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Indogulf Cropsciences Limited (IGCL) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of Indogulf Cropsciences Limited ₹66.37, price ₹56.80, upside +16.8%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Basic Materials · IN

IC Thin data Sep 27, 2026

Indogulf Cropsciences Limited

IGCL · NSE

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value ₹66.37 · Undervalued (+16.8%)
!Quality 40/100
!Expensive Growth (revenue 3y +8.7 %/yr)
!Thin margins · 5.6% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (11/12)
!Narrow moat 42/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹117.61 ₹53.58 Fair Value ₹66.37 Jul 2025 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

15‑month range ₹53.58 – ₹117.61 · fair‑value band ₹46.46 – ₹86.28 · the ₹56.80 price screens below the ₹66.37 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Indogulf Cropsciences Limited manufactures and sells crop protection products, plant nutrients, and biological products to retail and institutional customers in India and internationally. It offers crop protection products, including insecticides, herbicides, fungicides, and plant growth regulators; biostimulants; and plant supplements.

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Indogulf Cropsciences Limited manufactures and sells crop protection products, plant nutrients, and biological products to retail and institutional customers in India and internationally. It offers crop protection products, including insecticides, herbicides, fungicides, and plant growth regulators; biostimulants; and plant supplements. The company also manufactures water dispersible granules, suspension concentrate, capsule suspension, ultra-low volume, emulsion in water, soluble granule, and flowable suspension in powder, granule, and liquid forms. It also exports its products. The company was formerly known as Jai Shree Rasayan Udyog Limited and changed its name to Indogulf Cropsciences Limited in April 2015. Indogulf Cropsciences Limited was incorporated in 1993 and is based in New Delhi, India.

Stock analysis

Indogulf Cropsciences Limited (IGCL) currently trades at ₹56.80, while our model-based Fair Value estimate is ₹66.37, implying the stock looks roughly 14.4% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of ₹113.88 per share, and 14 of the 15 models we run sit above the ₹56.80 price.

Bear case: the Asset-Based group reads lowest at ₹48.68, and 1 of the 15 models stay below the price. Evidence for this calculation is low.

Scenario range: ₹46.46 (bear) to ₹86.28 (bull), the price of ₹56.80 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 40/100 (below-average quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Indogulf Cropsciences Limited reported revenue of ₹7.0B in FY2026 versus ₹4.9B in FY2022, a compound +9.7%/yr. Reported net income was ₹400M in FY2026, compounding +11.0%/yr from FY2022.

Key figures

Market cap ₹4.4B (≈ $45.5M) · P/E ratio 8.5 · P/S ratio 0.48 · EPS (TTM) ₹6.72 · Net margin 5.7% · Return on equity 10.9% · Return on assets (EBIT) 8.5% · Operating margin 12.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).

What moves the price

The share trades about 48% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at 17% fair-value upside, at 17%, IGCL screens cheaper than that median.

Fair Value models

Bear ₹46.46 Fair Value ₹66.37 Bull ₹86.28
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹3.39 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV ₹72.68 ₹83.92 ₹93.62 74
Owner Earnings ₹68.84 ₹113.88 ₹185.51 72
ROIC Compounder ₹72.69 ₹93.47 ₹122.53 69
All 15 models by family
DCF Models
Owner Earnings ₹68.84 ₹113.88 ₹185.51 72
Earnings-Based
Graham-Dodd ₹43.05 ₹174.19 ₹237.00 61
Lynch FV ₹43.52 ₹62.17 ₹80.82 58
PEG = 1.0 ₹43.52 ₹62.17 ₹80.82 55
EPV ₹72.68 ₹83.92 ₹93.62 74
Multiples
P/E Multiple ₹80.72 ₹107.63 ₹134.53 63
P/S Multiple ₹80.72 ₹107.63 ₹134.53 58
P/B Multiple ₹80.72 ₹107.63 ₹134.53 55
EV/EBIT ₹105.39 ₹140.02 ₹174.66 66
EV/EBITDA ₹89.28 ₹118.54 ₹147.81 67
EV/Revenue ₹91.53 ₹130.13 ₹168.72 53
Asset-Based
NCAV (Graham) ₹36.33 ₹48.68 ₹72.65 54
Economic Profit
Residual Income ₹60.82 ₹65.60 ₹75.73 68
ROIC Compounder ₹72.69 ₹93.47 ₹122.53 69
Growth Earnings
Growth-Adj P/E ₹67.39 ₹96.27 ₹125.15 65

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Quality Score breakdown

Overall quality 40/100

Of which business quality 39 · Market factors (momentum, volatility) 22

Profitability 41
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 35
Disciplined investing over empire-building
Low Volatility 43
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 50
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+19.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.7%
What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+19.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.1%
Dividend (yield on the price)0.0%
Profit margin 2022 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 9%
2026 sits 51% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Agricultural Inputs · 178 stocks

Beats the industry median on 11/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 40 · Bottom 25%
Fair Value upside +16.8% · Above median
Profitability
Return on equity (TTM) 10.9% · Above median
Return on assets 5.8% · Above median
Net margin (TTM) 5.6% · Above median
Operating margin (TTM) 12.2% · Above median
Growth and dividend
Revenue growth 19.5% · Above median
Balance sheet
Debt / equity 0.01× · Lowest 25%

Valuation Multiplesvs Agricultural Inputs median · lower = cheaper

P/E (TTM) 8.5× · Cheapest 25%
P/B 0.95× · Cheaper than median
P/S (TTM) 0.61× · Cheaper than median
EV/EBITDA 5.2× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)56 · sector 20
FUTURE (revenue growth)98 · sector 27
PAST (return on equity)44 · sector 24
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)0 · sector 41

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Indogulf Cropsciences Limited · Fair Value
₹66.37 +14%Fair Value
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Cite: Fair Value Calculator (2026). "Indogulf Cropsciences Limited Fair Value". https://www.fairvalue-calculator.com/stock/IGCL

Frequently asked questions

Is Indogulf Cropsciences Limited (IGCL) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹66.37 versus a price of ₹56.80, about +17% upside (undervalued).
What is the fair value of IGCL?
Our model-based fair value for Indogulf Cropsciences Limited is ₹66.37 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹56.80.
What is the quality score of IGCL?
Indogulf Cropsciences Limited has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Indogulf Cropsciences Limited (IGCL)?
Our model-based price target is the fair value of ₹66.37 (as of Sep 27, 2026) from 15 valuation models. Cautious scenario ₹46.46, optimistic scenario ₹86.28. It is a calculation from audited fundamentals, not an analyst target.
What is the Indogulf Cropsciences Limited stock forecast for 2026?
Our models put fair value at ₹66.37, about +17% upside versus a price of ₹56.80 (undervalued). Cautious scenario ₹46.46, optimistic scenario ₹86.28. The calculation is refreshed regularly with new filings.
What is the revenue of Indogulf Cropsciences Limited (IGCL)?
Indogulf Cropsciences Limited reported trailing-twelve-month revenue of about ₹7.1B (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Indogulf Cropsciences Limited (IGCL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Indogulf Cropsciences Limited it is ₹66.37 per share (as of Sep 27, 2026), against a price of ₹56.80. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Indogulf Cropsciences Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, IGCL trades below its calculated fair value: price ₹56.80, fair value ₹66.37, a gap of about +17% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IGCL?
No. The price is what the market pays today (₹56.80); the fair value is what the company's own numbers justify (₹66.37). For Indogulf Cropsciences Limited the two are ₹9.57 per share apart. That gap is exactly why we show both numbers side by side.
How much is Indogulf Cropsciences Limited worth?
The market values Indogulf Cropsciences Limited at about ₹4.4B (market capitalisation, as of Sep 27, 2026). Per share that is ₹56.80; our models calculate a fair value of ₹66.37 per share.
What do the bullish and bearish scenarios say about IGCL?
Our models span a range for Indogulf Cropsciences Limited: cautious scenario ₹46.46, base ₹66.37, optimistic ₹86.28 per share (as of Sep 27, 2026, price ₹56.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IGCL?
Indogulf Cropsciences Limited trades at a price-to-earnings ratio of 8.5 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹66.37 is built from several models across several years. Other multiples: P/B 1.0, P/S 0.6, EV/EBITDA 5.2.
How solid is the balance sheet of Indogulf Cropsciences Limited (IGCL)?
Balance-sheet figures for Indogulf Cropsciences Limited (as of Sep 27, 2026): return on equity 10.9%, debt of 0.01 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is IGCL from its 52-week high?
Indogulf Cropsciences Limited trades at ₹56.80, about 48% below its 52-week high of ₹110.25 and 6% above the low of ₹53.58 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of ₹66.37 is for.
Which stocks are comparable to Indogulf Cropsciences Limited?
From the same area (Basic Materials) we also value Corteva, Inc, Nutrien Ltd, Qinghai Salt Lake Industry Co, CF Industries Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Indogulf Cropsciences Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹56.80, calculated fair value ₹66.37 (+17%), Quality Score 40/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IGCL calculated?
We run Indogulf Cropsciences Limited through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹66.37, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. Indogulf Cropsciences Limited currently trades 14 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Indogulf Cropsciences Limited (IGCL)?
The closing price on Sep 30, 2026 was ₹56.80. Our model-based fair value is ₹66.37, about +17% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Indogulf Cropsciences Limited right now?
A fairly wide model range (₹46.46 to ₹86.28) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Indogulf Cropsciences Limited

How large is the market capitalisation of Indogulf Cropsciences Limited (IGCL)?
The market capitalisation of Indogulf Cropsciences Limited is ₹4.4B (≈ $45.5M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Indogulf Cropsciences Limited (IGCL)?
The price-to-sales ratio of Indogulf Cropsciences Limited is 0.48 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Indogulf Cropsciences Limited (IGCL)?
Earnings per share at Indogulf Cropsciences Limited are ₹6.72 (price ÷ EPS = P/E 8.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Indogulf Cropsciences Limited (IGCL)?
The net margin of Indogulf Cropsciences Limited is 5.7% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Indogulf Cropsciences Limited (IGCL)?
The return on equity (ROE) of Indogulf Cropsciences Limited is 10.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Indogulf Cropsciences Limited (IGCL)?
On an EBIT basis the return on assets of Indogulf Cropsciences Limited is 8.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Indogulf Cropsciences Limited (IGCL)?
The operating margin of Indogulf Cropsciences Limited is 12.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Indogulf Cropsciences Limited (IGCL)?
Revenue at Indogulf Cropsciences Limited is growing +19.5% versus a year earlier (3y avg +8.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Indogulf Cropsciences Limited (IGCL)?
Earnings per share at Indogulf Cropsciences Limited are growing +14.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Indogulf Cropsciences Limited (IGCL) generate?
The free cash flow of Indogulf Cropsciences Limited is −₹839M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Indogulf Cropsciences Limited (IGCL) carry?
The net debt of Indogulf Cropsciences Limited is ₹1.7B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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