Announcement • May 08
Styrenix Performance Materials Limited to Report Q4, 2026 Results on May 16, 2026 Styrenix Performance Materials Limited announced that they will report Q4, 2026 results at 12:15 PM, Indian Standard Time on May 16, 2026 Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹2,212, the stock trades at a trailing P/E ratio of 23.4x. Average forward P/E is 28x in the Chemicals industry in India. Total returns to shareholders of 209% over the past three years. Board Change • Feb 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. 8 experienced directors. No highly experienced directors. Independent Non-Executive Director Radhika Nath 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 • Jan 31
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 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. Profit margins are more than 30% lower than last year (4.7% net profit margin). Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: ₹9.29 (vs ₹27.12 in 3Q 2025) Third quarter 2026 results: EPS: ₹9.29 (down from ₹27.12 in 3Q 2025). Revenue: ₹8.71b (up 26% from 3Q 2025). Net income: ₹163.4m (down 66% from 3Q 2025). Profit margin: 1.9% (down from 6.9% in 3Q 2025). 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 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jan 29
Now 21% overvalued Over the last 90 days, the stock has fallen 19% to ₹1,921. The fair value is estimated to be ₹1,592, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 2.8%. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 15% in the next 2 years. Announcement • Jan 22
Styrenix Performance Materials Limited to Report Q3, 2026 Results on Jan 29, 2026 Styrenix Performance Materials Limited announced that they will report Q3, 2026 results on Jan 29, 2026 Buy Or Sell Opportunity • Jan 12
Now 22% overvalued Over the last 90 days, the stock has fallen 16% to ₹1,952. The fair value is estimated to be ₹1,598, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 2.8%. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 15% in the next 2 years. New Risk • Nov 14
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: 5.9% Last year net profit margin: 8.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (63% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.9% net profit margin). Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: ₹25.43 (vs ₹39.86 in 2Q 2025) Second quarter 2026 results: EPS: ₹25.43 (down from ₹39.86 in 2Q 2025). Revenue: ₹8.02b (up 23% from 2Q 2025). Net income: ₹447.2m (down 36% from 2Q 2025). Profit margin: 5.6% (down from 11% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 05
Styrenix Performance Materials Limited to Report Q2, 2026 Results on Nov 12, 2025 Styrenix Performance Materials Limited announced that they will report Q2, 2026 results at 12:15 PM, Indian Standard Time on Nov 12, 2025 Declared Dividend • Aug 15
Dividend of ₹31.00 announced Shareholders will receive a dividend of ₹31.00. Ex-date: 21st August 2025 Payment date: 12th September 2025 Dividend yield will be 2.4%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (45% 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 39% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 2.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 09
Full year 2025 earnings released: EPS: ₹134 (vs ₹98.47 in FY 2024) Full year 2025 results: EPS: ₹134 (up from ₹98.47 in FY 2024). Revenue: ₹29.8b (up 34% from FY 2024). Net income: ₹2.35b (up 36% from FY 2024). Profit margin: 7.9% (up from 7.8% 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 13% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Announcement • Aug 09
Styrenix Performance Materials Limited to Report Q1, 2026 Results on Aug 13, 2025 Styrenix Performance Materials Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Announcement • Aug 06
Styrenix Performance Materials Limited, Annual General Meeting, Aug 29, 2025 Styrenix Performance Materials Limited, Annual General Meeting, Aug 29, 2025, at 11:30 Indian Standard Time. Reported Earnings • May 26
Full year 2025 earnings released: EPS: ₹134 (vs ₹98.47 in FY 2024) Full year 2025 results: EPS: ₹134 (up from ₹98.47 in FY 2024). Revenue: ₹29.9b (up 35% from FY 2024). Net income: ₹2.35b (up 36% from FY 2024). Profit margin: 7.9% (up from 7.8% 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 13% per year but the company’s share price has increased by 50% per year, which means it is well ahead of earnings. Announcement • May 17
Styrenix Performance Materials Limited to Report Q4, 2025 Results on May 24, 2025 Styrenix Performance Materials Limited announced that they will report Q4, 2025 results at 12:15 PM, Indian Standard Time on May 24, 2025 Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹2,685, the stock trades at a trailing P/E ratio of 20.6x. Average trailing P/E is 25x in the Chemicals industry in India. Total returns to shareholders of 273% over the past three years. Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: ₹27.12 (vs ₹19.87 in 3Q 2024) Third quarter 2025 results: EPS: ₹27.12 (up from ₹19.87 in 3Q 2024). Revenue: ₹6.92b (up 43% from 3Q 2024). Net income: ₹476.9m (up 37% from 3Q 2024). Profit margin: 6.9% (down from 7.2% in 3Q 2024). The decrease in margin was driven by higher expenses. 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 24% per year, which means it is well ahead of earnings. Announcement • Jan 24
Styrenix Performance Materials Limited to Report Q3, 2025 Results on Jan 30, 2025 Styrenix Performance Materials Limited announced that they will report Q3, 2025 results on Jan 30, 2025 Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹2,919, the stock trades at a trailing P/E ratio of 23.9x. Average trailing P/E is 33x in the Chemicals industry in India. Total returns to shareholders of 185% over the past three years. Announcement • Dec 09
Styrenix Performance Materials Limited Declares Interim Dividend for Fiscal Year 2024-25 Styrenix Performance Materials Limited announced at the board meeting held on December 9, 2024, approved Declaration of Interim Dividend for F.Y. 2024-25 of INR 31 (i.e. 310 %) per equity share of INR 10 each. As informed vide letter dated December 04, 2024, the record date for the purpose of determining the members eligible to receive the interim dividend 2024-25, has been fixed as December 17, 2024. Reported Earnings • Oct 29
Second quarter 2025 earnings released: EPS: ₹39.86 (vs ₹32.08 in 2Q 2024) Second quarter 2025 results: EPS: ₹39.86 (up from ₹32.08 in 2Q 2024). Revenue: ₹6.60b (up 11% from 2Q 2024). Net income: ₹701.0m (up 24% from 2Q 2024). Profit margin: 11% (up from 9.5% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Oct 21
Styrenix Performance Materials Limited to Report Q2, 2025 Results on Oct 28, 2024 Styrenix Performance Materials Limited announced that they will report Q2, 2025 results on Oct 28, 2024 Buy Or Sell Opportunity • Oct 10
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.3% to ₹2,474. The fair value is estimated to be ₹2,062, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has declined by 36%. Buy Or Sell Opportunity • Sep 23
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to ₹2,542. The fair value is estimated to be ₹2,086, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has declined by 36%. Buy Or Sell Opportunity • Aug 16
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 42% to ₹2,549. The fair value is estimated to be ₹2,081, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has declined by 36%. Declared Dividend • Aug 02
Dividend of ₹28.00 announced Shareholders will receive a dividend of ₹28.00. Ex-date: 12th August 2024 Payment date: 20th September 2024 Dividend yield will be 3.7%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is not adequately covered by earnings (100% earnings payout ratio) nor is it adequately covered by cash flows (97% cash payout ratio). The dividend has increased by an average of 38% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is less than the 25% EPS growth achieved over the last 5 years. Announcement • Jul 22
Styrenix Performance Materials Limited, Annual General Meeting, Aug 21, 2024 Styrenix Performance Materials Limited, Annual General Meeting, Aug 21, 2024, at 11:30 Indian Standard Time. Reported Earnings • Jul 16
First quarter 2025 earnings released: EPS: ₹34.80 (vs ₹18.45 in 1Q 2024) First quarter 2025 results: EPS: ₹34.80 (up from ₹18.45 in 1Q 2024). Revenue: ₹6.99b (up 28% from 1Q 2024). Net income: ₹612.0m (up 89% from 1Q 2024). Profit margin: 8.8% (up from 6.0% 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 36% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • Jul 05
Styrenix Performance Materials Limited to Report Q1, 2025 Results on Jul 15, 2024 Styrenix Performance Materials Limited announced that they will report Q1, 2025 results on Jul 15, 2024 Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹2,291, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 35x in the Chemicals industry in India. Total returns to shareholders of 130% over the past three years. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹2,008, the stock trades at a trailing P/E ratio of 20.4x. Average trailing P/E is 31x in the Chemicals industry in India. Total returns to shareholders of 102% over the past three years. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹1,858, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 30x in the Chemicals industry in India. Total returns to shareholders of 100% over the past three years. Reported Earnings • May 07
Full year 2024 earnings released: EPS: ₹98.47 (vs ₹104 in FY 2023) Full year 2024 results: EPS: ₹98.47 (down from ₹104 in FY 2023). Revenue: ₹22.3b (down 5.9% from FY 2023). Net income: ₹1.73b (down 5.4% from FY 2023). Profit margin: 7.8% (up from 7.7% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • May 06
Styrenix Performance Materials Limited Recommends Dividend for the Financial Year Ended on March 31, 2024 Styrenix Performance Materials Limited announced that at the board meeting held on May 6, 2024, the company has recommended a dividend of INR 28.00/- per equity share of INR 10/- each (280 %) for the financial year ended on March 31, 2024, subject to approval of members at the up coming Annual General Meeting (AGM). Reported Earnings • Feb 06
Third quarter 2024 earnings released: EPS: ₹19.87 (vs ₹17.17 in 3Q 2023) Third quarter 2024 results: EPS: ₹19.87 (up from ₹17.17 in 3Q 2023). Revenue: ₹4.85b (down 13% from 3Q 2023). Net income: ₹349.4m (up 16% from 3Q 2023). Profit margin: 7.2% (up from 5.4% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Jan 24
Styrenix Performance Materials Limited to Report Q3, 2024 Results on Feb 03, 2024 Styrenix Performance Materials Limited announced that they will report Q3, 2024 results on Feb 03, 2024 Announcement • Dec 22
Styrenix Performance Materials Limited Announces Appointment of Chintan Doshi as Company Secretary and Compliance Officer Styrenix Performance Materials Limited announced that at the meeting of the Board of Directors of the Company held on December 22, 2023 considered pursuant to the recommendation of the Nomination & Remuneration Committee, the Board of Directors have approved the appointment of Mr. Chintan Doshi as the Company Secretary & Compliance Officer and Key Managerial Personnel (KMP) of the Company with effect from December 22, 2023. Brief profile: Mr. Chintan Doshi has cumulative experience of more than 11 years in Secretarial & Legal compliances, Insurance, Banking and State Government approvals for new project development in Public Listed Companies. He has an academic background CS, LL.B., B.Com. Upcoming Dividend • Oct 24
Upcoming dividend of ₹22.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 31 October 2023. Payment date: 19 November 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.2%. Within top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (0.8%). Reported Earnings • Oct 23
Second quarter 2024 earnings released: EPS: ₹32.08 (vs ₹13.42 in 2Q 2023) Second quarter 2024 results: EPS: ₹32.08 (up from ₹13.42 in 2Q 2023). Revenue: ₹5.95b (up 8.2% from 2Q 2023). Net income: ₹564.2m (up 139% from 2Q 2023). Profit margin: 9.5% (up from 4.3% in 2Q 2023). The increase in margin was driven by higher 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 37% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹1,234, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 27x in the Chemicals industry in India. Total returns to shareholders of 238% over the past three years. Announcement • Oct 14
Styrenix Performance Materials Limited to Report Q2, 2024 Results on Oct 20, 2023 Styrenix Performance Materials Limited announced that they will report Q2, 2024 results on Oct 20, 2023 Announcement • Aug 11
Styrenix Performance Materials Limited Announces Resignation of Sanjeev Madan as Chief Financial Officer Styrenix Performance Materials Limited informed that, Mr. Sanjeev Madan has resigned as the Chief Financial Officer and KMP of the Company, to explore professional opportunities outside the Company. His last working day as the CFO and KMP of the Company would be September 19, 2023. Announcement • Aug 01
Styrenix Performance Materials Limited to Report Q1, 2024 Results on Aug 10, 2023 Styrenix Performance Materials Limited announced that they will report Q1, 2024 results on Aug 10, 2023 Upcoming Dividend • Jul 26
Upcoming dividend of ₹24.00 per share at 8.8% yield Eligible shareholders must have bought the stock before 02 August 2023. Payment date: 09 September 2023. Payout ratio is on the higher end at 100%, however this is supported by cash flows. Trailing yield: 8.8%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.9%). Reported Earnings • Jul 15
Full year 2023 earnings released: EPS: ₹104 (vs ₹183 in FY 2022) Full year 2023 results: EPS: ₹104 (down from ₹183 in FY 2022). Revenue: ₹23.7b (up 8.9% from FY 2022). Net income: ₹1.83b (down 43% from FY 2022). Profit margin: 7.7% (down from 15% 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 41% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Jul 01
Styrenix Performance Materials Limited, Annual General Meeting, Aug 10, 2023 Styrenix Performance Materials Limited, Annual General Meeting, Aug 10, 2023, at 15:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹1,009, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 21x in the Chemicals industry in India. Total returns to shareholders of 120% over the past three years. Reported Earnings • May 31
Full year 2023 earnings released: EPS: ₹104 (vs ₹183 in FY 2022) Full year 2023 results: EPS: ₹104 (down from ₹183 in FY 2022). Revenue: ₹23.9b (up 9.6% from FY 2022). Net income: ₹1.83b (down 43% from FY 2022). Profit margin: 7.7% (down from 15% 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 41% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • May 27
Styrenix Performance Materials Limited Announces Company Secretary / Compliance Officer Changes At its board meeting held on May 26, 2023, Styrenix Performance Materials Limited has designated the Company Secretary, Mr. Abhijaat Sinha, as the Compliance Officer, in terms of Regulation 6 of the Listing Regulations, in place of Ms. Amita Mistry, who has resigned and is currently serving her Notice Period. Announcement • May 17
Styrenix Performance Materials Limited to Report Q4, 2023 Results on May 26, 2023 Styrenix Performance Materials Limited announced that they will report Q4, 2023 results on May 26, 2023 Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹720, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 95% over the past three years. Reported Earnings • Feb 14
Third quarter 2023 earnings released: EPS: ₹17.17 (vs ₹26.97 in 3Q 2022) Third quarter 2023 results: EPS: ₹17.17 (down from ₹26.97 in 3Q 2022). Revenue: ₹5.60b (up 9.3% from 3Q 2022). Net income: ₹301.9m (down 36% from 3Q 2022). Profit margin: 5.4% (down from 9.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Feb 04
Styrenix Performance Materials Limited to Report Q3, 2023 Results on Feb 13, 2023 Styrenix Performance Materials Limited announced that they will report Q3, 2023 results on Feb 13, 2023 Board Change • Nov 20
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Non-Executive Non-Independent Chairman Rob Buntinx is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹13.42 (vs ₹51.19 in 2Q 2022) Second quarter 2023 results: EPS: ₹13.42 (down from ₹51.19 in 2Q 2022). Revenue: ₹5.50b (down 6.5% from 2Q 2022). Net income: ₹236.0m (down 74% from 2Q 2022). Profit margin: 4.3% (down from 15% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. CEO, MD & Executive Director Sanjiv Vasudeva is the most experienced director on the board, commencing their role in 2016. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 16
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. CEO, MD & Executive Director Sanjiv Vasudeva is the most experienced director on the board, commencing their role in 2016. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 12
Full year 2022 earnings released: EPS: ₹183 (vs ₹159 in FY 2021) Full year 2022 results: EPS: ₹183 (up from ₹159 in FY 2021). Revenue: ₹21.8b (up 34% from FY 2021). Net income: ₹3.23b (up 15% from FY 2021). Profit margin: 15% (down from 17% 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 108% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 22% share price gain to ₹923, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 17x in the Chemicals industry in India. Total returns to shareholders of 113% over the past three years. Upcoming Dividend • May 30
Upcoming dividend of ₹105 per share Eligible shareholders must have bought the stock before 06 June 2022. Payment date: 18 June 2022. Payout ratio is a comfortable 57% but the company is paying out more than the cash it is generating. Trailing yield: 12%. Within top quartile of Indian dividend payers (1.7%). Higher than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment deteriorated over the past week After last week's 22% share price decline to ₹861, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 84% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 15% share price gain to ₹1,104, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 137% over the past three years. Reported Earnings • Feb 10
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹26.97 (down from ₹58.57 in 3Q 2021). Revenue: ₹5.14b (up 5.1% from 3Q 2021). Net income: ₹474.2m (down 54% from 3Q 2021). Profit margin: 9.2% (down from 21% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Second quarter 2022 earnings released: EPS ₹51.19 (vs ₹20.38 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹5.95b (up 49% from 2Q 2021). Net income: ₹900.3m (up 151% from 2Q 2021). Profit margin: 15% (up from 9.0% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 19% share price gain to ₹1,834, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 168% over the past three years. Price Target Changed • Aug 16
Price target increased to ₹1,540 Up from ₹1,400, the current price target is provided by 1 analyst. New target price is 9.4% above last closing price of ₹1,408. Stock is up 178% over the past year. Reported Earnings • Aug 16
First quarter 2022 earnings released: EPS ₹48.92 (vs ₹11.39 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹4.59b (up 294% from 1Q 2021). Net income: ₹860.3m (up ₹1.06b from 1Q 2021). Profit margin: 19% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth.