The company will initially subscribe to 10,000 equity shares at face value of Rs 10 each aggregating to Rs 1,00,000 in cash. The company will carry on business of spirits and related products. India Glycols (IGL) manufactures green technology-based bulk, specialty and performance chemicals and natural gums, spirits, industrial gases, sugar and nutraceuticals. IGL operates under three broad segments: bio-based specialities & performance chemicals (BSPC), potable spirits (PS) and ennature biopharma (EB). The company's consolidated net profit jumped 30.8% on 24.1% increase in revenue from operations to Rs 961.20 crore in Q2 FY25 over Q2 FY24. The counter rallied 3.29% to end at Rs 1196.85 on Tuesday, 26 November 2024. Powered by Capital Market - Live

India Glycols has incorporated 'IGL Spirits' as its wholly owned subsidiary Company on 25 November 2024. Powered by Capital Market - Live

Net profit of India Glycols rose 30.78% to Rs 49.71 crore in the quarter ended September 2024 as against Rs 38.01 crore during the previous quarter ended September 2023. Sales rose 24.09% to Rs 961.20 crore in the quarter ended September 2024 as against Rs 774.60 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales961.20774.60 24 OPM %12.0512.33 - PBDT91.0378.06 17 PBT63.4650.10 27 NP49.7138.01 31 Powered by Capital Market - Live

India Glycols will hold a meeting of the Board of Directors of the Company on 7 November 2024Powered by Capital Market - Live

India Glycols will hold a meeting of the Board of Directors of the Company on 7 November 2024Powered by Capital Market - Live

The Board of India Glycols at its meeting held on 21 September 2024 has approved appointment of Sushil Dutt Salwan (DIN: 10776621) and Samrat Banerjee (DIN: 06706345) as Additional Directors in the category of independent directors of the Company with effect from 01 October 2024. The Board also noted the cessation of Pradip Kumar Khaitan (DIN: 00004821), Jagmohan N. Kejriwal (DIN: 00074012), Ravi Jhunjhunwala (DIN: 00060972), and Jitender Balakrishnan (DIN: 00028320) as Independent Directors of the Company upon the completion of their second term, with effect from the close of business hours on 30 September 2024. Powered by Capital Market - Live

India Glycols has tied up with Amrut Distilleries, Bengaluru, for manufacturing, bottling, marketing and selling of Amrut's few premium brands on royalty basis. The Board at its meeting held on 21 September 2024 has noted the same. Powered by Capital Market - Live

India Glycols announced that CARE Ratings has revised the ratings on bank facilities of the company as under: Fund based LT bank guarantee (Rs 72.63 crore) - CARE A-; Stable (reaffirmed) Fund based LT term loan (Rs 1405.31 crore) - CARE A-; Stable (reaffirmed) Fund based LT / ST working capital limits (Rs 450 crore) - CARE A-; Stable/ CARE A2+ (revised from CARE A-; Stable) Non fund based ST BG/ LC (Rs 846.98 crore) - CARE A2+ (reaffirmed)Powered by Capital Market - Live

The agency has also affirmed the company's short term rating at 'CARE A2+'. CARE Ratings stated that the ratings continue to take comfort from company's diversified revenue streams, which mitigate volatility impact in one segment and healthy market position in bio-based glycols, potable spirit (PS), and nutraceutical segment, leading to large scale of operations. The company has also significantly scaled up its biofuel business over the recent couple of fiscals as well. These rating strengths are partially tempered by its improving yet moderate operating profitability which is vulnerable to volatility in input costs and company's moderately leveraged capital structure and average debt coverage metrics. The company's capital expenditure program is largely completed and is expected to focus on generating significant cashflows from the same and strengthen its coverage ratio, particularly, net debt (including LC acceptances) to PBILDT below 4.5x by FY25 end. Also, the PS business is highly regulated by government. Factors like improvement in debt coverage metrics and sustenance of significant liquidity buffers built up from cash and cash equivalents could lead to a ratings upgrade. However, reduction in diversification of business risk profile and incremental debt programmes or deterioration of profitability could lead to ratings downgrade. India Glycols (IGL) manufactures green technology-based bulk, specialty, and performance chemicals and natural gums, spirits, industrial gases, sugar, and nutraceuticals. It operates under three broad segments: Bio-based specialities & Performance Chemicals (BSPC), Biofuels, potable spirit (PS), and ennature biopharma (EB). The scrip shed 0.19% to currently trade at Rs 1217.65 on the BSE. Powered by Capital Market - Live

India Glycols announced that the 40th Annual General Meeting (AGM) of the company will be held on 28 August 2024.Powered by Capital Market - Live