NSE: NGLFINE · BSE: 524774 · ISIN INE887E01022
NGL Fine-Chem Limited stock analysis
NGL Fine-Chem Limited ranks #1286 in the TickerSutra evidence-ranked universe with a score of 54/100 and 95% data confidence. The latest captured fundamentals show ROCE of 16.7%, quarterly sales growth of 35.5% and quarterly profit growth of 115.3%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- 21.2% three-year sales CAGR
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- CFO/EBITDA is below 0.6×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹319cr | ₹66cr | ₹52cr | 21.0% |
| 2023 | ₹275cr | ₹29cr | ₹20cr | 10.0% |
| 2024 | ₹329cr | ₹45cr | ₹39cr | 14.0% |
| 2025 | ₹359cr | ₹27cr | ₹18cr | 7.0% |
| 2026 | ₹489cr | ₹68cr | ₹42cr | 14.0% |
| TTM | ₹525cr | ₹71cr | ₹50cr | 14.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
NGL Fine-Chem Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
Negative CatalystNGL Fine Chem Ltd - 524774 - Disclosure Under Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI LODR Regulations') - Show Cause Notice Received From The GST DepartmentBSE · 25 Sept 2026Disclosure of Show Cause Notice received from the GST Department
RoutineNGL Fine Chem Ltd - 524774 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationBSE · 10 Sept 2026This is to inform you that a One to One meet has been scheduled on Wednesday, September 16, 2026 with Analyst/Investor.
MANAGEMENT COMMENTARY
Signals from filed documents
We are entering FY27 with good operational momentum, expanded Phase I capacity already in service, a nd Phase II progressing toward commissioning. With partial price pass -through already achieved and volume traction continuing, we are confident of building on this performance in the coming quarters. With that, I will now be happy to take your questions.
Along with the continued volume momentum, this should support margin improvement going forward. NGL Fine-Chem Limited May 25, 2026 Page 4 of 18 On the capacity expansion front: Phase I of our ongoing expansion programme is now contributing meaningfully to operations. The higher volumes during the quarter were comfortably absorbed within this expanded capacity, which reflects our readiness for further growth.
But we really were clueless about that. But we can see that price increases have started coming in from China also, which is a big relief to us. And as I said, going forward, we expect to reach EBITDA level of between 15% and 18%.
We have not seen them much in the market for this. But there are a lot of Chinese companies manufacturing and price erosion has already taken place. So, it is more or less settled down at a, I think, at a long- term price.
500 NGL Fine-Chem Limited May 25, 2026 Page 10 of 18 crores in FY’26 through outsourcing. So, post the new plant commissioning, what is the new peak revenue potential at pre -utilization? Rahul Nachane: We have indicated earlier that with the new plant we should be able to generate a turnover of between Rs.
Our customer and product concentration remains well diversified, with the top 10 customers accounting for 29% of sales and the top 10 products contributing 66% of sales. To summarise: FY26 has been a year of clear recovery, marked by strong volume -led growth, healthy margin expansion, and steady progress on our capacity expansion plans. We are entering FY27 with good operational momentum, expanded Phase I capacity a
So, we go to the queue, then based on availability from the USFDA team, the audit will get triggered. So, this can happen in the current year or probably next year also because it depends entirely on the regulator. So, there is no control that we have over the same.
So that is what gives us the confidence. NGL Fine-Chem Limited May 25, 2026 Page 18 of 18 Ankit: So, this margin range, we expect to start from Q1 only and things will start to stay in this range, is what I am understanding. Rahul Nachane: I would expect it to start from Q2 onwards.
So, I understand some part of it will be related to FX. Is there some additional cost due to also the new plant or some product registrations which has come in which is kind of a one-off and not a regular expense? Rahul Nachane: Mainly mark-to-market provisioning on FOREX and investments.
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
DIRECTOR & BUSINESS NETWORK
Loading corporate intelligence
Loading universe coverage and exchange-backed evidence…