India Glycols Limited · NSE:INDIAGLYCO
India Glycols — Q4 FY26 Earnings Presentation
44 slides from India Glycols's earnings presentation, May 18, 2026
Slide 1: Stock exchange cover letter for investor presentation
IGL/SE/2026-27/11 18th May, 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- 400
Slide 2: Investor Presentation Q4 & FY26
Investor Presentation Q4 & FY26
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 Q4 & FY26 Financial Highlights 02 Q4 & FY26 Segmental Highlights 03 Proposed Restructuring 04 Business Overview 05 Annual Financial Highlights 06 Annexures
Slide 5: Q4 & FY26 Financial Highlights
Q4 & FY26 Financial Highlights
Slide 6: Performance Highlights
Performance Highlights Delivered broad-based Growth backed by focussed execution Financial Performance IGL delivered strong financial performance in FY26, achieving good Revenue growth, driven by volume, improved mix, pricing and margin improvement FY26 Net Revenue up + 11.8%, EBITDA up + 24.5%, and
Slide 7: Performance Overview
Performance Overview Figures in ₹ Cr. Gross Revenue Net Revenue EBIDTA EBIDTA Margin % PAT PAT Margin % ₹ 9,827 Cr ₹ 4,211 Cr ₹ 654 Cr 15.5% ₹ 293 Cr 6.9% +8.7% YoY +11.8% YoY +24.5% YoY +162 Bps +26.8% YoY +84 Bps FY26 Revenue growth led by PS & BF EBITDA growth in PS/BF/BSPC, Strong operating perf
Slide 8: Financial Summary - Consolidated
Financial Summary - Consolidated Figures in ₹ Cr. Particulars Q4FY26 Q4FY25 Y-o-Y (%) FY26 FY25 Y-o-Y (%) Gross Revenue from Operations 2,360 2,189 7.8% 9,827 9,039 8.7% Revenue from Operations (Net of excise) 976 863 13.1% 4,211 3,768 11.8% Other Income 1 2 5 15 Total Income 977 865 13.0% 4,216 3,7
Slide 9: Financial Summary - Standalone
Financial Summary - Standalone Figures in ₹ Cr. Particulars Q4FY26 Q4FY25 Y-o-Y (%) FY26 FY25 Y-o-Y (%) Gross Revenue from Operations 2,361 2,188 7.9% 9,826 9,038 9.0% Revenue from Operations (Net of Excise) 978 863 13.4% 4,211 3,767 11.3% Other Income 39 2 44 15 Total Income 1,017 864 17.7% 4,254 3
Slide 10: Q4 & FY26 Segmental Highlights
Q4 & FY26 Segmental Highlights
Slide 11: Business Performance – FY26 over FY25
Business Performance – FY26 over FY25 Figures in ₹ Cr. BSPC PS BF EB IGL Net Revenue ₹ 1,203 Cr ₹ 1,331 Cr ₹ 1,470 Cr ₹ 208 Cr ₹ 4,211 Cr (10.4%) + 14.4% + 40.9% (5.3%) + 11.8% EBIT ₹ 141 Cr ₹ 285 Cr ₹ 115 Cr ₹ 7 Cr ₹ 499 Cr + 12.5% + 11.1% + 103.3% (65.2%) + 21.6% EBIT 11.7% 21.4% 7.8% 3.5% 11.8% M
Slide 12: Business Performance – Q4FY26 over Q4FY25
Business Performance – Q4FY26 over Q4FY25 Figures in ₹ Cr. BSPC PS BF EB IGL Net Revenue ₹ 301 Cr ₹ 306 Cr ₹ 305 Cr ₹ 63 Cr ₹ 976 Cr + 18.8% + 7.9% + 11.6% + 23.2% + 13.1% EBIT ₹ 37 Cr ₹ 68 Cr ₹ 30 Cr ₹ 3 Cr ₹ 126 Cr + 37.4% (13.6%) + 90.0% (29.8%) + 9.5% EBIT 12.2% 22.1% 9.9% 4.7% 12.9% Margins Net
Slide 13: Segmental Revenue and EBIT Mix – Consolidated
Segmental Revenue and EBIT Mix – Consolidated Revenue Mix EBIT Mix 5% 5% 6% 5% 27% 32% 28% 32% 29% 35% 31% 12% 35% 56% 28% 34% FY26 FY25 FY26 FY25 7% 7% 6% 3% 31% 22% 31% 29% 31% 33% 31% 13% 62% 31% 32% 31% Q4FY26 Q4FY25 Q4FY26 Q4FY25 BSPC BF PS EB Consolidated Financials 12 12
Slide 14: Segment Performance – Potable Spirits (PS)
Segment Performance – Portable Spirits (PS ) Figures in ₹ Cr. Net Revenue EBIT and EBIT Margin % +14.4% 22.0% 21.4% 1, 600 700 27.6% 22.1% 200 1, 400 600 +7.9% 180 500 1, 200 160 350 +11.1% (13.6%) 140 1, 000 300 400 120 250 800 1,331 100 1,163 300 200 600 80 256 285 150 200 60 284 306 78 400 68 100
Slide 15: IGL Flagship Products
IGL Flagship Products BUNTY BUBBLY Amazing Vodka Soulmate Amazing ZUMBA Whisky Blu Whisky Deluxe Lemon Vodka 14 Mn cases Imported Flavors Millionaire Case Launched in Double Digit Brand Deluxe market share in UP, sold in FY25 Segment UK, Delhi, Chandigarh, 7 Mn Cases Paramilitary & CDS Segment ASIA
Slide 16: 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 17: 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 18: Segment Performance – BSPC
Segment Performance – BSPC Figures in ₹ Cr. Net Revenue EBIT and EBIT Margin % (10.3%) 700 1, 500 9.3% 11.7% 11.4% 12.2% 60 +12.4% 600 1, 300 170 +18.8% 50 150 +37.4% 500 1, 100 130 40 400 900 110 1,342 30 1,203 300 700 90 125 141 37 20 70 29 500 200 100 254 301 300 10 50 30 - 100 10 - Q4FY25 Q4FY26
Slide 19: Segment Performance – Bio-Fuel
Segment Performance – Bio-Fuel Figures in ₹ Cr. Net Revenue EBIT and EBIT Margin % +40.9% 700 5.4% 7.8% 5.8% 9.9% 70 600 +103.3% 140 +11.6% 1, 200 60 500 120 1, 000 +90.0% 50 100 400 1,470 800 40 80 300 1,044 115 600 30 60 200 305 400 30 20 273 40 100 200 10 16 20 57 - - - - Q4FY25 Q4FY26 FY25 FY26
Slide 20: Segment Performance - EB
Segment Performance - EB Figures in ₹ Cr. Net Revenue EBIT and EBIT Margin % 400 140 9.5% 3.5% 350 120 14 8.3% 4.7% 300 12 100 40 250 10 80 200 21 8 4 60 150 6 20 219 208 3 63 40 7 100 4 20 52 50 2 - - - - Q4FY25 Q4FY26 FY25 FY26 Q4FY25 Q4FY26 FY25 FY26 Highlights • FY26 Revenue ₹ 208 Cr Revenue, EB
Slide 21: Proposed Restructuring
OS Proposed Restructuring
Slide 22: 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 23: Proposed Business Structure (FY 2025-26)
Proposed Business Structure (FY 2025-26) Figures in ₹ Cr. Existing Structure Bio-based Specialties and Potable Spirits Ennature Biopharma Bio-Fuel Performance Chemicals Glycols, Glycol Ethers New IMFL Bio Pharma Bio-Fuel Country Liquor Specialties, Bio Polymers, ENA, Gases ₹ 1,202 Cr ₹ 1,470 Cr ₹ 6,
Slide 24: Benefits of the Proposed Scheme
Benefits of the Proposed Scheme Each business will have a Will create a potential to Each business will manage its clear focus, leading to unlock value for capital, investments, and improved management stakeholders by drawing resources based on its specific and resource allocation focused investors
Slide 25: Business Overview
4 Business Overview
Slide 26: 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 27: Key Strengths
Key Strengths 3+ decades of presence 3x3 strategy for Cost Effectiveness Diversified business model and R&D: Creating value with focus applications on Green Chemistry & Technical collaborations India’s leading Green Chemical Strong Management Team Company Integrated Manufacturing facilities – Financ
Slide 28: IGL Journey of more than 3 decades
IGL Journey of more than 3 decades 1983-2000 2001 - 2007 2008-2014 2015-2022 2023-2025 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 29: Diversified business model and multi-functional application
Diversified business model and multi-functional application Business segments Applications Bio-based Specialities and Performance Chemicals (BSPC) Potable Spirits (PS) Automotive Bio Glycols: Bio Mono Ethylene Glycol, Bio Di Ethylene Glycol, etc. License for operations and sale of Country Liquor
Slide 30: 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 31: Capabilities: Integrated Manufacturing facilities
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 32: Leveraging synergies – 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 33: 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 a
Slide 34: R&D: Creating value through focus on Green Chemistry
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 35: 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 36: Annual Financial Overview
O4 Annual Financial Overview
Slide 37: 5-year Financial Trajectory - Consolidated
5-year Financial Trajectory - Consolidated Figures in ₹ Cr. Gross Revenue Net Revenue 9,827 4,211 9,039 3,768 7,922 2,868 3,294 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 38: 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 39: Financial Summary - Consolidated
Financial Summary - Consolidated Figures in ₹ Cr. 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%
Slide 40: Financial Summary - Consolidated
Financial Summary - Consolidated Figures in ₹ Cr. 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 fro
Slide 41: Annexures
05 Annexures oe"
Slide 42: Shareholder's Information
Shareholder’s Information Shareholding Pattern Shareholder Information as on 31st March 2026 Public & BSE Ticker 500201 Others, 32.90% NSE Symbol INDIAGLYCO Market Cap (in ₹ Cr.) 5,690.24 % Free- float 40.37% as on 31st March 2026 Free Float Market Cap (in ₹ Cr.) 2,297.15 Shares Outstanding (Cr.) 6.
Slide 43: 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 44: India Glycols Limited
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.kapur@in.e