New Risk • Aug 10
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 7.4% 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 Earnings have declined by 4.7% per year over the past 5 years. High level of non-cash earnings (23% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (₹2.14b market cap, or US$22.4m). Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Niren Desai was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jun 03
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 4.7% per year over the past 5 years. High level of non-cash earnings (23% accrual ratio). Minor Risk Market cap is less than US$100m (₹1.95b market cap, or US$20.4m). Reported Earnings • Jun 03
Full year 2026 earnings released: EPS: ₹6.28 (vs ₹3.12 in FY 2025) Full year 2026 results: EPS: ₹6.28 (up from ₹3.12 in FY 2025). Revenue: ₹1.07b (up 20% from FY 2025). Net income: ₹51.5m (up 103% from FY 2025). Profit margin: 4.8% (up from 2.8% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings have declined by 11% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Market cap is less than US$100m (₹1.95b market cap, or US$20.5m). Announcement • May 23
Mahickra Chemicals Limited to Report Second Half, 2026 Results on May 26, 2026 Mahickra Chemicals Limited announced that they will report second half, 2026 results on May 26, 2026 New Risk • Jan 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (8.6% average weekly change). Earnings have declined by 11% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹1.29b market cap, or US$14.2m). New Risk • Dec 19
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 6.9% 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 Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings have declined by 11% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (₹1.28b market cap, or US$14.1m). Announcement • Nov 12
Mahickra Chemicals Limited to Report First Half, 2026 Results on Nov 12, 2025 Mahickra Chemicals Limited announced that they will report first half, 2026 results on Nov 12, 2025 Announcement • Aug 22
Mahickra Chemicals Limited, Annual General Meeting, Sep 19, 2025 Mahickra Chemicals Limited, Annual General Meeting, Sep 19, 2025, at 15:00 Indian Standard Time. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹137, the stock trades at a trailing P/E ratio of 57.6x. Average trailing P/E is 26x in the Chemicals industry in India. Total returns to shareholders of 88% over the past three years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹106, the stock trades at a trailing P/E ratio of 44.4x. Average trailing P/E is 24x in the Chemicals industry in India. Total returns to shareholders of 29% over the past three years. New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.5% 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 Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings have declined by 8.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Significant insider selling over the past 3 months (₹8.2m sold). Market cap is less than US$100m (₹908.5m market cap, or US$10.6m). Recent Insider Transactions • Dec 18
Whole-Time Director recently sold ₹4.0m worth of stock On the 16th of December, Ashish Kumar Gandhi sold around 41k shares on-market at roughly ₹98.00 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹4.1m. Insiders have been net sellers, collectively disposing of ₹37m more than they bought in the last 12 months. Recent Insider Transactions • Dec 07
Whole-Time Director recently sold ₹4.1m worth of stock On the 3rd of December, Ashish Kumar Gandhi sold around 41k shares on-market at roughly ₹99.53 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹33m more than they bought in the last 12 months. Recent Insider Transactions • Nov 28
Whole-Time Director recently sold ₹4.0m worth of stock On the 25th of November, Ashish Kumar Gandhi sold around 41k shares on-market at roughly ₹99.50 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹29m more than they bought in the last 12 months. New Risk • Nov 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹839.0m (US$9.98m) This is considered a major risk. Companies with a small market capitalization 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: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 8.1% per year over the past 5 years. Market cap is less than US$10m (₹839.0m market cap, or US$9.98m). Minor Risks Dividend is not well covered by earnings (0% payout ratio). Significant insider selling over the past 3 months (₹8.7m sold). Recent Insider Transactions • Nov 03
Whole-Time Director recently sold ₹3.8m worth of stock On the 28th of October, Ashish Kumar Gandhi sold around 38k shares on-market at roughly ₹100 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹5.0m. Insiders have been net sellers, collectively disposing of ₹23m more than they bought in the last 12 months. Reported Earnings • Oct 27
First half 2025 earnings released: EPS: ₹1.66 (vs ₹0.60 in 1H 2024) First half 2025 results: EPS: ₹1.66 (up from ₹0.60 in 1H 2024). Revenue: ₹451.3m (up 21% from 1H 2024). Net income: ₹13.5m (up 176% from 1H 2024). Profit margin: 3.0% (up from 1.3% in 1H 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. New Risk • Oct 25
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 0% The company is paying a dividend despite having no free cash flows. Dividend yield: 0.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (11% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Earnings have declined by 8.1% per year over the past 5 years. Minor Risks Significant insider selling over the past 3 months (₹5.0m sold). Market cap is less than US$100m (₹893.4m market cap, or US$10.6m). Announcement • Aug 28
Mahickra Chemicals Limited, Annual General Meeting, Sep 21, 2024 Mahickra Chemicals Limited, Annual General Meeting, Sep 21, 2024, at 14:00 Indian Standard Time. Recent Insider Transactions • Aug 20
Whole-Time Director recently sold ₹5.0m worth of stock On the 13th of August, Ashishkumar Gandhi sold around 50k shares on-market at roughly ₹100 per share. This transaction amounted to 2.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹7.7m. Insiders have been net sellers, collectively disposing of ₹16m more than they bought in the last 12 months. Recent Insider Transactions • Jul 30
Whole-Time Director recently sold ₹7.7m worth of stock On the 25th of July, Ashishkumar Gandhi sold around 77k shares on-market at roughly ₹101 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹11m more than they bought in the last 12 months. New Risk • Jul 06
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₹4.3m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Earnings have declined by 1.7% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.4% net profit margin). Significant insider selling over the past 3 months (₹4.3m sold). Market cap is less than US$100m (₹835.4m market cap, or US$10.0m). Recent Insider Transactions • Jul 05
Whole-Time Director recently sold ₹599k worth of stock On the 1st of July, Komal Gandhi sold around 6k shares on-market at roughly ₹99.75 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹1.1m. Despite this recent sale, insiders have collectively bought ₹6.6m more than they sold in the last 12 months. New Risk • Jun 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹820.3m (US$9.84m) This is considered a major risk. Companies with a small market capitalization 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: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Earnings have declined by 1.7% per year over the past 5 years. Market cap is less than US$10m (₹820.3m market cap, or US$9.84m). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.4% net profit margin). Recent Insider Transactions • Jun 25
Whole-Time Director recently sold ₹311k worth of stock On the 20th of June, Komal Gandhi sold around 3k shares on-market at roughly ₹103 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹533k. Despite this recent sale, insiders have collectively bought ₹9.5m more than they sold in the last 12 months. Recent Insider Transactions • Jun 19
Chairman & MD recently sold ₹533k worth of stock On the 13th of June, Miteshkumar Gandhi sold around 5k shares on-market at roughly ₹102 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Miteshkumar has been a net buyer over the last 12 months, purchasing a net total of ₹6.5m worth of shares. Reported Earnings • May 21
Full year 2024 earnings released: EPS: ₹1.32 (vs ₹4.05 in FY 2023) Full year 2024 results: EPS: ₹1.32 (down from ₹4.05 in FY 2023). Revenue: ₹741.9m (down 30% from FY 2023). Net income: ₹10.7m (down 67% from FY 2023). Profit margin: 1.4% (down from 3.1% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Recent Insider Transactions • Mar 22
Chairman & MD recently bought ₹1.3m worth of stock On the 19th of March, Miteshkumar Gandhi bought around 11k shares on-market at roughly ₹126 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹7.0m worth in shares. New Risk • Mar 13
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 8.3% 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 (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (₹1.05b market cap, or US$12.7m). New Risk • Feb 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.6% 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 (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (₹1.05b market cap, or US$12.7m). Recent Insider Transactions • Feb 01
Chairman & MD recently bought ₹931k worth of stock On the 24th of January, Miteshkumar Gandhi bought around 8k shares on-market at roughly ₹124 per share. This transaction amounted to 5.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹5.4m worth in shares. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹137, the stock trades at a trailing P/E ratio of 50.9x. Average trailing P/E is 30x in the Chemicals industry in India. Total returns to shareholders of 77% over the past three years. Recent Insider Transactions • Dec 27
Whole-Time Director recently bought ₹157k worth of stock On the 19th of December, Komal Gandhi bought around 2k shares on-market at roughly ₹105 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹9.6m more in shares than they have sold in the last 12 months. Reported Earnings • Nov 21
First half 2024 earnings released: EPS: ₹0.60 (vs ₹1.95 in 1H 2023) First half 2024 results: EPS: ₹0.60 (down from ₹1.95 in 1H 2023). Revenue: ₹372.4m (down 34% from 1H 2023). Net income: ₹4.87m (down 69% from 1H 2023). Profit margin: 1.3% (down from 2.8% in 1H 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. New Risk • Nov 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Market cap is less than US$10m (₹814.7m market cap, or US$9.79m). Recent Insider Transactions • Sep 23
Whole-Time Director recently bought ₹500k worth of stock On the 21st of September, Ashishkumar Gandhi bought around 6k shares on-market at roughly ₹83.36 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹510k. Insiders have collectively bought ₹9.5m more in shares than they have sold in the last 12 months. Announcement • Aug 08
Mahickra Chemicals Limited, Annual General Meeting, Aug 29, 2023 Mahickra Chemicals Limited, Annual General Meeting, Aug 29, 2023, at 15:00 Indian Standard Time. Location: Plot no.1201-1202, Phase-3 G.I.D.C., Vatva, Ahmedabad-382445, Gujarat, Gujarat India Agenda: To appoint a director in place of Mr. Miteshkumar Champaklal Gandhi, who retires by rotation and being eligible, offers himself for re-appointment as a Director; To receive, consider and adopt the Audited Balance Sheet as at 31st March, 2023, Statement of Profits & Loss and together with Cash Flow Statement and Notes forming part thereto of the Company for the financial year ended 31st March, 2023 and the Reports of the Board of Directors and the Auditors thereon; To consider Appointment of Mr. Niren Atinbhai Desai as an Independent Director of the Company. Recent Insider Transactions • Jul 19
Chairman & MD recently bought ₹124k worth of stock On the 17th of July, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹82.50 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹747k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹7.3m worth in shares. New Risk • Jul 14
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 7.2% 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 Market cap is less than US$10m (₹747.2m market cap, or US$9.11m). 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 (7.2% average weekly change). Recent Insider Transactions • Jul 02
Chairman & MD recently bought ₹251k worth of stock On the 30th of June, Miteshkumar Gandhi bought around 3k shares on-market at roughly ₹83.82 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹747k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹6.1m worth in shares. Recent Insider Transactions • Jun 21
Whole-Time Director recently bought ₹125k worth of stock On the 16th of June, Ashishkumar Gandhi bought around 2k shares on-market at roughly ₹83.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹303k. Insiders have collectively bought ₹10m more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 29
Chairman & MD recently bought ₹134k worth of stock On the 26th of May, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹89.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹303k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹5.5m worth in shares. Recent Insider Transactions • Mar 17
Chairman & MD recently bought ₹148k worth of stock On the 14th of March, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹98.85 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹495k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹4.5m worth in shares. Recent Insider Transactions • Feb 12
Whole-Time Director recently bought ₹148k worth of stock On the 7th of February, Komal Gandhi bought around 2k shares on-market at roughly ₹98.70 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹495k. Insiders have collectively bought ₹11m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹99.50, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 12% over the past three years. Recent Insider Transactions • Jan 05
Chairman & MD recently bought ₹127k worth of stock On the 2nd of January, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹84.55 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹368k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹4.5m worth in shares. Recent Insider Transactions • Dec 27
Chairman & MD recently bought ₹368k worth of stock On the 23rd of December, Miteshkumar Gandhi bought around 5k shares on-market at roughly ₹81.81 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹440k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹4.5m worth in shares. Recent Insider Transactions • Dec 03
Chairman & MD recently bought ₹111k worth of stock On the 1st of December, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹74.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹440k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹4.1m worth in shares. Recent Insider Transactions • Nov 23
Chairman & MD recently bought ₹112k worth of stock On the 17th of November, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹74.40 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹440k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹4.1m worth in shares. Reported Earnings • Nov 05
First half 2023 earnings released: EPS: ₹1.95 (vs ₹2.05 in 1H 2022) First half 2023 results: EPS: ₹1.95 (down from ₹2.05 in 1H 2022). Revenue: ₹563.4m (up 29% from 1H 2022). Net income: ₹15.9m (down 4.8% from 1H 2022). Profit margin: 2.8% (down from 3.8% in 1H 2022). 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 fallen by 7% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Sep 10
Whole-Time Director recently bought ₹214k worth of stock On the 8th of September, Ashishkumar Gandhi bought around 3k shares on-market at roughly ₹71.20 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹219k. Insiders have collectively bought ₹11m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 27
Whole-Time Director recently bought ₹100k worth of stock On the 24th of August, Ashishkumar Gandhi bought around 2k shares on-market at roughly ₹66.70 per share. In the last 3 months, they made an even bigger purchase worth ₹219k. Insiders have collectively bought ₹12m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 23
Whole-Time Director recently bought ₹106k worth of stock On the 16th of August, Ashishkumar Gandhi bought around 2k shares on-market at roughly ₹70.40 per share. In the last 3 months, they made an even bigger purchase worth ₹219k. Insiders have collectively bought ₹12m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jul 11
Whole-Time Director recently bought ₹216k worth of stock On the 8th of July, Ashishkumar Gandhi bought around 3k shares on-market at roughly ₹71.90 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹10m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 27
Whole-Time Director recently bought ₹109k worth of stock On the 24th of June, Ashishkumar Gandhi bought around 2k shares on-market at roughly ₹72.90 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹214k. Insiders have collectively bought ₹10m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 15
Chairman & MD recently bought ₹214k worth of stock On the 13th of June, Miteshkumar Gandhi bought around 3k shares on-market at roughly ₹71.39 per share. This was the largest purchase by an insider in the last 3 months. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹5.3m worth in shares. Reported Earnings • Jun 01
Full year 2022 earnings released: EPS: ₹4.12 (vs ₹3.83 in FY 2021) Full year 2022 results: EPS: ₹4.12 (up from ₹3.83 in FY 2021). Revenue: ₹1.06b (up 20% from FY 2021). Net income: ₹33.5m (up 7.8% from FY 2021). Profit margin: 3.2% (down from 3.5% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Akhil Shah was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Apr 02
Whole-Time Director recently bought ₹118k worth of stock On the 30th of March, Ashishkumar Gandhi bought around 2k shares on-market at roughly ₹78.65 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹373k. Insiders have collectively bought ₹9.4m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Feb 24
Chairman & MD recently bought ₹373k worth of stock On the 21st of February, Miteshkumar Gandhi bought around 5k shares on-market at roughly ₹82.88 per share. This was the largest purchase by an insider in the last 3 months. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹4.8m worth in shares. Recent Insider Transactions • Feb 01
Whole-Time Director recently bought ₹121k worth of stock On the 28th of January, Komal Gandhi bought around 2k shares on-market at roughly ₹80.60 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹131k. Insiders have collectively bought ₹8.1m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jan 15
Whole-Time Director recently bought ₹127k worth of stock On the 13th of January, Ashishkumar Gandhi bought around 2k shares on-market at roughly ₹84.70 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹7.2m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jan 03
Chairman & MD recently bought ₹120k worth of stock On the 31st of December, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹79.90 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹126k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹4.3m worth in shares. Recent Insider Transactions • Dec 25
Chairman & MD recently bought ₹121k worth of stock On the 23rd of December, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹80.90 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹126k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹4.2m worth in shares. Recent Insider Transactions • Dec 15
Chairman & MD recently bought ₹120k worth of stock On the 13th of December, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹79.90 per share. In the last 3 months, they made an even bigger purchase worth ₹366k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹4.0m worth in shares. Recent Insider Transactions • Nov 26
Whole-Time Director recently bought ₹119k worth of stock On the 22nd of November, Ashishkumar Gandhi bought around 2k shares on-market at roughly ₹79.05 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹374k. Insiders have collectively bought ₹6.1m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 10
Chairman & MD recently bought ₹120k worth of stock On the 8th of November, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹80.10 per share. In the last 3 months, they made an even bigger purchase worth ₹374k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹3.8m worth in shares. Reported Earnings • Nov 01
First half 2022 earnings released The company reported a mediocre first half result with flat earnings, revenues and profit margins. First half 2022 results: Revenue: (flat on 1H 2021). Net income: (flat on 1H 2021). Profit margin: (in line with 1H 2021). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Aug 31
Chairman & MD recently bought ₹119k worth of stock On the 27th of August, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹79.25 per share. In the last 3 months, they made an even bigger purchase worth ₹137k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹1.3m worth in shares. Recent Insider Transactions • Aug 26
Whole-Time Director recently bought ₹120k worth of stock On the 20th of August, Ashishkumar Gandhi bought around 2k shares on-market at roughly ₹79.85 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹137k. Insiders have collectively bought ₹3.8m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 03
Whole-Time Director recently bought ₹129k worth of stock On the 30th of July, Ashishkumar Gandhi bought around 2k shares on-market at roughly ₹85.75 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹137k. Insiders have collectively bought ₹4.4m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 15
Chairman & MD recently bought ₹131k worth of stock On the 10th of June, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹87.10 per share. This was the largest purchase by an insider in the last 3 months. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹1.6m worth in shares. Recent Insider Transactions • Mar 30
Whole-Time Director recently bought ₹120k worth of stock On the 26th of March, Ashishkumar Gandhi bought around 2k shares on-market at roughly ₹79.75 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹123k. Insiders have collectively bought ₹3.7m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 17
Whole-Time Director recently bought ₹121k worth of stock On the 12th of March, Komal Gandhi bought around 2k shares on-market at roughly ₹80.50 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹121k. Insiders have collectively bought ₹3.3m more in shares than they have sold in the last 12 months. Is New 90 Day High Low • Mar 02
New 90-day low: ₹77.10 The company is down 3.0% from its price of ₹79.25 on 02 December 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 13% over the same period. Recent Insider Transactions • Feb 06
Chairman & MD recently bought ₹121k worth of stock On the 3rd of February, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹80.90 per share. This was the largest purchase by an insider in the last 3 months. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹1.2m worth in shares. Is New 90 Day High Low • Feb 06
New 90-day low: ₹78.45 The company is down 5.0% from its price of ₹82.25 on 05 November 2020. The Indian market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 14% over the same period. Is New 90 Day High Low • Oct 20
New 90-day high: ₹84.25 The company is up 11% from its price of ₹75.95 on 22 July 2020. The Indian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 12% over the same period. Recent Insider Transactions • Oct 01
Chairman & MD recently bought ₹113k worth of stock On the 25th of September, Miteshkumar Gandhi bought around 2k shares on-market at roughly ₹75.00 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹321k. Miteshkumar has been a buyer over the last 12 months, purchasing a net total of ₹887k worth in shares. Is New 90 Day High Low • Sep 30
New 90-day high: ₹80.00 The company is up 11% from its price of ₹72.00 on 02 July 2020. The Indian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 15% over the same period. 
