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Bodal Chemicals Limited (BODALCHEM)

₹166.74 +0.35% last close, 16 Oct

📊 NSE: BODALCHEM 🏢 Dyes And Pigments 📢 Latest filing: 06 Oct 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Bodal Chemicals' revenue was ₹709 Cr (+56.1% year on year, +20.6% on the previous quarter), and net profit ₹30.4 Cr (+218.7% year on year); the operating margin was 9.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹709	+56.1%	+20.6%
Operating profit	₹68.9	+44.8%	-0.1%
Net profit	₹30.4	+218.7%	-5.1%
EPS (₹)	2.41	+217.1%	-5.5%
Operating margin	9.7%	—	—

Full quarterly financials → Results calendar →

BODALCHEM exchange data

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

It closed at a price band (circuit) on 11 sessions in about the last 20.

₹166.74NSE close · +0.35%

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

Bodal Chemicals Submits Q2 FY27 Dematerialisation Compliance Certificate

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 06 Oct 2026, 04:16 PM

Bodal Chemicals Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate covers the quarter ended 30th September 2026 and was issued by its Registrar and Transfer Agent, MUFG Intime India Pvt. Ltd. (dated 03-10-2026). The document confirms that securities received for dematerialisation during the period were verified, confirmed or rejected, and mutilated according to SEBI regulations. This is a standard quarterly regulatory filing with zero financial or operational impact.

Compliance certificate filed under Regulation 74(5) for quarter ended 30th September 2026
Issued by RTA MUFG Intime India Pvt. Ltd. dated 03-10-2026
Confirmation that dematerialised security certificates were processed and listed within timelines

💡 No action is needed as this is a routine administrative filing; investors should track upcoming Q2 FY27 operational earnings results instead.

Bodal Chemicals Discloses 40th AGM Minutes; All Resolutions Passed

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Oct 2026, 12:33 PM

Bodal Chemicals submitted the minutes of its 40th Annual General Meeting held on September 25, 2026. Shareholders approved all agenda items, including the adoption of FY26 audited standalone and consolidated financial statements and the re-appointment of Director Ankit S. Patel. In addition, remuneration of Rs. 1,80,000 plus applicable taxes was ratified for the cost auditors for FY27. In the Chairman's address, the company highlighted the commissioning of its greenfield benzene derivatives facility at Saykha and the permanent decommissioning of older units at Vatva.

AGM held on September 25, 2026, with 50 members attending via video conferencing.
Adopted FY26 standalone and consolidated financial statements (FY26 revenue of Rs 2,012.65 Cr).
Approved reappointment of Executive Director Mr. Ankit S. Patel retiring by rotation.
Ratified cost auditor remuneration of Rs. 1,80,000 plus GST for FY 2026-27.
Chairman noted the successful commissioning of the Saykha greenfield plant and decommissioning of Vatva units.

💡 Track capacity ramp-up and margin contributions from the new Saykha facility in upcoming quarterly results, alongside input cost trends.

Bodal Chemicals Denies Social Media Merger Rumours as Fake and Baseless

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 14 Sep 2026, 03:01 PM

Bodal Chemicals issued a clarification under Regulation 30(11) denying social media posts claiming a merger with a private entity. The company stated that no such amalgamation is under consideration by management and confirmed it has no relation to the handles circulating the claim. The denial comes as the stock has gained 160% over the past 3 months and trades at a market cap of ₹2,163 Cr. Bodal affirmed compliance with SEBI LODR disclosure requirements and stated there is no undisclosed information.

Clarified on 14-09-2026 that claims of a merger with a private entity are completely fake and baseless
Confirmed no amalgamation is under active consideration by the company's management
Stock has seen significant run-up of 160.0% in 3 months and 295.1% in 6 months
Company reported ₹709.041 Cr in revenue and ₹30.379 Cr in PAT for the quarter ended Jun 2026

💡 Rely strictly on official exchange filings rather than social media speculation. Monitor upcoming Q2 FY27 earnings to assess fundamental performance amidst recent sharp share price gains.

Bodal Chemicals Clarifies Price and Volume Movement Is Purely Market Driven

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Sep 2026, 10:30 AM

Bodal Chemicals Limited responded to an NSE surveillance inquiry dated August 31, 2026, regarding significant movement in its share price and volume. The company confirmed that there is no undisclosed material event or impending announcement that could affect trading activity. Management affirmed full compliance with SEBI LODR Regulations and stated the price and volume behavior is purely market driven.

Exchange surveillance inquiry reference NSE/CM/Surveillance/17454 dated 31st August 2026.
Company confirmed zero undisclosed or impending material events affecting trading.
Clarified that price and volume activity is entirely market driven.

💡 Track scheduled quarterly earnings and regular business filings, as management has officially ruled out any undisclosed corporate developments driving the stock movement.

Bodal Chemicals Convenes 40th AGM on Sept 25, 2026; Recommends Nil Dividend for FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 31 Aug 2026, 04:24 PM

Bodal Chemicals Limited has issued the notice for its 40th Annual General Meeting scheduled for September 25, 2026, via video conferencing. Key agenda items include adopting the FY26 audited standalone and consolidated financial statements, re-appointing Executive Director Mr. Ankit S. Patel (who holds a 5.77% stake) retiring by rotation, and ratifying cost auditor remuneration of ₹1.80 lakh for FY27. The company confirmed that no dividend has been recommended for the fiscal year ended March 31, 2026. Register of members will remain closed from September 19 to September 25, 2026.

40th Annual General Meeting to be conducted virtually on September 25, 2026, at 12:00 PM IST
No dividend recommended by the Board of Directors for FY26
Re-appointment of Executive Director Mr. Ankit S. Patel (holding 72,61,072 shares or 5.77% stake) retiring by rotation
Approval of cost auditor remuneration of ₹1,80,000 plus GST to M/s. Kiran J. Mehta & Co. for FY27
Book closure scheduled from September 19, 2026 to September 25, 2026 (both days inclusive)

💡 Track voting outcomes post-AGM on September 25, 2026, and monitor any strategic commentary from management during the meeting regarding international operations and input cost management.

Bodal Chemicals Schedules 40th AGM for Sept 25, 2026; Sets Sept 18 Cut-Off Date

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 17 Aug 2026, 02:55 PM

Bodal Chemicals Limited has announced that its 40th Annual General Meeting (AGM) will be held on Friday, September 25, 2026, at 12:00 PM IST via Video Conferencing / Other Audio Visual Means. The company has fixed Friday, September 18, 2026, as the cut-off date for establishing shareholder voting eligibility. Remote e-voting on the CDSL platform will be available from September 22, 2026 (9:00 AM) to September 24, 2026 (5:00 PM). Furthermore, the Register of Members and Share Transfer Books will remain closed from September 19 to September 25, 2026.

40th Annual General Meeting scheduled for Friday, 25th September 2026 at 12.00 p.m. IST
Cut-off date for remote e-voting eligibility fixed as Friday, 18th September 2026
Remote e-voting opens at 9:00 AM on 22nd September 2026 and closes at 5:00 PM on 24th September 2026
Book closure period scheduled from 19th September 2026 to 25th September 2026 (both days inclusive)

💡 Shareholders holding equity shares as of the September 18, 2026 cut-off date should review the forthcoming AGM notice for key agenda items and cast their votes via CDSL e-voting.

Bodal Chemicals Sets Sep 18, 2026 Cut-off Date for 40th AGM and E-Voting

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 17 Aug 2026, 02:48 PM

Bodal Chemicals Limited has scheduled its 40th Annual General Meeting (AGM) for Friday, September 25, 2026, at 12:00 PM IST through video conferencing. The company has fixed Friday, September 18, 2026, as the cut-off date for determining shareholder eligibility for e-voting. The Register of Members and Share Transfer Books will remain closed from September 19 to September 25, 2026. Remote e-voting on the CDSL platform will be available from 9:00 AM on September 22 to 5:00 PM on September 24, 2026.

40th Annual General Meeting fixed for September 25, 2026, at 12:00 p.m. IST
Record/cut-off date for e-voting eligibility set as September 18, 2026
Share transfer books closed from September 19, 2026, to September 25, 2026
Remote e-voting active from September 22, 2026 (9:00 a.m.) to September 24, 2026 (5:00 p.m.)

💡 Shareholders seeking to vote on AGM resolutions should ensure shareholding is settled by September 18, 2026, and cast electronic votes via CDSL between September 22 and 24, 2026.

56% YoY Revenue Growth in Q1FY27; PAT Surges 218% to ₹30.4 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 05 Aug 2026, 06:42 PM

Bodal Chemicals reported a strong start to FY27 with consolidated revenue reaching ₹715.2 Cr, a 56% YoY increase. Net profit (PAT) jumped significantly by 218.7% YoY to ₹30.4 Cr, driven by improved realizations and volume growth across key segments. The newly commissioned Benzene downstream division at Saykha has begun contributing to the topline, while the Turkish subsidiary Sener Boya showed robust performance. Despite higher raw material costs linked to crude oil, the company maintained an EBITDA margin of 10.5% through effective price pass-throughs.

Consolidated Revenue grew 56% YoY to ₹7,152 mn in Q1FY27.
Profit After Tax (PAT) increased by 218.7% YoY to ₹304 mn from ₹95 mn.
Dye Intermediates segment revenue rose 44% YoY to ₹2,166 mn.
Basic Chemicals revenue surged 89% YoY to ₹839 mn, primarily due to Sulphur price increases.
Turkish subsidiary Sener Boya reported 41% revenue growth and a PAT of ₹22 mn.

💡 Investors should monitor the quarterly ramp-up and margin contribution of the new Benzene downstream division at Saykha, as well as the impact of crude oil price volatility on raw material costs.

178% YoY PAT Growth: Bodal Chemicals Reports Q1 FY27 Standalone Profit of ₹28.78 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 05 Aug 2026, 06:27 PM

Bodal Chemicals delivered a strong YoY performance for Q1 FY27, with standalone revenue rising 57% to ₹698.30 Cr compared to ₹444.85 Cr in the previous year's quarter. Standalone Net Profit surged 178% YoY to ₹28.78 Cr, although it saw a slight sequential decline from ₹30.52 Cr in Q4 FY26. The results were supported by a ₹2.57 Cr SGST incentive from the Punjab Industrial Incentive Scheme. However, the company faced a ₹1.31 Cr impact due to hyperinflationary accounting for its Turkish subsidiaries.

Standalone Revenue from operations grew 57% YoY to ₹698.30 Cr.
Standalone Net Profit increased 178% YoY to ₹28.78 Cr from ₹10.34 Cr in Q1 FY26.
Revenue includes ₹2.57 Cr SGST incentive under the Punjab Industrial Incentive Scheme.
Hyperinflation accounting in Turkey resulted in a ₹1.31 Cr debit to other expenses in consolidated results.
Standalone EPS for the quarter stood at ₹2.29, up from ₹0.82 in the same quarter last year.

💡 Investors should monitor the sustainability of these higher revenue levels and the impact of crude oil price volatility on margins. The upcoming AGM on September 25, 2026, may provide further clarity on international subsidiary performance.

Bodal Chemicals Submits Quarterly Dematerialization Certificate for June 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jul 2026, 11:05 AM

Bodal Chemicals has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, issued by the Registrar and Transfer Agent (RTA) MUFG Intime India Pvt. Ltd., confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed. The RTA verified that certificates were mutilated and cancelled, and the depositories' names were updated in the register of members. This is a standard procedural filing required for all listed entities in India.

Compliance certificate issued for the quarter ended June 30, 2026
Confirmation provided by RTA MUFG Intime India Pvt. Ltd. (formerly Link Intime)
Securities received for dematerialization were confirmed/rejected within prescribed timelines
Security certificates were mutilated and cancelled after due verification

💡 This is a routine administrative filing. Investors should monitor the company's upcoming quarterly financial results for actual business performance updates.

Bodal Chemicals Announces Trading Window Closure from July 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Jun 2026, 11:22 AM

Bodal Chemicals Limited has announced the closure of its trading window for all designated persons starting July 1, 2026. This action is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are officially declared to the exchanges. This is a procedural filing and does not reflect on the company's operational performance.

Trading window closure effective from July 1, 2026
Closure pertains to the financial results for the quarter ended June 30, 2026
Reopening of the window scheduled 48 hours after the results declaration
Applies to all Directors, concerned persons, employees, and insiders

💡 No action is required as this is a routine administrative filing. Investors should wait for the announcement of the Board Meeting date to review the Q1 FY2026-27 financial performance.

Bodal Chemicals Promoters Declare Zero Share Encumbrance for FY 2025-26

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 15 Jun 2026, 06:27 PM

Suresh J. Patel, on behalf of the promoter group of Bodal Chemicals Limited, has submitted a declaration under SEBI Takeover Regulations for the financial year ended March 31, 2026. The filing confirms that the promoters and persons acting in concert (PAC) have not made any encumbrance, directly or indirectly, on their shareholding during the period. This annual disclosure includes eight members of the promoter group, ensuring transparency regarding the status of their equity stakes. The absence of pledged shares is typically viewed as a sign of financial stability and confidence by the company's leadership.

Promoters confirmed zero encumbrances on shares for the financial year ended March 31, 2026.
Disclosure submitted under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The declaration covers 8 specific promoter group members including Suresh J. Patel and Ankit S. Patel.
Confirmation provided to both BSE and NSE as part of annual compliance requirements.

💡 Investors can take comfort in the fact that promoter shares are unencumbered, reducing the risk of forced selling or volatility due to margin calls. This supports a stable fundamental outlook for the stock.

Bodal Chemicals Promoters Declare Zero Share Encumbrance for FY 2025-26

🟢 POSITIVE ⭐ 4/10

ROUTINE 📅 26 May 2026, 11:11 AM

Suresh J. Patel, representing the promoter group of Bodal Chemicals Limited, has filed a formal declaration under SEBI Takeover Regulations for the financial year ended March 31, 2026. The disclosure confirms that the promoters and persons acting in concert (PAC) have not created any direct or indirect encumbrances or pledges on their shareholding during the period. This annual compliance filing ensures transparency regarding the status of promoter-held equity. The absence of pledged shares is generally viewed as a sign of financial stability within the promoter group.

Declaration submitted under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Promoters and PAC confirmed zero encumbrances for the entire financial year ending March 31, 2026.
The filing covers 8 specific members of the promoter group, including Suresh J. Patel, Bhavin S. Patel, and Ankit S. Patel.

💡 Investors should note this as a routine but positive confirmation that promoter shares remain unencumbered. No immediate action is required as this supports the company's stable shareholding profile.

Bodal Chemicals Confirms Unmodified Audit Opinion for FY26 Financial Results

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 21 May 2026, 04:00 PM

Bodal Chemicals Limited has officially declared that its statutory auditors, M/s. B N P S and Associates LLP, issued an unmodified opinion on the company's audited financial results for the year ended March 31, 2026. This filing serves as a correction to an inadvertent omission of the declaration in the initial results submission made on May 21, 2026. An unmodified opinion signifies that the financial statements are presented fairly and without any audit qualifications. The company confirmed there are no material changes to the financial figures previously reported.

Statutory auditors issued an unmodified opinion for both standalone and consolidated FY26 results.
The declaration follows Regulation 33(3)(d) of SEBI Listing Obligations and Disclosures Requirements.
The filing corrects an administrative omission from the initial May 21, 2026, board meeting outcome.
No material changes or adjustments were made to the previously disclosed financial performance data.

💡 This is a routine regulatory compliance update that confirms the reliability of the company's financial reporting. Investors can rely on the previously published FY26 results as they have been verified without qualification by auditors.

Bodal Chemicals FY26 PAT Surges 158% to ₹478 Million on Strong Volume Growth

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 21 May 2026, 03:19 PM

Bodal Chemicals reported a strong performance for FY26, with consolidated revenue growing 16% YoY to ₹20,539 million. The company's Net Profit (PAT) saw a massive jump of 158.5%, reaching ₹478.3 million, driven by improved volumes, better realizations, and SGST incentives from the Punjab government. While the Saykha plant's overheads and hyperinflation in Turkey impacted margins, a robust Q4 recovery in Dye Intermediates and Dyestuffs signals a positive turnaround for the core business.

Consolidated FY26 Revenue grew 16.9% YoY to ₹20,539 million.
Full-year PAT increased by 158.5% to ₹478.3 million from ₹185 million in FY25.
Q4FY26 EBITDA margins improved to 12.0% compared to 10.9% in Q4FY25.
Basic Chemicals segment revenue surged 80% YoY to ₹1,655 million in FY26.
The company successfully recognized SGST incentives for Unit 12 in Punjab, boosting profitability.

💡 Investors should focus on the company's ability to pass on raw material costs and the margin trajectory of the new Saykha benzene plant. The significant bottom-line recovery makes this a positive development for long-term shareholders.

View All BODALCHEM Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The Chemical Business is the only reportable segment. Standalone revenue for Q2 FY26 was INR 471.96 Cr, representing a 6.1% QoQ growth from INR 444.85 Cr in Q1 FY26. Consolidated revenue for Q2 FY26 was INR 480.45 Cr, up 5.8% QoQ from INR 454.20 Cr.

Geographic Revenue Split

Exports accounted for approximately 24% of total revenue in FY25, with the remaining 76% derived from domestic operations in India.

Profitability Margins

Standalone PBT margin for Q2 FY26 was 1.16% (INR 5.46 Cr), a significant decline from 3.10% (INR 13.81 Cr) in Q1 FY26. Net profitability was impacted by higher raw material consumption costs which rose to 57.0% of revenue in Q2 FY26 compared to 51.7% in Q1 FY26.

EBITDA Margin

Standalone EBITDA margin for Q2 FY26 was approximately 9.15% (INR 43.18 Cr), declining from 11.68% (INR 51.96 Cr) in Q1 FY26. The decline is primarily attributed to a 19.3% QoQ increase in raw material and inventory costs.

Capital Expenditure

Total assets as of September 30, 2025, were INR 2,312.85 Cr. Specific historical and planned CAPEX figures in INR Cr were not disclosed in the provided documents.

Credit Rating & Borrowing

Infomerics assigned a Long Term rating of IVR A-/Stable and a Short Term rating of IVR A2+ in December 2025. Proposed Commercial Paper (CP) of INR 50.00 Cr is expected to have interest rates between 7.5% and 9.5%.

⚙️ Operational Drivers

Raw Materials

Raw materials include crude oil derivatives and other chemical inputs. Cost of materials consumed and inventory changes represented 57.0% of standalone revenue (INR 269.24 Cr) in Q2 FY26.

Import Sources

Not disclosed in available documents, although the company utilizes imports to facilitate natural hedging against export revenue.

Capacity Expansion

Current installed capacity and specific planned expansion units in MT were not disclosed in the provided documents.

Raw Material Costs

Raw material costs (including inventory changes) were INR 269.24 Cr in Q2 FY26, representing 57.0% of revenue. This reflects a 19.3% increase from INR 225.70 Cr in Q1 FY26, driven by global crude oil trends.

📈 Strategic Growth

Growth Strategy

Growth is pursued through backward and forward integration in the chemical business and international expansion via 100% owned subsidiaries in Indonesia, China (Shijiazhuang), Turkey (Sener Boya), and Bangladesh (Bodal Bangla).

Products & Services

Dyes, Dye Intermediates, and Basic Chemicals.

Brand Portfolio

Bodal Chemicals.

Market Expansion

Expansion plans focus on strengthening the presence in international markets through established trading and manufacturing subsidiaries in Indonesia, China, and Turkey.

🌍 External Factors

Industry Trends

The chemical industry is currently influenced by global crude oil trends and shifting supply-demand dynamics. The industry is evolving towards integrated manufacturing models to ensure supply chain resilience and environmental compliance.

Competitive Landscape

Operates in the competitive chemical manufacturing sector; key competitors were not specifically named in the documents.

Competitive Moat

The company's moat is built on its integrated business model (backward and forward integration), which provides cost leadership and reduces dependency on external suppliers for intermediates. This is sustainable due to the high capital intensity and regulatory hurdles for new entrants.

Macro Economic Sensitivity

Highly sensitive to global crude oil price fluctuations and international trade policies affecting the chemical sector.

Geopolitical Risks

Exposure to trade barriers and regulatory shifts in key export markets and subsidiary locations including China and Turkey.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to stringent pollution control norms and environmental safety standards mandated for chemical manufacturing in India.

Environmental Compliance

BCL is exposed to environmental and regulatory compliance risks; any tightening of pollution control norms could adversely impact operations and reputation.