Biopol ChemicalsShare price, financial results, shareholding and management
- Market cap
- ₹51 cr
- Stock P/E
- 5.7peers 15.1
- Book value
- ₹46.2
- Price to book
- 1.02
- EV / operating profit
- 4.4
- Market cap to sales
- 0.63
- ROCE · FY26
- 34.1%
- ROE · FY26
- 28.2%
- ROE, 3-year average
- 33.0%
- Operating margin · FY26
- 16.6%peers 10.4%
- Sales growth, 3 years
- +64.9%
- Profit growth, 3 years
- +108.1%
- Debt to equity
- 0.17peers 0.32
- Borrowings
- ₹8.5 cr
- Interest cover
- 8.9×
- Cash from business / op. profit
- -95%
- Debtor days
- 125
- Pledged
- 0.00%
- Promoter holding
- 65.81%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 368
- High / low since listing
- ₹134 / ₹40
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Biopol Chemicals share price chart
Close on 6 Nov 2026 · +7.80% on the day · Vol 15,600
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -10.0%
- 3 months
- -53.9%
- 6 months
- -58.1%
- Since IPO
- -56.5%
- Traded a day, 20 days
- ₹0.05 cr
- Taken for delivery
- 87%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +65% | +108% |
| 3 years, a year | - | - |
| Latest half, H2 FY26 | +46% | +101% |
About Biopol Chemicals: business, products and customers
Biopol Chemicals makes and trades speciality chemicals, mainly silicone softeners and finishes used by textile mills, along with bases for cleaning products, farm sprays and industrial release agents, from a plant near Kolkata. Its shares trade on NSE Emerge.
Biopol Chemicals grew out of United Chemical Company, a sole proprietorship that Santanu Sarkar started in April 2005; the company was formed in April 2023 and took over that business from 30 September 2023. It makes 66 products in four families: silicone based products, emulsifiers, biochemicals and polyelectrolytes. Most go into textile wet processing as softeners, finishes, binders and dyeing aids, and the rest into detergents and floor cleaners, pesticide formulations and release agents for moulds.
Production happens in one leased two storey unit at Agarpara, North 24 Parganas, with two reactors, a homogeniser, a blender and mixers; the registered office is in Ahmedabad. It sells business to business, directly and through eight distributors, mostly to customers in West Bengal, and exports to Bangladesh. It also gives technical advice on how to use its chemicals.
Read more about the business
About a third of sales is trading: when the plant is full or a customer wants a grade it does not make, it supplies chemicals made by others, such as Wacker and Suprafix. Traded goods carry the full purchase price in revenue, so a larger trading share lifts sales more than profit. Stock and money owed by customers have grown faster than profit, so cash from operations was negative in FY24, FY25 and the nine months to December 2025, and the gap was filled with bank and finance company loans before the share issue.
The offer document lists Rossari Biotech, Fineotex Chemical and Indian Emulsifiers as the listed companies it compares itself with, all of them makers of textile and speciality chemicals, while also saying it has no exact Indian peer with a similar business.
From the offer document (Prospectus, February 2026) and the company's exchange announcements of August and September 2026.
Read the deeper study ↓In its favour
- Sales have grown very fast: 65% a year last year.
- It earns a high return on the money it uses: ROCE 34% in FY26.
- It has little debt for its size: debt to equity 0.17.
- The promoters own a large part of the company: 65.81%.
To watch
- Results for the half year to September 2026, the first full half after listing.
- Purchase of the Vatva GIDC plot and any plan and money for the new Gujarat plant (offer document, p.150).
- Repayment of loans from the issue money and whether cash from operations turns positive (offer document, p.98).
- The resignation reported on 24 August 2026 and the independent director appointed in September 2026 (exchange announcements).
- It paid no dividend in the past year.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Biopol Chemicals revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
Biopol Chemicals half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|
| Sales | 33.85 | 31.66 | 49.49 |
| Expenses | 29.39 | 27.25 | 40.45 |
| Operating profit | 4.46 | 4.41 | 9.03 |
| OPM | 13.2% | 13.9% | 18.3% |
| Interest | 0.38 | 0.53 | 0.99 |
| Depreciation | 0.04 | 0.04 | 0.06 |
| Profit before tax | 4.04 | 3.94 | 8.11 |
| Net profit | 3 | 2.93 | 6.04 |
Biopol Chemicals profit and loss
Full years to March, FY24 to FY26 · ₹ crore, consolidated where reported
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Sales | 25.42 | 49.22 | 81.14 |
| Expenses | 20.99 | 42.67 | 67.69 |
| Operating profit | 4.43 | 6.55 | 13.45 |
| OPM | 17.4% | 13.3% | 16.6% |
| Other income | 0 | 0 | 0.23 |
| Interest | 0.39 | 0.68 | 1.52 |
| Depreciation | 0.08 | 0.09 | 0.10 |
| Profit before tax | 3.96 | 5.78 | 12.06 |
| Tax rate | 25.3% | 25.4% | 25.6% |
| Net profit | 2.96 | 4.31 | 8.97 |
| EPS ₹ | 3.74 | 5.45 | 10.83 |
| Dividend payout | 0.0% | 0.0% | 0.0% |
Biopol Chemicals profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Operating margin | 17.4% | 13.3% | 16.6% |
| Tax rate | 25.3% | 25.4% | 25.6% |
| ROCE | · | 37.9% | 34.1% |
| ROE | · | 37.8% | 28.2% |
| Dividend payout | 0.0% | 0.0% | 0.0% |
Biopol Chemicals debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Biopol Chemicals balance sheet
At each 31 March · ₹ crore
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Equity capital | 7.91 | 7.91 | 10.81 |
| Reserves | 1.29 | 5.68 | 39.12 |
| Net worth | 9.20 | 13.59 | 49.92 |
| Borrowings | 3.58 | 7.68 | 8.46 |
| Other liabilities | 4.77 | 10.40 | 11.40 |
| Total liabilities | 17.55 | 31.67 | 69.78 |
| Fixed assets | 0.21 | 0.25 | 14.24 |
| Capital work in progress | 0.06 | 0 | 0 |
| Investments | 0 | 0 | 0 |
| Other assets | 17.28 | 31.42 | 55.54 |
| Receivables | · | · | 27.79 |
| Inventory | · | · | 19.61 |
| Cash | · | · | 0.52 |
| Trade payables | · | · | 6.44 |
Biopol Chemicals cash flow
₹ crore
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Cash from operations | -6.44 | -2.41 | -12.77 |
| Cash from investing | -0.64 | -0.02 | -14.53 |
| Cash from financing | 7.14 | 3.50 | 26.67 |
| Net cash flow | 0.06 | 1.07 | -0.63 |
| Capital spending | · | · | 14.08 |
Working capital
Days
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Debtor days | 145 | 124 | 125 |
| Inventory days | 121 | 107 | 113 |
| Days payable | 78 | 78 | 37 |
| Cash conversion cycle | 189 | 153 | 201 |
| Working capital days | 127 | 95 | 179 |
Biopol Chemicals peers and competitors
Listed SME companies in the same industryBy sales, Biopol Chemicals is number 28 of the 44 listed SME companies in chemicals & petrochemicals.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Mahickra Chemicals | 280 | 55.9 | 106 | 5 | 7.0% | 0.24 |
| Arunaya Organics | 24 | 6.5 | 103 | 3.7 | 6.1% | 0.44 |
| Yasons Chemex Care | 16 | 16.7 | 96.8 | 0.9 | -0.6% | 0.32 |
| Renol Polychem | 89 | 10.7 | 90 | 8.3 | 13.1% | 0.17 |
| Shlokka Dyes | 67 | 13.5 | 81.9 | 5 | 13.9% | 0.31 |
| Biopol Chemicals | 51 | 5.7 | 81.1 | 9 | 16.6% | 0.17 |
| Shanti Inorganics | 364 | 36.4 | 71 | 10 | 22.0% | 0.63 |
| Saroja Pharma Industries India | 16 | 10.1 | 70.1 | 1.6 | 5.3% | 0.83 |
| Deepak Chemtex | 103 | 12.1 | 67.3 | 8.5 | 16.8% | 0.01 |
| Technichem Organics | 76 | 28.0 | 56.6 | 2.7 | 7.8% | 0.38 |
| Devson Catalyst | 520 | 40.0 | 56 | 13 | 30.0% | 0.06 |
| Median of the 10 others | 83 | 15.1 | 76.5 | 5 | 10.4% | 0.32 |
Biopol Chemicals shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders has come down.
Biopol Chemicals shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Feb 26 | Mar 26 | Jun 26 | |
|---|---|---|---|
| Promoters | 65.81% | 65.81% | 65.81% |
| Foreign investors (FIIs) | - | 9.30% | 4.70% |
| Indian institutions (DIIs) | 6.35% | 2.92% | 0.54% |
| HNIs (over ₹2 lakh each) | 17.45% | 3.22% | 8.95% |
| Small holders (up to ₹2 lakh) | - | 4.45% | 8.46% |
| Companies and others | - | 14.30% | 11.54% |
| Number of shareholders | 733 | 228 | 368 |
The named holders are at 30 June 2026, beside 31 March 2026, each under the group the pattern files them in.
Biopol Chemicals study: the business from its own documents
Read from 1 of the company's own documentsBiopol Chemicals so far
From the company's own record
- 13 Feb 2026Listed on NSE Emerge at ₹108
- 28 Aug 2026An order announced
- 30 June 2026Promoters at 65.81%
- 15 May 2026Highest close since listing, ₹128.00
Biopol Chemicals key facts from the filings
Each figure with the document it comes from
- Plant capacity
- 18.25 lakh litres a year
- One leased plant near Kolkata, counted on a single eight hour shift; a second reactor added in February 2024 raised it from 10.95 lakh litres.Offer document, p.143, p.148 and p.157
- Plant use
- 87.3%
- Capacity used in the nine months to December 2025, after 93.6% in FY25 and 97.2% in FY24.Offer document, p.157
- Largest customer
- 36.5% of sales
- Share of revenue in the nine months to December 2025; the top ten customers gave 87.4%, up from 68.3% in FY23.Offer document, p.166 and p.167
- Largest supplier
- 58.9% of purchases
- Share of purchases from one supplier in the nine months to December 2025; the top ten gave 96.6%.Offer document, p.153
- Traded goods
- 32.7% of sales
- Revenue from trading other makers' chemicals in the nine months to December 2025; the plant's own products gave 67.3%.Offer document, p.148
Show 5 more facts
- Textile chemicals
- 62.7% of sales
- Share in the nine months to December 2025, down from 84.6% in FY25 as home care rose to 18.8% and industrial chemicals to 15.5%.Offer document, p.147
- Sales in West Bengal
- 87.6%
- Share of revenue in the nine months to December 2025, against 14.0% in FY24; Gujarat fell from 64.7% in FY24 to 0.3%.Offer document, p.142 and p.152
- Exports to Bangladesh
- ₹5.9 cr
- Revenue from Bangladesh in the nine months to December 2025, 12.1% of sales and the only export market.Offer document, p.149 and p.152
- Order book
- ₹13.3 cr
- Confirmed orders on 16 January 2026, mostly silicones for West Bengal; orders are usually filled in one to three months.Offer document, p.148
- Issue money
- ₹12.3 cr for land
- For a plot in Vatva GIDC, Ahmedabad, for a new plant, beside ₹11.1 cr to repay loans, from a ₹31.3 cr issue.Offer document, p.98 and p.150
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says it plans to purchase an industrial plot in Vatva GIDC, Ahmedabad, with issue money and set up a new manufacturing unit there to add to the Kolkata plant, and to repay part of its loans. It reported a confirmed order book on 16 January 2026 and said it would take part in dye and chemical fairs in Sri Lanka and Bangladesh in 2026; on 5 September 2026 it announced its participation in the Dye+Chem Bangladesh 2026 expo. The offer document gives no date or cost for building the new plant. These are the company's statements, not newboard's.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Biopol earns a margin on chemicals it blends in one small plant near Kolkata, and a thinner one on chemicals it sources from other makers when the plant is full.
Its weak spots are that one customer and one supplier carry a large part of the business, and that profit has been tied up in stock and unpaid bills instead of coming in as cash.
WatchCan it set its own prices?It sells into a crowded market where buyers compare on cost and delivery, and a third of what it sells is other makers' product.
AverageHow strong is it against rivals?Certified grades and technical support help it keep textile customers, but it is very small next to the companies it names as peers.
WatchWho are its customers?Textile mills and chemical users, mostly in West Bengal, with one customer giving over a third of sales.
WatchDoes it need a lot of money?Little for machines, since the plant is leased, but a lot for stock and money owed by customers, and cash from operations has been negative.
AverageCan it keep finding new work?Most sales come from repeat customers and it is adding home care and industrial uses, but orders in hand cover only a few months.
WatchDo good and bad years swing a lot?Demand follows the textile trade, and its margins, customers and regions have moved a lot from one year to the next.
Who runs Biopol Chemicals?
Promoters, directors and officers; tap a name for the background
SSSantanu SarkarPromoter, Chairman and Managing Director · holds 64.14%
Bachelor's degree in Chemical Engineering from Ravishankar University, Raipur (1989), with more than twenty years in chemical manufacturing; ran the business as the sole proprietorship United Chemical Company from 2005 until the company took it over in 2023. First director from April 2023 and Chairman and Managing Director for five years from 31 May 2024. The offer document records a disqualification under Section 164(2) of the Companies Act from November 2017 to October 2022 as a director of Subham Infracon Limited, which had not filed its accounts and returns.
Offer document, p.43, p.183 and p.185VSVedant SarkarPromoter and Whole Time Director · holds 1.67%
Senior Secondary from the National Institute of Open Schooling (2018). Handled day to day administration at United Chemical Company, director since 11 August 2023 and Whole Time Director for five years from 31 May 2024; oversees administration and coordinates sales and technical work. The offer document lists Santanu Sarkar as father.
Offer document, p.168, p.183, p.185 and p.186SCSandip ChoudhuryChief Financial Officer
B.Com. (Honours) from Calcutta University and an MBA from Sikkim Manipal University; with the business since March 2022 as finance and import export manager, and Chief Financial Officer from 17 June 2024. Earlier worked at Sarbani Ventures.
Offer document, p.194GMGaurav MittalIndependent Director
Chartered Accountant (2012) with about twelve years in finance and sales accounting at Wonder Cement, Ambuja Cements and JK Lakshmi Cement. Appointed from September 2025; chairs the audit committee.
Offer document, p.184, p.185 and p.189PPPreety Priya GhoshIndependent Director
B.Sc. (Hons.) in Computer Science from Tilka Manjhi Bhagalpur University; partner in a technical and financial consultancy firm and an independent director of Prizor Viztech. On the board since February 2024; chairs the nomination and remuneration committee.
Offer document, p.183, p.185 and p.193Biopol Chemicals latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹49.5 cr (+46%), net profit ₹6 cr (+101%) on H2 FY25.
- Shareholding, 30 June 2026: promoters unchanged at 65.81%.
- 28 Aug 2026: an order announced.
Biopol Chemicals announcements
24 on record, latest first; each opens the filing on the exchange
- Quarterly Compliance Report on Corporate governance - within 21 days from the enNon-Applicability of Corporate Governance Report under Regulation 27(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Submission of Certificate under Regulation 74(5) of SEBI (Depositories and Participants)Regulations, 2018, for the quarter and half year ended September 30, 202PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Shareholders meetingVoting Results in respect of the 03rd Annual General Meeting of the Company along with the Scrutinizer's ReportPDF ↗
- General UpdatesRegularisation of appointment of Mr. Sukhomoy Das (DIN: 11761165) as an Independent Director of the Company for a first term of five consecutive yearsPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 22, 2026 at 02:00 P.M. IST, through video conferencing and other audio-visual means via ZOOM PlatformPDF ↗
- Updates'Participation in 53rd Dye+Chem Bangladesh 2026 INT L Expo'PDF ↗
- General UpdatesI.e. Clarification with respect to significant movement in price of our Company''s securityPDF ↗
- Price movementSignificant movement in price has been observed in Biopol Chemicals Limited. The Exchange, in order to ensure that investors have latest relevant information abPDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- General UpdatesDispatch Of Letter With Web-Link Of Annual Report For Financial Year 2025-26 to the Shareholders whose e-mail addresses are not registered with the CompanyPDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 22, 2026 at 02:00 P.M. IST through Video Conferencing ( VC )/ Other Audio Visual Means ( OAVM )PDF ↗
Biopol Chemicals annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Biopol Chemicals share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Biopol Chemicals' data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,08,05,400 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY24 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Biopol Chemicals
What does Biopol Chemicals do?
Biopol Chemicals makes and trades speciality chemicals, mainly silicone softeners and finishes used by textile mills, along with bases for cleaning products, farm sprays and industrial release agents, from a plant near Kolkata. Its shares trade on NSE Emerge.
What is the share price of Biopol Chemicals?
₹47 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Biopol Chemicals?
₹51 cr at the close on 6 Nov 2026, on 1,08,05,400 shares.
What is the P/E of Biopol Chemicals?
5.7 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Biopol Chemicals' revenue and profit?
Revenue ₹81 cr and profit after tax ₹9 cr in FY26.
Who are the promoters of Biopol Chemicals?
Santanu Sarkar, Vedant Sarkar; promoters held 65.81% at 30 June 2026.
What was the IPO price of Biopol Chemicals?
₹108 a share; it listed on 13 Feb 2026.
What is Biopol Chemicals' website?
www.biopolchemicals.com
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Every listed SME company in Chemicals & Petrochemicals → · SME companies listed in 2026 →
Built from 1 offer document, 24 exchange announcements, 3 shareholding patterns and 3 years of reported results. Every figure carries its source; where the documents are silent, the page says so.