Vinyl Chemicals (India) Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Vinyl Acetate Monomer: 96.9% • Other Operating Revenue: 3.1%
AI Sector View
AI GENERATEDOil Gas & Consumable Fuels
Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 22.6%
- Latest quarter profit grew 48.8% YoY, showing strong momentum
- Company comfortably covers its interest (275.9x coverage)
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (50.5% of PBT)
- Recent results are weak - TTM profit is down 11.9% versus prior year
- Company has delivered a poor profit growth of 7.8% over past five years
- Operating margins have contracted to 1.7% from 4.8%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIENT | 3057.10 | 55.59 | 413846.54 | 0.04 | -1461.54 | -249.67 | 32923.98 | 49.92 | 13.30 | 15.57 |
| AEGISLOG | 1353.10 | 37.96 | 47493.81 | 0.64 | 544.84 | 210.70 | 2356.86 | 37.07 | 19.76 | 30.28 |
| CPPLUS | 3830.15 | 94.94 | 45310.84 | 0.04 | 142.20 | 332.51 | 1402.42 | 89.51 | 29.48 | 14.52 |
| PREMIERENE | 974.55 | 26.57 | 44239.84 | 0.10 | 471.92 | 53.32 | 2462.59 | 35.25 | 33.72 | 29.03 |
| REDINGTON | 393.65 | 18.09 | 30774.55 | 1.52 | 453.49 | 94.65 | 34922.47 | 34.57 | 18.96 | 2.03 |
| HONASA | 470.95 | 61.70 | 15354.11 | 0.64 | 90.45 | 118.87 | 755.95 | 27.00 | 20.87 | 14.58 |
| LLOYDSENT | 69.79 | 94.88 | 10653.81 | 0.21 | 109.98 | -55.77 | 563.03 | 70.15 | 12.84 | 18.07 |
| SGMART | 751.25 | 76.16 | 9468.39 | 0.00 | 455.80 | 1310.71 | 13085.70 | 1044.08 | 10.43 | 4.49 |
| MMTC | 61.96 | 20.78 | 9294.00 | 0.00 | 104.24 | 135.52 | 0.68 | -50.00 | 33.46 | -1423.53 |
| ENTERO | 1819.35 | 63.14 | 7918.37 | 0.00 | 52.05 | 72.17 | 1940.50 | 38.23 | 10.93 | 5.00 |
| EBGNG | 683.00 | 54.67 | 7786.99 | 0.00 | 28.93 | 56.21 | 412.46 | 32.08 | 20.58 | 11.97 |
| VINYLINDIA | 220.10 | 21.62 | 403.60 | 3.18 | 6.62 | 48.76 | 99.64 | -34.11 | 17.26 | 2.69 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 115 | 154 | 159 | 168 | 156 | 150 | 146 | 173 | 151 | 152 | 169 | 180 | 100 | |
| 112 | 150 | 150 | 160 | 150 | 144 | 143 | 163 | 149 | 149 | 166 | 177 | 97 | |
| Operating Profit | 3 | 5 | 9 | 9 | 6 | 6 | 4 | 10 | 2 | 3 | 4 | 3 | 3 |
| OPM % | 2.98% | 2.93% | 5.50% | 5.13% | 3.84% | 3.96% | 2.50% | 5.76% | 1.30% | 1.76% | 2.19% | 1.58% | 2.62% |
| 1 | 1 | 1 | 2 | 1 | 1 | 3 | 0 | 4 | 1 | 2 | 3 | 6 | |
| 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 |
| Profit before Tax | 5 | 5 | 9 | 10 | 7 | 7 | 7 | 10 | 6 | 4 | 6 | 6 | 9 |
| Tax % | 24.89% | 26.93% | 25.96% | 27.11% | 26.89% | 26.19% | 24.21% | 28.09% | 26.08% | 25.77% | 26.50% | 24.14% | 25.53% |
| Net Profit | 4 | 4 | 7 | 8 | 5 | 5 | 5 | 7 | 4 | 3 | 5 | 5 | 7 |
| 1.91 | 2.12 | 3.79 | 4.10 | 2.68 | 2.80 | 2.74 | 3.96 | 2.42 | 1.58 | 2.47 | 2.53 | 3.61 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 293 | 375 | 483 | 372 | 404 | 865 | 1,013 | 597 | 625 | 652 | 601 | |
| 283 | 361 | 472 | 366 | 390 | 821 | 966 | 572 | 600 | 641 | 589 | |
| Operating Profit | 9 | 14 | 10 | 6 | 14 | 44 | 47 | 25 | 26 | 11 | 12 |
| OPM % | 3.17% | 3.80% | 2.17% | 1.70% | 3.45% | 5.13% | 4.61% | 4.25% | 4.08% | 1.71% | 1.97% |
| 4 | 4 | 4 | 4 | 1 | 2 | 2 | 4 | 5 | 11 | 13 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 13 | 18 | 14 | 10 | 15 | 47 | 48 | 30 | 30 | 22 | 25 |
| Tax % | 35.09% | 35.61% | 36.73% | 25.33% | 25.53% | 25.32% | 24.99% | 26.37% | 26.54% | 25.64% | 25.47% |
| Net Profit | 9 | 12 | 9 | 7 | 11 | 35 | 36 | 22 | 22 | 16 | 19 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 6.19 | 19.01 | 19.44 | 11.91 | 12.18 | 8.99 | — |
| Dividend Payout % | 37.87% | 37.72% | 49.67% | 59.00% | 60.58% | 52.60% | 51.44% | 56.66% | 57.47% | 77.82% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 7%
- 5 Years:
- 10%
- 3 Years:
- -14%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 8%
- 5 Years:
- 8%
- 3 Years:
- -23%
STOCK PRICE CAGR
- 10 Years:
- 14%
- 5 Years:
- 0%
- 3 Years:
- -22%
- 1 Year:
- -24%
RETURN ON EQUITY
- 10 Years:
- 21%
- 5 Years:
- 25%
- 3 Years:
- 17%
- Last Year:
- 13%
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 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| 46 | 54 | 57 | 59 | 66 | 94 | 111 | 115 | 125 | 128 | |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Trade Payables | 53 | 111 | 78 | 92 | 196 | 57 | 56 | 181 | 125 | 96 |
| 12 | 9 | 17 | 2 | 11 | 21 | 17 | 7 | 16 | 12 | |
| Total Liabilities | 113 | 176 | 155 | 156 | 275 | 175 | 187 | 305 | 268 | 238 |
| 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | |
| 39 | 34 | 2 | 47 | 55 | 78 | 40 | 57 | 68 | 52 | |
| 18 | 55 | 66 | 48 | 73 | 53 | 85 | 120 | 63 | 33 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 106 | 105 | 123 | |
| Cash & Bank | 1 | 2 | 10 | 12 | 12 | 1 | 2 | 6 | 12 | 10 |
| 56 | 85 | 77 | 49 | 136 | 43 | 60 | 15 | 19 | 19 | |
| Total Assets | 113 | 176 | 155 | 156 | 275 | 175 | 187 | 305 | 268 | 238 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -2 | 3 | -16 | 56 | 14 | 26 | -8 | 36 | 24 | -16 | |
| Cash from Investing | 10 | 8 | 34 | -44 | -6 | -21 | 40 | -14 | -6 | 21 |
| Cash from Financing | -3 | -4 | -5 | -5 | -4 | -7 | -19 | -18 | -12 | -13 |
| -0 | 1 | 7 | 2 | 0 | -11 | 1 | 4 | 5 | -8 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Vinyl Chemicals (India) Limited has informed the Exchange about Credit Rating
2026-09-10 - Vinyl Chemicals (india) Limited has informed the Exchange about Copy of Newspaper Publication regarding Special Window for transfer and dematerialisation of physical securities
2026-07-31 - Vinyl Chemicals (India) Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-30 - Vinyl Chemicals (India) Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-08 - Vinyl Chemicals (India) Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-06-25 - Vinyl Chemicals (India) Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-06-23 - Vinyl Chemicals (India) Limited has informed the Exchange with copy of minutes of Annual General Meeting held on Jun 05, 2026
2026-06-05 - Vinyl Chemicals (India) Limited has informed the Exchange about General Updates
2026-06-05 - Vinyl Chemicals (India) Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on Jun 05, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
News
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