CHEMCON

Chemcon Speciality Chemicals financials

Market cap
₹796 Cr
Sector
Chemicals

What Chemcon Speciality Chemicals Limited does

Chemcon Speciality Chemicals manufactures organic chemicals (HMDS, CMIC, Bromobenzene, 2-Bromo) and inorganic bromides (Calcium Bromide, Zinc Bromide, Sodium Bromide) used as pharmaceutical intermediates, agrochemical/aromatic inputs and oilwell completion fluids. It is the only Indian manufacturer of HMDS and Zinc Bromide, the largest manufacturer of CMIC worldwide, and the largest manufacturer of Calcium Bromide in India. The company sells through both domestic and export channels, with exports (inclusive of deemed exports) reaching key markets such as the US, Japan, UAE, Italy, South Korea, Germany, China, Russia, Spain, Thailand and Malaysia. It also recently acquired Shivam Petrochem Industries via slump sale to add bulk drug intermediates such as Trityl Chloride, PTSCL, 2-CTC and TosMIC to its portfolio.

Segments

  • Organic Chemicals
  • Inorganic Chemicals
Manufacturing plants
9 operational plants (Manjusar, Vadodara, Gujarat)
Installed capacity - Organic Chemicals
11,400 MTPA (HMDS, CMIC, Bromobenzene, 2-Bromo and other ancillary products)
Installed capacity - Inorganic Chemicals (Bromides)
15,000 MTPA
Owned warehouses
6
Proposed expansion units
2 (P-10, P-11) under process
Employees
237 permanent employees (as of Mar 31, 2025)
Founded 1988Headquarters Vadodara, Gujarat, IndiaEmployees 237 (FY25) Company website

Quarterly results

Q1 FY27: revenue up 22.2%, net profit up 83.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue53 54 55 54 54 +2%57 +6%75 +36%66 +22%
EBITDA9 11 6 8 7 −22%7 −36%9 +50%15 +88%
Net profit6 9 4 6 6 +0%5 −44%6 +50%11 +83%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −13.0% 1Y

₹150₹200₹250Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹249.59 on 10 Sept 2025 → ₹217.23. High ₹283.29 (25 Sept 2025), low ₹125.92 (30 Mar 2026).

Financials, as filed

Revenue fell 7.5% a year over 3 years, FY23 to FY26. Operating margin narrowed to 12.9%.

Year endingFY23FY24FY25FY26
Revenue₹303 Cr₹267 Cr₹208 Cr₹240 Cr
Operating profit₹71 Cr₹26 Cr₹33 Cr₹31 Cr
Operating margin23.3%9.7%15.9%12.9%
Interest₹1 Cr₹4 Cr₹4 Cr₹2 Cr
Depreciation₹8 Cr₹12 Cr₹12 Cr₹12 Cr
Net profit₹55 Cr₹19 Cr₹24 Cr₹23 Cr
Net margin18.2%7.1%11.5%9.6%
Cash from operations₹13 Cr₹12 Cr₹38 Cr₹42 Cr
Free cash flow₹-32 Cr₹-31 Cr₹29 Cr₹32 Cr
ROCE15.0%6.0%7.0%6.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹37 Cr₹37 Cr₹37 Cr₹37 Cr₹37 Cr₹37 Cr
Reserves₹317 Cr₹381 Cr₹421 Cr₹440 Cr₹476 Cr₹447 Cr
Borrowings₹6 Cr₹36 Cr₹64 Cr₹43 Cr₹0 Cr₹53 Cr
Other liabilities₹44 Cr₹45 Cr₹32 Cr₹26 Cr₹35 Cr₹32 Cr
Total liabilities₹404 Cr₹498 Cr₹553 Cr₹545 Cr₹548 Cr₹568 Cr
Fixed assets₹67 Cr₹82 Cr₹141 Cr₹146 Cr₹144 Cr₹195 Cr
Capital work in progress₹9 Cr₹34 Cr₹14 Cr₹42 Cr₹47 Cr₹21 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹11 Cr₹10 Cr
Other assets₹328 Cr₹382 Cr₹398 Cr₹356 Cr₹346 Cr₹342 Cr
Total assets₹404 Cr₹498 Cr₹553 Cr₹545 Cr₹548 Cr₹568 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

The ownership split has held steady since Jun 2025. The shareholder count shrank 7% to 64,587.

Promoters
74.5%
FIIs
0.3%
Public
25.3%

Since Jun 2025

  • FIIs −0.05 pp
  • Public +0.04 pp
  • Promoters 0.00 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 74.5%, FIIs 0.0%, DIIs 0.3%, Public 25.2%.Dec '23: Promoters 74.5%, FIIs 0.1%, DIIs 0.3%, Public 25.2%.Mar '24: Promoters 74.5%, FIIs 0.3%, DIIs 0.3%, Public 25.0%.Jun '24: Promoters 74.5%, FIIs 0.3%, DIIs 0.3%, Public 25.0%.Sep '24: Promoters 74.5%, FIIs 0.3%, DIIs 0.3%, Public 25.0%.Dec '24: Promoters 74.5%, FIIs 0.3%, DIIs 0.3%, Public 25.0%.Mar '25: Promoters 74.5%, FIIs 0.3%, DIIs 0.3%, Public 24.9%.Jun '25: Promoters 74.5%, FIIs 0.3%, Public 25.2%.Sep '25: Promoters 74.5%, FIIs 0.3%, Public 25.3%.Dec '25: Promoters 74.5%, FIIs 0.3%, Public 25.2%.Mar '26: Promoters 74.5%, FIIs 0.4%, Public 25.1%.Jun '26: Promoters 74.5%, FIIs 0.3%, Public 25.3%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Chemcon Speciality Chemicals Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Kamalkumar Rajendra Aggarwal 27.81%unchanged
Naresh Goyal 25.30%unchanged
Rajveer Kamal Aggarwal 6.91%unchanged
Navdeep Naresh Goyal 6.48%unchanged
Shubharangana Naresh Goyal 5.40%unchanged
Minal Kamal Aggarwal 2.54%unchanged
Parul Uttsav Gupta 0.01%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.

What the price assumes

Growth trap

To justify its price of ₹217, this stock must grow earnings at 26% every year for 7 years. Our analysis caps realistic growth at ~-25%. At that growth it is worth ₹15 — downside of 93%.

Growth the price implies
25.5% a year
for 7 years, fading to 4%
It has actually compounded at
-25.3% a year
net profit, FY23–FY26 · EPS -24.6%
The gap
0.5 pp
-93% downside if it only repeats history
Price today ₹217.23 Value at the reference growth ₹14.82

Change the assumptions yourself →

Learn to analyse Chemcon Speciality Chemicals Limited

Guides on how to read this kind of business and the numbers that matter.