IVP Ltd (IVP)
🎯 Key Takeaways
- IVP Ltd is in a consolidation and resolution phase following its acquisition by Tata Sons, with recent legal and regulatory hurdles cleared. The company demonstrates stable profitability and strong returns, but growth appears limited, suggesting maturity in its core chemical business.
- Revenue declined 5.9% QoQ to ₹155 in Q1FY27.
- ⚠️ The company faces execution risk related to the integration of the Tata acquisition and completion of the scheme of arrangement by September 30, 202
- Market Cap
- ₹237
- P/E Ratio
- 7.5
- P/B Ratio
- 1.51
- ROE
- 20.1%
- ROCE
- 21.9%
- Debt/Equity
- 0.42
- Div Yield
- 0.65%
- Promoter
- 71.3%
📖 The Story
IVP Ltd is in a consolidation and resolution phase following its acquisition by Tata Sons, with recent legal and regulatory hurdles cleared. The company demonstrates stable profitability and strong returns, but growth appears limited, suggesting maturity in its core chemical business. Management is focused on finalizing integration and returning capital to shareholders.
📰 What's Happening
In April 2026, IVP announced a binding scheme of arrangement with Tata Sons and Tata Industries to resolve open offer obligations under SEBI Takeover Regulations, enabling the completion of the Tata Group's acquisition. This removed a key regulatory overhang. Additionally, in August 2026, the company recommended a dividend of Rs. 1.5 per share for FY26, with the AGM scheduled for August 6, 2026, to seek shareholder approval. The Bombay High Court also quashed Mumbai Port Authority's rent demands in August 2026, eliminating past financial liabilities and potential penalties.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 147 | 145 | 164 | 155 |
| Operating Profit | 7 | 7 | 12 | 19 |
| OPM % | 4.5% | 4.9% | 7.4% | 12.3% |
| Net Profit | 4 | 5 | 9 | 14 |
| EPS | ₹3.87 | ₹4.48 | ₹8.58 | ₹13.57 |
Quarterly revenue has shown modest improvement, rising to ₹155 crore in June 2026 from ₹145 crore in December 2025, with operating profit margin expanding to 12.3% from 4.9% over the same period. This improvement aligns with management's focus on operational efficiency and integration following the Tata acquisition. Net profit and EPS have also risen sequentially, indicating better cost control and margin recovery despite flat top-line growth in recent quarters.
🔮 Management Outlook & What's Next
Management has not provided forward-looking operational guidance in the latest filings, but the resolution of the open offer obligation and dividend recommendation signal confidence in financial stability. The company emphasized procedural deadlines for dividend tax exemptions, indicating attention to shareholder returns. No growth projections or revenue forecasts were disclosed in the available filings.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 |
| Reserves | 129 | 124 | 147 | 134 |
| Borrowings | 104 | 98 | 65 | 100 |
| Total Liabilities | 348 | 330 | 342 | 331 |
| Fixed Assets | 71 | 71 | 67 | 68 |
| Investments | 0 | 0 | 0 | 0 |
| Total Assets | 348 | 330 | 342 | 331 |
The balance sheet shows a significant reduction in borrowings, declining from ₹100 crore in March 2026 to ₹65 crore in March 2026, while equity and reserves remain stable. This suggests active deleveraging, likely supported by strong operating cash flows. Total assets have stabilized around ₹340 crore, indicating a streamlined capital structure post-acquisition and legal resolution.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2026 |
|---|---|
| Operating | +53 |
| Investing | -3 |
| Financing | -48 |
| Net Cash Flow | +2 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 71.3% | 71.3% | 71.3% | 71.3% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 23.6% | 23.4% | 23.7% | 24.5% |
| # Shareholders | 7,095 | 7,072 | 6,961 | 6,912 |
Promoter holding remains steady at 71.32% across all quarters, indicating no dilution or stake sales. Institutional ownership (FII and DII) is minimal, collectively holding less than 0.1% of shares, suggesting limited foreign or domestic institutional interest. The shareholder base is stable with a large number of retail investors (6,912 to 7,095 shareholders).
⚖️ Peer Comparison — Chemicals
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| PIDILITIND | 1.53 L Cr | 57.6 | 33.4% | — | 0.01 |
| SRF | 73,810 | 34.1 | 15.6% | — | 0.36 |
| LINDEINDIA | 52,814 | 96.7 | 17.5% | — | 0.00 |
| FLUOROCHEM | 48,774 | 79.7 | 9.6% | — | 0.34 |
| NAVINFLUOR | 43,256 | 54.7 | 22.2% | — | 0.31 |
| GODREJIND | 36,153 | 30.8 | 9.2% | — | 4.57 |
| HSCL | 33,807 | 42.0 | 20.7% | — | 0.16 |
| AETHER | 23,029 | 97.7 | 13.8% | — | 0.08 |
| DEEPAKNTR | 21,155 | 27.0 | 15.3% | — | 0.26 |
| CASTROLIND | 19,891 | 18.7 | 76.2% | — | 0.00 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
The company faces execution risk related to the integration of the Tata acquisition and completion of the scheme of arrangement by September 30, 2026. There is also concentration risk in its chemical business, with limited diversification evident in financial trends. Additionally, low institutional interest may lead to lower liquidity, and any delays in regulatory or legal processes could impact momentum.
📋 Recent Filings
- Announcement2026-09-26IVP Limited announced that its trading window will close on October 1, 2026, and remain closed until 48 hours after the unaudited half-yearly results …
- 🔴 Announcement2026-09-09IVP Limited disclosed an employee fraud case where accused Mr. Ravi Ranjan Jha filed a writ petition challenging the FIR and prior legal actions, prom…
- 🔴 Announcement2026-08-31IVP Limited announced that the Bombay High Court quashed Mumbai Port Authority's rent demands and retrospective claims up to March 31, 2024, confirmin…
- Announcement2026-07-25IVP Limited announced that the Mumbai High Court quashed an order from the Mumbai Port Trust Estate Officer and remanded the matter for fresh adjudica…
- 🟡 Board Meeting2026-07-22IVP Limited announced a recommended dividend of Rs. 1.5 per share (15%) for FY 2025-26, subject to shareholder approval at the AGM on August 6, 2026. …
- Announcement2026-07-08IVP Limited announced that a City Civil Court in Mumbai stayed an order from the Mumbai Port Authority pending its appeal, halting enforcement of the …
- Announcement2026-06-29IVP Limited received a directive from the Maharashtra Pollution Control Board to immediately close its manufacturing unit in Tarapur, Maharashtra, cit…
- Financial Results2026-06-26IVP Limited announced that its trading window will close on Wednesday, July 1, 2026, and remain closed until 48 hours after the unaudited financial re…
- Announcement2026-06-23IVP Limited announced that shareholders holding physical shares must update KYC details with MUFG Intime India Private Limited, the company's registra…
- Announcement2026-06-11No summary available
🧠 Analyst's Read
IVP Ltd is transitioning into a stable, dividend-paying entity post-acquisition, with improving margins and deleveraging supporting financial health. Investors should monitor the completion of the Tata Group integration and shareholder response to the dividend proposal at the upcoming AGM.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-29.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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