Who are the promoters of Indofil Industries?

Indofil Industries Limited is part of the K.K. Modi Group, one of India's prominent business conglomerates. The Modi family, led by the K.K. Modi family, are the primary promoters of the company.

What are Indofil's key products?

Indofil's key product is Mancozeb, a widely used broad-spectrum fungicide for which it is among the largest global producers. Other products include Propineb (Antracol), Iprovalicarb, and various combination fungicide formulations. The company also produces industrial chemicals and specialty chemicals used in rubber, leather, and other industries.

Does Indofil Industries export its products?

Yes, Indofil Industries has a significant export presence, supplying agrochemicals to more than 70 countries worldwide. International markets including Southeast Asia, Africa, Latin America, and Europe are key export destinations for the company's fungicides and other crop protection products.

Is Indofil Industries planning an IPO?

As of available information up to mid-2025, Indofil Industries Limited remains an unlisted company. While there have been periodic market discussions about a potential IPO, no formal DRHP filing or confirmed IPO timeline has been publicly announced.

How do I buy Indofil Industries unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Indofil Industries?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Indofil Industries shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Indofil Industries Unlisted Share Price | Buy Indofil Industries Pre-IPO Shares — wisefolio

Investment Thesis

Indofil Industries Limited is one of India's most established agrochemical companies with a 60+ year legacy, strong global footprint in 70+ countries, and leadership in fungicide production as part of the K.K. Modi Group. While regulatory headwinds around certain fungicides in developed markets pose a challenge, growing agricultural demand in emerging economies and the company's vertically integrated manufacturing provide a solid long-term growth base.

Pros

Part of the K.K. Modi Group, a well-established Indian conglomerate with diversified business interests
Strong global presence with distribution network spanning multiple countries across Asia, Africa, Latin America and Europe
One of India's leading agrochemical companies specializing in fungicides, with Mancozeb being a flagship product with significant market share
Vertically integrated manufacturing with multiple plants and in-house R&D capabilities
Over 60 years of operational history since 1962, demonstrating long-term business sustainability

Cons

Unlisted status limits price discovery and liquidity for investors
Agrochemicals business is subject to monsoon dependency and agricultural cycles creating revenue volatility
Increasing regulatory scrutiny on pesticides and fungicides globally could impact product portfolio
Raw material price volatility impacts margins in the chemicals sector

Business Segments

Agrochemicals - Fungicides

Manufacturing and marketing of fungicides including Mancozeb and Propineb for crop protection globally

Agrochemicals - Insecticides & Herbicides

Production of insecticides and herbicides for the domestic and international markets

Specialty & Industrial Chemicals

Chemicals used in rubber, PVC, leather and other industrial applications

Revenue Model

Indofil earns revenue primarily through manufacturing and sale of crop protection chemicals (fungicides, insecticides, herbicides) to domestic agricultural markets and through exports to 70+ countries. Revenue is driven by seasonal agricultural demand, crop cycles, and global agrochemical pricing.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds8

Growth Plans

Expansion of product portfolio into biological and organic crop protection segments

Growing agrochemical demand in Africa and Southeast Asia as food security becomes a priority

New export market registrations for existing fungicide and insecticide formulations

Industry Tailwinds

Expansion of product portfolio into biological and organic crop protection segments

Recent Developments

CRISIL upgrades Indofil to AA-/Stable on Rs.2,128 Cr facilities

CRISIL Ratings upgraded Indofil Industries Limited from CRISIL A+/Positive to CRISIL AA-/Stable in January 2024, reflecting the company's established market position in fungicides, revenue growing at 12% CAGR, healthy PAT margins of 7.93%, and strong balance sheet with 0.19x gearing.

Jan 2024

Revenue reaches Rs.3,120 Cr with 1% CAGR and 18% EBITDA CAGR

Indofil reported revenue of Rs.3,120 crore in FY2024. While revenue CAGR was modest at 1% (reflecting global agrochemical price corrections), EBITDA CAGR of 18% indicates significant margin improvement and operational efficiency gains.

FY2024

Comparable Companies

CompanyTypeTickerMkt Cap

UPL LimitedListedUPL~20,000 Cr

Bayer CropScience IndiaListedBAYERCROP~20,000 Cr

Rallis IndiaListedRALLIS~3,500 Cr

UPL LimitedListed

UPL · ~20,000 Cr

Group Structure (12 entities)

EntityExtentReason

Indofil Industries LimitedFullParent company

Indofil Industries (Netherlands) B.V.FullWholly owned subsidiary

Indofil Bangladesh Industries Pvt. Ltd.FullWholly owned subsidiary

Indofil Costa Rica S.A.FullWholly owned subsidiary

Indofil Industries DO Brasil Ltda.FullStep Down subsidiary

Indofil Phillipines IncFullStep Down subsidiary

PT Indofil Industries IndonesiaFullStep Down subsidiary

Frequently Asked Questions

Indofil Industries Limited is one of India's leading agrochemical companies, specializing in crop protection products with a focus on fungicides. Its flagship product is Mancozeb, a broad-spectrum fungicide used globally. The company manufactures and markets a wide range of agrochemicals including fungicides, insecticides, herbicides, and specialty chemicals. It also has a presence in industrial chemicals. Indofil exports to over 70 countries across Asia, Africa, Europe, and Latin America.

About Indofil Industries

Indofil Industries Limited is one of India's largest and most diversified agrochemicals companies, with a particular strength in fungicide formulations. Incorporated in 1993 under CIN U24110MH1993PLC070713, the company is headquartered in Mumbai and is promoted by the Modi family (Samir Kumaar Modi as MD and Charu Modi on the board). Indofil is a global player, exporting to over 100 countries with a revenue of Rs.3,120 crore for FY2024. The company's flagship fungicide product, Indofil M-45 (mancozeb-based), is one of India's most widely-used crop protection fungicides for controlling fungal diseases in a range of crops including potatoes, tomatoes, grapes, rice, and pulses. Beyond fungicides, Indofil has a diversified portfolio spanning herbicides, insecticides, specialty chemicals, and industrial chemicals, making it a broad-based crop protection and specialty chemicals company. Indofil holds an impressive CRISIL AA-/Stable rating (upgraded from CRISIL A+/Positive in January 2024) on bank facilities totalling Rs.2,128 crore — a testament to its financial strength, established market position, and geographical diversification. The rating rationale highlights revenue growing at 12% CAGR over four years to Rs.3,041 crore in FY2023, PAT margins of approximately 7.93%, interest coverage of 10.27x, and a lean gearing ratio of 0.19x as of March 2023. Networth stood at Rs.2,904 crore. The company maintains an extensive distribution network of 4,645 domestic distributors and 550 global distributors spanning 100+ countries, giving it unmatched reach in India's fragmented agrochemicals market. With India's agrochemical industry estimated at $5 billion and growing at 8-10% CAGR — driven by rising crop disease incidence, farmer adoption of modern inputs, and food security priorities — Indofil is well-positioned for sustained growth. The company is also considering an IPO to further strengthen its capital base.

Key Milestones

Founded in 1962 as part of the K.K. Modi Group

Common questions about unlisted shares

How do I buy Indofil Industries unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

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