India Gelatine & Chemicals Ltd – Company Report
1. Company Overview
India Gelatine & Chemicals Ltd (IGCL), established in 1973 and headquartered in Mumbai, Maharashtra, with a manufacturing plant in Vapi, Gujarat, is a leading Indian manufacturer specializing in gelatine, ossein, and specialty chemical products. Originally set up with technical collaboration from Konica Gelatine Corporation, Japan, and financial support from Nichimen Corporation, IGCL began production in 1975. It is part of the diversified KVS Group and is publicly listed on both the Bombay Stock Exchange and Ahmedabad Stock Exchange. The company is managed by an experienced leadership team, including current Managing Director Viren C. Mirani, and employs approximately 201–500 people.
- Incorporated: 1973
- Headquarters: Mumbai, Maharashtra
- Manufacturing Facility: Vapi, Gujarat
- Managing Director: Viren C. Mirani
- Employees: 201–500 (est.)
- Listings: BSE, ASE
- Business Focus: Gelatine, collagen, ossein, and specialty phosphate products
2. Products and Services
India Gelatine & Chemicals Ltd manufactures and exports a wide portfolio of products catering to the food, pharmaceutical, photographic, cosmetic, agricultural, and industrial sectors:
- Edible Gelatine: Used in confectionery, bakery products, dairy desserts, beverages, and health supplements
- Pharmaceutical Gelatine: For capsule shells, tablet coatings, and drug delivery systems requiring high purity and biocompatibility
- Photographic Gelatine: For photographic films and imaging applications
- Technical Gelatine: Used in cosmetics, clarifying agents, metal electrolysis, and industrial applications
- Ossein: A key raw material for gelatine, mainly exported and used in pharma and edible gelatine industries
- Di-Calcium Phosphate (DCP) Powder: Used in animal feed and supplements
- Collagen and Marine Collagen (brand: Everpure Life): Nutritional supplements and beauty products
- Specialty Chemicals: Including gelling agents and photo chemicals for industrial uses
IGCL exports its products across Asia, the Far East, and Europe, and serves several prominent global and domestic clients.
3. Recent News and Financial Performance
Recent Highlights:
- Strong profitability backed by stable revenue growth across edible and pharma gelatine segments.
- Continued export focus to Asian and European markets.
- The company maintained a debt-light balance sheet with a consistent ROE between 13–17% in the past few years.
- No dividend declared for FY2025, likely due to internal reinvestment plans or cash preservation strategy.
4. Financial Performance (FY2025):
| Metric | FY2025 Value |
|---|---|
| Total Revenue | ₹207 crore |
| Net Profit | ₹17.4 crore |
| Operating Profit Margin | 11% |
| Net Profit Margin | 8% |
| Earnings Per Share (EPS) | ₹24.52 |
| Dividend | Not Declared |