Indo Gulf Industries Ltd.

About

Indo Gulf Industries Limited is engaged in the manufacturing of industrial and defence explosives and provides technical services related to blasting and mining applications. The company manufactures a range of industrial explosives and accessories, including slurry explosives, emulsion explosives, detonating fuse, PETN, cast boosters, detonating cords, and non-azide detonators for use in mining, quarrying, construction, and tunneling. It holds licenses for manufacturing defence products such as RDX, HMX, TNT, pyro devices, and propellants, and offers products including Indo Cord detonating cords, Indo Boost cast boosters, and Indo Superpower 90 packaged emulsion explosives. The company provides technical services such as blast design, supervision, shot firing, vibration monitoring, and controlled blasting for surface and underground operations. It operates manufacturing facilities and supports clients through a network of dealers, agents, and technical service engineers, and engages in research and development focused on new products and environmental impact. The company serves clients in the mining, quarrying, construction, tunneling, stone crushing, civil works, and defence sectors, including both government and private organizations. The company is based in New Delhi, India.

Key Metrics

as of Sep 2026

Market Cap3 Cr

P/E—

Div Yield0.00 %

Book Value₹11.00

52w High₹3.12

52w Low₹2.15

Face Value₹1.00

Quarterly Results

Rs. Crores · hover row for definition

Metric	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023
Sales	45.69	54.02	48.16	47.22	69.96	71.37	61.12	51.66	62.87	55.10	38.44	33.15	52.56
Expenses	45.79	50.88	52.29	45.88	66.49	70.55	57.58	48.74	58.56	54.59	39.00	31.40	50.31
Operating Profit	-0.10	3.14	-4.13	1.34	3.47	0.82	3.54	2.92	4.31	0.51	-0.56	1.75	2.25
OPM %	-0.22	5.81	-8.58	2.84	4.96	1.15	5.79	5.65	6.86	0.93	-1.46	5.28	4.28
Other Income	0.17	0.07	0.07	0.11	0.10	0.23	0.07	0.08	0.05	0.13	0.29	0.08	0.02
Depreciation	0.91	1.30	0.69	0.67	0.65	1.24	0.46	0.41	0.39	0.34	0.48	0.38	0.33
Interest	1.62	0.46	0.09	0.12	0.13	0.18	0.13	0.03	0.15	0.21	0.25	0.20	0.03
Profit before tax	-2.46	1.45	-4.84	0.66	2.79	-0.37	3.02	2.56	3.82	0.09	-1.00	1.25	1.91
Tax %	0.00	25.52	-25.21	-3.03	62.72	-45.95	25.17	32.42	28.53	-822.22	-25.00	99.20	27.75
Net Profit	-2.46	1.09	-3.62	0.67	1.04	-0.19	2.26	1.73	2.73	0.83	-0.74	0.01	1.38
EPS in Rs	-2.57	1.14	-3.78	0.70	1.09	-0.20	2.36	1.81	2.85	0.87	-0.77	0.01	1.44

Profit & Loss

Annual · Rs. Crores

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Sales	219.00	247.00	179.00	207.00	145.00	71.00	53.00	13.00	0.00	0.00	0.00	0.00
Expenses	208.00	235.00	175.00	199.00	142.00	70.00	55.00	14.00	2.00	1.00	0.00	0.00
Operating Profit	12.00	12.00	4.00	8.00	3.00	0.00	-2.00	-1.00	-2.00	-1.00	0.00	0.00
OPM %	5.00	4.70	2.20	3.80	1.90	0.50	-3.00	-8.00	—	—	—	—
Other Income	0.00	0.00	1.00	0.00	0.00	1.00	3.00	0.00	1.00	0.00	0.00	4.00
Interest	9.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	3.00	2.00	2.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	0.00	9.00	2.00	7.00	2.00	1.00	0.00	-1.00	-1.00	-1.00	0.00	4.00
Tax %	940.00	28.00	35.00	5.00	10.00	28.00	41.00	10.00	0.00	0.00	0.00	0.00
Net Profit	0.00	7.00	1.00	6.00	2.00	0.00	0.00	-2.00	-1.00	-1.00	0.00	4.00
EPS in Rs	-0.44	6.84	1.55	6.73	1.69	0.45	0.21	-1.70	-0.97	-0.53	-0.13	3.99
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Balance Sheet

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Equity Capital	0.96	0.96	0.96	0.96	0.96	0.96	0.96	0.96	0.96	0.96	0.96	0.96
Reserves	10.00	10.00	4.00	2.00	-4.00	-6.00	-6.00	-6.00	-5.00	-4.00	-3.00	-3.00
Borrowings	25.00	12.00	15.00	14.00	15.00	16.00	15.00	14.00	9.00	6.00	6.00	3.00
Other Liabilities	61.00	34.00	28.00	18.00	14.00	10.00	10.00	3.00	1.00	1.00	1.00	1.00
Total Liabilities	96.00	57.00	47.00	35.00	26.00	21.00	19.00	11.00	6.00	3.00	4.00	2.00
Fixed Assets	50.00	42.00	31.00	21.00	15.00	10.00	9.00	7.00	3.00	1.00	1.00	2.00
CWIP	5.00	4.00	3.00	1.00	0.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	41.00	11.00	13.00	13.00	11.00	11.00	10.00	4.00	3.00	2.00	3.00	0.00
Total Assets	96.00	57.00	47.00	35.00	26.00	21.00	19.00	11.00	6.00	3.00	4.00	2.00

Cash Flows

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Cash from Operating Activity	-1.00	17.00	15.00	10.00	7.00	-1.00	5.00	0.00	-1.00	-1.00	0.00	0.00
Cash from Investing Activity	-12.00	-14.00	-14.00	-8.00	-5.00	-2.00	-2.00	-2.00	-3.00	-1.00	0.00	0.00
Cash from Financing Activity	13.00	-4.00	14.00	-2.00	-1.00	3.00	-3.00	2.00	3.00	0.00	2.00	0.00
Net Cash Flow	0.00	0.00	16.00	0.00	0.00	0.00	0.00	0.00	0.00	-2.00	2.00	0.00
Free Cash Flow	-13.00	4.00	1.00	1.00	2.00	-3.00	3.00	-5.00	-2.00	-1.00	0.00	0.00
CFO/OP %	-9.00	148.00	383.00	128.00	242.00	-263.00	-339.00	5.00	31.00	124.00	33.00	100.00

Ratios

Annual · Days / % — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Debtor Days	4.00	2.00	4.00	2.00	8.00	8.00	13.00	11.00	—	—	—	—
Inventory Days	27.00	8.00	13.00	11.00	11.00	26.00	20.00	44.00	—	—	—	—
Days Payable	48.00	38.00	42.00	22.00	22.00	27.00	30.00	30.00	—	—	—	—
Cash Conversion Cycle	-18.00	-28.00	-25.00	-9.00	-3.00	6.00	3.00	24.00	—	—	—	—
Working Capital Days	-37.00	-35.00	-38.00	-19.00	-21.00	-26.00	-46.00	-56.00	—	—	—	—
ROCE %	30.00	45.00	16.00	48.00	19.00	9.00	6.00	-21.00	-24.00	-17.00	-6.00	28.00

Shareholding Pattern

% holding — latest first

Holder	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023
Promoters	53.96	53.96	53.96	53.96	53.96	53.96	53.96	53.96	53.96	53.96	53.96	53.96
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.01	0.01
DIIs	1.21	1.21	1.21	1.21	1.21	1.21	1.21	1.21	1.20	1.21	1.20	1.20
Public	44.83	44.83	44.84	44.84	44.84	44.84	44.83	44.83	44.83	44.83	44.83	44.84
No. of Shareholders	17,943	17,945	17,946	17,947	17,949	17,949	17,950	17,950	17,950	17,953	17,952	17,953