Announcement • Jul 27
IVP Limited to Report Q1, 2027 Results on Aug 06, 2026 IVP Limited announced that they will report Q1, 2027 results on Aug 06, 2026 Declared Dividend • Jul 16
Dividend increased to ₹1.50 Dividend of ₹1.50 is 50% higher than last year. Ex-date: 30th July 2026 Payment date: 5th September 2026 Dividend yield will be 0.9%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (3% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 33% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 15
IVP Limited announces Annual dividend, payable on September 05, 2026 IVP Limited announced Annual dividend of INR 1.5000 per share payable on September 05, 2026, ex-date on July 30, 2026 and record date on July 30, 2026. Reported Earnings • Jul 15
Full year 2026 earnings released: EPS: ₹18.09 (vs ₹10.95 in FY 2025) Full year 2026 results: EPS: ₹18.09 (up from ₹10.95 in FY 2025). Revenue: ₹5.95b (up 10% from FY 2025). Net income: ₹186.8m (up 65% from FY 2025). Profit margin: 3.1% (up from 2.1% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • Jul 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (₹1.96b market cap, or US$20.5m). Announcement • Jul 06
IVP Limited, Annual General Meeting, Aug 06, 2026 IVP Limited, Annual General Meeting, Aug 06, 2026, at 11:00 Indian Standard Time. Location: mumbai India Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹189, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 21x in the Chemicals industry in India. Total returns to shareholders of 19% over the past three years. Reported Earnings • May 23
Full year 2026 earnings released: EPS: ₹18.09 (vs ₹10.95 in FY 2025) Full year 2026 results: EPS: ₹18.09 (up from ₹10.95 in FY 2025). Revenue: ₹5.99b (up 11% from FY 2025). Net income: ₹186.8m (up 65% from FY 2025). Profit margin: 3.1% (up from 2.1% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • May 13
IVP Limited to Report Q4, 2026 Results on May 21, 2026 IVP Limited announced that they will report Q4, 2026 results on May 21, 2026 New Risk • Feb 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (3.0x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (₹1.41b market cap, or US$15.5m). Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: ₹4.48 (vs ₹1.84 in 3Q 2025) Third quarter 2026 results: EPS: ₹4.48 (up from ₹1.84 in 3Q 2025). Revenue: ₹1.46b (up 13% from 3Q 2025). Net income: ₹46.3m (up 145% from 3Q 2025). Profit margin: 3.2% (up from 1.5% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Jan 22
IVP Limited to Report Q3, 2026 Results on Jan 29, 2026 IVP Limited announced that they will report Q3, 2026 results on Jan 29, 2026 Reported Earnings • Nov 06
Second quarter 2026 earnings released: EPS: ₹3.87 (vs ₹2.09 in 2Q 2025) Second quarter 2026 results: EPS: ₹3.87 (up from ₹2.09 in 2Q 2025). Revenue: ₹1.48b (up 21% from 2Q 2025). Net income: ₹40.0m (up 85% from 2Q 2025). Profit margin: 2.7% (up from 1.8% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Oct 23
IVP Limited to Report Q2, 2026 Results on Nov 05, 2025 IVP Limited announced that they will report Q2, 2026 results on Nov 05, 2025 New Risk • Aug 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.7% Last year net profit margin: 2.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.9% average weekly change). Profit margins are more than 30% lower than last year (1.7% net profit margin). Market cap is less than US$100m (₹1.88b market cap, or US$21.6m). Announcement • Jul 22
IVP Limited to Report Q1, 2026 Results on Jul 31, 2025 IVP Limited announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • Jul 10
Full year 2025 earnings released: EPS: ₹10.95 (vs ₹11.89 in FY 2024) Full year 2025 results: EPS: ₹10.95 (down from ₹11.89 in FY 2024). Revenue: ₹5.39b (down 1.3% from FY 2024). Net income: ₹113.1m (down 7.9% from FY 2024). Profit margin: 2.1% (in line with FY 2024). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Dividend of ₹1.00 announced Dividend of ₹1.00 is the same as last year. Ex-date: 24th July 2025 Payment date: 30th August 2025 Dividend yield will be 0.5%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 16
Full year 2025 earnings released: EPS: ₹10.96 (vs ₹11.89 in FY 2024) Full year 2025 results: EPS: ₹10.96 (down from ₹11.89 in FY 2024). Revenue: ₹5.43b (flat on FY 2024). Net income: ₹113.1m (down 7.9% from FY 2024). Profit margin: 2.1% (in line with FY 2024). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹199, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 25x in the Chemicals industry in India. Total returns to shareholders of 23% over the past three years. New Risk • May 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 10.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Share price has been highly volatile over the past 3 months (10.0% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₹1.76b market cap, or US$20.9m). Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹147, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 25x in the Chemicals industry in India. Total loss to shareholders of 2.6% over the past three years. Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: ₹1.84 (vs ₹1.66 in 3Q 2024) Third quarter 2025 results: EPS: ₹1.84 (up from ₹1.66 in 3Q 2024). Revenue: ₹1.30b (up 6.6% from 3Q 2024). Net income: ₹18.9m (up 11% from 3Q 2024). Profit margin: 1.4% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Jan 23
IVP Limited to Report Q3, 2025 Results on Jan 30, 2025 IVP Limited announced that they will report Q3, 2025 results on Jan 30, 2025 Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹241, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 31x in the Chemicals industry in India. Total returns to shareholders of 97% over the past three years. New Risk • Nov 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.5% average weekly change). Profit margins are more than 30% lower than last year (2.3% net profit margin). Market cap is less than US$100m (₹2.45b market cap, or US$29.0m). Reported Earnings • Nov 12
Second quarter 2025 earnings released: EPS: ₹2.09 (vs ₹4.49 in 2Q 2024) Second quarter 2025 results: EPS: ₹2.09 (down from ₹4.49 in 2Q 2024). Revenue: ₹1.23b (down 14% from 2Q 2024). Net income: ₹21.6m (down 53% from 2Q 2024). Profit margin: 1.8% (down from 3.3% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Nov 05
IVP Limited to Report Q2, 2025 Results on Nov 11, 2024 IVP Limited announced that they will report Q2, 2025 results on Nov 11, 2024 Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹243, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 34x in the Chemicals industry in India. Total returns to shareholders of 107% over the past three years. Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: ₹3.32 (vs ₹1.15 in 1Q 2024) First quarter 2025 results: EPS: ₹3.32 (up from ₹1.15 in 1Q 2024). Revenue: ₹1.39b (flat on 1Q 2024). Net income: ₹34.3m (up 188% from 1Q 2024). Profit margin: 2.5% (up from 0.9% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 08
IVP Limited Announces Completion of Term of Amin Manekia as Independent Director, Effective August 11, 2024 The Board of directors of IVP Limited in its meeting held on August 8, 2024 has approved the completion of the term of Mr. Amin Manekia (DIN: 00053745) as an Independent Director. As a result, Mr. Manekia will cease to act as a director of the company with effect from the closing hours on August 11, 2024. Announcement • Jul 29
IVP Limited to Report Q1, 2025 Results on Aug 08, 2024 IVP Limited announced that they will report Q1, 2025 results on Aug 08, 2024 Declared Dividend • Jul 17
Dividend of ₹1.00 announced Shareholders will receive a dividend of ₹1.00. Ex-date: 1st August 2024 Payment date: 7th September 2024 Dividend yield will be 0.5%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (2% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. Earnings per share has grown by 29% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 16
IVP Limited, Annual General Meeting, Aug 08, 2024 IVP Limited, Annual General Meeting, Aug 08, 2024, at 11:00 Indian Standard Time. Location: the k r cama oriental institute, 136, mumbai samachar marg, opp. lion gate, mumbai-400001, mumbai India Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹234, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 35x in the Chemicals industry in India. Total returns to shareholders of 83% over the past three years. New Risk • Jun 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Profit margins are more than 30% lower than last year (2.2% net profit margin). Market cap is less than US$100m (₹1.68b market cap, or US$20.2m). Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹196, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 32x in the Chemicals industry in India. Total returns to shareholders of 44% over the past three years. New Risk • May 30
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.2% net profit margin). Market cap is less than US$100m (₹1.70b market cap, or US$20.4m). Announcement • May 18
IVP Limited to Report Q4, 2024 Results on May 23, 2024 IVP Limited announced that they will report Q4, 2024 results on May 23, 2024 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹179, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 30x in the Chemicals industry in India. Total returns to shareholders of 72% over the past three years. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹152, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 28x in the Chemicals industry in India. Total returns to shareholders of 22% over the past three years. Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: ₹1.66 (vs ₹9.94 in 3Q 2023) Third quarter 2024 results: EPS: ₹1.66 (down from ₹9.94 in 3Q 2023). Revenue: ₹1.23b (down 21% from 3Q 2023). Net income: ₹17.1m (down 83% from 3Q 2023). Profit margin: 1.4% (down from 6.6% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Jan 31
IVP Limited to Report Q3, 2024 Results on Feb 09, 2024 IVP Limited announced that they will report Q3, 2024 results on Feb 09, 2024 Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹276, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 31x in the Chemicals industry in India. Total returns to shareholders of 264% over the past three years. New Risk • Nov 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (70% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₹2.20b market cap, or US$26.4m). Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹226, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 28x in the Chemicals industry in India. Total returns to shareholders of 238% over the past three years. Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: ₹4.49 (vs ₹5.53 in 2Q 2023) Second quarter 2024 results: EPS: ₹4.49 (down from ₹5.53 in 2Q 2023). Revenue: ₹1.43b (down 15% from 2Q 2023). Net income: ₹46.4m (down 19% from 2Q 2023). Profit margin: 3.3% (down from 3.4% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹182, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 27x in the Chemicals industry in India. Total returns to shareholders of 349% over the past three years. Announcement • Sep 14
Ivp Limited Announces Resignation of Mrs. Vidya Shetty as Head of Human Resource IVP Limited announced that Mrs. Vidya Shetty, Head of Human Resource (HR)(Senior Management personnel) of the Company has resigned from the services of the Company to pursue her professional interest outside the Company.The Company has on 13 September, 2023 has accepted her resignation. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹140, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 25x in the Chemicals industry in India. Total returns to shareholders of 187% over the past three years. New Risk • Aug 11
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (₹1.59b market cap, or US$19.2m). Announcement • Aug 03
IVP Limited to Report Q1, 2024 Results on Aug 10, 2023 IVP Limited announced that they will report Q1, 2024 results on Aug 10, 2023 Upcoming Dividend • Jul 27
Upcoming dividend of ₹1.50 per share at 0.9% yield Eligible shareholders must have bought the stock before 03 August 2023. Payment date: 09 September 2023. Payout ratio is a comfortable 5.5% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.9%). Reported Earnings • Jul 15
Full year 2023 earnings released: EPS: ₹27.14 (vs ₹17.07 in FY 2022) Full year 2023 results: EPS: ₹27.14 (up from ₹17.07 in FY 2022). Revenue: ₹6.61b (up 19% from FY 2022). Net income: ₹280.2m (up 59% from FY 2022). Profit margin: 4.2% (up from 3.2% in FY 2022). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 61% per year, which means it is significantly lagging earnings growth. Announcement • Jul 14
IVP Limited Recommends Dividend for the Financial Year 2022-23 IVP Limited announced to recommend payment of dividend for the Financial Year 2022-23 at INR 1.50 per Equity Share of INR 10 each and Annual General Meeting (AGM) to be held on 10th August, 2023. The Company has fixed 03rd August, 2023 as the "Cut-off Date/Record Date" for the purpose of determining the Members eligible to vote on the resolutions set out in the Notice of the AGM or to attend the AGM and for determining the Members eligible to receive dividend for the financial year 2022-23. Announcement • Jul 13
IVP Limited, Annual General Meeting, Aug 10, 2023 IVP Limited, Annual General Meeting, Aug 10, 2023, at 11:00 Indian Standard Time. Location: M.C. Ghia hall, Bhogilal Hargovindas Building 4th Floor, 18/20 Kaikhushru Dubash Marg Mumbai India Agenda: To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2023 together with the reports of the Board of Directors and Auditors thereon; to declare final dividend on the equity shares for the financial year ended March 31, 2023; to appoint a director in place of Mr. Anwar Chauhan who retires by rotation and being eligible, offers himself for re-appointment; and to consider Ratification of Remuneration to the Cost Auditors. New Risk • Jul 05
New major risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.7% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₹1.71b market cap, or US$20.7m). Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: ₹27.13 (vs ₹17.07 in FY 2022) Full year 2023 results: EPS: ₹27.13 (up from ₹17.07 in FY 2022). Revenue: ₹6.64b (up 19% from FY 2022). Net income: ₹280.2m (up 59% from FY 2022). Profit margin: 4.2% (up from 3.2% in FY 2022). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 72% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹170, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 415% over the past three years. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹9.94 (vs ₹6.18 in 3Q 2022) Third quarter 2023 results: EPS: ₹9.94 (up from ₹6.18 in 3Q 2022). Revenue: ₹1.56b (flat on 3Q 2022). Net income: ₹102.7m (up 61% from 3Q 2022). Profit margin: 6.6% (up from 4.1% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Announcement • Feb 02
IVP Limited to Report Q3, 2023 Results on Feb 09, 2023 IVP Limited announced that they will report Q3, 2023 results on Feb 09, 2023 Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: ₹5.53 (vs ₹3.57 in 2Q 2022) Second quarter 2023 results: EPS: ₹5.53 (up from ₹3.57 in 2Q 2022). Revenue: ₹1.68b (up 13% from 2Q 2022). Net income: ₹57.1m (up 55% from 2Q 2022). Profit margin: 3.4% (up from 2.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Nov 10
IVP Limited Appoints Jay R Mehta as Company Secretary and Compliance Officer The Board of directors of IVP Limited at their meeting held on November 9, 2022 based on the recommendation of the Nomination and Remuneration Committee approved the appointment of Mr. Jay R Mehta as the Company Secretary and Compliance Officer of the Company with effect from 9 November, 2022. Mr. Jay R Mehta, is an Associate Member of the Institute of Company Secretaries of India, and has done LLB from G. J. Advani Law College. He has over 15 years of experience across Corporate Compliance in areas such as Takeover, Mergers, Demergers, IBC, Delisting, preferential issue, QIB, converting the Loan into Equity Shares through SDR, Implementation of Resolution Plan under IBC Scheme as per Hon'ble NCLT order, Joint Venture etc. Prior to joining IVP Ltd, he has worked with listed Companies of Uttam Galva Group and MTC Group. Announcement • Nov 03
IVP Limited to Report Q2, 2023 Results on Nov 09, 2022 IVP Limited announced that they will report Q2, 2023 results on Nov 09, 2022 Announcement • Sep 14
IVP Limited Announces Resignation of Nisha Kantirao as Company Secretary & Compliance Officer IVP Limited announced that Mrs. Nisha Kantirao has tendered her resignation from the post of Company Secretary & Compliance Officer of the Company. She will continue in her current position as Company Secretary and Compliance Officer till 15th October 2022. Date of cessation is 16 October 2022. Announcement • Jul 22
IVP Limited to Report Q1, 2023 Results on Jul 28, 2022 IVP Limited announced that they will report Q1, 2023 results on Jul 28, 2022 Upcoming Dividend • Jul 13
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 20 July 2022. Payment date: 27 August 2022. Payout ratio is a comfortable 8.8% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.8%). In line with average of industry peers (0.8%). Reported Earnings • Jul 02
Full year 2022 earnings released: EPS: ₹17.07 (vs ₹4.36 in FY 2021) Full year 2022 results: EPS: ₹17.07 (up from ₹4.36 in FY 2021). Revenue: ₹5.57b (up 92% from FY 2021). Net income: ₹176.3m (up 292% from FY 2021). Profit margin: 3.2% (up from 1.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improved over the past week After last week's 15% share price gain to ₹172, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 17x in the Chemicals industry in India. Total returns to shareholders of 107% over the past three years. Reported Earnings • May 19
Full year 2022 earnings released: EPS: ₹17.07 (vs ₹4.36 in FY 2021) Full year 2022 results: EPS: ₹17.07 (up from ₹4.36 in FY 2021). Revenue: ₹5.60b (up 93% from FY 2021). Net income: ₹176.3m (up 292% from FY 2021). Profit margin: 3.1% (up from 1.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • May 18
IVP Limited Recommends Final Dividend for the Financial Year Ended March 31, 2022 IVP Limited at its board meeting held on May 17, 2022 recommended a final dividend of 15% (INR 1.5 per share) on Equity shares of INR 10 each for the financial year ended March 31, 2022. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 16% share price gain to ₹166, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 69% over the past three years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 16% share price gain to ₹172, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 17% share price gain to ₹166, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 34% over the past three years. Reported Earnings • Feb 13
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹6.18 (up from ₹4.20 in 3Q 2021). Revenue: ₹1.57b (up 74% from 3Q 2021). Net income: ₹63.8m (up 47% from 3Q 2021). Profit margin: 4.1% (down from 4.8% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 17% share price gain to ₹143, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 62% over the past three years. Announcement • Feb 02
IVP Limited to Report Q3, 2022 Results on Feb 10, 2022 IVP Limited announced that they will report Q3, 2022 results on Feb 10, 2022 Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improved over the past week After last week's 18% share price gain to ₹122, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 18x in the Chemicals industry in India. Total loss to shareholders of 20% over the past three years. Executive Departure • Aug 04
Non-Executive & Non-Independent Director Priya Ranjan has left the company On the 28th of July, Priya Ranjan's tenure as Non-Executive & Non-Independent Director ended after 3.5 years in the role. We don't have any record of a personal shareholding under Priya's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.83 years. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 16% share price gain to ₹144, the stock trades at a trailing P/E ratio of 33.3x. Average trailing P/E is 20x in the Chemicals industry in India. Total loss to shareholders of 14% over the past three years. Upcoming Dividend • Jul 12
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 19 July 2021. Payment date: 27 August 2021. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.7%). Reported Earnings • Jul 06
Full year 2021 earnings released: EPS ₹4.36 (vs ₹8.35 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹2.90b (up 27% from FY 2020). Net income: ₹45.0m (up ₹131.2m from FY 2020). Profit margin: 1.6% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Executive Departure • Jun 18
Independent Director Nina Kapadia has left the company On the 11th of June, Nina Kapadia's tenure as Independent Director ended after 6.8 years in the role. We don't have any record of a personal shareholding under Nina's name. Nina is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.67 years. Reported Earnings • Jun 13
Full year 2021 earnings released: EPS ₹4.35 (vs ₹8.35 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹2.92b (up 28% from FY 2020). Net income: ₹45.0m (up ₹131.2m from FY 2020). Profit margin: 1.5% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 25
New 90-day high: ₹128 The company is up 89% from its price of ₹67.50 on 27 November 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 13% over the same period. Reported Earnings • Feb 13
Third quarter 2021 earnings released: EPS ₹4.20 (vs ₹2.30 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹902.3m (up 83% from 3Q 2020). Net income: ₹43.4m (up ₹67.2m from 3Q 2020). Profit margin: 4.8% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 09
New 90-day high: ₹86.50 The company is up 76% from its price of ₹49.15 on 11 November 2020. The Indian market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 15% over the same period. Announcement • Feb 02
IVP Limited to Report Q3, 2021 Results on Feb 11, 2021 IVP Limited announced that they will report Q3, 2021 results on Feb 11, 2021 Is New 90 Day High Low • Dec 16
New 90-day high: ₹72.90 The company is up 61% from its price of ₹45.20 on 17 September 2020. The Indian market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 12% over the same period. Announcement • Nov 20
IVP Appoints Ajay Vashee as a General Partner IVP reported that Ajay Vashee is joining as a General Partner. Vashee brings deep operational and financial experience to the role, and will invest in high-growth technology companies across a range of markets, with an initial focus on SaaS, collaboration software, and subscription businesses. Most recently, Vashee was Chief Financial Officer of Dropbox, where he led the company through its successful IPO and first several years as a public company. During his tenure, Vashee helped Dropbox scale into one of the world's large SaaS businesses from $45 million to nearly $2 billion in revenue, and from 50 million to more than 600 million users. Over that time, the employee base grew 30-fold, and the company opened offices across North America, Europe, the Middle East, and Asia Pacific. Is New 90 Day High Low • Nov 13
New 90-day high: ₹50.65 The company is up 6.0% from its price of ₹47.65 on 14 August 2020. The Indian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 12% over the same period. Announcement • Aug 02
IVP Limited to Report Q1, 2021 Results on Aug 11, 2020 IVP Limited announced that they will report Q1, 2021 results on Aug 11, 2020