Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 16.84 | 24.55 | 24.42 | 14.67 | 20.46 | 22.34 | 24.87 | 20.61 | 18.77 | 24.91 | 28.73 | 17.57 |
| Expenses | 15.11 | 21.78 | 22.53 | 16.40 | 20.69 | 24.29 | 21.70 | 19.06 | 18.59 | 25.17 | 22.65 | 17.91 |
| Operating Profit | 1.73 | 2.77 | 1.89 | -1.73 | -0.23 | -1.95 | 3.17 | 1.55 | 0.18 | -0.26 | 6.08 | -0.34 |
| OPM % | 10.27% | 11.28% | 7.74% | -11.79% | -1.12% | -8.73% | 12.75% | 7.52% | 0.96% | -1.04% | 21.16% | -1.94% |
| Other Income | 0.20 | 0.10 | 0.17 | 0.08 | 0.10 | -1.21 | 0.28 | 0.04 | 0.05 | 0.24 | 0.28 | 0.77 |
| Interest | 0.69 | 0.75 | 0.51 | 0.58 | 0.80 | 0.50 | 0.52 | 0.44 | 0.42 | 0.69 | 0.40 | 0.37 |
| Depreciation | 1.15 | 1.17 | 1.15 | 1.09 | 1.08 | 1.08 | 0.90 | 0.82 | 0.72 | 0.68 | 0.66 | 0.70 |
| Profit before tax | 0.09 | 0.95 | 0.40 | -3.32 | -2.01 | -4.74 | 2.03 | 0.33 | -0.91 | -1.39 | 5.30 | -0.64 |
| Tax % | 0.00% | 62.11% | -42.50% | 0.00% | -5.47% | 4.22% | -114.29% | 448.48% | 0.00% | 0.00% | 24.15% | 0.00% |
| Net Profit | 0.10 | 0.36 | 0.56 | -3.32 | -1.90 | -4.93 | 4.35 | -1.15 | -0.91 | -1.39 | 4.02 | -0.64 |
| EPS in Rs | 0.10 | 0.35 | 0.55 | -3.26 | -1.87 | -4.84 | 4.27 | -1.13 | -0.89 | -1.37 | 3.95 | -0.63 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 73.28 | 61.12 | 64.93 | 71.56 | 70.85 | 55.38 | 91.02 | 88.23 | 82.86 | 82.33 | 93.03 | 89.98 |
| Expenses | 63.35 | 54.28 | 58.13 | 64.14 | 64.17 | 49.32 | 79.64 | 78.55 | 74.57 | 82.96 | 85.31 | 84.32 |
| Operating Profit | 9.93 | 6.84 | 6.80 | 7.42 | 6.68 | 6.06 | 11.38 | 9.68 | 8.29 | -0.63 | 7.72 | 5.66 |
| OPM % | 13.55% | 11.19% | 10.47% | 10.37% | 9.43% | 10.94% | 12.50% | 10.97% | 10.00% | -0.77% | 8.30% | 6.29% |
| Other Income | 0.25 | 0.12 | 0.50 | 0.40 | 0.35 | 0.05 | 0.14 | 1.05 | 0.42 | -0.75 | 0.61 | 1.34 |
| Interest | 3.44 | 2.96 | 2.52 | 2.71 | 2.47 | 2.54 | 2.63 | 2.67 | 2.56 | 2.51 | 2.13 | 1.88 |
| Depreciation | 3.75 | 3.62 | 3.48 | 3.41 | 3.45 | 3.35 | 3.86 | 4.29 | 4.60 | 4.15 | 2.89 | 2.76 |
| Profit before tax | 2.99 | 0.38 | 1.30 | 1.70 | 1.11 | 0.22 | 5.03 | 3.77 | 1.55 | -8.04 | 3.31 | 2.36 |
| Tax % | 24.41% | 7.89% | 0.00% | 0.00% | -12.61% | 650.00% | 30.82% | 22.55% | 27.10% | -27.86% | 83.38% | |
| Net Profit | 2.26 | 0.35 | 1.31 | 1.69 | 1.25 | -1.21 | 3.48 | 2.91 | 1.13 | -5.80 | 0.56 | 1.08 |
| EPS in Rs | 2.22 | 0.34 | 1.29 | 1.66 | 1.23 | -1.19 | 3.42 | 2.86 | 1.11 | -5.70 | 0.55 | 1.06 |
| Dividend Payout % | 54.05% | 145.43% | 77.71% | 72.28% | 81.44% | -67.31% | 58.51% | 69.97% | 90.09% | -8.78% | 181.79% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 2% | 11% | 2% | 2% | ||
| Compounded Profit Growth | -13% | 18% | -43% | 176% | ||
| Stock Price CAGR | 5% | 6% | -6% | 3% | ||
| Return on Equity | 2% | 2% | -1% | 1% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10.18 | 10.18 | 10.18 | 10.18 | 10.18 | 10.18 | 10.18 | 10.18 | 10.18 | 10.18 | 10.18 | 10.18 |
| Reserves | 39.19 | 39.97 | 40.34 | 41.20 | 41.85 | 40.10 | 39.19 | 41.90 | 42.68 | 41.16 | 34.34 | 34.51 |
| Borrowings | 32.75 | 21.69 | 21.44 | 18.08 | 18.19 | 19.99 | 21.92 | 17.25 | 23.82 | 22.84 | 18.18 | 18.13 |
| Other Liabilities | 12.47 | 15.14 | 17.55 | 19.46 | 20.81 | 16.98 | 24.96 | 27.42 | 25.24 | 31.33 | 28.38 | 30.05 |
| Total Liabilities | 94.59 | 86.98 | 89.51 | 88.92 | 91.03 | 87.25 | 96.25 | 96.75 | 101.92 | 105.51 | 91.08 | 92.87 |
| Fixed Assets | 57.00 | 53.71 | 49.84 | 46.82 | 44.76 | 44.87 | 46.66 | 46.27 | 49.47 | 47.29 | 41.03 | 38.46 |
| CWIP | 0.36 | 0.46 | 1.56 | 1.55 | 2.12 | 2.15 | 0.43 | 0.63 | 1.33 | 0.19 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 37.23 | 32.81 | 38.11 | 40.55 | 44.15 | 40.23 | 49.16 | 49.85 | 51.12 | 58.03 | 50.05 | 54.41 |
| Total Assets | 94.59 | 86.98 | 89.51 | 88.92 | 91.03 | 87.25 | 96.25 | 96.75 | 101.92 | 105.51 | 91.08 | 92.87 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 9.16 | 8.28 | 4.19 | 4.50 | 6.90 | 9.43 | 1.32 | 11.19 | 11.19 | 6.29 | 5.25 | 2.82 |
| Cash from Investing Activity | -2.11 | -0.44 | -0.97 | -0.41 | -2.81 | -3.74 | -3.52 | -2.84 | -3.14 | -1.64 | -0.75 | -0.27 |
| Cash from Financing Activity | -5.53 | -9.92 | -3.26 | -4.06 | -4.08 | -3.16 | 0.07 | -6.82 | -8.96 | -5.71 | -4.50 | -2.54 |
| Net Cash Flow | 1.52 | -2.08 | -0.05 | 0.03 | 0.02 | 2.53 | -2.13 | 1.53 | -0.91 | -1.06 | 0.00 | 0.01 |
| Free Cash Flow | 6.83 | 7.72 | 3.05 | 4.01 | 3.99 | 5.63 | -2.24 | 8.33 | 8.05 | 4.60 | 4.43 | 2.50 |
| CFO/OP | 97% | 94% | 65% | 62% | 92% | 145% | 23% | 94% | 116% | 76% | -833% | 37% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 45.65 | 56.28 | 61.39 | 79.26 | 54.78 | 32.82 | 79.02 | 53.74 | 56.63 | 79.16 | 63.57 | 76.15 |
| Inventory Days | 176.18 | 119.11 | 251.90 | 194.18 | 241.56 | 233.58 | 493.80 | 245.90 | 277.93 | 381.69 | 223.28 | 223.59 |
| Days Payable | 111.92 | 116.85 | 182.90 | 166.75 | 169.77 | 121.63 | 318.70 | 165.04 | 180.30 | 281.00 | 161.04 | 203.67 |
| Cash Conversion Cycle | 109.91 | 58.55 | 130.39 | 106.70 | 126.57 | 144.76 | 254.13 | 134.59 | 154.26 | 179.84 | 125.82 | 96.08 |
| Working Capital Days | -13.01 | -24.01 | -9.50 | 7.65 | 14.69 | 5.31 | 48.57 | 25.91 | 20.52 | 31.50 | 0.18 | 20.48 |
| ROCE % | 6.97% | 8.35% | 5.05% | 5.47% | 6.31% | 5.41% | 4.10% | 11.11% | 8.94% | 5.99% | -4.70% | 8.67% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 69.59% | 69.59% | 69.59% | 69.59% | 69.59% | 69.59% | 69.59% | 69.59% | 69.59% | 69.59% | 69.59% | 69.59% |
| FIIs | 0.41% | 0.12% | 0.16% | 0.07% | 0.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 30.00% | 30.30% | 30.26% | 30.34% | 30.35% | 30.42% | 30.41% | 30.41% | 30.41% | 30.42% | 30.41% | 30.40% |
| No. of Shareholders | 13,185 | 12,208 | 12,295 | 12,566 | 13,730 | 13,601 | 13,487 | 13,522 | 13,280 | 13,065 | 12,906 | 12,780 |
Fundamentals
Market Cap₹ 93.4 Cr.
Current Price₹ 92.1
Stock P/E86.4
Book Value₹ 43.9
ROCE8.67 %
ROE1.26 %
Dividend Yield1.09 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)2%
Compounded Profit Growth (TTM)176%
Standalone figures.
Valuation
Market capRs 89 Cr
Enterprise valueRs 106 Cr
P/E (TTM)82.12x
Price to book1.98x
Price to sales0.99x
EV / EBITDA15.12x
EV / EBIT24.96x
EV / sales1.18x
Price to cash flow31.45x
Earnings yield1.22%
Dividend yield1.15%
P/E, 3-year average89.85x
P/B, 3-year average1.65x
P/E, 5-year average58.73x
P/B, 5-year average1.65x
Profitability
Operating margin (excl. other income)8.30%
Operating margin (incl. other income)8.95%
EBITDA margin7.78%
Pre-tax margin2.62%
Net profit margin1.20%
Net margin, latest quarter-3.64%
ROE1.26%
ROCE8.67%
ROA0.61%
ROE, 3-year average-2.89%
ROCE, 3-year average2.01%
ROA, 3-year average-1.40%
ROE, 5-year average0.75%
ROCE, 5-year average5.15%
ROA, 5-year average0.47%
ROIC (approx.)1.14%
Tax rate83.38%
Other income / net worth1.36%
Growth
Sales growth (latest year)13.00%
Sales CAGR, 3 years1.78%
Sales CAGR, 5 years10.93%
Profit CAGR, 3 years-42.27%
Sales growth QoQ-38.84%
Profit growth QoQ-115.92%
Sales growth YoY (latest quarter)-14.75%
Per share
EPS (TTM)Rs 1.06
EPS (latest year)Rs 0.55
EPS (latest quarter)Rs -0.63
EPS, 3-year averageRs -1.35
EPS, 5-year averageRs 0.45
Book value per shareRs 43.89
Sales per shareRs 88.37
Cash flow per shareRs 2.77
Free cash flow per shareRs 2.46
Dividend per share (latest year)Rs 1.00
Dividend per share, 3-year averageRs 0.83
Dividend per share, 5-year averageRs 1.30
Dividends
Dividend payout182.14%
Dividend payout, 3-year average136.20%
Dividend payout, 5-year average100.28%
Efficiency
Asset turnover1.00x
Fixed asset turnover2.42x
Inventory turnover2.24x
Inventory days163 days
Debtor days76 days
Debtors turnover4.79x
Creditor days204 days
Cash conversion cycle96 days
Working capital days20 days
Leverage
Total debtRs 18 Cr
Cash and bankRs 1 Cr
Net debtRs 17 Cr
Debt to equity0.41x
Net debt / EBITDA2.45x
Interest coverage2.26x
Owners' fund to total sources48.12%
Debt to assets19.52%
Cash flow
Cash from Operating Activity (latest year)Rs 3 Cr
Cash from Investing Activity (latest year)Rs -0 Cr
Cash from Financing Activity (latest year)Rs -3 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs 2 Cr
FCFE (approx.: FCF + change in debt)Rs 2 Cr
Cash from ops / profit, 5 years16.11x
Sales to cash flow32.99x
Statement figures
Net sales (TTM)Rs 90 Cr
Net sales (latest year)Rs 93 Cr
Sales (latest quarter)Rs 18 Cr
Operating profit excl. other income (latest year)Rs 8 Cr
Operating profit (latest quarter)Rs -0 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 7 Cr
PBDT (TTM)Rs 5 Cr
Profit before tax (TTM)Rs 2 Cr
Tax (latest year)Rs 3 Cr
Net profit (TTM)Rs 1 Cr
Net profit (latest year)Rs 1 Cr
Net profit (latest quarter)Rs -1 Cr
Depreciation (TTM)Rs 3 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 65 Cr
Total expenditure (latest year)Rs 85 Cr
Total income (latest year)Rs 94 Cr
Share capitalRs 10 Cr
ReservesRs 35 Cr
Shareholders' fundsRs 45 Cr
Total assetsRs 93 Cr
Net blockRs 38 Cr
ReceivablesRs 19 Cr
InventoryRs 29 Cr
Other liabilitiesRs 30 Cr
Shares outstanding (crore)1.02
Ownership
Promoter holding69.59% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 82.1 is at the 72th percentile of its own 7.4-year range
(median 40.7, low 15.1, high 258.1).
P/B 1.98 is at the 66th percentile (median 1.61).
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.
| Period | ALKALI | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -9.6% | -2.8% | -6.8 pts |
| 1 month | +29.2% | -6.8% | +36.0 pts |
| 3 months | +3.2% | -7.6% | +10.8 pts |
| 6 months | +82.9% | +0.4% | +82.5 pts |
| 1 year | -8.6% | -9.9% | +1.4 pts |
| 2 years | -29.2% | -13.6% | -15.6 pts |
| 3 years | -23.6% | +14.2% | -37.8 pts |
| 5 years | +1.5% | +27.9% | -26.4 pts |
Red flags
F-score 8 of 8| look | On 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 2026Sales ₹18 Cr -14.8% vs Jun 2025.
Net loss ₹1 Cr.
Activity
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| Atul Ltd | 17,614 | 22.1 | 14.9 % |
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| Fine Organic Industries Ltd | 15,759 | 36.0 | 21.5 % |
| BASF India Ltd | 14,871 | 24.0 | 14.5 % |
| Privi Speciality Chemicals Ltd | 14,084 | 40.3 | 22.3 % |
| Anupam Rasayan India Ltd | 13,409 | 76.8 | 7.38 % |
| Vinati Organics Ltd | 12,173 | 24.4 | 21.4 % |
| Elantas Beck India Ltd | 10,820 | 60.9 | 21.2 % |
| Jubilant Ingrevia Ltd | 10,180 | 32.0 | 11.4 % |
| Alkyl Amines Chemicals Ltd | 9,111 | 40.5 | 16.6 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-08-14 | Dividend - Re 1 Per Share | |
| 2025-08-14 | Dividend - Re 0.50 Per Share | |
| 2024-08-16 | Annual General Meeting/Dividend - Re 1 Per Share | |
| 2023-08-14 | Annual General Meeting/Dividend - Rs 2 Per Share | |
| 2022-12-08 | Extra Ordinary General Meeting | |
| 2022-08-11 | Annual General Meeting/Dividend - Rs 2 Per Share | |
| 2021-08-12 | Annual General Meeting/Dividend - Rs 0.80 Per Share | |
| 2020-09-17 | Annual General Meeting | |
| 2020-02-05 | Interim Dividend -Rs 1 Per Share | |
| 2019-07-25 | Annual General Meeting/ Dividend - Rs 1.20 Per Share | |
| 2018-06-21 | Annual General Meeting/Dividend- Re 1 Per Share | |
| 2017-07-27 | Annual General Meeting/Dividend - Re 0.50 Per Share | |
| 2016-07-21 | Annual General Meeting /Dividend - Re 0.40/- Per Share | |
| 2016-02-04 | Interim Dividend - Re 0.80/- Per Share | |
| 2015-09-10 | Annual General Meeting | |
| 2014-08-13 | Annual General Meeting | |
| 2013-07-23 | Annual General Meeting / Final Dividend Re.1/- Per Equity Share | |
| 2012-07-25 | Annual General Meeting And Dividend - Rs.1/- Per Share | |
| 2011-07-26 | Annual General Meeting And Dividend Rs.2/- Per Share | |
| 2010-07-26 | Annual General Meeting / Dividend Rs 4/- Per Share | |
| 2009-05-25 | Agm/Dividend - 40% |
| Date | Type | What it says |
|---|---|---|
| 2026-09-30 | Shareholder meeting | With copy of minutes of Annual General Meeting held on August 21, 2026 |
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 1Scrip PE is greater than 50 (4 trailing quarters)