Indo Borax & Chemicals Ltd.

BSE: INDOBORAX524342ISIN INE803D01021

Commodities
Commodity Chemicals
BSE Commodities

Share price

₹436.40+2.80 (+0.65%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹543.00
52W low: ₹233.00
Off 52W high: -19.63%
1M return: -5.43%
3M return: +5.90%
6M return: +59.77%
1Y return: +71.47%
20D avg volume: 19,942
50 DMA: ₹468.55
200 DMA: ₹353.65

Key ratios Consolidated

Market cap: ₹1,400 Cr
Current price: ₹436.40
52W high / low: ₹543.00 / ₹233.00
Face value: ₹1.00
P/E: 24.87
P/B: 3.62
EPS (TTM): ₹17.55
Book value / share: ₹120.47
ROE: —
ROCE: 17.10%
Operating margin: —
Net margin: —
Debt / equity: 0.00
Net debt: ₹-13.61 Cr
Interest cover: 951.29
Dividend yield: 9.17%
Dividend / share (TTM): ₹40.00
Payout: 227.92%
Cash conversion cycle: 66.2 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	70.36	63.01	41.02	57.85	53.57	50.12	37.51	37.88	49.76	45.47	44.06	46.80
	2.56	4.52	4.33	3.57	3.02	3.75	4.24	4.35	3.25	3.36	2.74	2.69
	72.91	67.53	45.35	61.42	56.59	53.87	41.75	42.22	53.01	48.83	46.80	49.49
	50.91	50.89	33.20	48.21	42.21	41.09	28.06	29.24	33.81	34.49	35.45	37.20
	35.18	36.17	20.10	30.39	27.67	26.33	17.26	16.13	22.11	22.25	23.79	25.49
	0.00	0.00	0.64	2.13	0.00	0.00	0.06	0.10	—	—	—	—
	5.12	7.31	2.89	4.21	3.39	3.82	3.41	3.17	3.90	3.18	2.86	2.88
	0.05	0.07	0.00	0.00	0.00	0.17	0.00	0.00	0.00	0.00	0.00	0.00
	0.31	0.63	0.81	0.86	0.86	1.00	0.62	0.52	0.50	0.59	0.57	0.57
	10.46	10.12	8.82	10.20	10.82	9.07	6.82	8.82	8.45	8.61	8.04	8.19
	22.00	16.64	12.15	13.21	14.37	12.78	13.69	12.98	19.21	14.34	11.35	12.29
	0.00	0.80	0.00	9.35	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	22.00	17.44	12.15	22.55	14.37	12.78	13.69	12.98	19.21	14.34	11.35	12.29
	5.75	2.91	2.88	6.29	4.17	2.54	4.62	3.80	5.19	2.90	3.12	3.36
	16.25	14.53	9.27	16.26	10.20	10.24	9.07	9.18	14.01	11.44	8.23	8.93
	5.07	4.53	2.89	5.07	3.18	3.14	2.83	2.86	4.37	3.57	2.56	2.78
Key metrics
	22.36	18.14	12.96	23.41	15.23	13.95	14.31	13.50	19.71	14.93	11.92	12.86
	31.80%	28.80%	31.60%	40.50%	28.40%	27.80%	38.10%	35.60%	39.60%	32.80%	27.10%	27.50%
	23.10%	23.10%	22.60%	28.10%	19.00%	20.40%	24.20%	24.20%	28.20%	25.20%	18.70%	19.10%
	—	4.50%	—	6.20%	—	3.80%	—	—	—	—	—	—
	31.30%	25.70%	9.40%	52.70%	7.70%	10.20%	-14.90%	-19.10%	—	—	—	—
	59.30%	41.90%	2.20%	77.10%	-27.20%	-10.50%	10.20%	2.80%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	232.24	215.45	175.26	191.30	225.08	175.72
	14.98	15.44	15.59	11.78	7.18	3.21
	247.21	230.89	190.85	203.08	232.25	178.93
	183.21	174.52	132.19	150.84	164.79	128.95
	121.84	114.33	81.83	101.96	98.72	76.74
	2.77	2.77	0.15	—	—	0.07
	19.53	17.80	14.30	11.89	13.55	11.50
	0.12	0.07	0.18	0.01	0.09	0.01
	2.61	3.16	2.64	2.28	1.56	1.04
	39.60	39.95	33.15	34.28	41.33	39.57
	64.00	56.37	58.66	52.23	67.46	49.99
	10.15	10.15	0.00	0.00	1.49	0.00
	74.14	66.52	58.66	52.23	68.95	49.99
	17.83	16.25	16.16	13.26	18.26	13.61
	56.31	50.27	42.51	38.98	50.69	36.37
	17.56	15.67	13.25	12.15	15.80	11.33
Key metrics
	76.87	69.75	61.48	54.52	70.60	51.04
	33.10%	32.40%	35.10%	28.50%	31.40%	29.00%
	24.25%	23.30%	24.30%	20.40%	22.50%	20.70%
	—	17.10%	17.40%	—	—	—
	29.69%	22.90%	-8.40%	-15.00%	28.10%	—
	45.54%	18.30%	9.10%	-23.10%	39.40%	—
	—	86.86	-78.72	—	—	—
	—	1.73	-1.69	—	—	—
	—	0.00	0.00	—	—	—
	—	-13.61	-39.12	—	—	—
	—	66.2	119.6	—	—	—
Balance sheet
	—	404.87	356.69	—	—	—
	—	324.46	155.78	—	—	—
	—	13.61	39.12	—	—	—
	—	10.38	15.79	—	—	—
	—	31.83	47.07	—	—	—
	—	11.47	0.00	—	—	—
	—	7.71	21.11	—	—	—
	—	3.10	5.43	—	—	—
	—	15.56	17.78	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	386.58	335.43	—	—	—
Cash flow
	—	87.15	-71.99	—	—	—
	—	-76.69	-6.91	—	—	—
	—	-3.49	-3.39	—	—	—
	—	0.29	6.73	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	70.36	63.01	41.02	57.85	53.57	50.12	37.51	37.88	49.76	45.47	44.06	46.80
	2.56	4.48	4.11	3.34	2.79	3.53	4.04	4.14	3.05	3.16	2.54	2.50
	72.91	67.49	45.14	61.19	56.36	53.64	41.55	42.01	52.81	48.63	46.60	49.30
	50.91	50.89	33.20	48.21	42.21	41.09	28.06	29.24	33.81	34.49	35.45	37.20
	35.18	36.17	20.10	30.39	27.67	26.33	17.26	16.13	22.10	22.26	23.79	25.49
	0.00	0.00	0.64	2.13	0.00	0.00	0.06	0.10	—	—	—	—
	5.12	7.31	2.89	4.21	3.39	3.82	3.41	3.17	3.90	3.18	2.86	2.88
	0.05	0.06	0.00	0.00	0.00	0.17	0.00	0.00	0.00	0.00	0.00	0.00
	0.31	0.63	0.81	0.86	0.86	1.00	0.62	0.52	0.50	0.59	0.57	0.57
	10.45	10.12	8.82	10.19	10.81	9.07	6.81	8.81	8.45	8.61	8.03	8.18
	22.00	16.60	11.93	12.98	14.15	12.56	13.49	12.78	19.00	14.14	11.15	12.10
	0.00	0.80	0.00	9.35	0.00	0.00	—	—	—	—	—	—
	22.00	17.40	11.93	22.33	14.15	12.56	13.49	12.78	19.00	14.14	11.15	12.10
	5.75	2.90	2.82	6.24	4.11	2.48	4.57	3.75	5.14	2.85	3.07	3.31
	16.25	14.50	9.11	16.09	10.04	10.07	8.92	9.03	13.86	11.29	8.08	8.79
	5.07	4.52	2.84	5.01	3.13	3.14	2.78	2.81	4.32	3.52	2.52	2.74
Key metrics
	22.36	18.09	12.74	23.19	15.01	13.73	14.11	13.30	19.50	14.73	11.72	12.67
	31.80%	28.70%	31.10%	40.10%	28.00%	27.40%	37.60%	35.10%	39.20%	32.40%	26.60%	27.10%
	23.10%	23.00%	22.20%	27.80%	18.70%	20.10%	23.80%	23.80%	27.90%	24.80%	18.30%	18.80%
	—	4.50%	—	6.20%	—	3.80%	—	—	—	—	—	—
	31.30%	25.70%	9.40%	52.70%	7.70%	10.20%	-14.90%	-19.10%	—	—	—	—
	61.90%	44.00%	2.10%	78.20%	-27.60%	-10.80%	10.40%	2.70%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	232.24	215.45	175.26	191.30	214.97	175.42
	14.49	14.72	14.75	11.01	6.79	3.18
	246.73	230.18	190.01	202.32	221.76	178.60
	183.21	174.51	132.18	150.84	154.70	128.71
	121.84	114.33	81.83	101.96	98.72	76.74
	2.77	2.77	0.15	—	—	—
	19.53	17.80	14.30	11.89	13.55	11.50
	0.11	0.07	0.18	0.01	0.09	0.01
	2.61	3.16	2.64	2.28	1.56	1.04
	39.58	39.94	33.14	34.27	41.21	39.34
	63.51	55.66	57.83	51.48	67.06	49.89
	10.15	10.15	0.00	—	1.49	—
	73.66	65.81	57.83	51.48	68.55	49.89
	17.71	16.07	15.95	13.07	18.15	13.59
	55.95	49.74	41.88	38.41	50.39	36.30
	17.44	15.50	13.05	11.97	15.70	11.31
Key metrics
	76.38	69.04	60.65	53.77	70.20	50.94
	32.89%	32.00%	34.60%	28.10%	32.70%	29.00%
	24.09%	23.10%	23.90%	20.10%	23.40%	20.70%
	—	17.00%	17.20%	—	—	—
	29.69%	22.90%	-8.40%	-11.00%	22.50%	—
	47.00%	18.80%	9.00%	-23.80%	38.80%	—
	—	75.44	-67.67	—	—	—
	—	1.52	-1.46	—	—	—
	—	0.00	0.00	—	—	—
	—	-13.53	-38.51	—	—	—
	—	66.2	119.6	—	—	—
Balance sheet
	—	402.84	355.25	—	—	—
	—	312.03	155.16	—	—	—
	—	13.53	38.51	—	—	—
	—	10.38	15.79	—	—	—
	—	31.83	47.07	—	—	—
	—	11.45	0.00	—	—	—
	—	7.71	21.11	—	—	—
	—	3.10	5.42	—	—	—
	—	15.56	17.77	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	384.55	334.00	—	—	—
Cash flow
	—	75.73	-60.94	—	—	—
	—	-65.12	-7.75	—	—	—
	—	-3.49	-3.39	—	—	—
	—	0.29	6.73	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +0.07%
Sales CAGR 5Y: —
Profit CAGR 3Y: -0.43%
Profit CAGR 5Y: —
Sales YoY (TTM): +29.69%
Profit YoY (TTM): +47.00%

Consolidated

Sales CAGR 3Y: -1.45%
Sales CAGR 5Y: —
Profit CAGR 3Y: -0.28%
Profit CAGR 5Y: —
Sales YoY (TTM): +29.69%
Profit YoY (TTM): +45.54%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 38.41%

Quarter	September 2026	June 2026
Promoter %	38.41%	38.41%

Holder	Type	Holding	Previous	Change
ZENROCK CHEMICALS PRIVATE LIMITED	Promoter	38.41%	38.41%	0.00%
INVESTOR EDUCATION AND PROTECTION FUND AUTHORITY MINISTRY OF CORPORATE AFFAIRS	Public	7.77%	7.80%	-0.03%
ISAF III ONSHORE FUND	Public	7.56%	—	—
INDIA SPECIAL ASSETS FUND III	Public	7.44%	—	—
SPECIAL SITUATION INDIA FUND	Public	5.00%	—	—
DIPAK KANAYALAL SHAH	Public	1.17%	1.16%	+0.01%
RADHIKA MALHOTRA	Promoter Group	0.00%	0.00%	0.00%
SUNIL MALHOTRA	Promoter	0.00%	0.00%	0.00%
HARSH MALHOTRA	Promoter Group	0.00%	0.00%	0.00%
MADHU KAPOOR	Promoter Group	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
SRF Ltd.	72,390	2,442.10	31.71	14.60%	+19.67% TTM	+41.11% TTM	-16.95%
Tata Chemicals Ltd	15,364	603.10	-7.80	-3.20%	+2.04% TTM	-484.21% TTM	-32.42%
Deepak Fertilizers &Petrochemicals	14,420	1,142.30	14.64	11.30%	+13.63% TTM	-0.40% TTM	-24.04%
TANFAC Industries Ltd. S	7,565	3,496.70	108.86	25.40%	+12.84% TTM	-26.13% TTM	+83.56%
Gujarat Narmada Valley Fert.Co.Ltd	6,919	470.85	6.58	10.40%	+22.49% TTM	+65.41% TTM	-5.09%
Gujarat Alkalis & Chemicals Ltd.	4,180	569.25	63.01	1.60%	+7.07% TTM	+293.05% TTM	+0.93%
GHCL Ltd.	3,750	407.00	7.94	16.90%	-3.75% TTM	-24.30% TTM	-33.98%
Grauer & Weil (India) Ltd.	3,386	74.67	21.79	19.40%	+9.54% TTM	+2.85% TTM	-10.83%
J.G.Chemicals Limited	2,248	573.65	24.61	17.00%	+38.97% TTM	+40.27% TTM	+34.08%
IG Petrochemicals Ltd	1,801	584.85	22.06	3.10%	-0.88% TTM	+34.56% TTM	+42.72%
Thirumalai Chemicals Ltd.	1,511	125.35	-9.97	-3.30%	-5.80% TTM	-36.41% TTM	-55.44%
INNOVASSYNTH TECHNOLOGIES (INDIA) LIMITED	1,438	154.85	—	-1.80%	—	+25.35% TTM	—
Indo Borax & Chemicals Ltd.	1,400	436.40	24.87	17.10%	+29.69% TTM	+45.54% TTM	+71.47%
Citurgia Biochemicals Ltd. S	1,353	102.45	—	-77.10%	—	—	—
TGV SRAAC LIMITED S	1,257	117.35	9.07	12.60%	+7.60% TTM	+18.27% TTM	-1.10%
The Andhra Sugars Ltd.	1,166	86.06	—	6.40%	—	—	+12.01%
Vikram Thermo (India) Ltd. S	1,068	340.55	23.04	32.50%	+23.54% TTM	+39.73% TTM	+90.62%
Sree Rayalaseema Hi-Strength Hypo Limited	847	493.65	9.23	11.60%	+7.42% TTM	+0.61% TTM	-10.44%
Amines & Plasticizers Ltd	823	149.50	21.33	17.50%	-12.40% TTM	-3.04% TTM	-30.32%
OCCL Limited S	805	161.15	10.76	12.70%	+40.17% TTM	+116.24% TTM	+41.92%
Sadhana Nitrochem Ltd.	710	2.34	-12.25	-11.90%	-24.31% TTM	-176.17% TTM	—
Transpek Industry Ltd.	697	1,248.00	17.88	7.90%	-5.24% TTM	-29.13% TTM	-12.86%
TUTICORIN ALKALI CHEMICALS AND FERTILIZERS LIMITED S	588	48.25	20.98	14.70%	+17.80% TTM	-11.18% TTM	-30.13%
Primo Chemicals Limited	514	21.19	45.05	7.10%	-2.75% TTM	+12.65% TTM	-8.03%
Blue Pearl Agriventures Limited S	446	7.40	370.00	2.20%	+2.83% TTM	+82.76% TTM	-91.07%

Filings & corporate actions

Recent announcements

Disclosure under Regulation 30 of the SEBI ( Listing Obligations and Disclosure Requirements) Regulations, 2015 - Updation regarding Creation of pledge over equity shares held in Kronox ....3 Nov 2026 · Company Update / General
Indo Borax & Chemicals Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 06/11/2026 ,inter alia, to consider and approve the Unaudited Financial ....30 Oct 2026 · Board Meeting / Board Meeting
Disclosure under regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015-Amendment of the Share Purchase Agreement22 Oct 2026 · Company Update / General
Intimation under Regulation 30 of the SEBI ( Listing Obligations and Disclosure Requirements) Regulations, 2015 - Creation of pledge over equity shares held in Kronox Lab Sciences Limited, ....19 Oct 2026 · Company Update / General
Newspaper publication of Notice of Postal Ballot & remote e-voting13 Oct 2026 · Company Update / Newspaper Publication
Notice of Postal Ballot12 Oct 2026 · AGM/EGM / Postal Ballot
Certificate under Regulations 74(5) of SEBI (DP) Regulations, 201810 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Pursuant to regulation 30 of the SEBI (LODR) please find attached press release dated 1st October, 20261 Oct 2026 · Company Update / Press Release / Media Release
Completion of the acquisition of 64.26% of the share capital of Kronox Lab Sciences Limited.29 Sep 2026 · Company Update / Acquisition
Intimation of closure of Trading Window28 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Availed funding from a lending institution for the purpose of financing the acquisition of equity shares of Kronox Lab Sciences Limited.24 Sep 2026 · Company Update / General
Intimation of Analyst/Institutional Investor Meet/Conference23 Sep 2026 · Company Update / Analyst / Investor Meet
Pursuant to the regulation 44 of the SEBI (LODR) Regulations, 2015, please find herewith the details regarding voting results of the business transacted through postal ballot by way of ....11 Sep 2026 · AGM/EGM / Postal Ballot
Transcript of the Investor/Analyst Earnings Call held on Wednesday, September 02, 2026.8 Sep 2026 · Company Update / Earnings Call Transcript
Intimation of audio recording of Analysts/Institutional Investors/Organisations meet - ''''Earnings Call''''.2 Sep 2026 · Company Update / Analyst / Investor Meet
Investor Presentation for the quarter ended June 30, 2026.1 Sep 2026 · Company Update / Investor Presentation
Intimation on revision in Credit rating as per Regulation 30 read with Part A of Schedule III to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.31 Aug 2026 · Company Update / Credit Rating
Intimation regarding Corporate Office address and maintenance of the Books of Account and relevant books and papers of the Company at the Corporate Office address of the Company.31 Aug 2026 · Company Update / General
Earnings call with the Analysts/Investors on the Un-Audited (Standalone and Consolidated) Financial Results of the Company for the quarter ended June 30, 2026.27 Aug 2026 · Company Update / Analyst / Investor Meet
Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Press Release ....20 Aug 2026 · Company Update / Press Release / Media Release
Acquisition and Open Offer20 Aug 2026 · Company Update / Acquisition
For Acquisition and Open Offer.20 Aug 2026 · Others / Outcome without intimation
Newspaper Advertisement regarding Notice of Postal Ballot and e-voting.12 Aug 2026 · Company Update / Newspaper Publication
Notice of Postal Ballot11 Aug 2026 · AGM/EGM / Postal Ballot
Submission of Newspaper Publication of Un-audited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 202611 Aug 2026 · Company Update / Newspaper Publication
Press Release-Un-audited Financial Results for the quarter ended June 30, 202610 Aug 2026 · Company Update / Press Release / Media Release
Unaudited Financial Results for the quarter ended June 30, 2026.10 Aug 2026 · Result / Financial Results
Outcome of Board Meeting held today i.e. August 10, 2026.10 Aug 2026 · Board Meeting / Outcome of Board Meeting
Indo Borax & Chemicals Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 10/08/2026 ,inter alia, to consider and approve Indo Borax & Chemicals ....4 Aug 2026 · Board Meeting / Board Meeting
Scrutinizer''s Report - Annual General Meeting29 Jul 2026 · AGM/EGM / AGM
Proceedings of 45th AGM held on Tuesday, July 28, 2026.28 Jul 2026 · AGM/EGM / AGM
Credit Ratings received from India Ratings and Research Private Limited23 Jul 2026 · Company Update / Credit Rating
Change in Registered Office address21 Jul 2026 · Company Update / General
The Board of Directors of Indo Borax & Chemicals Limited ("Company") at its Meeting held today has considered and approved the Scheme of Amalgamation of IndoBorax Infrastructure Private ....21 Jul 2026 · Company Update / Scheme of Arrangement
Outcome of meeting of the Board of Directors of the Company held today i.e. Tuesday, 21st July, 202621 Jul 2026 · Others / Outcome without intimation
Communication to Shareholders- Intimation on Tax Deduction on Dividend13 Jul 2026 · Company Update / General
Certificate under regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th June, 202610 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Disclosure under regulation 30 of SEBI(LODR) Regulations, 2015 we are enclosing herewith the copies of newspaper advertisement published in today''s publication of Free Press Journal and ....3 Jul 2026 · Company Update / Newspaper Publication
Physical Letter containing weblink of Annual Report for the financial year 2025-26 to the shareholders of the Company whose e-mail address are not registered.2 Jul 2026 · Company Update / General
Intimation of Book Closure2 Jul 2026 · Corp. Action / Book Closure

Corporate actions

Purpose	Ex date	Record date	Payment date
Special Dividend - Rs. - 30.0000	21 Jul 2026	21 Jul 2026	—
Final Dividend - Rs. - 10.0000	21 Jul 2026	21 Jul 2026	—
Final Dividend - Rs. - 1.0000	18 Sep 2025	18 Sep 2025	—
Final Dividend - Rs. - 1.0000	20 Aug 2024	20 Aug 2024	—

Board meetings

6 Nov 2026 Board Meeting - Financial Results
10 Aug 2026 Board Meeting - Financial Results