MarketFriction

AksharChem (India) Ltd

NSE AKSHARCHEM · BSE 524598 · Dyes And Pigments
₹379.10 -2.32%
NSE close2026-10-01
52 week range141.30 - 472.00
Market cap₹295 Cr.
P/E23.8
ESM Price band 5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales73758286799191978980106141
Expenses76708180738484918777100118
Operating Profit-3506666623523
OPM %-4.4%7%0.5%7%8%7%7%7%2.6%3.6%5%16%
Other Income000000-002000
Interest111111111222
Depreciation333344444444
Profit before tax-81-421211-1-3-116
Tax %1%57%50%28%26%22%-7%31%-3%50%-584%5%
Net Profit-80-611111-1-5515
EPS in Rs-9.460.41-7.491.431.291.481.730.88-1.71-5.756.0318.93
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales188248264323260246380335302346372416
Expenses155171223288234223349319301321355383
Operating Profit32784234262432152251733
OPM %17%31%16%11%10%10%8%4.6%0.5%7%4.6%8%
Other Income197511100022
Interest331111234578
Depreciation455677121314141717
Profit before tax26794333191718-0-166-410
Tax %36%33%28%32%18%28%11%88%20%18%-90%
Net Profit17533123161216-1-195-014
EPS in Rs22.7572.3737.2627.5419.1615.2419.81-1.17-23.255.94-0.5517.50
Dividend Payout %15%5%9%13%18%23%3%-43%-2%8%-91%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth7%9%4%17%
Compounded Profit Growth%%%185%
Stock Price CAGR-2%-2%9%43%
Return on Equity5%0%-2%-1%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital777888888888
Reserves6478133230249257271272270251256254
Borrowings243132012131550255267108
Other Liabilities513947614745627662708582
Total Liabilities146155219299316323356406365380415452
Fixed Assets55566586126128229231225235232287
CWIP2492631626161711458
Investments18225177211000000
Other Assets717294110138131120159122135139156
Total Assets146155219299316323356406365380415452
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity28134130-92649438-7352
Cash from Investing Activity-13-11-32-63-2-20-49-24-8-16-44-36
Cash from Financing Activity-15-2-5337-7118-3023934
Net Cash Flow0-03-0-4-01-100-00
Free Cash Flow23526-14-60-14-2-2029-23-9-34
CFO/OP124%66%80%102%1%116%211%27%255%-759%141%11%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days384420384342425139574361
Inventory Days5354102686510414811599131130119
Days Payable111961007049629780648810688
Cash Conversion Cycle-192223559839386751006792
Working Capital Days8283156851047562695518-4
ROCE %34%27%53%21%13%7%6%6%1%-4%3%0%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters62.70%62.70%62.70%62.70%62.70%62.70%62.70%62.70%62.70%62.70%62.70%62.70%
FIIs0.68%0.68%0.43%0.39%0.07%0.00%0.00%0.03%0.02%0.00%0.00%0.00%
DIIs0.06%0.06%0.06%0.06%0.06%0.06%0.06%0.06%0.06%0.06%0.06%0.06%
Public36.56%36.57%36.82%36.87%37.17%37.24%37.25%37.22%37.22%37.24%37.24%37.26%
No. of Shareholders15,50615,26715,11914,62913,74013,60213,42613,47513,13912,06011,84311,715

Fundamentals

Market Cap₹ 295 Cr.
Current Price₹ 377
Stock P/E23.8
Book Value₹ 326
ROCE0.19 %
ROE-0.81 %
Dividend Yield0.13 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)17%
Compounded Profit Growth (TTM)185%
Standalone figures.
Valuation
Market capRs 305 Cr
Enterprise valueRs 411 Cr
P/E (TTM)21.66x
Price to book1.16x
Price to sales0.73x
EV / EBITDA11.72x
EV / EBIT22.62x
EV / sales0.99x
Price to cash flow182.36x
Earnings yield4.62%
Dividend yield0.13%
P/E, 3-year average36.11x
P/B, 3-year average0.63x
P/E, 5-year average26.86x
P/B, 5-year average0.70x
Profitability
Operating margin (excl. other income)4.57%
Operating margin (incl. other income)5.08%
EBITDA margin8.43%
Pre-tax margin2.51%
Net profit margin3.38%
Net margin, latest quarter10.80%
ROE-0.17%
ROCE0.68%
ROA-0.10%
ROE, 3-year average-1.76%
ROCE, 3-year average0.09%
ROA, 3-year average-1.30%
ROE, 5-year average0.01%
ROCE, 5-year average1.52%
ROA, 5-year average0.00%
ROIC (approx.)0.49%
Tax rate90.09%
Other income / net worth0.72%
Growth
Sales growth (latest year)7.55%
Profit growth (latest year)-109.22%
Sales CAGR, 3 years3.63%
Sales CAGR, 5 years8.61%
Sales growth QoQ33.16%
Profit growth QoQ214.26%
Sales growth YoY (latest quarter)45.29%
Profit growth YoY (latest quarter)2042.25%
Per share
EPS (TTM)Rs 17.50
EPS (latest year)Rs -0.55
EPS (latest quarter)Rs 18.93
EPS, 3-year averageRs -5.95
EPS, 5-year averageRs 0.15
Book value per shareRs 325.57
Sales per shareRs 518.28
Cash flow per shareRs 2.08
Free cash flow per shareRs -42.32
Dividend per share (latest year)Rs 0.50
Dividend per share, 3-year averageRs 0.50
Dividend per share, 5-year averageRs 0.50
Dividends
Dividend payout, 3-year average8.39%
Dividend payout, 5-year average5.45%
Efficiency
Asset turnover0.82x
Fixed asset turnover1.30x
Inventory turnover4.33x
Inventory days84 days
Debtor days61 days
Debtors turnover5.97x
Creditor days88 days
Cash conversion cycle92 days
Working capital days-4 days
Leverage
Total debtRs 108 Cr
Cash and bankRs 2 Cr
Net debtRs 107 Cr
Debt to equity0.41x
Net debt / EBITDA3.04x
Interest coverage2.36x
Owners' fund to total sources57.91%
Debt to assets24.02%
Cash flow
Cash from Operating Activity (latest year)Rs 2 Cr
Cash from Investing Activity (latest year)Rs -36 Cr
Cash from Financing Activity (latest year)Rs 34 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -34 Cr
FCFE (approx.: FCF + change in debt)Rs 8 Cr
Cash from ops / profit, 5 years72.00x
Sales to cash flow223.01x
Statement figures
Net sales (TTM)Rs 416 Cr
Net sales (latest year)Rs 372 Cr
Sales (latest quarter)Rs 141 Cr
Operating profit excl. other income (latest year)Rs 17 Cr
Operating profit (latest quarter)Rs 23 Cr
Other income (TTM)Rs 2 Cr
EBITDA (TTM)Rs 35 Cr
PBDT (TTM)Rs 27 Cr
Profit before tax (TTM)Rs 10 Cr
Tax (latest year)Rs -4 Cr
Net profit (TTM)Rs 14 Cr
Net profit (latest year)Rs -0 Cr
Net profit (latest quarter)Rs 15 Cr
Depreciation (TTM)Rs 17 Cr
Depreciation (latest quarter)Rs 4 Cr
Interest (TTM)Rs 8 Cr
Cost of goods sold (latest year)Rs 316 Cr
Total expenditure (latest year)Rs 355 Cr
Total income (latest year)Rs 374 Cr
Share capitalRs 8 Cr
ReservesRs 254 Cr
Shareholders' fundsRs 262 Cr
Total assetsRs 452 Cr
Net blockRs 287 Cr
Capital work in progressRs 8 Cr
InvestmentsRs 0 Cr
ReceivablesRs 62 Cr
InventoryRs 73 Cr
Other liabilitiesRs 82 Cr
Shares outstanding (crore)0.80
Ownership
Promoter holding62.70% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 21.7 is at the 74th percentile of its own 7.0-year range (median 12.2, low 5.4, high 111.3).
P/B 1.16 is at the 74th percentile (median 0.84).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodAKSHARCHEMNifty 50Difference
1 week-0.1%-2.8% +2.7 pts
1 month-1.4%-6.8% +5.3 pts
3 months+64.3%-7.6% +72.0 pts
6 months+161.1%+0.4% +160.7 pts
1 year+40.1%-9.9% +50.0 pts
2 years+12.3%-13.6% +25.8 pts
3 years+32.0%+14.2% +17.8 pts
5 years-12.4%+27.9% -40.3 pts

Red flags

F-score 3 of 8
explainReceivables outrunning sales Receivables grew 54% vs sales +8% in 2026
explainDebt up, profit down Borrowings up 62% while net profit fell in 2026
lookOn NSE surveillance On NSE surveillance: ESM
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹141 Cr +45.4% vs Jun 2025. Net profit ₹15 Cr +1400.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-15Dividend - Re 0.50 Per Share
2025-09-04Dividend - Re 0.75 Per Share
2024-09-23Annual General Meeting/Dividend - Rs 0.50 Per Share
2023-09-20Annual General Meeting/Dividend - Re 0.50 Per Share
2022-09-20Annual General Meeting/Dividend - Re 0.50 Per Share
2021-11-11 Buyback
2021-09-20 Annual General Meeting/ Dividend Rs 3.5 Per Share
2020-09-22 Annual General Meeting
2020-03-20 Interim Dividend - Rs 3.5 Per Share
2019-09-20 Annual General Meeting/Dividend - Rs 3.5 Per Share
2018-09-19 Annual General Meeting/Dividend- Rs 3.50 Per Share
2017-09-06 Annual General Meeting
DateTypeWhat it says
2026-09-23Shareholder meetingVoting results.
2026-09-22Shareholder meetingProceedings of Annual General Meeting held on September 22, 2026
2026-08-29General UpdatesGeneral Updates
2026-08-29Record DateRecord date for the purpose of Dividend is 15-Sep-2026.
2026-08-29Shareholder meetingNotice of Annual General Meeting to be held on September 22, 2026
2026-08-12General UpdatesOutcome of Board Meeting dated August 12, 2026
2026-08-12Board meeting outcomeAksharChem India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-11Change in ManagementChange in Management
2026-07-01Shareholder meetingVoting results.
2026-06-20UpdatesCommissioning of another Ground Mounted Solar Power plant for captive consumption.
2026-05-29Shareholder meetingNotice of Postal Ballot
2026-05-21ResignationResignation of Mr. Ashok Dolatsinh Barot as Executive Director of the company w.e.f. May 21, 2026.
2026-05-21Director changeChange in Director(s) of the company.
2026-05-21AppointmentAppointment of Mr. Devalkumar Indrabal Suthar as Executive Director of the company w.e.f. May 21, 2026.
2026-05-21DividendBoard of Directors at its meeting held on May 21, 2026, recommended Final Dividend of Rs. 0.50 per equity share.
2026-05-21Board meeting outcomeAksharChem India Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-13Change in ManagementChange in Management
2026-05-13ResignationResignation of Mr. Ashok D. Barot as Executive Director of the company w.e.f. May 21, 2026.
2026-05-13ResignationResignation of Director/KMP/SMP
2026-04-29Disclosure under SEBI TakeovMrugesh Jaykrishna Family Trust-2 has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of In...
2026-03-19UpdatesResumption of Production at H-Acid plant.
2026-02-26Credit Rating- OthersReview of ratings on the enhanced bank facilities
2026-02-16UpdatesShutdown of H-Acid Plant.
2026-02-06Credit Rating- RevisionCredit Rating- Revision
2026-01-28General UpdatesGeneral Updates
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
ESM: stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03