Indian Potash Ltd - Unlisted Shares
Fundamentals
- Current Price
- ₹2,950
- Market Cap
- ₹8,436.17 Cr
- ISIN
- INE863S01015
- Face Value
- ₹10
- P/E Ratio
- 5.08
- EPS
- ₹580.95
- P/B Ratio
- 0
- Book Value
- 3,958.95
- Debt / Equity Ratio
- 0.46
Key Financials
Profit & Loss
| Metric | FY2025 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | 20,688.91 | 20,946.4 | 33,323.0 | 18,503.5 | 16,303.9 | 14483.4 | 15430.1 |
| Growth % | -1% | -37% | 80% | 13% | 13% | -6% | 0 |
| Operating Expenses | 19606.53 | 20,546.0 | 32,241.45 | 17,726.04 | 15,617.17 | 13,847.14 | 14,895.31 |
| Growth % | -5% | -36% | 82% | 14% | 13% | -7% | 0 |
| Operating Profit | 1,082.4 | 400.5 | 1,081.6 | 777.5 | 686.7 | 636.2 | 534.8 |
| Op. Profit Margin % | 5.2% | 1.9% | 3.2% | 4.2% | 4.2% | 4.4% | 3.5% |
| Other Income + share of net profits from investments | 2172.04 | 2,257.2 | 2,369.6 | 1,419.2 | 621.8 | 231.8 | 436.8 |
| Finance Costs | 499.42 | 383.76 | 695.8 | 118.1 | 151.1 | 253.8 | 283.8 |
| Depreciation | 68.37 | 60.7 | 47.7 | 46.4 | 51.2 | 52.3 | 42.5 |
| Profit Before Tax | 2,686.6 | 2,213.2 | 2,707.7 | 2,032.1 | 1,106.2 | 561.84 | 645.3 |
| Tax | 1,025.28 | 955.3 | 833.3 | 414.5 | 253.6 | 184.8 | 191.0 |
| Tax % | 38% | 43% | 31% | 20% | 23% | 33% | 30% |
| Profit After Tax | 1,661.4 | 1,257.8 | 1,874.4 | 1,617.7 | 852.6 | 377.1 | 454.3 |
| Growth % | 32.1% | -32.9% | 15.9% | 89.7% | 126.1% | -17.0% | 0 |
| PAT % | 8% | 6% | 6% | 9% | 5% | 3% | 3% |
| Diluted EPS | 580.95 | 439.84 | 655.46 | 565.67 | 298.1 | 131.9 | 158.9 |
Company Financials
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Equity Capital | 28.6 | 28.6 | 28.6 | 28.6 | 28.6 | 28.6 | 28.6 |
| Reserves | 11,292.89 | 9,487.6 | 8,211.2 | 6,097.7 | 4,478.2 | 3,631.8 | 3,217.5 |
| Total Equity | 11,321.5 | 9,516.2 | 8,239.8 | 6,126.3 | 4,506.8 | 3,660.4 | 3,246.1 |
| Borrowings | 71.8 | 124.9 | 124.6 | 47.8 | 69.1 | 97.5 | 292.5 |
| Other Non-Current Liabilities | 1,323.6 | 1,084.2 | 897.6 | 226.3 | 51.8 | 66.9 | 50.2 |
| Total NC Liabilities | 1,395.37 | 1209.1 | 1,022.2 | 274.1 | 120.9 | 164.4 | 342.7 |
| Borrowings | 5,191.99 | 4449.6 | 3,839.2 | 5,496.6 | 2,707.7 | 3,575.4 | 2,851.5 |
| Other Current Liabilities | 4,201.0 | 2,446.3 | 5,963.6 | 9,481.2 | 3,050.5 | 4,181.6 | 4,034.5 |
| Total Current Liabilities | 9,392.99 | 6896.0 | 9,802.8 | 14,977.9 | 5,758.3 | 7,757.0 | 6,886.0 |
| Equity + Liabilities | 22,109.9 | 17,621.4 | 19,064.8 | 21,378.2 | 10,385.9 | 11,581.8 | 10,474.8 |
| Fixed Assets (incl. WIP) | 2149.09 | 1538.8 | 5,791.3 | 1,148.7 | 1,059.1 | 955.6 | 842.1 |
| Other Non Current Assets | 8,723.54 | 5838.4 | 488.4 | 3,037.8 | 1,933.1 | 1,470.6 | 1,492.1 |
| Total NC Assets | 10,872.63 | 7,377.2 | 6,279.7 | 4,186.5 | 2,992.1 | 2,426.2 | 2,334.2 |
| Trade Receivables | 4,507.11 | 3669.7 | 5,454.4 | 1,900.2 | 3,066.6 | 5,408.4 | 4,301.9 |
| Cash & Cash Equivalents | 421.06 | 613.6 | 1,400.7 | 5,110.2 | 1,224.9 | 542.4 | 753.5 |
| Other Current Assets | 6,309.1 | 5,960.8 | 5,930.0 | 10,181.4 | 3,102.3 | 3,204.8 | 3,085.1 |
| Total Current Assets | 11,237.22 | 10,244.1 | 12,785.1 | 17,191.7 | 7,393.8 | 9,155.6 | 8,140.5 |
| Total Assets | 22,109.9 | 17,621.4 | 19,064.8 | 21,378.2 | 10,385.9 | 11,581.8 | 10,474.8 |
Shareholding Pattern
- Indian Farmers Fertilisers Cooperative Ltd
- 33.99%
- Gujarat State Co-operative Marketing Federation Limited
- 10.45%
- Gujarat State Fertilisers and Chemicals Limited
- 7.87%
- Andhra Pradesh State Cooperative Marketing Federation Limited
- 6.23%
- Madras Fertilisers Limited
- 5.54%
- Others
- 35.92%
Strengths & Weaknesses
Strengths
- Dominance in Fertiliser Trading Market: India's Muriate of Potash (MOP) trade is dominated by the company, controlling a whopping 69% of all MOP imports in the FY22. Additionally, due to higher domestic demand for urea compared to its production, IPL acts as an import agent on behalf of the Ministry of Fertilizer.
- Resilient Profitability Amid Revenue Dip: While revenue dropped by 37.8% in FY24 and remained flat in FY25 at ₹20,688 Cr, IPL maintained a healthy Operating Profit of ₹1,082 Cr and improved operating margins to 5.2% in FY25 — the highest in 7 years, showing strong cost control and pricing power.
- Future Business Diversification: IPL’s diversification continues with expansion into sugar, cattle feed, and dairy. The ₹1,341 Cr acquisition of a sugar/distillery plant in Odisha is already reflecting in the increased fixed assets from ₹1,149 Cr (FY22) to ₹2,149 Cr in FY25.
Weaknesses
- Price and Forex Risk: IPL has a significant amount of outstanding debts and letters of credit denominated in US dollars and euros. If the Indian rupee weakens considerably, this could lead to substantial losses due to forex conversion.
- Increase in Borrowings: The long-term borrowings have increased from 4,449.69 Cr in FY24 to 5,191.99 Cr in FY25
About Indian Potash Ltd
Incorporated in 1955 as the Indian Potash Supply Agency (IPSA) for importing and promoting potash fertilisers across India, the company was rebranded as IPL in 1971.
Board of Directors
- Shri. Pankaj Kumar Bansal, IAS - Chairman
- Shri. Kamal Dayani, IAS - Director
- Shri. Manoj Kumar Jain - Director
- Thiru. Siva Muthukkumarasamy - Director
- Shri. Sony Sebastian - Director
- Shri. Arvind Kumar Kadyan - Director
- Shri. Santosh Kumar Dash, OAS (SS) - Director
- Shri. Manish Gupta - Director
- Shri. Rakesh Kapur - Director
- Shri. Dileep Sanghani - Director
- Dr. U. S. Awasthi - Director
- Shri. Alok Kumar Singh, IAS - Director
- Shri. Kumar Amit, IAS - Director
- Dr. P. S. Gahlaut - Managing Director
- Shri. Sudhir Bhargava - Independent Director
- Ms. Vandana Chanana - Independent Director
Senior Management
- Dr. P. S. Gahlaut - Managing Director
- Shri. R. Srinivasan - Chief Financial Officer
- Dr. Girish Kumar - Company Secretary
Frequently Asked Questions
- Who are the shareholders of Indian Potash Limited?
- Indian Farmers Fertiliser Cooperative is the largest shareholder in Indian Potash, with 33.99% shares. Gujarat State Co-Op MKTG Federation Limited holds 10.45% of shares amongst others from the cooperative sector.
- Who is the Owner of Indian Potash Limited?
- The Indian Farmers Fertilizers Cooperative is the largest shareholder, with 33.99% shares in Indian Potash, and other companies from the cooperative sector hold 70% of the shares.
- Who Bought the Company Potash?
- Indian Potash Limited is currently owned by its shareholders, and 70% of the stakes are held by the cooperative sector.
- How Can I Invest in Indian Potash?
- It is a wise choice to invest in Indian Potash, considering their past performance. It is very simple to invest; you can simply invest in their shares with InCred. Connect with our experts, and they will guide you through the process.
- Can You Buy Indian Potash Stocks?
- Yes, you can buy Indian Potash’s unlisted stocks online through reliable dealers.
- Is Indian Potash profitable?
- Yes, Indian Potash is a profitable company with a strong share market hold.
- How to buy Indian Potash Limited Unlisted Shares?
- To Buy Indian Potash Ltd. Unlisted Shares follow the given steps:
- Register on the InCred Unlisted Platform.
- Complete your KYC verification.
- Go to the Indian Potash Ltd. Unlisted shares page, select the desired quantity, and click Buy. - How to Sell Indian Potash Limited Unlisted Shares?
- We suggest that an investor should not invest in unlisted equities with a mindset of trading or selling it in a short period of time.
But we understand that there may be an event where you may want to liquidate your shares. In that case, you can drop us an email on connect@incredunlisted.com with the following details:
- Name
- Registered email address with InCred Unlisted
- PAN number
- Name of the company that you are looking to sell
- Quantum
- Your expected price
Once we receive your email, our team will reach out to you.
We will then attempt to find a buyer for your units on a best-effort basis. Once we find a match for your price and quantity, we will notify you and initiate the transaction.
Steps once transaction is initiated:
- We will send you a deal sheet with all relevant details.
- You will need to transfer the units from your demat account to us. Our team will explain to you the steps for the same.
- After we receive the units, you will get a confirmation, and we will transfer the funds to your account. - What is the Lock-In Period for Indian Potash Ltd Unlisted Shares?
- SEBI has reduced the lock-in period from 1 year to 6 months. The lock-in period for Indian Potash Unlisted shares is 6 months from the date of purchase. However, these are freely transferrable before listing in BSE/NSE.
- What is the Minimum Ticket Size for Investment in Indian Potash Ltd Unlisted Shares?
- You can buy Indian Potash Limited’s Unlisted Shares with a minimum investment of just 1 share.
- Is Buying Indian Potash Limited Unlisted Share Legal in India?
- Yes, it is legal to buy Indian Potash Limited and other unlisted shares in India. The activity is regulated and governed under the guidelines of the SEBI.
- Is Short-Term Capital Gain Tax Applicable on Indian Potash Unlisted Shares?
- Profits from selling unlisted shares of Indian Potash Ltd within two years are treated as Short-Term Capital Gains (STCG) and will be added to your total income for that financial year. These gains are taxed according to the income tax slab applicable to you, meaning the tax rate on STCG will vary based on your total income, including these profits, as per Indian Income Tax laws. Investors should consider these tax obligations when trading unlisted shares, as they can notably affect overall returns.
- How Much LTCG is Applicable on Indian Potash Unlisted Shares/Pre-IPO Shares?
- This term refers to the profits earned from holding Indian Potash Ltd Unlisted Shares or Pre-IPO Shares for more than two years. As of July 2024, Long-Term Capital Gains (LTCG) on unlisted shares are taxed at 12.5%, with the removal of the indexation benefit following the 2024 budget. Both high-net-worth individuals and retail investors need to understand LTCG to strategically plan their investment decisions.
- How Much Time Is Taken to Credit Indian Potash Unlisted Shares to a Demat Account?
- The day you transfer the money to our company account, the same day the boAt shares are transferred to your demat account.
- How to Trust InCred Unlisted Before Buying Indian Potash Limited Unlisted Shares From Its Platform?
- InCred Unlisted is a part of the InCred Group, offering an accessible investment platform with a dedicated team of experts available to guide you every step of the way. We offer highly competitive pricing with no hidden charges. You can start investing with as little as one share with InCred Unlisted.
- How is the Valuation of Indian Potash Ltd Unlisted Shares Calculated?
- The valuation of Indian Potash Ltd.’s unlisted shares rely mainly on fundamental and comparative approaches, while market demand and supply also influence the pricing. The pricing process involves a detailed assessment of the company's transaction history and financial estimates.
We set benchmark valuations by analysing the current market value and recent funding activities related to ORBIS Financial Corporation Ltd.’s unlisted shares. Furthermore, we perform comprehensive risk management and consider all pertinent factors to ensure well-informed decision-making. - How Much Return Can I Expect from the Indian Potash Ltd Unlisted Shares?
- The Prices are predicted to increase 200% by 2026 for Indian Potash Ltd unlisted shares.
- Are Indian Potash Limited Unlisted Shares in Demat Form?
- Yes, Indian Potash Limited's Unlisted Shares are transferred in dematerialised form. Once the payment is received, the shares will appear in your Demat account.
- Where will Indian Potash Limited's Unlisted Shares/ Pre-IPO shares be reflected?
- Once you purchase the shares on our platform, they will be transferred to the DEMAT account that you have shared with us on a T+7 basis.
There are multiple places where you can check your stock:
- You can download the CDSL Myeasi app or NSDL Speede app where you can track all your demat holdings.
- The stock will show up once you login to your account on the InCred Money app/ website.
- Is Indian Potash Ltd a Pre-IPO, Unlisted or Delisted Share?
- Indian Potash Ltd is a pre-IPO company that offers unlisted shares for trading.
- Can NRIs Buy Indian Potash Limited’s Unlisted Shares?
- Yes, NRIs can purchase unlisted shares of Orbis Financial Corporation Ltd; however, these shares are non-repatriable unless the NRI informs the RBI of their intention to buy repatriable shares. These shares must be acquired through an NRO Non-PIS account.
- Where Can I Sell Indian Potash Ltd Unlisted Shares?
- We will confirm the buying price for unlisted shares of Indian Potash Ltd with you. After that, we will provide you with a client master report, and you can transfer the shares you want to sell to our Demat account.
Once we receive the shares, we will ask for your bank details so we can process the payment. The amount will be transferred to the same account linked to your Demat account. If that is not feasible, you will need to provide a cancelled cheque for identity verification. Please be aware that third-party transfers are strictly prohibited and violate SEBI guidelines. Payments will be made through RTGS, NEFT, Cheque Transfers, or IMPS; cash deposits are not allowed. - Is there any lock in period for Indian Potash Ltd ?
- The lock-in period for Indian Potash Ltd Unlisted Shares differs based on the investor category, as per SEBI regulations:
●Venture Capital Funds and Foreign Venture Capital Investors (FVCIs): A lock-in period of 6 months from the date of acquisition of the shares.
●Alternative Investment Funds – Category II (AIF-II): No lock-in period is applicable.
●Other investors (including retail investors, high net-worth individuals (HNIs), and body corporates): A lock-in period of 6 months from the date of IPO listing of Indian Potash Ltd.
These norms were introduced by SEBI in August 2021, reducing the earlier lock-in requirement from one year to six months. The change was aimed at improving liquidity and encouraging investor participation in companies preparing for public listings. Since then, interest in pre-IPO investments has increased, with investors exploring opportunities to participate in companies ahead of their potential listing. - How much long term capital gains tax do I have to pay on Indian Potash Ltd ?
- Long-Term Capital Gains (LTCG) on Unlisted Shares in India arise when such shares are sold after being held for a period of more than two years. The key aspects of LTCG taxation on Indian Potash Ltd unlisted shares are outlined below:
1. Tax Rate
Earlier, LTCG on unlisted shares was taxed at 20% with indexation benefits. However, as per Union Budget 2024, the tax structure has been revised. For transfers made on or after 23rd July 2024, LTCG on unlisted shares is taxed at a flat rate of 12.5%.
2. Indexation Benefit
Previously, investors could avail indexation benefits to adjust the purchase price for inflation, thereby reducing taxable gains. This indexation benefit has been removed under Budget 2024 for unlisted shares transferred on or after 23rd July 2024
. 3. Importance for Investors
Understanding LTCG taxation is important for both retail investors and High Net-Worth Individuals (HNIs), as it directly impacts investment returns, exit planning, and overall tax strategy.
4. Calculation Method
For eligible transactions after 23rd July 2024, LTCG will be calculated at a flat tax rate of 12.5% on the capital gains, without indexation.
5. Applicability
LTCG tax is applicable when unlisted shares are held for more than 24 months before being sold.
6. Relevance
These tax provisions are particularly relevant for investors in the unlisted share market who are considering exiting their investments after a long-term holding period. - How do I start investing in Indian Potash Ltd unlisted shares through InCred Money?
- Buying Indian Potash LtdLtdUnlisted Shares on InCred Money is quick, seamless, and fully digital.
Step 1: Create Your Account
Sign up using your mobile number and email ID. Complete your KYC by submitting your PAN, Aadhaar, bank account, and demat account details. Once submitted, your KYC is reviewed and approved.
Step 2: Select & Buy Shares Browse and select Indian Potash LtdLtdfrom our Unlisted Shares list and place your order.
Step 3: Share Transfer Based on the settlement period for the shares noted on the platform, the purchased shares are transferred and reflected in both your InCred Money portfolio and your demat account - What documents are needed to invest in Indian Potash Ltd unlisted shares?
- To invest in Indian Potash LtdLtdUnlisted Shares on InCred Money, you need to complete your The lock-in period for Indian Potash Ltd Unlisted Shares differs based on the investor category, as per SEBI regulations:
●Venture Capital Funds and Foreign Venture Capital Investors (FVCIs): A lock-in period of 6 months from the date of acquisition of the shares.
●Alternative Investment Funds – Category II (AIF-II): No lock-in period is applicable.
●Other investors (including retail investors, high net-worth individuals (HNIs), and body corporates): A lock-in period of 6 months from the date of IPO listing of Indian Potash Ltd.
These norms were introduced by SEBI in August 2021, reducing the earlier lock-in requirement from one year to six months. The change was aimed at improving liquidity and encouraging investor participation in companies preparing for public listings. Since then, interest in pre-IPO investments has increased, with investors exploring opportunities to participate in companies ahead of their potential listing.KYC verification by submitting the following documents:
●PAN Card
●Aadhaar Card
●Bank account details
●Demat account details
Once your KYC is successfully completed and approved, you can start investing in unlisted shares on the platform.