Kronox Lab Sciences Limited (KRONOX)
₹209.15 -4.14% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Kronox Lab's revenue was ₹28.4 Cr (+16.9% year on year, +8.6% on the previous quarter), and net profit ₹7.3 Cr (+16.3% year on year); the operating margin was 31.7%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹28.4 | +16.9% | +8.6% |
| Operating profit | ₹9.0 | +12.9% | -5.5% |
| Net profit | ₹7.3 | +16.3% | -8.7% |
| EPS (₹) | 2.00 | +17.6% | -7.4% |
| Operating margin | 31.7% | — | — |
KRONOX exchange data
NSE end-of-day data for
It closed at its lower price band (circuit) on 16 Oct, one of 10 band closes in about the last 20 sessions.
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
Kronox Lab Sciences' Board has approved the acquisition of a manufacturing plant admeasuring approximately 5,000 sq. meters located at Dahej SEZ from Axiom Chemicals Private Limited. The transaction is structured as an asset acquisition rather than an equity buyout and will be funded entirely through internal accruals. The acquisition is targeted for completion within one month, subject to regulatory clearances including approvals from the Development Commissioner / SEZ authority and pollution control boards. Specific financial consideration for the transaction was not disclosed.
- Approved acquisition of a plant admeasuring ~5,000 sq. meters at Z/80, Dahej SEZ
- Asset-only purchase from Axiom Chemicals Private Limited, funded via internal accruals
- Targeted completion timeframe within one month from October 14, 2026
- Requires regulatory approvals including SEZ Authority/Development Commissioner and Pollution Control Board
Kronox Lab Sciences' Board has approved the acquisition of a manufacturing plant admeasuring approximately 5,000 sq. meters located at Dahej SEZ from Axiom Chemicals Private Limited. The transaction is structured as an asset acquisition rather than an equity buyout and will be funded entirely through internal accruals. The acquisition is targeted for completion within one month, subject to regulatory clearances including approvals from the Development Commissioner / SEZ authority and pollution control boards. Specific financial consideration for the transaction was not disclosed.
- Approved acquisition of a plant admeasuring ~5,000 sq. meters at Z/80, Dahej SEZ
- Asset-only purchase from Axiom Chemicals Private Limited, funded via internal accruals
- Targeted completion timeframe within one month from October 14, 2026
- Requires regulatory approvals including SEZ Authority/Development Commissioner and Pollution Control Board
Kronox Lab Sciences Limited has submitted the 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 the company's Registrar and Share Transfer Agent, KFin Technologies Limited, dated October 2, 2026. It confirms that the details of securities dematerialized and rematerialized during the quarter have been duly submitted to the stock exchanges. This is a routine quarterly compliance update with no material financial impact.
- Compliance submission under Regulation 74(5) for the quarter ended September 30, 2026
- Certificate issued by Registrar and Share Transfer Agent KFin Technologies Limited on October 2, 2026
- Details of dematerialized/rematerialized securities reported to stock exchanges as per SEBI regulations
Kronox Lab Sciences has submitted disclosures under SEBI PIT Regulations regarding significant equity stake sales by three key individuals/promoters. Jogindersingh Jaswal disclosed the sale of 97,96,400 equity shares (~23.09% of total paid-up equity). Concurrently, Ketan Ramani disclosed the sale of 97,96,400 shares (~23.09%), and Pritesh Ramani reported selling 67,11,200 shares (~18.09%). This represents a massive cumulative offloading of ownership, drastically reducing historical promoter holding from 74.21%.
- Jogindersingh Jaswal sold 97,96,400 equity shares, representing ~23.09% of paid-up capital
- Ketan Ramani sold 97,96,400 equity shares, representing ~23.09% of paid-up capital
- Pritesh Ramani sold 67,11,200 equity shares, representing ~18.09% of paid-up capital
- Total shares sold across the three disclosures sum to 2,63,04,000 equity shares (~64.27% of capital)
Kronox Lab Sciences has announced the completion of a major ownership change, with Indo Borax & Chemicals Limited acquiring 2,38,44,000 shares (64.26% stake) from the promoter sellers on September 29, 2026. Following the transaction, the erstwhile promoters retain a 9.95% stake and have stepped down from the promoter group and board positions. In their place, Suresh Kalra has been appointed MD & CEO alongside new executive and independent directors, while outgoing promoters have entered into 36-month transition consultancy agreements valued at ₹2.10 crore each.
- Indo Borax & Chemicals acquired 2,38,44,000 equity shares, representing 64.26% of Kronox's paid-up share capital.
- Erstwhile promoters' collective shareholding reduced to 36,90,000 equity shares (9.95%), ceasing their promoter status.
- Suresh Kalra appointed Managing Director and CEO for a 5-year term, effective September 29, 2026.
- Former promoters Ketan Ramani, Pritesh Ramani, and Jogindersingh Jaswal resigned from directorships and executive positions.
- Key exiting promoters engaged under 36-month transition consultancy agreements with a fixed fee of ₹2.10 crore each.
Kronox Lab Sciences has announced the completion of a major ownership change, with Indo Borax & Chemicals Limited acquiring 2,38,44,000 shares (64.26% stake) from the promoter sellers on September 29, 2026. Following the transaction, the erstwhile promoters retain a 9.95% stake and have stepped down from the promoter group and board positions. In their place, Suresh Kalra has been appointed MD & CEO alongside new executive and independent directors, while outgoing promoters have entered into 36-month transition consultancy agreements valued at ₹2.10 crore each.
- Indo Borax & Chemicals acquired 2,38,44,000 equity shares, representing 64.26% of Kronox's paid-up share capital.
- Erstwhile promoters' collective shareholding reduced to 36,90,000 equity shares (9.95%), ceasing their promoter status.
- Suresh Kalra appointed Managing Director and CEO for a 5-year term, effective September 29, 2026.
- Former promoters Ketan Ramani, Pritesh Ramani, and Jogindersingh Jaswal resigned from directorships and executive positions.
- Key exiting promoters engaged under 36-month transition consultancy agreements with a fixed fee of ₹2.10 crore each.
Kronox Lab Sciences has announced the completion of a major ownership change, with Indo Borax & Chemicals Limited acquiring 2,38,44,000 shares (64.26% stake) from the promoter sellers on September 29, 2026. Following the transaction, the erstwhile promoters retain a 9.95% stake and have stepped down from the promoter group and board positions. In their place, Suresh Kalra has been appointed MD & CEO alongside new executive and independent directors, while outgoing promoters have entered into 36-month transition consultancy agreements valued at ₹2.10 crore each.
- Indo Borax & Chemicals acquired 2,38,44,000 equity shares, representing 64.26% of Kronox's paid-up share capital.
- Erstwhile promoters' collective shareholding reduced to 36,90,000 equity shares (9.95%), ceasing their promoter status.
- Suresh Kalra appointed Managing Director and CEO for a 5-year term, effective September 29, 2026.
- Former promoters Ketan Ramani, Pritesh Ramani, and Jogindersingh Jaswal resigned from directorships and executive positions.
- Key exiting promoters engaged under 36-month transition consultancy agreements with a fixed fee of ₹2.10 crore each.
Kronox Lab Sciences has announced the completion of a major ownership change, with Indo Borax & Chemicals Limited acquiring 2,38,44,000 shares (64.26% stake) from the promoter sellers on September 29, 2026. Following the transaction, the erstwhile promoters retain a 9.95% stake and have stepped down from the promoter group and board positions. In their place, Suresh Kalra has been appointed MD & CEO alongside new executive and independent directors, while outgoing promoters have entered into 36-month transition consultancy agreements valued at ₹2.10 crore each.
- Indo Borax & Chemicals acquired 2,38,44,000 equity shares, representing 64.26% of Kronox's paid-up share capital.
- Erstwhile promoters' collective shareholding reduced to 36,90,000 equity shares (9.95%), ceasing their promoter status.
- Suresh Kalra appointed Managing Director and CEO for a 5-year term, effective September 29, 2026.
- Former promoters Ketan Ramani, Pritesh Ramani, and Jogindersingh Jaswal resigned from directorships and executive positions.
- Key exiting promoters engaged under 36-month transition consultancy agreements with a fixed fee of ₹2.10 crore each.
Kronox Lab Sciences has announced the completion of a major ownership change, with Indo Borax & Chemicals Limited acquiring 2,38,44,000 shares (64.26% stake) from the promoter sellers on September 29, 2026. Following the transaction, the erstwhile promoters retain a 9.95% stake and have stepped down from the promoter group and board positions. In their place, Suresh Kalra has been appointed MD & CEO alongside new executive and independent directors, while outgoing promoters have entered into 36-month transition consultancy agreements valued at ₹2.10 crore each.
- Indo Borax & Chemicals acquired 2,38,44,000 equity shares, representing 64.26% of Kronox's paid-up share capital.
- Erstwhile promoters' collective shareholding reduced to 36,90,000 equity shares (9.95%), ceasing their promoter status.
- Suresh Kalra appointed Managing Director and CEO for a 5-year term, effective September 29, 2026.
- Former promoters Ketan Ramani, Pritesh Ramani, and Jogindersingh Jaswal resigned from directorships and executive positions.
- Key exiting promoters engaged under 36-month transition consultancy agreements with a fixed fee of ₹2.10 crore each.
Kronox Lab Sciences has announced the completion of a major ownership change, with Indo Borax & Chemicals Limited acquiring 2,38,44,000 shares (64.26% stake) from the promoter sellers on September 29, 2026. Following the transaction, the erstwhile promoters retain a 9.95% stake and have stepped down from the promoter group and board positions. In their place, Suresh Kalra has been appointed MD & CEO alongside new executive and independent directors, while outgoing promoters have entered into 36-month transition consultancy agreements valued at ₹2.10 crore each.
- Indo Borax & Chemicals acquired 2,38,44,000 equity shares, representing 64.26% of Kronox's paid-up share capital.
- Erstwhile promoters' collective shareholding reduced to 36,90,000 equity shares (9.95%), ceasing their promoter status.
- Suresh Kalra appointed Managing Director and CEO for a 5-year term, effective September 29, 2026.
- Former promoters Ketan Ramani, Pritesh Ramani, and Jogindersingh Jaswal resigned from directorships and executive positions.
- Key exiting promoters engaged under 36-month transition consultancy agreements with a fixed fee of ₹2.10 crore each.
Kronox Lab Sciences has announced the completion of a major ownership change, with Indo Borax & Chemicals Limited acquiring 2,38,44,000 shares (64.26% stake) from the promoter sellers on September 29, 2026. Following the transaction, the erstwhile promoters retain a 9.95% stake and have stepped down from the promoter group and board positions. In their place, Suresh Kalra has been appointed MD & CEO alongside new executive and independent directors, while outgoing promoters have entered into 36-month transition consultancy agreements valued at ₹2.10 crore each.
- Indo Borax & Chemicals acquired 2,38,44,000 equity shares, representing 64.26% of Kronox's paid-up share capital.
- Erstwhile promoters' collective shareholding reduced to 36,90,000 equity shares (9.95%), ceasing their promoter status.
- Suresh Kalra appointed Managing Director and CEO for a 5-year term, effective September 29, 2026.
- Former promoters Ketan Ramani, Pritesh Ramani, and Jogindersingh Jaswal resigned from directorships and executive positions.
- Key exiting promoters engaged under 36-month transition consultancy agreements with a fixed fee of ₹2.10 crore each.
Indo Borax & Chemicals Limited has acquired control of Kronox Lab Sciences Limited after completing the transfer of 2,38,44,000 equity shares (representing 64.26% of paid-up capital) on September 29, 2026. The erstwhile promoters' stake has dropped to 9.95% (36,90,000 shares), and they have applied for re-classification as public shareholders under Regulation 31A. In addition, the acquirer along with Zenrock Chemicals has triggered an open offer to purchase up to 95,70,000 equity shares (25.79% stake) from public shareholders.
- Indo Borax & Chemicals completes acquisition of 2,38,44,000 equity shares representing a 64.26% stake
- Erstwhile promoters' residual holding declines to 36,90,000 equity shares (9.95%)
- Open offer launched to acquire up to 95,70,000 shares, representing 25.79% of the voting share capital
- Erstwhile promoters seek reclassification to public category under Regulation 31A(10)
Kronox Lab Sciences has announced the completion of a major ownership change, with Indo Borax & Chemicals Limited acquiring 2,38,44,000 shares (64.26% stake) from the promoter sellers on September 29, 2026. Following the transaction, the erstwhile promoters retain a 9.95% stake and have stepped down from the promoter group and board positions. In their place, Suresh Kalra has been appointed MD & CEO alongside new executive and independent directors, while outgoing promoters have entered into 36-month transition consultancy agreements valued at ₹2.10 crore each.
- Indo Borax & Chemicals acquired 2,38,44,000 equity shares, representing 64.26% of Kronox's paid-up share capital.
- Erstwhile promoters' collective shareholding reduced to 36,90,000 equity shares (9.95%), ceasing their promoter status.
- Suresh Kalra appointed Managing Director and CEO for a 5-year term, effective September 29, 2026.
- Former promoters Ketan Ramani, Pritesh Ramani, and Jogindersingh Jaswal resigned from directorships and executive positions.
- Key exiting promoters engaged under 36-month transition consultancy agreements with a fixed fee of ₹2.10 crore each.
Kronox Lab Sciences concluded its 17th Annual General Meeting held on September 16, 2026, where shareholders approved all four ordinary resolutions. These included the adoption of FY26 audited standalone financial statements and approval of a final dividend of Rs 0.50 per equity share. Total votes polled reached 17,758,011 shares, representing 47.86% of outstanding equity, with 99.97% voting in favor across resolutions. Re-appointment of director Jogindersingh Jaswal and cost auditor remuneration ratification were also approved.
- Final dividend of Rs 0.50 per equity share approved for FY26
- Total votes polled amounted to 17,758,011 shares (47.8601% of outstanding shares)
- Resolutions carried with 99.9718% of polled votes in favor and 0.0282% against
- Total number of registered shareholders on record date (September 09, 2026) was 32,116
Kronox Lab Sciences Limited has disclosed the voting results and scrutinizer's report for its 16th Annual General Meeting held on September 16, 2026. Shareholders approved all four ordinary resolutions, including the adoption of FY26 standalone financial statements and a final dividend of Rs 0.50 per equity share. Total valid votes polled stood at 17,758,011, representing 47.86% of total outstanding shares, with 99.97% voting in favour across all resolutions. Additionally, the reappointment of retiring director Mr. Jogindersingh Jaswal and ratification of cost auditor remuneration were cleared.
- Declared final dividend of Rs. 0.50 per equity share for FY 2025-26 approved by 99.97% majority
- Total votes polled amounted to 17,758,011 shares, representing 47.86% of total 37,104,000 outstanding shares
- Approval secured for reappointment of director Mr. Jogindersingh Jaswal (DIN: 02385809)
- Total of 32,116 shareholders were recorded on the cutoff/record date of September 09, 2026
Financial Performance
Revenue Growth by Segment
The company operates in a single reportable segment: Manufacturing of High Purity Speciality Fine Chemicals. Revenue from operations for Q2 FY26 was INR 25.53 Cr, representing a 2.71% growth compared to INR 24.86 Cr in Q2 FY25. However, H1 FY26 revenue of INR 49.82 Cr showed a marginal decline of 0.46% compared to INR 50.05 Cr in H1 FY25, indicating flat performance in the first half of the year.
Geographic Revenue Split
Not disclosed in available documents. The company operates from its registered and corporate offices in Vadodara, Gujarat, with manufacturing units in Padra and a new unit planned in Dahej.
Profitability Margins
Net Profit Margin for H1 FY26 stood at 26.23%, improving from 25.22% in H1 FY25. This margin expansion was driven by a 3.51% increase in Profit After Tax (INR 13.07 Cr vs INR 12.62 Cr) despite stagnant revenue, suggesting better cost control or a shift toward higher-margin products.
EBITDA Margin
EBITDA margin for H1 FY26 is approximately 37.41% (calculated as PBT of INR 17.73 Cr + Depreciation of INR 0.87 Cr + Finance Costs of INR 0.04 Cr over Revenue of INR 49.82 Cr). This represents a healthy core profitability profile for the specialty chemicals sector.
Capital Expenditure
The company invested INR 3.03 Cr in Property, Plant, and Equipment (including CWIP) during H1 FY26. A significant upcoming CAPEX is planned for the construction of UNIT-IV at Dahej, following the receipt of 'Consent to Establish' from the GPCB in November 2025.
Credit Rating & Borrowing
The company maintains a very low debt profile. Total borrowings as of September 30, 2025, stood at INR 2.61 Cr (INR 1.31 Cr non-current and INR 1.30 Cr current) against a total equity base of INR 101.40 Cr, resulting in a negligible debt-to-equity ratio.
Operational Drivers
Raw Materials
The company consumes chemical raw materials for manufacturing High Purity Speciality Fine Chemicals. Cost of materials consumed in H1 FY26 was INR 23.08 Cr, representing 46.33% of total revenue.
Capacity Expansion
The company currently operates units in Padra, Vadodara. It has received GPCB 'Consent to Establish' for UNIT-IV at Dahej as of November 10, 2025. Construction is set to commence shortly, which will significantly expand the total manufacturing capacity for specialty chemicals.
Raw Material Costs
Raw material costs as a percentage of revenue decreased slightly to 46.33% in H1 FY26 from 46.28% in H1 FY25. Total material consumption was INR 23.08 Cr, down 0.36% YoY, tracking closely with the slight revenue decline.
Manufacturing Efficiency
Depreciation and amortization expenses rose 28.34% YoY to INR 0.87 Cr in H1 FY26, reflecting recent additions to the fixed asset base and modernization of existing facilities.
Strategic Growth
Expected Growth Rate
15-20%
Growth Strategy
Growth will be driven by the operationalization of UNIT-IV at Dahej, which has recently cleared regulatory hurdles. The company is focusing on the high-margin 'High Purity' segment of the specialty chemicals market, targeting applications in pharmaceuticals, nutraceuticals, and biotech. The strategy includes leveraging its debt-free balance sheet to fund expansion through internal accruals.
Products & Services
High Purity Speciality Fine Chemicals used as reagents and raw materials in laboratory testing, pharmaceutical manufacturing, and biotech research.
Brand Portfolio
KRONOX
New Products/Services
The company is expanding its product portfolio within the high-purity chemical range to cater to the evolving standards of the pharmaceutical industry.
Market Expansion
Expansion is focused on the Dahej industrial zone (UNIT-IV) to tap into the chemical hub's logistics and export advantages.
External Factors
Industry Trends
The specialty chemicals industry is shifting toward higher purity standards and 'China Plus One' sourcing strategies. KRONOX is positioning itself to capture this shift by expanding its Gujarat-based manufacturing footprint.
Competitive Landscape
Competes with both domestic specialty chemical manufacturers and international reagent suppliers in the high-purity niche.
Competitive Moat
The company's moat lies in its ability to manufacture chemicals to extremely high purity levels, which requires stringent quality control and specialized processes. This creates high switching costs for pharmaceutical clients who have validated KRONOX as a supplier.
Macro Economic Sensitivity
Highly sensitive to the growth of the Indian pharmaceutical and healthcare sectors, which are primary consumers of high-purity chemicals.
Consumer Behavior
Increased focus on drug safety and precision in lab testing is driving demand for higher-grade specialty chemicals.
Geopolitical Risks
Trade barriers or changes in export-import policies for chemical precursors could affect procurement costs and international sales.
Regulatory & Governance
Industry Regulations
Operations are governed by GPCB (Gujarat Pollution Control Board) norms and Indian Accounting Standards (Ind AS 34). The company must adhere to specific manufacturing standards for chemicals used in pharmaceutical applications.
Environmental Compliance
The company recently secured Environmental Clearance and GPCB 'Consent to Establish' for its Dahej unit, indicating compliance with stringent Gujarat pollution control norms.
Taxation Policy Impact
Effective tax rate for H1 FY26 was approximately 26.32% (Tax expense of INR 4.67 Cr on PBT of INR 17.73 Cr).
Legal Contingencies
No major pending court cases or litigation values were disclosed in the financial results or announcements.
Risk Analysis
Key Uncertainties
The primary uncertainty is the timeline for the completion and commissioning of UNIT-IV at Dahej, which is critical for future growth. Regulatory changes in environmental norms for chemical units in Gujarat also pose a potential risk.
Geographic Concentration Risk
High geographic concentration with all existing and planned units located in Gujarat (Padra and Dahej).
Third Party Dependencies
Dependency on specialized raw material suppliers for chemical precursors; however, specific vendor names were not disclosed.
Technology Obsolescence Risk
Risk is low as the demand for high-purity basic chemicals is stable, but the company must continuously upgrade its purification technologies.
Credit & Counterparty Risk
Trade receivables stood at INR 20.53 Cr as of September 30, 2025, representing approximately 41% of H1 revenue, indicating a significant but manageable credit exposure to clients.
