As of 6 Nov 2026, Bodal Chemicals trades at 28.2× trailing earnings, above the industry P/E of 22.1×, and the shares are 26% below their 52-week high. Sales and net profit grew 8.1% and 7.9% a year over 3 years; its ROCE of 8.2% is the lowest among the 7 largest Specialty Chemicals peers. Debt is 0.65× equity. It is a small-cap company with a market cap of ₹1,936 Cr, ranked 59th of 204 Specialty Chemicals companies by market cap; the shares rose 166% over the past year.
- ₹159.60
- ₹159.60
- ₹153.72
- ₹161.81
- 3.8 L
Health check
- ReturnsAhead
+165.7% over a year, better than 7 of 7 peers.
- Price tagPricier
P/E 28.2 vs industry 22.1.
- GrowthSteady
Sales +8.1%, profit +7.9% a year over 3 years.
- ProfitabilityWeak
ROCE 8.2% vs peer median 24.4%.
- Balance sheetFair
Debt 0.65× equity, interest covered 1.7×, Piotroski 8 of 9.
- Red flags1 to check
Interest coverage of only 2.3×.
Small cap
Defensive
Key metrics
- Market cap
- ₹1,936 Cr
- Small cap
- P/E
- 28.2
- Industry 22.1
- Price to book
- 1.52
- Peers 13.33
- Dividend yield
- 0.00%
- ROE
- 12.0%
- Peers 23.0%
- ROCE
- 8.2%
- Peers 24.4%
- Debt to equity
- 0.65
- Debt ₹822 Cr
- EPS (TTM)
- ₹5.45
- Face value ₹2
- OPM (TTM)
- 8.4%
- Net margin 5.4%
- Sales growth
- +56.1%
- Latest quarter vs a year ago
- Profit growth
- +218.7%
- Latest quarter vs a year ago
- Price to sales
- 0.73
- EV/EBITDA 9.7
Strengths and risks
Strengths
- Quarterly profit up 218.7% on a year ago.
- Quarterly sales up 56.1% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Interest coverage of only 2.3×.
About Bodal Chemicals
Bodal Chemicals Limited engages in the manufacture and sale of dyestuffs, dyes intermediates, and other chemicals in India and internationally. The company offers dye intermediates, including H-Acid, vinyl sulphone, K-Acid, gamma acid, DASA, FC acid, SPVS, OA, MPDSA, meta ureido aniline, and DIAZO; and dyestuffs, such as reactive, acid, direct, and liquid dyes. It also provides chemicals comprising of sulphuric acid, oleum, thionyl chloride, beta napthol,…
- Headquarters
- Ahmedabad
- Employees
- 2,152
- Sector
- Basic Materials
- ISIN
- INE338D01028
- Website
- bodal.com
Price range
- Avg volume (3M)
- 21 L
- 1-year return
- plus 165.7%
- From 52-week high
- minus 26.0%
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 15.3% | 0.15 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.1% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| BODALCHEMBodal Chemicals | 153.75 | minus 4.98% | 1,936 | 28.2 | 15.4 | 8.2% | 8.4% | 0.70 | 8.1% | plus 165.7% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.1% | 0.21 | 5.8% | 6.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 454 | 480 | 490 | 588 | 709 | |
| 405 | 456 | 467 | 517 | 639 | |
| 49.1 | 24.9 | 23 | 71.2 | 70.3 | |
| 10.8% | 5.2% | 4.7% | 12.1% | 9.9% | |
| 4 | 19.9 | 15.1 | 2.6 | 6.1 | |
| 21.6 | 19.9 | 19.4 | 17.8 | 18.6 | |
| 17.5 | 17.4 | 17.5 | 17.3 | 17.4 | |
| −1.4 | −1.9 | −1 | −2.7 | −1.3 | |
| 12.5 | 5.6 | 0.2 | 36.1 | 39.1 | |
| 23.9% | −7.9% | −3.0% | 11.1% | 22.3% | |
| 9.5 | 6 | 0.2 | 32.1 | 30.4 | |
| 0.76 | 0.47 | 0.02 | 2.55 | 2.41 |
Profit & loss
- Sales CAGR 3Y
- +8.1%
- Profit CAGR 3Y
- +7.9%
- EPS CAGR 3Y
- +7.8%
- ROE
- 12.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,544 | 1,363 | 1,710 | 1,950 | |
| – | minus 11.8% | +25.4% | +14.1% | |
| 1,406 | 1,252 | 1,536 | 1,772 | |
| 139 | 111 | 173 | 178 | |
| 9.0% | 8.1% | 10.1% | 9.1% | |
| 3.3 | 13.8 | 2 | 2.9 | |
| 39.2 | 52 | 78.5 | 75.9 | |
| 53.1 | 60.5 | 68.5 | 69.6 | |
| 1 | −7.4 | −9.1 | 19 | |
| 50.8 | 4.7 | 19.3 | 54.4 | |
| 25.2% | −36.9% | 4.2% | 12.0% | |
| 38 | 6.5 | 18.5 | 47.8 | |
| – | minus 83.0% | +186.0% | +158.5% | |
| 3.03 | 0.51 | 1.47 | 3.80 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 25.1 | 25.2 | 25.2 | 25.2 | |
| 1,053 | 1,057 | 1,080 | 1,132 | |
| 698 | 904 | 911 | 813 | |
| 345 | 302 | 337 | 385 | |
| 2,121 | 2,288 | 2,353 | 2,356 | |
| 1,210 | 1,394 | 1,364 | 1,308 | |
| 257 | 94 | 75.4 | 80.5 | |
| 0.2 | 0.2 | 0.2 | 0.1 | |
| 16.8 | 36.9 | 23.5 | 16.8 | |
| 636 | 763 | 889 | 951 | |
| 2,121 | 2,288 | 2,353 | 2,356 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 290 | 204 | 114 | 176 | |
| −310 | −262 | −37 | 10.7 | |
| 32.7 | 81 | −73.5 | −191 | |
| 12.5 | 23.6 | 3.3 | −4.8 | |
| −338 | −245 | −46.5 | −35.8 | |
| −47.9 | −40.7 | 67.3 | 140 | |
| −9.8 | −1.4 | −0.1 | −0 |
Shareholding pattern
- Promoters57.00%
- Public43.00%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 57.00% | 43.00% | 0.00 | |
| 30 Jun 2026 | 57.00% | 43.00% | 0.00 | |
| 31 Mar 2026 | 57.00% | 43.00% | 0.00 | |
| 31 Dec 2025 | 57.00% | 43.00% | 0.00 | |
| 30 Sep 2025 | 57.00% | 43.00% | – |
Major shareholders
Filings & events
News
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