India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Equity Bottom-Up

<ul>
<li>India Glycols, a bio-based chemicals, spirits and biofuel player, delivered broad-based 9MFY26 growth, with EBITDA up 28.9% YoY to INR 487 crore.</li>
<li>Biofuel revenue rose 51.2% YoY, BSPC margin expanded to 11.6%, and Potable Spirits revenue reached INR 1,025 crore, improving earnings quality.</li>
<li>FY27 hinges on BSPC margin sustainability, premium spirits scale-up, biofuel stability, and timely completion of the demerger.</li>
</ul>


India Glycols, a bio-based chemicals, spirits and biofuel player, delivered broad-based 9MFY26 growth, with EBITDA up 28.9% YoY to INR 487 crore.
Biofuel revenue rose 51.2% YoY, BSPC margin expanded to 11.6%, and Potable Spirits revenue reached INR 1,025 crore, improving earnings quality.
FY27 hinges on BSPC margin sustainability, premium spirits scale-up, biofuel stability, and timely completion of the demerger.


India Glycols: The Only Bio-Based Chemical Manufacturer in India!

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Event-Driven

<ul>
<li>The demerger of three verticals will separate biopharma and profitable spirits from bio-based specialties and performance chemicals will be the catalyst for the company.</li>
<li>The expansion in potable spirits, set for completion by March 2025, is expected to drive growth in this segment, alongside anticipated recovery in the core chemical business.</li>
<li>The Potable spirits segment accounted for 45% of revenue but contributed 58% of EBITDA margins, benefiting from backward integration that drives higher margins.</li>
</ul>


The demerger of three verticals will separate biopharma and profitable spirits from bio-based specialties and performance chemicals will be the catalyst for the company.
The expansion in potable spirits, set for completion by March 2025, is expected to drive growth in this segment, alongside anticipated recovery in the core chemical business.
The Potable spirits segment accounted for 45% of revenue but contributed 58% of EBITDA margins, benefiting from backward integration that drives higher margins.


Event Driven: India Glycol, A Demerger Catalyst, Capacity Expansion

India

India Glycols is a leading Indian green chemical company that manufactures bio-based specialties and performance chemicals, natural gums, spirits, industrial gases, sugar, and nutraceuticals. The company is recognized for its sustainable, green technology, producing ethylene oxide, glycols, and derivatives from renewable agricultural resources like molasses or sugarcane. India Glycols was founded in 1983 and is headquartered in Noida, Uttar Pradesh, India.

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India Glycols (IGLY IN)

India Glycols: The Only Bio-Based Chemical Manufacturer in India!

India Glycols sees strong 9MFY26 growth with EBITDA up 28.9% YoY, biofuel revenue up 51.2%, and focus on BSPC margin sustainability and premium...

Sudarshan Bhandari

Event Driven: India Glycol, A Demerger Catalyst, Capacity Expansion

Demerger of company verticals to separate biopharma and spirits from specialties and chemicals will drive growth, with potable spirits expansion...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

India Glycols: The Only Bio-Based Chemical Manufacturer in India!

​India Glycols sees strong 9MFY26 growth with EBITDA up 28.9% YoY, biofuel revenue up 51.2%, and focus on BSPC margin sustainability and premium...

Sudarshan Bhandari

Event Driven: India Glycol, A Demerger Catalyst, Capacity Expansion

​Demerger of company verticals to separate biopharma and spirits from specialties and chemicals will drive growth, with potable spirits expansion...

Nimish Maheshwari

India Glycols sees strong 9MFY26 growth with EBITDA up 28.9% YoY, biofuel revenue up 51.2%, and focus on BSPC margin sustainability and premium...

Demerger of company verticals to separate biopharma and spirits from specialties and chemicals will drive growth, with potable spirits expansion...