IGL Spirits Lists on BSE and NSE; Posts FY26 Revenue of ₹2,801 Cr and PAT of ₹244 Cr
IGL Spirits Limited has officially listed on the BSE and NSE on November 4, 2026, following its demerger from India Glycols Limited. The company reported combined FY26 revenues of ₹2,801 crore, up from ₹2,219 crore in FY25, with EBITDA of ₹492 crore and PAT of ₹244 crore. In FY26, potable spirits contributed ₹1,331 crore (30 million cases sold) while biofuels brought in ₹1,470 crore. The firm holds an annual ethyl alcohol capacity of 379 million litres and a potable alcohol capacity of 136 million litres across its UP and Uttarakhand plants.
high confidence
What changedIGL Spirits transitioned to a standalone listed entity on BSE and NSE following its demerger from India Glycols Limited.
Why it mattersProvides pure-play market exposure to potable spirits and biofuels with an independent balance sheet and capital allocation autonomy.
FY26 Combined Revenue: Rs 2,801 croreFY26 EBITDA: Rs 492 croreFY26 Profit After Tax: Rs 244 croreFY26 EBITDA Margin: 17.6%Ethyl Alcohol Capacity: 379 million litresPotable Spirits Sales Volume (FY26): 30 million cases
📅 Short termInitial trading sessions will focus on price discovery and index-related portfolio adjustments post-demerger listing.
📈 Long termIndependent operational structure allows sharper management focus on brand building, regional market consolidation, and biofuels blending tailwinds.
⚠ Risk flags
- Exposure to state-level alcohol excise regulations and duty structures
- Feedstock cost volatility impacting biofuel and distillery margins
👀 What to Watch
Track the inaugural quarterly financial disclosures as an independent listed entity and monitor margin performance across the distinct biofuels and potable spirits divisions.
