Technichem OrganicsShare price, financial results, shareholding and management
- Market cap
- ₹75 cr
- Stock P/E
- 27.4peers 12.1
- Book value
- ₹27.9
- Price to book
- 1.54
- EV / operating profit
- -
- Market cap to sales
- 1.32
- ROCE · FY26
- 6.1%
- ROE · FY26
- 5.8%
- ROE, 3-year average
- 14.6%
- Operating margin · FY26
- 7.8%peers 18.1%
- Sales growth, 3 years
- 4.0%
- Profit growth, 3 years
- 16.3%
- Debt to equity
- 0.38peers 0.07
- Borrowings
- ₹18.2 cr
- Interest cover
- 3.2×
- Cash from business / op. profit
- 79%
- Debtor days
- 96
- Pledged
- 0.00%
- Promoter holding
- 71.95%
- Change in promoter holding
- +0.18 pts
- Shareholders
- 565
- 52-week high / low
- ₹67 / ₹34
- 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.
Technichem Organics share price chart
Close on 5 Nov 2026 · +2.38% on the day · Vol 8,000
Daily prices to 5 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 5 Nov 2026
- 1 month
- -18.9%
- 3 months
- -8.5%
- 6 months
- -8.5%
- 1 year
- -21.6%
- Traded a day, 20 days
- ₹0.07 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | -0% | -33% |
| 3 years, a year | +4% | +16% |
| Latest half, H2 FY26 | -6% | -21% |
About Technichem Organics: business, products and customers
Technichem Organics makes speciality chemicals called pyrazoles, pyrazolones and dye intermediates at its plant in Gujarat, and sells them to drug, crop protection, paint and dye makers in India and abroad. Its shares trade on the BSE SME platform.
Technichem Organics was set up in 1996 and makes a range of building block chemicals: pyrazoles, pyrazolones, pigment and dye intermediates, and products made by oxidation with dilute nitric acid. These go to makers of medicines, crop protection products, coatings, pigments and dyes, who use them as inputs for their own products. The company runs one plant at Lunej near Khambhat in Anand district, Gujarat, with an in-house laboratory that works on new products and quality.
The company buys its own raw materials, chiefly chemicals called NDMT, ACN and amide, and earns the gap between what those cost and what its products fetch. Raw materials take up most of every rupee of sales, so a small move in input prices or in selling prices shows up quickly in profit; power and fuel is the next biggest cost, which the new solar plant is meant to trim. Close to half of sales are exports, so earnings also move with the rupee, and the company books export incentives and exchange gains as other income rather than as sales.
Read more about the business
It listed on BSE SME in January 2025 after an initial public offer, and used the money to repay borrowings, for general purposes and towards a new plant, part of which was still being built at March 2026. The annual reports do not name any competitor or listed peer, and say only that rivalry from Indian and overseas makers is intense.
From the annual reports for FY26 and FY25.
Read the deeper study ↓In its favour
- It brings in more cash than it shows as profit: ₹3.5 cr against ₹2.7 cr in FY26.
- The promoters own a large part of the company: 71.95%.
To watch
- The new plant funded by the offer, which the company says will be completed and paid for during FY27 (Annual report FY26, p.19 and p.65).
- The company's stated focus on cutting fixed and direct costs and on value-added products, against the margins in coming results (Annual report FY26, p.33).
- Receivables of ₹0.45 cr that have been due for more than three years (Annual report FY26, p.61).
- Power and fuel costs once the 1.17 MW solar plant runs for a full year (Annual report FY26, p.31 and p.64).
- Customers take longer to pay than before: 96 days in FY26, against 45 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.
Technichem Organics revenue and profit growth
Half-yearly results · Profit and lossSales have grown slowly. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months. In the latest half, sales were lower than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Technichem Organics half-yearly results
SME companies report every six months · ₹ crore
| H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|
| Sales | 17.62 | 28.77 | 26.51 | 30.27 | 28.03 | 28.53 |
| Expenses | 14.47 | 22.46 | 22.21 | 26.99 | 25.81 | 26.33 |
| Operating profit | 3.15 | 6.31 | 4.31 | 3.28 | 2.23 | 2.20 |
| OPM | 17.9% | 21.9% | 16.3% | 10.8% | 7.9% | 7.7% |
| Interest | 0.98 | 0.98 | 0.85 | 0.60 | 0.69 | 0.53 |
| Depreciation | 0.81 | 0.89 | 0.80 | 0.83 | 0.84 | 0.96 |
| Profit before tax | 1.47 | 4.83 | 2.92 | 2.26 | 1.21 | 1.48 |
| Net profit | 1.13 | 3.26 | 2.16 | 1.87 | 1.24 | 1.48 |
Technichem Organics profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 66.99 | 50.32 | 46.39 | 56.78 | 56.56 |
| Expenses | 61.52 | 45.96 | 36.92 | 49.20 | 52.14 |
| Operating profit | 5.47 | 4.36 | 9.47 | 7.58 | 4.42 |
| OPM | 8.2% | 8.7% | 20.4% | 13.4% | 7.8% |
| Other income | 0.77 | 0.66 | 0.50 | 0.67 | 1.29 |
| Interest | 0.54 | 1.23 | 1.96 | 1.45 | 1.21 |
| Depreciation | 1.05 | 1.41 | 1.70 | 1.63 | 1.81 |
| Profit before tax | 4.65 | 2.38 | 6.31 | 5.18 | 2.69 |
| Tax rate | 26.5% | 27.3% | 30.6% | 22.2% | -1.1% |
| Net profit | 3.42 | 1.73 | 4.38 | 4.03 | 2.72 |
| EPS ₹ | 13.43 | 6.79 | 17.20 | 3.03 | 1.57 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
A tax rate above 60% or below zero (FY26) comes from tax charged on a small or negative profit, as reported.
Technichem Organics profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a low 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 | 8.2% | 8.7% | 20.4% | 13.4% | 7.8% |
| Tax rate | 26.5% | 27.3% | 30.6% | 22.2% | -1.1% |
| ROCE | · | 13.4% | 25.1% | 13.8% | 6.1% |
| ROE | · | 12.3% | 25.6% | 12.4% | 5.8% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Technichem Organics debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. Its loans are smaller than its own money. Last year the business brought in more cash than it showed as profit. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Technichem Organics balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 2.55 | 2.55 | 2.55 | 17.32 | 17.32 |
| Reserves | 10.62 | 12.35 | 16.76 | 28.22 | 30.94 |
| Net worth | 13.17 | 14.90 | 19.31 | 45.54 | 48.26 |
| Borrowings | 10.17 | 15.62 | 16.11 | 15.01 | 18.19 |
| Other liabilities | 20.82 | 13.73 | 15.51 | 8.83 | 10.38 |
| Total liabilities | 44.16 | 44.25 | 50.93 | 69.38 | 76.83 |
| Fixed assets | 22.69 | 31.10 | 25.84 | 30.81 | 33.45 |
| Capital work in progress | 1.16 | 0 | 0.60 | 0.82 | 4.78 |
| Investments | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Other assets | 20.26 | 13.10 | 24.44 | 37.70 | 38.55 |
Technichem Organics cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 0.86 | 3.35 | 2.02 | -7.02 | 3.48 |
| Cash from investing | -5.19 | -8.39 | -2.33 | -6.83 | -8.40 |
| Cash from financing | 4.56 | 4.33 | 0.92 | 20.50 | 1.53 |
| Net cash flow | 0.23 | -0.71 | 0.61 | 6.65 | -3.39 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 45 | 24 | 72 | 78 | 96 |
| Inventory days | 36 | 56 | 99 | 115 | 141 |
| Days payable | 107 | 85 | 156 | 47 | 66 |
| Cash conversion cycle | -26 | -5 | 15 | 146 | 171 |
| Working capital days | -19 | -43 | 3 | 79 | 81 |
Technichem Organics peers and competitors
Listed SME companies in the same industryBy sales, Technichem Organics is number 32 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 |
|---|---|---|---|---|---|---|
| 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 | 75 | 27.4 | 56.6 | 2.7 | 7.8% | 0.38 |
| Devson Catalyst | 520 | 40.0 | 56 | 13 | 30.0% | 0.06 |
| Prolife Industries | 33 | 7.7 | 54.5 | 4.3 | 7.5% | 0.01 |
| Speb Adhesives | 192 | 28.0 | 50.6 | 6.9 | 17.9% | 0.00 |
| Snehaa Organics | 41 | 5.1 | 49.4 | 8.1 | 23.8% | 0.07 |
| Vadivarhe Speciality Chemicals | 31 | - | 45.8 | -1.6 | 1.3% | - |
| Vahh Chemicals | 38 | 7.5 | 43.2 | 5.1 | 19.4% | 0.76 |
| Amtech Esters | 95 | 22.2 | 40.7 | 4.3 | 18.4% | 0.17 |
| Median of the 10 others | 68 | 12.1 | 52.5 | 6 | 18.1% | 0.07 |
Technichem Organics 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 is about the same.
Technichem Organics 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.
| Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|
| Promoters | 71.77% | 71.77% | 71.95% |
| Foreign investors (FIIs) | 4.69% | 1.09% | - |
| Indian institutions (DIIs) | 2.11% | 1.24% | - |
| Number of shareholders | 679 | 643 | 565 |
Technichem Organics study: the business from its own documents
Read from 3 of the company's own documentsTechnichem Organics key facts from the filings
Each figure with the document it comes from
- Exports
- ₹24.7 cr
- Free on board value of exports in FY26, about 44% of sales, a little lower than the year before.Annual report FY26, p.70 and p.72
- Five named products
- 62.7%
- Share of FY26 sales from ADMT, DMP, AMP, 3AC and SPMAP; the rest is a spread of other products. Reported figures; our arithmetic.Annual report FY26, p.69
- Largest product
- ₹10.0 cr
- ADMT sales in FY26, down from ₹13.1 cr, while AMP sales nearly doubled to ₹5.0 cr.Annual report FY26, p.69
- Raw materials
- 65.8%
- Raw material used in FY26 as a share of sales; NDMT, ACN and amide are the main named inputs. Reported figures; our arithmetic.Annual report FY26, p.51 and p.69
- Solar plant
- 1.17 MW
- Installed for the plant's own use at a cost of ₹3.8 cr, to cut the power bill.Annual report FY26, p.31
Show 5 more facts
- Plant under way
- ₹4.8 cr
- Capital work in progress at March 2026, all of it shown as due for completion within a year.Annual report FY26, p.60 and p.65
- IPO money
- ₹25.2 cr
- Raised in January 2025; ₹10.2 cr went to repay loans and the new plant share was not yet fully spent at March 2026.Annual report FY26, p.18 to 19
- Owed by customers
- ₹14.9 cr
- Trade receivables at March 2026, up from ₹12.2 cr on flat sales; ₹0.45 cr has been due for over three years.Annual report FY26, p.61
- Promoters' stake
- 68.44%
- Held by Bharat J. Pandya and Anil J. Pandya at March 2026, with a further small stake in the promoter group.Annual report FY26, p.56
- Plant site
- 19,200 sq m
- Industrial land at Lunej, Khambhat, mortgaged to SIDBI against term loans that the promoter directors also guarantee.Annual report FY26, p.57
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 the part of its offer money set aside for a new plant was unspent at March 2026 and will be used during FY27, and shows its capital work in progress as due for completion within a year. It also says it is looking at new product lines, market expansion and backward integration, without giving figures.
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.
Technichem Organics earns its money by turning bought chemicals into speciality intermediates at one Gujarat plant and selling them at home and abroad.
Its weak spot is the thin gap between input costs and selling prices, which has narrowed sharply while sales stood still.
WatchCan it set its own prices?Profit fell while sales held level, which points to costs rising faster than the company could pass them on.
AverageHow strong is it against rivals?Three decades in a narrow chemistry and its own laboratory give it a footing, but the company says rivals at home and abroad are many and strong.
AverageWho are its customers?Buyers come from several industries and close to half the sales go abroad, but no customer or export market is named, so concentration cannot be judged.
WatchDoes it need a lot of money?The plant needs steady spending, and stock and money owed by customers keep growing faster than sales, so cash is tied up.
AverageCan it keep finding new work?Sales come from repeat orders for its product range rather than long contracts, and the company gives no order book figure.
WatchDo good and bad years swing a lot?Profit has moved a lot from year to year on similar sales, because input prices, the rupee and plant use all feed straight into the margin.
Who runs Technichem Organics?
Promoters, directors and officers; tap a name for the background
BJBharat J. PandyaPromoter, Chairman and Managing Director · holds 35.98%
A Bachelor of Engineering and a director since February 1996; the company describes expertise in marketing, procurement and strategy. The annual report records Bharat J. Pandya and Anilkumar J. Pandya as related to each other.
Annual report FY25, p.19; Annual report FY26, p.17AJAnilkumar J. PandyaPromoter and Whole-time Director · holds 32.46%
A Bachelor of Commerce and a director since February 1996, with over 29 years in manufacturing operations, factory administration, production management and logistics; credited with guiding the company to its ISO certifications and with product and process development.
Annual report FY26, p.16 to 17 and p.56PMPiyush M. NathwaniWhole-time Director
Whole-time Director since July 2020 and head of the plant for 27 years, according to the company; remuneration was revised from February 2025 for the term ending July 2027.
Annual report FY25, p.17; Annual report FY26, p.36NJNarayansingh J. DeoraChief Financial Officer
Named as Chief Financial Officer and a key managerial person; the annual reports give no further background.
Annual report FY26, p.4 and p.21UMUtsav M. ShahIndependent Director
Chairs the audit committee and attended all board and committee meetings in FY26; the annual reports give no further background.
Annual report FY26, p.20 and p.23APAsim PandyaIndependent Director
Holds a Master of Laws from Gujarat University and has over 36 years of legal practice; has written law books on five subjects. Appointed from 29 July 2026 for five years; the company states no relationship with other directors.
Annual report FY26, p.15 to 17Technichem Organics 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 ₹28.5 cr (-6%), net profit ₹1.5 cr (-21%) on H2 FY25.
- Shareholding, 31 March 2026: promoters 71.77% to 71.95%.
Technichem Organics announcements
8 on record, latest first; each opens the filing on the exchange
- Company UpdateWe are hereby submitting the certificate issued by Bigshare Services Pvt. Ltd., Registrar and Share Transfer Agent of the Company for the Quarter ended on 30th PDF ↗
- Insider Trading / SASTPursuant to BSE's Circular No. LIST/COMP/01/2019-20 dated 2nd April, 2019 and as per Clause 4 of the Schedule B and other applicable regulations of SEBI (ProhibPDF ↗
- Company UpdateIntimation of approval of shareholders for appointment of Independent Director at 30th AGM of the ComapnyPDF ↗
- Company UpdateIntimation of approval of shareholders for appointment of Independent Director at 30th AGM of the ComapnyPDF ↗
- AGM/EGMDeclaration of Results of Resolutions passed at the 30th Annual General Meeting and Submission of Scrutineer''s ReportPDF ↗
- AGM/EGMDeclaration of Results of Resolutions passed at the 30th Annual General Meeting and Submission of Scrutineer''s ReportPDF ↗
- AGM/EGMWe are enclosing herewith copy of the Proceedings of the 30th Annual General Meeting of the Company held on 24th September, 2026 through Video Conferencing (''VPDF ↗
- Company UpdateWe are enclosing herewith copy of the Proceedings of the 30th Annual General Meeting of the Company held on 24th September, 2026 through Video Conferencing (''VPDF ↗
Technichem Organics annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Technichem Organics 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 Technichem Organics' 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 (1,73,21,250 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 FY24 (₹17.20) and FY25 (₹3.03) 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 13 Oct 2026, from the exchange's daily figures.
Questions people ask about Technichem Organics
What does Technichem Organics do?
Technichem Organics makes speciality chemicals called pyrazoles, pyrazolones and dye intermediates at its plant in Gujarat, and sells them to drug, crop protection, paint and dye makers in India and abroad. Its shares trade on the BSE SME platform.
What is the share price of Technichem Organics?
₹43 at the close on 5 Nov 2026, from the exchange's daily figures.
What is the market cap of Technichem Organics?
₹75 cr at the close on 5 Nov 2026, on 1,73,21,250 shares.
What is the P/E of Technichem Organics?
27.4 times FY26 profit at the close on 5 Nov 2026 (our arithmetic).
What are Technichem Organics' revenue and profit?
Revenue ₹57 cr and profit after tax ₹3 cr in FY26.
Who are the promoters of Technichem Organics?
Bharat J. Pandya, Anilkumar J. Pandya; promoters held 71.95% at 31 March 2026.
What is Technichem Organics' website?
www.technichemorganics.com
More SME companies like Technichem Organics
Other listed SME companies in chemicals & petrochemicals, the closest in size first, each read from its own documents.
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- Aureate TraddeAUREATE · BSE SME · Chemicals & PetrochemicalsMarket cap ₹63 cr
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Built from 3 annual reports, 8 exchange announcements, 3 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.