NSE: BODALCHEM · BSE: 524370 · ISIN INE338D01028
Bodal Chemicals Limited stock analysis
Bodal Chemicals Limited ranks #2768 in the TickerSutra evidence-ranked universe with a score of 44/100 and 95% data confidence. The latest captured fundamentals show ROCE of 5.6%, quarterly sales growth of 56.1% and quarterly profit growth of 218.8%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Strong CFO/EBITDA of 1.05×
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹2,055cr | ₹220cr | ₹99cr | 11.0% |
| 2023 | ₹1,574cr | ₹133cr | ₹38cr | 8.0% |
| 2024 | ₹1,395cr | ₹111cr | ₹6cr | 8.0% |
| 2025 | ₹1,748cr | ₹171cr | ₹18cr | 10.0% |
| 2026 | ₹2,012cr | ₹168cr | ₹48cr | 8.0% |
| TTM | ₹2,267cr | ₹183cr | ₹69cr | 8.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Bodal Chemicals Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineBodal Chemicals Ltd - 524370 - Shareholder Meeting / Postal Ballot-Outcome of AGMBSE · 25 Sept 2026Bodal Chemicals Limited herewith submit voting results for Annual General Meeting
RoutineShareholders meetingNSE · 25 Sept 2026Bodal Chemicals Limited has informed the Exchange regarding voting results of Annual General Meeting held on September 25, 2026
RoutineBodal Chemicals Ltd - 524370 - Shareholder Meeting / Postal Ballot-Scrutinizer''s ReportBSE · 25 Sept 2026Bodal Chemicals Limited herewith submit Scrutinizers Report for 40th Annual General Meeting
RoutineShareholders meetingNSE · 25 Sept 2026Bodal Chemicals Limited has informed the Exchange regarding Proceedings of undefined held on September 25, 2026
MANAGEMENT COMMENTARY
Signals from filed documents
INCREASING INTERNATIONAL PRESENCE Expanding the subsidiary network and export corridors, with a particular focus on Southeast Asia, Latin America, and the European specialty chemicals market. STRENGTHENING MARKET LEADERSHIP Reinforcing Bodal’s position as India’s most trusted integrated chemical manufacturer through certification, compliance, innovation, and consistent delivery. platform, multi-decade industry relati
Today, with over 200 products catering to multiple industries and customers across 35+ countries, Bodal continues to strengthen its position as a trusted global partner. A major highlight of the year was accelerating operations for the advanced greenfield facility at Saykha, marking the Company’s entry into benzene downstream products and opening new avenues for value- added growth. This expansion significantly broad
Against this backdrop, Bodal Chemicals delivered steady progress across multiple dimensions, achieving one of its strongest revenue performances to date. This growth was driven by improved demand across key verticals, an optimised product mix, and enhanced operational leverage. Our Dye Intermediates division delivered strong volume and revenue momentum, reaffirming its role as the operational and financial backbone o
RIGOROUS INTEGRATION Deepening the vertical integration model across new product lines to further insulate the business from input cost swings and supply chain disruptions. NEW GREENFIELD EXPANSION Evaluating the next wave of capacity investment in high-margin specialty segments, guided by demand signals from both domestic and international markets. HIGHER FOCUS ON B2C APPROACH Building direct brand presence and end-
A YEAR OF ACCOLADES AND AWARDS Bodal’s vertically integrated model, combined with world-class technology partnerships, a proven ESG infrastructure, and deep customer relationships spanning three decades, positions the Company uniquely to capitalise on India’s growing role in the global chemical value chain. Lower cost of production Capacity rampup Economies of scale New client penetration Superior quality Rigorous in
OUTLOOK The Indian chemical industry’s performance during FY2025- 26 reflects a gradual transition from cyclical weakness toward a more stable growth trajectory. While global commodity chemical markets continue to face oversupply and margin pressure, domestic demand across several downstream sectors has strengthened significantly. Strategic government policies, including the Production Linked Incentive (PLI) scheme,
The market is experiencing growing preference for high- performance, eco-compliant dyes as end-user industries particularly in Europe and North America tighten their environmental sourcing standards. This trend is creating demand for manufacturers who can offer consistent quality, low-VOC formulations, and regulatory compliance alongside competitive pricing. India has emerged as a preferred global sourcing destinatio
Opportunities Impact in the Upcoming Year Rising global demand for specialty chemicals and performance dyes is creating new growth avenues. Companies with differentiated products can benefit from improved realizations and market share gains. Increasing focus on sustainable and eco-friendly products is driving product innovation.
India has emerged as a preferred global sourcing destination for dye intermediates, benefiting from cost competitiveness, raw material access, and an established manufacturing ecosystem in Gujarat. The state of Gujarat accounts for the majority of India’s dyes and intermediates production and continues to strengthen its technological and regulatory infrastructure. Source: MarketsandMarkets; Amaltas Capital Research,
NEW CLIENT PENETRATION Targeted outreach into under- penetrated geographies and industries, with a sharpened focus on high-value, specification-driven customers in regulated markets. ONGOING INTERNAL EFFICIENCIES Continuous improvement across energy consumption, waste recovery, process yields, and overheads translating operational discipline directly into margin expansion. LONG-TERM CUSTOMER RELATIONSHIPS Marquee cli
T he Independent Directors are appointed for a fixed tenure of five (5) years from their respective dates of appointment and are eligible to resign from office at any time during their term. Their appointments have been duly approved by the Members of the Company. Further, The Independent Directors have also affirmed that they fulfil the criteria of independence as prescribed under the provisions of the Act, the appl
Permanently discontinued Vatva legacy units- a modernisation milestone. 2024-26 CONSOLIDATING & VALUE CREATION Saykha’s commercial production contributes to topline. Antidumping duty on TCCA imports from China.
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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