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10 Yrs X-Ray 
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About
20 Microns Ltd (20MICRONS)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533022 NSE: 20MICRONS Mining & Minerals | Small Cap | 20 Microns Share Price
₹208.50 -3.55 (-1.67%)
As on 11-Sep'26 16:59
20 Microns Ltd (20MICRONS)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533022 NSE: 20MICRONS Mining & Minerals | Small Cap | 20 Microns Share Price
₹208.50 -3.55 (-1.67%)
As on 11-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹736 Cr.
Current Price
₹208.5
52-Week Low / High
₹131 / 238
TTM EPS
₹19.2
TTM Sales
₹951 Cr.
Book Value per Share
₹142.2
P/E Ratio
10.86
In line with its 5-year historical median
Industry PE
14
Price to Book (P/B)
1.47
Lower than its 5-year historical median
Price to Sales (P/S)
0.77
In line with its 5-year historical median
EV/EBITDA
6.14
Lower than its 5-year historical median
Dividend Yield
0.6%
Profitability Efficiency
Return on Equity (ROE)
14.60%
Outperforms industry median
Return on Capital Employed (ROCE)
17.83%
Outperforms industry median
Return on Assets (ROA)
8.66%
Operating Profit Margin
12.9%
Net Profit Margin
6.99%
Gross Profit Margin
11.8%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
3.66%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
4.86%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
6.71%
Asset Quality
Promoter Holding
45.04%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹484 Cr.
Equity
₹17.6 Cr.
Face Value
₹5
All Time Low / High
₹6.62 / 346.70
Check Before You Invest
Quality
Very GoodValuation
Somewhat OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is 20 Microns Ltd a good quality company?
20 Microns Ltd is a good quality company, based on a consistently good 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.
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.
How does 20 Microns Ltd performance compare with that of its Peers?
Revenue growth of 20 Microns Ltd vs industry peers?
20 Microns Ltd revenue CAGR is 14.55%, compared to the industry median CAGR of 1.53%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of 20 Microns Ltd?
Promoters hold 45.04% of the 20 Microns Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of 20 Microns Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 18.8% based on the current price.
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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
20 Microns Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 16.9% | 17.4% | 21% | 20.2% | 15.5% | 19.2% | 18.5% | 21.1% | 19.5% | 18.2% | - |
| Value Creation Index ⓘ | 0.2 | 0.3 | 0.5 | 0.4 | 0.1 | 0.4 | 0.3 | 0.5 | 0.4 | 0.3 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 359 | 385 | 436 | 490 | 432 | 517 | 598 | 672 | 795 | 824 | 819 |
| Sales YoY Gr. | - | 7.4% | 13.1% | 12.5% | -11.8% | 19.6% | 15.6% | 12.5% | 18.2% | 3.7% | - |
| Adj EPS ⓘ | 3.8 | 4.8 | 6.2 | 7.1 | 6.5 | 8.7 | 10 | 14.4 | 16.3 | 16.7 | 17.3 |
| YoY Gr. | - | 27.5% | 27.6% | 15.1% | -7.9% | 32.8% | 15.8% | 43.8% | 13.3% | 2.2% | - |
| BVPS (₹) ⓘ | 33.3 | 37.6 | 43.1 | 49.1 | 56.4 | 66.2 | 76.4 | 91.6 | 108 | 122.4 | 127 |
| Adj Net Profit ⓘ | 13.4 | 17 | 21.7 | 25 | 23 | 30.5 | 35.4 | 50.9 | 57.7 | 58.9 | 61 |
| Cash Flow from Ops. ⓘ | 53 | 49.9 | 45.5 | 40.3 | 56.5 | 44.5 | 55.8 | 40.2 | 26.5 | 85.9 | - |
| Debt/CF from Ops. ⓘ | 2.7 | 2.5 | 2.5 | 2.8 | 1.6 | 2.3 | 1.5 | 2.4 | 4.5 | 1.3 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 9.7% | 13.8% | 11.3% | 3.7% | ||||
| Adj EPS ⓘ | 18% | 20.7% | 18.5% | 2.2% | ||||
| BVPSⓘ | 15.6% | 16.8% | 17% | 13.4% | ||||
| Share Price | 19% | 31.1% | 18% | -8% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 13.3 | 13.6 | 15.2 | 15.4 | 12.4 | 14.1 | 14.1 | 17.2 | 16.4 | 14.5 | 13.9 |
| Op. Profit Mgn % ⓘ | 13.6 | 13.6 | 14.2 | 12 | 11.9 | 12.8 | 11.5 | 12.8 | 12.3 | 12.5 | 12.6 |
| Net Profit Mgn % ⓘ | 3.7 | 4.4 | 5 | 5.1 | 5.3 | 5.9 | 5.9 | 7.6 | 7.3 | 7.2 | 7.5 |
| Debt to Equity ⓘ | 1.2 | 1 | 0.7 | 0.6 | 0.4 | 0.5 | 0.3 | 0.3 | 0.3 | 0.3 | - |
| Working Cap Days ⓘ | 163 | 159 | 153 | 145 | 169 | 152 | 139 | 138 | 146 | 152 | 71 |
| Cash Conv. Cycle ⓘ | 52 | 51 | 52 | 52 | 59 | 55 | 55 | 61 | 73 | 86 | 33 |
Valuation of 20 Microns - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 394 | 427 | 480 | 529 | 484 | 613 | 702 | 777 | 913 | 954 |
| Operating Expenses ⓘ + | 339 | 367 | 411 | 463 | 425 | 534 | 616 | 672 | 795 | 831 |
| Operating Profit ⓘ | 55 | 60 | 69 | 66 | 58 | 79 | 86 | 105 | 117 | 123 |
| Operating Profit Margin (%) | 14.1% | 14.0% | 14.4% | 12.5% | 12.1% | 12.9% | 12.2% | 13.5% | 12.9% | 12.9% |
| Other Income ⓘ + | 2 | 2 | 2 | 3 | 3 | 2 | 3 | 5 | 4 | 6 |
| Interest ⓘ | 24 | 22 | 22 | 22 | 25 | 20 | 18 | 17 | 18 | 17 |
| Depreciation ⓘ | 10 | 10 | 10 | 13 | 14 | 14 | 14 | 14 | 18 | 21 |
| Profit Before Tax ⓘ | 23 | 28 | 38 | 35 | 22 | 48 | 57 | 77 | 83 | 91 |
| Tax ⓘ | 7 | 9 | 13 | 10 | -1 | 13 | 15 | 21 | 20 | 24 |
| Profit After Tax | 16 | 19 | 25 | 24 | 23 | 35 | 42 | 56 | 62 | 67 |
| PAT Margin (%) | 4.0% | 4.4% | 5.2% | 4.6% | 4.8% | 5.7% | 6.0% | 7.2% | 6.9% | 7.0% |
| Adjusted EPS (₹) | 4.5 | 5.3 | 7.1 | 6.8 | 6.5 | 9.8 | 11.9 | 15.9 | 17.7 | 18.9 |
| Dividend Payout Ratio (%) | 0% | 14.10% | 0% | 8.80% | 0% | 0% | 6.30% | 7.90% | 7.10% | 6.60% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 125 | 143 | 167 | 188 | 214 | 251 | 294 | 353 | 429 | 484 | |
| Debt + | 139 | 119 | 110 | 104 | 86 | 103 | 86 | 99 | 140 | 109 | |
| Minority Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 5 | 3 | |
| Trade Payables | 53 | 61 | 67 | 88 | 94 | 99 | 79 | 62 | 68 | 61 | |
| Others Liabilities ⓘ | 60 | 73 | 91 | 74 | 74 | 69 | 76 | 106 | 120 | 121 | |
| Total Liabilities ⓘ | 378 | 398 | 435 | 455 | 468 | 524 | 535 | 621 | 762 | 778 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 177 | 185 | 195 | 201 | 203 | 207 | 213 | 212 | 284 | 296 | |
| CWIP ⓘ | 7 | 8 | 4 | 11 | 3 | 5 | 8 | 12 | 9 | 13 | |
| Investments ⓘ | 2 | 3 | 4 | 2 | 6 | 9 | 9 | 17 | 25 | 19 | |
| Inventories | 68 | 72 | 84 | 98 | 101 | 129 | 115 | 113 | 160 | 142 | |
| Trade Receivables | 60 | 66 | 70 | 82 | 90 | 100 | 97 | 126 | 143 | 177 | |
| Cash Equivalents | 10 | 9 | 11 | 8 | 10 | 17 | 30 | 60 | 38 | 82 | |
| Others Assets ⓘ | 54 | 54 | 68 | 53 | 57 | 57 | 62 | 80 | 102 | 49 | |
| Total Assets ⓘ | 378 | 398 | 435 | 455 | 468 | 524 | 535 | 621 | 762 | 778 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 44 | 61 | 53 | 45 | 52 | 35 | 63 | 54 | 32 | 104 |
| Cash Flow From Investing Activity ⓘ + | -9 | -18 | -19 | -16 | -9 | -23 | -18 | -23 | -59 | -31 |
| Cash Flow From Financing Activity ⓘ + | -34 | -44 | -33 | -30 | -45 | -4 | -38 | -3 | 10 | -30 |
| Net Cash Flow ⓘ | 2 | -1 | 2 | -1 | -2 | 9 | 8 | 28 | -17 | 42 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 15.01 | 14.11 | 16.11 | 13.61 | 11.44 | 14.91 | 15.4 | 17.37 | 15.97 | 14.6 |
| ROCE (%) | 17.92 | 18.39 | 21.54 | 18.91 | 15.16 | 19.75 | 19.54 | 21.72 | 19.23 | 17.83 |
| Asset Turnover Ratio | 1.13 | 1.11 | 1.15 | 1.19 | 1.05 | 1.24 | 1.33 | 1.35 | 1.32 | 1.24 |
| PAT to CFO Conversion(x) | 2.75 | 3.21 | 2.12 | 1.88 | 2.26 | 1 | 1.5 | 0.96 | 0.52 | 1.55 |
| Working Capital Days | ||||||||||
| Receivable Days | 51.60 | 53.40 | 51.80 | 52.20 | 64.80 | 56.60 | 51.40 | 52.30 | 53.70 | 61.20 |
| Inventory Days | 61.40 | 59.10 | 59.30 | 62.40 | 74.60 | 68.30 | 63.50 | 53.50 | 54.50 | 57.80 |
| Payable Days | 107 | 105.10 | 102.40 | 100.80 | 130.30 | 110.20 | 88.90 | 61.90 | 48.90 | 46.60 |
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20 Microns Ltd FAQs
The current trading price of 20 Microns on 11-Sep-2026 16:59 is ₹208.5.
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 10-Sep-2026 the market cap of 20 Microns stood at ₹735.7 Cr
The latest P/E ratio of 20 Microns as of 10-Sep-2026 is 12.03.
The latest P/B ratio of 20 Microns as of 10-Sep-2026 is 1.64.
The 52-week high of 20 Microns is ₹238.1 and the 52-week low is ₹130.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of 20 Microns is ₹819 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that 20 Microns Ltd is a good quality company.
The key valuation ratios of 20 Microns Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of 20 Microns Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About 20 Microns Ltd
20 Microns Limited (20ML) is one of India’s leading and fastest-growing micronized industrial minerals and speciality chemical manufacturing companies offering a wide range of innovative products which finds application across different industries such as paints, polymers, paper, plastic, ceramics, rubber, oil well drilling, agrochemicals, and adhesives & sealants, among others.
Incorporated in 1987, the company is India’s largest producer of white minerals. Backed by several mines, state-of-the-art manufacturing facilities and R&D centres, the company’s white minerals help the company cater to a cross section of industry across the globe. With the best manufacturing practices and ultra-modern R&D centers the international business forms one-fourth of the company’s business with a firm presence in many countries across Europe, Africa, Australia, South America and Asia Pacific.
Business area of the company
The company is engaged in Business of Industrial Micronised Minerals and Speciality Chemicals.
Products of the company
Industrial minerals
- Ground Calcium Carbonate
- Dolomite
- Hydrous Kaolin
- Calcined Kaolin
- Talc
- Natural Barytes
- Silica / Quartz
- Muscovite Mica
- Feldspar / Nepheline Syenite
- Diatomaceous & Siliceous Earth
- Bentonite & Attapulgite
- Natural Red Oxide
- Synthetic Red Oxide
Functional additives
- White / Buff & Colored
- Rutile TiO2
- White Pigment Opacifier
- Synthetic Barium Sulphate
- Micronized Wax
- Erueca Mide, Olea Mide & Processing Aid
- Anti-blocking Additives
- Matting Agents
- Rheological Additives
- Inorganic thickeners
- Flame Retardants
- Calcium Oxide Desiccant
- Activators for Rubber
- High Aspect Ratio Talc
- Sub-Micron CaCO3
- Fumed, Precipitated & Amorphous Silica
- Decorative Colored Quartz Sand
History and milestones
- 1987: 20ML started its journey with the commencement of commercial production at its Waghodia facility.
- 1990 - 1995: Strengthened its market position with the implementation of quality management systems.
- 1990 - 1995: Boosted production capabilities by expanding production capacity
- 1990 - 1995: Bolstered manufacturing capabilities with the commencement of second manufacturing unit at Vadadala.
- 1996 - 2000: Bolstered manufacturing with the commencement of new facility at Hosur (South India).
- 1996 - 2000: Enhanced its portfolio by diversifying into manufacturing of Kaolin at Bhuj.
- 2001 - 2005: Further enhanced manufacturing capabilities by setting up two new manufacturing facilities at Alwar and Tirunelveli.
- 2006 - 2010: Grew its international presence by establishing new territories and sales channels in some of the key markets such as the European, North American and Latin American continents.
- 2006 - 2010: Marked its international manufacturing presence by setting up an operation in Malaysia for Calcium Carbonate.
- 2011 - 2015: To strengthen its presence across industries and to further strengthen its product portfolio, it established its state-of-the-art R&D Centre at Waghodia, Vadodara. The company’s R&D facility is being recognized and approved by DSIR, Government of India.
- 2016 - 2020: Enhanced portfolio by initiating the manufacture of functional additives.
- 2016 - 2020: Expanded Malaysia operations for Calcium Carbonate.
- 2016 - 2020: Boosted its manufacturing capabilities by forming a subsidiary 20Microns JSC in Vietnam focused towards the manufacturing of CaCO3.
- 2016 - 2020: Inked a deal with Dorfner GmBH Germany as the exclusive distributor of Hydrous Kaolin across Europe.
- 2021: Timely met the debt repayment obligations of its bankers despite a challenging business environment.
- 2021: Enhanced its credit rating from “BBB-” to “BBB”.
- 2021: Entered into JV agreement with Dorfner to further strengthen 20ML’s international presence.
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