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Swing Capital

Bodal Chemicals Ltd

NSE: BODALCHEM BSE: 524370Chemicals

Bodal Chemicals Limited is one of India’s leading integrated Dyestuff companies and is the largest domestic manufacturer of Dye Intermediates. It offers a wide range of Dyestuffs, Dye Intermediates, Basic Chemicals, and its variants to diverse customers across India and the world. [1]

₹69.2
52W: ₹41.2 — ₹81.5
PE 32.2 · Book ₹92.6 · -25% vs book
Market Cap₹872 Cr
Stock P/E32.2Price to Earnings
ROCE5.26%Return on Capital
ROE1.78%Return on Equity
Div. Yield0%Face Value ₹2

Strengths

  • +Stock is trading at 0.73 times its book value
  • +Company's working capital requirements have reduced from 23.8 days to 15.8 days

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of 7.09% over past five years.
  • −Company has a low return on equity of 1.54% over last 3 years.
  • −Dividend payout has been low at 1.35% of profits over last 3 years

Shareholding Pattern

Promoters57%
FIIs0.15%
DIIs0%
Public42.84%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters57.39%57.32%▼0.157.32%57.32%57.32%57%▼0.357%57%
FIIs0.19%0.67%▲0.50.32%▼0.40.32%0.81%▲0.50.29%▼0.50.32%▲0.00.15%▼0.2
DIIs0.01%0.01%0%▼0.00%0%0%0%0%
Public42.41%42%▼0.442.36%▲0.442.35%▼0.041.87%▼0.542.7%▲0.842.68%▼0.042.84%▲0.2

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales327.7337.47395.52420.2422.72434.81445.53444.85471.96480.73
Expenses305.35313.8357.26382.65390.25388.51395.75395.13448.63455.62
Operating Profit22.3523.6738.2637.5532.4746.349.7849.7223.3325.11
OPM %6.82%7.01%9.67%8.94%7.68%10.65%11.17%11.18%4.94%5.22%
Net Profit1.030.724.911.140.597.2710.5810.344.21.98
EPS ₹0.080.060.390.090.050.580.840.820.330.16

AI Insights

Revenue Trend

TTM revenue at ₹1,843Cr, up 7% YoY. OPM at 8%.

Debt Position

Borrowings at ₹866Cr. Debt-to-equity ratio: 0.76x. Moderate leverage.

Capex Cycle

CWIP at ₹61Cr (5% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0% (-0.01pp change). FIIs: 0.15% (-2.22pp change). Promoters hold 57%.

Margin & Efficiency

ROCE declining from 39% (Mar 2014) to 5% (Mar 2025). Working capital days: 16.

Valuation

PE 32.2x with 5.26% ROCE. Price is -25% above book value of ₹92.6. Dividend yield: 0%.

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