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Swing Capital

AksharChem (India) Ltd

NSE: AKSHARCHEM BSE: 524598

Incorporated in 1989, Aksharchem (India) Ltd manufactures & exports Dyes Pigments and Precipitated Silica[1]

₹196
52W: ₹141 — ₹331
PE 0 · Book ₹326 · -40% vs book
Market Cap₹157 Cr
Stock P/E—Price to Earnings
ROCE3.46%Return on Capital
ROE1.82%Return on Equity
Div. Yield0.38%Face Value ₹10

Strengths

  • +Stock is trading at 0.60 times its book value
  • +Company's working capital requirements have reduced from 47.4 days to 18.2 days

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of 5.89% over past five years.
  • −Company has a low return on equity of -1.84% over last 3 years.

Shareholding Pattern

Promoters62.7%
FIIs0%
DIIs0.06%
Public37.24%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters62.7%62.7%62.7%62.7%62.7%62.7%62.7%62.7%
FIIs0.39%0.07%▼0.30%▼0.10%0.03%▲0.00.02%▼0.00%▼0.00%
DIIs0.06%0.06%0.06%0.06%0.06%0.06%0.06%0.06%
Public36.87%37.17%▲0.337.24%▲0.137.25%▲0.037.22%▼0.037.22%37.24%▲0.037.24%

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales73.375.2881.7985.9178.9390.6990.7496.9689.380.38
Expenses76.570.3481.3679.6772.9184.3784.4790.5586.9577.45
Operating Profit-3.24.940.436.246.026.326.276.412.352.93
OPM %-4.37%6.56%0.53%7.26%7.63%6.97%6.91%6.61%2.63%3.65%
Net Profit-7.60.33-6.021.151.041.191.390.71-1.37-4.62
EPS ₹-9.460.41-7.491.431.291.481.730.88-1.71-5.75

AI Insights

Revenue Trend

TTM revenue at ₹357Cr, up 3.2% YoY. OPM at 5%.

Debt Position

Borrowings at ₹75Cr. Debt-to-equity ratio: 0.30x. Healthy balance sheet.

Capex Cycle

CWIP at ₹15Cr (6% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.06% (+0.00pp change). FIIs: 0% (-0.68pp change). Promoters hold 62.7%.

Margin & Efficiency

ROCE declining from 85% (Mar 2014) to 3% (Mar 2025). Working capital days: 18.

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