BSE: 524440
CAMEX LTD.
Produces and sells Dyes & Chemicals and Fibre Glass as its two operating segments, with FY26 revenue of ₹149.56 crore and net profit of ₹3.25 crore. The Dyes & Chemicals line generated quarterly revenues of ₹20.34 crore (Q1 FY26) through ₹25.06 crore (Q4 FY26), while the Fibre Glass line moved from ₹14.03 crore (Q1 FY26) to ₹16.28 crore (Q4 FY26), based on the segment trend data. Quarterly segment revenue under the unnamed 'trading' line items ran at ₹85.81 crore and ₹63.75 crore in FY26's year-end quarter, but the company itself describes its business as having just the two segments above. Raw materials are the dominant input cost at 41.8% of revenue, followed by other operating expenses at 5.1% and employee cost at 3.0%. The company operates an Ankleshwar wax plant that suffered a fire in July 2024, with the resulting insurance settlement (₹231.06 lakh recovered against an estimated loss of ₹206.63 lakh) booked as an exceptional item in FY26. Total assets stood at ₹71.27 crore on FY26 revenue of ₹149.56 crore, indicating an asset-light model for a chemicals business. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Dyes and Chemicals, Fibre Glass. Small, two-segment commodity and specialty chemicals producer with thin margins (EBITDA margin 4.13% in FY26) and modest asset base
Exhibit 1: Financial summary, FY19–FY23 (all audited; no estimate years)
| ₹ crore · consolidated | FY19 | FY20 | FY21 | FY22 | FY23 |
|---|---|---|---|---|---|
| Revenue | 147 | 132 | 150 | 179 | 147 |
| EBITDA (ex other income) | 7 | 4 | 3 | 6 | 0 |
| margin % | 4.9 | 2.7 | 2.0 | 3.2 | 0.2 |
| Owners' profit | 0 | 0 | 0 | 0 | (0) |
| EPS, as reported (₹) | 3.61 | 1.21 | 1.37 | 3.19 | (0.30) |
| ROE % · ROCE % | 11.8 · 18.0 | 3.8 · 7.4 | 4.0 · 6.0 | 8.0 · 11.1 | — · — |
| Debt / equity (x) | 0.43 | 0.07 | 0.51 | 0.22 | — |
| Cash from operations | — | — | (14) | 2 | — |
| Capex | — | — | (0) | (1) | — |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY22 | Q2 FY22 | Q3 FY22 | Q4 FY22 | Q1 FY23 | Q2 FY23 | Q3 FY23 | Q4 FY23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 37 | 34 | 53 | 55 | 45 | 32 | 30 | 40 |
| Profit before tax | (1) | 0 | 2 | 3 | 0 | (0) | (1) | 1 |
| Net profit | (1) | 0 | 1 | 2 | 0 | (0) | (1) | 1 |
| EPS (₹) | (0.53) | 0.25 | 1.35 | 2.11 | 0.04 | (0.40) | (0.52) | 0.58 |
Exhibit 3: Segment revenue, FY23
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Dyes and Chemicals | 46 | 31.6 |
| Metal | 18 | 12.4 |
| Fiber Glass | 16 | 11.2 |
| Minerals & Others | 6 | 4.3 |
| DYES AND CHEMICALS | 17 | 11.8 |
| METAL | 1 | 0.6 |
| OTHERS (COAL & MINERALS) | 13 | 9.1 |
| Metals | 14 | 9.8 |
| Others | 14 | 9.3 |
| Total, before eliminations | 147 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TATA CHEMICALS LTD | 15,351 | — | 0.69 | 139.2 | (7.7) | (5.0) | 7.4 | 14.4 |
| DEEPAK FERTILIZERS & PETR | 14,679 | 14.9 | 1.97 | 11.1 | 9.9 | 8.4 | 14.6 | 26.1 |
| GUJ NAR VAL FER & CHEM L | 7,529 | 7.3 | 0.83 | 5.4 | 8.9 | 10.3 | 8.7 | 22.1 |
| TANFAC INDUSTRIES LTD. | 6,923 | 56.6 | 18.55 | — | 18.8 | 24.3 | — | 16.0 |
| GUJARAT ALKALIES & CHEM | 4,105 | 61.8 | 0.79 | 8.7 | (0.0) | 0.7 | 12.4 | 18.4 |
| GHCL LIMITED | 3,565 | 7.8 | 1.00 | 4.7 | 13.3 | 16.6 | 1.1 | 23.9 |
| GRAUER & WEIL IND LTD | 3,543 | 21.6 | 3.28 | 14.4 | 15.2 | 19.2 | 14.5 | 20.4 |
| J.G.CHEMICALS LIMITED | 2,179 | 29.0 | 4.03 | 22.2 | 12.7 | 16.9 | — | 11.5 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| EBITDA margin | 3.5 | 13.3 | 48 of 58 | 18% |
| Revenue growth | (26.8) | 6.7 | 46 of 54 | 15% |
| Profit growth | (72.3) | 21.0 | 51 of 64 | 21% |
| Market cap | 52 | 98 | 38 of 66 | 43% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Promoter Jayshri Chopra buys 1.47% of Camex in the open market | ownership changes | medium | — | — |
| 24 Oct 2026 · Camex reports strong Q2 growth but a half-year loss | compliance | minimal | — | — |
| 23 Oct 2026 · Camex revenue and profit rise sharply in September quarter | results | high | — | — |
| 23 Oct 2026 · Camex profit rises despite negative half-year operating cash flow | results | high | — | — |
| 13 Oct 2026 · Board Meeting on Oct 23 to consider Q2 and H1 FY26 results | results | low | — | — |
| 7 Oct 2026 · Routine RTA compliance filing under SEBI Regulation 74(5) for Q2 FY26-27 | compliance | minimal | — | — |
| 23 Sept 2026 · Non-promoter Nahata Khushii Rajesh makes small open market purchases of Camex shares | ownership changes | high | — | — |
| 14 Sept 2026 · Camex Says No Undisclosed Info Behind Share Price Movement | compliance | minimal | — | — |
| 11 Sept 2026 · BSE seeks clarification from Camex Ltd on significant price movement | compliance | minimal | — | — |
| 5 Sept 2026 · Non-promoter Anand Bafna sells 1.23 percent stake in Camex Ltd | ownership changes | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.