Price
Financials
Consolidated, 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 | 97 | 84 | 98 | 105 | 83 | 86 | 108 | 117 | 124 | 131 | 134 | 167 |
| Expenses | 76 | 73 | 83 | 93 | 78 | 79 | 99 | 100 | 101 | 106 | 106 | 135 |
| Operating Profit | 20 | 11 | 16 | 13 | 6 | 7 | 9 | 17 | 22 | 25 | 28 | 32 |
| OPM % | 21% | 13% | 16% | 12% | 7% | 8% | 8% | 15% | 18% | 19% | 21% | 19% |
| Other Income | 1 | 1 | 5 | 1 | 0 | 0 | 1 | 1 | 1 | 2 | -0 | 1 |
| Interest | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 2 |
| Depreciation | 7 | 7 | 6 | 7 | 7 | 7 | 7 | 9 | 9 | 9 | 10 | 11 |
| Profit before tax | 11 | 5 | 14 | 7 | -1 | -0 | 2 | 9 | 14 | 18 | 17 | 21 |
| Tax % | 31% | 34% | 30% | 24% | -34% | -165% | 49% | 27% | 27% | 14% | 38% | 24% |
| Net Profit | 8 | 3 | 10 | 5 | -1 | 0 | 1 | 7 | 10 | 15 | 10 | 16 |
| EPS in Rs | 3.33 | 1.48 | 4.11 | 2.23 | -0.28 | 0.06 | 0.44 | 2.84 | 4.24 | 6.49 | 4.41 | 6.83 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 136 | 206 | 263 | 300 | 434 | 424 | 394 | 383 | 506 | 556 |
| Expenses | 113 | 172 | 208 | 234 | 325 | 363 | 325 | 348 | 412 | 448 |
| Operating Profit | 23 | 34 | 55 | 67 | 109 | 61 | 69 | 35 | 94 | 108 |
| OPM % | 17% | 17% | 21% | 22% | 25% | 14% | 17% | 9% | 18% | 19% |
| Other Income | 1 | 1 | 1 | 5 | 9 | 2 | 7 | 2 | 3 | 4 |
| Interest | 3 | 4 | 4 | 4 | 5 | 9 | 7 | 2 | 3 | 5 |
| Depreciation | 3 | 4 | 5 | 7 | 8 | 10 | 26 | 28 | 37 | 38 |
| Profit before tax | 19 | 27 | 48 | 61 | 104 | 45 | 44 | 8 | 57 | 69 |
| Tax % | 35% | 25% | 21% | 14% | 8% | -2% | 30% | 25% | 26% | |
| Net Profit | 12 | 21 | 38 | 52 | 96 | 45 | 30 | 6 | 42 | 51 |
| EPS in Rs | 15.30 | 25.56 | 47.03 | 26.02 | 43.25 | 20.52 | 12.97 | 2.44 | 17.98 | 21.97 |
| Dividend Payout % | 0% | 0% | 0% | 19% | 5% | 10% | 15% | 41% | 11% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 11% | 6% | 41% | ||
| Compounded Profit Growth | % | -4% | -5% | 632% | ||
| Stock Price CAGR | % | -4% | 5% | 82% | ||
| Return on Equity | % | 8% | 4% | 6% |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 8 | 20 | 22 | 22 | 23 | 23 | 23 |
| Reserves | 51 | 72 | 110 | 146 | 451 | 493 | 714 | 715 | 758 |
| Borrowings | 56 | 77 | 91 | 90 | 120 | 170 | 14 | 36 | 120 |
| Other Liabilities | 28 | 31 | 41 | 59 | 65 | 74 | 67 | 61 | 102 |
| Total Liabilities | 144 | 188 | 249 | 315 | 658 | 759 | 819 | 836 | 1,004 |
| Fixed Assets | 57 | 67 | 111 | 120 | 160 | 196 | 427 | 529 | 609 |
| CWIP | 10 | 6 | 5 | 10 | 51 | 231 | 77 | 24 | 25 |
| Investments | 1 | 0 | 0 | 0 | 0 | 0 | 10 | 0 | 4 |
| Other Assets | 76 | 115 | 133 | 185 | 447 | 332 | 305 | 283 | 365 |
| Total Assets | 144 | 188 | 249 | 315 | 658 | 759 | 819 | 836 | 1,004 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 13 | 7 | 25 | 20 | 20 | 28 | 98 | 25 | 31 |
| Cash from Investing Activity | -30 | -17 | -40 | -21 | -197 | -101 | -121 | -65 | -116 |
| Cash from Financing Activity | 7 | 17 | 10 | -5 | 235 | 38 | 31 | 17 | 79 |
| Net Cash Flow | -10 | 8 | -5 | -6 | 59 | -36 | 8 | -24 | -6 |
| Free Cash Flow | -18 | -2 | -23 | -1 | -69 | -175 | -30 | -51 | -82 |
| CFO/OP | 105% | 39% | 61% | 44% | 36% | 61% | 157% | 85% | 42% |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 77 | 73 | 69 | 110 | 48 | 73 | 65 | 85 | 86 |
| Inventory Days | 148 | 114 | 175 | 173 | 319 | 262 | 320 | 246 | 319 |
| Days Payable | 127 | 71 | 87 | 114 | 83 | 52 | 94 | 60 | 95 |
| Cash Conversion Cycle | 99 | 116 | 157 | 169 | 283 | 283 | 291 | 271 | 310 |
| Working Capital Days | 15 | 46 | 47 | 74 | 74 | 25 | 158 | 148 | 92 |
| ROCE % | 22% | 28% | 28% | 26% | 9% | 7% | 1% | 7% |
| 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 | 72.02% | 72.02% | 72.02% | 72.02% | 72.02% | 72.02% | 72.02% | 72.02% | 72.02% | 72.02% | 72.02% | 72.02% |
| FIIs | 4.40% | 4.21% | 3.65% | 3.37% | 3.33% | 3.36% | 3.30% | 3.26% | 3.40% | 4.17% | 3.81% | 3.93% |
| DIIs | 13.78% | 13.06% | 12.84% | 10.64% | 6.83% | 6.34% | 5.46% | 5.11% | 3.87% | 3.32% | 2.99% | 3.11% |
| Public | 9.79% | 10.72% | 11.49% | 13.97% | 17.81% | 18.27% | 19.21% | 19.60% | 20.72% | 20.49% | 21.16% | 20.94% |
| No. of Shareholders | 74,628 | 74,519 | 73,730 | 73,912 | 79,623 | 79,009 | 78,393 | 76,792 | 73,331 | 68,657 | 66,842 | 64,921 |
Fundamentals
Market Cap₹ 4,223 Cr.
Current Price₹ 1,806
Stock P/E80.6
Book Value₹ 334
ROCE7.18 %
ROE5.54 %
Dividend Yield0.11 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)41%
Compounded Profit Growth (TTM)632%
Consolidated figures.
Valuation
Market capRs 4,078 Cr
Enterprise valueRs 4,100 Cr
P/E (TTM)79.35x
Price to book5.52x
Price to sales7.33x
EV / EBITDA36.61x
EV / EBIT55.75x
EV / sales7.37x
Price to cash flow164.62x
Earnings yield1.26%
Dividend yield0.06%
P/E, 3-year average147.29x
P/B, 3-year average4.25x
P/E, 5-year average123.81x
P/B, 5-year average5.89x
Profitability
Operating margin (excl. other income)9.03%
Operating margin (incl. other income)9.60%
EBITDA margin20.14%
Pre-tax margin12.41%
Net profit margin9.24%
Net margin, latest quarter9.57%
ROE0.77%
ROCE1.19%
ROA0.69%
ROE, 3-year average4.94%
ROCE, 3-year average5.51%
ROA, 3-year average3.65%
ROE, 5-year average16.34%
ROCE, 5-year average14.06%
ROA, 5-year average9.84%
ROIC (approx.)7.28%
Tax rate24.67%
Other income / net worth0.30%
Growth
Sales growth (latest year)-2.74%
Profit growth (latest year)-81.19%
Sales CAGR, 3 years-4.08%
Sales CAGR, 5 years7.77%
Profit CAGR, 3 years-60.95%
Profit CAGR, 5 years-31.47%
Sales growth QoQ24.54%
Profit growth QoQ54.84%
Sales growth YoY (latest quarter)42.96%
Profit growth YoY (latest quarter)140.30%
Per share
EPS (TTM)Rs 21.97
EPS (latest year)Rs 2.44
EPS (latest quarter)Rs 6.83
EPS, 3-year averageRs 11.98
EPS, 5-year averageRs 21.04
Book value per shareRs 315.84
Sales per shareRs 237.71
Cash flow per shareRs 10.59
Free cash flow per shareRs -35.05
Dividend per share (latest year)Rs 1.00
Dividend per share, 3-year averageRs 1.67
Dividend per share, 5-year averageRs 2.40
Dividends
Dividend payout40.98%
Dividend payout, 3-year average22.05%
Dividend payout, 5-year average17.99%
Efficiency
Asset turnover0.46x
Fixed asset turnover0.72x
Inventory turnover1.87x
Inventory days195 days
Debtor days85 days
Debtors turnover4.27x
Creditor days95 days
Cash conversion cycle310 days
Working capital days92 days
Leverage
Total debtRs 36 Cr
Cash and bankRs 14 Cr
Net debtRs 22 Cr
Debt to equity0.05x
Net debt / EBITDA0.20x
Interest coverage16.27x
Current ratio (filing 2026-03-31)1.64x
Quick ratio (filing 2026-03-31)0.72x
Trade payables (filing 2026-03-31)Rs 58 Cr
Owners' fund to total sources88.35%
Debt to assets4.35%
Cash flow
Cash from Operating Activity (latest year)Rs 25 Cr
Cash from Investing Activity (latest year)Rs -65 Cr
Cash from Financing Activity (latest year)Rs 17 Cr
Net Cash Flow (latest year)Rs -24 Cr
Free cash flow (latest year)Rs -82 Cr
FCFE (approx.: FCF + change in debt)Rs -60 Cr
Cash from ops / profit, 5 years0.92x
Sales to cash flow15.45x
Statement figures
Net sales (TTM)Rs 556 Cr
Net sales (latest year)Rs 383 Cr
Sales (latest quarter)Rs 167 Cr
Operating profit excl. other income (latest year)Rs 35 Cr
Operating profit (latest quarter)Rs 32 Cr
Other income (TTM)Rs 4 Cr
EBITDA (TTM)Rs 112 Cr
PBDT (TTM)Rs 107 Cr
Profit before tax (TTM)Rs 69 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 51 Cr
Net profit (latest year)Rs 6 Cr
Net profit (latest quarter)Rs 16 Cr
Depreciation (TTM)Rs 38 Cr
Depreciation (latest quarter)Rs 11 Cr
Interest (TTM)Rs 5 Cr
Cost of goods sold (latest year)Rs 251 Cr
Total expenditure (latest year)Rs 348 Cr
Total income (latest year)Rs 385 Cr
Share capitalRs 23 Cr
ReservesRs 715 Cr
Shareholders' fundsRs 739 Cr
Total assetsRs 836 Cr
Net blockRs 529 Cr
Capital work in progressRs 24 Cr
ReceivablesRs 90 Cr
InventoryRs 134 Cr
Other liabilitiesRs 61 Cr
Shares outstanding (crore)2.34
Ownership
Promoter holding72.02% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 79.3 is at the 44th percentile of its own 5.2-year range
(median 87.3, low 25.2, high 392.4).
P/B 5.52 is at the 44th percentile (median 6.01).
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 | TATVA | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +0.8% | -2.8% | +3.6 pts |
| 1 month | +8.6% | -6.8% | +15.4 pts |
| 3 months | +39.5% | -7.6% | +47.1 pts |
| 6 months | +65.6% | +0.4% | +65.2 pts |
| 1 year | +65.2% | -9.9% | +75.1 pts |
| 2 years | +74.0% | -13.6% | +87.5 pts |
| 3 years | +10.1% | +14.2% | -4.0 pts |
| 5 years | -19.1% | +27.9% | -47.0 pts |
6 mutual fund schemes hold about ₹109 Cr.
Over three months 2 bought more and 2 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Nippon India ELSS Tax Saver Fund | 0.57% | 84 | -1% |
| ICICI Pru MNC Fund | 0.60% | 11 | -5% |
| ICICI Pru Commodities Fund | 0.22% | 9 | -11% |
| WOC Pharma and Healthcare Fund | 0.39% | 4 | +55% |
| JM Multi Asset Allocation Fund | 0.63% | 1 | +100% |
| Motilal Oswal BSE 1000 Index Fund | 0.01% | 0 |
Red flags
F-score 4 of 8| explain | Receivables outrunning sales Receivables grew 28% vs sales -3% in 2026 |
| explain | Debt up, profit down Borrowings up 155% while net profit fell in 2026 |
| look | On NSE surveillance On NSE surveillance: ASM long-term |
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 ₹167 Cr +42.7% vs Jun 2025.
Net profit ₹16 Cr +128.6%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Pidilite Industries Ltd | 148,809 | 56.2 | 31.0 % |
| Gujarat Fluorochemicals Ltd | 48,402 | 78.4 | 9.64 % |
| Navin Fluorine International Ltd | 42,255 | 53.1 | 21.0 % |
| Aether Industries Ltd | 23,226 | 96.8 | 11.9 % |
| Deepak Nitrite Ltd | 20,854 | 26.3 | 11.4 % |
| Atul Ltd | 17,614 | 22.1 | 14.9 % |
| Aarti Industries Ltd | 17,045 | 32.6 | 6.86 % |
| 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 |
|---|---|---|
| 2026-09-11 | Dividend - Rs 2 Per Share | |
| 2025-09-12 | Dividend - Re 1 Per Share | |
| 2024-09-06 | Dividend - Rs 2 Per Share | |
| 2024-09-06 | Annual General Meeting | |
| 2023-09-08 | Dividend - Rs 2 Per Share | |
| 2023-09-08 | Annual General Meeting | |
| 2022-09-08 | Dividend - Rs 2 Per Share | |
| 2022-09-08 | Annual General Meeting | |
| 2021-09-17 | Annual General Meeting |
No announcements in our files yet.
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.
Long Term Additional Surveillance Measure (Long Term ASM): stage 1Scrip PE is greater than 50 (4 trailing quarters)