Chemcon Speciality Chemicals Limited (CHEMCON)
₹197.61 -2.31% last close, 23 Oct
Q2 FY27 results
📅 Next results: 24 Oct 2026 (board meeting)Chemcon Speciality Chemicals Limited's board meets on 24 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q4 FY26, Chemcon Speciality's revenue was ₹75.4 Cr (+37.4% year on year, +31.6% on the previous quarter), and net profit ₹6.4 Cr (+61.3% year on year); the operating margin was 11.8%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹75.4 | +37.4% | +31.6% |
| Operating profit | ₹8.9 | +53.4% | +33.3% |
| Net profit | ₹6.4 | +61.3% | +25.1% |
| EPS (₹) | 1.74 | +61.1% | +25.2% |
| Operating margin | 11.8% | — | — |
CHEMCON delivery percentage
NSE end-of-day data for
On Fri, 23 Oct 2026, 53.01% of the CHEMCON shares traded on NSE were taken to delivery, against the stock's own 20-session average of 57.76%. That is close to its usual level. Turnover was only ₹83 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 52.8% · 54.4% · 63.8% · 54.4% · 53.0%
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
Chemcon Speciality Chemicals 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 certificate was issued by its Registrar and Share Transfer Agent, MUFG Intime India Private Limited. The RTA confirmed that dematerialisation requests received during the quarter were duly processed, verified, and cancelled within prescribed timelines. This is a routine quarterly secretarial filing with no impact on business operations or financials.
- Compliance certificate filed pursuant to Regulation 74(5) of SEBI Regulations, 2018
- Confirmation covers the quarter ended September 30, 2026
- Certificate issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 03, 2026
- Filing submitted to BSE and NSE on October 15, 2026
Chemcon Speciality Chemicals has announced a virtual group meeting with investors and analysts scheduled for September 23, 2026, starting at 4:00 PM IST. The company stated that interactions will strictly rely on publicly available information and no unpublished price sensitive information (UPSI) will be discussed. Chemcon operates with an annual revenue of Rs 240 Cr and a market cap of Rs 793 Cr, and this announcement is a routine investor interaction under Regulation 30(6) of SEBI LODR.
- Virtual group meeting scheduled for September 23, 2026
- Meeting start time fixed at 4:00 pm onwards
- No unpublished price sensitive information (UPSI) to be shared
- Filed pursuant to Regulation 30(6) of SEBI LODR Regulations, 2015
Chemcon Speciality Chemicals conducted its 37th Annual General Meeting on September 17, 2026, via video conferencing with 48 members attending. Shareholders voted on three ordinary resolutions: adoption of FY26 financial statements, re-appointment of retiring director Rajesh Chimanlal Gandhi, and ratification of Cost Auditor remuneration for FY27. All resolutions were transacted via remote e-voting and e-voting at the meeting. Scrutinizer's detailed voting results will be declared and submitted separately.
- 37th Annual General Meeting held on September 17, 2026
- 48 members attended the meeting through video conferencing
- 3 ordinary resolutions considered, including FY26 financial adoption and director re-appointment
- Auditor's Report and Secretarial Auditor's Report contained zero adverse remarks or qualifications
Chemcon Speciality Chemicals conducted its 37th Annual General Meeting on September 17, 2026, via video conferencing with 48 members attending. The ordinary business included the adoption of audited financial statements for FY26 (TTM revenue Rs 240 Cr, PAT Rs 24 Cr) and the reappointment of retiring director Rajesh Chimanlal Gandhi. Additionally, shareholders considered the ratification of cost auditor remuneration for FY27. All items were put to remote e-voting, and formal scrutinizer voting results will be disseminated separately.
- 37th Annual General Meeting conducted on September 17, 2026
- Total of 48 members attended the meeting via video conferencing
- 3 resolutions tabled covering adoption of FY26 financials, director reappointment, and cost auditor remuneration
- Meeting commenced at 11:30 a.m. and proceedings completed at 11:55 a.m. IST
Chemcon Speciality Chemicals held its 37th Annual General Meeting on September 17, 2026, through video conferencing with 48 members attending. The meeting considered three ordinary resolutions: adoption of the FY26 audited financial statements, the reappointment of retiring director Mr. Rajesh Chimanlal Gandhi, and ratification of cost auditors' remuneration for FY27. No qualifications or adverse remarks were present in the Statutory or Secretarial Auditor's reports. Voting results will be disclosed separately upon receipt of the scrutinizer's report.
- 37th Annual General Meeting conducted on September 17, 2026, between 11:30 am and 11:55 am
- A total of 48 members attended the meeting through video conferencing
- 3 resolutions addressed: FY26 financial statements adoption, director reappointment, and cost auditor remuneration
- Auditors' reports contained 0 adverse remarks, qualifications, or disclaimers
Chemcon Speciality Chemicals has issued the notice for its 37th Annual General Meeting scheduled for September 17, 2026, via video conferencing. Key agenda items include the adoption of FY26 audited financial statements and the re-appointment of retiring Whole-time Director Rajesh Chimanlal Gandhi. Shareholders will also vote on ratifying a remuneration of ₹85,000 for Cost Auditor M/s Chetan Gandhi & Associates for FY27.
- 37th Annual General Meeting scheduled for Thursday, September 17, 2026, at 11:30 AM IST via Video Conferencing
- Approval sought for the re-appointment of Whole-time Director Rajesh Chimanlal Gandhi, who drew ₹48.60 Lakhs in remuneration during FY26
- Ratification of ₹85,000 remuneration plus out-of-pocket expenses for Cost Auditors M/s Chetan Gandhi & Associates for FY27
Chemcon Speciality Chemicals reported a strong start to FY27, with Q1 revenue growing 24% YoY to ₹66.5 crore. Profitability saw a significant surge as PAT rose 72% YoY to ₹11 crore, driven by a sharp expansion in EBITDA margins from 14.5% to 23.2%. The performance was bolstered by improved realizations in the Organic Chemicals segment, which now contributes 74% of total revenue. The company continues to leverage its dominant position as the only Indian manufacturer of HMDS and the world's largest producer of CMIC.
- Q1 FY27 Revenue increased 24% YoY to ₹66.5 crore, representing approximately 28% of total FY26 revenue.
- EBITDA grew 98% YoY to ₹15.4 crore, with margins expanding significantly to 23.2% from 14.5% in the previous year.
- Organic Chemicals segment (HMDS, CMIC, etc.) dominated the mix, contributing 74% of revenue in Q1 FY27.
- Exports, including deemed exports, accounted for 69% of total revenue, up from 41% in FY26.
- The company maintains a strong market position as the 3rd largest global manufacturer of HMDS and the largest for CMIC.
Chemcon Speciality Chemicals has announced its 37th Annual General Meeting (AGM) will be held on September 17, 2026, via video conferencing. The company has fixed September 10, 2026, as the cut-off date to determine shareholder eligibility for electronic voting. This is a standard procedural filing following the conclusion of FY26, where the company reported a revenue of Rs 240 Cr and a PAT of Rs 23.6 Cr. Investors should look for the detailed AGM notice for specific resolutions regarding dividends or management updates.
- 37th Annual General Meeting scheduled for September 17, 2026, at 11:30 a.m. IST
- Cut-off date for determining voting eligibility fixed as September 10, 2026
- Meeting to be conducted through Video Conferencing (VC) or Other Audio-Visual Means (OAVM)
- Company reported TTM revenue of Rs 240 Cr and OPM of 12.6% leading up to this meeting
Chemcon Speciality Chemicals reported a strong year-on-year performance for Q1 FY27, with Net Profit rising 71.5% to ₹10.96 Cr from ₹6.39 Cr in Q1 FY26. Revenue from operations grew 24.2% YoY to ₹66.49 Cr, although it saw a sequential decline of 11.8% from the preceding March quarter. Profitability improved significantly with EPS rising to ₹2.99 compared to ₹1.74 in the year-ago period. The company has scheduled its 37th Annual General Meeting for September 17, 2026.
- Net Profit increased by 71.5% YoY to ₹10.96 Cr in Q1 FY27.
- Revenue from operations grew 24.2% YoY to ₹66.49 Cr.
- Earnings Per Share (EPS) improved to ₹2.99 from ₹1.74 in Q1 FY26.
- Total expenses for the quarter were ₹55.66 Cr, with raw material costs accounting for ₹42.27 Cr.
- The 37th AGM is scheduled for September 17, 2026, with a cut-off date of September 10, 2026, for e-voting.
Chemcon Speciality Chemicals has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, provided by MUFG Intime India Private Limited, confirms that all share certificates received for dematerialization during the quarter ended June 30, 2026, were processed and the register of members updated. This is a standard administrative procedure for listed entities and has no impact on the company's financial health or business strategy.
- Compliance certificate issued for the quarter ended June 30, 2026
- Confirmation provided by Registrar MUFG Intime India Private Limited
- Verification and cancellation of physical certificates completed within prescribed timelines
- Confirmation that dematerialized securities are listed on relevant stock exchanges
CRISIL has reaffirmed Chemcon Speciality Chemicals Limited's long-term credit rating at 'CRISIL BBB+/Stable' for its bank loan facilities totaling Rs 53 crore. This rating covers the company's entire debt profile, which is relatively low with a Debt-to-Equity ratio of 0.11 based on a net worth of Rs 484 crore. The reaffirmation indicates a stable credit outlook despite the company's exposure to volatile raw material costs and high working capital intensity. Chemcon maintains its position as the sole Indian manufacturer of HMDS, which supports its business profile in the pharmaceutical and oil sectors.
- Total bank loan facilities reviewed and rated at Rs 53 crore
- Long-term credit rating reaffirmed at CRISIL BBB+/Stable
- Company maintains a low Debt-to-Equity ratio of 0.11 against a net worth of Rs 484 crore
- TTM revenue stands at Rs 240 crore with an operating profit margin of 12.6%
- The rated debt of Rs 53 crore represents approximately 22% of TTM revenue
Chemcon Speciality Chemicals 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 announcement 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 communicated at a later stage.
- Trading window closure commences on July 1, 2026, for the Q1 FY26-27 reporting period.
- The restriction applies to all designated persons and their immediate relatives as per the company's Code of Conduct.
- The window will reopen 48 hours after the declaration of the Unaudited Financial Results for the quarter ended June 30, 2026.
- The date for the Board Meeting to approve the financial results is yet to be announced.
Promoters of Chemcon Speciality Chemicals Limited have submitted their annual declaration under Regulation 31(4) of the SEBI (SAST) Regulations for the financial year ending March 31, 2026. Key promoters, including Kamalkumar Rajendra Aggarwal and Navdeep Naresh Goyal, confirmed that they, along with persons acting in concert, have not created any new encumbrances or pledges on their shareholding during the period. This is a routine compliance filing intended to provide transparency regarding the status of promoter-held shares. The filing confirms that the promoter group's share status remains consistent with previous disclosures.
- Annual declaration submitted under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- Promoters confirmed no new direct or indirect encumbrances were made on company shares during FY 2025-26.
- Declarations were provided by major promoters including Kamalkumar Rajendra Aggarwal, Navdeep Naresh Goyal, and Shubharangana Naresh Goyal.
- The disclosure covers the entire financial year ending March 31, 2026, as per mandatory regulatory requirements.
Promoters of Chemcon Speciality Chemicals Limited have submitted their annual declaration under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing confirms that the promoters, along with Persons Acting in Concert (PAC), have not created any new encumbrances or pledges on their shareholding during the financial year ending March 31, 2026. This disclosure includes individual declarations from key promoters Kamalkumar Rajendra Aggarwal, Navdeep Naresh Goyal, and Shubharangana Naresh Goyal, ensuring transparency regarding the status of their holdings.
- Compliance with Regulation 31(4) of SEBI (SAST) Regulations, 2011 for the financial year ending March 31, 2026.
- Promoters confirmed no new direct or indirect encumbrances were made on company shares during the period.
- Declarations submitted by major promoters including Kamalkumar Rajendra Aggarwal and the Goyal family.
- The filing serves as a routine annual confirmation of stable promoter shareholding status.
Chemcon Speciality Chemicals reported a robust Q4FY26 with revenue increasing 37% YoY to ₹75.4 crore and PAT rising 61% to ₹6.4 crore. While full-year FY26 PAT saw a marginal decline of 3% to ₹23.6 crore due to pricing pressures, the company demonstrated strong sequential recovery. The strategic acquisition of Shivam Petrochem Industries for ₹36 crore is expected to diversify the product portfolio into bulk drugs and intermediates. Management highlights encouraging responses for new products like Bromobenzene and 2-Bromo.
- Q4FY26 Revenue rose 37% YoY to ₹75.4 crore with EBITDA margins improving to 11.8%.
- Full-year FY26 revenue grew 16% to ₹240 crore, though EBITDA fell 8% to ₹30.2 crore.
- Completed ₹36 crore acquisition of Shivam Petrochem Industries to expand into new chemical intermediates.
- Organic chemicals volume grew significantly to 1,972 MT in Q4FY26 from 1,024 MT in Q4FY25.
- Exports (including deemed) contributed 41% to the total FY26 revenue mix.
Financial Performance
Revenue Growth by Segment
Revenue from operations declined by 22.35% YoY, falling from INR 267.09 Cr in FY24 to INR 207.40 Cr in FY25. The business is split into Organic and Inorganic Chemicals, with revenue remaining range-bound between INR 250-300 Cr over the last six fiscals due to cyclicality in the chemical industry.
Geographic Revenue Split
Exports contributed 37% of total revenue in the first nine months of FY25, a decrease from 59% in FY23. This shift indicates a higher reliance on the domestic pharmaceutical and oil exploration markets, which now account for approximately 63% of the revenue mix.
Profitability Margins
Net profit margin improved significantly as the company reported a profit of INR 24.45 Cr in FY25 compared to INR 19.19 Cr in FY24, representing a 27.41% increase despite lower revenues. This was driven by a reduction in the cost of materials consumed, which dropped by 42.65% YoY to INR 117.08 Cr.
EBITDA Margin
Operating margins fluctuated significantly, reaching 17.65% in the first nine months of FY25, up from 10.22% in FY24. The margin is expected to stabilize above 15% over the medium term as the company diversifies its product portfolio and enters new markets to mitigate raw material price volatility.
Capital Expenditure
The company operates 9 manufacturing plants and 6 owned warehouses. While specific future INR Cr figures for expansion are not disclosed, the company has historically maintained a robust asset base to support its position as the only manufacturer of HMDS in India.
Credit Rating & Borrowing
The company holds a 'CRISIL BBB+/Stable' rating, recently revised from 'Negative' in April 2025. Borrowing costs are minimal as debt primarily consists of fixed deposit-backed overdrafts and negligible term loans, resulting in a healthy interest coverage ratio of 11.93 times as of September 2024.
Operational Drivers
Raw Materials
Key raw materials include crude oil derivatives and chemical intermediates, which are highly sensitive to global price fluctuations. Cost of materials consumed represented 56.45% of total revenue in FY25, down from 76.43% in FY24.
Capacity Expansion
Currently operates 9 operational plants and 6 owned warehouses. The company is the 3rd largest manufacturer of HMDS worldwide and the only producer in India, providing a significant competitive advantage in domestic supply chains.
Raw Material Costs
Raw material costs stood at INR 117.08 Cr in FY25. The company faces a lag in passing on price increases to customers, which caused operating margins to fluctuate from 32.44% in FY22 to 9.72% in Q1FY24 before recovering to 17.65% in FY25.
Manufacturing Efficiency
Manufacturing efficiency is reflected in the ability to maintain a strong market position in specialized products like CMIC and HMDS despite intense competition from large global players who control 50% of the market.
Strategic Growth
Expected Growth Rate
15%
Growth Strategy
Growth will be achieved through product diversification beyond its core HMDS and CMIC lines and expansion into new international markets. The company aims to leverage its position as a reliable supplier to the pharmaceutical and oil industries to stabilize revenue between INR 250-300 Cr.
Products & Services
Hexamethyl Disiliazane (HMDS), Chloromethyl Isopropyl Carbonate (CMIC), and various Bromides used in pharmaceutical synthesis and oil exploration.
Brand Portfolio
Chemcon Speciality Chemicals.
New Products/Services
The company is focusing on product diversification to reduce cyclicality, though specific new product names and their % contribution are not detailed.
Market Expansion
Targeting new export markets to return to the 50-60% export revenue contribution level seen in previous years.
Market Share & Ranking
Only manufacturer of HMDS in India and the 3rd largest manufacturer of HMDS worldwide.
External Factors
Industry Trends
The speciality chemicals industry is evolving towards higher regulatory scrutiny and environmental compliance. Chemcon is positioned as a niche player in the HMDS and CMIC segments, benefiting from the 'Make in India' trend as the sole domestic producer.
Competitive Landscape
Intensely competitive industry dominated by large players who hold 50% of the market share, putting pressure on smaller speciality players to maintain high efficiency.
Competitive Moat
The company's moat is based on being the only Indian manufacturer of HMDS and the 3rd largest globally. This cost and availability advantage is sustainable as long as manufacturing standards and capacity lead times are maintained.
Macro Economic Sensitivity
Highly sensitive to global crude oil prices and the cyclical nature of the pharmaceutical and oil exploration industries.
Consumer Behavior
Demand is driven by the growth of the pharmaceutical sector and global oil exploration activities.
Geopolitical Risks
Trade barriers and changes in international chemical regulations pose risks to the export business, which is a significant portion of the revenue mix.
Regulatory & Governance
Industry Regulations
Operations are governed by pollution control norms and manufacturing standards for speciality chemicals. Compliance is critical as regulatory changes can lead to operational halts or increased capital requirements for effluent treatment.
Environmental Compliance
The company is subject to stringent environmental regulations governing chemical manufacturing; however, specific ESG compliance costs in INR were not disclosed.
Taxation Policy Impact
The effective tax rate is reflected in the deferred tax liabilities of INR 4.7 Cr and current tax liabilities of INR 0.2 Cr for FY25.
Legal Contingencies
No key audit matters or significant pending court cases were identified by the auditors in the FY25 report.
Risk Analysis
Key Uncertainties
Volatility in raw material prices and cyclicality in end-user industries (Pharma/Oil) are the primary risks, with the potential to swing operating margins by over 10% annually.
Geographic Concentration Risk
Significant concentration in the Indian market (approx. 63% of revenue in 9M FY25), with the remaining 37% coming from exports.
Third Party Dependencies
Dependency on global crude oil price movements for raw material costing, which impacts the entire value chain.
Technology Obsolescence Risk
The company must continuously upgrade its 9 plants to meet evolving manufacturing standards and maintain its global ranking in HMDS production.
Credit & Counterparty Risk
Receivables quality is supported by a large, established clientele in the pharmaceutical and oil sectors, contributing to a strong financial risk profile with a net worth of INR 488 Cr.
