BSE: 544324
Citichem India Limited
Classified under 'Trading - Chemicals', Citichem India Limited operates as a BSE-listed entity dealing in chemical products, though the specific chemicals traded are not named in the filings. Revenue from operations fell nearly 50% in FY26 to Rs 9.48 crore from Rs 18.70 crore in FY25, with total revenue at Rs 15.48 crore versus Rs 54.73 crore (the latter inflated by a one-time Rs 35.20 crore write-back of sundry creditor balances). Profit after tax for FY26 stood at Rs 1.00 crore, down from Rs 1.23 crore, while EPS dropped to Rs 1.47 from Rs 2.46. Related party purchases from associate companies exceeded Rs 10 crore in FY26, suggesting that the bulk of its traded chemical volume flows through inter-group arrangements. The half-year ended September 2025 showed revenue from operations of Rs 8.52 crore against Rs 1.67 crore in H1 FY25, indicating a recovery in core trading activity within the year. Operating cash flow remained negative at Rs 5.19 crore in FY26, though improved from a Rs 11.58 crore loss the prior year, and trade receivables declined from Rs 51.08 crore to Rs 37.17 crore. Listed on the BSE SME platform in January 2025 through an IPO at Rs 70 per share, the company explored a Rs 13.63 crore preferential warrant issue during the year but later withdrew it citing adverse market conditions and lack of in-principle BSE approval. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading in chemicals (100%). Small-cap, BSE SME-listed chemicals trading company with thin margins, related-party-heavy sourcing and negative operating cash flow.
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY25 | FY26 |
|---|---|---|
| Revenue | 54 | 15 |
| EBITDA (ex other income) | — | — |
| margin % | — | — |
| Owners' profit | — | — |
| EPS, as reported (₹) | 2.26 | 1.47 |
| ROE % · ROCE % | — · 9.5 | — · 9.3 |
| Debt / equity (x) | — | — |
| Cash from operations | (12) | (5) |
| Capex | (0) | (1) |
Exhibit 2: Quarterly performance, last 4 quarters
| ₹ crore | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|
| Revenue | 2 | 53 | 10 | 5 |
| Profit before tax | 0 | 2 | 1 | 0 |
| Net profit | — | — | — | — |
| EPS (₹) | 0.25 | 2.03 | 1.36 | 0.47 |
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. % |
|---|---|---|---|---|---|---|---|---|
| UNIPHOS ENTERPRISES LTD | 607 | 30.0 | 0.25 | — | 0.8 | 0.8 | — | — |
| VINYL CHEMICALS (I) LTD. | 481 | 20.7 | 3.69 | — | 12.7 | 16.8 | — | 9.0 |
| EVEXIA LIFECARE LIMITED | 310 | 55.0 | 0.71 | 108.2 | 0.4 | 0.3 | 0.7 | 3.3 |
| BHAVIK ENTERPRISES LIMITED | 303 | 20.5 | — | — | — | 11.1 | — | — |
| SHANKAR LAL RAMPAL LTD | 243 | 13.2 | 1.98 | — | 11.0 | 14.7 | — | 9.4 |
| A-1 LIMITED | 236 | 21.4 | 4.36 | 22.0 | 11.1 | 14.8 | — | 3.5 |
| MYSORE PETRO CHEMICALS L | 75 | 46.9 | 0.33 | 80.5 | 0.4 | 0.2 | 18.0 | (0.4) |
| Yash Chemex Limited | 51 | 25.1 | 0.83 | 13.9 | 4.0 | 5.2 | 20.6 | (0.0) |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 3.8 | 20.6 | 2 of 12 | 91% |
| ROCE | 6.5 | 3.0 | 6 of 14 | 62% |
| Market cap | 11 | 75 | 11 of 13 | 17% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Compliance certificate filed under SEBI Reg 74(5) for Q2 FY26 | compliance | minimal | — | — |
| 3 Oct 2026 · Citichem India 34th AGM: All resolutions passed with 100% approval | compliance | minimal | — | — |
| 1 Oct 2026 · Independent Director Mr. Vijay Kumar Bhatt resigns from Citichem India | management changes | medium | — | — |
| 1 Oct 2026 · BSE sought clarification on price movement; company confirms no undisclosed info | regulatory legal | medium | — | — |
| 30 Sept 2026 · 34th AGM held on 30 Sep 2026; FY26 accounts and director reappointment transacted | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Trading window closed for Q2 results, from Oct 1, 2026 | compliance | minimal | — | — |
| 28 Sept 2026 · BSE seeks clarification from Citichem India on price movement | regulatory legal | high | — | — |
| 8 Sept 2026 · Newspaper ad for Citichem India 34th AGM notice and e-voting details | compliance | minimal | — | — |
| 7 Sept 2026 · Annual Report FY 2025-26 filed; 34th AGM set for 30 September 2026 | investor communications | medium | — | — |
| 7 Sept 2026 · Notice of 34th AGM on September 30, 2026 | board shareholder meetings | low | — | — |
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.