% Revenue Mix 32% 32% 29% 7% Vs 29% Q1FY26
Slide 21: Business Overview
03 © Business Overview \.
Slide 22: Company at a Glance
Company at a Glance Business Overview India Glycols Limited (IGL), founded in 1983, is one of the leading manufacturer of Bio-based Specialties & Performance Chemicals (BSPC), Bio- Fuel, Potable Spirits (PS) and Ennature Biopharma (EB). It is the first company in the world to produce Ethylene Oxide
Slide 23: Bio-based Specialties & Performance Chemicals (BSPC)
03.1 Bio-based Specialties & Performance Chemicals (BSPC)
Slide 24: Bio-based Specialties & Performance Chemicals (BSPC)
Bio-based Specialties & Performance Chemicals (BSPC) A diversified portfolio of bio-glycols, glycol ethers, bio-polymers, specialty chemicals and industrial gases—combining a renewable feedstock advantage with application-led innovation Bio-glycols Bio- Glycol ethers Bio-polymers Specialities Indust
Slide 25: Segment Performance – BSPC
Segment Performance – BSPC Figures in ₹ Cr Net Revenue EBIT and EBIT Margin % 450 21% 10.9% 8.6% (4%) 400 60 350 50 300 250 40 363 200 30 150 300 33 31 20 100 10 50 - - Q1FY26 Q1FY27 Q1FY26 Q1FY27 Highlights • Revenue at ₹ 363 Cr, up by 21%; EBIT at ₹ 31 Cr as compared to ₹ 33 Cr • Growth was led by
Slide 26: Portable Spirits (PS)
03.2 Portable Spirits (PS)
Slide 27: Portable Spirits (PS)
Portable Spirits (PS) A diversified and premium spirits platform combining market-leading Country Liquor brands with an expanding IMFL portfolio, focused on premiumisation through strategic partnerships and wider institutional channel access Net Revenue PO RTF O L IO A RCHI TECTURE 1,800 1,600 +14.4
Slide 28: Segment Performance – Portable Spirits (PS)
Segment Performance – Portable Spirits (PS ) Figures in ₹ Cr Net Revenue EBIT and EBIT Margin % 700 600 21.1% 20.8% +5% 200 +4% 500 180 160 400 140 120 300 100 80 342 361 200 60 100 40 20 72 75 - - Q1FY26 Q1FY27 Q1FY26 Q1FY27 • Highlights Highlights • PS delivered ₹ 361 Cr. Revenue, up 5% YoY; EBIT
Slide 29: Market Leadership & Expansion
Market Leadership & Expansion Market leader in Country Liquor in Uttar Pradesh & Uttarakhand, with growing footprint across Delhi, Kerala, Andhra Pradesh and Diu 1 Uttar Pradesh & Uttarakhand 2 Delhi • Bunty Babli is the highest- • Soulmate Blu is one of the selling country liquor brand in leading b
Slide 30: Expanding institutional presence
Expanding institutional presence IGL is strengthening institutional sales through supplies to Indian Defence Forces and a broader All India portfolio CSD and Para Military access Portfolio expanded Registered supplier to Indian Defence forces through CSD Approved institutional portfolio grew from 3
Slide 31: IGL Whisky Portfolio
IGL Whisky Portfolio Soulmate Blu Single Reserve Amazing Whisky Deluxe Bunty Bubbly Yours Truly In Every Sip The One and Only 14 Mn Cases sold in FY25 Oak-Cask Matured Oak-Cask Matured 36 Mn Cases Segment Leading country liquor brand in Finest Indian grains with a rare Finest Indian grains with a ra
Slide 32: IGL Vodka Portfolio
IGL Vodka Portfolio Bunty Bubly Vodka ZUMBA LEMON VODKA AMAZING VODKA Adding Zing to Amazing Green Apple Orange Fun on the Run Double-digit market share 7 Mn Cases Segment Imported Gold Medal — Spritiz UP, UK, Delhi Flavours Selection Awards Gold Medal recognition 31
Slide 33: IGL RUM Portfolio
IGL RUM Portfolio Zumba Black Spiced Rum Experience the rhythm of Flavours Zumba Lemoni Citrus Beach House XXX Rum Rum Feel the beats of passion Find your escape 32
Slide 34: IGL - Bacardi International Partnership
IGL - Bacardi International Partnership Partnership with Bacardi since World Class standards of packaging and quality 15 years done by IGL for Bacardi • IGL does all the supply chain, logistics, gets approvals from regulatory authorities for Bacardi • Partnership is for all brands: from Bacardi Bree
Slide 35: IGL – AMRUT Partnership
IGL – AMRUT Partnership MAQINTOSH WHISKY MAQINTOSH WHITE PRESTIGE GREEN FUSION SINGLE MALT AMALGAM Special Edition LABEL WHISKY CLASSIC WHISKY WHISKY • Bottled at IGL- Kashipur and IGL- • Launched by IGL to • Age old brand of • This is the • IGL will invest, Gorakhpur address the belly of Amrut sell
Slide 36: Bio Fuel
03.3 Bio Fuel
Slide 37: Bio Fuel
Bio Fuel IGL has been a pioneer in green chemistry and biofuels, leveraging renewable feedstocks to develop sustainable alternatives. Through ethanol production and biofuel blending, the Company contributes to reducing carbon emissions while supporting India's transition towards cleaner energy sourc
Slide 38: Segment Performance – Bio-Fuel
Segment Performance – Bio-Fuel Figures in ₹ Cr Net Revenue EBIT and EBIT Margin % 700 600 70 6.5% 8.4% 500 (7%) 60 400 50 +19% 40 300 30 348 323 200 23 20 100 10 27 - - Q1FY26 Q1FY27 Q1FY26 Q1FY27 Highlights • Bio Fuel delivered ₹ 323 Cr Revenue, EBIT of ₹ 27 Cr, up by 19% YoY; Margin at 8.4% in Q1F
Slide 39: Ennature Biopharma (EB)
03.4 Ennature Biopharma (EB)
Slide 40: Ennature Biopharma (EB) - Plant-derived science & global-quality execution
Ennature Biopharma (EB) - Plant-derived science & global- quality execution A vertically integrated platform spanning plant-based APIs, differentiated nutraceutical ingredients and nicotine derivatives—supported by advanced extraction, R&D and globally accredited manufacturing CORE PRODUCTS 01 Advan
Slide 41: Segment Performance - EB
Segment Performance - EB Figures in ₹ Cr Net Revenue EBIT and EBIT Margin % 140 120 14 2.4% 8.7% +65% 12 504% 100 10 7 80 8 60 6 40 83 1 4 20 51 2 - - Q1FY26 Q1YF27 Q1FY26 Q1FY27 Highlights • Achieved best-ever Q1 performance at ₹ 83 Cr – growth of over 65% YoY, driven by new customers and nutraceut
Slide 42: Key Strengths
04 > key Strengths oe
Slide 43: Key Strengths
Key Strengths FOUNDATION & MARKET PLATFORM & RESILIENCE 01 05 Integrated Manufacturing facilities – 3+ decades of presence 3 facilities located in Kashipur, Gorakhpur and Dehradun CORE STRENGTHS 02 06 Strong Management Team 3x3 strategy for Cost Effectiveness Built across experience, leadership, sca
Slide 44: IGL Journey of more than 3 decades
IGL Journey of more than 3 decades 1983-2000 2001 - 2007 2008-2014 2015-2022 2023-2026 1983: Incorporation as UP 2001: Starting of glycol 2008: Expansion of MEG 2015: Bio-polymers 2023: Sale of entire stake in Glycols Ltd ether plant and gaur gum plant and commissioning expansion Shakumbari Sugar an
Slide 45: Diversified business model and multi-functional application
Diversified business model and multi-functional application Bio-based Specialities and Potable Spirits Ennature Biopharma Bio-Fuel Performance Chemicals (PS) (EB) (BSPC) Diversified sustainable- A consumer-focused spirits A natural-ingredients and A renewable-energy platform chemistry platform offer
Slide 46: India’s leading Green Chemical Company
India’s leading Green Chemical Company Green is in IGL’s DNA and is the core of our business: Inspired by nature and Green chemistry, we create compounds based on decades of expertise, innovative engineering and sustainable technologies, while ensuring our environment remains untouched. Only manufac
Slide 47: Capabilities
Integrated Manufacturing facilities Kashipur Gorakhpur Dehradun 300-acre state 56-acre state of of art integrated art distillation & 1,60,000 sqft state manufacturing bottling complex of art facility complex Fermentation – Molasses and Grain Based Grain based Ethanol High Purity Extraction E
Slide 48: Leveraging synergies to create value–integrated manufacturing for bio-based products
Leveraging synergies to create value–integrated manufacturing for bio-based products Portable Spirits (PS) Products Potable Power Industrial ENA O2, N2, Ar Spirit Brands Alcohol Gas Division Ind Gr. CO2 Grain O2 ASU EO-CO2 mix Business transferred to JV with Clariant Bio-based Specialities Green And
Slide 49: 3 x 3 Strategy for Cost Effectiveness
3 x 3 Strategy for Cost Effectiveness Mitigating costs with 3 possible 3 possible sources of raw material outputs Imported Bio-based Ethanol Chemicals Domestically Bio-fuels bought Ethanol In-house Potable Ethanol Spirits Ethanol plants capacities (including grain-based) of 600 KLPD and 500 KLPD at
Slide 50: R&D: Creating value through focus on Green Chemistry with Technical collaborations
R&D: Creating value through focus on Green Chemistry with Technical collaborations IGL pioneers’ sustainable trends with innovative, technology-driven solutions that reduce carbon footprints, leveraging digital technologies to reach net zero emissions and lead the way in green innovation. The state-
Slide 51: Growth Drivers
Growth Drivers High prospects of growth of Increasing consumer Companies taking steps to Growing demand for natural IGL is ideally placed to seize industry sectors being awareness and demand for significantly decrease carbon and safer products in the opportunity arising out serviced by IGL – Persona
Slide 52: Annual Financial Overview
05 Annual Financial Overview
Slide 53: 5-year Financial Trajectory - Consolidated
5-year Financial Trajectory - Consolidated Figures in ₹ Cr. Gross Revenue Net Revenue 9,827 3,768 4,211 9,039 3,294 7,922 2,868 6,601 6,642 2,651 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 EBITDA & EBITDA Margin (%) Adj. PAT* & Adj. PAT Margin (%) 9.6% 11.9% 12.9% 13.9% 15.5% 4.1% 4.2% 5.3% 5
Slide 54: 5-year Key Ratios - Consolidated
5-year Key Ratios - Consolidated Return on Capital Employed (%) Debt-to-Equity Ratio (x) 11.6% 11.9% 0.80 10.5% 0.68 0.59 0.64 7.5% 7.7% 0.54 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Cash Conversion Cycle* (Days) Interest Coverage Ratio (x) 60 64 59 43 45 2.82 2.71 2.98 2.26 2.50 FY22 FY23
Slide 55: Financial Summary - Consolidated
Financial Summary - Consolidated Particulars (In ₹ Cr) FY24 FY25 FY26 FY24-26 CAGR Gross Revenue from operations 7,922 9,039 9,827 11.4% Revenue from operations (Net of excise) 3,294 3,768 4,211 13.1% Other Income 26 15 5 Total Income 3,320 3,783 4,216 12.7% EBITDA 428 525 654 23.6% EBITDA Margin 12
Slide 56: Financial Summary - Consolidated
Financial Summary - Consolidated Balance Sheet Cash Flow Statement Particulars (₹ Cr.) (as at end of) FY24 FY25 FY26 Particulars (₹ Mn) FY24 FY25 FY26 Fixed Assets 3,171 3,736 4,445 Cash and Cash Equivalents (Opening Balance) 2 27 7 CWIP 84 98 37 Investment 335 381 389 Cash Flow from Operating Activ
Slide 57: Annexure
06 Annexure
Slide 58: Shareholder’s Information
Shareholder’s Information Shareholding Pattern Shareholder Information as on 30th June 2026 Public & BSE Ticker 500201 Others, 32.91% NSE Symbol INDIAGLYCO Market Cap (in ₹ Cr.) 6,611.18 % Free- float 40.37% as on 30th June 2026 Free Float Market Cap (in ₹ Cr.) 2,668.94 Shares Outstanding (Cr.) 6.70
Slide 59: Sustainability, ESG
Sustainability, ESG Social Environment Adherence to high safety and operational standards for handling hazardous materials. Employee and worker training for skill development. Implementation of preventive measures to Governance ➢ Utilization of briquettes made from plant Stakeholder engageme
Slide 60: Thank You
Thank You India Glycols Limited Head office Ernst & Young LLP 2B, Sector-126, Noida CIN: Gautam Budh Nagar Rohit Anand L24111UR1983PLC009097 Uttar Pradesh 201304 rohit.anand4@in.ey.com Ankur Jain Tel: +91-120-6860000, 3090100, 3090200 Riddhant Kapur Company Secretary & Fax: +91-120-3090111 Riddhant.