SK Minerals & AdditivesShare price, financial results, shareholding and management
- Market cap
- ₹545 cr
- Stock P/E
- 30.1peers 12.4
- Book value
- ₹65.4
- Price to book
- 6.80
- EV / operating profit
- -
- Market cap to sales
- 1.71
- ROCE · FY26
- 26.2%
- ROE · FY26
- 34.8%
- ROE, 3-year average
- 41.4%
- Operating margin · FY26
- 10.1%peers 5.3%
- Sales growth, 3 years
- 34.0%
- Profit growth, 3 years
- 108.5%
- Debt to equity
- 1.25peers 0.34
- Borrowings
- ₹100 cr
- Interest cover
- 6.0×
- Cash from business / op. profit
- -233%
- Debtor days
- 61
- Pledged
- 0.00%
- Promoter holding
- 73.53%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 446
- 52-week high / low
- ₹507 / ₹102
- 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.
SK Minerals & Additives share price chart
Close on 6 Nov 2026 · +1.83% on the day · Vol 21,000
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
- +0.9%
- 3 months
- -3.3%
- 6 months
- +42.1%
- 1 year
- +184.7%
- Traded a day, 20 days
- ₹0.85 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +50% | +65% |
| 3 years, a year | +34% | +109% |
About SK Minerals & Additives: business, products and customers
SK Minerals & Additives imports industrial chemicals such as base oil and urea for Indian buyers, and makes its own mineral additives for animal feed, preservatives for bakeries and a new fire-safety additive for cables. It is based in Khanna, Punjab, and its shares trade on BSE SME.
The business began as S.K. Minerals, a proprietorship of promoter Sunita Rani, and was taken over by the company in 2022. Most revenue comes from trading: base oil, technical grade urea, magnesium oxide and other chemicals are imported, held in warehouses at ports and supplied to petroleum, plywood, feed and food businesses. At its plant in Khanna it makes chelated minerals such as zinc, copper and magnesium glycinates for animal feed, calcium propionate and other preservatives for bakeries, and now a halogen-free flame retardant for wires, cables and electrical goods, backed by an R&D unit recognised by DSIR.
The business model shapes the numbers. Traded goods carry a thinner margin than products it makes, so the overall margin depends on the mix, and revenue swings with world chemical prices and shipping. Imports are often paid in advance and stocked for months while customers take credit, so a lot of money is tied up and borrowings rise with sales. A large part of purchases goes through Synergy Trade Links DMCC in Dubai, a related party that the company registered there to procure goods.
Read more about the business
The offer document says there are no listed companies comparable to it. Customers include PSUs, cooperatives and multinational companies across food and bakery, animal feed, petroleum, plywood and wire and cable.
What is new: the company listed on BSE SME in October 2025, has set up a plant for halogen-free flame retardants that is in trials with customers, and has acquired about ten acres of land to expand polymer additive capacity.
From the offer document (red herring prospectus, October 2025), the FY26 annual report, the May 2026 earnings call and the Crisil Ratings notes of April 2025 and April 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 34% a year over three years.
- It earns a high return on the money it uses: ROCE 26% in FY26.
- The promoters own a large part of the company: 73.53%.
To watch
- Commercial sales from the halogen-free flame retardant plant, expected within three to six months of the May 2026 call (Earnings call, May 2026, p.5 and p.7).
- Purchases from and advances to Synergy Trade Links DMCC, for which shareholder approval of up to ₹600 cr a year was sought (Annual report FY26, p.117 and p.137).
- Borrowings and operating cash flow after FY26 (Annual report FY26, p.86 and p.88).
- The ₹20 cr of capital spending planned for FY27 and FY28 on the new land (Earnings call, May 2026, p.4 and p.13).
- Customers take longer to pay than before: 61 days in FY26, against 50 in FY22.
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.
SK Minerals & Additives revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months.
SK Minerals & Additives half-yearly results
SME companies report every six months · ₹ crore
| H1FY26 | H2FY26 | |
|---|---|---|
| Sales | 109.89 | 208 |
| Expenses | 97.96 | 187.79 |
| Operating profit | 11.93 | 20.21 |
| OPM | 10.9% | 9.7% |
| Interest | 2.12 | 3.28 |
| Depreciation | 0.50 | 0.41 |
| Profit before tax | 9.57 | 17.60 |
| Net profit | 7.02 | 11.11 |
SK Minerals & Additives profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 121 | 132 | 109 | 212 | 317.89 |
| Expenses | 119 | 128 | 102 | 193 | 285.75 |
| Operating profit | 2 | 4 | 7 | 19 | 32.14 |
| OPM | 1.8% | 3.0% | 6.0% | 9.0% | 10.1% |
| Other income | 1 | 0 | 0 | 0 | 1.35 |
| Interest | 0 | 1 | 2 | 3 | 5.40 |
| Depreciation | 0 | 1 | 1 | 1 | 0.91 |
| Exceptional and other items | -1 | 1 | · | · | · |
| Profit before tax | 2 | 3 | 4 | 15 | 27.18 |
| Tax rate | 0.0% | 33.3% | 25.0% | 26.7% | 33.3% |
| Net profit | 2 | 2 | 3 | 11 | 18.12 |
| EPS ₹ | 1,670 | 11.81 | 6.20 | 12.16 | · |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Earnings per share is left blank where the source shows zero against a profit.
Earnings per share before FY23 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
SK Minerals & Additives profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as 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
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 1.8% | 3.0% | 6.0% | 9.0% | 10.1% |
| Tax rate | 0.0% | 33.3% | 25.0% | 26.7% | 33.3% |
| ROCE | · | 17.8% | 15.2% | 30.8% | 26.2% |
| ROE | · | 40.0% | 30.0% | 59.5% | 34.8% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
SK Minerals & Additives debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are now larger 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.
SK Minerals & Additives balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 0.01 | 2 | 5 | 9 | 12 |
| Reserves | 3 | 5 | 8 | 15 | 68 |
| Net worth | 3.01 | 7 | 13 | 24 | 80 |
| Borrowings | 11 | 24 | 35 | 45 | 100 |
| Other liabilities | 10.99 | 7 | 6 | 6 | 6 |
| Total liabilities | 25 | 38 | 54 | 75 | 186 |
| Fixed assets | 2 | 2 | 5 | 5 | 23 |
| Capital work in progress | 0 | 1 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 2 | 25 |
| Other assets | 23 | 35 | 49 | 68 | 138 |
SK Minerals & Additives cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | -4 | -11 | -9 | -3 | -75 |
| Cash from investing | -2 | -2 | -2 | -1 | -18 |
| Cash from financing | 6 | 14 | 13 | 7 | 89 |
| Net cash flow | 0 | 1 | 2 | 3 | -4 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 50 | 22 | 59 | 48 | 61 |
| Inventory days | 10 | 13 | 31 | 41 | 36 |
| Days payable | 8 | 7 | 0 | 0 | 0 |
| Cash conversion cycle | 52 | 28 | 89 | 89 | 97 |
| Working capital days | 8 | 25 | 27 | 31 | 50 |
SK Minerals & Additives peers and competitors
Listed SME companies in the same industryBy sales, SK Minerals & Additives is number 6 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 |
|---|---|---|---|---|---|---|
| SK Minerals & Additives | 545 | 30.1 | 318 | 18.1 | 10.1% | 1.25 |
| Nexxus Petro Industries | 45 | 7.5 | 262 | 6 | 4.6% | 0.54 |
| AMBANI ORGOCHEM | 137 | 102.9 | 241 | 1.3 | 5.6% | 1.35 |
| Dhariwalcorp | 240 | 27.9 | 236 | 8.6 | 2.6% | 0.12 |
| Beezaasan Explotech | 1,117 | 85.9 | 212 | 13 | 10.0% | 0.24 |
| Indian Emulsifiers | 72 | 4.4 | 160 | 16.3 | 16.2% | 0.37 |
| Bhatia Colour Chem | 34 | 8.4 | 155 | 4 | 5.0% | 0.02 |
| Sacheerome | 1,030 | 36.8 | 152 | 28 | 24.0% | 0.00 |
| Aureate Tradde | 62 | 12.4 | 150 | 5 | 6.0% | 1.89 |
| Unilex Colours and Chemicals | 42 | 5.1 | 145 | 8.2 | 2.6% | 0.31 |
| Ushanti Colour Chem | 278 | - | 139 | -5 | 0.2% | 1.08 |
| Median of the 10 others | 105 | 12.4 | 157 | 7.1 | 5.3% | 0.34 |
SK Minerals & Additives shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
SK Minerals & Additives 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.
| Oct 25 | Mar 26 | |
|---|---|---|
| Promoters | 73.53% | 73.53% |
| Foreign investors (FIIs) | 3.22% | - |
| Indian institutions (DIIs) | 10.66% | - |
| Number of shareholders | 707 | 446 |
SK Minerals & Additives study: the business from its own documents
Read from 6 of the company's own documentsSK Minerals & Additives key facts from the filings
Each figure with the document it comes from
- Revenue
- ₹317.9 cr
- Revenue from operations in FY26, up from ₹211.7 cr in FY25; profit after tax was ₹18.1 cr.Annual report FY26, p.34
- Traded goods
- 77%
- Share of FY26 revenue from traded goods; the products it makes gave ₹73.1 cr.Annual report FY26, p.98; our arithmetic
- Gross margin by type
- 30% vs 21%
- Gross margin on manufactured products against traded products, as the managing director put it.Earnings call, May 2026, p.11
- Order book
- ₹55 cr
- Orders in hand at the May 2026 call, of which ₹42 cr were from government customers.Earnings call, May 2026, p.5
- Plant use
- About 95%
- Use of the food and feed additive lines, out of a combined installed capacity of 6,600 tonnes.Earnings call, May 2026, p.5; Annual report FY26, p.9
Show 5 more facts
- Top ten customers
- 61.26%
- Share of FY25 revenue; the largest customer gave 20.94%.Offer document, p.43
- Related-party purchases
- ₹54.3 cr
- Goods bought in FY26 from firms under the same management, including Synergy Trade Links DMCC.Annual report FY26, p.112
- Advance to Synergy
- ₹20.1 cr
- Advance paid to the related party Synergy Trade Links DMCC for material, at March 2026, up from ₹3.9 cr.Annual report FY26, p.117
- Cash from operations
- -₹74.6 cr
- Operating cash flow in FY26 as receivables, stock and supplier advances grew; borrowings rose to ₹100.3 cr.Annual report FY26, p.86 and p.88
- Credit rating
- Crisil BBB
- Long-term rating upgraded in April 2026 with a stable outlook, on bank facilities raised to ₹110 cr.Crisil Ratings note, April 2026, p.1
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
On the May 2026 call the managing director said the company had orders of about ₹55 cr, mostly yearly government contracts. The new flame retardant plant was facing teething problems and was expected to run fully within three to six months, with trials under way at five customers. The company plans about ₹20 cr of capital spending in FY27 and FY28 on polymer additive capacity on its new land, funded from bank credit lines and issue money, and aims to raise the share of revenue from products it makes from about a quarter to half in two to three years.
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.
The company earns mostly on importing and passing on industrial chemicals, plus a better margin on the feed and food additives it makes itself.
Its weak spots are heavy use of borrowed money to carry imports and customer credit, and large dealings with a related company in Dubai.
AverageCan it set its own prices?Traded chemicals follow world prices, but its own additives carry a better margin and the new flame retardant has few local rivals by the company's account.
AverageHow strong is it against rivals?An approved R&D unit and in-house formulations set its made products apart, but the larger trading side faces intense competition.
AverageWho are its customers?Businesses and government buyers across several industries, with the ten largest giving well over half of revenue.
WatchDoes it need a lot of money?Yes: imports are paid ahead and held in stock while customers take credit, and the gap is funded with debt.
AverageCan it keep finding new work?It has an order book and new products in trial, but private orders are short and the flame retardant has no sales in volume yet.
WatchDo good and bad years swing a lot?Revenue has fallen and risen sharply in recent years with trading volumes and chemical prices.
Who runs SK Minerals & Additives?
Promoters, directors and officers; tap a name for the background
MJMohit JindalPromoter, Chairman and Managing Director
Company secretary (ICSI, 2009) and commerce graduate from Panjab University (2006), with a certificate in innovation and corporate strategy from IIM Ahmedabad (2024); 15 years in specialty chemicals, leading the company since 2014.
Offer document, p.241; Annual report FY26, p.32RJRohit JindalPromoter and Executive Director
Commerce graduate and founder member who joined in 2011; leads production, planning, procurement, R&D and supply chain, with 15 years in specialty chemicals. The offer document records Rohit Jindal as the brother of Mohit Jindal.
Offer document, p.242 and p.243; Annual report FY26, p.32SJShubham JindalPromoter and Executive Director
Arts graduate (2016) who joined the business in 2017 and leads import and merchant trading, sales and business development. The offer document records Shubham Jindal as a cousin of Mohit Jindal and Rohit Jindal.
Offer document, p.242 and p.243; Annual report FY26, p.32SRSunita RaniPromoter
Was the sole proprietor of S.K. Minerals, the firm whose business the company took over, with 15 years in specialty chemicals. The offer document records Sunita Rani as the mother of Mohit Jindal and Rohit Jindal.
Offer document, p.258 and p.262RSRamit SikkaIndependent Director
Chartered accountant since 2011 with over 14 years in financial and strategic advisory, taxation and audit; chairs the audit committee.
Offer document, p.243; Annual report FY26, p.33LSLakshmi Shankarnarayanan IyerIndependent Director
PhD from IIM Indore (2020) and PGDM from IIM Calcutta (2009), with about two decades of experience; assistant professor at IIM Ahmedabad since 2024.
Offer document, p.242; Annual report FY26, p.33AMAshish MathurIndependent Director
Researcher with over 15 years in nanotechnology and biosensing, more than 150 research papers and 26 Indian patents filed.
Annual report FY26, p.33KKKapil KheraIndependent Director
Commerce graduate from the University of Delhi and law graduate from Bundelkhand University, with 25 years of work experience; on the board since April 2025.
Offer document, p.243 and p.246NKNeeraj Kumar TuliChief Financial Officer
Chartered accountant since 1998 and commerce graduate from Punjab University (1986).
Offer document, p.255SK Minerals & Additives latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 31 March 2026: promoters unchanged at 73.53%.
SK Minerals & Additives announcements
5 on record, latest first; each opens the filing on the exchange
- Company UpdateCompliance Certificate under Reg. 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended 30th September, 2026PDF ↗
- AGM/EGMVoting Results along with Scrutinizer''s Report dated 03.10.2026 - 04th Annual General Meeting of the CompanyPDF ↗
- Company UpdateAnnouncement under Regulation 30 of SEBI (LODR) Regulations, 2015 - Change in ManagementPDF ↗
- AGM/EGMProceeding of the 4th Annual General Meeting of the Company held on 30th September, 2026PDF ↗
- Insider Trading / SASTThe Trading Window for dealing in securities of the company shall remain closed w.e.f October 01, 2026 until 48 hours after declaration of un-audited financial PDF ↗
SK Minerals & Additives annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 June 2026 ↗read
- 3 April 2025 ↗read
- Credit ratings ↗read
SK Minerals & Additives 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 SK Minerals & Additives' data · 8
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 (1,22,40,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓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 changes basis between FY22 (₹1,670.00) and FY23 (₹11.81) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about SK Minerals & Additives
What does SK Minerals & Additives do?
SK Minerals & Additives imports industrial chemicals such as base oil and urea for Indian buyers, and makes its own mineral additives for animal feed, preservatives for bakeries and a new fire-safety additive for cables. It is based in Khanna, Punjab, and its shares trade on BSE SME.
What is the share price of SK Minerals & Additives?
₹445 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of SK Minerals & Additives?
₹545 cr at the close on 6 Nov 2026, on 1,22,40,000 shares.
What is the P/E of SK Minerals & Additives?
30.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are SK Minerals & Additives' revenue and profit?
Revenue ₹318 cr and profit after tax ₹18 cr in FY26.
Who are the promoters of SK Minerals & Additives?
Mohit Jindal, Rohit Jindal, Shubham Jindal, Sunita Rani; promoters held 73.53% at 31 March 2026.
What is SK Minerals & Additives' website?
www.skminerals.net
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Built from 2 annual reports, 2 credit rating notes, 1 offer document, 1 earnings call transcript, 5 exchange announcements, 2 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.