Meghmani Organics Ltd

Meghmani Organi. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Meghmani Organics Ltd

₹ 47.8 -2.05%
01 Jun - close price
meghmani.com BSE: 543331 NSE: MOL
About

Founded in 1986 as M/s Gujarat Industries, the company was incorporated in 1995 as Meghmani Organics Limited. The company manufactures Pigments and Agrochemicals through its 6 manufacturing facilities located in Gujarat. The company is amongst the top 3 Phthalocyanine based pigment players in the world and amongst the top 10 producers of pesticides in India.[1]Meghmani Organics Ltd (MOL) manufactures green and blue pigment products, which are used to manufacture printing ink, plastic, paints, textiles, leather, and rubber.

It also manufactures a wide variety of commonly used pesticides for crop and non-crop applications, this include insect control in wood preservation and food grain storage.

Key Points

Business Segments
A) Agro Chemicals (70% in FY25 vs 76% in FY23): [1] [2] [3] The company manufactures products across the entire value chain, including technicals, intermediates, and formulations for insecticides and herbicides. Key intermediates include cypermethrin acid chloride, meta phenoxy benzaldehyde, and meta phenoxy benzyl alcohol. It has manufacturing facilities at Ankleshwar, Panoli, & Dahej in Gujarat. It generates over 80% revenue from export markets, including Africa, Brazil, Latin America, the US, and Europe. About 45% of the demand comes from the US and Brazil. It has a product registration base of 788 as of FY25 vs 693 in FY23.[4] [5] The company reported revenue and EBITDA growth of 34% and 301% YoY, respectively, in FY25, driven by higher production and improved realization. [6]

Website BSE NSE
  • Market Cap ₹ 1,215 Cr.
  • Current Price ₹ 47.8
  • High / Low ₹ 106 / 36.4
  • Stock P/E 9.70
  • Book Value ₹ 69.1
  • Dividend Yield 0.00 %
  • ROCE 10.4 %
  • ROE 7.39 %
  • Face Value ₹ 1.00
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Pros

  • Stock is trading at 0.69 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 5.20% over past five years.
  • Company has a low return on equity of 2.75% over last 3 years.
  • Contingent liabilities of Rs.648 Cr.
  • Earnings include an other income of Rs.93.5 Cr.

* 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 Fertilizers & Agrochemicals Pesticides & Agrochemicals

Part of BSE Commodities BSE 1000

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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
565 422 374 345 400 411 533 558 502 593 558 485 457
481 437 359 345 390 397 491 498 438 512 487 433 430
Operating Profit 84 -15 15 -0 10 14 41 60 65 81 70 51 26
OPM % 15% -4% 4% -0% 3% 3% 8% 11% 13% 14% 13% 11% 6%
9 7 13 10 14 7 13 10 14 17 28 14 34
Interest 15 4 12 26 2 9 24 6 14 24 19 14 17
Depreciation 20 21 20 21 20 21 22 22 22 22 22 22 22
Profit before tax 57 -34 -5 -38 2 -9 8 42 44 52 58 30 22
Tax % 21% -25% -20% -28% 121% -31% -4% 28% 22% 22% 25% 27% 10%
45 -25 -4 -27 -0 -6 9 30 34 41 43 22 20
EPS in Rs 1.77 -0.99 -0.14 -1.07 -0.02 -0.25 0.34 1.19 1.34 1.59 1.69 0.88 0.77
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 6m Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
693 1,623 2,494 2,557 1,540 2,004 2,092
589 1,343 2,114 2,192 1,529 1,822 1,863
Operating Profit 104 281 380 365 10 182 229
OPM % 15% 17% 15% 14% 1% 9% 11%
138 30 102 95 42 42 94
Interest 18 11 9 64 43 53 73
Depreciation 22 51 60 68 83 86 87
Profit before tax 201 249 412 327 -74 85 162
Tax % 22% 26% 25% 24% -24% 22% 22%
157 185 308 250 -57 66 125
EPS in Rs 31,328.00 37,002.00 12.11 9.85 -2.22 2.61 4.93
Dividend Payout % 16% 19% 12% 14% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 5%
3 Years: -6%
TTM: 4%
Compounded Profit Growth
10 Years: %
5 Years: -7%
3 Years: -21%
TTM: 86%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -17%
1 Year: -45%
Return on Equity
10 Years: %
5 Years: 9%
3 Years: 3%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 25 25 25 25 25 25 25
Reserves 957 1,142 1,415 1,631 1,539 1,607 1,733
264 268 499 696 602 576 532
406 532 794 649 622 672 693
Total Liabilities 1,652 1,967 2,733 3,001 2,788 2,879 2,984
481 633 735 999 945 964 921
CWIP 101 112 187 145 148 72 69
Investments 192 306 348 443 575 591 685
879 916 1,463 1,414 1,120 1,252 1,309
Total Assets 1,652 1,967 2,733 3,001 2,788 2,879 2,984

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
18 333 69 264 339 125 229
16 -306 -267 -356 -176 -41 -124
-26 -14 187 111 -177 -80 -111
Net Cash Flow 8 13 -11 19 -13 5 -6
Free Cash Flow -52 125 -172 -10 273 94 190
CFO/OP 45% 144% 43% 95% 3,326% 71% 113%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 244 91 79 77 103 96 114
Inventory Days 266 152 158 149 175 164 144
Days Payable 211 138 144 106 173 148 143
Cash Conversion Cycle 300 105 93 120 105 112 114
Working Capital Days 151 56 59 53 19 20 19
ROCE % 19% 24% 18% -1% 6% 10%

Insights

In beta
Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Capacity Utilisation - Crop Protection
%

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Capacity Utilisation - Pigments
%
Installed Capacity - Crop Protection
MTPA
Installed Capacity - Pigments
MTPA
Production Volume - Crop Protection
MT
Production Volume - Pigments
MT
Total Product Registrations - CIB (India)
Number
Total Product Registrations - Exports
Number
Installed Capacity - Titanium Dioxide (TiO2)
MTPA

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Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
49.50% 49.32% 49.32% 49.32% 49.32% 49.33% 49.33% 49.41% 48.98% 48.98% 48.98% 48.95%
1.50% 1.34% 1.30% 1.52% 1.39% 2.22% 1.90% 1.81% 1.94% 1.48% 1.33% 1.34%
0.45% 0.61% 0.26% 0.20% 0.20% 0.42% 0.27% 0.48% 0.37% 0.00% 0.00% 0.00%
0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
48.51% 48.69% 49.09% 48.93% 49.05% 47.98% 48.46% 48.24% 48.68% 49.50% 49.65% 49.66%
No. of Shareholders 1,31,3361,40,6721,40,8291,52,7031,46,0101,28,8751,27,3921,26,6171,28,0821,31,8531,35,0311,34,841

* 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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