Ahmedabad-based integrated chemical manufacturer of dye intermediates, dyestuffs, basic chemicals and chlor-alkali products, with a newer Benzene-derivatives unit at Saykha, Gujarat.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 709 | +56.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 10.0 | 0.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 30.0 | +200.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 6.01 | −0.5 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 8.95 | +5.0 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 27.57 | −10.2 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
7 targets tracked, none judged yet · 7 open · verdicts reflect calls analysed to Q1 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Benzene Project Capacity Utilization | Reach 60%-70% plus within next 1 or 2 months | Q3 FY25 | Actual was 20% (exit 30%). New target: cross 70% by Q3 | Delayed |
| Benzene Project Revenue | Run rate will add around Rs. 300 crores of annual business (at 80-90% util) | Q3 FY25 | Earlier targeting 150 cr for current year, conservatively targeting around 100 cr now | Diluted |
| Annual Revenue | Rs. 2,000 crores plus within 3 to 4 months | Q3 FY25 | On track to achieve near INR1,900 crores, plus or minus 5% | Revised Down |
7 of Bodal Chemicals Limited's 7 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 4 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹60.97 on 24 Oct 2025 → ₹142.13. High ₹202.02 (25 Sept 2026), low ₹43.45 (13 Mar 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
Bodal Chemicals is a backward-and-forward integrated chemical manufacturer producing basic chemicals (sulphuric acid, oleum, chlorosulphonic acid), dye intermediates (H Acid, DASA, Gamma Acid, K Acid) and dyestuffs (reactive, acid, direct and liquid dyes) used mainly by the textile, leather and paper industries. It also operates a chlor-alkali unit in Punjab making caustic soda, chlorine and hydrochloric acid, and a Benzene-downstream products plant at Saykha, Gujarat making MCB, DCB, PNCB, ONCB and MNCB. About 40% of its basic-chemicals output is captively consumed by its own dye-intermediates division, and about 40% of dye-intermediates output feeds its dyestuffs division, giving the company a cost-competitive integrated value chain. It sells through a domestic distributor/depot network and exports through subsidiaries in China, Turkey and Indonesia.
Segments
Guidance
7 targets tracked, none judged yet · 7 open · verdicts reflect calls analysed to Q1 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Benzene Project Capacity Utilization | Reach 60%-70% plus within next 1 or 2 months | Q3 FY25 | Actual was 20% (exit 30%). New target: cross 70% by Q3 | Delayed |
| Benzene Project Revenue | Run rate will add around Rs. 300 crores of annual business (at 80-90% util) | Q3 FY25 | Earlier targeting 150 cr for current year, conservatively targeting around 100 cr now | Diluted |
| Annual Revenue | Rs. 2,000 crores plus within 3 to 4 months | Q3 FY25 | On track to achieve near INR1,900 crores, plus or minus 5% | Revised Down |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 7 tracked commitments, with each call’s wording and source.
Call summaries
Bodal Chemicals Q1 FY26
Bodal Chemicals reported an 8% YoY revenue growth to ₹458 crores and a 40% YoY EBITDA growth to ₹52 crores in Q1 FY26, driven by better realizations. While the new benzene derivatives project added to overheads and faced margin pressure, the company is focused on improving utilization and debt reduction. Dye Intermediates and Dyestuff segments saw revenue degrowth, but Basic Chemicals and Chlor Alkali showed positive growth.
Read the full callBodal Chemicals Q4 FY25
Bodal Chemicals delivered strong Q4 and FY25 results, driven by improved volumes and realizations across segments. The implementation of anti-dumping duty on TCCA is a significant positive, expected to boost the business. While the Turkey subsidiary continues to face hyperinflationary challenges, the company is optimistic about growth in FY26, targeting ₹1,900 crores+ revenue and 11-12% EBITDA margins, supported by increased utilization in benzene derivatives and Chlor-Alkali expansion.
Read the full callBodal Chemicals Q3 FY25
Bodal Chemicals reported strong top-line and EBITDA growth in Q3 and 9M FY25, driven by volume improvements, particularly in dye intermediates. While the new benzene project's overheads impacted net profitability in the short term, management is confident in its future contribution and overall margin expansion. The company is focused on debt reduction and expects significant cash inflow from the Punjab subsidy soon.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
Net profit, year on year: +200% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 429 | 443 | 451 | 454 | 480 | 490 | 588 | 709 |
| Expenses | 396 | 399 | 404 | 407 | 457 | 468 | 519 | 640 |
| Operating profit | 33 | 44 | 47 | 48 | 23 | 22 | 69 | 69 |
| Operating margin | 8.0% | 10.0% | 10.0% | 10.0% | 4.8% | 4.5% | 12.0% | 10.0% |
| Other income | 5 | 1 | 2 | 4 | 20 | 15 | 3 | 6 |
| Interest | 20 | 20 | 21 | 22 | 20 | 19 | 18 | 19 |
| Depreciation | 17 | 17 | 17 | 18 | 17 | 17 | 17 | 17 |
| Profit before tax | 1 | 8 | 12 | 13 | 6 | 0 | 36 | 39 |
| Tax rate | 124.0% | 34.0% | −25.0% | 24.0% | −8.0% | 0.0% | 11.0% | 22.0% |
| Net profit | 0 | 5 | 14 | 10 | 6 | 0 | 32 | 30 |
| EPS (₹ per share) | -0.02 | 0.43 | 1.15 | 0.76 | 0.48 | 0.02 | 2.55 | 2.41 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 1,571 | 1,395 | 1,745 | 2,012 |
| Expenses | 1,437 | 1,300 | 1,587 | 1,851 |
| Operating profit | 133 | 94 | 158 | 162 |
| Other income | 12 | 25 | 10 | 42 |
| Interest | 41 | 54 | 82 | 79 |
| Depreciation | 53 | 61 | 68 | 69 |
| Profit before tax | 51 | 5 | 20 | 55 |
| Net profit | 38 | 6 | 18 | 48 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 24 | 25 | 25 | 25 | 25 | 25 |
| Reserves | 1,028 | 1,053 | 1,057 | 1,080 | 1,097 | 1,132 |
| Borrowings | 676 | 760 | 904 | 911 | 866 | 813 |
| Other liabilities | 385 | 283 | 294 | 324 | 325 | 366 |
| Total liabilities | 2,113 | 2,120 | 2,281 | 2,339 | 2,313 | 2,336 |
| Fixed assets | 817 | 967 | 1,314 | 1,301 | 1,278 | 1,239 |
| Capital work in progress | 70 | 193 | 68 | 61 | 61 | 67 |
| Investments | 0 | 0 | 13 | 0 | 0 | 0 |
| Other assets | 1,227 | 960 | 886 | 977 | 973 | 1,031 |
| Total assets | 2,113 | 2,120 | 2,281 | 2,339 | 2,313 | 2,336 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -13 | -14 | 290 | 204 | 114 | 176 |
| Cash from investing | -168 | -170 | -315 | -278 | -41 | 9 |
| Cash from financing | 178 | 181 | 33 | 81 | -73 | -191 |
| Net cash flow | -3 | -3 | 8 | 7 | 0 | -7 |
| Free cash flow | -191 | -170 | -29 | -29 | 69 | 180 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 139 | 105 | 97 | 100 | 83 | 80 |
| Inventory days | 141 | 141 | 119 | 139 | 139 | 106 |
| Days payable | 102 | 81 | 72 | 102 | 97 | 81 |
| Cash conversion cycle | 178 | 165 | 144 | 137 | 125 | 105 |
| Working capital days | 73 | 55 | 49 | 19 | 20 | 27 |
| Return on capital employed | 5.0% | 12.0% | 5.0% | 3.0% | 6.0% | 6.0% |
| Dividend payout | 23.0% | 9.0% | 3.0% | 0.0% | 0.0% | 0.0% |
Ownership
Promoters hold 56.99% as of Sept 2026; institutions added 2.28 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Bodal Chemicals Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 29.47% | unchanged | |
| 8.33% | unchanged | |
| 5.90% | +0.13 pp | |
| 5.29% | unchanged | |
| 5.22% | +0.99 pp | |
| 4.15% | unchanged | |
| 3.79% | −0.14 pp | |
| 0.04% | unchanged | |
| 0.03% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Your own record
Free account: one company. Everything above stays public.
Write why you follow Bodal Chemicals Limited and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading
Guides on how to read this kind of business and the numbers that matter.
