Announcement • Jul 17
Laxmi Organic Industries Limited to Report Q1, 2027 Results on Jul 29, 2026 Laxmi Organic Industries Limited announced that they will report Q1, 2027 results on Jul 29, 2026 Reported Earnings • Jul 16
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: ₹2.86 (down from ₹4.10 in FY 2025). Revenue: ₹28.5b (down 4.6% from FY 2025). Net income: ₹793.6m (down 30% from FY 2025). Profit margin: 2.8% (down from 3.8% in FY 2025). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Announcement • Jul 14
Laxmi Organic Industries Limited Proposes Final Dividend for Fiscal Year Ended March 31, 2026 Laxmi Organic Industries Limited proposed final dividend at the rate of 15% (INR 0.30 per equity share) for the fiscal year ended March 31, 2026 to those Members whose names appear in the Register of Equity Shareholders of the Company as on July 21, 2026 (`Record Date') and in respect of shares held in electronic form, to those "beneficial members" whose names appear in the statement of Beneficial Ownership furnished by National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) as on the close of business hours on July 21, 2026 or to their mandates." It will be proposed at the AGM to be held on 5 August, 2026. Upcoming Dividend • Jul 14
Upcoming dividend of ₹0.30 per share Eligible shareholders must have bought the stock before 21 July 2026. Payment date: 04 September 2026. Payout ratio is a comfortable 10% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (0.8%). Declared Dividend • May 25
Dividend reduced to ₹0.30 Dividend of ₹0.30 is 40% lower than last year. Ex-date: 21st July 2026 Payment date: 4th September 2026 Dividend yield will be 0.2%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (12% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has remained flat since 5 years ago. However, payments have been volatile during that time. EPS is expected to grow by 105% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 23
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: ₹2.87 (down from ₹4.10 in FY 2025). Revenue: ₹28.6b (down 4.1% from FY 2025). Net income: ₹793.6m (down 30% from FY 2025). Profit margin: 2.8% (down from 3.8% in FY 2025). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Announcement • May 22
Laxmi Organic Industries Limited, Annual General Meeting, Aug 05, 2026 Laxmi Organic Industries Limited, Annual General Meeting, Aug 05, 2026. Buy Or Sell Opportunity • May 18
Now 20% undervalued Over the last 90 days, the stock has risen 5.8% to ₹151. The fair value is estimated to be ₹189, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 120% in the next 2 years. Announcement • May 05
Laxmi Organic Industries Limited to Report Q4, 2026 Results on May 21, 2026 Laxmi Organic Industries Limited announced that they will report Q4, 2026 results at 12:08 PM, Indian Standard Time on May 21, 2026 Buy Or Sell Opportunity • Apr 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.7% to ₹142. The fair value is estimated to be ₹178, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 120% in the next 2 years. Price Target Changed • Apr 13
Price target decreased by 8.6% to ₹156 Down from ₹170, the current price target is an average from 3 analysts. New target price is 19% above last closing price of ₹130. Stock is down 24% over the past year. The company is forecast to post earnings per share of ₹2.40 for next year compared to ₹4.10 last year. Buy Or Sell Opportunity • Feb 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 27% to ₹132. The fair value is estimated to be ₹168, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 120% in the next 2 years. Price Target Changed • Feb 01
Price target decreased by 10% to ₹170 Down from ₹190, the current price target is an average from 3 analysts. New target price is 22% above last closing price of ₹139. Stock is down 37% over the past year. The company is forecast to post earnings per share of ₹3.97 for next year compared to ₹4.10 last year. Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: ₹0.92 (vs ₹1.06 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.92 (down from ₹1.06 in 3Q 2025). Revenue: ₹7.22b (down 8.2% from 3Q 2025). Net income: ₹254.1m (down 13% from 3Q 2025). Profit margin: 3.5% (down from 3.7% in 3Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Jan 20
Laxmi Organic Industries Limited to Report Q3, 2026 Results on Jan 29, 2026 Laxmi Organic Industries Limited announced that they will report Q3, 2026 results on Jan 29, 2026 New Risk • Dec 03
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.9% net profit margin). New Risk • Oct 30
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: 2.9% Last year net profit margin: 4.5% 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: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Profit margins are more than 30% lower than last year (2.9% net profit margin). Reported Earnings • Oct 30
Second quarter 2026 earnings released: EPS: ₹0.41 (vs ₹1.01 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.41 (down from ₹1.01 in 2Q 2025). Revenue: ₹7.04b (down 8.8% from 2Q 2025). Net income: ₹110.2m (down 61% from 2Q 2025). Profit margin: 1.6% (down from 3.6% in 2Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 27
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at ₹198. The fair value is estimated to be ₹251, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 94% in the next 2 years. Announcement • Oct 15
Laxmi Organic Industries Limited to Report Q2, 2026 Results on Oct 29, 2025 Laxmi Organic Industries Limited announced that they will report Q2, 2026 results at 12:08 PM, Indian Standard Time on Oct 29, 2025 Buy Or Sell Opportunity • Aug 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.0% to ₹202. The fair value is estimated to be ₹255, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 94% in the next 2 years. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹219, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 29x in the Chemicals industry in India. Total loss to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹130 per share. New Risk • Aug 18
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 7.0% 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. This is currently the only risk that has been identified for the company. Announcement • Jul 15
Laxmi Organic Industries Limited to Report Q1, 2026 Results on Jul 28, 2025 Laxmi Organic Industries Limited announced that they will report Q1, 2026 results on Jul 28, 2025 Reported Earnings • Jul 15
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₹4.10 (down from ₹4.46 in FY 2024). Revenue: ₹29.9b (up 4.2% from FY 2024). Net income: ₹1.14b (down 5.8% from FY 2024). Profit margin: 3.8% (down from 4.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 11
Upcoming dividend of ₹0.50 per share Eligible shareholders must have bought the stock before 18 July 2025. Payment date: 30 August 2025. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (0.7%). Declared Dividend • May 23
Dividend reduced to ₹0.50 Dividend of ₹0.50 is 17% lower than last year. Ex-date: 18th July 2025 Payment date: 30th August 2025 Dividend yield will be 0.3%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (13% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.7% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 121% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 22
Laxmi Organic Industries Limited announces Annual dividend, payable on August 30, 2025 Laxmi Organic Industries Limited announced Annual dividend of INR 0.5000 per share payable on August 30, 2025, ex-date on July 18, 2025 and record date on July 18, 2025. Announcement • May 21
Laxmi Organic Industries Limited, Annual General Meeting, Jul 31, 2025 Laxmi Organic Industries Limited, Annual General Meeting, Jul 31, 2025. Reported Earnings • May 21
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₹4.10 (down from ₹4.46 in FY 2024). Revenue: ₹30.1b (up 5.1% from FY 2024). Net income: ₹1.14b (down 5.8% from FY 2024). Profit margin: 3.8% (down from 4.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • May 10
Laxmi Organic Industries Limited to Report Q4, 2025 Results on May 20, 2025 Laxmi Organic Industries Limited announced that they will report Q4, 2025 results on May 20, 2025 New Risk • Apr 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 101% This is considered a major 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 Risk Shareholders have been substantially diluted in the past year (101% increase in shares outstanding). Minor Risk Paying a dividend despite having no free cash flows. Price Target Changed • Jan 25
Price target decreased by 9.0% to ₹243 Down from ₹267, the current price target is an average from 4 analysts. New target price is 9.2% above last closing price of ₹222. Stock is down 18% over the past year. The company is forecast to post earnings per share of ₹4.80 for next year compared to ₹4.46 last year. Announcement • Jan 23
Laxmi Organic Industries Limited Announces Executive Changes Laxmi Organic Industries Limited announced the following changes in the Senior Leadership Team. Mr. Sruti Bora has tendered his resignation as Chief Transformation Officer through a letter dated October 31, 2024. He will be relieved from his duties effective close of office hours on January 27, 2025. During his tenure, Mr. Bora has played a pivotal role in driving transformative initiatives and significantly contributing to the growth and success of organisation. His strategic insights and leadership have left an indelible mark on journey. Mr. Prateek Singh has been appointed as the Chief Human Resources Officer, effective January 28, 2025. He will succeed Mr. Sruti Bora and lead the HR function. Prateek Singh is a seasoned HR professional with over 16 years of experience in strategic HR leadership. Currently the Chief Human Resources Officer at Integrace, he oversees end-to-end HR functions. Previously, he held key roles at Marico Industries, including Business HR Head for Sales & Marketing and Talent Acquisition Lead for the Middle East & Africa. He also worked at GlaxoSmithKline Consumer Healthcare and TCS E-Serve International. Prateek holds an MBA in HR from IMT Ghaziabad and a Bachelor's in Mechanical Engineering from Madan Mohan Malaviya University of Technology, India. Based in Mumbai, he specializes in talent management and organizational development. Reported Earnings • Jan 23
Third quarter 2025 earnings released: EPS: ₹1.06 (vs ₹0.99 in 3Q 2024) Third quarter 2025 results: EPS: ₹1.06 (up from ₹0.99 in 3Q 2024). Revenue: ₹7.92b (up 14% from 3Q 2024). Net income: ₹293.1m (up 7.8% from 3Q 2024). Profit margin: 3.7% (down from 3.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Jan 10
Laxmi Organic Industries Limited to Report Q3, 2025 Results on Jan 22, 2025 Laxmi Organic Industries Limited announced that they will report Q3, 2025 results on Jan 22, 2025 Buy Or Sell Opportunity • Nov 04
Now 21% undervalued Over the last 90 days, the stock has risen 8.2% to ₹269. The fair value is estimated to be ₹341, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 32%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Reported Earnings • Oct 30
Second quarter 2025 earnings released: EPS: ₹1.01 (vs ₹0.41 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.01 (up from ₹0.41 in 2Q 2024). Revenue: ₹7.78b (up 19% from 2Q 2024). Net income: ₹280.9m (up 162% from 2Q 2024). Profit margin: 3.6% (up from 1.6% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Oct 21
Laxmi Organic Industries Limited to Report Q2, 2025 Results on Oct 29, 2024 Laxmi Organic Industries Limited announced that they will report Q2, 2025 results on Oct 29, 2024 New Risk • Aug 05
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 0.2% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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. Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Announcement • Jul 18
Laxmi Organic Industries Limited to Report Q1, 2025 Results on Jul 26, 2024 Laxmi Organic Industries Limited announced that they will report Q1, 2025 results on Jul 26, 2024 Upcoming Dividend • Jul 12
Upcoming dividend of ₹0.60 per share Eligible shareholders must have bought the stock before 19 July 2024. Payment date: 29 August 2024. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.7%). Reported Earnings • Jul 10
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₹4.46 (down from ₹4.70 in FY 2023). Revenue: ₹28.7b (up 2.6% from FY 2023). Net income: ₹1.21b (down 3.2% from FY 2023). Profit margin: 4.2% (down from 4.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 1.8%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Jul 01
Laxmi Organic Industries Limited Announces Chief Financial Officer Changes Laxmi Organic Industries Limited announced that at the board meeting held on July 1, 2024, approved the resignation of Ms. Tanushree Bagrodia as Chief Financial Officer, Effective September 2, 2024. Further, based on the recommendations of the Nomination and Remuneration Committee, the Board has approved the appointment of MR. MAHADEO KARNIK as Chief Financial Officer of the Company, effective September 3, 2024. Mr. Mahadeo Karnik is a seasoned finance professional with over 28 years of post- qualification experience, boasting a wealth of knowledge and expertise in financial analysis, capital markets, corporate taxation, mergers, and acquisitions. He is renowned for his strategic acumen and has played a pivotal role in spearheading company-wide initiatives aimed at developing and implementing enhanced business models and profitable market-beating growth strategies. Throughout his career, Mr. Mahadeo has been instrumental in driving numerous automation and digitization projects crucial for organizational success. Graduating with a BCom degree from Mumbai University in 1993 and earning his Chartered Accountancy (wherein he ranked 34th nationally) and Cost Accounting qualifications in 1996, Mr. Mahadeo has continually demonstrated a commitment to excellence in his academic pursuits and professional endeavours. Mr. Mahadeo's illustrious career has seen him hold esteemed positions in various organizations, including Abbott Healthcare, Perkin Elmer India Private Limited, Roche Diagnostics India Private Limited, International Bestfoods Limited, and United Phosphorus. Mr. Mahadeo's leadership in finance has been characterized by strategic foresight, operational excellence, and a steadfast commitment to driving sustainable growth. He possesses a proven track record of success, complemented by his collaborative approach and high emotional intelligence, which positions him as a valuable asset capable of navigating complex financial landscapes and delivering impactful results in dynamic environments. With a strong domain proximity and significant manufacturing experience, Mr. Mahadeo has effectively led teams to drive cost efficiencies and enhance commercial operations. While he may not have directly led investor relations, his strategic communication skills and adept stakeholder management have earned him widespread recognition. Renowned for his humility, collaborative nature, and high emotional intelligence, Mr. Mahadeo is well- equipped to lead in diverse cultural contexts and drive transformation in dynamic environments. Declared Dividend • May 25
Dividend of ₹0.60 announced Shareholders will receive a dividend of ₹0.60. Ex-date: 19th July 2024 Payment date: 29th August 2024 Dividend yield will be 0.2%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (11% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has remained flat since 3 years ago. However, payments have been volatile during that time. EPS is expected to grow by 97% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 24
Laxmi Organic Industries Limited, Annual General Meeting, Jul 30, 2024 Laxmi Organic Industries Limited, Annual General Meeting, Jul 30, 2024. Reported Earnings • May 22
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₹4.46 (down from ₹4.70 in FY 2023). Revenue: ₹28.9b (up 3.5% from FY 2023). Net income: ₹1.21b (down 3.2% from FY 2023). Profit margin: 4.2% (down from 4.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 1.8%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • May 16
Laxmi Organic Industries Limited to Report Q4, 2024 Results on May 21, 2024 Laxmi Organic Industries Limited announced that they will report Q4, 2024 results on May 21, 2024 Announcement • Apr 30
Laxmi Organic Industries Limited Appoints Salil Mukundan as Chief Technology Officer Laxmi Organic Industries Limited announced that Mr. Salil Mukundan, has been appointed as Chief Technology Officer, in the category of Senior Management Personnel of the Company with effect from April 30, 2024 Mr. Salil Mukundan boasts a rich and diverse career spanning 34 years, during which he has contributed his expertise to several esteemed organizations including Deepak Nitrite Limited, IPCA Laboratories Limited, Arch Pharmalabs Limited, and Apte Amalgamations Limited. He has completed a Bachelor of Technology (Chemical) from the Indian Institute of Technology, Mumbai in 1989. In his most recent role, he served as the Senior Vice President Technology (Global Technology Head) at Dorfketal Chemicals India Pvt Ltd. Mr. Salil will be responsible for the project to scale up phase, technology development, evaluation & transfer as well as operational excellence across operating assets of the Company. He will lead and build capabilities to implement the technology roadmap and will be responsible for delivering CAPEXs (Projects) in line with business needs and growth strategy of the Company. Mr. Salil will be responsible for providing thought leadership and execution of Operational excellence across factories. Buy Or Sell Opportunity • Mar 14
Now 20% overvalued Over the last 90 days, the stock has fallen 19% to ₹230. The fair value is estimated to be ₹191, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 27%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 105% in the next 2 years. Reported Earnings • Jan 25
Third quarter 2024 earnings released: EPS: ₹0.99 (vs ₹1.03 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.99 (down from ₹1.03 in 3Q 2023). Revenue: ₹7.00b (up 6.9% from 3Q 2023). Net income: ₹271.9m (flat on 3Q 2023). Profit margin: 3.9% (down from 4.2% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Announcement • Jan 16
Laxmi Organic Industries Limited to Report Q3, 2024 Results on Jan 24, 2024 Laxmi Organic Industries Limited announced that they will report Q3, 2024 results on Jan 24, 2024 Price Target Changed • Nov 02
Price target decreased by 7.9% to ₹237 Down from ₹257, the current price target is an average from 4 analysts. New target price is 6.6% below last closing price of ₹254. Stock is down 20% over the past year. The company is forecast to post earnings per share of ₹5.50 for next year compared to ₹4.70 last year. Reported Earnings • Oct 27
Second quarter 2024 earnings released: EPS: ₹0.41 (vs ₹0.32 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.41 (up from ₹0.32 in 2Q 2023). Revenue: ₹6.60b (up 1.3% from 2Q 2023). Net income: ₹107.1m (up 25% from 2Q 2023). Profit margin: 1.6% (up from 1.3% in 2Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in India. Announcement • Oct 18
Laxmi Organic Industries Limited to Report First Half, 2024 Results on Oct 26, 2023 Laxmi Organic Industries Limited announced that they will report first half, 2024 results on Oct 26, 2023 Announcement • Oct 14
Laxmi Organic Industries Limited Announces Resignation of Mr. Bhagwati Prasad Pant as Executive Vice President - Business Development, Effective October 25, 2023 Laxmi Organic Industries Limited informed in accordance with the provisions of Regulation 30(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that Mr. Bhagwati Prasad Pant vide letter dated September 29, 2023, tendered his resignation as Executive Vice President - Business Development (P & A) of the Company due to personal aspirations and career growth. The Company has accepted his resignation, and he will be relieved from his duties on October 25, 2023. New Risk • Oct 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.8% 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 Profit margins are more than 30% lower than last year (3.6% net profit margin). Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Upcoming Dividend • Jul 14
Upcoming dividend of ₹0.50 per share at 0.2% yield Eligible shareholders must have bought the stock before 21 July 2023. Payment date: 02 September 2023. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.9%). Announcement • Jul 13
Laxmi Organic Industries Limited, Annual General Meeting, Aug 03, 2023 Laxmi Organic Industries Limited, Annual General Meeting, Aug 03, 2023, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt the audited standalone financial statement of the company for the financial year ended march 31, 2023, the reports of the Board of Directors and Auditors thereon; and the audited consolidated financial statement of the company for the financial year ended March 31, 2023, the reports of the auditors thereon and in this connection, ; to declare final dividend on equity shares and in this connection; to appoint Director in place of Mr. Harshvardhan Goenka who retires by rotation and being eligible, offers himself for re-appointment and in this connection; to approve the appointment of Deloitte Haskins & Sells LLP, Chartered Accountants as Statutory Auditors of the company, in this connection; and to discuss other matters. Price Target Changed • May 18
Price target decreased by 14% to ₹281 Down from ₹327, the current price target is an average from 3 analysts. New target price is 13% above last closing price of ₹248. Stock is down 28% over the past year. The company is forecast to post earnings per share of ₹8.93 for next year compared to ₹4.70 last year. Price Target Changed • May 16
Price target decreased by 7.7% to ₹305 Down from ₹331, the current price target is an average from 3 analysts. New target price is 18% above last closing price of ₹259. Stock is down 29% over the past year. The company is forecast to post earnings per share of ₹10.73 for next year compared to ₹4.70 last year. Reported Earnings • May 14
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ₹4.70 (down from ₹9.72 in FY 2022). Revenue: ₹28.1b (down 8.9% from FY 2022). Net income: ₹1.25b (down 51% from FY 2022). Profit margin: 4.4% (down from 8.3% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates by 30%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in India. Announcement • May 13
Laxmi Organic Industries Limited Recommends Final Dividend for the Year Ended March 31, 2023 Laxmi Organic Industries Limited announced that at its board meeting held on May 12, 2023, the board of Directors has recommended final dividend of INR 0.50/- per share of the face value of INR 2/- each (that is 25% of the face value) which is subject to approval by the Members of the company at the forthcoming 34th Annual General Meeting. Announcement • May 06
Laxmi Organic Industries Limited to Report Q4, 2023 Results on May 12, 2023 Laxmi Organic Industries Limited announced that they will report Q4, 2023 results on May 12, 2023 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹257, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 23x in the Chemicals industry in India. Total loss to shareholders of 45% over the past year. Reported Earnings • Jan 25
Third quarter 2023 earnings released: EPS: ₹1.03 (vs ₹3.11 in 3Q 2022) Third quarter 2023 results: EPS: ₹1.03 (down from ₹3.11 in 3Q 2022). Revenue: ₹6.58b (down 24% from 3Q 2022). Net income: ₹272.3m (down 67% from 3Q 2022). Profit margin: 4.1% (down from 9.5% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Announcement • Jan 17
Laxmi Organic Industries Limited to Report Q3, 2023 Results on Jan 24, 2023 Laxmi Organic Industries Limited announced that they will report Q3, 2023 results on Jan 24, 2023 Price Target Changed • Dec 23
Price target decreased to ₹348 Down from ₹620, the current price target is an average from 3 analysts. New target price is 25% above last closing price of ₹278. Stock is down 30% over the past year. The company is forecast to post earnings per share of ₹8.80 for next year compared to ₹9.72 last year. Announcement • Oct 20
Laxmi Organic Industries Limited to Report Q2, 2023 Results on Nov 08, 2022 Laxmi Organic Industries Limited announced that they will report Q2, 2023 results on Nov 08, 2022 Announcement • Sep 24
Laxmi Organic Industries Limited Announces Shutdown for Twenty-One Days from August 21, 2022 to September 10, 2022 Laxmi Organic Industries Limited announced that company's plants located at Mahad Industrial Area, MIDC, Raigad 402 309, Maharashtra, India have been shut down for twenty-one (21) days from August 21, 2022 to September 10, 2022 to undertake and attend the planned maintenance activities. The maintenance work is complete now and the plants have started the operations in staggered manner. The company will continue to increase capacity utilisation in next few weeks. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 16% share price gain to ₹326, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 24x in the Chemicals industry in India. Total returns to shareholders of 29% over the past year. Upcoming Dividend • Jul 11
Upcoming dividend of ₹0.70 per share Eligible shareholders must have bought the stock before 18 July 2022. Payment date: 28 August 2022. Payout ratio is a comfortable 7.2% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (0.8%). Reported Earnings • Jul 09
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹9.72 (up from ₹5.59 in FY 2021). Revenue: ₹30.8b (up 74% from FY 2021). Net income: ₹2.56b (up 102% from FY 2021). Profit margin: 8.3% (up from 7.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 16%, compared to a 17% growth forecast for the industry in India. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹357, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 23x in the Chemicals industry in India. Total returns to shareholders of 61% over the past year. Reported Earnings • May 06
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹9.72 (up from ₹5.59 in FY 2021). Revenue: ₹31.0b (up 75% from FY 2021). Net income: ₹2.56b (up 102% from FY 2021). Profit margin: 8.3% (up from 7.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 16%, compared to a 21% growth forecast for the industry in India. Price Target Changed • Apr 27
Price target increased to ₹620 Up from ₹110, the current price target is provided by 1 analyst. New target price is 49% above last closing price of ₹415. Stock is up 98% over the past year. The company is forecast to post earnings per share of ₹11.57 for next year compared to ₹5.59 last year. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 16% share price gain to ₹465, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 28x in the Chemicals industry in India. Total returns to shareholders of 134% over the past year. Announcement • Feb 17
Laxmi Organic Industries Limited (BSE:543277) agreed to acquire a 26% stake in Radiance Mh Sunrise Seven Private Limited from Radiance Renewables Private Limited for INR 15.1 million. Laxmi Organic Industries Limited (BSE:543277) agreed to acquire a 26% stake in Radiance Mh Sunrise Seven Private Limited from Radiance Renewables Private Limited for INR 15.1 million on February 15, 2022. The consideration will be paid in cash. The transaction is expected to be closed by March 11, 2022. Major Estimate Revision • Feb 08
Consensus revenue estimates increase by 31% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from ₹23.8b to ₹31.3b. EPS estimate increased from ₹8.64 to ₹11.57 per share. Net income forecast to grow 22% next year vs 21% growth forecast for Chemicals industry in India. Consensus price target of ₹388 unchanged from last update. Share price was steady at ₹453 over the past week. Reported Earnings • Feb 04
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: ₹3.11 (up from ₹1.56 in 3Q 2021). Revenue: ₹8.60b (up 66% from 3Q 2021). Net income: ₹820.8m (up 126% from 3Q 2021). Profit margin: 9.5% (up from 7.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 43%. Over the next year, revenue is forecast to grow 12%, compared to a 21% growth forecast for the industry in India. Reported Earnings • Jul 07
Full year 2021 earnings released: EPS ₹5.59 (vs ₹2.87 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹17.7b (up 15% from FY 2020). Net income: ₹1.27b (up 81% from FY 2020). Profit margin: 7.2% (up from 4.6% in FY 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improved over the past week After last week's 15% share price gain to ₹255, the stock trades at a forward P/E ratio of 53x. Average forward P/E is 32x in the Chemicals industry in India. Announcement • May 28
Laxmi Organic Industries Limited Recommends Dividend The Board of Directors of Laxmi Organic Industries Limited at their meeting held on May 25, 2021 have recommended dividend of INR 0.50 per share of the face value of INR 2 each (i.e. 25% of the face value) which is subject to approval by the Members of the Company at the forthcoming 32" Annual General Meeting. Reported Earnings • May 28
Full year 2021 earnings released: EPS ₹5.59 (vs ₹2.86 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹17.7b (up 15% from FY 2020). Net income: ₹1.27b (up 81% from FY 2020). Profit margin: 7.2% (up from 4.6% in FY 2020). The increase in margin was driven by higher revenue. Announcement • May 26
Laxmi Organic Industries Limited Recommends Final Dividend, July 15, 2021 The Board of Directors of Laxmi Organic Industries Limited has recommended final dividend of INR 0.50 per share of the face value of 2 each (that is 25% of the face value) which is subject to approval by the Members of the Company at the forthcoming 32nd Annual General Meeting. As per Regulation 42 of the Listing Regulations, the Record Date for the purpose of eligibility for payment of Dividend shall be July 15, 2021 if declared at the forthcoming 32nd Annual General Meeting. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improved over the past week After last week's 15% share price gain to ₹210, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 32x in the Chemicals industry in India. 
