Mahickra Chemicals
Mahickra Chemicals (MAHICKRA) share price was ₹265.00 at the 28 Oct 2026 close; market capitalisation ₹259 Cr; sector Chemicals. The share price rose 67.4% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Mar 2026 quarter, revenue was ₹57 Cr, against ₹43 Cr a year earlier and net profit was ₹4 Cr, against ₹1 Cr a year earlier (compared with Mar 2025). Promoters held 40.10% of Mahickra Chemicals in Sep 2026, unchanged from Mar 2026. Its Tapetide Score is 51/100 (Average) as of 28 Oct 2026.
Key Fundamentals
SMEChemicals & PetrochemicalsChemicalsPrice-based figures as of 29 Oct 2026, 09:44 IST · TTM
Peer Comparison
Commodities › Chemicals › Dyes & Pigments › Dyes And Pigments
| ₹1,062.60 | 117.41 | 8,460 Cr | 2.40 | 0.48% | 1.06% | 4.71% | 10,046 Cr | 88 Cr | |
| ₹514.45 | 0.53 | 3,353 Cr | 0.51 | 0.00% | 86.37% | 91.95% | 7,258 Cr | 5,848 Cr | |
| ₹156.69 | 28.70 | 1,973 Cr | 1.70 | 0.07% | 4.13% | 8.35% | 2,311 Cr | 68 Cr | |
| ₹568.45 | 25.50 | 1,838 Cr | 3.05 | 0.42% | 11.49% | 13.13% | 1,017 Cr | 72 Cr | |
| ₹370.75 | 21.81 | 1,618 Cr | 2.73 | 0.70% | 7.50% | 9.11% | 1,019 Cr | 74 Cr | |
| ₹447.90 | 21.63 | 1,034 Cr | 1.81 | 17.95% | 7.81% | 10.00% | 831 Cr | 47 Cr | |
| Mahickra Chemicals (this company) | ₹294.95 | — | 288 Cr | 4.32 | 0.06% | 7.71% | 12.60% | — | — |
| Median 7 companies | ₹447.90 | 23.66 | 1,838 Cr | 2.40 | 0.42% | 7.71% | 10.00% | 1,665 Cr | 73 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Data confidence 84/100
Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Weaknesses
4- Stock is trading at 4.18 times its book value
- Promoter holding has decreased over last quarter: -8.17%
- The company has delivered a poor sales growth of 4.21% over past five years.
- Company has a low return on equity of 7.38% over last 3 years.
Technical Indicators
Oscillators
Bearish
Overall
Bearish
Moving Averages
Bearish
Growth Rate
change over 1 year
change over 1 year
change over 1 year Operating margin 11% · Mar 2026
Quarterly Results
| Particulars | Mar 2020 | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 45 | 34 | 53 | 42 | 60 | 54 | 49 | 37 | 35 | 45 | 43 | 49 | 57 |
| Expenses | 45 | 33 | 52 | 41 | 60 | 53 | 47 | 36 | 36 | 42 | 43 | 48 | 51 |
| Operating Profit | 0 | 1 | 1 | 2 | 0 | 0 | 2 | 2 | -1 | 2 | 0 | 1 | 6 |
| OPM % | 0% | 2.9% | 2.1% | 3.6% | 0.3% | 0.9% | 3.7% | 4.1% | -2.5% | 5% | 0.4% | 3% | 11% |
| Other Income | 2 | 1 | 2 | 1 | 3 | 2 | 1 | 0 | 2 | 0 | 2 | 1 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 1 | 2 | 3 | 2 | 2 | 2 | 2 | 1 | 1 | 2 | 2 | 1 | 6 |
| Tax % | 16% | 29% | 29% | 28% | 28% | 29% | 27% | 29% | 28% | 25% | 31% | 32% | 24% |
| Net Profit | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 0 | 1 | 1 | 1 | 1 | 4 |
| EPS (₹) | 1.54 | 1.29 | 2.54 | 2.06 | 2.07 | 1.96 | 2.09 | 0.6 | 0.71 | 1.66 | 1.47 | 1.12 | 4.35 |
Profit & Loss
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 20 | 80 | 94 | 86 | 102 | 103 | 72 | 90 | 106 |
| Expenses | 19 | 79 | 94 | 84 | 101 | 101 | 71 | 86 | 99 |
| Operating Profit | 1 | 1 | 1 | 2 | 2 | 2 | 1 | 4 | 8 |
| OPM % | 3.9% | 1.3% | 0.6% | 2.4% | 1.7% | 2.4% | 0.9% | 5% | 7% |
| Other Income | 0 | 2 | 4 | 3 | 4 | 4 | 2 | 1 | 1 |
| Interest | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| PBT | 1 | 3 | 4 | 4 | 5 | 5 | 2 | 4 | 7 |
| Tax % | 21% | 30% | 28% | 30% | 28% | 28% | 29% | 28% | 25% |
| Net Profit | 1 | 2 | 3 | 3 | 3 | 3 | 1 | 3 | 5 |
| EPS (₹) | 1.44 | 2.82 | 3.68 | 3.83 | 4.12 | 4.04 | 1.32 | 3.11 | 5.28 |
| Div. Payout % | 0% | 0% | 8% | 5% | 16% | 16% | 23% | 6% | 3% |
Balance Sheet
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 10 |
| Reserves | 3 | 8 | 16 | 19 | 22 | 24 | 25 | 28 | 57 |
| Borrowings | 6 | 5 | 6 | 11 | 10 | 10 | 13 | 15 | 16 |
| Other Liabilities | 20 | 23 | 21 | 20 | 25 | 21 | 14 | 17 | 14 |
| Total Liabilities | 35 | 43 | 50 | 58 | 65 | 63 | 61 | 68 | 97 |
| Fixed Assets | 1 | 1 | 1 | 1 | 2 | 4 | 5 | 5 | 5 |
| CWIP | 0 | 0 | 2 | 3 | 3 | 0 | 1 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 34 | 42 | 47 | 54 | 61 | 59 | 55 | 63 | 92 |
| Total Assets | 35 | 43 | 50 | 58 | 65 | 63 | 61 | 68 | 97 |
Cash Flow
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Operating | -11 | -4 | -3 | -2 | 3 | 2 | -1 | 0 | -8 |
| Investing | -1 | 0 | -2 | -1 | -1 | -1 | -1 | 0 | -7 |
| Financing | 13 | 3 | 6 | 3 | -2 | -1 | 2 | 0 | 25 |
| Net Cash Flow | 1 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 9 |
| Free Cash Flow | -12 | -4 | -6 | -3 | 2 | 1 | -2 | 0 | -8 |
| CFO/OP | -1,417 | -328 | -397 | -59 | 259 | 149 | -75 | 12 | -84 |
Ratios
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 313 | 108 | 106 | 143 | 136 | 130 | 119 | 104 | 115 |
| Inventory Days | 212 | 42 | 49 | 71 | 72 | 78 | 143 | 150 | 145 |
| Days Payable | 416 | 111 | 83 | 89 | 98 | 77 | 72 | 73 | 51 |
| Cash Conversion Cycle | 109 | 39 | 72 | 125 | 110 | 132 | 190 | 180 | 210 |
| Working Capital Days | 116 | 66 | 82 | 101 | 93 | 100 | 140 | 119 | 152 |
| ROCE % | — | 20% | 20% | 15% | 14% | 14% | 6% | 10% | 13% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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51 extracted metrics + investor summaries across FY18–FY26.
Documents
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Company Information
Incorporated in 1997, Mahickra Chemicals Ltd manufacturers, trades & exports Dyes and Chemicals[1]
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