20 Microns Limited (20MICRONS)
₹193.32 +0.47% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, 20 Microns' revenue was ₹245 Cr (-1.0% year on year, -6.2% on the previous quarter), and net profit ₹17.7 Cr (+5.2% year on year); the operating margin was 13.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹245 | -1.0% | -6.2% |
| Operating profit | ₹32.4 | +2.1% | +1.3% |
| Net profit | ₹17.7 | +5.2% | -1.4% |
| EPS (₹) | 5.04 | +5.4% | +1.0% |
| Operating margin | 13.2% | — | — |
20MICRONS delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 41.88% of the 20MICRONS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 44.97%. That is close to its usual level. Volume was 0.4 times its average, well below normal.
Delivery in the last 5 sessions: 39.8% · 43.8% · 44.0% · 53.4% · 41.9%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
20 Microns Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The confirmation, verified by its Registrar and Share Transfer Agent Cameo Corporate Services Limited, confirms that demat requests were processed and certificates were mutilated within prescribed timelines. This is a standard procedural disclosure with no operational or financial impact on the company.
- Compliance certificate submitted under Regulation 74(5) of SEBI regulations
- Pertains to the quarter ended September 30, 2026
- Confirmation issued based on certificate received from RTA Cameo Corporate Services Limited
- Demat requests accepted/rejected and cancelled within statutory timelines
20 Microns Limited has acquired a 99.99% partnership interest in M/s Shree Shrest Minerals for a cash consideration of Rs 1.50 Crore. The acquisition includes mining rights for Quartz and Feldspar in Bhilwara, Rajasthan, which are key raw materials for the company's industrial mineral products. While strategically aligned for captive sourcing, the target is financially small, reporting an FY25 turnover of Rs 19.55 Lakhs and a loss of Rs 3.01 Lakhs. This transaction represents approximately 0.35% of 20 Microns' net worth of Rs 432 Cr.
- Acquisition of 99.99% interest in a partnership firm for a total cash consideration of Rs 1.50 Crore
- Target holds mining leases for Quartz and Feldspar near Village Khakharmala, Rajasthan
- Target FY25 turnover of Rs 19.55 Lakhs is less than 0.03% of 20 Microns' TTM revenue of Rs 951 Cr
- The firm reported a net loss of Rs 3.01 Lakhs in FY25, compared to a profit of Rs 1.94 Lakhs in FY23
- Acquisition is intended to strengthen captive and strategic sourcing of industrial minerals
20 Microns reported a resilient Q1 FY27 with PAT growing 5.2% YoY to ₹17.7 Cr, despite a marginal 1% dip in revenue to ₹244.7 Cr. EBITDA margins expanded by 40 bps to 13.2%, driven by improved raw material utilization and a favorable product mix. The company unveiled a ₹100 Cr capex program, representing approximately 14.5% of its current market cap, to be executed over 24 months. Management has set an ambitious target of 18% revenue CAGR and 200-250 bps margin expansion over the next three years.
- PAT increased 5.2% YoY to ₹177.4 Mn (₹17.7 Cr) for the quarter ended June 30, 2026.
- EBITDA margins improved to 13.2% from 12.8% YoY, reflecting better operational discipline.
- Announced a ₹100 Crore capex plan with 40% allocated to Malaysian operations and 30% to Indian facilities.
- Targeting a 18% Revenue CAGR over the next 3 years and ROCE improvement to 18-20%.
- Malaysia capacity expansion aims for 1.08 lakh MT annual production by mid-FY2028.
Shareholders of 20 Microns Limited have approved all resolutions at the 39th Annual General Meeting held on July 31, 2026. Key approvals include a final dividend of ₹1.25 per equity share (25% of face value) for FY26 and the re-appointment of Mrs. Sejal Parikh as a Director. The voting saw a total turnout of 51.07% of the total shareholding, with nearly 100% of polled votes in favor of all resolutions. This confirms the company's financial statements for the year ended March 31, 2026, where it reported a PAT of ₹67.08 Cr.
- Final dividend of ₹1.25 per equity share (25% on ₹5 face value) approved for FY26
- Total of 1,80,21,901 votes polled, representing 51.07% of the total 3,52,86,502 shares
- Resolution to adopt FY26 financial statements passed with 99.9997% majority
- Re-appointment of Mrs. Sejal Parikh as Director approved with 18,021,855 votes in favor
- Remuneration for Cost Auditors for FY27 ratified by shareholders
20 Microns Limited has released the scrutinizer's report for its 39th Annual General Meeting held on July 31, 2026. Shareholders unanimously approved all resolutions, including the adoption of FY26 financial statements and the declaration of a dividend for the 2025-26 fiscal year. The company reported a TTM revenue of ₹954 Cr and a PAT of ₹67 Cr for FY26. Additionally, the re-appointment of Director Mrs. Sejal Parikh and the ratification of cost auditor remuneration for FY27 were confirmed with near-total consensus.
- 1,80,21,855 votes (100%) cast in favor of adopting the FY26 Audited Financial Statements.
- Dividend for FY25-26 approved with 1,80,21,755 votes in favor and only 146 votes against.
- Re-appointment of Director Mrs. Sejal Parikh confirmed with 100% of the 1,80,21,901 total votes cast.
- Ratification of Cost Auditors' remuneration for FY26-27 approved by 88 shareholders.
- Voting rights were determined based on the cut-off date of July 24, 2026.
20 Microns reported a consolidated net profit of ₹18.12 Cr for the quarter ended June 30, 2026, representing a 7.5% increase from ₹16.86 Cr in the same period last year. Revenue from operations remained nearly flat at ₹244.72 Cr compared to ₹247.16 Cr YoY, a marginal decline of 1%. Profitability was supported by a significant reduction in finance costs, which dropped 16.8% YoY to ₹3.91 Cr. Earnings per share (EPS) improved to ₹5.14 from ₹4.78 in the year-ago quarter.
- Consolidated Net Profit increased 7.5% YoY to ₹18.12 Cr from ₹16.86 Cr.
- Revenue from operations stood at ₹244.72 Cr, showing a marginal 1% decline from ₹247.16 Cr YoY.
- Finance costs were reduced to ₹3.91 Cr from ₹4.70 Cr in the previous year's corresponding quarter.
- Consolidated EPS for the quarter improved to ₹5.14 compared to ₹4.78 in Q1 FY26.
- Total expenses decreased slightly to ₹221.59 Cr from ₹225.11 Cr YoY, helping maintain margins.
20 Microns Limited concluded its 39th Annual General Meeting on July 31, 2026, with shareholders approving all four proposed resolutions with near-unanimous support. Key approvals include the adoption of FY26 audited financial statements and the declaration of a dividend for the financial year 2025-26. Additionally, shareholders ratified the re-appointment of Mrs. Sejal Parikh as Director and the remuneration for Cost Auditors for FY27. Total voting participation involved approximately 1.80 crore votes, reflecting solid shareholder engagement.
- 100% of votes (1,80,21,755) were cast in favor of the dividend declaration for the financial year 2025-26
- Adoption of FY26 Standalone and Consolidated Audited Financial Statements approved with 1,80,21,855 votes in favor
- Mrs. Sejal Parikh was re-appointed as Director with 100% assent from voting members
- Voting rights were determined based on the cut-off date of July 24, 2026
- Remote e-voting period spanned from July 28 to July 30, 2026, prior to the AGM
20 Microns Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended June 30, 2026. The document confirms that the company's Registrar and Share Transfer Agent (RTA), Cameo Corporate Services Limited, has processed all dematerialization requests within the stipulated time limits. It further verifies that physical security certificates were mutilated and cancelled after the depositories were substituted in the register of members. This is a standard administrative filing required for all listed entities to ensure the integrity of the shareholding system.
- Compliance certificate issued for the quarter ended June 30, 2026
- Confirmation provided by RTA Cameo Corporate Services Limited
- Securities received for dematerialization were processed and listed on stock exchanges
- Physical certificates were mutilated and cancelled within the stipulated time limit
The promoter group of 20 Microns Limited has submitted its annual declaration under SEBI Takeover Regulations for the financial year ended March 31, 2026. The group confirmed that none of their 1,58,60,521 shares, representing a 45.04% stake, were encumbered or pledged during the year. The largest holding within the group is maintained by Ionix Advanced Materials Private Limited at 24.56%. This filing is a standard transparency measure to confirm that promoter equity is not being used as collateral for loans.
- Total promoter and promoter group holding stands at 1,58,60,521 shares as of March 31, 2026
- Promoter group maintains a 45.04% stake in the company
- Zero (0) shares were encumbered, directly or indirectly, during the financial year 2025-26
- Ionix Advanced Materials Private Limited is the lead promoter entity with a 24.56% stake (86,66,181 shares)
20 Microns Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI Insider Trading regulations. The closure is in anticipation of the board meeting to approve the unaudited financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the financial results are officially declared. This is a standard regulatory procedure for all listed companies to prevent insider trading during the earnings period.
- Trading window closure commences on Wednesday, July 1, 2026.
- Closure pertains to the Unaudited Financial Results for the quarter ending June 30, 2026.
- The window will reopen 48 hours after the conclusion of the Board Meeting.
- Applicable to all Designated Persons including Promoters, Directors, and Key Managerial Personnel.
20 Microns Limited has incorporated a new step-down subsidiary in China, named Guizhou Twenty Microns International Trade Co., Ltd. The entity was established through the company's wholly-owned subsidiary, 20 Microns Sdn. Bhd., which holds a 90% equity stake. The initial investment for this stake is RMB 1.8 million. This move is strategically aimed at strengthening the company's international business presence and supporting its trading and import-export activities for minerals and ores in the Chinese market.
- Incorporated Guizhou Twenty Microns International Trade Co., Ltd. in China on June 3, 2026.
- The subsidiary is 90% owned by 20 Microns Sdn. Bhd., a wholly-owned subsidiary of the listed entity.
- Initial subscription amount for the 90% stake is RMB 18,00,000 (approx. ₹2.1 Crore).
- The entity will focus on trading, import-export, and allied activities for non-metallic minerals and metallic ores.
- Objective is to strengthen international business presence and support operations in the People’s Republic of China.
20 Microns Limited has recommended a final dividend of ₹1.25 per equity share (25% of ₹5 face value) for the financial year ended March 31, 2026. The company has fixed July 17, 2026, as the record date to determine shareholder eligibility, with the payout scheduled on or before August 29, 2026. The announcement includes detailed instructions regarding Tax Deduction at Source (TDS), noting a standard 10% rate for resident shareholders with a valid PAN. Shareholders must submit relevant tax exemption documents by the specified cut-off dates to ensure appropriate withholding tax application.
- Recommended a final dividend of ₹1.25 per share (25% of ₹5 face value) for FY 2025-26.
- Fixed July 17, 2026, as the record date for determining dividend entitlement.
- Standard TDS rate of 10% for residents with valid PAN; 20% for those without valid PAN or linked Aadhaar.
- Resident individuals are exempt from TDS if the total dividend for FY 2026-27 does not exceed ₹10,000.
- Dividend payment to be completed on or before August 29, 2026, subject to AGM approval on July 31, 2026.
20 Microns reported a resilient FY26 with revenue reaching ₹954 crore, marking a 12% 5-year CAGR, while PAT grew to ₹67 crore. The company is transitioning from a traditional mineral player to a specialty materials platform, with Q4 FY26 showing a strong 21.5% sequential revenue growth. A ₹100 crore CapEx plan is underway, targeting 18% revenue CAGR and 200 bps margin expansion over the next three years. The balance sheet has significantly deleveraged, with the net debt-to-equity ratio dropping to 0.1x from 0.4x.
- FY26 Revenue reached ₹954 crore with a 5-year CAGR of 12%, while PAT grew at a 14% CAGR to ₹67 crore.
- Q4 FY26 revenue grew 14.8% YoY and 21.5% QoQ, driven by recovery in paint and polymer sectors.
- Announced a ₹100 crore CapEx plan, with 40% allocated to Malaysian operations and 60% to domestic growth.
- Net debt-to-equity ratio improved significantly to 0.1x, providing high financial flexibility for expansion.
- Management targets 18% revenue CAGR and an improvement in RoCE to 18-20% over the next three years.
20 Microns Limited delivered a resilient Q4 FY26 performance with consolidated revenue rising 14.8% YoY to ₹2,610.6 million and PAT increasing 15.6% to ₹175.9 million. The company achieved significant sequential growth of 21.5% in revenue despite a challenging environment in the paint industry. A major ₹100 crore capex plan was announced for the next two years to fund capacity expansion in India and Malaysia, alongside R&D and sustainability initiatives. Management has set an ambitious target of 18% revenue CAGR and 200-250 bps EBITDA margin expansion over the next three years.
- Q4 FY26 Revenue increased 14.8% YoY to ₹2,610.6 million; PAT grew 15.6% YoY to ₹175.9 million.
- Announced ₹100 crore Capex over 24 months for capacity expansion, mining, and AI-enabled process improvements.
- Targeting 18% Revenue CAGR and 200-250 bps EBITDA margin expansion over the next 3 years.
- Malaysia operations expansion targeting 1.08 lakh MT annual production capacity by mid-FY2028.
- Paints segment remains the largest contributor at 46% of revenue, while the rubber segment showed strong traction.
20 Microns reported a resilient Q4 FY26 with consolidated revenue growing 14.8% YoY to ₹2,610.6 million and PAT increasing 15.6% YoY to ₹175.9 million. For the full year FY26, revenue reached ₹9,538.3 million, marking a 4.5% growth despite headwinds in the paint industry. The company announced a significant ₹100 crore CAPEX program over the next two years to expand capacity in India and Malaysia. Management has set ambitious targets for the next three years, including an 18% revenue CAGR and a 200-250 bps expansion in EBITDA margins.
- Q4 FY26 Revenue grew 14.8% YoY to ₹2,610.6 Mn and PAT grew 15.6% YoY to ₹175.9 Mn.
- Announced a ₹100 crore CAPEX program for the next 24 months focusing on capacity expansion and R&D.
- Full-year FY26 revenue reached ₹9,538.3 Mn, with the company nearing the ₹1,000 crore annual milestone.
- Targets 18% Revenue CAGR and 18-20% ROCE improvement over the next 3 years.
- Paints segment remains the largest revenue contributor at 46%, while the rubber segment showed strong performance.
Financial Performance
Revenue Growth by Segment
The Paint industry remains the largest segment contributing approximately 48% of total revenue. While specific growth percentages for other segments like plastics or construction chemicals were not detailed, the consolidated revenue for Q2 FY26 stood at INR 230.78 Cr. Historical consolidated revenue grew at a CAGR of ~8.0% from FY2021 to FY2025.
Geographic Revenue Split
Domestic operations are supported by 9 plants and 13 warehouses across India. Exports contribute approximately 16.67% (one-sixth) of the total turnover, with operations extending to Malaysia through 20 Microns (Malaysia) Sdn. Bhd. and Vietnam via 20 Microns Vietnam Company Limited.
Profitability Margins
Operating margins have remained stable in the range of 12% to 14% over the last 5-6 years. Net Profit After Tax (PAT) for FY25 was INR 62.5 Cr, up from INR 56.0 Cr in FY24, representing an 11.6% increase. Q1 FY26 PAT was reported at INR 17.1 Cr.
EBITDA Margin
EBITDA improved in Q2 FY26 despite revenue pressures due to a 7.7% sequential and 5% year-on-year decline in operating expenses. Core profitability is driven by a shift toward value-added products and cost-efficiency measures in manufacturing.
Capital Expenditure
The company is investing in capacity enhancement and modernization initiatives, reflected in an increase in depreciation to INR 10.45 Cr in H1 FY26 from INR 8.57 Cr in H1 FY25. Specific total planned CAPEX in INR Cr for the full year was not disclosed.
Credit Rating & Borrowing
The company maintains a healthy credit profile with a gearing of 0.34 times and an interest coverage ratio of 6.5 times as of March 31, 2025. Bank limit utilization averaged 70% through June 2025. Specific interest rate percentages were not disclosed.
Operational Drivers
Raw Materials
Specific minerals including high-purity minerals for extraction and processing, and micronized minerals. These minerals serve as functional fillers, additives, and extenders, though the exact percentage of total cost for each specific mineral was not disclosed.
Import Sources
Raw materials are sourced from captive mines in India and through international subsidiaries, specifically Malaysia (via 20 Microns (Malaysia) Sdn. Bhd.) for high-purity mineral extraction.
Key Suppliers
Not disclosed in available documents; however, the company utilizes diversified sources and captive mining to mitigate procurement risks.
Capacity Expansion
The company operates 9 manufacturing plants and 13 warehouses across India. Recent investments in modernization and capacity enhancement are intended to support growth as demand revives in H2 FY26.
Raw Material Costs
Raw material costs are managed through alternative sourcing and manufacturing discipline. Operating expenses, which include material costs, were reduced by 5% YoY in Q2 FY26 to protect margins during a revenue-constrained environment.
Manufacturing Efficiency
Efficiency is driven by 'China plus one' positioning and structural margin focus. Operating expenses declined 7.7% sequentially in Q2 FY26, demonstrating tight control over manufacturing overheads.
Logistics & Distribution
Distribution is handled through a network of 13 warehouses. Logistics costs are optimized by maintaining a wide geographical reach to save on delivery time and costs.
Strategic Growth
Expected Growth Rate
8%
Growth Strategy
Growth will be achieved by increasing share in value-added and specialized products (20ML Nano), expanding the Malaysian subsidiary to 100% ownership to streamline mineral sourcing, and capitalizing on the 'China plus one' strategy. The company expects a demand recovery in H2 FY26 driven by the festive and wedding seasons.
Products & Services
Ultrafine industrial minerals, specialty chemicals, functional fillers, additives, and extenders used in paints, plastics, construction chemicals, rubber, and paper.
Brand Portfolio
20 Microns, 20 Microns Nano Minerals, 20 MCC, Dorfner-20 Microns.
New Products/Services
Focus on specialized micronized mineral-based chemicals through the 20 Microns Nano Minerals subsidiary. Expected revenue contribution percentage for new launches was not specifically disclosed.
Market Expansion
The company is increasing its stake in 20 Microns (Malaysia) Sdn. Bhd. from 99.9987% to 100% to consolidate international operations and mineral extraction capabilities.
Market Share & Ranking
The company is one of the largest and most prominent players in the micronized mineral industry in India with access to captive mines.
Strategic Alliances
Joint ventures and associations include Dorfner-20 Microns Private Limited, 20 MCC Private Limited, and Eriez Industries Private Limited.
External Factors
Industry Trends
The industry is shifting toward specialized, high-purity minerals and 'Nano' minerals. Current trends show a temporary slowdown in the paint sector due to weather, but a long-term growth trajectory of ~8% CAGR in the mineral processing sector.
Competitive Landscape
The company competes with both domestic and international mineral processors, maintaining its edge through value-added products and a diversified sourcing model.
Competitive Moat
Moat is built on access to captive mines, a wide distribution network (13 warehouses), and long-standing relationships with large organized players in the paint and construction industries. These advantages are sustainable due to the high capital intensity and regulatory complexity of mining.
Macro Economic Sensitivity
Highly sensitive to the performance of the Paint and Plastic industries. Q2 FY26 revenue was pressured by an extended monsoon and a delayed festive season, which deferred consumer spending on home improvement.
Consumer Behavior
Demand is seasonal, with significant upticks expected during the Indian festive and wedding seasons (H2) for paint and decorative products.
Geopolitical Risks
The company positions itself as a beneficiary of the 'China plus one' strategy, aiming to be a reliable global alternative for industrial minerals.
Regulatory & Governance
Industry Regulations
Vulnerable to changes in mining policies, environmental norms, and changes in royalties. Operations are subject to statutory requirements under both Indian and Malaysian law (for the 20ML Malaysia subsidiary).
Environmental Compliance
The company must comply with stringent government norms regarding dust production during mineral grinding. ESG principles are integrated into leadership strategies.
Taxation Policy Impact
Not disclosed in available documents; however, H1 FY26 Net Profit before Tax was INR 46.60 Cr.
Risk Analysis
Key Uncertainties
Regulatory risks in mining and environmental compliance could impact operations by up to 100% in specific sites if bans are implemented. Revenue is highly sensitive to economic cycles affecting the paint and plastic sectors.
Geographic Concentration Risk
Heavy reliance on the Indian market, although 16.67% of revenue is derived from exports.
Third Party Dependencies
While it has captive mines, the company still relies on diversified sources for specific raw materials. High dependency on the top 5 customers (50% of revenue) is a significant counterparty risk.
Technology Obsolescence Risk
The company is mitigating technology risks through modernization and investment in 'Nano' mineral technology to stay ahead of commoditization.
Credit & Counterparty Risk
Receivables quality is generally supported by dealings with large, organized players in the paint and chemical industries. Liquidity is rated as adequate with INR 80 Cr+ expected annual cash accruals.
