NSE: CLSEL · BSE: 530307
CHAMAN LAL SETIA EXP LTD
Operates a single business segment of rice manufacturing, trading and export, with basmati rice as the core product. Exports contribute ~88% of revenue, sold through 440+ distributors across 95+ countries including Canada, Australia, Russia, the US, and the Middle East. FY26 revenue stood at Rs. 1,439.58 crore (down 3.7% YoY on lower realizations), while Q4FY26 export volumes reached 44,544 MT, up 31.8% YoY. Costs are split across other operating expenses at 10.9% of revenue and raw materials at 9.9%, with employees at 1.4% and depreciation at 0.3%, indicating a relatively asset-light cost structure. Despite the revenue decline, profit after tax rose 11.6% to Rs. 114.78 crore and EBITDA margin expanded to 11.63%. The company is a government-recognized star export house operating with a net cash position (Net Debt/Equity of -0.06) and ROE of ~15% / ROCE of ~18%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Rice exports (88%), Domestic rice sales (12%). Single-segment basmati rice exporter, asset-light FMCG with high export orientation
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 932 | 1,387 | 1,356 | 1,495 | 1,440 |
| EBITDA (ex other income) | 95 | 159 | 162 | 141 | 157 |
| margin % | 10.2 | 11.5 | 11.9 | 9.4 | 10.9 |
| Owners' profit | 65 | 118 | 116 | 103 | 115 |
| EPS, as reported (₹) | 12.57 | 22.76 | 22.36 | 20.68 | 23.10 |
| ROE % · ROCE % | 15.9 · 20.1 | 19.3 · 24.9 | 16.2 · 21.3 | 14.0 · 18.4 | 13.7 · 17.8 |
| Debt / equity (x) | 0.29 | 0.20 | 0.25 | 0.17 | 0.10 |
| Cash from operations | (58) | 37 | (18) | 73 | 51 |
| Capex | (11) | (9) | (14) | (17) | (10) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 369 | 395 | 368 | 307 | 273 | 431 | 428 | 346 |
| Profit before tax | 36 | 39 | 32 | 29 | 25 | 48 | 52 | 43 |
| Net profit | 27 | 29 | 25 | 22 | 19 | 36 | 38 | 32 |
| EPS (₹) | 5.55 | 5.83 | 4.93 | 4.35 | 3.81 | 7.24 | 7.70 | 6.44 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LT FOODS LIMITED | 13,296 | 20.8 | 2.94 | 11.3 | 13.8 | 16.0 | 18.7 | 11.5 |
| KRBL LIMITED | 8,012 | 10.6 | 1.38 | 8.3 | 11.2 | 14.7 | 8.8 | 24.9 |
| GUJARAT AMBUJA EXPORTS LT | 6,614 | 15.9 | 2.01 | 12.4 | 9.2 | 11.7 | 4.0 | 17.0 |
| KAVERI SEED CO. LTD. | 3,616 | 14.6 | 2.06 | 9.8 | 16.9 | 17.0 | 6.1 | 40.1 |
| TRUALT BIOENERGY LIMITED | 3,233 | 23.0 | 2.05 | 12.7 | 6.1 | 4.8 | — | 23.5 |
| INDRAYANI BIOTECH LTD. | 2,966 | 22.3 | 29.05 | 217.6 | 1.9 | 0.2 | 45.6 | 8.2 |
| AMIR CHAND JAG KUM (E) L | 2,165 | 20.7 | 2.34 | 12.7 | 11.2 | 14.8 | — | 9.5 |
| SANSTAR LIMITED | 1,839 | 54.6 | — | — | — | — | — | 8.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 10.3 | 12.6 | 21 of 53 | 62% |
| P/B | 1.5 | 1.5 | 26 of 51 | 50% |
| ROCE | 16.8 | 4.1 | 12 of 67 | 83% |
| ROE | 13.7 | 3.5 | 12 of 51 | 78% |
| Debt / Equity | 0.1 | 0.4 | 18 of 51 | 66% |
| EBITDA margin | 13.2 | 9.7 | 16 of 45 | 66% |
| Revenue growth | 12.6 | 10.3 | 24 of 51 | 54% |
| Profit growth | 47.8 | 16.6 | 23 of 51 | 56% |
| Market cap | 1287 | 62 | 11 of 69 | 85% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Quarterly dematerialisation compliance certificate filed with exchanges | compliance | minimal | — | — |
| 30 Sept 2026 · Chaman Lal Setia Exports to hold one-on-one meeting with Banyan Capital on Oct 6 | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 32nd AGM Results: All 4 Resolutions Passed Including Rs.3 Dividend | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 32nd AGM results: all 4 resolutions passed, Rs 3 dividend declared | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · Chaman Lal Setia Exports: 32nd AGM proceedings, final dividend of 150% declared | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 24 Sept 2026 · Investor/Analyst Meeting Schedule - 29 Sept 2026 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · 32nd AGM notice published in newspapers; e-voting and book closure details | compliance | minimal | — | — |
| 5 Sept 2026 · FY26 BRSR filed: Rs 1,400 cr turnover, Rs 115 cr PAT, exports 91%, ESG targets set | compliance | minimal | — | — |
| 5 Sept 2026 · Annual Report FY 2025-26 and 32nd AGM notice filed | results | high | — | — |
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.