Annonce • Aug 12
Mr. Kanumuru Satyanarayana Raju completed the acquisition of Nasense Labs Private Limited from NACL Industries Limited (BSE:524709). Kanumuru Satyanarayana Raju signed a letter of intent to acquire Nasense Labs Private Limited from NACL Industries Limited (BSE:524709) for INR 81.5 million on July 22, 2026. A cash consideration of INR 81.53 million will be paid by the buyer. As part of consideration, INR 81.53 million is paid towards common equity of Nasense Labs Private Limited. Post completion of the proposed transaction, Nasense Labs Private Limited shall cease to be an Associate Company of the Company. The Share Purchase Agreement is approved the Board and yet to be signed.
The proposed transaction is expected to be completed within next three months subject to the fulfilment of the terms and conditions set out in the Share Purchase Agreement.
Mr. Kanumuru Satyanarayana Raju completed the acquisition of Nasense Labs Private Limited from NACL Industries Limited (BSE:524709) on August 10, 2026. Board Change • Aug 04
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Non-Executive Independent Director Mannepalli Kantam is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annonce • Jul 15
NACL Industries Limited to Report Q1, 2027 Results on Jul 22, 2026 NACL Industries Limited announced that they will report Q1, 2027 results at 9:15 AM, Indian Standard Time on Jul 22, 2026 Annonce • May 04
NACL Industries Limited, Annual General Meeting, Jul 22, 2026 NACL Industries Limited, Annual General Meeting, Jul 22, 2026. Annonce • Apr 29
NACL Industries Limited to Report Q4, 2026 Results on May 04, 2026 NACL Industries Limited announced that they will report Q4, 2026 results at 9:15 AM, Indian Standard Time on May 04, 2026 Reported Earnings • Jan 30
Third quarter 2026 earnings released: ₹0.47 loss per share (vs ₹1.82 loss in 3Q 2025) Third quarter 2026 results: ₹0.47 loss per share (improved from ₹1.82 loss in 3Q 2025). Revenue: ₹3.18b (up 19% from 3Q 2025). Net loss: ₹101.6m (loss narrowed 72% from 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Annonce • Jan 21
NACL Industries Limited to Report Q3, 2026 Results on Jan 29, 2026 NACL Industries Limited announced that they will report Q3, 2026 results on Jan 29, 2026 New Risk • Jan 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% 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: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Earnings have declined by 54% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Annonce • Dec 31
NACL Industries Limited has completed a Follow-on Equity Offering in the amount of INR 2.492892 billion. NACL Industries Limited has completed a Follow-on Equity Offering in the amount of INR 2.492892 billion.
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 32,501,851
Price\Range: INR 76.7
Transaction Features: Regulation S; Rights Offering Annonce • Dec 03
NACL Industries Limited has filed a Follow-on Equity Offering in the amount of INR 2.5 billion. NACL Industries Limited has filed a Follow-on Equity Offering in the amount of INR 2.5 billion.
Security Name: Equity Shares
Security Type: Common Stock
Transaction Features: Regulation S; Rights Offering Reported Earnings • Oct 25
Second quarter 2026 earnings released: EPS: ₹0.13 (vs ₹0.75 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.13 (down from ₹0.75 in 2Q 2025). Revenue: ₹4.57b (up 3.8% from 2Q 2025). Net income: ₹25.5m (down 83% from 2Q 2025). Profit margin: 0.6% (down from 3.4% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 142 percentage points per year, which is a significant difference in performance. Annonce • Oct 21
NACL Industries Limited to Report Q2, 2026 Results on Oct 24, 2025 NACL Industries Limited announced that they will report Q2, 2026 results at 3:30 PM, Indian Standard Time on Oct 24, 2025 Board Change • Sep 03
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Non-Executive Independent Director Mannepalli Kantam is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annonce • Aug 11
NACL Industries Limited, Annual General Meeting, Sep 25, 2025 NACL Industries Limited, Annual General Meeting, Sep 25, 2025. Buy Or Sell Opportunity • Aug 11
Now 20% undervalued Over the last 90 days, the stock has risen 61% to ₹291. The fair value is estimated to be ₹366, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Meanwhile, the company became loss making. Annonce • Aug 08
Coromandel International Limited (NSEI:COROMANDEL) Completed the acquisition of 52.98% stake in NACL Industries Limited (BSE:524709) from GSR Products Ltd. Coromandel International Limited (NSEI:COROMANDEL) entered into Share Purchase Agreement to acquire 52.98% stake in NACL Industries Limited (BSE:524709) from GSR Products Ltd. for INR 8.2 billion on March 12, 2025. A cash consideration valued at INR 76.7 per share will be paid by Coromandel International Limited. The consummation of the Promoter Sale Transaction is subject to receipt of applicable governmental and statutory approvals and the satisfaction of conditions precedents under the SPA. Pursuant to the aforesaid meeting of the board of directors, the Promoter SPA has been executed. Upon consummation of the Promoter Sale Transaction contemplated under the Promoter SPA, the Purchaser will acquire control over the Company and become a promoter of the Company. As per the announcement dated July 1, 2025 Competition Commission of India has approved the transaction.
JM Financial Limited acted as financial advisor, Darshika Kothari, Kunal Kumbhat, Abhilash Chandran, Kritika Agarwal and Bharat Bhudolia of AZB & Partners acted as legal advisor and Ernst & Young Global Limited acted as due diligence provider to Coromandel International Limited. and SSPA & Co. Chartered Accountants acted as independent valuers.
Coromandel International Limited (NSEI:COROMANDEL) Completed the acquisition of 52.98% stake in NACL Industries Limited (BSE:524709) from GSR Products Ltd. on August 8, 2025. Following the 53% stake acquisition, Natarajan Srinivasan, S Sankarasubramanian and Raghuram Devarakonda have joined the Board of NACL Industries today. Reported Earnings • Jul 29
First quarter 2026 earnings released: EPS: ₹0.65 (vs ₹1.04 loss in 1Q 2025) First quarter 2026 results: EPS: ₹0.65 (up from ₹1.04 loss in 1Q 2025). Revenue: ₹4.50b (up 38% from 1Q 2025). Net income: ₹130.4m (up ₹338.4m from 1Q 2025). Profit margin: 2.9% (up from net loss in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 168 percentage points per year, which is a significant difference in performance. Annonce • Jul 21
NACL Industries Limited to Report Q1, 2026 Results on Jul 28, 2025 NACL Industries Limited announced that they will report Q1, 2026 results on Jul 28, 2025 Reported Earnings • May 29
Full year 2025 earnings released: ₹4.62 loss per share (vs ₹2.96 loss in FY 2024) Full year 2025 results: ₹4.62 loss per share (further deteriorated from ₹2.96 loss in FY 2024). Revenue: ₹12.4b (down 30% from FY 2024). Net loss: ₹921.3m (loss widened 56% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 137 percentage points per year, which is a significant difference in performance. Annonce • May 09
NACL Industries Limited to Report Q4, 2025 Results on May 14, 2025 NACL Industries Limited announced that they will report Q4, 2025 results on May 14, 2025 Annonce • Mar 14
Coromandel International Limited (NSEI:COROMANDEL) agreed to acquire 52.98% stake in NACL Industries Limited (BSE:524709) from GSR Products Ltd. for INR 8.2 billion. Coromandel International Limited (NSEI:COROMANDEL) agreed to acquire 52.98% stake in NACL Industries Limited (BSE:524709) from GSR Products Ltd. for INR 8.2 billion on March 12, 2025. A cash consideration valued at INR 76.7 per share will be paid by Coromandel International Limited. As part of consideration, an undisclosed value is paid towards common equity of NACL Industries Limited. The consummation of the Promoter Sale Transaction is subject to receipt of applicable governmental and statutory approvals and the satisfaction of conditions precedents under the SPA. Pursuant to the aforesaid meeting of the board of directors, the Promoter SPA has been executed. Upon consummation of the Promoter Sale Transaction contemplated under the Promoter SPA, the Purchaser will acquire control over the Company and become a promoter of the Company.
JM Financial Limited acted as financial advisor, AZB & Partners acted as legal advisor and Ernst & Young Global Limited acted as due diligence provider to Coromandel International Limited. and SSPA & Co. Chartered Accountants acted as independent valuers. Annonce • Mar 12
Coromandel Reportedly in Talks to Buy Nagarjuna Agri Stake Coromandel International Limited (NSEI:COROMANDEL) is in advanced talks to buy a majority stake in (Nagarjuna Agrichem) NACL Industries Limited (BSE:524709), according to sources familiar with the deliberations. The stake purchased could be around 49% and peg the value of the company at INR 14 billion - INR 15 billion, they said. Coromandel International will make an open offer to minority shareholders of Nagarjuna Agrichem if the deal fructifies. The potential deal will offer back-end synergies to fertilisers, pesticides and specialty nutrients manufacturer Coromandel International. The Hyderabad-headquartered Nagarjuna Agrichem is in the active ingredients business. It produces chemical compounds that go into insecticides and fungicides used to protect crops such as rice, maize and potatoes from disease and pests. It also makes formulations or final products and has a range of branded insecticides, herbicides, fungicides and plant growth regulators. Its customers include global players such as Syngenta, Corteva, Nissan Chemical and Adama. Coromandel International is the second-largest producer of phosphatic fertilisers in India that are used to boost crop yields. The company clocked a turnover of INR 222.9 billion for the financial year 2023-24. Murugappa Group and Nagarjuna Agrichem did not respond to ET’s queries. Nagarjuna Agrichem started operations in 1986, as per its website. Promoters own 63.65% stake in the company, as per latest available shareholding data. Reported Earnings • Feb 13
Third quarter 2025 earnings released: ₹1.82 loss per share (vs ₹0.80 loss in 3Q 2024) Third quarter 2025 results: ₹1.82 loss per share (further deteriorated from ₹0.80 loss in 3Q 2024). Revenue: ₹2.69b (down 26% from 3Q 2024). Net loss: ₹362.3m (loss widened 128% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Annonce • Feb 05
NACL Industries Limited to Report Q3, 2025 Results on Feb 12, 2025 NACL Industries Limited announced that they will report Q3, 2025 results on Feb 12, 2025 New Risk • Jan 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 7.9% 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: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). Earnings have declined by 14% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). Reported Earnings • Oct 25
Second quarter 2025 earnings released: EPS: ₹0.75 (vs ₹0.21 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.75 (up from ₹0.21 in 2Q 2024). Revenue: ₹4.44b (down 24% from 2Q 2024). Net income: ₹149.0m (up 265% from 2Q 2024). Profit margin: 3.4% (up from 0.7% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Annonce • Oct 16
NACL Industries Limited to Report Q2, 2025 Results on Oct 24, 2024 NACL Industries Limited announced that they will report Q2, 2025 results at 3:30 PM, Indian Standard Time on Oct 24, 2024 Annonce • Aug 17
NACL Industries Limited Announces Resignation of N. Vijayaraghavan as Non-Executive Independent Director NACL Industries Limited informed that Mr. N. Vijayaraghavan, vide his letter dated August 16, 2024, has tendered his resignation as Non-Executive Independent Director of the Company with immediate effect due to his personal reasons and some major health issues. Mr. N. Vijayaraghavan has confirmed that there are no material reasons for his resignation other than those mentioned in his resignation letter. Annonce • Aug 16
NACL Industries Limited, Annual General Meeting, Sep 25, 2024 NACL Industries Limited, Annual General Meeting, Sep 25, 2024. Reported Earnings • Aug 16
First quarter 2025 earnings released: ₹1.04 loss per share (vs ₹1.91 loss in 1Q 2024) First quarter 2025 results: ₹1.04 loss per share (improved from ₹1.91 loss in 1Q 2024). Revenue: ₹3.28b (down 13% from 1Q 2024). Net loss: ₹208.0m (loss narrowed 45% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Annonce • Aug 02
NACL Industries Limited to Report Q1, 2025 Results on Aug 07, 2024 NACL Industries Limited announced that they will report Q1, 2025 results on Aug 07, 2024 Annonce • Jul 02
NACL Industries Limited Announces Retirement of Gantasala Jagannadha Rao as Senior Management Personnel NACL Industries Limited announced that Mr. Gantasala Jagannadha Rao, President -- International Business designated as `Senior Management Personnel' of the Company has retired from his services of company with immediate effect that is from July 02, 2024. Reported Earnings • Jun 07
Full year 2024 earnings released: ₹2.96 loss per share (vs ₹4.78 profit in FY 2023) Full year 2024 results: ₹2.96 loss per share (down from ₹4.78 profit in FY 2023). Revenue: ₹17.9b (down 16% from FY 2023). Net loss: ₹588.9m (down 162% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Annonce • May 17
NACL Industries Limited to Report Q4, 2024 Results on May 23, 2024 NACL Industries Limited announced that they will report Q4, 2024 results on May 23, 2024 Annonce • Mar 22
NACL Industries Limited Approves the Appointment of M. Lakshmi Kantam as Non-Executive and Independent Director NACL Industries Limited announced that the Members of the Company have duly approved the appointment of Dr. M. Lakshmi Kantam as a Non-Executive and Independent Director of the Company for a term of five consecutive years effective from January 23, 2024 to January 22, 2029, by way of Special Resolution on March 20, 2024. Annonce • Jan 25
NACL Industries Limited Announces Designation of Biju Pillai as Senior Management Personnel NACL Industries Limited announced that the Board of Directors in its meeting held on January 23, 2024, Designated Dr. Biju Pillai Head R&D, as Senior Management Personnel (SMP) of the Company with effect from January 23, 2024. Dr. Biju Pillai is a PHD in Organic Chemistry. Dr. Biju Pillai is a seasoned R&D professional with an a impressive track record of about 24 years. He recently served as Director of Global Chemical R&D at Adama India, holding a concurrent position as a Whole Time Director on the company's Board. Prior to this, Dr. Pillai honed his expertise across diverse pharmaceutical organizations, including Alembic Research Centre, Torrent Research Center, Macleods Pharmaceuticals, Glenmark Research Center, Orchid Chemicals and Pharmaceuticals, Chemicor Drugs, and Dr.Reddy's Laboratories. Reported Earnings • Jan 24
Third quarter 2024 earnings released: ₹0.80 loss per share (vs ₹0.83 profit in 3Q 2023) Third quarter 2024 results: ₹0.80 loss per share (down from ₹0.83 profit in 3Q 2023). Revenue: ₹3.67b (down 24% from 3Q 2023). Net loss: ₹159.0m (down 196% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Annonce • Jan 11
NACL Industries Limited to Report Q3, 2024 Results on Jan 23, 2024 NACL Industries Limited announced that they will report Q3, 2024 results at 3:30 PM, Indian Standard Time on Jan 23, 2024 Reported Earnings • Oct 29
Second quarter 2024 earnings released: EPS: ₹0.21 (vs ₹1.51 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.21 (down from ₹1.51 in 2Q 2023). Revenue: ₹5.81b (up 2.8% from 2Q 2023). Net income: ₹40.8m (down 86% from 2Q 2023). Profit margin: 0.7% (down from 5.3% 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 5% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Oct 17
NACL Industries Limited to Report Q2, 2024 Results on Oct 27, 2023 NACL Industries Limited announced that they will report Q2, 2024 results on Oct 27, 2023 Annonce • Sep 24
NACL Industries Limited Declares Dividend for the Financial Year Ended March 31, 2023 NACL Industries Limited at its 36th AGM held on September 22, 2023 declared dividend of INR 0.25 per equity share (i.e., 25% on the paid-up equity share capital of the company) for the financial year ended March 31, 2023. Upcoming Dividend • Sep 01
Upcoming dividend of ₹0.25 per share at 0.8% yield Eligible shareholders must have bought the stock before 08 September 2023. Payment date: 22 October 2023. Payout ratio is a comfortable 15% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.4%). In line with average of industry peers (0.8%). Annonce • Jul 29
NACL Industries Limited, Annual General Meeting, Sep 22, 2023 NACL Industries Limited, Annual General Meeting, Sep 22, 2023. New Risk • Jul 28
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: 2.1% Last year net profit margin: 4.1% 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 Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.1% net profit margin). Reported Earnings • Jul 28
First quarter 2024 earnings released: ₹1.91 loss per share (vs ₹0.75 profit in 1Q 2023) First quarter 2024 results: ₹1.91 loss per share (down from ₹0.75 profit in 1Q 2023). Revenue: ₹3.80b (down 20% from 1Q 2023). Net loss: ₹380.6m (down 355% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 29% per year. Annonce • Jul 14
NACL Industries Limited to Report Q1, 2024 Results on Jul 27, 2023 NACL Industries Limited announced that they will report Q1, 2024 results on Jul 27, 2023 Reported Earnings • May 23
Full year 2023 earnings released: EPS: ₹4.78 (vs ₹3.71 in FY 2022) Full year 2023 results: EPS: ₹4.78 (up from ₹3.71 in FY 2022). Revenue: ₹21.2b (up 30% from FY 2022). Net income: ₹948.7m (up 29% from FY 2022). Profit margin: 4.5% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 14
NACL Industries Limited to Report Q4, 2023 Results on May 22, 2023 NACL Industries Limited announced that they will report Q4, 2023 results on May 22, 2023 Annonce • May 06
NACL Industries Limited Appoints Raj Kaul as A Non-Executive and Non-Independent Director NACL Industries Limited announced that the members of the company have duly approved the appointment of Mr. Raj Kaul as a non-executive and non-independent director of the company by passing Special Resolution through Postal Ballot remote e-Voting, with the requisite majority on May 04, 2023, being the last date of voting. Mr. Raj Kaul appointed as Non-Executive and Non-Independent Director with effect from May 05, 2023. His directorship is liable to retire by rotation. Mr. Raj Kaul holds a BSc Engg. (Honors) and Post Graduate - Marketing from IIM, Ahmedabad. Mr. Kaul has rich global experience in crop protection business, M&A and Advisory in the areas of agrochemicals, bio-technology seeds etc. Mr. Raj Kaul is not related to any Director or Key Managerial Personnel of the company. Upcoming Dividend • Feb 03
Upcoming dividend of ₹0.15 per share at 0.5% yield Eligible shareholders must have bought the stock before 10 February 2023. Payment date: 02 March 2023. Payout ratio is a comfortable 15% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (0.9%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: ₹0.83 (vs ₹0.73 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.83 (up from ₹0.73 in 3Q 2022). Revenue: ₹4.84b (up 21% from 3Q 2022). Net income: ₹165.3m (up 15% from 3Q 2022). Profit margin: 3.4% (down from 3.6% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Annonce • Jan 21
NACL Industries Limited to Report Q3, 2023 Results on Jan 31, 2023 NACL Industries Limited announced that they will report Q3, 2023 results at 3:30 PM, Indian Standard Time on Jan 31, 2023 Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 19% share price gain to ₹102, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 289% over the past three years. Upcoming Dividend • Oct 25
Upcoming dividend of ₹0.30 per share Eligible shareholders must have bought the stock before 01 November 2022. Payment date: 20 November 2022. Payout ratio is a comfortable 15% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.6%). In line with average of industry peers (0.7%). Reported Earnings • Oct 22
Second quarter 2023 earnings released: EPS: ₹1.51 (vs ₹1.23 in 2Q 2022) Second quarter 2023 results: EPS: ₹1.51 (up from ₹1.23 in 2Q 2022). Revenue: ₹5.68b (up 28% from 2Q 2022). Net income: ₹298.9m (up 23% from 2Q 2022). Profit margin: 5.3% (down from 5.5% 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 63% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 08
Upcoming dividend of ₹0.15 per share Eligible shareholders must have bought the stock before 15 September 2022. Payment date: 29 October 2022. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.6%). In line with average of industry peers (0.7%). Reported Earnings • Jul 30
First quarter 2023 earnings released First quarter 2023 results: Net income: ₹149.2m (up 4.7% from 1Q 2022). Reported Earnings • May 15
Full year 2022 earnings released: EPS: ₹3.71 (vs ₹2.63 in FY 2021) Full year 2022 results: EPS: ₹3.71 (up from ₹2.63 in FY 2021). Revenue: ₹16.5b (up 39% from FY 2021). Net income: ₹734.2m (up 44% from FY 2021). Profit margin: 4.4% (up from 4.3% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Additional Director Veni Mocherla was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Feb 03
Upcoming dividend of ₹0.15 per share Eligible shareholders must have bought the stock before 10 February 2022. Payment date: 27 February 2022. Payout ratio is a comfortable 15% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (0.7%). Reported Earnings • Jan 31
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.73 (up from ₹0.48 in 3Q 2021). Revenue: ₹4.04b (up 51% from 3Q 2021). Net income: ₹144.1m (up 57% from 3Q 2021). Profit margin: 3.6% (up from 3.4% 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 100% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 15% share price gain to ₹99.20, the stock trades at a trailing P/E ratio of 30.1x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 270% over the past three years. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 22% share price gain to ₹86.80, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 223% over the past three years. Upcoming Dividend • Nov 04
Upcoming dividend of ₹0.15 per share Eligible shareholders must have bought the stock before 11 November 2021. Payment date: 28 November 2021. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (0.7%). Executive Departure • Sep 15
Additional Independent Director Dorairaj Kuppurangam has left the company On the 9th of September, Dorairaj Kuppurangam's tenure as Additional Independent Director ended after 2.3 years in the role. We don't have any record of a personal shareholding under Dorairaj's name. Dorairaj is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.00 years. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 16% share price gain to ₹71.95, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 125% over the past three years. Upcoming Dividend • Sep 09
Upcoming dividend of ₹0.15 per share Eligible shareholders must have bought the stock before 16 September 2021. Payment date: 24 October 2021. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.7%). Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 26% share price gain to ₹68.25, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 17x in the Chemicals industry in India. Total returns to shareholders of 98% over the past three years. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹64.95, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 82% over the past three years. Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS ₹0.72 (vs ₹0.29 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹3.27b (up 28% from 1Q 2021). Net income: ₹142.5m (up 155% from 1Q 2021). Profit margin: 4.4% (up from 2.2% in 1Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 29% share price gain to ₹69.85, the stock trades at a trailing P/E ratio of 23.6x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 155% over the past three years. Reported Earnings • May 30
Full year 2021 earnings released: EPS ₹2.63 (vs ₹1.00 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹12.1b (up 19% from FY 2020). Net income: ₹509.9m (up 205% from FY 2020). Profit margin: 4.2% (up from 1.6% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 21% share price gain to ₹48.15, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 31% over the past three years. Upcoming Dividend • Mar 30
Upcoming dividend of ₹0.15 per share Eligible shareholders must have bought the stock before 06 April 2021. Payment date: 22 April 2021. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.9%). In line with average of industry peers (0.7%). Is New 90 Day High Low • Feb 11
New 90-day low: ₹38.85 The company is down 5.0% from its price of ₹40.80 on 13 November 2020. The Indian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 16% over the same period. Reported Earnings • Feb 06
Third quarter 2021 earnings released: EPS ₹0.48 (vs ₹0.23 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹2.68b (up 12% from 3Q 2020). Net income: ₹92.0m (up 144% from 3Q 2020). Profit margin: 3.4% (up from 1.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.