Kanoria Chemicals & Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2024 • Alco Chemicals: 99.7% • Solar Power: 0.3%
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
- Latest quarter profit grew 664.7% YoY, showing strong momentum
- Company has delivered good sales growth of 17.7% CAGR over last 5 years
- Attractively priced for its growth - PEG of 0.1
- Company maintains a comfortable, low leverage position
CONS
- A large part of profit comes from other income (101.2% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -57.89x)
- Company has a low return on equity of -0.1% over last 3 years
- Company has a low return on capital employed of 2.1%
- Effective tax rate is unusually low at -20.0% - earnings may be flattered
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 21410.70 | 97.29 | 193745.54 | 0.05 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1632.00 | 62.71 | 166117.97 | 1.32 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2605.00 | 35.72 | 77218.67 | 0.35 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4691.60 | 83.80 | 51537.23 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8697.20 | 56.51 | 44623.69 | 0.17 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1155.90 | 33.12 | 38936.61 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| DEEPAKNTR | 1727.25 | 30.08 | 23558.49 | 0.43 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| AETHER | 1656.35 | 93.47 | 21984.38 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| ATUL | 6465.50 | 23.93 | 19035.57 | 0.46 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| AARTIIND | 501.75 | 34.27 | 18199.81 | 0.20 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| DEEPAKFERT | 1356.30 | 17.46 | 17179.29 | 0.74 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| KANORICHEM | 156.00 | 4.40 | 681.62 | 0.00 | 26.36 | 291.29 | 460.37 | 1.45 | 5.93 | 9.78 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 153 | 142 | 134 | 147 | 162 | 161 | 162 | 193 | 187 | 191 | 231 | 267 | 430 | |
| 154 | 139 | 135 | 143 | 155 | 150 | 154 | 180 | 175 | 177 | 217 | 251 | 404 | |
| Operating Profit | -1 | 3 | -1 | 5 | 7 | 11 | 8 | 14 | 11 | 13 | 13 | 17 | 26 |
| OPM % | -0.37% | 2.07% | -0.45% | 3.17% | 4.03% | 6.92% | 5.03% | 6.99% | 6.08% | 7.05% | 5.73% | 6.24% | 6.10% |
| 16 | 2 | 7 | 1 | 2 | 4 | -16 | -21 | -3 | 8 | 3 | 8 | 9 | |
| Interest | 3 | 3 | 3 | 3 | 3 | 4 | 5 | 4 | 4 | 6 | 4 | 5 | 5 |
| Depreciation | 5 | 5 | 5 | 5 | 4 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 6 |
| Profit before Tax | 8 | -3 | -1 | -2 | 1 | 7 | -18 | -17 | -1 | 10 | 6 | 14 | 35 |
| Tax % | 16.76% | 19.00% | -117.43% | 163.46% | 54.69% | 106.72% | -9.51% | -10.72% | -243.38% | 34.28% | 35.68% | -104.21% | 25.19% |
| Net Profit | 6 | -2 | -2 | 1 | 1 | -0 | -20 | -19 | -5 | 6 | 4 | 29 | 26 |
| 0.87 | -0.56 | -0.67 | 0.17 | 0.13 | -0.10 | -4.51 | -4.42 | -1.07 | 1.49 | 0.90 | 6.56 | 6.03 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 296 | 339 | 448 | 360 | 388 | 649 | 675 | 577 | 678 | 875 | 1,119 | |
| 267 | 326 | 421 | 354 | 364 | 590 | 661 | 570 | 640 | 823 | 1,049 | |
| Operating Profit | 29 | 13 | 27 | 5 | 24 | 59 | 14 | 6 | 38 | 53 | 70 |
| OPM % | 9.65% | 3.89% | 5.94% | 1.52% | 6.26% | 9.12% | 2.14% | 1.12% | 5.60% | 6.01% | 6.22% |
| 4 | 23 | 12 | 21 | 5 | 11 | 25 | 25 | -29 | 18 | 28 | |
| Interest | 3 | 7 | 6 | 12 | 12 | 9 | 10 | 12 | 16 | 19 | 20 |
| Depreciation | 20 | 21 | 20 | 21 | 22 | 21 | 21 | 18 | 20 | 23 | 23 |
| Profit before Tax | 9 | 8 | 12 | -6 | -5 | 40 | 9 | 2 | -27 | 29 | 65 |
| Tax % | -105.74% | 32.05% | 26.37% | 87.30% | 27.08% | 37.70% | 33.57% | -30.31% | -41.65% | -20.02% | -0.26% |
| Net Profit | 19 | 6 | 9 | -1 | -4 | 25 | 6 | 2 | -39 | 34 | 65 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -0.84 | 5.72 | 1.36 | 0.56 | -8.90 | 7.88 | — |
| Dividend Payout % | 35.01% | 117.04% | 38.25% | 0.00% | 0.00% | 17.49% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 11%
- 5 Years:
- 18%
- 3 Years:
- 9%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 7%
- 5 Years:
- —
- 3 Years:
- 80%
STOCK PRICE CAGR
- 10 Years:
- 9%
- 5 Years:
- -1%
- 3 Years:
- 5%
- 1 Year:
- 89%
RETURN ON EQUITY
- 10 Years:
- 1%
- 5 Years:
- 1%
- 3 Years:
- 0%
- Last Year:
- 6%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 |
| 593 | 588 | 601 | 595 | 592 | 617 | 619 | 617 | 579 | 616 | |
| 118 | 102 | 122 | 145 | 124 | 97 | 124 | 125 | 164 | 161 | |
| Trade Payables | 25 | 47 | 44 | 67 | 62 | 86 | 63 | 81 | 80 | 123 |
| 69 | 67 | 74 | 67 | 69 | 79 | 80 | 99 | 141 | 129 | |
| Total Liabilities | 827 | 826 | 863 | 896 | 869 | 901 | 907 | 944 | 986 | 1,051 |
| 362 | 404 | 392 | 422 | 404 | 400 | 405 | 380 | 423 | 438 | |
| Capital Work in Progress | 27 | 7 | 34 | 11 | 13 | 5 | 0 | 32 | 14 | 26 |
| 184 | 145 | 171 | 149 | 143 | 209 | 218 | 210 | 163 | 183 | |
| 32 | 42 | 28 | 54 | 44 | 52 | 53 | 56 | 59 | 75 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 78 | 106 | 132 | |
| Cash & Bank | 38 | 37 | 29 | 18 | 2 | 5 | 0 | 1 | 2 | 6 |
| 185 | 191 | 209 | 242 | 262 | 230 | 231 | 188 | 219 | 191 | |
| Total Assets | 827 | 826 | 863 | 896 | 869 | 901 | 907 | 944 | 986 | 1,051 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 31 | 44 | 10 | 18 | 50 | 29 | 26 | 17 | 74 | |
| Cash from Investing | 7 | 5 | -44 | -16 | 8 | -10 | -42 | -33 | -53 | -35 |
| Cash from Financing | -17 | -32 | 6 | 6 | -33 | -37 | 14 | 7 | 38 | -34 |
| -4 | 2 | 3 | 3 | -7 | 3 | -4 | -0 | 2 | 4 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 4.28 | 1.28 | 1.96 | -0.19 | -0.84 | 5.72 | 1.36 | 0.56 | -8.90 | 7.88 |
| Book Value (₹) | 140.61 | 139.54 | 142.56 | 141.15 | 140.46 | 146.19 | 146.58 | 146.31 | 137.60 | 146.05 |
| Dividend per Share (₹) | 1.50 | 1.50 | 0.75 | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 8.96 | 6.13 | 6.55 | 4.65 | 4.23 | 10.55 | 6.21 | 4.74 | -4.33 | 13.10 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 15.64% | 10.52% | 9.14% | 7.47% | 8.60% | 10.84% | 5.87% | 1.12% | 5.60% | 6.01% |
| Net Margin % | 5.72% | 1.61% | 1.91% | -0.23% | -0.95% | 3.85% | 0.88% | 0.43% | -5.73% | 3.93% |
| ROE % | 3.07% | 0.91% | 1.39% | -0.13% | -0.60% | 3.99% | 0.93% | 0.38% | -6.27% | 5.55% |
| ROCE % | 1.70% | 2.12% | 2.48% | 0.76% | 0.99% | 6.68% | 2.46% | 1.73% | -1.44% | 5.94% |
| 2.26% | 0.68% | 1.01% | -0.09% | -0.42% | 2.82% | 0.66% | 0.27% | -4.03% | 3.38% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 54 | 57 | 47 | 63 | 68 | 56 | 54 | 52 | 49 | 50 |
| Inventory Days | 33 | 39 | 28 | 42 | 46 | 27 | 28 | 34 | 31 | 28 |
| Payable Days | 42 | 55 | 51 | 81 | 87 | 57 | 52 | 60 | 59 | 57 |
| 44 | 41 | 25 | 24 | 28 | 25 | 30 | 27 | 21 | 21 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.19x | 0.17x | 0.20x | 0.23x | 0.20x | 0.15x | 0.19x | 0.22x | 0.33x | 0.29x |
| Interest Coverage (x) | 3.79x | 2.17x | 2.81x | 0.47x | 0.60x | 5.39x | 1.94x | 1.16x | -0.71x | 2.47x |
| 1.45x | 1.36x | 1.22x | 1.13x | 1.25x | 1.42x | 1.41x | 1.10x | 0.91x | 1.02x | |
| GROWTH | ||||||||||
| Revenue Growth % | -0.44% | 14.57% | 32.10% | -19.61% | 7.84% | 67.32% | 4.02% | -14.57% | 17.59% | 29.05% |
| Operating Profit Growth % | -5.32% | -28.76% | 12.12% | -34.34% | 24.22% | 110.86% | -43.69% | -20.01% | 69.05% | 52.25% |
| Net Profit Growth % | 10.20% | -70.09% | 53.00% | -109.52% | -349.39% | 781.37% | -76.28% | -58.58% | -1683.63% | 188.51% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -58.58% | -1683.52% | 188.51% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 188.38x | 0.00x | 7.12x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.72x | 0.54x | 0.38x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 19.09x | 9.71x | 5.17x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-03 - Kanoria Chemicals & Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 02, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-02 - AGM Presentation
2026-09-02 - Kanoria Chemicals & Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 02, 2026
2026-08-12 - The newspapers publication of the Statement of Unaudited Financial Results (Standalone & Consolidated) for the quarter ended 30th June 2026 .
2026-08-11 - Kanoria Chemicals & Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-07 - Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed copies of advertisement published in the Newspapers viz., Financial Express (English) & Ek Din (Bengali) informing about the 66th Annual General Meeting of the Company, details relating to e-voting facility and other related details.
2026-08-06 - Kanoria Chemicals & Industries Limited has informed the Exchange regarding 'In compliance with Regulation 36(1)(b) of the Listing Regulations, please find enclosed herewith the letter sent by the Company to those shareholders, whose email address are not registered with the Company / Depository /MUFG Intime India Private Limited, Registrar & Share Transfer Agent of the Company, providing the web-link and exact path of the Company's website where the Annual Report for the Financial Year 2025-26 can be accessed.'.
2026-08-06 - Kanoria Chemicals & Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 02, 2026
2026-07-09 - Kanoria Chemicals & Industries Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
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