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AksharChem India Limited (AKSHARCHEM)

₹417.95 +1.91% last close, 16 Oct

📊 NSE: AKSHARCHEM 🏢 Dyes And Pigments 📢 Latest filing: 07 Oct 2026 📝 Analysis written: 13 Dec 2025

Q2 FY27 results

📅 Next results: 19 Oct 2026 (board meeting)

AksharChem India Limited's board meets on 19 Oct 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, AksharChem India's revenue was ₹141 Cr (+45.4% year on year, +33.3% on the previous quarter), and net profit ₹15.0 Cr; the operating margin was 16.3%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹141	+45.4%	+33.3%
Operating profit	₹23.0	+258.8%	+333.5%
Net profit	₹15.0	—	+210.2%
EPS (₹)	18.93	—	+214.5%
Operating margin	16.3%	—	—

Full quarterly financials → Results calendar →

AKSHARCHEM exchange data

NSE end-of-day data for Fri, 16 Oct 2026

It closed at a price band (circuit) on 4 sessions in about the last 20.

₹417.95NSE close · +1.91%

Circuit stocks →

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

AksharChem Submits Regulation 74(5) Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 07 Oct 2026, 10:49 AM

AksharChem India Limited has submitted its confirmation certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by its Registrar and Share Transfer Agent, MUFG Intime India Private Limited. The RTA confirmed that securities received for dematerialisation during the quarter were processed, confirmed/rejected, and mutilated within prescribed timelines. This is a recurring administrative filing and carries no financial or operational impact.

Regulation 74(5) demat compliance confirmed for quarter ended September 30, 2026
Certificate issued by RTA MUFG Intime India Private Limited on October 03, 2026
Filing submitted to BSE and NSE on October 07, 2026

💡 No action is required as this is a standard quarterly compliance filing; investors should track upcoming Q2 FY27 operational and financial results.

AksharChem Schedules 37th AGM on Sep 22, 2026; Reaffirms ₹0.50/Share Dividend Proposal

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Aug 2026, 11:42 AM

AksharChem India Limited has issued a communication letter to shareholders whose email addresses are not registered, detailing access to the FY26 Annual Report and Notice of the 37th Annual General Meeting (AGM). The 37th AGM is scheduled to take place on Tuesday, September 22, 2026. The company reiterated the Board's recommendation of a ₹0.50 per equity share (face value ₹10) dividend for FY26, subject to shareholder approval at the AGM. The notice also instructs physical shareholders to update KYC details to receive dividends electronically.

37th Annual General Meeting scheduled for Tuesday, September 22, 2026, at 12:00 p.m. IST
Proposed final dividend of ₹0.50 per equity share (face value ₹10) for FY26 pending AGM approval
Board originally recommended the dividend on May 21, 2026
Issued under Regulation 36(1)(b) of SEBI LODR Regulations for members with unregistered email IDs

💡 Shareholders holding physical shares must submit KYC forms (ISR-1/2/3, SH-13/14) to the RTA to receive dividend payouts electronically; track AGM voting outcomes post September 22, 2026.

AksharChem Sets Sep 15, 2026 as Record Date for Final Dividend of ₹0.50/Share

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 29 Aug 2026, 11:40 AM

AksharChem India Limited has fixed Tuesday, September 15, 2026, as the record date to determine shareholder entitlement for a final dividend of ₹0.50 per equity share (5% on face value of ₹10) for FY 2025-26. The dividend is subject to shareholder approval at the Annual General Meeting scheduled for September 22, 2026. Upon approval, payment will be completed within 30 days from declaration. Based on the current stock price of ₹348.9, the dividend yields approximately 0.14%.

Record date fixed as September 15, 2026 for FY 2025-26 final dividend
Final dividend recommended at ₹0.50 per share (5% of ₹10 face value)
Annual General Meeting scheduled for Tuesday, September 22, 2026
Dividend to be disbursed within 30 days following approval at the AGM

💡 Investors tracking dividend eligibility must hold shares prior to the ex-date ahead of September 15, 2026, and monitor AGM voting outcomes on September 22, 2026.

AksharChem Issues Notice for 37th AGM on Sept 22, 2026; Fixes Sept 15 Record Date for Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Aug 2026, 11:29 AM

AksharChem (India) Limited has released the notice convening its 37th Annual General Meeting (AGM) on Tuesday, September 22, 2026. The company has fixed Tuesday, September 15, 2026, as the record date for determining shareholder entitlement to the final dividend for FY26, as well as the cut-off date for remote e-voting. Remote e-voting is scheduled from September 18, 2026 to September 21, 2026. Key agenda items include the adoption of FY26 financial results, declaration of dividend, and director re-appointments.

37th AGM scheduled to be held on September 22, 2026 at 12:00 PM IST at the Registered Office in Indrad, Mahesana, Gujarat
Record date for FY26 final dividend and e-voting cut-off date fixed as September 15, 2026
Remote e-voting window runs from September 18, 2026 (09:00 AM IST) to September 21, 2026 (05:00 PM IST)
Ordinary business includes re-appointment of Mrs. Paru M. Jaykrishna and Mr. Sachin M. Jaykrishna as directors retiring by rotation
Special business includes ratification of Rs 45,000 remuneration plus taxes/expenses for Cost Auditor M/s. M. I. Prajapati & Associates LLP

💡 Shareholders seeking dividend eligibility and voting rights must hold shares as of the September 15, 2026 record date; tax deduction (TDS) documents must be submitted by September 11, 2026.

AksharChem Q1 PAT Surges to ₹15.21 Cr; Revenue Grows 45% YoY with New Solar Plant

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Aug 2026, 05:39 PM

AksharChem India reported a significant turnaround in Q1 FY27, with revenue from operations rising 45.3% YoY to ₹140.87 Cr. Net profit surged to ₹15.21 Cr from just ₹0.71 Cr in the year-ago period, resulting in a quarterly EPS of ₹18.94, which already exceeds the previous TTM EPS of ₹12.68. The company also successfully commissioned a 2.40 MWp captive solar power plant in April 2026 to optimize energy costs. This performance marks a sharp recovery from the marginal losses and operational disruptions seen in FY25-26.

Revenue from operations increased 45.3% YoY to ₹140.87 Cr from ₹96.96 Cr.
Net Profit (PAT) jumped to ₹15.21 Cr compared to ₹0.71 Cr in Q1 FY26.
Commissioned a 2.40 MWp (DC) solar power plant on April 24, 2026, involving a ₹6.97 Cr investment.
Quarterly EPS of ₹18.94 is significantly higher than the full-year FY26 EPS of -₹0.55.
Inventory changes provided a positive swing of ₹20.97 Cr (credit) to the P&L this quarter.

💡 Investors should monitor if the current revenue run-rate of ~₹140 Cr per quarter is sustainable, as it represents a massive jump over historical averages. Additionally, track the reduction in 'Power & Fuel' expenses in subsequent quarters following the solar plant commissioning.

₹15.21 Cr Net Profit: AksharChem Reports Massive Q1 Turnaround; Revenue Up 45% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Aug 2026, 05:37 PM

AksharChem India reported a stellar Q1 FY27, with revenue jumping 45.3% YoY to ₹140.87 Cr. Net profit surged to ₹15.21 Cr from just ₹0.71 Cr in the year-ago period, marking a significant operational turnaround. This single quarter's revenue represents approximately 75% of the company's previous TTM revenue of ₹188 Cr, indicating a major scale-up in business activity. Additionally, the company commissioned a 2.40 MWp captive solar plant in April 2026 to optimize power costs.

Revenue from operations grew 45.3% YoY to ₹140.87 Cr from ₹96.96 Cr.
Net Profit surged to ₹15.21 Cr, a massive jump from ₹0.71 Cr in Q1 FY26.
Quarterly EPS reached ₹18.94, nearly matching the full-year FY16 EPS of ₹22.74 in just three months.
Commissioned a 2.40 MWp solar power plant for ₹6.97 Cr for captive consumption at the Dahej unit.
Operating margins improved significantly as Profit Before Tax reached ₹15.95 Cr vs a loss of ₹1.00 Cr in the preceding quarter (Mar 2026).

💡 Investors should monitor the sustainability of this high revenue run-rate in upcoming quarters to determine if it represents a structural shift or a one-time volume surge. The impact of the new solar plant on power and fuel expenses (which stood at ₹18.18 Cr this quarter) will be a key metric for margin expansion.

Retirement of General Manager (Accounts) Sunil Rane effective August 11, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 11 Aug 2026, 12:10 PM

AksharChem India Limited has announced the retirement of Mr. Sunil Rane, General Manager (Accounts), effective from the close of business hours on August 11, 2026. Mr. Rane was designated as Senior Management Personnel (SMP) within the company. This is a routine administrative change due to retirement rather than a resignation. Given the company's small-cap size (₹196 Cr market cap), such transitions in the accounting department are standard procedural matters.

Mr. Sunil Rane retired as General Manager (Accounts) effective August 11, 2026.
The retirement was effective from the closure of business hours on the date of announcement.
The filing was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
AksharChem reported a TTM revenue of ₹188 Cr and a net worth of ₹262 Cr as per latest context.

💡 Monitor future filings for the appointment of a new General Manager (Accounts) to ensure continuity in the company's financial reporting and internal control systems.

74(5) Regulation: AksharChem Submits Quarterly Dematerialization Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jul 2026, 10:59 AM

AksharChem India Limited has submitted its quarterly compliance certificate for the period ending June 30, 2026. The certificate, issued by MUFG Intime India Private Limited, confirms that securities received for dematerialization were processed within prescribed timelines. It verifies that physical certificates were mutilated and cancelled after due verification by depository participants. This filing is a routine administrative requirement under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018.

Reporting for the quarter ended June 30, 2026
Compliance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
Confirmation provided by RTA MUFG Intime India Private Limited on July 01, 2026

💡 This is a routine regulatory filing with no impact on business fundamentals. Investors should monitor the upcoming Q1 FY27 earnings report for operational updates.

AksharChem Shareholders Approve Appointment of Devalkumar Suthar as Whole Time Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 01 Jul 2026, 09:53 AM

Shareholders of AksharChem India Limited have approved the appointment of Mr. Devalkumar Indrabal Suthar as Whole Time Director (Executive) through a special resolution. The resolution passed with an overwhelming 99.99% of votes in favor, following a postal ballot process conducted in June 2026. Total votes polled amounted to 5,051,982, representing approximately 62.89% of the total equity. This leadership addition occurs as the company targets a 23% growth rate and navigates recovery from recent quarterly losses.

Special Resolution for the appointment of Whole Time Director passed with 99.99% votes in favor (5,051,506 votes).
Total voter turnout was 62.89% of the 8,033,099 total shares held.
Promoter group participation was 100%, casting all 5,036,537 of their eligible votes.
Public non-institutional participation remained low at 0.52%, with only 15,445 votes cast out of 2,992,062 shares.
The voting process involved 11,985 total shareholders as of the record date, May 22, 2026.

💡 Investors should monitor future quarterly results to see if the strengthened management team can improve operational efficiency and address the plant stoppage issues that impacted FY25 margins.

AksharChem India Announces Trading Window Closure from July 1, 2026 for Q1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Jun 2026, 10:26 AM

AksharChem India Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the declaration of the unaudited financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be announced later.

Trading window closes on July 1, 2026, for the quarter ending June 30, 2026.
Closure applies to all Designated Persons and their immediate relatives.
Window reopens 48 hours after the announcement of Q1 financial results.
Date of the Board meeting for results approval is yet to be determined.

💡 This is a routine regulatory filing with no immediate impact on stock fundamentals. Investors should wait for the upcoming Q1 results announcement to assess the company's performance.

AksharChem Commissions 2.4 MWp Solar Power Plant for Captive Use in Gujarat

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 20 Jun 2026, 07:46 PM

AksharChem India Limited has successfully commissioned a 2.4 MWp (DC) / 1.75 MWp (AC) ground-mounted solar power plant in Bharuch, Gujarat. The facility is dedicated to captive consumption for the company's manufacturing unit located at Dahej. Power generation officially commenced on April 24, 2026, following certification from the Gujarat Energy Development Agency (GEDA). This initiative is expected to reduce operational energy costs and strengthen the company's ESG profile.

Commissioned a 2.4 MWp (DC) / 1.75 MWp (AC) ground-mounted solar power plant at Village Sardarpura, Bharuch.
The plant provides captive power to the company's factory located at Dahej, Gujarat.
Power generation started effective April 24, 2026, as per GEDA certification received on June 20, 2026.
The project aims to enhance the renewable energy portfolio and contribute to sustainable power generation.

💡 Investors should monitor the impact on power and fuel costs in upcoming quarterly results, as captive solar power typically improves operating margins. This move also strengthens the company's long-term sustainability and ESG standing.

AksharChem Seeks Approval to Appoint Devalkumar Suthar as Whole Time Director for 3 Years

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 29 May 2026, 04:06 PM

AksharChem India Limited has issued a Postal Ballot notice to seek shareholder approval for the appointment of Mr. Devalkumar Indrabal Suthar as a Whole Time Director (Executive). The proposed tenure is for three years, effective from May 21, 2026, through May 20, 2029. The company is seeking approval via a Special Resolution, which includes provisions for remuneration even in the event of loss or inadequacy of profits. Shareholders registered as of the cut-off date of May 22, 2026, are eligible to participate in the e-voting process.

Proposed appointment of Mr. Devalkumar Indrabal Suthar as Whole Time Director for a 3-year term starting May 21, 2026.
Special Resolution required for approval, including remuneration terms under Schedule V of the Companies Act.
E-voting period is scheduled to commence on June 1, 2026, and conclude on June 30, 2026.
The cut-off date for determining shareholder eligibility for voting was May 22, 2026.
Mr. Suthar was previously appointed as an Additional Director by the Board effective May 21, 2026.

💡 Shareholders should review the appointee's background and the proposed remuneration structure before casting their votes via the NSDL e-voting platform. This is a routine governance matter and does not necessitate any immediate change in investment stance.

AksharChem FY26 Revenue Rises to ₹372 Cr; Board Recommends ₹0.50 Dividend

🔵 WATCH ⭐ 7/10

EARNINGS 📅 21 May 2026, 06:47 PM

AksharChem India Limited reported a 7.5% year-on-year increase in annual revenue to ₹37,243 lakhs for FY26. While the company faced a net loss of ₹43.86 lakhs for the full year compared to a profit of ₹477.04 lakhs in FY25, the fourth quarter showed a strong recovery with a net profit of ₹483.50 lakhs. The board has recommended a final dividend of ₹0.50 per share (5%) for FY26. Additionally, the company announced a leadership transition with the appointment of Mr. Devalkumar Indrabal Suthar as a Whole Time Director following the resignation of Mr. Ashok Barot.

Annual revenue from operations grew to ₹37,243 lakhs in FY26 from ₹34,626 lakhs in FY25.
Q4 FY26 net profit surged to ₹483.50 lakhs compared to ₹138.71 lakhs in the same quarter last year.
Recommended a final dividend of ₹0.50 per equity share of face value ₹10 each.
Full-year performance was impacted by an exceptional item of ₹169.61 lakhs related to fire insurance claims.
Management transition: Mr. Devalkumar Indrabal Suthar appointed as Additional Director (Whole Time) for 3 years.

💡 Investors should focus on the strong Q4 recovery which suggests an operational turnaround despite the marginal annual loss. Monitor the impact of the leadership change and the stabilization of margins in the upcoming quarters.

AksharChem Reports FY26 Revenue of ₹372 Cr, Recommends ₹0.50 Dividend Amidst Annual Net Loss

🟡 NEUTRAL ⭐ 8/10

EARNINGS 📅 21 May 2026, 06:45 PM

AksharChem India reported a 7.5% year-on-year growth in annual revenue to ₹37,243 lakhs for FY26. However, the company shifted from a net profit of ₹477.04 lakhs in FY25 to a net loss of ₹43.86 lakhs in FY26, primarily due to higher operational costs and finance charges. Despite the annual loss, the Board has recommended a final dividend of ₹0.50 per share. Management changes were also announced, with Mr. Devalkumar Indrabal Suthar appointed as a Whole Time Director.

Annual revenue from operations increased to ₹37,243 lakhs in FY26 from ₹34,626.52 lakhs in FY25.
Reported a consolidated net loss of ₹43.86 lakhs for FY26 compared to a profit of ₹477.04 lakhs in the previous year.
Recommended a final dividend of ₹0.50 per equity share (5% of face value of ₹10).
Finance costs rose significantly to ₹681.62 lakhs in FY26 from ₹526.04 lakhs in FY25.
Appointed Mr. Devalkumar Indrabal Suthar as Whole Time Director for a three-year term effective May 21, 2026.

💡 Investors should monitor the company's margins as rising finance and operational costs have led to an annual loss despite revenue growth. The impact of the newly commissioned solar power plant on future power costs should be watched closely.

AksharChem Q4 Profit Jumps to ₹4.83 Cr; FY26 Loss at ₹0.44 Cr; ₹0.50 Dividend Declared

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 21 May 2026, 06:44 PM

AksharChem India reported a strong Q4 FY26 with a net profit of ₹4.83 crore, a significant increase from ₹1.39 crore in the previous year's corresponding quarter. Total revenue for Q4 grew to ₹105.79 crore compared to ₹90.74 crore YoY. However, the company ended the full financial year 2025-26 with a net loss of ₹0.44 crore, largely due to an exceptional fire-related loss of ₹1.70 crore. The board has recommended a final dividend of ₹0.50 per share and announced the appointment of Mr. Devalkumar Indrabal Suthar as Executive Director.

Q4 FY26 revenue increased by 16.6% YoY to ₹105.79 crore.
Net profit for Q4 FY26 rose to ₹4.83 crore vs ₹1.39 crore in Q4 FY25.
Full-year FY26 recorded a net loss of ₹0.44 crore compared to a profit of ₹4.77 crore in FY25.
Recommended a final dividend of ₹0.50 per equity share (5% of face value).
Appointment of Mr. Devalkumar Indrabal Suthar as Executive Director for 3 years effective May 21, 2026.

💡 Investors should note the strong recovery in Q4 margins but remain cautious regarding the full-year loss and the impact of exceptional items like the fire incident. Monitor if the revenue growth and profitability seen in Q4 can be sustained in the upcoming quarters.

View All AKSHARCHEM Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue for H1 FY26 was INR 186.26 Cr. For FY25, revenue was INR 302.05 Cr, representing a decline of 12.77% compared to INR 346.27 Cr in FY24. Segment-specific growth percentages are not disclosed in the available documents.

Profitability Margins

Operating Margin Ratio was 12% in FY25, down from 16% in FY24. Net Profit Margin (PBT) was -5.20% in FY25 compared to 1.41% in FY24. H1 FY26 recorded a PBT loss of INR 0.37 Cr.

EBITDA Margin

Operating margin ratio stood at 12% for FY25, a 25% decrease from the 16% margin achieved in FY24. Historical EBITDA margin in Q1 FY20 was 8.3%.

Capital Expenditure

Non-current assets increased by INR 9.44 Cr during H1 FY26, rising from INR 280.89 Cr in March 2025 to INR 290.33 Cr in September 2025.

Credit Rating & Borrowing

Rating sensitivity factors include maintaining a PBILDT margin above 15% and ROCE above 15% for a positive rating action. A sustained margin below 8% or gearing beyond 0.75x would lead to a negative rating action.

⚙️ Operational Drivers

Raw Materials

Chemical intermediates for Pigment Green 7 and Precipitated Silica. Specific chemical names and their percentage of total cost are not disclosed.

Capacity Expansion

Historical volume was 2,643 MT in Q1 FY20. Current installed capacity and specific expansion timelines are not disclosed in the provided documents.

Raw Material Costs

Raw material costs were INR 44.0 Cr in Q1 FY20, representing approximately 62.7% of revenue. Management notes volatility in raw material prices as a key risk to PBILDT margins.

Manufacturing Efficiency

Partial stoppage of plant operations in FY25 resulted in minimum operating margins and an inability to cover fixed overheads, leading to a negative bottom line.

📈 Strategic Growth

Expected Growth Rate

23%

Growth Strategy

Growth is driven by innovation in products and processes, focusing on Pigment Green 7 and Precipitated Silica. The company emphasizes human resource development through quarterly motivational programs and knowledge sharing to improve work quality and operational conclusions.

Products & Services

Pigment Green 7 (used in inks, plastics, and coatings) and Precipitated Silica (used in rubber, tires, and toothpaste).

Brand Portfolio

Aksharchem, Asaflow (Pigment Green 7), and Aksil (Precipitated Silica).

🌍 External Factors

Industry Trends

The industry experienced prolonged sluggishness in demand, though management noted signs of improvement in the latter half of FY25. The sector is evolving through innovation in chemical processes.

Competitive Landscape

Key competitors are not named, but the landscape is characterized by price volatility and demand fluctuations from end-user industries.

Competitive Moat

Moat is based on trademarked brands (Asaflow, Aksil) and innovation-led product differentiation in the Pigment Green 7 and Precipitated Silica segments.

Macro Economic Sensitivity

Demand is highly sensitive to the broader economy; a slowdown led to a reduction in demand from end-user industries, impacting volumes by 12.6% in historical periods.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to SEBI Listing Regulations and Indian Accounting Standards (IND AS 34). Specific manufacturing or pollution norms are not detailed.

Taxation Policy Impact

The company recorded a deferred tax credit of INR 3.12 Cr in FY25. H1 FY26 tax expense was INR 0.29 Cr.

⚠️ Risk Analysis

Key Uncertainties

Volatility in raw material prices and foreign exchange rates are the primary uncertainties, with the potential to swing PBILDT margins by over 7% based on historical rating sensitivities.