MarketFriction

Indo Borax & Chemicals Ltd

NSE INDOBORAX · BSE 524342 · Commodity Chemicals
₹469.50 -2.48%
NSE close2026-10-01
52 week range226.00 - 542.80
Market cap₹1,569 Cr.
P/E32.0
Pledge Price band 20% Delivery 29.2%

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

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales474445503838505458416370
Expenses373534332927404147325051
Operating Profit109121691010121091320
OPM %22%21%25%33%24%27%20%23%18%21%20%28%
Other Income3333444313453
Interest-0-0-0-0-0-00-0-0-000
Depreciation111011111110
Profit before tax121114191314131423121722
Tax %27%27%20%27%29%34%20%29%28%24%17%26%
Net Profit9811149910101691516
EPS in Rs2.782.563.564.372.862.833.193.185.072.894.535.06
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales7067101128115144176225191175215232
Expenses57568310897100128163149129171180
Operating Profit121018201944486243464452
OPM %18%15%17%16%16%31%27%28%22%26%21%22%
Other Income3346543912162525
Interest000000000000
Depreciation111111122333
Profit before tax141220242247506952596774
Tax %32%31%34%28%24%26%27%26%25%28%24%
Net Profit9813181734365139435056
EPS in Rs2.882.494.175.465.2810.6711.3315.8012.1513.2515.6717.55
Dividend Payout %5%6%4%3%4%9%1%6%8%8%6%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth12%8%-1%30%
Compounded Profit Growth15%1%-9%27%
Stock Price CAGR33%23%45%115%
Return on Equity15%15%12%10%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital333333333333
Reserves758491101118135170204252290332383
Borrowings52100-0000001
Other Liabilities9810121110171420182117
Total Liabilities9297106117132149190222275311357405
Fixed Assets1121525150468991969910148
CWIP221111111111
Investments14322320371830494357209
Other Assets65432945448470126169169198147
Total Assets9297106117132149190222275311357405
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity018211151316116069-10487
Cash from Investing Activity13-26-245-1626-5426-8-30-7-77
Cash from Financing Activity-1-4-1-2-1-1-1-3-3-3-3-3
Net Cash Flow12-12-45-238-39344936-1157
Free Cash Flow-107191141315115765-111106
CFO/OP38%186%226%37%111%100%61%54%123%197%-194%242%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days253028322726222121263318
Inventory Days2522217059535617630919580210102
Days Payable35393519915312312132410
Cash Conversion Cycle2422116372716616630720493218110
Working Capital Days13912045746640811439648175165
ROCE %26%16%13%20%21%17%30%26%29%19%18%15%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters52.07%52.07%50.80%50.79%50.79%50.79%50.79%50.79%50.79%50.79%30.80%38.41%
FIIs0.01%0.03%0.10%0.00%0.06%0.01%0.02%0.02%0.53%0.23%0.45%0.13%
DIIs0.00%0.00%0.00%0.06%0.00%0.00%0.01%0.02%0.02%0.02%2.19%0.04%
Public47.90%47.89%49.09%49.15%49.14%49.20%49.16%49.16%48.67%48.96%66.56%61.43%
No. of Shareholders27,02927,86328,11127,43629,81729,64628,60327,03922,38721,09120,46620,592

Fundamentals

Market Cap₹ 1,569 Cr.
Current Price₹ 490
Stock P/E32.0
Book Value₹ 120
ROCE15.4 %
ROE10.1 %
Dividend Yield2.04 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)30%
Compounded Profit Growth (TTM)27%
Consolidated figures.
Valuation
Market capRs 1,507 Cr
Enterprise valueRs 1,494 Cr
P/E (TTM)26.76x
Price to book3.90x
Price to sales6.49x
EV / EBITDA19.45x
EV / EBIT20.13x
EV / sales6.43x
Price to cash flow17.29x
Earnings yield3.74%
Dividend yield0.21%
P/E, 3-year average13.87x
P/B, 3-year average1.80x
P/E, 5-year average9.87x
P/B, 5-year average1.38x
Profitability
Operating margin (excl. other income)20.55%
Operating margin (incl. other income)32.38%
EBITDA margin33.08%
Pre-tax margin31.93%
Net profit margin24.25%
Net margin, latest quarter23.10%
ROE13.93%
ROCE18.41%
ROA13.20%
ROE, 3-year average13.89%
ROCE, 3-year average18.73%
ROA, 3-year average13.07%
ROE, 5-year average16.55%
ROCE, 5-year average22.48%
ROA, 5-year average15.46%
ROIC (approx.)14.99%
Tax rate24.43%
Other income / net worth6.59%
Growth
Sales growth (latest year)22.90%
Profit growth (latest year)18.25%
Sales CAGR, 3 years-1.45%
Sales CAGR, 5 years8.37%
Profit CAGR, 3 years-0.28%
Profit CAGR, 5 years7.97%
Sales growth QoQ11.66%
Profit growth QoQ11.84%
Sales growth YoY (latest quarter)31.34%
Profit growth YoY (latest quarter)59.31%
Per share
EPS (TTM)Rs 17.55
EPS (latest year)Rs 15.67
EPS (latest quarter)Rs 5.06
EPS, 3-year averageRs 13.69
EPS, 5-year averageRs 34.04
Book value per shareRs 120.47
Sales per shareRs 72.37
Cash flow per shareRs 27.16
Free cash flow per shareRs 33.03
Dividend per share (latest year)Rs 1.00
Dividend per share, 3-year averageRs 1.00
Dividend per share, 5-year averageRs 1.00
Dividends
Dividend payout6.39%
Dividend payout, 3-year average7.39%
Dividend payout, 5-year average5.88%
Efficiency
Asset turnover0.53x
Fixed asset turnover4.52x
Inventory turnover4.16x
Inventory days88 days
Debtor days18 days
Debtors turnover20.75x
Creditor days10 days
Cash conversion cycle110 days
Working capital days165 days
Leverage
Total debtRs 1 Cr
Cash and bankRs 14 Cr
Net debtRs -12 Cr
Debt to equity0.00x
Net debt / EBITDA-0.16x
Interest coverage1060.29x
Current ratio (filing 2026-03-31)20.85x
Quick ratio (filing 2026-03-31)18.80x
Trade payables (filing 2026-03-31)Rs 3 Cr
Owners' fund to total sources95.48%
Debt to assets0.35%
Cash flow
Cash from Operating Activity (latest year)Rs 87 Cr
Cash from Investing Activity (latest year)Rs -77 Cr
Cash from Financing Activity (latest year)Rs -3 Cr
Net Cash Flow (latest year)Rs 7 Cr
Free cash flow (latest year)Rs 106 Cr
FCFE (approx.: FCF + change in debt)Rs 107 Cr
Cash from ops / profit, 5 years0.56x
Sales to cash flow2.47x
Statement figures
Net sales (TTM)Rs 232 Cr
Net sales (latest year)Rs 215 Cr
Sales (latest quarter)Rs 70 Cr
Operating profit excl. other income (latest year)Rs 44 Cr
Operating profit (latest quarter)Rs 20 Cr
Other income (TTM)Rs 25 Cr
EBITDA (TTM)Rs 77 Cr
PBDT (TTM)Rs 77 Cr
Profit before tax (TTM)Rs 74 Cr
Tax (latest year)Rs 16 Cr
Net profit (TTM)Rs 56 Cr
Net profit (latest year)Rs 50 Cr
Net profit (latest quarter)Rs 16 Cr
Depreciation (TTM)Rs 3 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 132 Cr
Total expenditure (latest year)Rs 171 Cr
Total income (latest year)Rs 241 Cr
Share capitalRs 3 Cr
ReservesRs 383 Cr
Shareholders' fundsRs 387 Cr
Total assetsRs 405 Cr
Net blockRs 48 Cr
Capital work in progressRs 1 Cr
InvestmentsRs 209 Cr
ReceivablesRs 10 Cr
InventoryRs 32 Cr
Other liabilitiesRs 17 Cr
Shares outstanding (crore)3.21
Ownership
Promoter holding38.41% (-12.38 in a year)
Promoter pledge flagYes, NSE list
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 26.8 is at the 97th percentile of its own 9.4-year range (median 12.3, low 2.8, high 29.0).
P/B 3.90 is at the 97th percentile (median 1.93).
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.
PeriodINDOBORAXNifty 50Difference
1 week+3.8%-2.8% +6.5 pts
1 month-9.0%-6.8% -2.2 pts
3 months+19.7%-7.6% +27.3 pts
6 months+93.1%+0.4% +92.7 pts
1 year+95.3%-9.9% +105.3 pts
2 years+96.9%-13.6% +110.4 pts
3 years+195.3%+14.2% +181.1 pts
5 years+177.6%+27.9% +149.8 pts

Red flags

F-score 6 of 8
explainWeak cash conversion Cash from operations was 40% of net profit over the last 3 years
explainPromoter pledge (NSE list) Promoter shares on the NSE pledge list
lookOn NSE surveillance On NSE surveillance: Pledge
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 ₹70 Cr +29.6% vs Jun 2025. Net profit ₹16 Cr +60.0%.

Activity

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Ex-dateActionFactor
2026-07-21Dividend - Rs 10 Per Share/Special Dividend - Rs 30 Per Share
2025-09-18Dividend - Re 1 Per Share
2024-08-20Dividend - Re 1 Per Share
2024-08-20Annual General Meeting
2023-08-11Dividend - Rs 1 Per Share
2023-08-11Annual General Meeting
2022-08-18Annual General Meeting/Dividend - Re 1 Per Share
DateTypeWhat it says
2026-10-01Press ReleaseA press release dated October 01, 2026, titled "Pursuant to regulation 30 of the SEBI (LODR) Regulations, 2015 please find enclosed herewith the press...
2026-09-29UpdatesCompletion of the acquisition of 64.26 % of the share capital of Kronox Lab Sciences Limited.
2026-09-24General UpdatesThe availment of funding for acquisition.
2026-09-23Concall / analyst meetSchedule of meet
2026-09-11Shareholder meetingVoting results.
2026-09-08Concall / analyst meetTranscript
2026-09-02Concall / analyst meetLink of Recording
2026-09-01Concall / analyst meetPresentation
2026-08-31Credit Rating- RevisionCredit Rating- Revision
2026-08-31UpdatesCorporate Office.
2026-08-27Concall / analyst meetSchedule of meet
2026-08-20Press ReleaseA press release dated August 20, 2026, titled "Press Release - Indo Borax and Chemicals Limited to Acquire 64.26% Stake in Kronox Lab Sciences Limited...
2026-08-20AcquisitionAcquisition
2026-08-20Board meeting outcomeOutcome of Board Meeting held on August 20, 2026.
2026-08-11Shareholder meetingNotice of Postal Ballot
2026-08-10Press ReleaseA press release dated August 10, 2026, titled "Press Release -Un-Audited Financial Results for the quarter ended June 30, 2026".
2026-08-10Board meeting outcomeIndo Borax & Chemicals Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-29Shareholder meetingVoting results.
2026-07-28Shareholder meetingProceedings of Annual General Meeting held on July 28, 2026
2026-07-23Credit Rating- NewCredit Rating- New
2026-07-21Address ChangeChange in Registered Office of the company.
2026-07-21Amalgamation/MergerAmalgamation/Merger
2026-07-21Board meeting outcomeOutcome of Board Meeting held on July 21, 2026.
2026-07-13UpdatesCommunication to Shareholders-Intimation on Tax Deduction on Dividend.
2026-07-02General UpdatesPhysical letters to shareholders of the Company
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.
Pledge: stage 1

Quick answers

What is the market cap of Indo Borax & Chemicals Ltd?

Indo Borax & Chemicals Ltd (INDOBORAX) has a market capitalisation of Rs 1,569 Cr. at the 2026-10-01 close.

What is the P/E ratio of Indo Borax & Chemicals Ltd?

Indo Borax & Chemicals Ltd trades at a P/E of 32.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were Indo Borax & Chemicals Ltd's latest quarterly results?

In the Jun 2026 quarter, Indo Borax & Chemicals Ltd sales was Rs 70 Cr (+29.6% vs Jun 2025) and net profit was Rs 16 Cr.

What is the 52-week high and low of Indo Borax & Chemicals Ltd?

The 52-week high is Rs 542.80 and the 52-week low is Rs 226.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03