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Kanoria Chemicals & Industries Ltd (KANORICHEM)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506525 NSE: KANORICHEM Chemicals | Small Cap | Kanoria Chem. & Inds Share Price

₹130 -2.40 (-1.81%)

As on 07-Jul'26 12:24

Kanoria Chemicals & Industries Ltd (KANORICHEM)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506525 NSE: KANORICHEM Chemicals | Small Cap | Kanoria Chem. & Inds Share Price

₹130 -2.40 (-1.81%)

As on 07-Jul'26 12:24

Key Metrics
Valuation Multiples
Market Cap
₹579 Cr.
Current Price
₹130
52-Week Low / High
₹56 / 139
TTM EPS
₹7.9
TTM Sales
₹875 Cr.
Book Value per Share
₹146.1
P/E Ratio
16.81
Industry PE
52.9
Price to Book (P/B)
0.91
Higher than its 5-year historical median
Price to Sales (P/S)
0.66
Lower than its 5-year historical median
EV/EBITDA
9.26
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-6.27%
Underperforms industry median
Return on Capital Employed (ROCE)
-1.44%
Underperforms industry median
Return on Assets (ROA)
-4.03%
Operating Profit Margin
5.9%
Net Profit Margin
-5.73%
Gross Profit Margin
5.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
17.58%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
488.68%
Net Profit Growth (1 Year)
-
-1680.49%
Asset Quality
Promoter Holding
74.40%
Pledged shares (%) of Promoter's holding (%)
29.57%
Reserves
₹616 Cr.
Equity
₹21.9 Cr.
Face Value
₹5
All Time Low / High
₹3.02 / 219.70

Kanoria Chemicals & Industries stock performance

Key Ratios
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Quality

Not Good
Check detailed performance

Valuation

Fair

Check Valuation charts

Price Trend

Strong
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Q.1 Is Kanoria Chemicals & Industries Ltd a good quality company?
Kanoria Chemicals & Industries Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

View More

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Kanoria Chemicals & Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Kanoria Chemicals & Industries Ltd vs industry peers?
Kanoria Chemicals & Industries Ltd revenue CAGR is 13.52%, compared to the industry median CAGR of 7.53%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Kanoria Chemicals & Industries Ltd?
Promoters hold 74.40% of the Kanoria Chemicals & Industries Ltd, with 29.57% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of Kanoria Chemicals & Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 2.9% based on the current price.
View More

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Kanoria Chemicals & Industries Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ5%1.7%2.1%2.5%0.8%1%6.7%2.5%1.7%-1.4%-
Value Creation
Index ⓘ		-0.6-0.9-0.9-0.8-1.0-0.9-0.5-0.8-0.9-1.1-

Growth Parameters ⓘ
Sales ⓘ297296339448360388649675577678875
Sales YoY Gr.--0.4%14.6%32.1%-19.6%7.8%67.3%4%-14.6%17.6%-
Adj EPS ⓘ3.27.20.32.1-1.30.45.7-0.9-2.1-2.47.9
YoY Gr.-125.6%-95.6%568.8%-160.3%NA1446%-115.4%NANA-
BVPS (₹) ⓘ138.1140.6139.5142.6141.2140.5146.2146.6146.3137.6146.1
Adj Net
Profit ⓘ		1431.51.49.3-5.61.625-3.8-9-10.434
Cash Flow from Ops. ⓘ43.55.828.641.412.118.749.12525.717-
Debt/CF from Ops. ⓘ2.820.33.52.9126.7255.611.6-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ9.6%13.5%1.5%17.6%
Adj EPS ⓘ-196.8%NA-174.8%NA
BVPSⓘ-0%-0.5%-2%-6%
Share Price 6.6% -3.7% 5.6% 45.1%

Key Financial Parameters ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		2.65.20.21.5-0.90.34-0.6-1.4-1.75.6
Op. Profit
Mgn % ⓘ		11.410.23.95.927.39.22.81.15.96.3
Net Profit
Mgn % ⓘ		4.710.70.42.1-1.60.43.9-0.6-1.6-1.53.9
Debt to
Equity ⓘ		0.20.20.20.20.20.20.20.20.20.30.2
Working Cap
Days ⓘ		19422123719227028316515218818756
Cash Conv.
Cycle ⓘ		505956375149384241341

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales297296339448360388649675577678
Operating Expenses ⓘ + 264267326421354364590661570640
Manufacturing Costs45394146464463747075
Material Costs183188242327251271470522438493
Employee Cost 20212325302936393741
Other Costs ⓘ 16202023261921272531
Operating Profit ⓘ 332913275245914638
Operating Profit Margin (%) 11.1%9.7%3.9%5.9%1.5%6.3%9.1%2.1%1.1%5.6%
Other Income ⓘ + 2123231421911252516
Exceptional Items ⓘ 0-180-30-4000-45
Interest ⓘ 1137612129101216
Depreciation ⓘ 21202120212221211820
Profit Before Tax ⓘ 229812-6-54092-27
Tax ⓘ 5-1033-6-1153-111
Profit After Tax 171969-1-42562-39
PAT Margin (%) 5.7%6.3%1.7%1.9%-0.2%-1.0%3.9%0.9%0.4%-5.7%
Adjusted EPS (₹)3.94.31.32.0-0.2-0.85.71.40.6-8.9
Dividend Payout Ratio (%)38.60%35%117%38.30%0%0%17.50%0%0%0%

Valuation of Kanoria Chem. & Inds - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 603614610623617614639640639601
Share Capital ⓘ 22222222222222222222
Reserves ⓘ 582593588601595592617619617579
Debt +1011018810913611585108125164
Long Term Debt48292036686559655879
Short Term Debt53726873685127436785
Minority Interest0000000000
Trade Payables18254744676286638180
Others Liabilities ⓘ 1038781877678919699141
Total Liabilities ⓘ 826827826863896869901907944986

Fixed Assets

Net Fixed Assets ⓘ +365362404392422404400405380423
Gross Block386402464473524528544563558588
Accumulated Depreciation21406181102124144159179165
CWIP ⓘ 15277341113503214
Investments ⓘ 223184145171149143209218210163
Inventories27324228544452535659
Trade Receivables4155536262831148678106
Cash Equivalents 423837291825012
Others Assets ⓘ 111130138146180179116145188219
Total Assets ⓘ 826827826863896869901907944986

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 4462941121949252617
PBT ⓘ 229814-6-14092-27
Adjustment ⓘ 1623111423301916671
Changes in Working Capital ⓘ 3-221216-6-11-10419-25
Tax Paid ⓘ 2-5-2-320-1-4-1-1
Cash Flow From Investing Activity ⓘ + -4075-44-168-10-42-33-53
Capex -35-31-38-33-27-7-12-12-31-34
Net Investments 5548442434112-9239
Others ⓘ -60-10-2-35-2341-22-24-29
Cash Flow From Financing Activity ⓘ + 1-17-3266-33-3714738
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ 00000000-636
Interest Paid ⓘ -10-4-8-7-13-13-9-9-12-16
Dividend Paid ⓘ -8-8-8-8-400-400
Others ⓘ 19-5-162023-21-27272418
Net Cash Flow ⓘ 4-4233-73-4-02

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)3.113.070.911.39-0.13-0.63.990.930.38-6.27
ROCE (%)5.031.72.122.480.760.996.682.461.73-1.44
Asset Turnover Ratio0.440.40.420.530.410.440.730.750.620.7
PAT to CFO Conversion(x)2.590.324.834.56N/AN/A1.964.1713N/A
Working Capital Days
Receivable Days44.9053.9056.90476368.3055.6054.1051.8049.50
Inventory Days35.8033.103928.5041.8046.4027.1028.3034.4031
Payable Days46.5042.5054.8050.9080.6086.9057.505259.7059.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *29.5729.5729.5729.5729.5729.5729.5729.5729.5729.57
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Kanoria Chemicals & Industries Ltd FAQs

The current trading price of Kanoria Chem. & Inds on 07-Jul-2026 12:24 is ₹130.0.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 06-Jul-2026 the market cap of Kanoria Chem. & Inds stood at ₹578.5 Cr

The latest P/E ratio of Kanoria Chem. & Inds as of 06-Jul-2026 is 16.81.

The latest P/B ratio of Kanoria Chem. & Inds as of 06-Jul-2026 is 0.91.

The 52-week high of Kanoria Chem. & Inds is ₹139.2 and the 52-week low is ₹55.72.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kanoria Chem. & Inds is ₹875 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Kanoria Chemicals & Industries Ltd is a below average quality company.

The key valuation ratios of Kanoria Chemicals & Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Kanoria Chemicals & Industries Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Kanoria Chemicals & Industries Ltd

Kanoria Chemicals & Industries is a leading manufacturer of chemical intermediates and specialties in India, with a focus on products for infrastructure and construction. The company also undertake marketing of quality products in India, mainly in the field of chemicals, polymers, paper and paper chemicals, sourced from globally acclaimed manufacturers. Its manufacturing portfolio includes products such as Formaldehyde, Pentaerythritol, Hexamine, Sodium Formate, Phenolic Resins, and Acetaldehyde. 

The company is part of a well-established corporate family with a global presence, employing over 9000 people. Its facilities have ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 and RC 14001:2015 certifications. Its plants operate with cutting edge technology, with a strong focus on process and product R&D.

Apart from chemicals, it has diversified business interests in automotive and industrial electronics and textiles. The company operates international subsidiary -- APAG Elektronik which engaged in the manufacturing of electronics for the Automotive and Industrial segment. It designs and manufactures automotive concept lighting and comfort electronics and provide electronic manufacturing services. Besides, the company has an integrated denim manufacturing unit in Ethiopia, Africa operates through its wholly owned subsidiary, Kanoria Africa Textiles plc (KAT) incorporated in Ethiopia. Furthermore, the company provides data science and engineering, software solutions and process outsourcing for the legal and finance industries under its ‘Intrust Global eServices’ unit. 

Business area of the company 

The company is primarily engaged in manufacture of Industrial Chemicals, Electronic Automotive and Textiles.

Products and services of the company

  • Alco Chemicals Segment
  • Textiles Segment
  • Electronics Automotive Segment
  • Intrust Global eServices

Awards, accreditations and recognition

  • 2013: Both manufacturing units of the company at Ankleshwar and Vishakhapatnam renewed the ISO 9001 certification for quality management systems, the ISO 14001 certification for environment management systems and practices, and OHSAS 18001 certification for organizational health and safety systems. 
  • 2014: The National Safety Council awarded the company’s manufacturing units at Ankleshwar and Vishakhapatnam, a Certificate of Appreciation on the World Day for Safety and Health at Work. 
  • 2014: The company’s plant at Vishakhapatnam received the Occupation Health and Safety Assessment Series (OHSAS) 18001 certification for health and safety management systems.
  • 2015: The company was awarded the prestigious ET (Economic Times) Bengal Corporate Award, 2015 in the category of ‘Fastest Growing Company’ with turnover between Rs 300 crore and Rs 1,000 crore.
  • 2015: The company received the ET Bengal Corporate Award, 2015 as the year’s Fastest growing company in its turnover category.
  • 2020: The company’s manufacturing units at Ankleshwar and Vishakhapatnam received RC 14001:2015 certification for responsible care management systems.

History and milestones: 

  • 1965: Caustic Chlorine plant commissioned at Renukoot in the state of Uttar Pradesh with a capacity of 16,500 TPA of Caustic Soda.
  • 1972: Added Stable Bleaching Powder (SBP) plant with a capacity of 5,000 TPA.
  • 1972: Expansion in capacity of Caustic Chlorine plant to 21,000 TPA.
  • 1972: Started producing own Salt.
  • 1973: Further expansion in capacity of Caustic Chlorine plant to 33,000 TPA.
  • 1977: Expansion in capacity of SBP to 10,000 TPA.
  • 1980: Further expansion of SBP plant to 15,000 TPA.
  • 1983: Commissioned another chemical complex in Ankleshwar in the state of Gujarat, with initial capacity of 1,200 TPA of Pentaerythritol (Penta) and 660 TPA of Sodium Formate.
  • 1987: Commissioned Formaldehyde plant with a capacity of 16,500 TPA.
  • 1988: Commenced production of Acetaldehyde with a capacity of 6,000 TPA.
  • 1988: Expansion in capacity of Penta to 3,000 TPA and consequently Sodium Formate plant to 1,650 TPA.
  • 1991: Expansion in capacity of Acetaldehyde plant to 2,500 TPA.
  • 1992: Commissioned a plant to manufacture Lindane with a capacity of 33 TPA.
  • 1992: Commissioned Hexamine plant with a capacity of 1,500 TPA1991.
  • 1994: Expansion in capacity of Formaldehyde plant to 33,000 TPA.
  • 1994: Started producing Industrial Alcohol (15 million litres per annum)1993.
  • 1997: Commissioned Aluminium Chloride plant with a capacity of 6,875 TPA.
  • 1997: Expansion in capacity of Lindane plant to 660 TPA.
  • 1997: Further expansion in capacity of Lindane plant to 875 TPA.
  • 1997: Further expansion of Penta plant to 5,000 TPA.
  • 1997: Further expansion of Hexamine plant to 4,000 TPA1995.
  • 1998: Commissioned a 25 MW coal-based power plant at Renukoot.
  • 1998: Commissioned Acetic Acid plant with a capacity of 6,000 TPA.
  • 1998: Commissioned Ethyl Acetate plant with a capacity of 3,300 TPA.
  • 1998: Further expansion in capacity of Acetaldehyde plant to 9,000 TPA.
  • 1999: Commissioned a 2 MW Bio-gas plant at Ankleshwar.
  • 1999: Expansion in capacity of Distillery to 225 million litres per annum.
  • 2000: Started producing Hydrogen for commercial purposes.
  • 2002: Further expansion of Acetaldehyde plant to 10,000 TPA
  • 2002: Further expansion of Formaldehyde plant to 50,000 TPA.
  • 2002: Further expansion of Penta plant to 6,000 TPA.
  • 2005: Commissioned a second 25 MW coal-based power plant at Renukoot. 
  • 2005: Further expansion of Aluminium Chloride plant.
  • 2005: Further expansion of Formaldehyde plant to 75,000 TPA.
  • 2006: Expansion in Caustic Soda manufacturing capacity from 50,000 TPA to 90,000 TPA.
  • 2008: Commissioned a 11.500 TPA Chlorinated Paraffins plant.
  • 2008: Commissioned a 15,000 TPA Bleaching Powder Plant.
  • 2008: Further expansion in Caustic Soda manufacturing capacity from 90,000 TPA to 130,000 TPA. 
  • 2011: Divested the Chloro Chemicals manufacturing facility at Renukoot.
  • 2012: Acquired 90% stake in APAG Holdings AG, Switzerland engaged in development and sale of mechatronic modules and control devices.
  • 2012: Set up 5 MW solar power project in Jodhpur district in the state of Rajasthan.
  • 2013: The company successfully commissioned a 5 MW Solar Power Plant in Jodhpur district in the state of Rajasthan.
  • 2013: The company commissioned an automated Phenol Formaldehyde resin plant at Vishakhapatnam, with a capacity of 3,000 MT per annum.
  • 2014: The company signed a non-binding memorandum of understanding with Momentive Specialty Chemicals Inc., USA for cooperation in manufacture and sale of specialty phenolic resins, Formaldehyde and Hexamine.
  • 2014: APAG Holdings AG, Switzerland became a wholly owned subsidiary of the company.
  • 2015: APAG acquired CoSyst Control Systems GmbH based in Nuremberg, Germany.
  • 2015: APAG commissioned its new Greenfield facility in the Czech Republic.
  • 2016: Kanoria Africa Textiles plc inaugurated its integrated denim plant in Ethiopia.
  • 2017: The company has entered into manufacturing and technology collaborations with Hexion Inc. - the global leader in thermoset resins, and ASK Chemicals - a global player in foundry solutions and resins.
  • 2018: APAG has begun the second phase of construction for its primary production plant in the Czech Republic.
  • 2019: The company entered garmenting and installed 118 Garment stitching machines.
  • 2019: The company installed two new Long Chain Beamer (LCB) machines.
  • 2019: The company launched a new production facility in Windsor, ON, Canada across the river from the automotive hub of the Detroit area in the United States.
  • 2020: The company's Formaldehyde plant at Naidupet in the state of Andhra Pradesh started operations.
  • 2020: The company formed a new ‘Product Development Cell’.
  • 2020: The company's Ankleshwar unit received permission from the Indian Chemical Council (ICC) to use Responsible Care Logo (RC Logo).
  • 2022: The company debottlenecked its Formaldehyde manufacturing capacity at Vizagfrom 300 TPD to 345 TPD.
  • 2023: The company put up a pilot plant at Ankleshwar with in-house technology making on-spec product.
  • 2023: The company commissioned its second Phenolic Resins plant at its Ankleshwar unit.
  • 2024: As part of its product diversification strategy, the company resolved to incorporate Triacetin & EGDA into its product portfolio.
  • 2024: The company successfully achieved the Responsible Care certification for both the Ankleshwar and Vizag plant locations for the period from May 2024 to April 2027.
  • 2025: The company successfully commissioned its 345 TPD Formaldehyde plant at Ankleshwar, taking the total Formaldehyde production capacity to 1400 TPD across all manufacturing locations.
  • 2025: The company successfully commissioned its Hexamine plant with 18 TPD capacity at Ankleshwar increasing the total Hexamine capacity to 52 TPD.
  • 2025: The company commissioned its expanded hexamine plant and a formaldehyde plant, both of which will enhance its production capabilities and market reach.
  • 2025: The company sold its Solar Power business on a Slump Sale basis.

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