Hindcon Chemicals Ltd.
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ABOUT
AI Sector View
AI GENERATEDChemicals
The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.
PROS
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 72.7% YoY, showing strong momentum
- Company comfortably covers its interest (10.2x coverage)
- Company maintains a comfortable, low leverage position
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (51.0% of PBT)
- Company has a low return on equity of 8.8% over last 3 years
- Company has delivered a poor profit growth of -8.4% over past five years
- Company has delivered a poor sales growth of 8.0% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 20550.00 | 93.38 | 185957.06 | 0.05 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1636.40 | 62.88 | 166565.83 | 1.31 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2597.00 | 35.61 | 76981.53 | 0.35 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4731.25 | 84.51 | 51972.78 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8538.25 | 55.47 | 43808.15 | 0.18 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1138.55 | 32.62 | 38352.18 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| DEEPAKNTR | 1733.65 | 30.19 | 23645.78 | 0.43 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| AETHER | 1646.05 | 92.89 | 21847.67 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| ATUL | 6484.40 | 24.00 | 19091.21 | 0.46 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| AARTIIND | 505.45 | 34.53 | 18334.02 | 0.20 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| DEEPAKFERT | 1417.10 | 18.24 | 17949.40 | 0.71 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| HINDCON | 23.16 | 27.41 | 118.56 | 0.00 | 2.34 | 72.75 | 21.29 | 43.08 | 7.95 | 14.36 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 17 | 19 | 13 | 14 | 13 | 13 | 15 | 15 | 15 | 15 | 14 | 21 | 21 | |
| 14 | 18 | 12 | 13 | 11 | 13 | 14 | 14 | 13 | 15 | 14 | 20 | 19 | |
| Operating Profit | 3 | 1 | 1 | 2 | 2 | 0 | 1 | 1 | 2 | 1 | 0 | 1 | 3 |
| OPM % | 17.89% | 5.29% | 8.85% | 12.48% | 13.39% | 1.93% | 7.92% | 6.74% | 11.42% | 4.90% | 2.18% | 4.37% | 14.36% |
| Other Income | 0 | 0 | 0 | 1 | 0 | 1 | 1 | -0 | 0 | 1 | 1 | 1 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 | 1 | 1 | 2 | 2 | 1 | 2 | 1 | 2 | 1 | 0 | 1 | 3 | |
| Tax % | 25.66% | 29.03% | 27.34% | 21.30% | 30.69% | 23.38% | 25.81% | 22.54% | 28.19% | 25.77% | 44.19% | 31.53% | 28.81% |
| Net Profit | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 2 |
| 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Equity Capital | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 34 | 35 | 45 | 44 | 44 | 67 | 86 | 65 | 57 | 65 | 71 | |
| 30 | 31 | 41 | 41 | 40 | 62 | 80 | 57 | 52 | 61 | 67 | |
| Operating Profit | 4 | 6 | 4 | 5 | 7 | 6 | 6 | 9 | 6 | 6 | — |
| OPM % | 12 | 18 | 10 | 10 | 15 | 10 | 7 | 14 | 11 | 9 | — |
| Other Income | 0 | 2 | 1 | 1 | 2 | 1 | 1 | 2 | 2 | 2 | 2 |
| Interest | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| 3 | 6 | 4 | 4 | 6 | 6 | 6 | 8 | 5 | 4 | 6 | |
| Tax % | 33 | 20 | 28 | 33 | 26 | 30 | 28 | 25 | 27 | 30 | 30 |
| Net Profit | 2 | 5 | 3 | 3 | 5 | 4 | 4 | 6 | 4 | 3 | 4 |
| EPS | 0 | 0 | 0 | 4 | 6 | 6 | 6 | 2 | 1 | 1 | — |
| Dividend Payout % | 0 | 0 | 16 | 24 | 24 | 31 | 0 | 12 | 0 | 0 | — |
| Minority Interest | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | -0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 8%
- 5 Years:
- 8%
- 3 Years:
- -9%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 14%
- 5 Years:
- -7%
- 3 Years:
- -9%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 14%
- 3 Years:
- -5%
- 1 Year:
- -26%
RETURN ON EQUITY
- 10 Years:
- 12%
- 5 Years:
- 10%
- 3 Years:
- 9%
- Last Year:
- 6%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 1 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| 14 | 20 | 22 | 25 | 28 | 31 | 35 | 42 | 46 | 49 | |
| 5 | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 1 | 11 | |
| Trade Payables | 3 | 4 | 4 | 5 | 5 | 8 | 7 | 5 | 5 | 5 |
| 3 | 3 | 2 | 2 | 2 | 4 | 2 | 4 | 3 | 3 | |
| Total Liabilities | 26 | 35 | 36 | 39 | 43 | 52 | 53 | 59 | 63 | 76 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 1 | 1 | 1 | 1 | 1 | 2 | 3 | 6 | 7 | 9 | |
| 1 | 3 | 4 | 4 | 3 | 3 | 2 | 5 | 5 | 4 | |
| 1 | 3 | 3 | 2 | 2 | 4 | 3 | 2 | 2 | 7 | |
| 0 | 0 | 0 | 0 | 0 | 26 | 26 | 22 | 22 | 23 | |
| Cash & Bank | 1 | 4 | 1 | 3 | 10 | 5 | 10 | 12 | 14 | 19 |
| 22 | 23 | 27 | 29 | 26 | 12 | 8 | 13 | 14 | 15 | |
| Total Assets | 26 | 35 | 36 | 39 | 43 | 52 | 53 | 59 | 63 | 76 |
| Total Debt | 5 | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 1 | 11 |
| Net Working Capital | 13 | 22 | 24 | 27 | 30 | 33 | 37 | 34 | 37 | 44 |
| Contingent Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Book Value per Share | 176.56 | 35.51 | 39.22 | 42.15 | 46.21 | 51.01 | 55.20 | 13.02 | 14.08 | 14.82 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 2.00 | 2.00 | 2.00 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | -2 | 2 | 5 | -4 | 5 | 9 | 3 | -4 | |
| Cash from Investing | 0 | -1 | -0 | 0 | 1 | 2 | 1 | -6 | -6 | -5 |
| Cash from Financing | -1 | 2 | -1 | -0 | -0 | -2 | -1 | -1 | 0 | 10 |
| 0 | 3 | -3 | 2 | 6 | -4 | 5 | 1 | -3 | 1 | |
| Free Cash Flow | 0 | 2 | -2 | 2 | 4 | -5 | 4 | 6 | 1 | -7 |
| OCF / Net Profit | 0.33 | 0.37 | -0.70 | 0.74 | 1.00 | -1.04 | 1.23 | 1.47 | 0.72 | -1.27 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 7 | 1 | 3 | 11 | 10 | -1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 24.27 | 6.05 | 3.68 | 3.71 | 6.13 | 5.51 | 5.63 | 1.61 | 0.99 | 0.84 |
| Book Value (₹) | 176.56 | 35.51 | 39.22 | 42.15 | 46.21 | 51.01 | 55.20 | 13.02 | 14.08 | 14.82 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.60 | 0.90 | 1.50 | 1.70 | 0.00 | 0.20 | 0.00 | 0.00 |
| Cash EPS (₹) | 1.07 | 1.26 | 0.78 | 0.78 | 1.29 | 1.18 | 1.21 | 1.72 | 1.21 | 1.06 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 10.77% | 17.95% | 9.70% | 10.22% | 15.18% | 7.46% | 6.05% | 11.00% | 7.48% | 5.62% |
| Net Margin % | 5.70% | 12.90% | 6.39% | 6.46% | 10.78% | 6.40% | 5.09% | 9.66% | 6.77% | 4.74% |
| ROE % | 15.32% | 22.07% | 9.92% | 9.16% | 14.08% | 11.43% | 10.69% | 13.50% | 7.37% | 5.55% |
| ROCE % | 20.08% | 26.37% | 14.34% | 13.94% | 18.92% | 15.92% | 14.51% | 18.07% | 10.13% | 7.95% |
| 8.43% | 15.38% | 8.04% | 7.59% | 11.63% | 8.98% | 8.28% | 11.13% | 6.27% | 4.43% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 182 | 186 | 155 | 162 | 161 | 125 | 112 | 137 | 141 | 124 |
| Inventory Days | 10 | 19 | 23 | 20 | 17 | 15 | 15 | 14 | 11 | 25 |
| Payable Days | 56 | 53 | 39 | 47 | 52 | 43 | 40 | 50 | 49 | 39 |
| 136 | 152 | 138 | 135 | 126 | 97 | 87 | 100 | 104 | 109 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.33x | 0.03x | 0.01x | 0.01x | 0.03x | 0.03x | 0.02x | 0.00x | 0.01x | 0.19x |
| Interest Coverage (x) | 5.65x | 12.09x | 18.06x | 49.09x | 77.78x | 272.92x | 120.74x | 111.46x | 68.70x | 10.20x |
| 2.20x | 3.95x | 5.16x | 5.09x | 4.81x | 3.56x | 4.56x | 4.95x | 5.36x | 3.46x | |
| GROWTH | ||||||||||
| Revenue Growth % | 7.68% | 3.97% | 26.15% | -0.55% | -0.02% | 50.48% | 28.48% | -24.63% | -12.28% | 14.90% |
| Operating Profit Growth % | 75.73% | 63.96% | -33.51% | 4.74% | 48.53% | -5.24% | -0.10% | 38.05% | -30.26% | -3.71% |
| Net Profit Growth % | 147.62% | 122.66% | -39.08% | 0.53% | 66.88% | -10.69% | 2.18% | 43.07% | -38.54% | -19.55% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -10.07% | 2.16% | -71.38% | -38.51% | -15.30% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 2.53x | 2.81x | 32.31x | 32.40x | 19.96x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.36x | 1.43x | 4.00x | 2.28x | 1.13x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.44% | 0.00% | 0.38% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 7.73x | 8.07x | 21.40x | 17.95x | 9.56x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-20 - Hindcon Chemicals Limited has informed the Exchange Outcome and a copy Srutinizers report of Annual General Meeting held on August 20, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-20 - Hindcon Chemicals Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 20, 2026.
2026-08-13 - Hindcon Chemicals Limited has informed the Exchange about Copy of Newspaper Publication for approval of Un-Audited Financial Results for the quarter ended 30th June, 2026.
2026-08-12 - Hindcon Chemicals Limited has submitted to the Exchange, the Un-Audited Financial Results for the quarter ended Jun 30, 2026.
2026-07-28 - Hindcon Chemicals Limited has informed the Exchange about Copy of Newspaper Publication regarding Notice to the Members for the Annual General Meeting (AGM) to be held on 20th August, 2026.
2026-07-28 - Hindcon Chemicals Limited has informed the Exchange about completion of Despatch of AGM Notice and Annual Report to the members of the Company.
2026-07-27 - Hindcon Chemicals Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 20, 2026
2026-07-27 - Hindcon Chemicals Limited has informed the Exchange regarding 'Intimation of Book Closure pursuant to Regulation 42 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
2026-07-27 - Hindcon Chemicals Limited has informed the Exchange regarding 'Annual Report of the Company for the FY 2025-26'.
News
Recent coverage and analyst commentary for HINDCON
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