🔍

MOL - Meghmani Organi.

📊 NSE: MOL 🏢 Pesticides / Agrochemicals - Indian 📅 Last Updated: 12/14/2025 9:47

📢 Recent Corporate Announcements

CRISIL Reaffirms Meghmani Organics Rating at 'A', Revises Outlook to 'Negative'

🔴 NEGATIVE ⭐ 7/10

REGULATORY 📅 28 Apr 2026, 02:22 PM

CRISIL Ratings has reaffirmed the long-term rating of Meghmani Organics Limited at 'CRISIL A' but has revised the outlook from 'Stable' to 'Negative'. The short-term rating remains reaffirmed at 'CRISIL A1' for bank facilities totaling Rs. 1,094 crore. A 'Negative' outlook indicates that the rating may be downgraded in the future if the company's financial or operational performance remains under pressure. This review covers a wide range of fund-based and non-fund-based facilities across multiple major banks.

CRISIL reaffirmed the long-term rating at 'CRISIL A' but revised the outlook to 'Negative' from 'Stable'.
Short-term rating reaffirmed at 'CRISIL A1' for total bank facilities of Rs. 1,094 crore.
The rating covers 19 specific bank facility classes, including a Rs. 250 crore cash credit from State Bank of India.
Major exposures include ICICI Bank (Rs. 115 crore) and HDFC Bank (Rs. 95 crore) across various limits.
The outlook revision suggests potential concerns regarding the company's credit profile or debt-servicing ability in the medium term.

💡 Investors should exercise caution as the 'Negative' outlook suggests a potential credit downgrade if financial metrics do not improve. Monitor the company's debt levels and interest coverage ratios in upcoming quarterly reports.

Meghmani Organics Re-appoints 3 Independent Directors for 3-Year Terms

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 18 Apr 2026, 02:44 PM

Meghmani Organics Limited (MOL) has received shareholder approval to re-appoint three Independent Directors for a second term of three years, effective May 5, 2026. The appointees include Mr. Manubhai Patel, a finance expert with 45+ years of experience, Prof. (Dr) Ganapati Yadav, a Padma Shri recipient and chemical engineering scientist, and Ms. Urvashi Shah, a legal expert with 21 years of practice. These re-appointments ensure continuity in the board's oversight and strategic guidance until May 4, 2029. The retention of such high-caliber professionals in finance, green chemistry, and law strengthens the company's governance and sustainability framework.

Re-appointment of 3 Independent Directors for a second term of 3 consecutive years starting May 5, 2026
Mr. Manubhai Patel brings over 45 years of financial management experience, including a tenure as CFO of Zydus Group
Prof. (Dr) Ganapati Yadav, a Padma Shri awardee, contributes expertise with over 570 publications and 140 patents in chemical engineering
Ms. Urvashi Shah provides 21 years of legal expertise in taxation and regulatory compliance
The re-appointments were approved by shareholders via Special Resolutions in accordance with SEBI regulations

💡 Investors should view this as a positive sign of board stability and strong corporate governance. No immediate action is required as these are planned re-appointments of highly qualified professionals.

Meghmani Organics Shareholders Approve Re-appointment of Three Independent Directors

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 18 Apr 2026, 02:36 PM

Meghmani Organics Limited (MOL) has successfully passed three special resolutions via postal ballot for the re-appointment of Independent Directors. Shareholders approved second three-year terms for Mr. Manubhai Patel, Prof. (Dr) Ganapati Yadav, and Ms. Urvashi Shah, effective from May 5, 2026. The resolutions received strong support, with approval ratings ranging from 97.45% to 99.94%. This ensures leadership continuity and stable corporate governance for the company through May 2029.

Three Independent Directors re-appointed for a second term of 3 years (2026-2029).
Prof. (Dr) Ganapati Yadav received the highest shareholder approval at 99.94% in favor.
Mr. Manubhai Patel and Ms. Urvashi Shah both secured 97.45% approval from polled votes.
A total of 8,86,43,593 votes were polled out of a shareholder base of 1,38,201.
The appointments were passed as Special Resolutions with the requisite majority via remote e-voting.

💡 No immediate action is required as these are routine re-appointments that maintain board stability. Investors should view the high approval ratings as a sign of shareholder confidence in the current governance structure.

Meghmani Organics Submits Quarterly SEBI Compliance Certificate for Q4 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 15 Apr 2026, 05:09 PM

Meghmani Organics Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document, provided by RTA MUFG Intime India Private Limited, confirms the processing of dematerialization requests for the quarter ended March 31, 2026. It verifies that physical share certificates were mutilated and cancelled after verification, with depository names updated in the register of members. This is a standard procedural disclosure required by Indian listing regulations.

Compliance certificate submitted for the quarter ended March 31, 2026.
Issued by Registrar and Share Transfer Agent (RTA) MUFG Intime India Private Limited.
Confirms that dematerialized securities are listed on the stock exchanges where earlier securities were listed.
Confirms that physical certificates were cancelled and substituted with depository names within prescribed timelines.

💡 No action is required as this is a routine regulatory filing. Investors should monitor upcoming financial results for material business performance updates.

Meghmani Organics Subsidiary Kilburn Chemicals Rating Outlook Revised to Positive for ₹274 Cr Debt

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 15 Apr 2026, 05:04 PM

India Ratings & Research has revised the credit rating outlook for Kilburn Chemicals Limited (KCL), a subsidiary of Meghmani Organics, from 'Negative' to 'Positive' implications. The revision affects bank loan facilities totaling ₹274.2 crore, including a ₹199.2 crore term loan and ₹75 crore in working capital limits. The subsidiary's long-term rating is currently IND BBB, while the short-term rating is IND A3+. This change suggests an improving financial trajectory for the subsidiary, which could eventually lead to lower borrowing costs for the group.

Rating watch for subsidiary Kilburn Chemicals revised from 'Negative Implications' to 'Positive Implications'.
Total rated bank facilities amount to ₹2,742 million (₹274.2 crore).
Long-term rating maintained at IND BBB and short-term rating at IND A3+.
The facilities include a ₹199.2 crore term loan and a ₹75 crore working capital limit from HDFC Bank.

💡 This indicates improving creditworthiness of a key subsidiary; investors should monitor for a formal rating upgrade which could signal better operational performance and reduced consolidated interest costs.

Meghmani Organics Earns EcoVadis Silver Medal; Ranks in Top 4% of Agrochemical Industry

🟢 POSITIVE ⭐ 4/10

OTHER 📅 25 Mar 2026, 01:25 PM

Meghmani Organics Limited (MOL) has been awarded the EcoVadis Silver Medal, achieving a sustainability score of 79 out of 100. This recognition places the company in the top 4% of the global agrochemical industry and the top 15% of over 150,000 companies evaluated worldwide. The advancement from a 'Committed Badge' to a Silver Medal reflects significant progress in ESG governance and operational excellence. For a company that derives approximately 85% of its revenue from export markets, this global sustainability certification is a key competitive advantage.

Achieved an EcoVadis Sustainability Score of 79/100, reflecting 'Advanced' performance.
Ranked in the top 4% of the global agrochemical industry and top 15% of companies globally.
Company holds an 8% global market share in Phthalocyanine-based pigments and is a top-10 Indian pesticide manufacturer.
MOL generates approximately 85% of its topline from export markets as of FY25, making ESG compliance critical.
The award validates the company's integrated approach towards Responsible Care and ESG governance.

💡 Investors should monitor how this improved ESG rating translates into higher order volumes from sustainability-conscious global clients. This development strengthens the long-term investment case for MOL as a responsible player in the global chemical supply chain.

Meghmani Organics to Close Trading Window from April 1 for FY26 Audited Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Mar 2026, 01:44 PM

Meghmani Organics Limited (MOL) has announced the closure of its trading window for all designated persons starting April 1, 2026. This action is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of audited financial results for the fiscal year 2025-26. The window will remain closed until 48 hours after the results are officially announced. The company has implemented PAN-level freezing through CDSL to ensure compliance among designated insiders.

Trading window closure effective from April 1, 2026, for FY 2025-26 audited results.
Restriction applies to all designated persons and their immediate relatives under the Company's Code of Conduct.
Trading window will re-open 48 hours after the declaration of the financial results.
PAN-level freezing implemented via Central Depository Service Limited (CDSL) for ISIN-INE0CT101020.
The specific date for the Board Meeting to approve results will be announced separately.

💡 This is a routine regulatory announcement and requires no action from retail investors. Investors should look forward to the upcoming earnings announcement for a fundamental assessment of the company's performance.

Meghmani Organics Seeks Approval to Re-appoint Three Independent Directors for 3-Year Terms

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 17 Mar 2026, 06:22 PM

Meghmani Organics Limited has initiated a postal ballot process to seek shareholder approval for the re-appointment of three Independent Directors for a second term of three years each. The directors proposed for re-appointment are Mr. Manubhai Patel, Prof. (Dr) Ganapati Yadav, and Ms. Urvashi Shah, with their new terms set to run from May 5, 2026, to May 4, 2029. A special resolution is specifically required for Mr. Manubhai Patel as he has already attained the age of 75. The e-voting period for shareholders is scheduled to take place between March 19 and April 17, 2026.

Proposed re-appointment of 3 Independent Directors for a second consecutive term of 3 years.
The new terms for all three directors are scheduled to commence on May 5, 2026, and end on May 4, 2029.
Special resolution sought for Mr. Manubhai Patel's appointment as he is over 75 years of age.
Remote e-voting period is active from March 19, 2026, to April 17, 2026, with results by April 21, 2026.
The eligibility cut-off date for shareholders to participate in the postal ballot was March 13, 2026.

💡 Investors should monitor the voting results to ensure board continuity and maintain oversight on corporate governance standards. No immediate portfolio changes are recommended based on this routine management update.

Meghmani Organics to Participate in Arihant Capital Investor Conference on March 11, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Mar 2026, 12:41 PM

Meghmani Organics Limited (MOL) has scheduled a virtual interaction with analysts and institutional investors on March 11, 2026. The company will be participating in the Arihant Capital - Bharat Connect Conference to discuss general business updates. This disclosure is a routine compliance under Regulation 30 of SEBI (LODR) Regulations, 2015. The management has clarified that no unpublished price-sensitive information will be shared during the session.

Virtual conference scheduled for Wednesday, March 11, 2026
Participation in the Arihant Capital - Bharat Connect Conference
Compliance with SEBI Listing Obligations and Disclosure Requirements
Company confirms no price-sensitive information will be disclosed during the meet

💡 Investors should monitor the exchange filings for any investor presentations or transcripts released after the conference for insights into the company's outlook. No immediate action is required as this is a routine investor relations event.

Meghmani Organics Subsidiary Kilburn Chemicals Assigned IND BBB Rating with Negative Watch

🔵 WATCH ⭐ 6/10

ROUTINE 📅 27 Feb 2026, 07:03 PM

India Ratings & Research has assigned credit ratings to Kilburn Chemicals Limited, a subsidiary of Meghmani Organics Limited. The ratings cover bank facilities totaling INR 2,742 million, including a term loan of INR 1,992 million and working capital limits of INR 750 million. Notably, all rated facilities have been placed on 'Rating Watch with Negative Implications,' signaling potential downward pressure on the credit profile. Investors should monitor the subsidiary's operational performance as it may impact the parent company's consolidated financial health.

India Ratings assigned 'IND BBB' rating to Kilburn Chemicals' INR 1,992 million term loan.
Working capital limits of INR 750 million received 'IND BBB' and 'IND A3+' ratings.
Total rated bank facilities for the subsidiary amount to INR 2,742 million.
All facilities are placed on 'Rating Watch with Negative Implications' as of February 27, 2026.

💡 Investors should monitor the reasons behind the 'Negative Implications' watch, as a potential downgrade could increase borrowing costs for the subsidiary and affect the parent company's valuation.

Meghmani Organics Notifies Shareholders on Unclaimed Dividend Transfer to IEPF

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Feb 2026, 01:22 PM

Meghmani Organics Limited has issued a formal notice to shareholders regarding the transfer of unclaimed dividends and corresponding shares to the Investor Education and Protection Fund (IEPF). This action applies to dividends that have remained unclaimed for seven consecutive years, starting from the FY 2018-19 interim dividend. Shareholders must submit their claims to the company's Registrar and Transfer Agent (RTA) by May 20, 2026, to prevent the transfer. Post-transfer, recovery of shares and dividends will require filing e-form IEPF-5 with the government authorities.

Applies to dividends unclaimed for 7 consecutive years starting from FY 2018-19.
Shareholders must claim unpaid dividends on or before May 20, 2026.
Includes dividends from FY 2018-19 (Interim) through FY 2022-23 (Final).
Shares will be transferred to the IEPF account if claims are not processed by the deadline.
Claims can be directed to RTA MUFG Intime India Private Limited with KYC documents.

💡 Investors should verify their bank credit records for dividends since 2018 and contact the RTA if any payments are missing. Ensure your KYC and bank details are updated in your demat account to avoid future dividend claim issues.

Meghmani Organics Q3 FY26: Standalone PAT at ₹22 Cr; TiO2 Plant Shut Down to Curb Losses

🔵 WATCH ⭐ 7/10

EARNINGS 📅 07 Feb 2026, 04:33 PM

Meghmani Organics reported a standalone revenue of ₹485 crores and a PAT of ₹22 crores for Q3 FY26, with the Crop Protection segment contributing 79% of revenue. The consolidated performance was impacted by the Titanium Dioxide (TiO2) segment, which faced high raw material costs and the withdrawal of anti-dumping duties, leading to a temporary plant shutdown. While 9M FY26 consolidated PAT turned positive at ₹21 crores compared to a loss last year, export volumes faced pressure due to US trade policy uncertainties. Management remains focused on debt reduction, having repaid ₹128 crores year-to-date.

Standalone Q3 FY26 revenue reached ₹485 crores with an EBITDA margin of 10.6%.
Crop Protection segment EBITDA margin stood at 15.3% despite a 14% volume decline due to export headwinds.
Consolidated 9M FY26 PAT improved to ₹21 crores from a loss of ₹30 crores in the prior year period.
TiO2 plant temporarily shut down to mitigate losses following the withdrawal of anti-dumping duties by the Finance Ministry.
Consolidated debt stands at ₹783 crores with a debt-to-equity ratio of 0.51 as of December 31, 2025.

💡 Investors should closely monitor the re-imposition of anti-dumping duties on TiO2 and the stabilization of US trade policies as primary recovery triggers. The stock remains a 'Watch' until the Pigment and TiO2 segments demonstrate sustainable margin improvement and operational stability.

Meghmani Organics Releases Q3 FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 02 Feb 2026, 07:04 PM

Meghmani Organics Limited (MOL) has made the audio recording of its Q3 FY2026 earnings conference call available to the public. The call was conducted on February 02, 2026, at 3:00 PM IST following the announcement of the company's third-quarter financial results. This disclosure is a routine regulatory requirement under SEBI (LODR) Regulations to ensure all investors have access to management's commentary. Shareholders can access the recording via the link provided on the company's official website.

Audio recording of Q3 FY26 earnings call released on February 02, 2026.
The conference call was held at 3:00 PM IST to discuss quarterly performance.
Compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Direct link for the recording is hosted on the Meghmani Organics corporate website.

💡 Investors should listen to the recording to understand management's outlook on the agrochemical and pigment industries and any guidance provided for the final quarter of FY26.

Meghmani Organics Q3 FY26 Net Profit Declines 26% YoY to ₹22.3 Crore

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 31 Jan 2026, 03:47 PM

Meghmani Organics reported a weak Q3 FY26 with standalone revenue declining 13% YoY to ₹484.9 crore and net profit falling 26% to ₹22.3 crore. The performance was primarily impacted by softer export demand due to US trade policy uncertainty and low capacity utilization in the Pigments segment at 38%. Despite the quarterly slowdown, the 9M FY26 performance remains strong with net profit surging 226% YoY to ₹105.7 crore. Management expects recovery through the re-imposition of Anti-Dumping Duties on TiO2 and normalization of raw material costs.

Q3 FY26 Revenue from Operations fell 13% YoY to ₹484.9 crore compared to ₹558.0 crore.
Net Profit for the quarter dropped 26% YoY to ₹22.3 crore with margins shrinking to 4.6%.
Pigments segment struggled significantly with EBITDA of only ₹0.7 crore and 38% capacity utilization.
Crop Protection segment remained the mainstay, contributing 79% of revenue with 66% capacity utilization.
9M FY26 cumulative performance remains positive with EBITDA up 75% YoY to ₹202.5 crore.

💡 Investors should exercise caution as the company faces immediate headwinds in export markets and the Pigments division. Monitor the status of Anti-Dumping Duty on TiO2 and global demand recovery before increasing exposure.

Meghmani Organics Q3 FY26 Revenue Drops 13% YoY to ₹484.9 Cr; EBITDA at ₹51.5 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 31 Jan 2026, 03:41 PM

Meghmani Organics Limited (MOL) reported a 13% year-on-year decline in standalone revenue for Q3 FY26, totaling ₹484.9 crore. EBITDA also decreased to ₹51.5 crore from ₹60.4 crore in the previous year's corresponding quarter. The Crop Protection segment remains the primary revenue driver, contributing 79% of the total revenue with an EBITDA margin of 15.3%. The company is currently focusing on strategic expansions in Titanium Dioxide (TiO2) and Nano Urea to diversify its portfolio and reduce reliance on traditional segments.

Standalone revenue from operations decreased 13% YoY to ₹484.9 crore in Q3 FY26.
Crop Protection segment revenue stood at ₹382.1 crore, contributing 79% of the total mix.
Exports remain critical, accounting for 87% of Crop Protection and 80% of Pigment revenue streams.
The company has an installed capacity of 5 crore bottles per year for its new Nano Urea liquid fertilizer.
MOL is positioning its Titanium Dioxide (TiO2) business as a major import substitute, targeting a market where 79% of supply is currently imported.

💡 Investors should exercise caution due to the decline in quarterly revenue and EBITDA, suggesting near-term headwinds in core segments. Monitor the ramp-up and margin contribution from the new Nano Urea and TiO2 projects as they are critical for future growth.

View All MOL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Overall revenue for 9M FY2024 moderated 42% to INR 1,156 Cr. The Agrochemicals segment witnessed a 48% de-growth to INR 804 Cr (down from INR 1,480 Cr YoY). The Pigment segment saw capacity utilization fall from 62% to 39% due to global price erosion and oversupply.

Geographic Revenue Split

The USA is a major export region, contributing approximately 22% of total revenue in fiscal 2024. The remaining revenue is diversified across domestic Indian markets and other international regions.

Profitability Margins

MOL reported a PAT loss of INR 88 Cr during 9M FY2024. Operating margins are expected to stabilize over the medium term; however, upward rating sensitivity requires sustenance of margins over 10-12% or 16% depending on the fiscal period. 9M FY2025 showed some recovery with interest coverage rising to 2.16 times from 0.15 times YoY.

EBITDA Margin

EBITDA margins were severely impacted by high-cost inventory and price erosion in FY2024. For H1 FY2024, the company reported a PAT loss of INR 49.8 Cr compared to a profit of INR 175 Cr in the previous year, reflecting a sharp decline in core profitability.

Capital Expenditure

MOL curtailed its FY2024 capex plan from INR 450 Cr to INR 230 Cr due to challenging market conditions. In 9M FY2025, the company incurred INR 78 Cr in capex, primarily for debottlenecking and maintenance. Future capex for FY2025 is estimated at INR 80-90 Cr.

Credit Rating & Borrowing

CRISIL maintains a 'Negative' outlook. Borrowing is supported by a strong capital structure with gearing at 0.54 times as of September 30, 2024. Interest coverage is estimated to improve to 4-7 times over the medium term as profitability recovers.

⚙️ Operational Drivers

Raw Materials

Key raw materials and intermediates include CPC Blue (for pigments), Cypermethric acid chloride, meta phenoxy benzaldehyde, and meta phenoxy benzyl alcohol (for agrochemicals).

Import Sources

Not explicitly disclosed in available documents, though the company mentions reducing reliance on imports through backward integration.

Capacity Expansion

MOL is ramping up its Multi-Purpose Plant (MPP), Nano crop nutrition (Nano Urea) facility, and Titanium Dioxide (TiO2) plant to drive future volume growth.

Raw Material Costs

Raw material costs increased significantly for certain segments, leading to losses where 'the more we sell, the loss is even higher.' The company uses backward integration to mitigate these costs, manufacturing its own key intermediates.

Manufacturing Efficiency

Pigment segment utilization fell to 39% in FY2024. Efficiency is expected to improve through the commercialization of the MPP, which allows for flexible manufacturing of various technicals.

📈 Strategic Growth

Expected Growth Rate

10-12%

Growth Strategy

Growth will be driven by the ramp-up of the TiO2 plant, the Multi-Purpose Plant (MPP) for new technicals, and the Nano Urea segment. The company is the first private player to manufacture nano liquid urea, providing a first-mover advantage in a high-growth niche.

Products & Services

Agrochemical technicals and formulations, Pigments (specifically CPC Blue), Nano Liquid Urea, and Titanium Dioxide (TiO2).

Brand Portfolio

Meghmani Organics.

New Products/Services

Nano Liquid Urea and new technicals from the MPP are expected to be key revenue contributors, though specific percentage contributions are not disclosed.

Market Expansion

Focusing on increasing wallet share with existing clients and expanding the reach of the new Nano Urea product in the domestic market.

Market Share & Ranking

MOL maintains an established market position in the agrochemicals and pigment segments, though specific ranking percentages are not provided.

Strategic Alliances

The company has a relationship with Epigral Ltd (formerly Meghmani Finechem Ltd) involving the redemption of preference shares worth INR 94 Cr which aids liquidity.

🌍 External Factors

Industry Trends

The industry is currently facing a downturn due to oversupply and price erosion. Future trends involve a shift toward nano-fertilizers and more specialized agrochemical technicals where MOL is positioning itself via its MPP and Nano Urea plants.

Competitive Landscape

Competes with large global and domestic agrochemical players and Chinese manufacturers who influence global pricing through volume dumping.

Competitive Moat

Moat is built on backward integration (manufacturing own intermediates) and being the first private mover in Nano Urea. This integration provides a cost advantage of 10-15% over non-integrated peers.

Macro Economic Sensitivity

Highly sensitive to global agrochemical demand cycles and macro-economic headwinds which caused a 48% drop in agrochemical revenue in FY2024.

Consumer Behavior

Shift toward more efficient, low-dosage fertilizers like Nano Urea is a key trend affecting demand.

Geopolitical Risks

Exposure to US-China trade dynamics; while China faces 125% tariffs, any diversion of Chinese excess capacity to other regions where MOL operates remains a monitorable risk.

⚖️ Regulatory & Governance

Industry Regulations

Subject to environmental norms regarding hazardous waste and GHG emissions. US tariff regulations are a key monitorable given the 22% revenue exposure.

Environmental Compliance

MOL focuses on GHG reduction (8% reduction in FY2023) and increasing renewable energy usage to 25.8% to meet ESG standards and maintain access to capital markets.

Legal Contingencies

The company received an insurance claim of INR 44-45 Cr related to a fire incident at its Dahej plant.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the timeline for the recovery of global agrochemical demand and the stabilization of realizations, which could impact cash generation by more than 20% if subdued performance continues.