India Gelatine & Chemicals

What India Gelatine & Chemicals does

India Gelatine & Chemicals Ltd. (BSE: INDGELA) is a publicly listed, Mumbai-headquartered gelatine and ossein manufacturer operating from a single state-of-the-art production facility in Vapi, Gujarat. The company runs a vertically integrated process that begins with crushed-bone-derived ossein (its initial product, exported to Japan from 1975 under technical collaboration with M/S Konica Gelatin Corporation of Japan) and extends to finished gelatine, which it has produced at international-standard quality since 1997. Its portfolio comprises two core products—ossein and gelatine—both certified fit for halal consumption and compliant with the highest international standards, enabling exports into pharmaceutical, food-processing, and industrial manufacturers across the USA, EU, Japan, Korea, the Middle East, and Indonesia.

The business model is a B2B direct-sales motion: gelatine and ossein are sold one-time via direct export relationships to enterprise customers in regulated end-markets, with no publicly disclosed pricing or licensing structure. Customer targeting is horizontal across three segments—pharmaceutical (primary), food processing, and industrial/manufacturing—with the value proposition centered on international standards compliance, halal certification, and quality control through vertical integration. The company has 101–250 employees, reports annual sales of Rs 169.81 crore (FY2026), and supports its brand through CAPEXIL (Ministry of Commerce) leading-exporter recognition and Gujarat government acknowledgment for pollution-control best practices rather than through active digital marketing.

FY2026 financials show a 14.47% YoY revenue decline, offset by a 44.34% YoY increase in net profit to Rs 25.10 crore, and a sharper 26.67% YoY Q4 revenue decline, indicating an accelerating top-line contraction alongside margin discipline. The company has no subsidiaries, no disclosed M&A activity, no recent funding rounds, and no parent entity, operating as an independently run public specialty manufacturer with promoter roots dating to 1973.

Name

India Gelatine & Chemicals

Legal name

India Gelatine & Chemicals Ltd.

Website

https://indiagelatine.com

Company type

Public

Founded year

1973

Operating status

Operating

Headcount range

101–250 employees

Short description

India Gelatine & Chemicals Ltd. is a publicly listed, Vapi-Gujarat-based manufacturer of halal-certified, internationally compliant ossein and gelatine, selling via direct B2B exports to pharmaceutical, food-processing, and industrial customers across the USA, EU, Japan, Korea, the Middle East, and Indonesia.

Ownership category

akta.pro rank

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Gelatine product sales: Manufacturing and sale of gelatine and related products to domestic and international customers. Revenue is generated through product sales with annual sales of Rs 169.81 crore (FY2026).
2. Ossein export: Export of ossein (raw material for gelatine) to international markets, historically exported to Japan as the company's initial product line

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

IGCL manufactures and supplies gelatine and ossein (the raw material for gelatine derived from crushed bones) from its factory in Vapi, Gujarat. The company operates a vertically integrated production chain, beginning with ossein production developed through technical collaboration with Konica Gelatin Corporation of Japan in 1975, and expanded into finished gelatine production compliant to the highest international standards in 1997. Its gelatine is halal-certified and exported to pharmaceutical, food processing, and industrial customers across USA, EU, Japan, Korea, the Middle East, and Indonesia.

Product overview

India Gelatine & Chemicals Ltd (IGCL) operates as a specialized gelatine manufacturer with a vertically integrated production system. The company's portfolio consists of two core products: ossein (the raw material derived from crushed bones) and finished gelatine (produced from ossein since 1997). Ossein serves as the foundational input for gelatine production, reflecting an integrated manufacturing approach where the company controls its raw material supply chain. All gelatine products meet the highest international standards and are certified for halal consumption, enabling exports to regulated markets including USA, EU, Japan, Korea, Middle East, and Indonesia.

Differentiator

Problem solved

Functional benefit

Products and services

• Ossein Raw material for gelatine production, sourced from crushed bones. Produced and exported to Japan beginning in 1975 under technical collaboration with Konica Gelatin Corporation of Japan.
• Gelatine High-purity gelatine produced from ossein since 1997, compliant with the highest international standards. Certified for halal consumption and suitable for export to pharmaceutical, food, and industrial customers in USA, EU, Japan, Korea, Middle Eastern countries, and Indonesia.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Konica Gelatin Corporation of JapancoreTechnology or Integration · 1 January 1975Technical collaboration established in 1975 for ossein production from crushed bones and export to Japan. This partnership was fundamental to IGCL's early development and provided the technical expertise that enabled the company to eventually produce gelatine compliant to highest international standards starting in 1997.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Darling Ingredients: Global rendering and specialty ingredients company producing gelatine and collagen peptides alongside a much broader animal by-product portfolio. Comparable as a large-scale gelatine producer with international reach, though IGCL is far more specialized and far smaller.
• Capsugel (Lonza): Major capsule manufacturer and a large buyer of pharmaceutical-grade gelatine. Comparable as a participant in the gelatine pharmaceutical value chain and a potential customer for IGCL's pharma-grade output.

Direct peers

• Juncà Gelatines: Spanish gelatine manufacturer supplying pharmaceutical, food, and technical applications globally. Comparable mid-tier European gelatine specialist competing with IGCL in regulated international markets.
• PB Leiner: Global gelatine and collagen producer (formerly part of Tessenderlo Group) serving food, pharma, and nutrition customers. Comparable product range and end-market focus, with larger global scale.
• Rousselot (Peabody Ingredients): Belgian-owned (Peabody Ingredients / Darling Ingredients) global gelatine and collagen peptides producer serving pharma, food, and nutrition customers. Directly competes with IGCL in pharmaceutical- and food-grade gelatine categories worldwide.
• GELITA: German-headquartered, one of the world's largest manufacturers of gelatine and collagen proteins for pharmaceutical, food, and technical applications. Closely comparable product portfolio, customer base, and end-markets, though GELITA operates at substantially larger global scale.
• Nitta Gelatin: Japanese gelatine and collagen manufacturer with a long history of technical collaboration in the gelatine industry; this is the same partner (Konica Gelatin Corporation) from whom IGCL originally obtained its process technology. Closely comparable in product mix and end-market focus.
• Reinert Gruppe: German gelatine and protein manufacturer serving food, pharma, and pet-food customers. Comparable in vertical integration (raw material to finished gelatine) and B2B export orientation.
• Weishardt: French gelatine producer focused on pharmaceutical and food applications with strong European footprint. Directly comparable in product positioning (high-quality pharma/food-grade gelatine) and customer base.
• Gelnex: Brazilian gelatine and collagen producer serving global pharmaceutical and food customers. Comparable as a geographically-rooted gelatine specialist exporting to international markets, with similar scale and customer profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about India Gelatine & Chemicals