National Peroxide (BSE: NPL) had a P/E of 51.1× on 6 Nov 2026, above the industry P/E of 22.1×, and the shares are 26% below their 52-week high. Its ROCE of 2.2% is the lowest among the 7 largest Specialty Chemicals peers, and sales and net profit fell 8.4% and 47% a year over 3 years. It has almost no debt, and its dividend yield is 1.4%. It is a small-cap company with a market cap of ₹298 Cr, ranked 113th of 204 Specialty Chemicals companies by market cap; the shares fell 14% over the past year.
- ₹519.00
- ₹520.00
- ₹488.55
- ₹505.80
- 1.8K
Health check
- ReturnsBehind
−14.5% over a year, better than 0 of 7 peers.
- Price tagPricier
P/E 51.1 vs industry 22.1.
- GrowthShrinking
Sales −8.4%, profit −47.2% a year over 3 years.
- ProfitabilityWeak
ROCE 2.2% vs peer median 24.4%.
- Balance sheetSolid
Practically debt-free, Piotroski 6 of 9.
- Red flags2 to check
Return on equity is low at 1.6%.
Small cap
High beta
Key metrics
- Market cap
- ₹298 Cr
- Small cap
- P/E
- 51.1
- Industry 22.1
- Price to book
- 0.82
- Peers 13.33
- Dividend yield
- 1.35%
- ROE
- 1.6%
- Peers 23.0%
- ROCE
- 2.2%
- Peers 24.4%
- Debt to equity
- 0.04
- Debt ₹13 Cr
- EPS (TTM)
- ₹10.13
- OPM (TTM)
- 10.8%
- Net margin 5.3%
- Sales growth
- +16.3%
- Latest quarter vs a year ago
- Profit growth
- +641.9%
- Latest quarter vs a year ago
- Price to sales
- 0.93
- EV/EBITDA 6.1
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly profit up 641.9% on a year ago.
- Quarterly sales up 16.3% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 1.6%.
- P/E of 51.1 against an industry P/E of 22.1.
About National Peroxide
National Peroxide Limited manufactures and sells hydrogen peroxide in India. The company offers hydrogen peroxide applies in various industries for chemical synthesis, textile bleaching, paper pulp bleaching, sugar bleaching, water and effluent treatment, metallurgy, pharmaceutical, and food, beverage, and dairy. It also produces compressed hydrogen gas and peracetic acid. The company was formerly known as NPL Chemicals Limited. The company was founded in…
- Headquarters
- Mumbai
- Employees
- 124
- Sector
- Basic Materials
- ISIN
- INE0PO601011
- Website
- naperol.com
Price range
- Avg volume (3M)
- 1.6K
- 1-year return
- minus 14.5%
- From 52-week high
- minus 26.2%
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% |
| NPLNational Peroxide | 517.95 | plus 2.40% | 298 | 51.1 | 9.9 | 2.2% | 10.8% | 0.04 | −8.4% | minus 14.5% |
| 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 | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26 |
|---|---|---|---|---|---|
| 73.7 | 66.7 | 68.3 | 69.1 | 85.7 | |
| 76.1 | 61.8 | 63.8 | 62.1 | 70.8 | |
| −2.4 | 4.8 | 4.5 | 7 | 14.9 | |
| −3.2% | 7.2% | 6.6% | 10.1% | 17.4% | |
| 0 | 2 | 1.7 | 0.9 | 1.4 | |
| 0.4 | 0.4 | 0.4 | 0.3 | 0.3 | |
| 5.1 | 5.1 | 5.2 | 5.2 | 5.3 | |
| – | – | – | −0.6 | – | |
| −7.8 | 1.4 | 0.6 | 1.8 | 10.7 | |
| 17.0% | 34.4% | 39.2% | −2.9% | 25.6% | |
| −6.5 | 0.9 | 0.4 | 1.8 | 7.9 | |
| -11.29 | 1.55 | 0.67 | 3.19 | 13.80 |
Profit & loss
- Sales CAGR 3Y
- −8.4%
- Profit CAGR 3Y
- −47.2%
- ROE
- 1.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 375 | 331 | 286 | 288 | |
| – | minus 11.9% | minus 13.6% | +0.9% | |
| 315 | 292 | 269 | 264 | |
| 60 | 38.3 | 16.4 | 24.2 | |
| 16.0% | 11.6% | 5.7% | 8.4% | |
| 3.8 | 2.4 | 2.1 | 4.1 | |
| 4.8 | 2 | 1.7 | 1.4 | |
| 19.8 | 19.3 | 20.1 | 20.8 | |
| 14.4 | 2.1 | 1.3 | 1.3 | |
| 53.5 | 21.5 | −2.1 | 7.5 | |
| 26.2% | 22.0% | −8.2% | 22.2% | |
| 39.5 | 16.8 | −2.2 | 5.8 | |
| – | minus 57.5% | minus 113.4% | – | |
| 68.73 | 29.22 | -3.91 | – |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5.7 | 5.7 | 5.7 | 5.7 | |
| 346 | 353 | 344 | 351 | |
| 23.4 | 19.7 | 16 | 12.7 | |
| 78.1 | 80.6 | 76.4 | 89.2 | |
| 454 | 459 | 442 | 459 | |
| 338 | 333 | 315 | 299 | |
| 2.7 | 11.8 | 2.9 | 2.7 | |
| 0.4 | – | 0 | 8.7 | |
| 46.4 | 51.7 | 59.6 | 69.8 | |
| 66 | 63.2 | 64.5 | 78.4 | |
| 454 | 459 | 442 | 459 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 67.1 | 36.4 | 18.7 | 34.2 | |
| 24.8 | −17.5 | −1.7 | −22.9 | |
| −86 | −16.7 | −12.5 | −5.4 | |
| 5.9 | 2.2 | 4.4 | 5.9 | |
| −6 | −14.6 | −4.9 | −4.4 | |
| 61.1 | 21.8 | 13.8 | 29.8 | |
| – | −10.1 | −7.2 | – |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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