BSE: 530825
DAIKAFFIL CHEMICALS INDIA LTD.
Manufactures and sells Optical Brightening Agents (OBA) and other specialty chemicals. FY26 revenue from operations stood at Rs 1,334.75 lakhs, up 78% from Rs 749.84 lakhs in FY25 on higher sales volumes in the OBA and chemicals business. Despite the revenue jump, the company posted a net loss of Rs 214.07 lakhs as expenses outpaced sales, with materials accounting for 73.3% of revenue, employee costs 12.9%, and other operating expenses 28.9%. The company prepared consolidated financial statements for the first time in FY26 after incorporating a new subsidiary, Mikusu Global Industries Limited, in August 2025. Total assets are Rs 9.417 crore with no outstanding borrowings. Operating cash flow turned positive at Rs 54.72 lakhs in FY26, mainly from trade receivables collection, while other equity shrank to Rs 73.77 lakhs from Rs 285.22 lakhs the prior year on accumulated losses. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. OBA (Optical Brightening Agents) and chemicals. Small specialty chemicals manufacturer, loss-making, debt-free
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 13 |
| EBITDA (ex other income) | (2) |
| margin % | (14.5) |
| Owners' profit | (2) |
| EPS, as reported (₹) | (3.69) |
| ROE % · ROCE % | (32.7) · (30.3) |
| Debt / equity (x) | 0.00 |
| Cash from operations | — |
| Capex | — |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q3 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 1 | 2 |
| Profit before tax | (0) | (1) |
| Net profit | (0) | (1) |
| EPS (₹) | (0.63) | (1.54) |
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. % |
|---|---|---|---|---|---|---|---|---|
| PIDILITE INDUSTRIES LTD | 1,42,095 | 53.6 | 12.86 | 37.6 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 69,659 | 32.2 | 4.96 | 21.6 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 47,075 | 76.8 | 5.95 | 37.4 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 43,610 | 55.1 | 10.97 | 39.3 | 16.7 | 16.4 | 23.0 | 37.5 |
| AETHER INDUSTRIES LIMITED | 20,905 | 88.6 | 8.51 | 56.8 | 8.9 | 11.4 | — | 33.8 |
| DEEPAK NITRITE LTD | 20,257 | 25.9 | 3.45 | 21.0 | 9.4 | 10.2 | 12.6 | 21.5 |
| AARTI INDUSTRIES LTD | 15,871 | 29.9 | 2.67 | 17.1 | 7.0 | 4.4 | 13.0 | 16.2 |
| FINE ORGANIC IND. LTD. | 15,604 | 35.6 | 5.86 | 25.5 | 15.7 | 20.0 | 15.9 | 28.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 3.7 | 2.8 | 70 of 99 | 30% |
| ROCE | (30.4) | 10.1 | 105 of 106 | 1% |
| ROE | (32.7) | 8.1 | 98 of 99 | 1% |
| Debt / Equity | 0.0 | 0.2 | 1 of 99 | 86% |
| EBITDA margin | (42.4) | 15.5 | 99 of 99 | 0% |
| Market cap | 25 | 699 | 100 of 108 | 8% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · RTA Compliance Certificate for Quarter Ended September 2026 | compliance | minimal | — | — |
| 23 Sept 2026 · 34th AGM results: both resolutions passed with near-unanimous approval | compliance | minimal | — | — |
| 23 Sept 2026 · Trading Window Closure for Q2 FY26 Results | compliance | minimal | — | — |
| 22 Sept 2026 · Daikaffil Chemicals 34th AGM held via video conferencing on Sept 22, 2026 | board shareholder meetings | medium | — | — |
| 22 Sept 2026 · Daikaffil Chemicals holds 34th AGM, approves key resolutions | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Newspaper publication of notice for 34th AGM on Sept 22, 2026 | compliance | minimal | — | — |
| 27 Aug 2026 · AGM Notice and Annual Report Web Link Sent to Shareholders | compliance | minimal | — | — |
| 27 Aug 2026 · Book closure from Sep 16 to Sep 22 for 34th AGM | corporate actions | low | — | — |
| 27 Aug 2026 · Notice of 34th AGM and Annual Report for FY 2025-26 | board shareholder meetings | medium | — | — |
| 27 Aug 2026 · Notice of 34th AGM to be held on September 22, 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.