Mahickra Chemicals Ltd.

•

mahickra.comBSE: -NSE: MAHICKRA

Market Cap₹ 288 Cr.

Current Price

High / Low₹ 309 / 131

Stock P/E55.9

Book Value₹ 68

Price to Book2.85

Dividend Yield0.05 %

ROCE9.9 %

ROE7.3 %

Face Value₹ 10

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ABOUT

AI Sector View

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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%

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PROS

Company maintains a comfortable, low leverage position

CONS

A large part of profit comes from other income (74.4% of PBT)
Operating cash flow has been negative in recent years
Company has a low return on equity of 7.1% over last 3 years
Company has a low return on capital employed of 9.7%
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.12x)

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

Peer comparison

ChemicalsChemicalsChemicals

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

S.No.	Name
1.	SOLARINDS	21410.70	97.29	193745.54	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1632.00	62.71	166117.97	1.32	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2605.00	35.72	77218.67	0.35	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4691.60	83.80	51537.23	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8697.20	56.51	44623.69	0.17	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1155.90	33.12	38936.61	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1727.25	30.08	23558.49	0.43	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1656.35	93.47	21984.38	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6465.50	23.93	19035.57	0.46	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	501.75	34.27	18199.81	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1356.30	17.46	17179.29	0.74	490.04	100.95	3256.26	22.47	12.12	25.96
12.	MAHICKRA	295.00	55.94	288.39	0.05	—	—	—	—	9.86	—

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	102	103	72	88
	101	101	71	86
Operating Profit	2	2	1	2
OPM %	1.70%	2.20%	0.93%	2.83%
	4	4	2	3
Interest	1	1	1	1
Depreciation	0	1	0	0
Profit before Tax	5	5	2	4
Tax %	27.93%	28.00%	28.53%	28.19%
Net Profit	3	3	1	3
EPS	4.12	4.05	1.32	3.12
Dividend Payout %	15.77%	16.06%	22.70%	6.41%

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: -5%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: -9%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 31%
3 Years:: 54%
1 Year:: 95%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 7%
Last Year:: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	8	8	8	8
	22	24	25	28
	9	10	13	15
Trade Payables	24	20	13	17
	2	1	1	1
Total Liabilities	65	63	61	68
	2	4	5	5
Capital Work in Progress	3	0	1	0
	17	19	23	32
	0	0	23	26
	43	39	9	6
Total Assets	65	63	61	68

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	5	4	-1	-0
Cash from Investing	-1	-1	-1	-0
Cash from Financing	-2	-1	2	0
	-0	0	-0	0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	4.12	4.05	1.32	3.12
Book Value (₹)	36.63	40.01	41.03	43.95
Dividend per Share (₹)	0.65	0.65	0.30	0.20
Cash EPS (₹)	4.43	4.73	1.66	3.49
PROFITABILITY
Operating Margin %	5.55%	5.87%	0.93%	2.83%
Net Margin %	3.27%	3.19%	1.49%	2.87%
ROE %	11.26%	10.56%	3.26%	7.34%
ROCE %	13.63%	13.35%	5.96%	9.86%
	5.14%	5.11%	1.73%	3.92%
EFFICIENCY
Debtor Days	136	133	153	102
Inventory Days	62	65	107	113
Payable Days	98	91	104	71
	101	106	156	144
FINANCIAL HEALTH
Debt to Equity (x)	0.34x	0.31x	0.40x	0.43x
Interest Coverage (x)	6.99x	5.89x	2.29x	3.73x
	1.76x	1.95x	2.03x	1.92x
GROWTH
Revenue Growth %	0.00%	0.72%	-30.20%	22.58%
Operating Profit Growth %	0.00%	6.68%	-51.42%	74.06%
Net Profit Growth %	0.00%	-1.84%	-67.35%	135.98%
	0.00%	0.00%	-67.35%	135.98%
VALUATION
P/E (x)	0.00x	0.00x	92.75x	40.22x
P/B (x)	0.00x	0.00x	2.99x	2.85x
Dividend Yield %	0.00%	0.00%	0.24%	0.16%
	0.00x	0.00x	38.42x	22.88x

Shareholding Pattern

Numbers in percentages

	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	52.18	53.05	53.84	54.95	51.81	48.57	48.27	40.10
	0.59	0.59	0.59	0.59	0.59	0.59	0.00	0.00
DIIs	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
	47.23	46.36	45.57	44.46	47.60	50.84	51.73	59.90

Documents

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

No announcements filed.

News

Recent coverage and analyst commentary for MAHICKRA

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Mahickra Chemicals Ltd.

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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

MAHICKRA

295.00

55.94

288.39

0.05

—

9.86

—

Mar 2022

Mar 2023

Mar 2024

Mar 2025

102

103

101

Operating Profit

OPM %

1.70%

2.20%

0.93%

2.83%

Interest

Depreciation

Profit before Tax

Tax %

27.93%

28.00%

28.53%

28.19%

Net Profit

EPS

4.12

4.05

1.32

3.12

Dividend Payout %

15.77%

16.06%

22.70%

6.41%

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Trade Payables

Total Liabilities

Capital Work in Progress

Total Assets

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-1

-0

Cash from Investing

-1

-0

Cash from Financing

-2

-1

-0

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

4.12

4.05

1.32

3.12

Book Value (₹)

36.63

40.01

41.03

43.95

Dividend per Share (₹)

0.65

0.30

0.20

Cash EPS (₹)

4.43

4.73

1.66

3.49

PROFITABILITY

Operating Margin %

5.55%

5.87%

0.93%

2.83%

Net Margin %

3.27%

3.19%

1.49%

2.87%

ROE %

11.26%

10.56%

3.26%

7.34%

ROCE %

13.63%

13.35%

5.96%

9.86%

5.14%

5.11%

1.73%

3.92%

EFFICIENCY

Debtor Days

136

133

153

102

Inventory Days

107

113

Payable Days

104

101

106

156

144

FINANCIAL HEALTH

Debt to Equity (x)

0.34x

0.31x

0.40x

0.43x

Interest Coverage (x)

6.99x

5.89x

2.29x

3.73x

1.76x

1.95x

2.03x

1.92x

GROWTH

Revenue Growth %

0.00%

0.72%

-30.20%

22.58%

Operating Profit Growth %

0.00%

6.68%

-51.42%

74.06%

Net Profit Growth %

0.00%

-1.84%

-67.35%

135.98%

0.00%

-67.35%

135.98%

VALUATION

P/E (x)

0.00x

92.75x

40.22x

P/B (x)

0.00x

2.99x

2.85x

Dividend Yield %

0.00%

0.24%

0.16%

0.00x

38.42x

22.88x

Sep 2022

Mar 2023

Sep 2023

Mar 2024

Sep 2024

Mar 2025

Sep 2025

Mar 2026

52.18

53.05

53.84

54.95

51.81

48.57

48.27

40.10

0.59

0.00

DIIs

0.00

Government

0.00

47.23

46.36

45.57

44.46

47.60

50.84

51.73

59.90

Mahickra Chemicals Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Mahickra Chemicals 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