KRONOX
Kronox Lab financials
- Market cap
- ₹653 Cr
- Sector
- Chemicals
What Kronox Lab does
KRONOX Lab Sciences manufactures high-purity specialty fine chemicals sold as excipients, reagents and ingredients to pharmaceutical, nutraceutical and food industries. It runs three manufacturing units in Padra taluka, Vadodara district, Gujarat, with a combined installed capacity of 7,242 MTPA spread over 1.88 lakh sq.ft. The company has exported these chemicals since 2010 and holds facility certifications including FSSC 22000, ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, GMP, GLP, Kosher and Halal. It is also developing a fourth manufacturing unit at Dahej, for which land has been acquired and key statutory approvals obtained.
Segments
- Pharmaceutical & nutraceutical excipients/reagents
- Food grade fine chemicals
- Manufacturing facilities
- 3 (Unit I, II & III, Padra taluka, Vadodara)
- Installed capacity
- 7,242 MTPA
- Cumulative manufacturing area
- 1.88 Lakh sq.ft
- Product portfolio
- ~185 products
- Planned Unit IV land (Dahej)
- 20,471 sq.mtr
- Quality certifications
- FSSC 22000, ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, GMP, GLP, Kosher, Halal
Quarterly results
Q1 FY27: revenue up 16.9%, net profit up 16.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 25 | 24 | 26 | 24 | 26 +3% | 25 +5% | 26 +0% | 28 +17% |
| EBITDA | 9 | 8 | 8 | 8 | 9 −2% | 8 −4% | 10 +23% | 9 +13% |
| Net profit | 6 | 7 | 6 | 6 | 7 +3% | 7 +1% | 8 +27% | 7 +16% |
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 +4.4% 1Y
1Y: ₹168.58 on 10 Sept 2025 → ₹175.92. High ₹215.18 (21 Aug 2026), low ₹97.02 (30 Mar 2026).
Financials, as filed
Revenue grew 6.1% a year over 2 years, FY24 to FY26. Operating margin widened to 33.8%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹90 Cr | ₹100 Cr | ₹101 Cr |
| Operating profit | ₹28 Cr | ₹33 Cr | ₹34 Cr |
| Operating margin | 31.5% | 33.1% | 33.8% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹2 Cr |
| Net profit | ₹21 Cr | ₹25 Cr | ₹28 Cr |
| Net margin | 23.8% | 25.4% | 27.2% |
| Cash from operations | ₹17 Cr | ₹31 Cr | ₹24 Cr |
| Free cash flow | ₹5 Cr | ₹28 Cr | ₹21 Cr |
| ROCE | 52.0% | 44.0% | 36.0% |
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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹0 Cr | ₹37 Cr | ₹37 Cr | ₹37 Cr | ₹37 Cr |
| Reserves | ₹27 Cr | ₹40 Cr | ₹8 Cr | ₹29 Cr | ₹64 Cr | ₹79 Cr |
| Borrowings | ₹4 Cr | ₹3 Cr | ₹0 Cr | ₹0 Cr | ₹3 Cr | ₹2 Cr |
| Other liabilities | ₹7 Cr | ₹13 Cr | ₹9 Cr | ₹8 Cr | ₹9 Cr | ₹10 Cr |
| Total liabilities | ₹38 Cr | ₹57 Cr | ₹54 Cr | ₹74 Cr | ₹113 Cr | ₹128 Cr |
| Fixed assets | ₹9 Cr | ₹11 Cr | ₹16 Cr | ₹26 Cr | ₹30 Cr | ₹29 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹1 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹28 Cr | ₹45 Cr | ₹38 Cr | ₹47 Cr | ₹82 Cr | ₹98 Cr |
| Total assets | ₹38 Cr | ₹57 Cr | ₹54 Cr | ₹74 Cr | ₹113 Cr | ₹128 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, DIIs added +0.36 pp while the public trimmed −0.36 pp. The shareholder count shrank 14% to 32,479.
- Promoters
- 74.2%
- FIIs
- 0.0%
- DIIs
- 2.1%
- Public
- 23.7%
Since Jun 2025
- DIIs +0.36 pp
- Public −0.36 pp
- FIIs +0.01 pp
How it drifted, 9 quarters
Over this window the public went from 19.9% to 23.7% — +3.8 pp.
Ownership split by quarter, oldest first. Jun '24: Promoters 74.2%, FIIs 1.6%, DIIs 4.3%, Public 19.9%.Sep '24: Promoters 74.2%, FIIs 0.6%, DIIs 2.6%, Public 22.7%.Dec '24: Promoters 74.2%, FIIs 0.5%, DIIs 2.2%, Public 23.1%.Mar '25: Promoters 74.2%, FIIs 0.1%, DIIs 2.2%, Public 23.5%.Jun '25: Promoters 74.2%, FIIs 0.0%, DIIs 1.7%, Public 24.0%.Sep '25: Promoters 74.2%, FIIs 0.0%, DIIs 1.9%, Public 23.8%.Dec '25: Promoters 74.2%, FIIs 0.1%, DIIs 2.0%, Public 23.7%.Mar '26: Promoters 74.2%, FIIs 0.1%, DIIs 2.0%, Public 23.7%.Jun '26: Promoters 74.2%, FIIs 0.0%, DIIs 2.1%, Public 23.7%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Kronox Lab above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Ketan Vinodchandra Ramani | 26.39% | unchanged |
| Jogindersingh G Jaswal | 26.39% | unchanged |
| Ramani Pritesh V | 21.40% | unchanged |
| Negen Undiscovered Value Fund AIF | 1.71% | unchanged |
| Surinder Kumar | 0.00% | unchanged |
| Sarla Devi | 0.00% | unchanged |
| Rupal Ketan Ramani | 0.00% | unchanged |
| Anjukumari J Jaswal | 0.00% | unchanged |
| Ramani Deepali Pritesh | 0.00% | unchanged |
| Ankit J Jaswal | 0.00% | unchanged |
| Pooja Parshva Gandhi | 0.00% | unchanged |
| Dhruvil Ramani | 0.00% | 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
ExpensiveTo justify its price of ₹176, this stock must grow earnings at 16% every year for 7 years. Our analysis caps realistic growth at ~14%. At that growth it is worth ₹152 — downside of 14%.
- Growth the price implies
- 16.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 13.6% a year
- net profit, FY24–FY26 · EPS 13.7%
- The gap
- 0.0 pp
- -14% downside if it only repeats history
Learn to analyse Kronox Lab
Guides on how to read this kind of business and the numbers that matter.