Tatva Chintan Pharma Chem Limited

NSE: TATVASpecialty ChemicalsASM stage 1

Share price

₹1,804.80

-2.74% close of 9 Oct 2026

Market cap ₹4,221 CrP/E 82.1 (as of 8 Oct 2026)

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹4,221 Cr

P/E ratio

82.1

P/B ratio

5.4

ROCE

7.2%

ROE

5.5%

Dividend yield

0.1%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹1,991.2052-week low ₹1,048.00

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 41.1% over the past year, and 4.1% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 22.8% to 19.4% over the last four years.

Whether it grew faster than its sector

It grew 4.1% a year against a sector median of 10.2% — 6.1 percentage points slower.

Room to re-rate, or risk of de-rating

At 82.1× earnings it costs 3.4× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 56.2×, across 5 companies. It is against its own five-year median of 80.8×, the 52nd percentile of its own range.

Whether growth justifies the valuation

Its earnings are falling, so growth cannot justify the price.

	Profit growth	Price per ₹1 profit	Per 1% growth
Tatva Chintan Pharma Chem Limited — this one	-5%/yr	82.1×	—
Pidilite Industries	25%/yr	56.2×	₹2.2
Gujarat Fluorochemicals Limited	-24%/yr	79.0×	—
Navin Fluorine International Limited	21%/yr	53.0×	₹2.5
Aether Industries Limited	20%/yr	96.7×	₹4.8
Deepak Nitrite Limited	-13%/yr	27.0×	—

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Specialty Chemicals), it ranks 51 of 73 on returns, 58 of 72 on growth, 21 of 73 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 7.2% on capital, ahead of 30% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the last five years it made ₹202 crore of cash from the business but spent ₹609 crore on plant and equipment, ₹407 crore more than it made; the gap was from shareholders — borrowings did not rise. And the profit is real: of every 100 rupees it reported over 9 years, about 78 arrived as cash. Its cash comes back more slowly than it used to: it went from being waiting 74 days for its cash to waiting 92 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

8 of 9 checks clear · 89%

Latest result

What the last results showed. Whether management kept its word is in Pro.

Results are expected soon.

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap: ₹4,221 Cr
Prev close: ₹1,804.80
52w High: ₹2,009
52w Low: ₹1,040
Enterprise value: ₹4,379 Cr
Beta: 1.0
Price CAGR 1y: 88.0%
Price CAGR 3y: 8.0%
Price CAGR 5y: -3.0%
Price CAGR 10y: —

Ratios

Return on assets: 4.2%
PEG ratio: -16.1
P/E ratio: 82.1
P/B ratio: 5.4
EV / EBITDA: 40.9
Industry P/E: 31.9
ROCE: 7.2%
ROCE 5y average: 10.0%
ROE: 5.5%
Debt / Equity: 0.2
Interest coverage: 20.0
Dividend yield: 0.1%
ROE 3y average: 4.0%
ROE last year: 6.0%

Annual P&L

Annual revenue: ₹506 Cr
Annual profit: ₹42 Cr
Operating margin: 18.0%
Net profit margin: 8.3%
EBITDA margin: 18.6%
Sales growth 3y: 6.1%
Sales growth 5y: 11.0%
Profit growth 3y: -5.0%
Profit growth 5y: -4.0%
EPS: ₹18.0
Sales growth TTM: 41.0%
Profit growth TTM: 632.0%
Dividend payout: 11.0%

Quarter P&L

Sales latest quarter: ₹167 Cr
Profit latest quarter: ₹16 Cr
YoY quarterly sales growth: 43.0%
YoY quarterly profit growth: 128.6%
OPM latest quarter: 19.3%

Balance Sheet

Book Value: ₹340
Face Value: ₹10.0
Total debt: ₹120 Cr
Total cash: ₹9 Cr
Borrowings: ₹120 Cr
Reserves / Equity: 33.0

Cash Flow

Operating cash flow: ₹31 Cr
Free cash flow: -₹82 Cr
FCF yield: -2.0%
Net cash flow: -₹6 Cr

Shareholding

Promoter holding: 72.0%
FII holding: 3.9%
DII holding: 3.1%
Public holding: 20.9%

Peer comparison

Company	Price ₹	P/E	Mkt cap ₹ Cr	Div yield %	Profit qtr ₹ Cr	Profit var %	Sales qtr ₹ Cr	Sales var %	ROCE %
Pidilite Inds.	1,475.00	56.7	1,50,235	0.77	883.5	28.2	4,551.6	21.3	31.0
Gujarat Fluoroch	4,464.95	79.4	49,047	0.07	219.0	21.4	1,588.0	24.0	9.6
Navin Fluo.Intl.	8,438.00	54.4	43,299	0.18	243.3	107.7	1,045.1	44.1	21.0
Aether Industri.	1,751.15	96.8	23,243	0.00	62.8	28.0	326.6	27.3	11.9
Deepak Nitrite	1,584.90	27.2	21,617	0.46	345.0	207.5	2,577.6	36.4	11.4
Atul	5,950.00	22.0	17,518	0.50	253.9	92.0	1,848.0	25.0	14.9
Aarti Industries	482.35	33.5	17,497	0.20	155.0	256.5	2,387.0	42.5	6.9
Tatva Chintan	1,889.50	84.4	4,420	0.10	16.0	155.3	167.1	43.0	7.2
Median	352.40	28.1	1,044	0.23	13.5	51.6	174.4	26.0	13.7

Competes with: Aarti Industries Limited, Aether Industries Limited, Atul Limited, BASF India Limited, Deepak Nitrite Limited, Gujarat Fluorochemicals Limited, Navin Fluorine International Limited, Pidilite Industries

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026

Line item	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	114	97	84	98	105	83	86	108	117	124	131	134	167
Expenses	93	76	73	83	93	78	79	99	100	101	106	106	135
Material Cost								48	64	62	70	67	105
Change in Inventories								8.99	-6.83	-8.36	-16	-13	-32
Purchases of Stock-in-Trade								0.78	1.29	1.24	1.72	2.24	1.40
Employee Cost								14	14	15	17	17	17
Other Expenses								27	27	31	34	33	43
Operating Profit	21	20	11	16	13	6	7	9	17	22	25	28	32
OPM %	19	21	13	16	12	6.68	8.23	8.31	15	18	19	21	19
Other Income	1	1	1	5	1	0	0	1	1	1	2	-0	1
Exceptional items (within Other Income)								0	0	0	0	0	-1.32
Interest	3	3	0	0	0	0	0	0	0	1	0	1	2
Depreciation	6	7	7	6	7	7	7	7	9	9	9	10	11
Profit before tax	13	11	5	14	7	-1	-0	2	9	14	18	17	21
Tax %	29	31	34	30	24	-34	-165	49	27	27	14	38	24
Net Profit	10	8	3	10	5	-1	0	1	7	10	15	10	16
EPS in Rs	4.29	3.33	1.48	4.11	2.23	-0.28	0.06	0.44	2.84	4.24	6.49	4.41	6.83
Diluted EPS in Rs								0.44	2.84	4.24	6.49	4.41	6.83

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026

Line item	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	136	206	263	300	434	424	394	383	506	556
Expenses	113	172	208	234	325	363	325	348	412	448
Material Cost								174	263
Change in Inventories								22	-45
Purchases of Stock-in-Trade								2.98	6.49
Employee Cost								53	63
Other Expenses								97	125
Operating Profit	23	34	55	67	109	61	69	35	94	108
OPM %	17	17	21	22	25	14	17	9	18	19
Other Income	1	1	1	5	9	2	7	2	3	4
Exceptional items (within Other Income)								0	0
Interest	3	4	4	4	5	9	7	2	2.85	5
Depreciation	3	4	5	7	8	10	26	28	37	38
Profit before tax	19	27	48	61	104	45	44	7.58	57	69
Tax %	35	25	21	14	8	-2	30	25	26
Net Profit	12	21	38	52	96	45	30	5.71	42	51
EPS in Rs	15	26	47	26	43	21	13	2.44	18	22
Diluted EPS in Rs								2.44	18
Dividend Payout %	0	0	0	19	5	10	15	41	11

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years: —
5 years: 11%
3 years: 6%
TTM: 41%

Compounded profit growth

10 years: —
5 years: -4%
3 years: -5%
TTM: 632%

Stock price CAGR

10 years: —
5 years: -3%
3 years: 8%
1 year: 88%

Return on equity

10 years: —
5 years: 8%
3 years: 4%
Last year: 6%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated

Line item	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	8	8	8	20	22	22	23	23	23
Reserves	51	72	110	146	451	493	714	715	758
Borrowings	56	77	91	90	120	170	14	36	120
Other Liabilities	28	31	41	59	65	74	67	61	102
Minority Interest								0	0
Total Liabilities	144	188	249	315	658	759	819	836	1,004
Fixed Assets	57	67	111	120	160	196	427	529	609
CWIP	10	6	5	10	51	231	77	24	25
Investments	1	0	0	0	0	0	10	0	4
Other Assets	76	115	133	185	447	332	305	283	365
Total Assets	144	188	249	315	658	759	819	836	1,004

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated

Line item	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	13	7	25	20	20	28	98	25	31
Cash from Investing Activity	-30	-17	-40	-21	-197	-101	-121	-65	-116
Cash from Financing Activity	7	17	10	-5	235	38	31	17	79
Net Cash Flow	-10	8	-5	-6	59	-36	8	-24	-6
Free Cash Flow	-18	-2	-23	-1	-69	-175	-30	-51	-82

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated

Line item	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	77	73	69	110	48	73	65	85	86
Inventory Days	148	114	175	173	319	262	320	246	319
Days Payable	127	71	87	114	83	52	94	60	95
Cash Conversion Cycle	99	116	157	169	283	283	291	271	310
Working Capital Days	15	46	47	74	74	25	158	148	92
ROCE %		22	28	28	26	9	7	1	7

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026

Line item	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	72	72	72	72	72	72	72	72	72	72	72	72
FIIs	4.40	4.21	3.65	3.37	3.33	3.36	3.30	3.26	3.40	4.17	3.81	3.93
DIIs	14	13	13	11	6.83	6.34	5.46	5.11	3.87	3.32	2.99	3.11
Public	9.79	11	11	14	18	18	19	20	21	20	21	21
No. of Shareholders	74,628	74,519	73,730	73,912	79,623	79,009	78,393	76,792	73,331	68,657	66,842	64,921

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year +72.2% (₹1,048.00 → ₹1,804.80)Brick size ₹95.35 (fixed)Bricks 17

Price moved up one brickPrice moved down one brickLast close ₹1,804.80 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

exports as % of revenue

75.00

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

111inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

62,58,462inr

2026-03-31

News

News and filings about Tatva Chintan Pharma Chem Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

Alkyl halides
General and fine chemicals & solvents
Tertiary amines

Sells to

Asian Paints · Specialty chemicals
Atul Limited · PTCs, agrochem/specialty intermediates
Bayer AG · Agrochemical intermediates / specialty chemicals
Divi's Laboratories · PTCs, PASC intermediates, specialty chemicals
Ipox Chemicals KFT · PTCs/specialty chemicals
Jiangsu Guotai Super Power New Materials · Electrolyte salts/solutions for supercapacitors
Laurus Labs Limited · PTCs, PASC intermediates, glymes/solvents
Merck · Specialty chemicals
Navin Fluorine International Limited · PTCs, specialty chemicals
Otsuka Chemical · SDAs/PTCs/specialty chemicals
SRF Limited · PTCs, specialty chemicals
Tosoh Corporation · Structure directing agents (SDAs) for zeolites

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector: Chemicals
Industry: Specialty Chemicals
Classification: Chemicals › Specialty Chemicals
ISIN: INE0GK401011

Plants

Tatva Chintan Ankleshwar Plant
Tatva Chintan Dahej Plant
Tatva Chintan Jolva Plant

News impact

Big market events that reach Tatva Chintan Pharma Chem Limited, and how the effect spreads.

23 Sept, 07:38 IST · Market event · medium impact

India starts anti-dumping probe into Chinese Glycine imports

India is probing cheap Chinese glycine imports, which could help home chemical makers later but may raise costs for food, drug and farm buyers if an import tax follows.

Chemicals

Who it hits first

India's trade investigator (DGTR, the body that checks unfair imports) opened a probe into cheap glycine, a simple chemical used in food, drugs and farm sprays, arriving from China.
If the probe finds harm to local makers, India can add an import tax (anti-dumping duty) that makes Chinese glycine costlier and helps home producers sell more.
No listed glycine maker is named in the evidence, so any stock lift today is hope of future protection, while buyers of glycine could later pay more.

Who may gain

Indian glycine and nearby specialty makers, if a duty lifts local prices (no single listed maker confirmed in the pack)
Farm-chemical sellers such as PI Industries and GSP Crop, if protection spreads to agro inputs

Along the supply chain

Downstream

Indian food, drug and farm-spray makers that buy glycine could face higher input costs if cheap Chinese supply is taxed.

Upstream

Chinese glycine exporters face the probe; if a duty follows, their shipments to India shrink.

Where demand moves

Business

No extra orders yet — the probe only starts the case; real business gain comes months later if a duty curbs Chinese supply and buyers switch to home makers.

Capital

No fresh funds flow; investors may bid up chemical shares on protection hopes, but cash gains arrive only if duties lift prices and profits.

How it spreads across sectors

Chemicals

Small positive mood for home makers on protection hopes; real gains only if a duty lands.

Pharma

Mild cost worry since glycine feeds drugs; dearer supply would squeeze pill makers later.

Textiles

Negligible near-term link; fibre makers watch only for broader China-duty mood.

A pattern seen before

Cascade chain

DGTR probes Chinese glycine dumping → possible import duty
Duty curbs cheap imports → domestic glycine prices firm
Chemical makers gain share → pharma and textile buyers face higher costs

Pattern name

China Cascade

Patterns

China Cascade

Sectors queried

Pharma
Textiles

When it plays out

Immediate

1–7 days: chemical shares drift on protection hopes with no order change.

Medium term

1–6 months: probe findings decide any duty; only then do prices, orders and margins move.

Short term

1–4 weeks: filings and hearing news set expectations; buyers watch for price hints.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

11 Sep 2026	unspecified	₹2
12 Sep 2025	unspecified	₹1
6 Sep 2024	unspecified	₹2
8 Sep 2023	unspecified	₹2
8 Sep 2022	unspecified	₹2

Splits, bonuses & buybacks

daily-prices repair: 8 rows from NSE's archive (replace 2, delete 1, insert 5), 2023-11-12..2026-02-01 (docs/flat_day_repair.md)1× · 12 Nov 2023

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.