Chemical Stock Hits 20% Upper Circuit After Its Net Profit Soars 145% YoY

Synopsis: IVP Limited shares wellknow for exporting a wide range of chemicals, hit a 20% upper circuit after reporting robust Q3 Results with a 145% YoY jump in net profit to ₹4.63 crore, thereby attracting investors regarding its growth story.

The shares of the Micro-Cap company specializing in the manufacturing and exporting of a wide range of chemicals, particularly foundry chemicals and polyurethane (PU) systems, are in focus following their results with a 145 percent rise in Profit.

With a market capitalization of 153.60 Crores on Friday, the shares of IVP Limited hit a 20 percent upper circuit, reaching a high of Rs. 159.45 compared to its previous close of Rs. 132.90.

What Happened

IVP Limited, engaged in the manufacturing and exporting of a wide range of chemicals, particularly foundry chemicals and polyurethane (PU) systems, is in the spotlight today as it has announced its Q3 results as follows:

Its Revenue from operations rose by 12 percent YoY from Rs.129 Crores in Q3FY25 to Rs. 145 Crores in Q3FY26, and it declined by 1.3 percent QoQ from Rs. 147 Crores in Q2FY26 to Rs. 145 Crores in Q3FY26.

Its Net Profit YoY rose by 145 percent from Rs. 1.89 Crores in Q3FY25 to Rs. 4.63 Crores in Q3FY26, and on a QoQ basis, it rose by 16 percent from Rs. 4.00 Crores in Q2FY26 to Rs. 4.63 Crores in Q3FY26. The earnings per share (EPS) for the quarterly period stood at Rs. 4.48, compared to Rs. 1.84  in the previous year’s quarter.

Company Overview & Others

IVP Limited, established in 1929, is a publicly listed company and a key member of the Allana Group. Originally associated with the Tata Group, it later evolved under the Allana Group’s leadership. 

Initially focused on the vegetable oil business, IVP expanded into diverse sectors, notably becoming the first Indian company to produce foundry chemicals. With manufacturing facilities in Tarapur and Bangalore, IVP has a combined annual production capacity of around 50,000 tonnes.

It serves industries such as PU systems for footwear, adhesives for flexible packaging, foundry chemicals, coatings, composites, refractory materials, and insulation resins. As a trusted player in these sectors, IVP Limited continues to contribute to the growth and success of both the Allana Group and its valued clients.

The company shows a decent return on capital employed (ROCE) of 9.99% and a return on equity (ROE) of 8.44%, indicating it generates reasonable profits from both its capital and shareholder equity. Its debt-to-equity ratio of 0.69 suggests a moderate level of leverage, signaling a balanced approach between debt and equity financing.

Additionally, valuation-wise, the stock appears attractive compared to the industry. With a P/E of 11.0 versus the industry’s 26.1 and trading at 0.94 times its book value, it may be undervalued.

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