New Risk • Aug 15
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: -1,983% Last year net profit margin: 20% 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 Revenue is less than US$1m. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (-1,983% net profit margin). Reported Earnings • Aug 15
First quarter 2027 earnings released: EPS: ₹8.85 (vs ₹10.84 in 1Q 2026) First quarter 2027 results: EPS: ₹8.85 (down from ₹10.84 in 1Q 2026). Net income: ₹438.5m (down 18% from 1Q 2026). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Aug 01
GOCL Corporation Limited to Report Q1, 2027 Results on Aug 13, 2026 GOCL Corporation Limited announced that they will report Q1, 2027 results on Aug 13, 2026 New Risk • Jun 24
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ₹98m (US$1.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Revenue is less than US$5m (₹98m revenue, or US$1.0m). Announcement • May 29
GOCL Corporation Limited Recommends Final Dividend for the Financial Year Ended March 31, 2026 GOCL Corporation Limited at its meeting held on May 29, 2026, Recommended a Dividend of INR 30 per share (1500%) for the financial year Ended March 31, 2026. The said Dividend (final dividend) shall be paid to the eligible shareholders within thirty (30) days from the date of approval of the Shareholders at the ensuing Annual General Meeting (AGM) of the Company, subject to deduction of applicable tax. Buy Or Sell Opportunity • May 26
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 49% to ₹378. The fair value is estimated to be ₹292, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has declined by 13%. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹346, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 22x in the Chemicals industry in India. Total returns to shareholders of 16% over the past three years. Announcement • May 19
GOCL Corporation Limited to Report Q4, 2026 Results on May 29, 2026 GOCL Corporation Limited announced that they will report Q4, 2026 results on May 29, 2026 New Risk • May 04
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 8.7% 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 (8.7% average weekly change). Large one-off items impacting financial results. Buy Or Sell Opportunity • Apr 20
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to ₹338. The fair value is estimated to be ₹278, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has declined by 13%. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹324, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 22x in the Chemicals industry in India. Total returns to shareholders of 3.0% over the past three years. New Risk • Mar 30
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). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹283, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 4.1% over the past three years. Reported Earnings • Feb 13
Third quarter 2026 earnings released: EPS: ₹33.01 (vs ₹18.64 in 3Q 2025) Third quarter 2026 results: EPS: ₹33.01 (up from ₹18.64 in 3Q 2025). Revenue: ₹2.05b (up 48% from 3Q 2025). Net income: ₹1.64b (up 77% from 3Q 2025). Profit margin: 80% (up from 67% in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 8% per year. Announcement • Jan 21
GOCL Corporation Limited to Report Q3, 2026 Results on Feb 11, 2026 GOCL Corporation Limited announced that they will report Q3, 2026 results on Feb 11, 2026 New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings have declined by 2.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.6% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Nov 15
Second quarter 2026 earnings released: EPS: ₹4.50 (vs ₹1.10 in 2Q 2025) Second quarter 2026 results: EPS: ₹4.50 (up from ₹1.10 in 2Q 2025). Revenue: ₹557.0m (down 56% from 2Q 2025). Net income: ₹222.9m (up 310% from 2Q 2025). Profit margin: 40% (up from 4.3% in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Nov 08
GOCL Corporation Limited to Report Q2, 2026 Results on Nov 13, 2025 GOCL Corporation Limited announced that they will report Q2, 2026 results on Nov 13, 2025 Reported Earnings • Aug 13
First quarter 2026 earnings released: EPS: ₹10.84 (vs ₹7.31 in 1Q 2025) First quarter 2026 results: EPS: ₹10.84 (up from ₹7.31 in 1Q 2025). Revenue: ₹865.0m (down 50% from 1Q 2025). Net income: ₹537.2m (up 48% from 1Q 2025). Profit margin: 62% (up from 21% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Aug 09
GOCL Corporation Limited to Report Q1, 2026 Results on Aug 12, 2025 GOCL Corporation Limited announced that they will report Q1, 2026 results on Aug 12, 2025 Upcoming Dividend • Jul 18
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 25 July 2025. Payment date: 31 August 2025. Payout ratio is a comfortable 53% but the company is paying out more than the cash it is generating. Trailing yield: 2.5%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.7%). Reported Earnings • Jul 11
Full year 2025 earnings released: EPS: ₹18.71 (vs ₹9.05 in FY 2024) Full year 2025 results: EPS: ₹18.71 (up from ₹9.05 in FY 2024). Revenue: ₹5.55b (down 9.1% from FY 2024). Net income: ₹927.6m (up 107% from FY 2024). Profit margin: 17% (up from 7.3% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Jul 08
GOCL Corporation Limited, Annual General Meeting, Aug 01, 2025 GOCL Corporation Limited, Annual General Meeting, Aug 01, 2025, at 12:00 Indian Standard Time. New Risk • Jun 09
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 6.3% 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 Risk Debt is not well covered by operating cash flow (1.4% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 53x cash flows per share). Share price has been volatile over the past 3 months (6.3% average weekly change). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹379, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 28x in the Chemicals industry in India. Total returns to shareholders of 58% over the past three years. Reported Earnings • May 23
Full year 2025 earnings released: EPS: ₹31.71 (vs ₹9.73 in FY 2024) Full year 2025 results: EPS: ₹31.71 (up from ₹9.73 in FY 2024). Revenue: ₹8.44b (up 18% from FY 2024). Net income: ₹927.7m (up 92% from FY 2024). Profit margin: 11% (up from 6.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • May 16
GOCL Corporation Limited to Report Q4, 2025 Results on May 22, 2025 GOCL Corporation Limited announced that they will report Q4, 2025 results on May 22, 2025 Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹315, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 26x in the Chemicals industry in India. Total returns to shareholders of 37% over the past three years. Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: ₹18.64 (vs ₹3.12 in 3Q 2024) Third quarter 2025 results: EPS: ₹18.64 (up from ₹3.12 in 3Q 2024). Revenue: ₹3.28b (up 96% from 3Q 2024). Net income: ₹924.0m (up 499% from 3Q 2024). Profit margin: 28% (up from 9.2% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Jan 16
GOCL Corporation Limited to Report Q3, 2025 Results on Feb 13, 2025 GOCL Corporation Limited announced that they will report Q3, 2025 results on Feb 13, 2025 Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹407, the stock trades at a trailing P/E ratio of 32.5x. Average trailing P/E is 32x in the Chemicals industry in India. Total returns to shareholders of 35% over the past three years. New Risk • Nov 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 135% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Announcement • Nov 13
GOCL Corporation Limited Announces Executive Changes GOCL Corporation Limited announced that Mr. Renati Ashok, Head-Electronics Manufacturing Service has resigned from the services of the Company, effective from the close of November 12, 2024. Company vide earlier letter dated August 7, 2024 had already informed the appointment of Mr. Kalyana Ram Putrevu as Head of the Electronics Group. Reported Earnings • Nov 12
Second quarter 2025 earnings released: EPS: ₹1.10 (vs ₹3.17 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.10 (down from ₹3.17 in 2Q 2024). Revenue: ₹1.86b (up 14% from 2Q 2024). Net income: ₹54.4m (down 65% from 2Q 2024). Profit margin: 2.9% (down from 9.6% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Oct 17
GOCL Corporation Limited to Report Q2, 2025 Results on Nov 08, 2024 GOCL Corporation Limited announced that they will report Q2, 2025 results on Nov 08, 2024 Declared Dividend • Sep 04
Dividend of ₹4.00 announced Shareholders will receive a dividend of ₹4.00. Ex-date: 17th September 2024 Payment date: 24th October 2024 Dividend yield will be 0.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (41% earnings payout ratio) and cash flows (81% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 02
GOCL Corporation Limited, Annual General Meeting, Sep 24, 2024 GOCL Corporation Limited, Annual General Meeting, Sep 24, 2024, at 15:00 Indian Standard Time. Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: ₹7.31 (vs ₹2.45 in 1Q 2024) First quarter 2025 results: EPS: ₹7.31 (up from ₹2.45 in 1Q 2024). Revenue: ₹2.94b (up 49% from 1Q 2024). Net income: ₹362.5m (up 198% from 1Q 2024). Profit margin: 12% (up from 6.2% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Jul 25
GOCL Corporation Limited to Report Q1, 2025 Results on Aug 13, 2024 GOCL Corporation Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹411, the stock trades at a trailing P/E ratio of 42.1x. Average trailing P/E is 31x in the Chemicals industry in India. Total returns to shareholders of 59% over the past three years. Reported Earnings • May 25
Full year 2024 earnings released: EPS: ₹9.73 (vs ₹42.60 in FY 2023) Full year 2024 results: EPS: ₹9.73 (down from ₹42.60 in FY 2023). Revenue: ₹9.49b (up 3.1% from FY 2023). Net income: ₹482.5m (down 77% from FY 2023). Profit margin: 5.1% (down from 23% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • May 10
GOCL Corporation Limited to Report Q4, 2024 Results on May 23, 2024 GOCL Corporation Limited announced that they will report Q4, 2024 results on May 23, 2024 Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹472, the stock trades at a trailing P/E ratio of 41x. Average trailing P/E is 28x in the Chemicals industry in India. Total returns to shareholders of 122% over the past three years. New Risk • Mar 28
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 8.8% 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: Major Risk Debt is not well covered by operating cash flow (8.2% operating cash flow to total debt). 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 (8.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.4% net profit margin). Announcement • Mar 22
GOCL Corporation Limited Announces Resignation of Gopal Raman as Non-Executive and Non-Independent Director GOCL Corporation Limited announced that Mr. Gopal Raman, a Non-Executive and Non-Independent Director of the Company has tendered his resignation with immediate effect for personal reasons. Date of cessation: 21 March, 2024. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: ₹3.12 (vs ₹6.45 in 3Q 2023) Third quarter 2024 results: EPS: ₹3.12 (down from ₹6.45 in 3Q 2023). Revenue: ₹2.30b (down 7.5% from 3Q 2023). Net income: ₹154.4m (down 52% from 3Q 2023). Profit margin: 6.7% (down from 13% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 18
GOCL Corporation Limited to Report Q3, 2024 Results on Feb 13, 2024 GOCL Corporation Limited announced that they will report Q3, 2024 results on Feb 13, 2024 Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: ₹3.17 (vs ₹8.15 in 2Q 2023) Second quarter 2024 results: EPS: ₹3.17 (down from ₹8.15 in 2Q 2023). Revenue: ₹1.63b (down 16% from 2Q 2023). Net income: ₹157.2m (down 61% from 2Q 2023). Profit margin: 9.6% (down from 21% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 28
GOCL Corporation Limited to Report Q2, 2024 Results on Nov 07, 2023 GOCL Corporation Limited announced that they will report Q2, 2024 results on Nov 07, 2023 Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹496, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 27x in the Chemicals industry in India. Total returns to shareholders of 191% over the past three years. Upcoming Dividend • Sep 07
Upcoming dividend of ₹10.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 21 October 2023. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 2.2%. Within top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (0.8%). Announcement • Aug 19
Gocl Corporation Limited Announces Resignation of Mr. B.V.Rajeev as Head of Human Resources Gocl Corporation Limited announced resignation of Mr. B.V.Rajeev as Head of Human Resources. Effective close of business hours on August 18,2023. Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: ₹2.45 (vs ₹25.22 in 1Q 2023) First quarter 2024 results: EPS: ₹2.45 (down from ₹25.22 in 1Q 2023). Revenue: ₹1.97b (down 17% from 1Q 2023). Net income: ₹121.6m (down 90% from 1Q 2023). Profit margin: 6.2% (down from 53% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Announcement • Aug 12
GOCL Corporation Limited, Annual General Meeting, Sep 21, 2023 GOCL Corporation Limited, Annual General Meeting, Sep 21, 2023. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹458, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 23x in the Chemicals industry in India. Total returns to shareholders of 165% over the past three years. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹383, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 22x in the Chemicals industry in India. Total returns to shareholders of 152% over the past three years. Reported Earnings • Jun 01
Full year 2023 earnings released: EPS: ₹42.59 (vs ₹35.52 in FY 2022) Full year 2023 results: EPS: ₹42.59 (up from ₹35.52 in FY 2022). Revenue: ₹14.1b (up 183% from FY 2022). Net income: ₹2.11b (up 20% from FY 2022). Profit margin: 15% (down from 35% in FY 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 28% per year, which means it is significantly lagging earnings growth. Announcement • May 19
GOCL Corporation Limited to Report Q4, 2023 Results on May 30, 2023 GOCL Corporation Limited announced that they will report Q4, 2023 results at 3:30 PM, Indian Standard Time on May 30, 2023 Reported Earnings • Feb 09
Third quarter 2023 earnings released: EPS: ₹6.45 (vs ₹1.43 in 3Q 2022) Third quarter 2023 results: EPS: ₹6.45 (up from ₹1.43 in 3Q 2022). Revenue: ₹3.02b (up 186% from 3Q 2022). Net income: ₹319.8m (up 351% from 3Q 2022). Profit margin: 11% (up from 6.7% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Jan 12
GOCL Corporation Limited to Report Q3, 2023 Results on Feb 08, 2023 GOCL Corporation Limited announced that they will report Q3, 2023 results on Feb 08, 2023 Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹334, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improved over the past week After last week's 22% share price gain to ₹349, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 20% over the past three years. Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: ₹8.15 (vs ₹0.43 in 2Q 2022) Second quarter 2023 results: EPS: ₹8.15 (up from ₹0.43 in 2Q 2022). Revenue: ₹3.19b (up 162% from 2Q 2022). Net income: ₹403.7m (up ₹382.5m from 2Q 2022). Profit margin: 13% (up from 1.7% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: ₹8.15 (vs ₹0.43 in 2Q 2022) Second quarter 2023 results: EPS: ₹8.15 (up from ₹0.43 in 2Q 2022). Revenue: ₹3.19b (up 162% from 2Q 2022). Net income: ₹403.7m (up ₹382.5m from 2Q 2022). Profit margin: 13% (up from 1.7% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: ₹25.22 (vs ₹4.76 in 1Q 2022) First quarter 2023 results: EPS: ₹25.22 (up from ₹4.76 in 1Q 2022). Revenue: ₹4.87b (up 243% from 1Q 2022). Net income: ₹1.25b (up 429% from 1Q 2022). Profit margin: 26% (up from 17% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 11
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 18 July 2022. Payment date: 26 August 2022. Payout ratio is a comfortable 8.4% but the company is not cash flow positive. Trailing yield: 1.8%. Within top quartile of Indian dividend payers (1.8%). Higher than average of industry peers (0.8%). Reported Earnings • Jul 05
Full year 2022 earnings released Full year 2022 results: Revenue: ₹4.98b (up 20% from FY 2021). Net income: ₹1.76b (up 124% from FY 2021). Profit margin: 35% (up from 19% in FY 2021). Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improved over the past week After last week's 22% share price gain to ₹273, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 17x in the Chemicals industry in India. Total returns to shareholders of 6.2% over the past three years. Reported Earnings • May 30
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹35.52 (up from ₹15.88 in FY 2021). Revenue: ₹4.98b (up 20% from FY 2021). Net income: ₹1.76b (up 124% from FY 2021). Profit margin: 35% (up from 19% in FY 2021). Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improved over the past week After last week's 16% share price gain to ₹285, 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 loss to shareholders of 3.8% over the past three years. Reported Earnings • Feb 11
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: ₹1.43 (down from ₹3.15 in 3Q 2021). Revenue: ₹1.38b (up 41% from 3Q 2021). Net income: ₹70.9m (down 55% from 3Q 2021). Profit margin: 5.1% (down from 16% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Second quarter 2022 earnings released: EPS ₹0.43 (vs ₹3.52 in 2Q 2021) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹1.46b (up 51% from 2Q 2021). Net income: ₹21.2m (down 88% from 2Q 2021). Profit margin: 1.5% (down from 18% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.