---
title: "Mehul Colours Ltd (544472) — Share Price, Financials & Analysis"
symbol: "544472"
company: "Mehul Colours Ltd"
canonical: "https://tapetide.com/stocks/544472"
isin: "INE1KH601014"
nse_symbol: "MEHULCOLOURSLTD"
bse_code: "544472"
sector: "Chemicals"
industry: "Specialty Chemicals"
market_cap_cr: 54.2
generated_at: "2026-09-13T19:08:58.423Z"
---

# Mehul Colours Ltd (544472)

Canonical page: https://tapetide.com/stocks/544472

## Company

- **NSE Symbol:** MEHULCOLOURSLTD
- **BSE Code:** 544472
- **ISIN:** INE1KH601014
- **Sector:** Chemicals
- **Industry:** Specialty Chemicals
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2025-08-06
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** mehulcolours.com

## About

Incorporated in 1995, Mehul Colours Ltd manufactures Colour Masterbatches, 
and pigments.[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:40:00.338020Z.

- **Market Cap:** ₹54.2 Cr
- **Classification:** SME
- **P/E (reported):** 10.4
- **Book Value:** ₹39.12
- **Price to Book:** 1.31
- **Dividend Yield:** 0%
- **ROE:** 32.26%
- **ROCE:** 42.7%
- **Debt to Equity:** 0.05
- **Revenue (yearly):** ₹30.4 Cr
- **Net Income:** ₹5.19 Cr
- **EBITDA:** ₹6.03 Cr
- **52-Week High:** ₹92.5
- **52-Week Low:** ₹48
- **RSI (14):** 14.84

## Key Insights

### Strengths

- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.0%
- Promoter holding has increased by 2.30% over last quarter.

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Working capital days have increased from 108 days to 160 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -8.61% | -59.28% | -70.11% |
| ebitda margin growth | -42.23% | -8.49% | 72.36% |
| net income growth | -5.64% | 21% | 270.71% |
| revenue growth | 28.27% | 13% | 8.31% |
| roce | 15.81% | -10.89% | 40.6% |
| roe | 15.83% | 31.76% | -8.27% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Sales | 10.81 | 12.01 | 14.21 | 16.19 |
| Expenses | 7.65 | 8.27 | 9.98 | 14.39 |
| Operating Profit | 3.16 | 3.74 | 4.23 | 1.8 |
| OPM % | 29.23 | 31.14 | 29.77 | 11.12 |
| Other Income | 0.44 | 0.45 | 0.38 | 1.03 |
| Interest | 0.02 | 0.01 | 0.01 | 0.01 |
| Depreciation | 0.17 | 0.18 | 0.16 | 0.23 |
| Profit before tax | 3.41 | 4 | 4.44 | 2.59 |
| Tax % | 24.93 | 26.25 | 25.9 | 25.48 |
| Net Profit | 2.56 | 2.95 | 3.29 | 1.93 |
| EPS in Rs | — | 3.91 | 3.12 | 1.83 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 20.26 | 21.18 | 21.94 | 22.82 | 30.4 |
| Expenses | 18.13 | 16.95 | 17.87 | 15.83 | 24.37 |
| Operating Profit | 2.13 | 4.23 | 4.07 | 6.99 | 6.03 |
| OPM % | 10.51 | 19.97 | 18.55 | 30.63 | 19.84 |
| Other Income | 0.11 | 0.16 | 0.66 | 0.81 | 1.41 |
| Interest | 0.06 | 0.06 | 0.06 | 0.05 | 0.02 |
| Depreciation | 0.24 | 0.23 | 0.32 | 0.35 | 0.38 |
| Profit before tax | 1.94 | 4.1 | 4.35 | 7.4 | 7.04 |
| Tax % | 25.26 | 28.29 | 25.98 | 25.68 | 25.71 |
| Net Profit | 1.45 | 2.94 | 3.22 | 5.5 | 5.22 |
| EPS in Rs | — | — | — | 7.29 | 4.95 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.29 | 0.29 | 0.29 | 7.54 | 10.55 |
| Reserves | 5.13 | 8.07 | 11.27 | 9.52 | 30.72 |
| Borrowings | 0.37 | 0 | 0.36 | 0 | 1.97 |
| Other Liabilities | 3.74 | 2.78 | 1.95 | 1.9 | 1.97 |
| Total Liabilities | 9.53 | 11.14 | 13.87 | 18.96 | 45.21 |
| Fixed Assets | 0.82 | 0.93 | 1.31 | 2.03 | 3.95 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 3.09 | 4.43 | 6.39 | 12.47 |
| Other Assets | 8.71 | 7.12 | 8.13 | 10.54 | 28.79 |
| Total Assets | 9.53 | 11.14 | 13.87 | 18.96 | 45.21 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.07 | 4.69 | 2.09 | 1.91 | -0.17 |
| Cash from Investing Activity | -0.07 | -3.29 | -1.42 | -2.3 | -7.72 |
| Cash from Financing Activity | 0.02 | -0.41 | 0.33 | -0.39 | 20.93 |
| Net Cash Flow | 0.02 | 0.99 | 1.01 | -0.78 | 13.04 |
| Free Cash Flow | -0.02 | 4.34 | 1.52 | 0.92 | -2.37 |
| CFO/OP | 31 | 135 | 82 | 54 | 21 |

### Ratios

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | 122.33 | 66.86 | 56.4 | 88.77 | 95.57 |
| Inventory Days | 27.85 | 47.41 | 54.6 | 76.61 | 48.78 |
| Days Payable | 59.95 | 44.16 | 25.52 | 11.42 | 11.88 |
| Cash Conversion Cycle | 90.23 | 70.11 | 85.48 | 153.96 | 132.47 |
| Working Capital Days | 79.45 | 53.08 | 59.56 | 105.57 | 160.29 |
| ROCE % | — | 59.22 | 42.8 | 51.28 | 23.42 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Promoters | 100% | 69.24% | 69.3% | 71.61% |
| FIIs | 0% | 2.31% | 2.03% | 1.85% |
| DIIs | 0% | 12.87% | 8.88% | 7.83% |
| Government | 0% | 0% | 0% | 0% |
| Public | 0% | 12.42% | 13.39% | 13.48% |
| Others | 0% | 3.17% | 6.4% | 5.23% |
| No. of Shareholders | 8 | 425 | 365 | 353 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 2 / 8 / 9

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 53.19 | Sell |
| EMA (10) | 53.26 | Sell |
| SMA (20) | 53.81 | Sell |
| EMA (20) | 54.57 | Sell |
| SMA (50) | 59.12 | Sell |
| EMA (50) | 58.42 | Sell |
| SMA (100) | 64.95 | Sell |
| EMA (100) | 63.79 | Sell |
| SMA (200) | — | Neutral |
| EMA (200) | — | Neutral |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 42.5 | Neutral |
| MACD (12,26,9) | -1.91 | Buy |
| Stochastic (14,3,3) | 23.47 | Neutral |
| ADX (14) | 10.64 | Neutral |
| Williams %R (14) | -82.5 | Buy |
| ATR (14) | 2.59 | High Volatility |
| ROC (12) | -3 | Sell |
| Stoch RSI (14) | 30.98 | Neutral |
| UO (7,14,28) | 48.18 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-09 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c85754e2-6a10-4b98-b920-0282677b36b6.pdf) |
| 2026-09-08 | [31St Annual General Meeting Of The Company](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4c221739-e7c5-42e7-bd83-d9a0cdcc55f2.pdf) |
| 2026-09-08 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d6de2753-9206-4336-9987-04a4596d13d2.pdf) |
| 2026-09-08 | [Book Closure On Account Of 31St AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=304510ae-a42e-4f06-af36-13046c480b2e.pdf) |
| 2026-09-08 | [Details Of Cut-Off Date And E-Voting For 31St AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9b01e833-e6aa-4d60-8295-b843ef8c6795.pdf) |
| 2026-09-06 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=31dfaa84-3c1e-43ec-a664-f96a5e39ed9a.pdf) |
| 2026-09-05 | [Board Meeting Outcome for Outcome Of The Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=753be112-cfb5-4784-aa17-b3b9385d6490.pdf) |
| 2026-09-05 | [Announcement under Regulation 30 (LODR)-Change in Directorate](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c463af1e-cc48-4086-ad07-d6577c3412eb.pdf) |
| 2026-05-31 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=335af390-63e5-4386-94af-cfbeb375c880.pdf) |
| 2026-05-30 | [Board Meeting Outcome for Outcome Of The Board Meeting Held On 30Th May 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dc116517-1acb-4de4-9fae-5943f59053af.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-05-30 | [Financial Results For The Half-Year And Year Ended 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=850138a6-47b6-45b9-989a-9b89cd5f173e.pdf) |
| 2025-11-12 | [Unaudited Standalone Financial Results For The Half Year Ended 30Th September 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=92132b5d-a27c-4a69-94c3-fdcb0dadb471.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 4 Nov 2025 - Board meeting on 12 Nov 2025 to approve unaudited results for half-year ended 30 Sep 2025. | [Board Meeting Intimation for Approval Of Half Yearly Financial Results 4 Nov 2025 - Board meeting on 12 Nov 2025 to approve unaudited results for half-year ended 30 Sep 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/aa43656a-9758-4f7c-8ef4-b08fd855ccf8.pdf) |
| 24 Feb - Copy of newspaper advertisements published in Financial Express - English & Gujarati & Gujarat Samachar regarding postal ballot notice dated February 12, 2026. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 24 Feb - Copy of newspaper advertisements published in Financial Express - English & Gujarati & Gujarat Samachar regarding postal ballot notice dated February 12, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d46b1cba-3159-4c83-8789-6050736cf1fa.pdf) |
| 23 Feb - Postal ballot: approve 2026 WESOP (5% cap) and RPTs capped INR520/700/400 Cr; voting Feb24–Mar25, 2026. | [Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 23 Feb - Postal ballot: approve 2026 WESOP (5% cap) and RPTs capped INR520/700/400 Cr; voting Feb24–Mar25, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9543eaee-60f6-437f-8af9-fcc16091fd1c.pdf) |
| 20 Mar - Promoter bought 241,600 shares (2.29%) on 16 Mar 2026; stake increased to 71.53%. | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 20 Mar - Promoter bought 241,600 shares (2.29%) on 16 Mar 2026; stake increased to 71.53%.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/CAF58830_9769_45E8_8F8E_7CB86DC13187_093548.pdf) |
| 19 Mar - Promoter Mehul Joshi bought 2,41,600 shares (2.29%) on 16 Mar 2026; holding now 71.53% | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 19 Mar - Promoter Mehul Joshi bought 2,41,600 shares (2.29%) on 16 Mar 2026; holding now 71.53%](https://www.bseindia.com/xml-data/corpfiling/AttachHis/25C5B788_5584_4327_ACE9_86238884F9B3_121614.pdf) |
| 19 Feb - NSE Sustainability assigned ESG rating 70 (Category: Aspiring) for FY2024-25; disclosed 19 Feb 2026. | [Announcement under Regulation 30 (LODR)-Credit Rating 19 Feb - NSE Sustainability assigned ESG rating 70 (Category: Aspiring) for FY2024-25; disclosed 19 Feb 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8caebc14-b971-4a94-9230-2c1cbba11d6e.pdf) |
| 18 Feb - From time to time, this is to inform you that the officials of the Company will be meeting few of the Analyst/ Investors, as per … | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 18 Feb - From time to time, this is to inform you that the officials of the Company will be meeting few of the Analyst/ Investors, as per …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5c63bcdd-082c-4a46-8193-8ac72d573ca9.pdf) |
| 16 Feb - Earnings Call Transcript on the conference call held on February 13, 2026 on Unaudited Financial Results for the quarter ended December 31, 2025 is enclosed … | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript 16 Feb - Earnings Call Transcript on the conference call held on February 13, 2026 on Unaudited Financial Results for the quarter ended December 31, 2025 is enclosed …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d1904439-c5d4-4722-9c62-50b6ade00fef.pdf) |
| 14 Feb - ITAT stay ordered; pay INR 3,42,47,282 (20% of INR 17,12,36,410) in two instalments by 26-Feb and 26-Mar-2026. | [Disclosure Under Regulation 30 Of SEBI (LODR) Regulations 2015 ('The Listing Regulations') - Update 14 Feb - ITAT stay ordered; pay INR 3,42,47,282 (20% of INR 17,12,36,410) in two instalments by 26-Feb and 26-Mar-2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6b32fcb5-4a67-48f0-863b-4580fc534c7b.pdf) |
| 13 Feb - Newspaper publication on unaudited financial results of the Company for third and nine months ended December 31 2025 in Financial Express (English & Gujrati - … | [Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Feb - Newspaper publication on unaudited financial results of the Company for third and nine months ended December 31 2025 in Financial Express (English & Gujrati - …](https://www.bseindia.com/xml-data/corpfiling/AttachLive/d8f314ac-dc3b-46ec-898d-f05e4938de3a.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/33f24650-58ae-46ed-bbff-e3c5e262a70b.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ece7fc88-99f4-47a0-b2c9-76181e65cca9.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fb28e056-883b-4e59-98ac-5b25e6b88514.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6956625a-fa1f-48bc-801d-4ef28d502993.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6a334b15-8926-47ef-9d01-a110cddf6375.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3098c38e-7607-4f30-87b8-fc15018d92fb.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d4062107-141d-42b3-bd85-9b72ffee24d9.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ff392d4a-2cc2-4c24-b37d-4409d36daaf3.pdf) |
| Nov 2020 | [Concall - Nov 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d9cbb55e-4d13-4f4b-8408-343dce73d3d3.pdf) |
| Nov 2016 | [Concall - Nov 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8EAC0AFE_28C1_4E45_8A9F_87FFA90BAA6A_134415.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ece4a9e3-2dac-4e40-b779-df112b59c50e.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0f1ef5cc-2069-4ab3-a01a-bb564acb9f62.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2eac413a-ceeb-40cb-939d-2f108d0477d7.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/534139/74245534139.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/534139/69646534139.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/534139/5341390320.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/534139/5341390319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2018/SCHNEIDER_ELECTRIC_INFRASTRUCTURE_LTD-534139-MARCH-2018.PDF) |
| from bse | [Financial Year 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/534139/5341390317.pdf) |
| from bse | [Financial Year 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/534139/5341390316.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:08:58.423Z.