Indo Borax & Chemicals Ltd

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

₹ 502 -1.88%
24 Aug 3:22 p.m.
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 ₹ 1,611 Cr.
  • Current Price ₹ 502
  • High / Low ₹ 525 / 224
  • Stock P/E 32.9
  • Book Value ₹ 120
  • Dividend Yield 2.03 %
  • ROCE 15.4 %
  • ROE 10.1 %
  • 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.
  • Promoter holding has increased by 7.61% over last quarter.

Cons

  • The company has delivered a poor sales growth of 8.37% over past five years.
  • Company has a low return on equity of 12.2% over last 3 years.
  • Promoters have pledged 100% of their holding.
  • Earnings include an other income of Rs.25.1 Cr.
  • Dividend payout has been low at 7.39% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -13.7%

* 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

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
55 47 44 45 50 38 38 50 54 58 41 63 70
43 37 35 34 33 29 27 40 41 47 32 50 51
Operating Profit 12 10 9 12 16 9 10 10 12 10 9 13 20
OPM % 22% 22% 21% 25% 33% 24% 27% 20% 23% 18% 21% 20% 28%
3 3 3 3 3 4 4 4 3 13 4 5 3
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 0 1 1 1 1 1 1 1 0
Profit before tax 14 12 11 14 19 13 14 13 14 23 12 17 22
Tax % 27% 27% 27% 20% 27% 29% 34% 20% 29% 28% 24% 17% 26%
10 9 8 11 14 9 9 10 10 16 9 15 16
EPS in Rs 3.23 2.78 2.56 3.56 4.37 2.86 2.83 3.19 3.18 5.07 2.89 4.53 5.06
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
87 70 67 101 128 115 144 176 225 191 175 215 232
69 57 56 83 108 97 100 128 163 149 129 171 180
Operating Profit 19 12 10 18 20 19 44 48 62 43 46 44 52
OPM % 21% 18% 15% 17% 16% 16% 31% 27% 28% 22% 26% 21% 22%
3 3 3 4 6 5 4 3 9 12 16 25 25
Interest 1 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 3
Profit before tax 20 14 12 20 24 22 47 50 69 52 59 67 74
Tax % 32% 32% 31% 34% 28% 24% 26% 27% 26% 25% 28% 24%
14 9 8 13 18 17 34 36 51 39 43 50 56
EPS in Rs 4.08 2.88 2.49 4.17 5.46 5.28 10.67 11.33 15.80 12.15 13.25 15.67 17.55
Dividend Payout % 4% 5% 6% 4% 3% 4% 9% 1% 6% 8% 8% 6%
Compounded Sales Growth
10 Years: 12%
5 Years: 8%
3 Years: -1%
TTM: 30%
Compounded Profit Growth
10 Years: 15%
5 Years: 1%
3 Years: -9%
TTM: 27%
Stock Price CAGR
10 Years: 33%
5 Years: 28%
3 Years: 45%
1 Year: 98%
Return on Equity
10 Years: 15%
5 Years: 15%
3 Years: 12%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 75 84 91 101 118 135 170 204 252 290 332 383
5 2 1 0 0 0 0 0 0 0 0 1
9 8 10 12 11 10 17 14 20 18 21 17
Total Liabilities 92 97 106 117 132 149 190 222 275 311 357 405
11 21 52 51 50 46 89 91 96 99 101 48
CWIP 2 2 1 1 1 1 1 1 1 1 1 1
Investments 14 32 23 20 37 18 30 4 9 43 57 209
65 43 29 45 44 84 70 126 169 169 198 147
Total Assets 92 97 106 117 132 149 190 222 275 311 357 405

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0 18 21 1 15 13 16 11 60 69 -104 87
13 -26 -24 5 -16 26 -54 26 -8 -30 -7 -77
-1 -4 -1 -2 -1 -1 -1 -3 -3 -3 -3 -3
Net Cash Flow 12 -12 -4 5 -2 38 -39 34 49 36 -115 7
Free Cash Flow -10 7 19 1 14 13 15 11 57 65 -111 106
CFO/OP 38% 186% 226% 37% 111% 100% 61% 54% 123% 197% -194% 242%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 25 30 28 32 27 26 22 21 21 26 33 18
Inventory Days 252 221 70 59 53 56 176 309 195 80 210 102
Days Payable 35 39 35 19 9 15 31 23 12 13 24 10
Cash Conversion Cycle 242 211 63 72 71 66 166 307 204 93 218 110
Working Capital Days 139 120 45 74 66 40 81 143 96 48 175 165
ROCE % 26% 16% 13% 20% 21% 17% 30% 26% 29% 19% 18% 15%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Installed Capacity - Boric Acid
MTPA ・Standalone data

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Production Growth - Boron Products
% ・Standalone data
Sales Volume - DOT
MT ・Standalone data
Boric Acid Realisation
Rs/kg ・Standalone data
Installed Capacity - DOT
MTPA ・Standalone data
Market Share in Boric Acid (India)
% ・Standalone data
Planned Capacity - Boron Oxide
MTPA ・Standalone data
Sales Volume - Boric Acid (Technical + IP)
MT ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

30 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
52.07% 52.07% 50.80% 50.79% 50.79% 50.79% 50.79% 50.79% 50.79% 50.79% 30.80% 38.41%
0.01% 0.03% 0.10% 0.00% 0.06% 0.01% 0.02% 0.02% 0.53% 0.23% 0.45% 0.13%
0.00% 0.00% 0.00% 0.06% 0.00% 0.00% 0.01% 0.02% 0.02% 0.02% 2.19% 0.04%
47.90% 47.89% 49.09% 49.15% 49.14% 49.20% 49.16% 49.16% 48.67% 48.96% 66.56% 61.43%
No. of Shareholders 27,02927,86328,11127,43629,81729,64628,60327,03922,38721,09120,46620,592

* 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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