Investor Presentation for the quarter and year ended March 31, 2026.
INDOBORAX · price
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Indo Borax reported strong FY26 consolidated results with revenue of Rs. 215.45 Cr (up 22.9% YoY) and PAT of Rs. 50.27 Cr (up 18.3% YoY), maintaining EBITDA margin at 20.5%. Q4FY26 was particularly robust with revenue of Rs. 63.01 Cr (up 25.7% YoY) and PAT of Rs. 14.53 Cr (up 41.9% YoY). The Board declared a total dividend of Rs. 40 per share (Rs. 10 final + Rs. 30 special). A major ownership change occurred in January 2026 when promoters sold 50.80% stake (1.63 crore shares) to Zenrock Chemicals and institutional investors (India Special Assets Fund III, ISAF III Onshore Fund, Special Situation India Fund). New leadership under MD & CEO Suresh Kalra (former executive at Aquapharm, Hubergroup, SI Group) and Executive Director Harsh Malhotra (ex-Amazon) has taken over. The company remains zero-debt with ~50% market share in Indian boric acid market and is evaluating capacity expansion to capture expected 7-8% CAGR growth in the domestic boric acid market through FY30.
Strong operational performance and shareholder-friendly dividend policy are positive. The change in controlling stake to institutional investors may bring strategic shifts. The new management team with chemical industry and global operations experience could drive operational improvements and geographic expansion. Zero debt provides flexibility for growth investments.