IGL Spirits Enters Stock Market With Strong Financial Numbers Following India Glycols Demerger, Profit Surges To ₹244 Crore As Revenue Nearly Doubles In Two Years

Mumbai: IGL Spirits Limited made its stock market debut on Wednesday, November 4, 2026, with its shares commencing trading on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) following the demerger of India Glycols Limited's potable spirits and biofuels businesses. The listing marks a new chapter for the company, which enters the stock market with a growing revenue base and improved profitability.

Revenue Growth

IGL Spirits reported combined revenue of Rs 2,801 crore from its potable spirits and biofuels businesses in FY26, compared with Rs 2,219 crore in FY25. Revenue stood at Rs 1,459 crore in FY24, highlighting the expansion of its operations over the past two financial years.

Profit Performance

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased to Rs 492 crore in FY26 from Rs 350 crore in FY25. The company's EBITDA stood at Rs 224 crore in FY24. Its EBITDA margin improved to 17.6 per cent in FY26 from 15.4 per cent in FY24, indicating stronger operating profitability. Profit after tax reached Rs 244 crore in FY26, compared with Rs 151 crore in FY25 and Rs 88 crore in FY24.

Spirits Business

IGL Spirits' potable spirits division recorded sales of 30 million cases during FY26, generating net revenue of Rs 1,331 crore. The segment represents a significant part of the company's business portfolio.

Biofuels Operations

The biofuels business contributed Rs 1,470 crore to FY26 revenue, making it another major revenue contributor. Manufacturing operations are supported by facilities in Kashipur, Uttarakhand, and Gorakhpur, Uttar Pradesh.

Production Capacity

IGL Spirits has annual manufacturing capacity of 379 million litres for ethyl alcohol and 136 million litres for potable alcohol. Following its listing, the company's performance will depend on operational execution, market demand and profitability across both business segments.

Disclaimer: This report is based on company disclosures and is for informational purposes only. Investors should assess risks before making investment decisions.