Indo Borax & Chemicals Ltd

Indo Borax & Ch. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Indo Borax & Chemicals Ltd

₹ 367 2.43%
05 Jun - close price
indoborax.com BSE: 524342 NSE: INDOBORAX
About

Incorporated in 1980, Indo Borax & Chemicals Ltd is in the business of manufacturing Boron and Lithium products[1]

Key Points

Change in Ownership[1]
Company informed that the share purchase transaction under the SPA has been completed on January 23, 2026, wherein the existing promoter group (Jain family) transferred 1.63 crore equity shares representing ~50.8% stake to the acquirers including Zenrock Chemicals Pvt. Ltd., India Special Assets Fund III and Special Situation India Fund, resulting in a change in control and exit of the erstwhile promoters from the company’s shareholding.

Website BSE NSE
  • Market Cap ₹ 1,179 Cr.
  • Current Price ₹ 367
  • High / Low ₹ 371 / 189
  • Stock P/E 27.8
  • Book Value ₹ 120
  • Dividend Yield 0.27 %
  • ROCE 15.5 %
  • ROE 11.8 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Debtor days have improved from 25.5 to 17.6 days.

Cons

  • Promoter holding has decreased over last quarter: -20.0%
  • The company has delivered a poor sales growth of 8.37% over past five years.
  • Promoter holding is low: 30.8%
  • Company has a low return on equity of 12.8% over last 3 years.
  • Promoters have pledged 100% of their holding.
  • Earnings include an other income of Rs.24.9 Cr.
  • Dividend payout has been low at 5.34% of profits over last 3 years
  • Working capital days have increased from 212 days to 479 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Chemicals Chemicals & Petrochemicals Commodity Chemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
56 55 47 44 45 50 38 38 50 54 58 41 63
41 43 37 35 34 33 29 27 40 41 47 32 50
Operating Profit 15 12 10 9 12 16 9 10 10 12 10 9 13
OPM % 28% 22% 22% 21% 25% 33% 24% 27% 20% 23% 18% 21% 20%
2 3 3 3 3 3 4 4 4 3 13 4 5
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 0 1 1 1 1 1 1 1
Profit before tax 17 14 12 11 14 19 13 13 13 14 22 12 17
Tax % 26% 27% 27% 28% 20% 27% 29% 34% 20% 29% 28% 24% 17%
13 10 9 8 11 14 9 9 10 10 16 9 14
EPS in Rs 3.90 3.19 2.74 2.52 3.52 4.32 2.81 2.78 3.14 3.13 5.01 2.84 4.52
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
73 65 67 97 128 115 144 175 215 191 175 215
57 53 56 79 108 97 100 128 153 149 129 171
Operating Profit 16 12 10 17 20 19 44 48 62 43 46 44
OPM % 21% 18% 16% 18% 16% 16% 31% 27% 29% 22% 26% 20%
4 3 3 4 5 5 4 3 8 11 15 25
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 1 2 2 3 3
Profit before tax 18 14 12 20 24 23 47 50 69 51 58 66
Tax % 32% 32% 30% 35% 27% 23% 26% 27% 26% 25% 28% 24%
12 9 8 13 18 18 35 36 50 38 42 50
EPS in Rs 3.87 2.85 2.59 4.09 5.48 5.46 10.82 11.31 15.70 11.97 13.05 15.50
Dividend Payout % 4% 5% 6% 4% 3% 4% 9% 1% 6% 8% 8% 0%
Compounded Sales Growth
10 Years: 13%
5 Years: 8%
3 Years: 0%
TTM: 23%
Compounded Profit Growth
10 Years: 17%
5 Years: 4%
3 Years: -4%
TTM: 3%
Stock Price CAGR
10 Years: 26%
5 Years: 23%
3 Years: 44%
1 Year: 87%
Return on Equity
10 Years: 15%
5 Years: 15%
3 Years: 13%
Last Year: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 3 3 3 3 3 3 3 3 3 3 3 3
Reserves 74 83 91 100 117 135 170 204 252 289 331 381
0 0 0 0 0 0 0 0 0 0 0 1
8 8 9 12 11 10 17 14 20 18 21 17
Total Liabilities 85 94 103 116 131 148 190 222 275 310 355 403
11 20 52 51 50 46 89 91 96 99 101 48
CWIP 2 2 1 1 1 1 1 1 1 1 1 1
Investments 15 33 24 21 38 19 41 14 19 53 67 207
58 39 26 43 42 83 59 116 158 157 186 147
Total Assets 85 94 103 116 131 148 190 222 275 310 355 403

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-7 12 20 -2 15 13 26 11 51 70 -61 76
22 -23 -24 5 -16 26 -63 26 -8 -31 -8 -65
-2 -1 -0 -1 -1 -0 -1 -3 -3 -3 -3 -3
Net Cash Flow 14 -12 -4 3 -2 39 -38 34 39 36 -72 7
Free Cash Flow -17 1 18 -2 14 13 25 11 46 65 -68 95
CFO/OP -4% 141% 217% 22% 111% 100% 83% 53% 107% 197% -99% 216%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 17 30 28 33 27 25 22 21 22 26 33 18
Inventory Days 237 205 38 62 53 56 117 262 215 80 210 102
Days Payable 40 41 34 20 9 15 31 23 13 13 24 10
Cash Conversion Cycle 214 195 31 75 71 66 108 260 224 93 218 110
Working Capital Days 121 108 29 77 66 39 56 123 100 47 111 479
ROCE % 25% 17% 13% 20% 22% 17% 30% 26% 29% 18% 18% 15%

Insights

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Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Number of Permanent Employees
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Trade Receivables Turnover
ratio
Installed Capacity - Boron Products
MTPA
Production Growth - Boron Products
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
52.07% 52.07% 52.07% 50.80% 50.79% 50.79% 50.79% 50.79% 50.79% 50.79% 50.79% 30.80%
0.22% 0.01% 0.03% 0.10% 0.00% 0.06% 0.01% 0.02% 0.02% 0.53% 0.23% 0.45%
0.00% 0.00% 0.00% 0.00% 0.06% 0.00% 0.00% 0.01% 0.02% 0.02% 0.02% 2.19%
47.71% 47.90% 47.89% 49.09% 49.15% 49.14% 49.20% 49.16% 49.16% 48.67% 48.96% 66.56%
No. of Shareholders 22,91927,02927,86328,11127,43629,81729,64628,60327,03922,38721,09120,466

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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