CHEMBOND CHEMICAL LIMITED

Manufactures and sells specialty chemicals across four business segments, with Water Technologies dominant at 87% of FY26 revenue of Rs.326.15 crore. Water Technologies supplies water treatment chemicals to industrial and public-sector customers such as Indian Oil, NTPC and NPC, with H2 FY26 revenue of Rs.162 crore, volume of 14,813 metric tons, and a single-month peak of Rs.32 crore in March 2026. Construction Chemicals sells specialty products to dealers and distributors in Maharashtra and Gujarat, growing 15% in FY26 on a smaller base. The Cleaning & Hygiene segment operates as a JV with Germany's Calvatis and grew 22% in FY26. Distribution, the smallest segment, grew 40% on new product additions. The company runs 3 manufacturing locations with a 950-person team, has zero debt, and holds Rs.65 crore in net cash. Raw materials — chiefly metals including zinc and molybdenum — are the biggest cost line at 41.2% of revenue, and a post-February 2026 surge in these inputs is currently pressuring EBITDA margins by roughly 3%.