New Risk • Aug 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Shareholders have been diluted in the past year (30% increase in shares outstanding). Market cap is less than US$100m (₹2.58b market cap, or US$27.1m). Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹4.84, the stock trades at a trailing P/E ratio of 41.4x. Average trailing P/E is 22x in the Chemicals industry in India. Total returns to shareholders of 69% over the past three years. Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Ashvinkumar Trapasiya was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 26
Full year 2026 earnings released: EPS: ₹0.12 (vs ₹0.12 in FY 2025) Full year 2026 results: EPS: ₹0.12. Revenue: ₹664.1m (up 7.6% from FY 2025). Net income: ₹51.0m (up 20% from FY 2025). Profit margin: 7.7% (up from 6.9% in FY 2025). The increase in margin was driven by higher revenue. Ankündigung • May 16
Sikko Industries Limited to Report Q4, 2026 Results on May 23, 2026 Sikko Industries Limited announced that they will report Q4, 2026 results on May 23, 2026 Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹5.36, the stock trades at a trailing P/E ratio of 37.6x. Average trailing P/E is 23x in the Chemicals industry in India. Total returns to shareholders of 26% over the past three years. Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: ₹0.05 (vs ₹0.039 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.05 (up from ₹0.039 in 3Q 2025). Revenue: ₹167.2m (up 43% from 3Q 2025). Net income: ₹20.8m (up 60% from 3Q 2025). Profit margin: 12% (up from 11% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹4.17, the stock trades at a trailing P/E ratio of 33.4x. Average trailing P/E is 22x in the Chemicals industry in India. Total loss to shareholders of 18% over the past three years. Reported Earnings • Nov 13
Second quarter 2026 earnings released: EPS: ₹1.31 (vs ₹1.25 in 2Q 2025) Second quarter 2026 results: EPS: ₹1.31 (up from ₹1.25 in 2Q 2025). Revenue: ₹192.3m (up 26% from 2Q 2025). Net income: ₹28.5m (up 36% from 2Q 2025). Profit margin: 15% (up from 14% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₹124, the stock trades at a trailing P/E ratio of 57.7x. Average trailing P/E is 26x in the Chemicals industry in India. Total returns to shareholders of 31% over the past three years. New Risk • Oct 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 4.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (4.0% average weekly change). Shareholders have been diluted in the past year (30% increase in shares outstanding). Market cap is less than US$100m (₹1.61b market cap, or US$18.1m). Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹88.41, the stock trades at a trailing P/E ratio of 41.1x. Average trailing P/E is 26x in the Chemicals industry in India. Total loss to shareholders of 4.7% over the past three years. New Risk • Sep 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 30% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (30% increase in shares outstanding). Market cap is less than US$100m (₹1.54b market cap, or US$17.3m). Reported Earnings • Aug 13
First quarter 2026 earnings released: EPS: ₹1.00 (vs ₹1.04 in 1Q 2025) First quarter 2026 results: EPS: ₹1.00. Revenue: ₹181.5m (up 14% from 1Q 2025). Net income: ₹21.8m (up 25% from 1Q 2025). Profit margin: 12% (up from 11% in 1Q 2025). The increase in margin was driven by higher revenue. Ankündigung • Aug 12
Sikko Industries Limited, Annual General Meeting, Sep 26, 2025 Sikko Industries Limited, Annual General Meeting, Sep 26, 2025, at 11:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to ₹81.85, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 25x in the Chemicals industry in India. Total returns to shareholders of 128% over the past three years. Reported Earnings • Feb 12
Third quarter 2025 earnings released: EPS: ₹0.77 (vs ₹0.78 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.77 (down from ₹0.78 in 3Q 2024). Revenue: ₹117.2m (down 14% from 3Q 2024). Net income: ₹13.0m (down 1.0% from 3Q 2024). Profit margin: 11% (up from 9.7% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹108, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 32x in the Chemicals industry in India. Total returns to shareholders of 191% over the past three years. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹99.13, the stock trades at a trailing P/E ratio of 28.6x. Average trailing P/E is 34x in the Chemicals industry in India. Total returns to shareholders of 150% over the past three years. Reported Earnings • Oct 27
Second quarter 2025 earnings released: EPS: ₹1.25 (vs ₹0.96 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.25 (up from ₹0.96 in 2Q 2024). Revenue: ₹153.7m (down 19% from 2Q 2024). Net income: ₹21.0m (up 30% from 2Q 2024). Profit margin: 14% (up from 8.6% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Aug 21
Sikko Industries Limited, Annual General Meeting, Sep 13, 2024 Sikko Industries Limited, Annual General Meeting, Sep 13, 2024, at 11:00 Indian Standard Time. Reported Earnings • Jul 26
First quarter 2025 earnings released: EPS: ₹1.04 (vs ₹0.29 in 1Q 2024) First quarter 2025 results: EPS: ₹1.04 (up from ₹0.29 in 1Q 2024). Revenue: ₹159.1m (up 9.1% from 1Q 2024). Net income: ₹17.5m (up 261% from 1Q 2024). Profit margin: 11% (up from 3.3% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 86% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹99.31, the stock trades at a trailing P/E ratio of 41x. Average trailing P/E is 31x in the Chemicals industry in India. Total returns to shareholders of 494% over the past three years. Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹2.42 (vs ₹1.72 in FY 2023) Full year 2024 results: EPS: ₹2.42 (up from ₹1.72 in FY 2023). Revenue: ₹647.1m (up 30% from FY 2023). Net income: ₹40.6m (up 41% from FY 2023). Profit margin: 6.3% (up from 5.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (₹1.58b market cap, or US$19.0m). Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹90.55, the stock trades at a trailing P/E ratio of 50.6x. Average trailing P/E is 30x in the Chemicals industry in India. Total returns to shareholders of 439% over the past three years. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹78.50, the stock trades at a trailing P/E ratio of 43.9x. Average trailing P/E is 29x in the Chemicals industry in India. Total returns to shareholders of 328% over the past three years. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹66.40, the stock trades at a trailing P/E ratio of 37.1x. Average trailing P/E is 28x in the Chemicals industry in India. Total returns to shareholders of 639% over the past three years. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: ₹0.78 (vs ₹0.72 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.78 (up from ₹0.72 in 3Q 2023). Revenue: ₹136.0m (up 34% from 3Q 2023). Net income: ₹13.1m (up 8.5% from 3Q 2023). Profit margin: 9.6% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 96% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to ₹88.50, the stock trades at a trailing P/E ratio of 51.2x. Average trailing P/E is 29x in the Chemicals industry in India. Total returns to shareholders of 892% over the past three years. Reported Earnings • Nov 07
Second quarter 2024 earnings released: EPS: ₹0.96 (vs ₹1.01 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.96 (down from ₹1.01 in 2Q 2023). Revenue: ₹188.7m (up 25% from 2Q 2023). Net income: ₹16.2m (down 4.3% from 2Q 2023). Profit margin: 8.6% (down from 11% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 106% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Aug 13
Sikko Industries Limited, Annual General Meeting, Sep 11, 2023 Sikko Industries Limited, Annual General Meeting, Sep 11, 2023, at 16:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statement of the Company for the financial year ended on March 31, 2023 together with the Reports of Board of Directors and the Auditor thereon; to appoint a Director in place of Mr. Ghanshyambhai Kumbhani Whole-time Director who retires by rotation and being eligible, seeks re-appointment; and to regularize appointment of Mr. Ashvinkumar Ramnikbhai Trapasiya as an Independent Director of the Company. New Risk • Aug 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.4% Last year net profit margin: 9.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (33% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.4% net profit margin). Market cap is less than US$100m (₹967.7m market cap, or US$11.7m). Reported Earnings • Aug 13
First quarter 2024 earnings released: EPS: ₹0.29 (vs ₹0.24 in 1Q 2023) First quarter 2024 results: EPS: ₹0.29 (up from ₹0.24 in 1Q 2023). Revenue: ₹146.1m (down 16% from 1Q 2023). Net income: ₹4.84m (up 21% from 1Q 2023). Profit margin: 3.3% (up from 2.3% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 83% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 25
Full year 2023 earnings released Full year 2023 results: Revenue: ₹499.3m (down 2.2% from FY 2022). Net income: ₹28.9m (up 54% from FY 2022). Profit margin: 5.8% (up from 3.7% in FY 2022). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹86.40, the stock trades at a trailing P/E ratio of 56.5x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 1,238% over the past three years. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹0.72 (vs ₹0.45 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.72 (up from ₹0.45 in 3Q 2022). Revenue: ₹102.5m (down 17% from 3Q 2022). Net income: ₹12.1m (up 58% from 3Q 2022). Profit margin: 12% (up from 6.2% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 122% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Oct 24
Now 21% undervalued Over the last 90 days, the stock is up 151%. The fair value is estimated to be ₹166, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 9.3%. Reported Earnings • Oct 24
Second quarter 2023 earnings released: EPS: ₹1.51 (vs ₹4.68 in 2Q 2022) Second quarter 2023 results: EPS: ₹1.51 (down from ₹4.68 in 2Q 2022). Revenue: ₹150.8m (up 20% from 2Q 2022). Net income: ₹16.9m (down 68% from 2Q 2022). Profit margin: 11% (down from 42% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 117% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 36% share price gain to ₹133, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 1,422% over the past three years. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 15% share price gain to ₹119, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 748% over the past three years. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 26% share price gain to ₹69.90, the stock trades at a trailing P/E ratio of 41.7x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 374% over the past three years. Ankündigung • Aug 13
Sikko Industries Limited, Annual General Meeting, Sep 27, 2022 Sikko Industries Limited, Annual General Meeting, Sep 27, 2022, at 16:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improved over the past week After last week's 19% share price gain to ₹51.95, the stock trades at a trailing P/E ratio of 31x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 246% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improved over the past week After last week's 16% share price gain to ₹55.20, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 17x in the Chemicals industry in India. Total returns to shareholders of 230% over the past three years. Reported Earnings • Jun 03
Full year 2022 earnings released Full year 2022 results: Revenue: ₹512.4m (up 29% from FY 2021). Net income: ₹18.8m (down 28% from FY 2021). Profit margin: 3.7% (down from 6.6% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 19% share price gain to ₹60.40, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 303% over the past three years. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.68 (up from ₹0.24 in 3Q 2021). Revenue: ₹130.1m (up 42% from 3Q 2021). Net income: ₹7.66m (up 163% from 3Q 2021). Profit margin: 5.9% (up from 3.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 27% share price gain to ₹67.80, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 337% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹48.75, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 17x in the Chemicals industry in India. Total returns to shareholders of 183% over the past three years. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improved over the past week After last week's 17% share price gain to ₹40.50, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 151% over the past three years. Reported Earnings • Jun 27
Full year 2021 earnings released: EPS ₹4.23 (vs ₹2.17 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2021 results: Revenue: ₹396.6m (up 24% from FY 2020). Net income: ₹26.0m (up 6.7% from FY 2020). Profit margin: 6.6% (down from 7.6% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Executive Departure • Jun 03
Non-Executive Director Pravinbhai Kumbhani has left the company On the 25th of May, Pravinbhai Kumbhani's tenure as Non-Executive Director ended after 3.8 years in the role. As of March 2021, Pravinbhai still personally held 1.21m shares (₹31m worth at the time). Pravinbhai is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.42 years. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 15% share price gain to ₹27.00, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 17x in the Chemicals industry in India. Total loss to shareholders of 27% over the past three years. Is New 90 Day High Low • Feb 09
New 90-day high: ₹32.20 The company is up 43% from its price of ₹22.50 on 11 November 2020. The Indian market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 15% over the same period. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improved over the past week After last week's 16% share price gain to ₹32.20, the stock is trading at a trailing P/E ratio of 6.7x, up from the previous P/E ratio of 5.8x. This compares to an average P/E of 18x in the Chemicals industry in India. Total return to shareholders over the past three years is a loss of 3.0%. Reported Earnings • Nov 24
First half 2021 earnings released: EPS ₹3.60 The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: ₹213.8m (up 14% from 1H 2020). Net income: ₹20.2m (up 15% from 1H 2020). Profit margin: 9.4% (up from 9.3% in 1H 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Nov 18
Market bids up stock over the past week After last week's 16% share price gain to ₹26.00, the stock is trading at a trailing P/E ratio of 6x, up from the previous P/E ratio of 5.2x. This compares to an average P/E of 16x in the Chemicals industry in India. Total return to shareholders over the past three years is a loss of 30%. Valuation Update With 7 Day Price Move • Nov 10
Market pulls back on stock over the past week After last week's 19% share price decline to ₹23.00, the stock is trading at a trailing P/E ratio of 5.3x, down from the previous P/E ratio of 6.6x. This compares to an average P/E of 15x in the Chemicals industry in India. Total return to shareholders over the past three years is a loss of 44%.