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EID Parry India Ltd.
NSE: EIDPARRYBasic MaterialsAgricultural Inputs
- Last close
- ₹627.50
- Day change
- −₹19.90 (−3.07%)vs
- Market cap
- ₹12,353 crIndian rupees
- Research updated
- 1 report
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About EID Parry India
EID Parry India Ltd., part of the Murugappa Group, is a prominent agro-industrial company in India, with a strong focus on sugar production. Founded in 1788, EID Parry holds a significant position in the sugar industry, being one of the largest producers in the country. Beyond sugar, the company is also involved in the manufacture and sale of bio-products, including nutraceuticals and biopesticides, showcasing its commitment to expanding within the agricultural sector. The company's operations extend into integrated sugar complexes, which includes sugar manufacturing, distillery for the production of alcohol, and co-generation of power from bagasse, a by-product of sugarcane. This integrated approach not only maximizes resource utilization but also emphasizes sustainability. EID Parry's ventures into the bio-products business underline its forward-looking approach, targeting a diverse range of applications from health supplements to environmentally friendly agricultural inputs. EID Parry's significance in the market is strengthened by its deep-rooted history and innovative strategies that help it maintain leadership in the agro-industry, contributing to the socio-economic progress of rural India through extensive agricultural engagements and farmer partnerships.
- Sector
- Basic Materials
- Industry
- Agricultural Inputs
- Listing
- NSE: EIDPARRY
- Chief executive
- Mr. Muthiah Murugappan
- Employees
- 2,100
- Headquarters
- Chennai, India
- ISIN
- INE126A01031
- Website
- eidparry.com
Public research · Report of
Business model & financial foundation
EID Parry (NSE: EIDPARRY), Sugar, biofuel, nutraceuticals and farm-input holding company: revenue of ₹38,534 crore in FY26 (+21.9% on FY25), an EBITDA margin of 9.0% and net profit of ₹569.5 crore.
- Revenue, FY26 (₹ crore)
- 38,534
- consolidated
- Revenue growth, FY26
- +21.9%
- on FY25
- EBITDA margin, FY26
- 9.0%
- EBITDA (Operating EBITDA excluding other income and equity-accounted result) / revenue
- Net profit, FY26 (₹ crore)
- 569.5
- to owners
- Return on equity, FY26
- 4.1%
- on average equity
- Market capitalisation (₹ crore)
- 12,511
- at the close of 17 Oct 2026
Company profile
Murugappa Group agri-business with direct sugar, ethanol, cogeneration, nutraceutical and consumer-products operations and a controlling stake in listed Coromandel International. Statutory consolidated results include Coromandel and its farm-input subsidiaries; the listed parent is not economically a pure sugar company. FY26 includes refinery closure costs, plant impairments and a new agrochemical acquisition through Coromandel. Peer selection is analyst judgement for operating comparisons; Coromandel is a controlled subsidiary, not an independent peer.
| Item | Value |
|---|---|
| Legal name | E.I.D.-Parry (India) Limited |
| Exchange and ticker | NSE: EIDPARRY; BSE: 500125 |
| ISIN | INE126A01031 |
| CIN | L24211TN1975PLC006989 |
| Sector | Diversified agri-business |
| Industry | Sugar, biofuel, nutraceuticals and farm-input holding company |
| Headquarters | Chennai, India |
| Fiscal year end | March |
| Reporting basis and unit | consolidated, in ₹ crore |
| Auditor | Price Waterhouse Chartered Accountants LLP (since 2022-08-09) |
| Market capitalisation | ₹12,511 crore (17 Oct 2026) |
| Shares outstanding | 17.79 crore shares (FY26) |
| Price | ₹694.2 (close, 17 Oct 2026) |
| 52-week range | ₹672.3 - ₹1,118 (to 17 Oct 2026) |
| Website | https://eidparry.com/ |
Corporate structure and shareholding
| Entity | Holding | Business |
|---|---|---|
| Coromandel International Limited | 55.58% | Listed farm-input subsidiary: fertilisers, crop protection, specialty nutrients, mining and agri-technology; direct stake as at 2026-03-31. |
| Parry Sugars Refinery India Private Limited | 100% | Raw-sugar refinery; operations ceased at close of 2026-03-31; remains subsidiary on realisable accounting basis. |
| US Nutraceuticals Inc. | 100% | Valensa International, US nutraceutical ingredients and formulations. |
| Labelle Botanics LLC | 100% | Step-down US nutraceutical entity; group holding as reported in Annexure A. |
| Parry Infrastructure Company Private Limited | 100% | Infrastructure/property subsidiary. |
| Parry International FZCO | 100% | PSRIPL step-down Dubai sugar-trading subsidiary; voluntary liquidation. |
| Coromandel Chemicals Limited | 55.58% | Coromandel step-down chemicals and investment entity; effective EID holding. |
| Coromandel Technology Limited | 55.58% | Coromandel step-down agri-technology investment entity; effective EID holding. |
| Dhaksha Unmanned Systems Private Limited | 32.24% | Controlled step-down drone business through Coromandel; effective EID economic holding, not direct voting stake. |
| Baobob Mining and Chemicals Corporation S.A. | 39.75% | Controlled Senegal phosphate-mining step-down; effective EID holding. Coromandel holding is 71.51% (Note 48). |
| NACL Industries Limited | 29.84% | Controlled agrochemical step-down acquired 2025-08-08; effective EID holding. Coromandel direct stake 53.73% after rights issue. |
| Dare Ventures Limited | 55.58% | Coromandel venture-investment step-down; effective EID holding. |
Murugappa Group member. Ambadi Investments is investing party (38.26% of EID at 2026-03-31), not established as a legal parent. Holding percentages are report Annexure A effective group interests. Coromandel shares held: 163,955,580 (p261). Associates/JVs and exited entities detailed in research notes.
| Shareholding (% of shares) | Q3FY26 | Q4FY26 | Q1FY27 | Q2FY27 |
|---|---|---|---|---|
| Promoter | 41.44% | 41.44% | 41.28% | 41.28% |
| Promoter holding pledged | 0.00% | 0.00% | 0.00% | 0.00% |
| Foreign institutions | 12.61% | 12.21% | 11.21% | 9.63% |
| Domestic institutions | 16.28% | 16.75% | 16.67% | 20.54% |
| of which mutual funds | 15.43% | 16.06% | 16.26% | 19.83% |
| Retail | 14.21% | 14.20% | 15.42% | 14.26% |
| Other | 15.46% | 15.40% | 15.42% | 14.29% |
The promoter holding pledged is a share of the promoter's own holding.
Business model
EID Parry is a listed parent with a majority Coromandel farm-input stake plus sugar, power, distillery, nutraceutical and consumer-products businesses. Consolidated revenue incorporates Coromandel in full while owners PAT excludes noncontrolling interests. Parent borrowings and closure obligations are deducted separately. Six mills and the standalone distillery including leased Ramdurg have582KLPD alcohol capacity,40800TCD cane capacity and140MW power. Refinery production ceased31March2026 but the subsidiary remains consolidated on realisable basis.
| Segment | revenue, FY26 (₹ crore) | Share | segment result, FY26 (₹ crore) | Share | unallocated income net, FY26 (₹ crore) | Share |
|---|---|---|---|---|---|---|
| Nutrient and allied business | 27,727 | 72.0% | 2,464 | 85.6% | ||
| Crop protection | 3,968 | 10.3% | 510.8 | 17.7% | ||
| Sugar | 5,366 | 13.9% | 54.1 | 1.9% | ||
| Co-generation | 121.7 | 0.3% | -46.8 | -1.6% | ||
| Distillery | 1,151 | 3.0% | -13.8 | -0.5% | ||
| Nutraceuticals | 199.6 | 0.5% | 18.7 | 0.7% | ||
| Consumer products | 607.2 | 1.6% | -108.5 | -3.8% | ||
| Intersegment elimination and PBT reconciliation adjustments | -606.6 | -1.6% | 87.0 | 100.0% |
Segments as the company reports them (consolidated); each share is of the segments' sum.
| Peer | Why the dossier compares them |
|---|---|
| Balrampur Chini Mills (BALRAMCHIN) | Analyst-selected integrated sugar/ethanol/cogeneration operating benchmark; not a pure holding-company comparable. |
| Triveni Engineering & Industries (TRIVENI) | Analyst-selected sugar/ethanol and diversified engineering operator; relevant cyclical and portfolio comparison. |
| Dalmia Bharat Sugar and Industries (DALMIASUG) | Analyst-selected integrated sugar, distillery and renewable-power operating peer. |
| Dhampur Sugar Mills (DHAMPURSUG) | Analyst-selected sugar/distillery operating peer exposed to cane procurement and ethanol policy. |
| Dwarikesh Sugar Industries (DWARKESH) | Analyst-selected sugar/ethanol/cogeneration benchmark for operating-cycle and policy risk. |
| Bannari Amman Sugars (BANARISUG) | Analyst-selected South Indian sugar operator; geographically relevant cane-availability comparison. |
| Shree Renuka Sugars (RENUKA) | Analyst-selected sugar/refining/ethanol operator; refinery capital intensity and leverage comparator, not matched holding economics. |
Financial databook
| Profit and loss (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue from operations including government subsidy | 16,653 | 20,681 | 29,413 | 31,609 | 38,534 |
| Cost of revenue (vendor classification) * | 17,838 | 28,206 | 22,892 | 24,512 | 29,845 |
| Other operating costs (vendor classification) * | 2,436 | 2,934 | 2,909 | 3,309 | 3,866 |
| EBITDA (vendor classification) * | 2,546 | 3,157 | 2,808 | 2,832 | 3,501 |
| Operating EBIT excluding other income and exceptional items | 2,262 | 2,839 | 2,195 | 2,175 | 2,687 |
| Finance costs including lease interest | 133.3 | 275.1 | 295.4 | 372.4 | 454.1 |
| Profit before tax after equity-accounted result and exceptional items | 2,129 | 2,564 | 2,175 | 2,455 | 2,103 |
| Current and deferred tax expense | 555.4 | 736.5 | 557.7 | 682.1 | 722.9 |
| Profit after tax including non-controlling interests | 1,574 | 1,828 | 1,618 | 1,773 | 1,380 |
| Diluted EPS as reported (₹) | 51.04 | 53.25 | 50.61 | 49.33 | 31.91 |
| Materials, traded purchases and inventory movement | 22,647 | 24,279 | 29,578 | ||
| Employee benefits expense | 932.1 | 1,035 | 1,309 | ||
| Other expenses | 3,219 | 3,607 | 4,198 | ||
| Operating EBITDA excluding other income and equity-accounted result | 2,616 | 2,687 | 3,450 | ||
| Other income including gains and losses | 303.8 | 359.2 | 349.4 | ||
| Depreciation and amortisation expense | 420.8 | 512.4 | 763.1 | ||
| Exceptional items signed gain positive loss negative | 0.00 | 346.8 | -478.4 | ||
| Share of associates and joint ventures net signed result | -27.9 | -53.7 | -0.14 | ||
| PAT attributable to non-controlling interests | 717.9 | 894.2 | 810.9 | ||
| PAT attributable to owners of the company | 899.7 | 878.4 | 569.5 |
| Balance sheet (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Total equity including non-controlling interests | 8,100 | 9,539 | 11,212 | 12,932 | 14,920 |
| Current and noncurrent borrowings excluding leases and acceptances | 1,259 | 1,618 | 1,264 | 2,121 | 2,854 |
| Cash and cash equivalents | 778.2 | 1,440 | 1,176 | 403.9 | 1,222 |
| Trade receivables excluding government subsidy receivable | 573.5 | 812.0 | 1,835 | 1,757 | 2,361 |
| Inventories | 5,363 | 6,195 | 6,948 | 6,686 | 8,661 |
| Trade payables on period-specific presented basis | 5,001 | 6,456 | 7,484 | 4,425 | 4,415 |
| Net property plant and equipment excluding ROU and intangibles | 63.5 | 62.8 | 4,049 | 4,494 | 5,788 |
| Capital work in progress excluding intangible development | 180.0 | 569.1 | 490.3 | 378.3 | 304.4 |
| Total assets | 15,943 | 18,778 | 21,493 | 24,381 | 29,254 |
| Equity attributable to owners | 7,058 | 7,936 | 8,766 | ||
| Issuer net debt including leases and interest accrual adjustment | 572.3 | 2,303 | 2,292 | ||
| Issuer capital-management net debt borrowings less cash | 88.2 | 1,717 | 1,633 | ||
| Current other noncurrent and equity-accounted investments | 1,275 | 1,453 | 2,477 | ||
| Current other investments | 646.0 | 1,063 | 2,030 | ||
| Bank balances other than cash equivalents | 1,855 | 3,287 | 86.9 | ||
| Interest-bearing trade-credit acceptances separately presented | n.r. | 3,062 | 5,022 | ||
| Current and noncurrent lease liabilities | 475.8 | 583.1 | 673.9 | ||
| Liquidity-adjusted net debt not disclosed on requested basis | n.d. | n.d. | n.d. |
| Cash flow (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Net cash from operating activities after tax | 1,283 | -305.6 | 1,974 | 1,936 | 1,542 |
| Free cash flow (vendor definition) * | 1,829 | -501.4 | 997.6 | 890.0 | -75.8 |
| Group cash dividends paid negative outflow not parent declared dividend | -348.7 | -246.5 | -228.3 | -154.3 | -231.0 |
| Cash purchase PPE intangibles and investment property negative outflow | -433.8 | -839.0 | -974.8 | -1,046 | -1,617 |
| Other reported lines (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Issued equity shares at year end not weighted EPS denominator | 17.72 | 17.75 | 17.75 | 17.78 | 17.79 |
| Issuer press-release EBITDA rounded excludes exceptional includes other income | 2,993 | 3,799 | |||
| Weighted average diluted shares used for EPS | 17.76 | 17.77 | 17.80 |
| Quarterly profit and loss (₹ crore) | Q2FY25 | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations including subsidy | 9,330 | 8,720 | 6,811 | 8,720 | 11,624 | 10,312 | 7,878 | 9,018 |
| Cost of revenue (vendor classification) * | 7,196 | 6,844 | 5,209 | 6,681 | 9,062 | 8,019 | 5,815 | 6,878 |
| Other operating costs (vendor classification) * | 911.9 | 900.0 | -975.6 | 944.7 | 1,035 | 1,111 | 1,118 | 1,014 |
| EBITDA (vendor classification) * | 1,028 | 810.8 | 937.5 | 895.0 | 1,349 | 894.6 | 589.8 | 780.6 |
| Operating EBIT excluding other income and exceptional items | 848.5 | 571.6 | 388.3 | 629.6 | 1,040 | 631.5 | 385.8 | 507.7 |
| Finance cost including lease interest | 93.9 | 98.6 | 96.4 | 103.7 | 128.6 | 103.1 | 118.6 | 114.7 |
| Profit before tax after equity-accounted and exceptional items | 810.9 | 581.7 | 734.5 | 615.4 | 1,062 | 587.9 | -162.3 | 422.9 |
| Current and deferred tax expense | 219.3 | 166.1 | 195.1 | 151.0 | 296.2 | 150.9 | 124.8 | 111.4 |
| PAT including non-controlling interests | 591.7 | 415.6 | 539.4 | 464.5 | 766.2 | 437.0 | -287.2 | 311.5 |
| Diluted EPS as reported not additively derived (₹) | 17.16 | 10.93 | 16.11 | 13.81 | 23.81 | 13.02 | -18.74 | 7.95 |
| Materials traded purchases and inventory movement | 7,196 | 6,844 | 4,976 | 6,681 | 9,062 | 8,019 | 5,815 | 6,878 |
| Employee benefits expense | 248.3 | 270.9 | 265.8 | 292.2 | 329.2 | 350.0 | 337.3 | 374.8 |
| Other expenses | 914.4 | 903.4 | 1,039 | 940.7 | 1,035 | 1,108 | 1,114 | 1,014 |
| Operating EBITDA excluding other income and equity-accounted result | 971.7 | 702.1 | 530.0 | 805.4 | 1,198 | 835.1 | 611.5 | 750.7 |
| Other income including gains and losses | 69.4 | 117.2 | 112.4 | 89.7 | 151.3 | 59.5 | 48.8 | 29.9 |
| Depreciation and amortisation expense | 123.3 | 130.5 | 141.7 | 175.9 | 158.0 | 203.5 | 225.7 | 243.1 |
| Signed exceptional gain positive loss negative | 0.00 | 0.00 | 346.8 | 0.00 | 0.00 | 0.00 | -478.4 | 0.00 |
| Signed share of associates and joint ventures net result | -13.0 | -8.46 | -16.6 | -0.10 | -0.02 | 0.00 | -0.02 | 0.00 |
| PAT attributable to non-controlling interests | 286.0 | 220.7 | 252.9 | 218.2 | 341.8 | 204.9 | 46.1 | 169.9 |
| PAT attributable to owners not total consolidated PAT | 305.6 | 194.9 | 286.5 | 246.3 | 424.4 | 232.2 | -333.3 | 141.6 |
Consolidated, restated. Lines marked * are the market-data provider's figures; the rest are extracted from the company's filings or derived from them. n.d. not disclosed, n.r. not retrieved, n.a. not applicable.
Metrics dashboard
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue growth | 10.3% | 24.2% | 42.2% | 7.5% | 21.9% |
| EBITDA margin | 8.9% | 8.5% | 9.0% | ||
| Net margin | 3.1% | 2.8% | 1.5% | ||
| Return on equity | 8.7% | 7.3% | 4.1% | ||
| Return on capital employed | 26.0% | 27.7% | 18.6% | 15.8% | 16.4% |
| Return on assets | 4.5% | 3.8% | 2.1% | ||
| Borrowings less cash (₹ crore) | 481.2 | 178.3 | 88.2 | 1,717 | 1,633 |
| Borrowings less cash / EBITDA | 0.03x | 0.64x | 0.47x | ||
| Interest cover | 17.0x | 10.3x | 7.43x | 5.84x | 5.92x |
| Asset turnover | 1.14x | 1.19x | 1.46x | 1.38x | 1.44x |
| Receivable days | 13 | 14 | 23 | 20 | 22 |
| Inventory days (on revenue) | 118 | 109 | 86 | 77 | 82 |
| Payable days (on revenue) | 110 | 114 | 93 | 51 | 42 |
| Cash conversion | 2.19x | 2.20x | 2.71x | ||
| Capex intensity | 2.6% | 4.1% | 3.3% | 3.3% | 4.2% |
| Free cash flow (₹ crore) | 849.1 | -1,145 | 999.5 | 890.0 | -75.8 |
| Dividend payout | 25.4% | 17.6% | 40.6% | ||
| EPS, diluted (₹) | 51.04 | 53.25 | 50.61 | 49.33 | 31.91 |
| Book value per share (₹) | 457.0 | 537.5 | 631.6 | 727.4 | 838.8 |
Computed from the statements above:
- Revenue growth: revenue over the previous year's, less one.
- EBITDA margin: EBITDA (Operating EBITDA excluding other income and equity-accounted result) / revenue.
- Net margin: net profit to owners / revenue.
- Return on equity: net profit to owners / average equity.
- Return on capital employed: EBIT / average equity plus borrowings.
- Return on assets: net profit to owners / average total assets.
- Borrowings less cash (₹ crore): borrowings less cash and cash equivalents, with no investments netted; negative is cash beyond borrowings.
- Borrowings less cash / EBITDA: borrowings less cash / EBITDA (Operating EBITDA excluding other income and equity-accounted result).
- Interest cover: EBIT / finance cost.
- Asset turnover: revenue / average total assets.
- Receivable days: receivables / revenue x 365.
- Inventory days (on revenue): inventory / revenue x 365.
- Payable days (on revenue): payables / revenue x 365.
- Cash conversion: cash from operations / net profit to owners.
- Capex intensity: capital expenditure / revenue.
- Free cash flow (₹ crore): cash from operations less capital expenditure.
- Dividend payout: dividends paid / net profit to owners.
- EPS, diluted (₹): as reported (Diluted EPS as reported).
- Book value per share (₹): equity / shares outstanding.
Source: the company's filings and disclosures as extracted into Mool's company dossier (version 1, information to 17 Oct 2026); market data at the close of 17 Oct 2026. Every figure is read from the dossier's files or computed from them; the account of the business model is the analyst's, from the dossier's workings.
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What the full research on EID Parry India includes
Every piece of Mool’s research is built the same way: a researched evidence base, analyses that build on each other, a research model and a report with the call. This page shows the first analysis.
The report and Mool’s call
- The 12-month rating and target
- The 3-month view
- Mool's estimates beside the street's
- The claims the view rests on, and what would change it
The analyses, among them
- Business model & financial foundationOn this pageWhat the company does and how it makes money, its structure, five years of financials and the metrics that matter for it.
- Future earnings & financial modelForecasts built from the drivers that move the business, by scenario, beside the street's.
- Fundamental valuation & 12-month thesisWhat the business is worth on several methods, what the market already prices in and the 12-month thesis that follows.
The research model
The model behind the report: the company’s history, the drivers that move it, its forecasts by scenario and the valuation the 12-month target comes from.
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Report history
Reports on EID Parry India
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Prices are the last close on the NSE, 23 Oct 2026. Research from Mool’s report of 17 Oct 2026; page updated 26 Oct 2026.
Mool’s research is written by AI agents and published by Mool Capital Private Limited, a SEBI-registered Research Analyst, registration INH000012449, which is responsible for it. This page shows factual company information and an excerpt of that research; it carries no rating and is not investment advice for any individual. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Read the disclosures.