INDOBORAXCommodities

Indo Borax & Chemicals Limited

Commodity Chemicals · ISIN INE803D01021 · BSE 524342 · NSE EQ · FV ₹1
Last price
₹435
+0.27%today
What this company does

Indo Borax & Chemicals Limited operates in Commodity Chemicals, part of the Commodities sector. It booked ₹70 cr of revenue in its latest quarter (Q1 FY27) and kept 23.1% of sales as profit.

In the report:
66out of 100
Equitytale Health Score
Solid

Healthier than 66% of companies in Commodities, on all six measures of filed financials. Each measure is ranked against the 29–176 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
47

At close. Not part of the score.

Profitability & returns78

How much profit it earns on the money it employs

Balance sheet99

How much it owes, and whether earnings cover the interest · highest in its sector on what we could measure

Cash quality69

Whether reported profit actually arrives as cash

Growth & consistency62

Whether sales and profit have grown, and how steadily

Valuation25

What today's price implies, against our models or its peers

Governance & risk30

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 23% net margin
✓ Sales up 31% vs last year
✓ Profit up 1,413% vs last year
✓ Strong 17% return on equity
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
! 100.0% of promoter stake pledged

What if I invest in INDOBORAX?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹435▲ +0.27%
latest close · 2026-11-04
52-wk low ₹95138 sessions so far52-wk high ₹543
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio21.4Average
LowAverageHigh
P/B ratio3.61High
Below bookModerateHigh
EV / EBITDA15.4High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity16.8%Strong
WeakFairStrong ▸15%
Return on capital22.7%Strong
WeakFairStrong
Net margin23.1%Strong
ThinDecentStrong
EBITDA margin31.8%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover450.9×Strong
RiskyOkayStrong ▸5×
Current ratio20.85Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹1,395 cr
Book value
₹120
EPS
₹5.07
latest quarter
Net debt
₹-14 cr
more cash than debt
Enterprise value
₹1,382 cr
EBITDA
₹89 cr
annualised
EBIT
₹88 cr
annualised
Operating margin
31.3%
Return on assets
16.1%
Earnings yield
4.66%
P/S
4.96
Sales / share
₹87.7
Tax rate
26.1%
Face value
₹1
Shares
3.2 cr
Working capital
₹309 cr
Current assets
₹324 cr
Current liabilities
₹16 cr
Delivery %
47.2%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹114–₹162, midpoint ₹116

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹70 cr
Other Income₹3 cr
Total Income₹73 cr
Cost of Materials₹35 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-20.3 L
Employee Benefit Expense₹5 cr
Finance Costs₹4.9 L
Depreciation & Amortisation₹30.6 L
Other Expenses₹10 cr
Total Expenses₹51 cr
Profit before Tax₹22 cr
Tax Expense₹6 cr
Net Profit₹16 cr
Net margin on total income22.3%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹35 cr48.0%
Employee benefit expense₹5 cr7.0%
Finance costs₹4.9 L0.1%
Depreciation & amortisation₹30.6 L0.4%
Other expenses₹10 cr14.3%
Tax expense₹6 cr7.9%
Profit for the period₹16 cr22.3%
Total income ₹73 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue41 cr63 cr70 cr
Total income45 cr68 cr73 cr
Expenses33 cr51 cr51 cr
Profit before tax12 cr17 cr22 cr
Tax3 cr3 cr6 cr
Net profit (owners' share)10 cr16 cr16 cr
Net margin (owners' share, on revenue)24.1%25.1%23.1%
EPS (₹)2.894.535.07
YoY (latest quarter): total income +28.9% · net profit +1,412.8%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹405 cr
Shareholder equity
₹387 cr
parent shareholders
Total debt
₹0 cr
Cash
₹14 cr
Cash flow · H1 FY26
Operating
₹44 cr
Investing
₹14 cr
Financing
₹-3 cr
Peer comparison
Commodity Chemicals · by market value
CompanyPriceMarket capP/E
SRF Limited₹2,429₹71,989 cr35.3
Tata Chemicals Limited₹610₹54,596 cr—
Deepak Fertilizers and Petrochemicals Corporation Limited₹1,128₹14,244 cr7.3
Gujarat Narmada Valley Fertilizers and Chemicals Limited₹465₹6,836 cr8.8
Gujarat Alkalies and Chemicals Limited₹555₹4,076 cr18.5
GHCL Limited₹403₹3,705 cr8.2
J.G.Chemicals Limited₹580₹2,273 cr22.7
IG Petrochemicals Limited₹554₹1,707 cr6.4
Thirumalai Chemicals Limited₹119₹1,439 cr—
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
9.20%
trailing 12 months
Dividend / share (TTM)
₹40
Last dividend
₹10
ex 21 Jul 2026
ActionDetailEx-date
Dividend₹10 / share21 Jul 2026
Dividend₹30 / share21 Jul 2026
Dividend₹1 / share18 Sep 2025
Dividend₹1 / share20 Aug 2024
Dividend₹1 / share11 Aug 2023
Dividend₹1 / share18 Aug 2022
Who owns it · 2026-09-30
⚑ 100.0% pledged
Promoter
38.4%
FII / Foreign
0.1%
DII / Domestic
0.0%
Retail / others
61.5%
Promoter stake down 13.7% over the last 12 quarters.
Smart-money activity
Insider trades
SoldSAJAL JAIN · Promoters7,430 · ₹13.5 L16 Feb 24
SoldSAJAL JAIN · Promoters92,570 · ₹1.7 cr16 Feb 24
SoldSAUMYA JAIN · Promoter Group25,000 · ₹30.8 L19 May 23
Bulk / block deals
SoldSILVERLEAF CAPITAL SERVICES PRIVATE LIMITED · NSE1.89 L @ ₹490.4728 Sep 26
BoughtSILVERLEAF CAPITAL SERVICES PRIVATE LIMITED · NSE1.89 L @ ₹490.3328 Sep 26
BoughtNK SECURITIES RESEARCH PRIVATE LIMITED · NSE3.69 L @ ₹488.7428 Sep 26
Stake changes
BoughtCatalyst Trusteeship Limited→ 38.42% · 24.45 L12 May 26
BoughtZenrock Chemicals Private Limited→ 58.41% · 24.45 L30 Apr 26
BoughtCatalyst Trusteeship Limited · promoter→ 30.80% · 98.82 L3 Feb 26
Promoter pledges
PledgedCatalyst Trsuteeship ltd & Lender are 1. India Special Asset Fund III, 2IS AF III Offshore Fund 3 Special Situation india24.45 L · 30.80% held12 May 26
PledgedCatalyst Trusteeship Limited & Lender are 1. India Special Asset Fund III, 2. IS AF III Offshore Fund, 3. Special Situation Fund98.82 L · 0.00% held3 Feb 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 10 Sep 2026
See the official result
1
TO CONSIDER AND APPROVE THE BORROWING LIMITS OF THE COMPANY AS PER THE PROVISION OF SECTION 180(1)(C) OF THE COMPANIES ACT, 2013 UPTO RS. 400,00,00,000/- (RUPEES FOUR HUNDRED CRORE ONLY)
Backed by 95% of shareholders other than promotersneeded 75%
64.25 L votes for, 3.73 L against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 5 named members
owning 38.4% between them · as of 2026-09-30
ZENROCK CHEMICALS PRIVATE LIMITED38.41%
HARSH MALHOTRAno shares
MADHU KAPOORno shares
RADHIKA MALHOTRAno shares
SUNIL MALHOTRAno shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.