DUCOL
Ducol Organics & Colours financials
- Market cap
- ₹229 Cr
- Sector
- Chemicals
What Ducol Organics & Colours Ltd does
Ducol Organics and Colours manufactures water-based and solvent-based pigment dispersions, dry dispersions and polymer masterbatches used to colour paints, inks, textiles, rubber, plastics, paper, soaps/detergents and foam. Through its FY26 acquisition of Bitumag Industries, it also makes polymer-modified bitumen-based waterproofing membranes (self-adhesive and torch-on) for the construction chemicals market. It runs four manufacturing units (two at Taloja, one at Mahad, one at Vadodara/Bitumag) and exports to countries including the USA, China, South Korea, Bangladesh, Kenya and Tanzania.
Segments
- Pigment Dispersions
- Masterbatches
- Waterproofing & Construction Chemicals (Bitumag)
- Manufacturing units
- 4 (2 at Taloja, 1 at Mahad, 1 at Vadodara)
- Bitumag (waterproofing) installed capacity
- 10 million sq. meters/year
- Dry dispersions capacity
- 15,000 MTPA
- Wet dispersions capacity
- 4,000 MTPA
- Masterbatches capacity
- 2,000–3,000 MTPA
- Total production plant area
- over 1,40,000 sq. ft
Quarterly results
| Line item | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|
| Revenue | 39 | 39 | 65 | 72 |
| EBITDA | 4 | 3 | 5 | 9 |
| Net profit | 3 | 2 | 3 | 4 |
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 −21.6% 1Y
1Y: ₹162.85 on 10 Sept 2025 → ₹127.65. High ₹201.65 (12 Nov 2025), low ₹90.3 (30 Mar 2026).
Balance sheet
| Year ending | FY25 | FY26 |
|---|---|---|
| Equity capital | ₹16 Cr | ₹16 Cr |
| Reserves | ₹74 Cr | ₹81 Cr |
| Borrowings | ₹28 Cr | ₹43 Cr |
| Other liabilities | ₹17 Cr | ₹30 Cr |
| Total liabilities | ₹136 Cr | ₹170 Cr |
| Fixed assets | ₹19 Cr | ₹54 Cr |
| Capital work in progress | ₹23 Cr | ₹27 Cr |
| Investments | ₹4 Cr | ₹5 Cr |
| Other assets | ₹90 Cr | ₹83 Cr |
| Total assets | ₹136 Cr | ₹170 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
Since Jun 2025, promoters trimmed −5.13 pp while the public added +5.07 pp. The shareholder count shrank 7% to 933.
- Promoters
- 46.2%
- DIIs
- 0.1%
- Public
- 53.7%
Since Jun 2025
- Promoters −5.13 pp
- Public +5.07 pp
- DIIs +0.06 pp
How it drifted, 9 quarters
Over this window promoters fell from 57.4% to 46.2% — −11.2 pp.
Ownership split by quarter, oldest first. Mar '23: Promoters 57.4%, Public 42.6%.Sep '23: Promoters 57.4%, Public 42.6%.Mar '24: Promoters 57.4%, Public 42.6%.Sep '24: Promoters 57.4%, Public 42.6%.Mar '25: Promoters 57.4%, Public 42.6%.Jun '25: Promoters 51.3%, Public 48.7%.Sep '25: Promoters 51.3%, Public 48.7%.Mar '26: Promoters 51.3%, DIIs 0.1%, Public 48.6%.Jun '26: Promoters 46.2%, DIIs 0.1%, Public 53.7%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Ritesh Vinodbhai Mehta newly disclosed 8.60% held
- Vikesh Navinchandra Mehta newly disclosed 1.22% held
The same filing shows 9 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Ducol Organics & Colours Ltd above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Hani Ahmed Farid | 15.51% | −1.72 pp |
| Aamer Ahmed Farid | 15.51% | −1.72 pp |
| Ali Mohmedali Bagash | 15.18% | −1.69 pp |
| Ritesh Vinodbhai Mehta | 8.60% | newly disclosed |
| Sandip Kanaiyalal Parikh | 1.56% | −0.17 pp |
| Alpeshbhai Girishbhai Patel | 1.46% | unchanged |
| Virtuous Capital Limited | 1.34% | −0.15 pp |
| Vikesh Navinchandra Mehta | 1.22% | newly disclosed |
| Debashish Neogi | 1.21% | −0.13 pp |
| Ilaben Navinbhai Mehta | 1.10% | −0.12 pp |
| Vineet Kaul | 1.03% | −0.11 pp |
| Santosh G Kudva | 1.02% | −0.11 pp |
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 the price implies
- 14.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
Learn to analyse Ducol Organics & Colours Ltd
Guides on how to read this kind of business and the numbers that matter.