Laxmi Organic Industries Ltd
Laxmi Organic Industries Limited was established in 1989 and is in the business of specialty chemicals. The Company primarily manufactures Ethyl Acetate, Acetic Acid and Diketene Derivative Products (DDP). DDP is a specialty chemical group, the technology and business of which has been acquired by the company from Clariant Chemicals India Limited.
The company’s business operations are carried in over 30 countries including 11 offices located in India
- Market Cap ₹ 5,657 Cr.
- Current Price ₹ 204
- High / Low ₹ 284 / 160
- Stock P/E 46.9
- Book Value ₹ 69.0
- Dividend Yield 0.24 %
- ROCE 8.77 %
- ROE 6.16 %
- Face Value ₹ 2.00
Pros
- Company's working capital requirements have reduced from 20.9 days to 11.2 days
Cons
- Stock is trading at 2.96 times its book value
- Company has a low return on equity of 7.72% over last 3 years.
- Dividend payout has been low at 11.5% of profits over last 3 years
- Promoter holding has decreased over last 3 years: -3.16%
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 902 | 1,008 | 1,273 | 1,429 | 1,359 | 1,606 | 2,877 | 2,691 | 2,824 | 2,945 | 2,898 | |
| 825 | 892 | 1,124 | 1,275 | 1,239 | 1,401 | 2,541 | 2,444 | 2,566 | 2,655 | 2,656 | |
| Operating Profit | 76 | 116 | 149 | 154 | 120 | 205 | 337 | 247 | 258 | 289 | 242 |
| OPM % | 8% | 12% | 12% | 11% | 9% | 13% | 12% | 9% | 9% | 10% | 8% |
| 3 | 2 | 4 | 6 | 33 | 9 | 21 | 29 | 29 | 19 | 27 | |
| Interest | 18 | 11 | 10 | 16 | 15 | 18 | 17 | 22 | 6 | 20 | 17 |
| Depreciation | 28 | 27 | 29 | 41 | 48 | 45 | 47 | 70 | 105 | 122 | 109 |
| Profit before tax | 32 | 81 | 113 | 103 | 90 | 151 | 294 | 183 | 176 | 166 | 142 |
| Tax % | 23% | 12% | 32% | 24% | 13% | 19% | 18% | 27% | 28% | 29% | |
| 25 | 71 | 77 | 78 | 79 | 123 | 240 | 135 | 127 | 118 | 121 | |
| EPS in Rs | 24.56 | 70.71 | 76.66 | 15.54 | 17.46 | 4.65 | 9.09 | 5.08 | 4.62 | 4.26 | 4.36 |
| Dividend Payout % | 4% | 0% | 0% | 2% | 10% | 11% | 8% | 10% | 13% | 12% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 1% |
| TTM: | 2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | -22% |
| TTM: | -23% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -14% |
| 1 Year: | -17% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 8% |
| Last Year: | 6% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 50 | 45 | 53 | 53 | 53 | 55 | 55 |
| Reserves | 224 | 294 | 370 | 405 | 396 | 992 | 1,230 | 1,367 | 1,745 | 1,857 |
| 199 | 79 | 194 | 143 | 138 | 75 | 99 | 372 | 139 | 255 | |
| 158 | 227 | 258 | 359 | 445 | 616 | 785 | 537 | 880 | 874 | |
| Total Liabilities | 590 | 610 | 832 | 958 | 1,024 | 1,735 | 2,166 | 2,329 | 2,820 | 3,040 |
| 207 | 195 | 273 | 327 | 327 | 315 | 361 | 694 | 872 | 1,161 | |
| CWIP | 33 | 48 | 30 | 31 | 23 | 60 | 177 | 88 | 459 | 419 |
| Investments | 19 | 23 | 20 | 20 | 21 | 25 | 32 | 287 | 149 | 167 |
| 332 | 344 | 509 | 579 | 653 | 1,335 | 1,597 | 1,259 | 1,341 | 1,294 | |
| Total Assets | 590 | 610 | 832 | 958 | 1,024 | 1,735 | 2,166 | 2,329 | 2,820 | 3,040 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 135 | 110 | 61 | 161 | 521 | 114 | |||||
| -3 | -604 | 44 | -362 | -494 | -274 | |||||
| -115 | 485 | -87 | 241 | -10 | 91 | |||||
| Net Cash Flow | 17 | -9 | 17 | 40 | 16 | -68 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 61 | 78 | 83 | 78 | 85 | 87 | 79 | 73 | 78 | 67 |
| Inventory Days | 61 | 34 | 51 | 48 | 57 | 59 | 60 | 50 | 48 | 68 |
| Days Payable | 70 | 85 | 83 | 112 | 154 | 155 | 127 | 93 | 146 | 133 |
| Cash Conversion Cycle | 52 | 27 | 51 | 13 | -12 | -8 | 12 | 30 | -20 | 3 |
| Working Capital Days | 12 | 16 | 25 | 27 | 34 | 5 | 42 | 33 | 18 | 11 |
| ROCE % | 22% | 26% | 20% | 14% | 20% | 25% | 13% | 9% | 9% |
Documents
Announcements
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Intimation Under Regulation 30(4) Of SEBI (Listing Obligation And Disclosure Requirements) Regulation, 2015
18 Oct - Received GPCB CTO; commissioned Dahej first phase; first shipment dispatched; commercial operations commenced.
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Announcement Under Regulation 30(LODR)- Newspaper Intimation Under Saksham Niveshak
17 Oct - Newspaper notice (Oct 17, 2025) on IEPF 'Saksham Niveshak' 100-day KYC/claim campaign, RTA MUFG contact.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
15 Oct - Earnings call Oct 30, 2025 14:00 IST to discuss Q2 FY26 results.
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Board Meeting Intimation for Approval Of Unaudited Financial Results (Standalone & Consolidated) Of The Company For The Quarter And Half-Year Ended September 30, 2025.
15 Oct - Board meeting on Oct 29, 2025 to approve unaudited Q2/H1 results for period ended Sep 30, 2025; analyst meet post-meeting.
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Disclosure (Update On Litigation) As Required Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
14 Oct - Supreme Court dismissed MSEDCL SLP Oct 6, 2025; APTEL order on wheeling charges final.
Annual reports
Concalls
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT
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Oct 2023Transcript PPT REC
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Feb 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Aug 2021TranscriptNotesPPT
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May 2021Transcript PPT
Product Portfolio[1]
a) Essentials Segment
The Segment includes products like Ethyl Acetate, Acetic Anhydride, Acetaldehyde, various solvents, ethanol, and n-Butyl/Ethyl Acetate. These cater primarily to the pharmaceutical, packaging, and industrial sectors.