Chemcon Speciality Chemicals Limited (CHEMCON)
📢 Recent Corporate Announcements
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.
Chemcon Speciality Chemicals has declared a first interim dividend of Rs. 6.50 per share (65% of face value) for FY 2025-26, with the record date set for May 28, 2026. The company also approved its audited financial results for the year ended March 31, 2026, receiving an unmodified opinion from statutory auditors. Additionally, the board has re-appointed M/s Chetan Gandhi & Associates as Cost Auditors and M/s Kulin Shah & Associates as Internal Auditors for the upcoming financial year 2026-27.
- Declared first interim dividend of Rs. 6.50 per equity share of face value Rs. 10 each.
- Set May 28, 2026, as the record date for the purpose of dividend payment.
- Approved audited financial results for FY 2025-26 with an unmodified audit opinion.
- Re-appointed M/s Chetan Gandhi & Associates as Cost Auditors for FY 2026-27.
- Re-appointed M/s Kulin Shah & Associates as Internal Auditors for FY 2026-27.
Chemcon Speciality Chemicals has declared a first interim dividend of ₹6.50 per equity share (65% of face value) for the financial year 2025-26. The company has fixed May 28, 2026, as the record date for determining shareholder eligibility for this payout. Alongside the dividend, the board approved the audited financial results for the quarter and full year ended March 31, 2026, which received an unmodified audit opinion. The company also confirmed the re-appointment of its cost and internal auditors for the 2026-27 fiscal year.
- Declared first interim dividend of ₹6.50 per share on a face value of ₹10 (65% payout).
- Established May 28, 2026, as the record date for the interim dividend distribution.
- Approved audited financial statements for FY 2025-26 with an unmodified statutory audit opinion.
- Re-appointed Chetan Gandhi & Associates as Cost Auditor and Kulin Shah & Associates as Internal Auditor for FY 2026-27.
- Interim dividend payment will be processed within 30 days from the date of declaration.
Chemcon Speciality Chemicals reported a 15.7% YoY increase in annual revenue to ₹239.98 crore for FY26. While annual net profit saw a slight decline to ₹23.60 crore from ₹24.45 crore, the Q4 performance was robust with a 61.5% YoY jump in net profit to ₹6.37 crore. The company declared a substantial interim dividend of ₹6.50 per share, representing 65% of the face value. Despite higher material costs impacting annual margins, the strong quarterly finish and dividend payout signal management confidence.
- Annual Revenue from Operations increased 15.7% YoY to ₹23,997.89 Lakhs.
- Q4 FY26 Net Profit rose significantly by 61.5% YoY to ₹637.13 Lakhs compared to ₹394.60 Lakhs in Q4 FY25.
- Declared a First Interim Dividend of ₹6.50 per share with a record date of May 28, 2026.
- Full-year Net Profit for FY26 was ₹2,359.82 Lakhs, slightly down from ₹2,445.21 Lakhs in FY25.
- Total annual expenses rose to ₹22,347.29 Lakhs, driven largely by a sharp increase in material consumption costs.
Chemcon Speciality Chemicals reported a strong Q4 performance with revenue rising 37.4% YoY to ₹75.42 crore and net profit surging 61.5% to ₹6.37 crore. For the full financial year 2025-26, revenue grew by 15.7% to ₹239.98 crore, though net profit saw a marginal decline of 3.5% to ₹23.60 crore due to higher operational expenses. The company has declared a substantial interim dividend of ₹6.50 per share (65% of face value). The board also confirmed the re-appointment of cost and internal auditors for FY 2026-27.
- Q4FY26 Net Profit increased 61.5% YoY to ₹637.13 lakhs from ₹394.60 lakhs.
- Annual Revenue for FY26 grew 15.7% to ₹23,997.89 lakhs compared to ₹20,740.18 lakhs in FY25.
- Declared a first interim dividend of ₹6.50 per equity share with a record date of May 28, 2026.
- Full-year EPS stood at ₹6.44, slightly down from ₹6.68 in the previous fiscal year.
- Cost of materials consumed for the full year rose significantly to ₹14,598.89 lakhs from ₹11,708.17 lakhs.
Chemcon Speciality Chemicals has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by MUFG Intime India Private Limited, confirms that all dematerialization requests for the quarter ended March 31, 2026, were processed within prescribed timelines. This filing ensures that the company's shareholding records are accurately maintained between physical and electronic formats. As a standard administrative requirement, it has no direct impact on the company's financial performance or operations.
- Compliance certificate submitted for the quarter ended March 31, 2026.
- Confirmation received from Registrar and Share Transfer Agent (RTA), MUFG Intime India Private Limited.
- Verification and cancellation of physical share certificates received for dematerialization confirmed.
- Register of members updated with depository names within regulatory timelines.
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.
