---
title: "Industrial Progressive (India) Ltd (526021) — Share Price, Financials & Analysis"
symbol: "526021"
company: "Industrial Progressive (India) Ltd"
canonical: "https://tapetide.com/stocks/526021"
bse_code: "526021"
generated_at: "2026-10-13T11:01:15.744Z"
---

# Industrial Progressive (India) Ltd (526021)

Canonical page: https://tapetide.com/stocks/526021

## Company

- **BSE Code:** 526021
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No

## About

Industrial Progressive (India) Limited, incorporated in India, Listed on the Bombay Stock exchange Limited, the company is engaged in Wholesaler of Milk & Dairy Products, Dairy Whitener, Demineralised Whey Powder, Edible Casein & Edible Milk Products

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of 6.04% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | 17% | 72% |
| revenue growth | 5% | 18% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2013 | Jun 2013 | Sep 2013 | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0 | 0 | 1 | 1 | 0 | 0 | 1 | 0 | 4 | 0 | 0 | 0 |
| Operating Profit | 0 | 0 | -1 | -1 | 0 | 0 | -1 | 0 | -4 | 0 | 0 | 0 |
| Other Income | -2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 39 | 10 | 10 | 10 |
| Profit before tax | -3 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -40 | -10 | -10 | -10 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -3 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -40 | -10 | -10 | -10 |
| EPS in Rs | -0.23 | -0.05 | -0.09 | -0.1 | -0.05 | -0.07 | -0.07 | -0.07 | -3.29 | -0.84 | -0.84 | -0.83 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 |
| --- | --- | --- | --- | --- | --- |
| Sales | 13 | 125 | 141 | 195 | 205 |
| Expenses | 11 | 119 | 137 | 190 | 197 |
| Operating Profit | 1 | 6 | 3 | 6 | 9 |
| OPM % | 11 | 4.8 | 2.4 | 2.9 | 4.3 |
| Other Income | 0 | -4 | -2 | 1 | 0 |
| Interest | 1 | 0 | 0 | 4 | 5 |
| Depreciation | 1 | 1 | 1 | 1 | 2 |
| Profit before tax | 0 | 0 | 0 | 1 | 2 |
| Tax % | 8 | 34 | 35 | 39 | 40 |
| Net Profit | 0 | 0 | 0 | 1 | 1 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 5 | 5 | 5 | 5 | 5 |
| Reserves | 3 | 5 | 5 | 6 | 15 |
| Borrowings | 11 | 24 | 27 | 36 | 43 |
| Other Liabilities | 6 | 4 | 12 | 20 | 18 |
| Total Liabilities | 25 | 39 | 48 | 67 | 81 |
| Fixed Assets | 17 | 14 | 14 | 26 | 24 |
| CWIP | 0 | 0 | 0 | 1 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 9 | 25 | 35 | 41 | 54 |
| Total Assets | 25 | 39 | 48 | 67 | 81 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | — | — | 0 | 0 |
| Cash from Investing Activity | — | — | — | 0 | 0 |
| Cash from Financing Activity | — | — | — | 0 | 0 |
| Net Cash Flow | — | — | — | 0 | 0 |
| Free Cash Flow | — | — | — | 0 | 0 |
| CFO/OP | — | — | — | 0 | 0 |

### Ratios

| Item | Mar 2006 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | 72 | 26 | 49 | 20 | 37 |
| Inventory Days | 185 | 51 | 39 | 54 | 55 |
| Days Payable | 157 | 2 | 24 | 29 | 17 |
| Cash Conversion Cycle | 100 | 75 | 64 | 45 | 75 |
| Working Capital Days | 117 | 65 | 62 | 42 | 66 |
| ROCE % | — | — | 1 | 12 | 12 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 5 / 7 / 7

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 41.19 | Buy |
| EMA (10) | 41.77 | Sell |
| SMA (20) | 40.98 | Buy |
| EMA (20) | 41.44 | Buy |
| SMA (50) | 41.85 | Sell |
| EMA (50) | 43.26 | Sell |
| SMA (100) | 48.99 | Sell |
| EMA (100) | 47.85 | Sell |
| SMA (200) | 55.36 | Sell |
| EMA (200) | 56.9 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 50.39 | Neutral |
| MACD (12,26,9) | 0.06 | Buy |
| Stochastic (14,3,3) | 51.13 | Neutral |
| ADX (14) | 18.19 | Neutral |
| Williams %R (14) | -60.14 | Neutral |
| ATR (14) | 2.99 | High Volatility |
| ROC (12) | 6.94 | Buy |
| Stoch RSI (14) | 50.8 | Neutral |
| UO (7,14,28) | 50.26 | Neutral |

## Filings & Documents

### Annual Reports

| Date | Document |
| --- | --- |
| 2015 | [Financial Year 2015](https://www.bseindia.com/bseplus/AnnualReport//5091300315.pdf) |
| 2014 | [Financial Year 2014](https://www.bseindia.com/bseplus/AnnualReport//5091300314.pdf) |
| 2013 | [Financial Year 2013](https://www.bseindia.com/bseplus/AnnualReport//5091300313.pdf) |
| 2012 | [Financial Year 2012](https://www.bseindia.com/bseplus/AnnualReport//5091300312.pdf) |
| 2011 | [Financial Year 2011](https://www.bseindia.com/bseplus/AnnualReport//5091300311.pdf) |
| 2010 | [Financial Year 2010](https://www.bseindia.com/bseplus/AnnualReport//5091300310.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2019-11-25 | Credit rating update — CARE Ratings |
| 2018-08-08 | Credit rating update — CARE Ratings |
| 2017-03-23 | Credit rating update — CARE Ratings |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:01:15.744Z.