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IVP Limited (IVP) Fair Value & Analysis

Basic Materials · IN · Market cap ₹1.9B (≈ $20.2M) · ISIN INE043C01018

What is IVP Limited really worth?

IL IVP Limited IVP · BSE
Price₹202.40
Fair Value₹307.53
Upside+51.9%
Quality70/100

A solid business, trading 34% below our fair value of ₹307.53.

As of Aug 21, 2026, the fair value of IVP Limited is ₹307.53 per share against a price of ₹202.40, so the fair value sits 52% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +15.4 %/yr)
!Thin margins · 5.2% net margin
!Trails peers (2/10)
!Narrow moat 44/100
Evidence: High Range ₹230.64 – ₹384.41

Fair value as of: Aug 21, 2026

From 24 valuation models · updated 16 days ago

Share price +25.0% over the past month.

What runs behind every stock

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

What matters now

  • The rarer combination: high quality (70/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (₹230.64). The market is more pessimistic than our downside scenario.

Price vs Fair Value (5 years)

₹271.79 ₹93.32 Fair Value ₹307.53 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range ₹93.32 – ₹271.79 · fair‑value band ₹230.64 – ₹384.41 · the ₹202.40 price screens below the ₹307.53 fair value. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

IVP Limited (IVP) currently trades at ₹202.40, while our model-based Fair Value estimate is ₹307.53, implying the stock looks roughly 34.2% undervalued today. The Quality Score stands at 70/100 (solid quality), in the Basic Materials sector. Bull case: the Growth DCF group reads highest at a median of ₹561.56 per share, and 22 of the 24 models we run sit above the ₹202.40 price. Bear case: the Asset-Based group reads lowest at ₹101.92, and 2 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, IVP Limited generated revenue of ₹6.1B at a net margin of 5.2%. Revenue grew 12.0% year over year. It earns a return on equity of 12.6%. Net debt stands at ₹622M. Fundamentals as of Aug 21, 2026

Our scenario range runs from ₹230.64 (bear case) to ₹384.41 (bull case); at ₹202.40, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 84% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −58% fair-value upside, at 52%, IVP screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ₹20.81 per share, which is 6.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model 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. Evidence
Highest evidence
FCF DCF best evidence ₹510.64 ₹841.15 ₹1,342 79
Growth DCF ₹503.43 ₹795.09 ₹1,211 77
Owner Earnings ₹225.67 ₹370.63 ₹590.50 75
All 24 models by family
DCF Models
FCF DCF best evidence ₹510.64 ₹841.15 ₹1,342 79
Owner Earnings ₹225.67 ₹370.63 ₹590.50 75
5Y Revenue Exit ₹355.88 ₹560.98 ₹829.04 72
5Y EBITDA Exit ₹343.03 ₹534.68 ₹765.04 75
5Y P/E Exit ₹323.84 ₹495.40 ₹683.61 71
10Y Revenue Exit ₹402.37 ₹605.64 ₹898.58 66
10Y EBITDA Exit ₹402.21 ₹588.10 ₹849.99 68
10Y P/E Exit ₹390.60 ₹561.91 ₹788.16 64
Earnings-Based
Graham-Dodd ₹123.01 ₹558.58 ₹766.18 64
Lynch FV ₹146.13 ₹208.76 ₹271.38 61
PEG = 1.0 ₹146.13 ₹208.76 ₹271.38 57
EPV ₹194.09 ₹220.14 ₹241.85 74
Multiples
P/E Multiple ₹230.64 ₹307.53 ₹384.41 63
P/S Multiple ₹230.64 ₹307.53 ₹384.41 58
P/B Multiple ₹230.64 ₹307.53 ₹384.41 55
EV/EBIT ₹311.95 ₹414.92 ₹517.89 66
EV/EBITDA ₹267.34 ₹355.44 ₹443.54 67
EV/Revenue ₹270.76 ₹385.50 ₹500.24 53
Asset-Based
NCAV (Graham) ₹76.06 ₹101.92 ₹152.13 54
Growth DCF
Growth DCF ₹503.43 ₹795.09 ₹1,211 77
Rev-Margin DCF ₹355.88 ₹561.56 ₹826.19 72
Economic Profit
Residual Income ₹132.07 ₹148.19 ₹230.93 75
ROIC Compounder ₹208.01 ₹263.93 ₹334.19 72
Growth Earnings
Growth-Adj P/E ₹211.19 ₹301.71 ₹392.22 67

Widest divergence: Growth DCF (₹561.56) versus Asset-Based (₹101.92). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 6.6
P/S ratio 0.21 P/E × margin
EPS (TTM) ₹30.50 price ÷ EPS = P/E 6.6
Dividend yield 0.5% payout 3.6%
Net margin 3.1% FY2025
Return on equity 12.6% TTM
More key figures
Profitability
Return on assets (EBIT) 8.9% avg 5y
Operating margin 12.3% TTM
Growth
Revenue (TTM) ₹6.1B TTM
Revenue growth (YoY) +12.0% 3y avg −3.5%
EPS growth (YoY) +10.8%
Balance sheet & cash flow
Free cash flow ₹499M FY2025
Net debt ₹622M FY2025 · ≈ 1.2 yrs of FCF

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 68 · Market factors (momentum, volatility) 64

Profitability 56
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

IVP Limited engages in the manufacture and sale of foundry chemicals in India. The company offers resins/binders, foundry coatings, and other allied products for applications in various fields, such as foundries, composites, insulation, and refractories, as well as ferrous and non-ferrous foundries.

Full company description

IVP Limited engages in the manufacture and sale of foundry chemicals in India. The company offers resins/binders, foundry coatings, and other allied products for applications in various fields, such as foundries, composites, insulation, and refractories, as well as ferrous and non-ferrous foundries. It also provides polyurethane systems for use in footwear and flexible packaging industry, as well as fiber-reinforced polymer composites, insulation solutions, and refractory and powder resins. The company also exports its products. IVP Limited was incorporated in 1929 and is headquartered in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

IVP Limited reported revenue of ₹5.9B in FY2025 versus ₹5.6B in FY2021, a compound +1.6%/yr. Reported net income was ₹187M in FY2025, compounding +1.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
₹5.9B
Latest YoY
+10.2%
Avg. revenue growth/yr (3Y) 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.
−3.5%
Avg. revenue growth/yr (5Y) 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.
+15.4%
Avg. revenue growth/yr (9Y) 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.
+14.1%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year. 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.
≈ +7.2% (approximate, leans on 2025) · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+6.7%
Dividend yield0.5%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 11.0% vs 10Y 5.6%, picking up
Operating margin (EBIT) 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.4.7% (2020) → 5.1% (2025) · steady
Worst earnings drop183% (2019) (loss year, drop beyond 100%) · in INR
⚠ Final year 2025 sits 52% above its own trend (e.g. a one-off disposal gain), so this rate uses the operating basis instead of reported profit
Revenue +1.6%/yr
FY21 ₹5.6B
FY22 ₹6.6B
FY23 ₹5.5B
FY24 ₹5.4B
FY25 ₹5.9B
Net income +1.5%/yr
FY21 ₹176M
FY22 ₹280M
FY23 ₹123M
FY24 ₹113M
FY25 ₹187M

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Cite: Fair Value Calculator (2026). "IVP Limited Fair Value". https://www.fairvalue-calculator.com/stock/IVP.BSE

Peer Group

Specialty Chemicals · 695 stocks

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.

Quality Score 70 · Top 25%
Fair Value upside +52% · Top 25%
Return on equity (TTM) 13% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth 12% · Above median
Dividend yield (TTM) 0.5% · Bottom 25%

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 6.6× · Cheaper than 75% of peers
P/B 1.22× · Cheaper than median
P/S (TTM) 0.31× · Cheaper than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 3.6× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 18
FUTURE33 · sector 21
PAST0 · sector 34
HEALTH0 · sector 91
DIVIDEND0 · sector 67

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

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $485.35 $222.03 −54%
The Sherwin-Williams Company SHW $344.86 $143.38 −58%
Ecolab Inc ECL $286.75 $96.18 −66%
Air Products and Chemicals, Inc APD $308.09 $122.14 −60%
Givaudan SA GIVN CHF 3,282 CHF 1,498 −54%
Wanhua Chemical Group 600309 ¥77.66 ¥68.03 −12%
500820 500820 ₹2,757 ₹557.43 −80%
Novozymes A/S NSISB kr 456.40 kr 169.99 −63%
Asian Paints Limited ASIANPAINT ₹2,630 ₹696.23 −74%
PPG Industries, Inc PPG $114.22 $71.31 −38%

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Frequently asked questions

Is IVP Limited (IVP) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ₹307.53 versus a price of ₹202.40, about +52% upside (undervalued).
What is the fair value of IVP?
Our model-based fair value for IVP Limited is ₹307.53 (as of Aug 21, 2026), built from audited fundamentals. The current price: ₹202.40.
What is the quality score of IVP?
IVP Limited has a Quality Score of 70/100. 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 IVP Limited (IVP)?
Our model-based price target is the fair value of ₹307.53 (as of Aug 21, 2026) from 24 valuation models. Cautious scenario ₹230.64, optimistic scenario ₹384.41. It is a calculation from audited fundamentals, not an analyst target.
What is the IVP Limited stock forecast for 2026?
Our models put fair value at ₹307.53, about +52% upside versus a price of ₹202.40 (undervalued). Cautious scenario ₹230.64, optimistic scenario ₹384.41. The calculation is refreshed regularly with new filings.
What is the revenue of IVP Limited (IVP)?
IVP Limited reported trailing-twelve-month revenue of about ₹6.1B (latest available figure, as of Aug 21, 2026).
What is the net profit margin of IVP?
The net profit margin of IVP Limited is about 5.2%, meaning it keeps roughly 5.2% of revenue as net income. Based on the latest reported figures.
Does IVP Limited pay a dividend?
IVP Limited currently shows a dividend yield of about 0.54% relative to its recent price (as of Aug 21, 2026).
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