Khaitan Chemicals & Fertilizers Ltd.

•

kcfl.co.inBSE: 507794NSE: KHAICHEM

Market Cap₹ 532 Cr.

Current Price

High / Low₹ 136 / 43

Stock P/E9.1

Book Value₹ 31

Price to Book1.44

Dividend Yield0.09 %

ROCE18.6 %

ROE26.8 %

Face Value₹ 1

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Fertilizer & Chemicals: 75.8% • Chemicals & Speciality Chemicals: 24.2%

AI Sector View

AI GENERATED

Chemicals

Hold

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.

Confidence

55%

View full sector analysis →

PROS

Company has delivered good profit growth of 20.6% CAGR over last 5 years
Company has delivered good sales growth of 15.8% CAGR over last 5 years
Company generates healthy free cash flow
Attractively priced for its growth - PEG of 0.4
Company converts assets efficiently - asset turnover of 1.6x

CONS

Company has a low return on equity of 0.0% over last 3 years
Company has a low return on capital employed of 4.5%
Promoter holding has decreased over last 2 years: -2.3pp

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsFertilizers

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	COROMANDEL	1930.70	31.10	56967.41	0.57	381.56	-23.93	8164.77	15.94	23.92	9.26
2.	FACT	800.05	1851.54	51768.99	0.00	-67.90	-948.75	1567.84	65.14	11.30	-2.73
3.	CHAMBLFERT	418.30	8.69	16759.29	2.63	523.60	-4.61	5027.02	-11.77	25.50	16.42
4.	PARADEEP	153.40	14.86	15930.90	0.98	392.54	53.43	6124.25	63.14	15.09	11.76
5.	MBAPL	162.08	45.83	7101.29	0.06	32.96	16.85	416.30	1.61	19.41	15.83
6.	GSFC	161.80	9.31	6447.37	3.09	158.54	14.39	3583.15	64.03	6.16	6.58
7.	RCF	114.50	14.15	6316.83	2.04	73.53	35.09	3585.71	6.38	10.81	6.11
8.	KRISHANA	186.37	29.30	5761.40	0.05	470.95	1440.06	5323.06	1245.78	27.26	16.71
9.	NFL	70.12	9.44	3439.94	1.48	113.38	387.47	4500.39	27.34	9.16	6.87
10.	SPIC	71.05	7.06	1446.86	2.81	60.18	-9.79	848.81	9.22	16.82	9.27
11.	MADRASFERT	65.43	14.86	1054.09	0.00	345.90	685.07	8140.10	1111.18	27.70	6.46
12.	KHAICHEM	54.82	9.13	531.69	0.09	10.91	-49.02	220.94	-5.71	18.56	10.67

Detailed Comparison with:

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
	164	193	127	51	130	231	199	161	234	309	266	193	221
	163	183	142	78	137	222	188	150	203	278	233	175	208
Operating Profit	1	10	-15	-28	-7	9	11	11	32	31	33	18	13
OPM %	0.53%	5.43%	-11.52%	-54.12%	-5.28%	3.73%	5.41%	6.58%	13.53%	10.08%	12.25%	9.14%	5.66%
	0	1	1	-0	0	0	0	0	0	0	0	1	1
Interest	7	8	9	9	7	8	7	7	8	8	9	8	8
Depreciation	3	3	3	3	3	3	3	2	2	2	3	2	3
Profit before Tax	-8	1	-25	-39	-17	-2	1	1	21	22	21	8	13
Tax %	20.21%	81.36%	-6.90%	5.03%	-0.00%	-71.51%	-1207.29%	-729.81%	-0.47%	0.19%	0.68%	34.66%	17.25%
Net Profit	-7	0	-27	-37	-17	-3	13	9	21	21	20	5	11
	-0.70	0.01	-2.78	-3.86	-1.72	-0.32	1.29	0.89	2.21	2.21	2.11	0.56	1.13

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
	359	353	373	437	481	824	888	536	720	1,002	988
	320	317	330	391	419	702	810	566	697	889	894
Operating Profit	38	36	43	46	61	122	78	-30	23	113	94
OPM %	10.66%	10.22%	11.49%	10.57%	12.77%	14.77%	8.82%	-5.61%	3.21%	11.28%	9.49%
	3	1	1	2	1	1	1	2	1	2	2
Interest	31	26	22	18	14	13	20	32	30	33	33
Depreciation	8	9	9	9	7	7	9	12	11	10	10
Profit before Tax	2	2	13	22	42	103	51	-72	-16	72	64
Tax %	21.72%	32.14%	37.19%	30.05%	35.49%	22.08%	26.79%	1.91%	108.48%	4.14%	8.39%
Net Profit	2	2	8	15	27	80	37	-70	1	69	58
EPS	0.00	0.00	0.00	0.00	2.56	8.20	4.34	-7.27	0.14	7.09	—
Dividend Payout %	29.26%	29.53%	6.14%	12.86%	9.00%	3.63%	7.79%	0.00%	0.00%	0.71%	—

COMPOUNDED SALES GROWTH

10 Years:: 10%
5 Years:: 16%
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: 44%
5 Years:: 19%
3 Years:: 20%

STOCK PRICE CAGR

10 Years:: —
5 Years:: -3%
3 Years:: -7%
1 Year:: -56%

RETURN ON EQUITY

10 Years:: 9%
5 Years:: 10%
3 Years:: 0%
Last Year:: 27%

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	10	10	10	10	10	10	10	10	10	10
	119	121	128	143	165	243	284	211	213	281
	240	203	138	141	80	142	227	307	312	299
Trade Payables	39	39	51	52	48	99	118	52	42	55
	30	19	26	45	53	78	68	43	36	33
Total Liabilities	438	391	353	391	354	571	707	623	612	678
	118	114	108	102	100	102	129	132	127	118
Capital Work in Progress	2	1	0	0	0	5	3	2	1	3
	1	1	2	1	2	3	3	4	5	7
	101	75	89	113	112	209	252	283	217	223
	0	0	0	0	0	0	0	49	72	62
Cash & Bank	8	5	7	5	6	60	16	4	16	14
	207	195	147	168	134	191	302	150	174	250
Total Assets	438	391	353	391	354	571	707	623	612	678

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
	31	65	95	19	92	55	-78	-55	44	44
Cash from Investing	-9	0	-4	1	-6	-20	-22	2	-17	-4
Cash from Financing	-23	-65	-88	-17	-79	40	63	53	-27	-40
	-0	-0	0	0	-0	47	-47	-0	0	-0

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 (₹)	0.17	0.17	0.81	1.55	2.78	8.27	3.85	-7.27	0.14	7.09
Book Value (₹)	13.31	13.44	14.24	15.78	17.96	26.01	30.29	22.73	22.95	29.97
Dividend per Share (₹)	0.05	0.05	0.05	0.20	0.25	0.30	0.30	0.00	0.00	0.05
Cash EPS (₹)	1.02	1.07	1.72	2.43	3.46	9.02	4.79	-6.08	1.24	8.11
PROFITABILITY
Operating Margin %	11.40%	10.58%	11.70%	11.09%	12.88%	14.92%	8.99%	-5.61%	3.21%	11.28%
Net Margin %	0.45%	0.46%	2.12%	3.45%	5.60%	9.73%	4.21%	-13.15%	0.19%	6.86%
ROE %	1.29%	1.27%	5.88%	10.36%	16.47%	37.60%	13.68%	-27.41%	0.63%	26.79%
ROCE %	9.16%	8.24%	11.47%	14.09%	20.33%	36.09%	15.67%	-7.67%	2.51%	18.56%
	0.40%	0.40%	2.12%	4.06%	7.23%	17.33%	5.85%	-10.60%	0.23%	10.67%
EFFICIENCY
Debtor Days	93	98	77	47	37	18	21	39	31	25
Inventory Days	83	90	80	84	85	71	95	182	127	80
Payable Days	57	66	74	73	69	55	68	77	34	28
	119	122	83	58	54	34	48	144	123	77
FINANCIAL HEALTH
Debt to Equity (x)	1.85x	1.55x	0.99x	0.91x	0.45x	0.54x	0.75x	1.40x	1.41x	1.04x
Interest Coverage (x)	1.07x	1.09x	1.57x	2.17x	4.07x	9.10x	3.59x	-1.26x	0.45x	3.18x
	1.23x	1.27x	1.36x	1.37x	1.73x	1.50x	1.51x	1.30x	1.32x	1.48x
GROWTH
Revenue Growth %	-8.57%	-1.53%	5.48%	17.31%	10.00%	71.32%	7.77%	-39.64%	34.40%	39.08%
Operating Profit Growth %	-0.47%	-9.58%	16.02%	11.24%	27.76%	98.51%	-35.10%	-135.75%	184.00%	378.02%
Net Profit Growth %	0.05%	-0.93%	380.90%	90.96%	78.68%	197.52%	-53.40%	-288.69%	101.98%	4814.55%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-288.69%	101.99%	4812.96%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	320.79x	6.10x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.83x	2.02x	1.44x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.12%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	-32.55x	31.12x	6.17x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.99	72.52	72.52	72.52	72.55	72.58	72.65	72.65	72.65
	0.09	0.08	0.08	0.16	0.48	0.79	0.32	0.35	0.11
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	24.90	27.39	27.39	27.31	26.96	26.62	27.02	27.01	27.24

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-19

Credit Rating- Revision

2026-08-19 - Khaitan Chemicals & Fertilizers Limited has informed the Exchange about Credit Rating- Revision

2026-07-22

Shareholders meeting

2026-07-22 - Khaitan Chemicals & Fertilizers Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 21, 2026. Further, the company has informed the Exchange regarding voting results.

2026-07-21

Appointment

2026-07-21 - Khaitan Chemicals & Fertilizers Limited has informed the Exchange that the members of the Company at its Meeting held on 21st July, 2026 approved re-appointment of Mr Utsav Khaitan as joint Managing Director of the company w.e.f. May 01, 2026.

2026-07-21

Shareholders meeting

2026-07-21 - Khaitan Chemicals & Fertilizers Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 21, 2026

2026-07-14

Copy of Newspaper Publication

2026-07-14 - Khaitan Chemicals & Fertilizers Limited has informed the Exchange about Copy of Newspaper Publication of Unaudited Financial Results for the quarter ended June 30, 2026.

2026-07-13

Updates

2026-07-13 - Khaitan Chemicals & Fertilizers Limited has informed the Exchange regarding 'Comments of the Board Members for the fine levied for non-compliance / delayed complianceunder Regulation 29(2)/29(3) of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015'.

2026-07-13

Outcome of Board Meeting

2026-07-13 - Khaitan Chemicals & Fertilizers Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-08

General Updates

2026-07-08 - Khaitan Chemicals & Fertilizers Limited has informed the Exchange about disclosure regarding the notice imposing penalty passed against the Khaitan Chemicals & Fertilizers Limited

2026-07-07

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-07 - Khaitan Chemicals & Fertilizers Limited has informed the Exchange about Certificate under Regulation 74 (5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended June 30, 2026.

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Recent coverage and analyst commentary for KHAICHEM

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Name

COROMANDEL

1930.70

31.10

56967.41

0.57

381.56

-23.93

8164.77

15.94

23.92

9.26

FACT

800.05

1851.54

51768.99

0.00

-67.90

-948.75

1567.84

65.14

11.30

-2.73

CHAMBLFERT

418.30

8.69

16759.29

2.63

523.60

-4.61

5027.02

-11.77

25.50

16.42

PARADEEP

153.40

14.86

15930.90

0.98

392.54

53.43

6124.25

63.14

15.09

11.76

MBAPL

162.08

45.83

7101.29

0.06

32.96

16.85

416.30

1.61

19.41

15.83

GSFC

161.80

9.31

6447.37

3.09

158.54

14.39

3583.15

64.03

6.16

6.58

RCF

114.50

14.15

6316.83

2.04

73.53

35.09

3585.71

6.38

10.81

6.11

KRISHANA

186.37

29.30

5761.40

0.05

470.95

1440.06

5323.06

1245.78

27.26

16.71

NFL

70.12

9.44

3439.94

1.48

113.38

387.47

4500.39

27.34

9.16

6.87

SPIC

71.05

7.06

1446.86

2.81

60.18

-9.79

848.81

9.22

16.82

9.27

MADRASFERT

65.43

14.86

1054.09

0.00

345.90

685.07

8140.10

1111.18

27.70

6.46

KHAICHEM

54.82

9.13

531.69

0.09

10.91

-49.02

220.94

-5.71

18.56

10.67

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

164

193

127

130

231

199

161

234

309

266

193

221

163

183

142

137

222

188

150

203

278

233

175

208

Operating Profit

-15

-28

-7

OPM %

0.53%

5.43%

-11.52%

-54.12%

-5.28%

3.73%

5.41%

6.58%

13.53%

10.08%

12.25%

9.14%

5.66%

-0

Interest

Depreciation

Profit before Tax

-8

-25

-39

-17

-2

Tax %

20.21%

81.36%

-6.90%

5.03%

-0.00%

-71.51%

-1207.29%

-729.81%

-0.47%

0.19%

0.68%

34.66%

17.25%

Net Profit

-7

-27

-37

-17

-3

-0.70

0.01

-2.78

-3.86

-1.72

-0.32

1.29

0.89

2.21

2.11

0.56

1.13

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

359

353

373

437

481

824

888

536

720

1,002

988

320

317

330

391

419

702

810

566

697

889

894

Operating Profit

122

-30

113

OPM %

10.66%

10.22%

11.49%

10.57%

12.77%

14.77%

8.82%

-5.61%

3.21%

11.28%

9.49%

Interest

Depreciation

Profit before Tax

103

-72

-16

Tax %

21.72%

32.14%

37.19%

30.05%

35.49%

22.08%

26.79%

1.91%

108.48%

4.14%

8.39%

Net Profit

-70

EPS

0.00

2.56

8.20

4.34

-7.27

0.14

7.09

—

Dividend Payout %

29.26%

29.53%

6.14%

12.86%

9.00%

3.63%

7.79%

0.00%

0.71%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

119

121

128

143

165

243

284

211

213

281

240

203

138

141

142

227

307

312

299

Trade Payables

118

Total Liabilities

438

391

353

391

354

571

707

623

612

678

118

114

108

102

100

102

129

132

127

118

Capital Work in Progress

101

113

112

209

252

283

217

223

Cash & Bank

207

195

147

168

134

191

302

150

174

250

Total Assets

438

391

353

391

354

571

707

623

612

678

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-78

-55

Cash from Investing

-9

-4

-6

-20

-22

-17

-4

Cash from Financing

-23

-65

-88

-17

-79

-27

-40

-0

-47

-0

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

0.17

0.81

1.55

2.78

8.27

3.85

-7.27

0.14

7.09

Book Value (₹)

13.31

13.44

14.24

15.78

17.96

26.01

30.29

22.73

22.95

29.97

Dividend per Share (₹)

0.05

0.20

0.25

0.30

0.00

0.05

Cash EPS (₹)

1.02

1.07

1.72

2.43

3.46

9.02

4.79

-6.08

1.24

8.11

PROFITABILITY

Operating Margin %

11.40%

10.58%

11.70%

11.09%

12.88%

14.92%

8.99%

-5.61%

3.21%

11.28%

Net Margin %

0.45%

0.46%

2.12%

3.45%

5.60%

9.73%

4.21%

-13.15%

0.19%

6.86%

ROE %

1.29%

1.27%

5.88%

10.36%

16.47%

37.60%

13.68%

-27.41%

0.63%

26.79%

ROCE %

9.16%

8.24%

11.47%

14.09%

20.33%

36.09%

15.67%

-7.67%

2.51%

18.56%

0.40%

2.12%

4.06%

7.23%

17.33%

5.85%

-10.60%

0.23%

10.67%

EFFICIENCY

Debtor Days

Inventory Days

182

127

Payable Days

119

122

144

123

FINANCIAL HEALTH

Debt to Equity (x)

1.85x

1.55x

0.99x

0.91x

0.45x

0.54x

0.75x

1.40x

1.41x

1.04x

Interest Coverage (x)

1.07x

1.09x

1.57x

2.17x

4.07x

9.10x

3.59x

-1.26x

0.45x

3.18x

1.23x

1.27x

1.36x

1.37x

1.73x

1.50x

1.51x

1.30x

1.32x

1.48x

GROWTH

Revenue Growth %

-8.57%

-1.53%

5.48%

17.31%

10.00%

71.32%

7.77%

-39.64%

34.40%

39.08%

Operating Profit Growth %

-0.47%

-9.58%

16.02%

11.24%

27.76%

98.51%

-35.10%

-135.75%

184.00%

378.02%

Net Profit Growth %

0.05%

-0.93%

380.90%

90.96%

78.68%

197.52%

-53.40%

-288.69%

101.98%

4814.55%

0.00%

-288.69%

101.99%

4812.96%

VALUATION

P/E (x)

0.00x

320.79x

6.10x

P/B (x)

0.00x

2.83x

2.02x

1.44x

Dividend Yield %

0.00%

0.12%

0.00x

-32.55x

31.12x

6.17x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

74.99

72.52

72.55

72.58

72.65

0.09

0.08

0.16

0.48

0.79

0.32

0.35

0.11

DIIs

0.00

Government

0.00

24.90

27.39

27.31

26.96

26.62

27.02

27.01

27.24

Khaitan Chemicals & Fertilizers Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

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Khaitan Chemicals & Fertilizers Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI