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VINYLINDIA - Vinyl Chemicals

📊 NSE: VINYLINDIA 🏢 Trading 📅 Last Updated: 12/14/2025 15:09

📢 Recent Corporate Announcements

Vinyl Chemicals Recommends ₹7 Dividend; Issues TDS Guidelines for Shareholders

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 30 Apr 2026, 10:53 AM

Vinyl Chemicals (India) Limited has recommended a dividend of ₹7 per equity share for the financial year ended March 31, 2026. The company has issued a detailed communication regarding Tax Deduction at Source (TDS) requirements for both resident and non-resident shareholders. Resident individuals with a valid PAN will face a 10% TDS, while those without a valid PAN or whose PAN is not linked to Aadhaar will face a 20% deduction. Shareholders must submit necessary tax exemption forms and update bank details by May 20, 2026, to ensure correct tax treatment.

Recommended a dividend of ₹7 per equity share of face value ₹1 for FY 2025-26.
Standard TDS rate of 10% for resident shareholders with valid PAN; 20% for those without or with inoperative PAN.
No TDS for resident individuals if the total dividend received in FY 2026-27 does not exceed ₹10,000.
Deadline for submitting tax-related documents (like Form 121 or TRC) is May 20, 2026.
Non-resident shareholders can avail of DTAA benefits by providing a Tax Residency Certificate and Form 41.

💡 Shareholders should ensure their PAN is linked with Aadhaar and bank details are updated with their Depository Participant by May 20, 2026. Eligible investors should submit tax exemption forms via the company's portal to avoid unnecessary tax deduction.

Vinyl Chemicals Re-appoints Madhukar Parekh as MD and Prakash Shah as ID for 5-Year Terms

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 25 Apr 2026, 11:26 PM

Vinyl Chemicals (India) Limited has approved the re-appointment of Shri Madhukar Parekh as Managing Director for a five-year term starting April 1, 2027. Shri Prakash Shah has also been re-appointed as an Independent Director for a second five-year term effective October 6, 2026. Shri Parekh, who is also the Executive Chairman of Pidilite Industries, brings over 55 years of experience to the role. These appointments ensure leadership continuity and are subject to shareholder approval.

Shri Madhukar Parekh re-appointed as Managing Director for 5 years effective April 1, 2027
Shri Prakash Shah re-appointed as Independent Director for a second 5-year term from Oct 2026 to Oct 2031
Shri Madhukar Parekh brings over 55 years of experience and is the Executive Chairman of Pidilite Industries
Shri Prakash Shah is a solicitor with over 40 years of experience in commercial and tax litigation
Both appointments were recommended by the Nomination and Remuneration Committee and approved by the Board

💡 Investors should take this as a positive sign of management stability and continuity. No immediate action is required as these are re-appointments of experienced incumbents.

Vinyl Chemicals Re-appoints Madhukar Parekh as MD for 5 Years from April 2027

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 25 Apr 2026, 11:23 PM

The Board of Directors of Vinyl Chemicals (India) Limited has approved the re-appointment of Shri Madhukar Parekh as Managing Director for a five-year term starting April 1, 2027. Additionally, Shri Prakash Shah has been re-appointed as an Independent Director for a second consecutive five-year term from October 2026 to October 2031. Madhukar Parekh, who is also the Executive Chairman of Pidilite Industries, brings over 55 years of extensive experience in the chemical industry. These appointments are subject to shareholder approval and ensure long-term leadership continuity for the company.

Re-appointment of Shri Madhukar Parekh as Managing Director for a 5-year term effective April 1, 2027
Re-appointment of Shri Prakash Shah as Independent Director for a second 5-year term starting October 6, 2026
Managing Director Madhukar Parekh brings over 55 years of experience and is a Gold medalist from ICT
Independent Director Prakash Shah has over 4 decades of legal experience in commercial and tax litigation
Both appointments are subject to the approval of the company's shareholders

💡 Investors should view this as a positive sign of management stability and continuity, particularly given the MD's deep industry expertise. No immediate action is required as these are standard leadership extensions.

Vinyl Chemicals Re-appoints Madhukar Parekh as MD for 5-Year Term

🟢 POSITIVE ⭐ 7/10

MANAGEMENT 📅 25 Apr 2026, 11:10 PM

Vinyl Chemicals (India) Limited has announced the re-appointment of Shri Madhukar Parekh as Managing Director for a further five-year term starting April 1, 2027. The board also approved the re-appointment of Shri Prakash Shah as an Independent Director for a second consecutive five-year term from October 2026 to October 2031. Shri Madhukar Parekh, who is also the Executive Chairman of Pidilite Industries, brings over 55 years of experience in the chemical industry. These appointments are subject to shareholder approval and ensure leadership continuity for the company.

Shri Madhukar Parekh re-appointed as Managing Director for a 5-year term effective April 1, 2027
Shri Prakash Shah re-appointed as Independent Director for a second 5-year term until October 5, 2031
Managing Director Madhukar Parekh holds over 55 years of experience and is the Executive Chairman of Pidilite Industries
Appointments were recommended by the Nomination and Remuneration Committee and approved by the Board on April 24, 2026

💡 Investors should welcome the continuity of experienced leadership, particularly given the MD's strong ties to Pidilite Industries. No immediate action is required as this represents a stable transition in management.

Vinyl Chemicals Recommends Rs 7 Dividend; FY26 Net Profit Declines 26% to Rs 16.50 Crore

🟡 NEUTRAL ⭐ 7/10

DIVIDEND 📅 24 Apr 2026, 01:16 PM

Vinyl Chemicals (India) Limited has recommended a final dividend of Rs. 7 per equity share for FY 2025-26, maintaining a strong payout despite a decline in earnings. While annual revenue grew by 4.3% to Rs. 652.44 crore, net profit fell from Rs. 22.33 crore to Rs. 16.50 crore. The profitability was impacted by a significant rise in foreign exchange expenses, which jumped to Rs. 10.07 crore from Rs. 3.79 crore in the previous year. The company's core trading business remains stable in terms of volume, but margins are under pressure due to currency volatility and higher purchase costs.

Recommended a final dividend of Rs. 7 per equity share of face value Re. 1 for FY 2025-26.
Annual Revenue from operations increased to Rs. 652.44 crore vs Rs. 625.25 crore in FY25.
Net Profit for the full year decreased by 26% to Rs. 16.50 crore from Rs. 22.33 crore YoY.
Foreign exchange difference expense surged significantly to Rs. 10.07 crore from Rs. 3.79 crore.
Full-year Earnings Per Share (EPS) declined to Rs. 8.99 from Rs. 12.17 in the previous fiscal.

💡 Investors may find the Rs. 7 dividend attractive for yield, but should be cautious about the declining profit margins and high sensitivity to foreign exchange fluctuations. Monitor the company's ability to manage trading costs and currency risks in the upcoming quarters.

Vinyl Chemicals Issues Mandatory KYC Update Notice for Physical Shareholders

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 10 Apr 2026, 02:37 PM

Vinyl Chemicals (India) Limited has issued a mandatory notice to shareholders holding securities in physical form to furnish PAN, KYC, and bank account details. This compliance requirement follows SEBI circulars from 2024 and 2026 aimed at digitizing investor records. Failure to update these details will result in dividends being paid only through electronic mode once the information is provided. The company has designated MUFG Intime India Private Limited as the Registrar and Transfer Agent (RTA) for processing these updates.

Mandatory submission of PAN, KYC, and Bank details for all shareholders holding shares in physical mode.
Dividends will be processed exclusively through electronic mode for compliant folios effective from April 01, 2024.
PAN must be linked to Aadhaar to be considered valid for updating records as per SEBI mandates.
Submission can be completed via In-Person Verification (IPV), hard copy, or e-sign through the RTA's digital portal.
Prescribed forms ISR-1 and ISR-2 are required for registering or changing KYC details.

💡 Shareholders holding physical certificates should immediately submit the required KYC documents to the RTA to avoid delays in dividend payments. It is highly recommended to dematerialize physical shares for better liquidity and ease of management.

Vinyl Chemicals Clarifies No Undisclosed Information Behind Recent Price Movement

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Apr 2026, 10:45 AM

Vinyl Chemicals (India) Limited has responded to a clarification request from the National Stock Exchange dated April 9, 2026, regarding significant price volatility in its shares. The company stated that it has consistently made all necessary disclosures under Regulation 30 of SEBI (LODR) Regulations, 2015. Management confirmed that there is no pending information or announcement that would have a bearing on the company's share price. This response indicates that the recent price movement is likely driven by market factors rather than undisclosed corporate developments.

NSE issued a surveillance letter (Ref: NSE/CM/Surveillance/16737) on April 9, 2026, regarding price movement.
Vinyl Chemicals submitted its formal response on April 10, 2026, denying any undisclosed material information.
The company reaffirmed its compliance with SEBI (LODR) Regulations, 2015, specifically Regulation 30.
Management stated that all information having a bearing on the share price has already been disclosed to the exchanges.

💡 Investors should note that the recent price volatility lacks a fundamental corporate trigger according to the company. Exercise caution and avoid speculative trading based on rumors, focusing instead on upcoming quarterly results for fundamental direction.

Vinyl Chemicals (India) Promoters Declare Zero Pledged Shares for FY 2025-26

🟢 POSITIVE ⭐ 4/10

ROUTINE 📅 09 Apr 2026, 02:48 PM

Vinyl Chemicals (India) Limited has submitted a formal declaration under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing confirms that the promoters and the promoter group have not encumbered or pledged any of their shares, directly or indirectly, during the financial year. This is a standard annual compliance disclosure that reinforces the transparency of the company's shareholding structure. It indicates that the promoter's stake remains free of any liens or debt-related obligations.

Compliance with Regulation 31(4) of SEBI (SAST) Regulations, 2011 for the financial year.
Promoters and Promoter Group confirm zero encumbrance on their total shareholding.
The declaration ensures no shares were used as collateral for loans or other financial arrangements.
Submission made to both BSE and NSE as part of annual regulatory requirements.

💡 Investors can take comfort in the fact that the promoter holding is unencumbered, which is a sign of financial health. No specific action is required as this is a routine regulatory filing.

Vinyl Chemicals (India) Ltd: Trading Window Closure from March 31, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Mar 2026, 10:47 AM

Vinyl Chemicals (India) Limited has announced the closure of its trading window starting March 31, 2026. This action is taken in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The window will remain closed until 48 hours after the declaration of the audited financial results for the quarter and year ending March 31, 2026. This is a standard regulatory requirement for all listed companies in India to prevent insider trading prior to financial disclosures.

Trading window closure effective from March 31, 2026.
Closure pertains to the audited financial results for Q4 and FY ending March 31, 2026.
Window to reopen 48 hours after the official declaration of results.
Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 This is a routine administrative update and requires no specific action from retail investors. Investors should await the announcement of the board meeting date for the upcoming Q4 and FY26 financial results.

Vinyl Chemicals Shareholders Approve Appointment of Two Directors with 99.97% Majority

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 16 Mar 2026, 12:02 PM

Vinyl Chemicals (India) Limited has announced the successful passage of two key resolutions via postal ballot with an overwhelming 99.97% majority. Shareholders approved the appointment of Shri Kavinder Singh as a Non-Executive and Non-Independent Director. Additionally, Ms. Gira Sardesai was appointed as an Independent Director for a five-year term effective from February 2, 2026, through February 1, 2031. These appointments strengthen the company's board governance following the conclusion of the voting process on March 5, 2026.

Appointment of Shri Kavinder Singh as Non-Executive Director approved with 93,21,500 votes in favor (99.97%)
Ms. Gira Sardesai appointed as Independent Director for a 5-year term ending February 1, 2031
Both resolutions faced negligible opposition with only 3,043 votes (0.0326%) cast against them
The voting period was conducted via remote e-voting between February 4 and March 5, 2026

💡 These are routine board appointments that reflect strong shareholder confidence in the management's selection. No immediate action is required as these changes are unlikely to impact short-term stock performance.

Vinyl Chemicals Shareholders Approve Two New Director Appointments with 99.9% Majority

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 06 Mar 2026, 03:26 PM

Vinyl Chemicals (India) Limited has successfully passed two resolutions via postal ballot for board appointments. Shareholders approved the appointment of Shri Kavinder Singh as a Non-Executive Director and Ms. Gira Sardesai as an Independent Director. Both resolutions received overwhelming support, with 99.96% of the votes cast in favor. The voting process concluded on March 5, 2026, with a total of 9,324,543 votes polled, representing approximately 50.85% of the company's outstanding shares.

Appointment of Shri Kavinder Singh as Non-Executive Director approved with 99.9674% votes in favor.
Appointment of Ms. Gira Sardesai as Independent Director approved via special resolution with 99.9674% support.
Total votes polled amounted to 9,324,543, representing 50.85% of the total share capital.
Promoter group cast 9,223,003 votes, all of which were 100% in favor of both resolutions.
The resolutions are deemed approved as of the last date of e-voting, March 5, 2026.

💡 No immediate action is required as these are standard board appointments. Investors should note the high level of shareholder consensus which indicates stability in the company's governance.

Vinyl Chemicals Seeks Shareholder Approval for New Board Appointments via Postal Ballot

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 03 Feb 2026, 11:41 AM

Vinyl Chemicals (India) Limited has initiated a postal ballot process to seek shareholder approval for two key board appointments. The company is proposing the appointment of Shri Kavinder Singh as a Non-Executive and Non-Independent Director and Ms. Gira Sardesai as an Independent Director for a five-year term. The e-voting period is scheduled to run from February 4, 2026, to March 5, 2026, with the final results expected by March 6, 2026. These appointments are intended to strengthen the board's governance and oversight capabilities.

Proposed appointment of Shri Kavinder Singh as a Non-Executive and Non-Independent Director.
Proposed appointment of Ms. Gira Sardesai as an Independent Director for a 5-year term ending February 1, 2031.
E-voting period set from February 4, 2026, to March 5, 2026, for all eligible shareholders.
The cut-off date for determining shareholder voting eligibility was January 23, 2026.
Final results of the postal ballot will be declared on or before March 6, 2026.

💡 Investors should monitor the voting results to confirm the new board composition, though these are routine governance appointments. No immediate portfolio changes are recommended based on this administrative update.

Vinyl Chemicals Q3 FY26 Revenue Up 15.8% YoY to ₹169 Cr; Net Profit Declines 9.8% to ₹4.52 Cr

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 21 Jan 2026, 04:11 PM

Vinyl Chemicals (India) Limited reported a 15.8% YoY growth in revenue from operations to ₹169.48 crore for the quarter ended December 2025. However, net profit for the quarter saw a 9.8% YoY decline to ₹4.52 crore, largely due to a one-time impact of ₹1.85 crore related to the implementation of new Labour Codes. On a sequential basis, the company showed strong recovery with profit rising 57% from ₹2.88 crore in Q2 FY26. The 9-month net profit remains lower at ₹11.85 crore compared to ₹15.06 crore in the previous year.

Revenue from operations increased 15.8% YoY to ₹169.48 crore in Q3 FY26.
Net profit for the quarter stood at ₹4.52 crore, down from ₹5.01 crore in Q3 FY25.
Employee benefit expenses included a ₹1.85 crore incremental impact from new Labour Code regulations.
9-month total income rose to ₹480.44 crore, up from ₹457.19 crore in the prior year period.
Basic EPS for the quarter was ₹2.47, compared to ₹2.74 in the same period last year.

💡 Investors should note that the profit dip was partially due to a one-time regulatory adjustment in employee benefits; focus should remain on VAM trading margins and volume growth in upcoming quarters.

Vinyl Chemicals Q3 PAT Rises 57% QoQ to ₹4.52 Cr; Revenue Up 16% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 21 Jan 2026, 12:39 PM

Vinyl Chemicals (India) Limited reported a strong sequential recovery in Q3 FY26, with revenue from operations growing 11.6% QoQ to ₹169.48 crore. Net Profit increased significantly by 57% from the previous quarter to ₹4.52 crore, although it remains slightly lower than the ₹5.01 crore reported in Q3 FY25. The company's bottom line was impacted by a one-time incremental expense of approximately ₹1.85 crore related to the implementation of new Labour Codes. Despite this, the operational performance showed resilience in the chemical trading segment.

Revenue from operations grew 15.8% YoY to ₹169.48 crore in Q3 FY26.
Net Profit (PAT) stood at ₹4.52 crore, a 57% jump from ₹2.88 crore in Q2 FY26.
Nine-month PAT declined to ₹11.85 crore compared to ₹15.06 crore in the previous year's corresponding period.
Employee benefit expenses included a ₹1.85 crore impact due to the notification of new Labour Codes.
Earnings Per Share (EPS) for the quarter improved to ₹2.47 from ₹1.58 in the preceding quarter.

💡 Investors should focus on the strong sequential recovery in margins and revenue, which suggests improving demand in the chemical trading space. However, the year-on-year decline in nine-month profits warrants a cautious approach regarding long-term growth consistency.

Vinyl Chemicals Q3 PAT at ₹4.52 Cr; Revenue Grows 15.7% YoY to ₹169.48 Cr

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 21 Jan 2026, 11:05 AM

Vinyl Chemicals (India) Limited reported a 15.7% YoY growth in revenue from operations, reaching ₹169.48 crore for the quarter ended December 31, 2025. While Net Profit declined 9.8% YoY to ₹4.52 crore, it showed a significant sequential recovery of 57% compared to the previous quarter. The bottom line was impacted by a one-time provision of approximately ₹1.85 crore related to the implementation of new Labour Codes. The company continues to operate as a single-segment entity focused on chemical trading.

Revenue from operations increased to ₹169.48 crore, up from ₹146.40 crore in the same quarter last year.
Net Profit for the quarter stood at ₹4.52 crore, compared to ₹5.01 crore YoY and ₹2.88 crore QoQ.
Employee benefit expenses rose significantly to ₹3.34 crore due to a ₹1.85 crore one-time impact from new Labour Code regulations.
Nine-month PAT for FY26 stands at ₹11.85 crore, down from ₹15.06 crore in the corresponding period of the previous year.
Earnings Per Share (EPS) for the quarter was ₹2.47, a recovery from ₹1.58 in the preceding quarter.

💡 Investors should monitor the sequential improvement in margins and revenue growth, while noting that the YoY profit dip was largely due to a one-time regulatory provision. The stock remains a stable play within the chemical trading space with close ties to the Pidilite ecosystem.

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💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment: Trading in Chemicals. Total expenses, a proxy for trading volume, increased by 4.91% from INR 571.79 Cr in FY24 to INR 599.85 Cr in FY25. Profit Before Tax grew by 2.47% from INR 29.67 Cr to INR 30.40 Cr.

Profitability Margins

Operating Profit Margin declined from 5.69% in FY24 to 5.28% in FY25. Net Profit Margin decreased from 5.20% to 5.09%. The decline is attributed to higher average debtors and fluctuations in chemical prices affecting the spread.

EBITDA Margin

Operating Profit Margin was 5.28% in FY25, down 41 basis points from 5.69% YoY. Core profitability is sensitive to the price spread of Vinyl Acetate Monomer (VAM) and foreign exchange rates.

Capital Expenditure

Minimal capital expenditure was recorded. INR 0.05 Cr (INR 5 Lakhs) was spent on Property, Plant & Equipment in FY25. Total PPE value stood at INR 0.52 Cr as of March 31, 2025.

Credit Rating & Borrowing

The company has non-current borrowings of INR 0.49 Cr. Working capital limits in excess of INR 5 Cr have been sanctioned by banks against current assets. Specific interest rates and credit ratings were not disclosed.

⚙️ Operational Drivers

Raw Materials

As a trading company, the primary 'raw material' or stock-in-trade is Vinyl Acetate Monomer (VAM), which constitutes the bulk of the INR 599.85 Cr total expenses.

Import Sources

The company imports chemicals for trading in India; however, specific source countries were not disclosed in the documents.

Capacity Expansion

Not applicable as the company is engaged in trading activities rather than manufacturing. It maintains a lean operation with 13 employees.

Raw Material Costs

Total expenses (primarily purchase of stock) rose 4.91% YoY to INR 599.85 Cr. Procurement costs are highly sensitive to global VAM prices and USD/INR exchange rates.

Manufacturing Efficiency

Not applicable for trading operations. Efficiency is measured via turnover ratios.

📈 Strategic Growth

Growth Strategy

The company focuses on maintaining its position in the VAM trading market. Growth is dependent on the demand for VAM in India and the company's ability to manage the price and currency risks associated with imports. It maintains a high current ratio (1.93) to support trading liquidity.

Products & Services

Trading of chemicals, primarily Vinyl Acetate Monomer (VAM).

Market Share & Ranking

The company is one of approximately 15 regular importers of VAM in India. Specific market share percentage was not disclosed.

🌍 External Factors

Industry Trends

The industry is characterized by a large number of active trading companies. The VAM market in India is competitive with 15 regular importers. Future outlook depends on the growth of end-user industries like adhesives and coatings.

Competitive Landscape

Highly competitive with approximately 15 regular importers of VAM in India.

Competitive Moat

The company's moat is based on its established relationships in the chemical trading market and its lean cost structure (only 13 employees). However, as a pure trader, it lacks a strong manufacturing or patent-based moat.

Macro Economic Sensitivity

Highly sensitive to global chemical demand cycles and USD/INR exchange rate volatility due to the import-dependent nature of the business.

Consumer Behavior

Demand is driven by industrial users of VAM; shifts in industrial production in India directly affect trading volumes.

Geopolitical Risks

Trade barriers or supply chain disruptions in VAM-producing regions would impact the company's ability to source material and maintain trading volumes.

⚖️ Regulatory & Governance

Industry Regulations

The company must comply with chemical import regulations and safety standards for handling and storage of VAM. Cost records under Section 148(1) are not applicable.

Taxation Policy Impact

The effective tax rate for FY25 was 26.54%, with a total tax expense of INR 8.07 Cr on a Profit Before Tax of INR 30.40 Cr.

Legal Contingencies

The company has disclosed pending litigations in Note 33 of its financial statements. Specific case values were not provided in the summary documents.

⚠️ Risk Analysis

Key Uncertainties

Foreign currency fluctuation and chemical price volatility are the primary risks, potentially impacting margins by 5-10% in volatile periods.

Third Party Dependencies

High dependency on global VAM producers for supply, though specific supplier names were not disclosed.

Technology Obsolescence Risk

Low risk for the core trading business, but the company has implemented audit trail features in its accounting software to meet regulatory requirements.