Sells specialty chemicals and operates a recycling business, with chemicals contributing 93% of revenue and recycling 7% in the latest half-yearly mix. Consolidated revenue from operations was Rs 26.96 crore in FY26, up 48.6% year-on-year, driven largely by the wholly-owned subsidiary K.P. International Private Limited (KPIPL), which houses the recycling vertical. KPIPL reported turnover of Rs 15.09 crore in FY25 and runs a 27,000 metric-tonne-per-annum recycling plant in its first phase, with consent to operate from the Gujarat Pollution Control Board covering e-waste, lithium-ion battery, solar panel and metal recycling; the FY25 AGM flagged expansion plans into critical and rare earth minerals. The chemicals business is the legacy operation, and the FY25 AGM referenced partnerships with Reliance Industries, Solex Energy and an Electricity Board. Materials account for just 0.1% of revenue, employee costs 4.5%, other operating expenses 4.8% and depreciation 1.3%, with capex at 5.0% of revenue as property, plant and equipment expanded sharply. Profitability stayed thin at an EBITDA margin of 4.7% and net margin of 2.07%, and trade receivables surged to Rs 853.79 lakhs in FY26 from Rs 174.27 lakhs a year earlier. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Specialty chemicals (93%), Recycling (e-waste, Li-ion battery, solar panel, metal) (7%). Small-cap, asset-expanding specialty chemicals group with a recently added recycling vertical
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 21 | 18 | 11 | 18 | 27 |
| EBITDA (ex other income) | 2 | 1 | 1 | 1 | 1 |
| margin % | 7.9 | 8.1 | 12.1 | 3.0 | 4.5 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 0.78 | 0.78 | 0.49 | 0.56 | 0.52 |
| ROE % · ROCE % | 5.0 · 6.4 | 4.8 · 6.0 | 3.0 · 4.3 | 3.3 · 3.7 | 3.0 · 3.6 |
| Debt / equity (x) | 0.19 | 0.16 | 0.39 | 0.44 | 0.49 |
| Cash from operations | 0 | 3 | 1 | 0 | 1 |
| Capex | (0) | (2) | (4) | (2) | (1) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4 | 4 | 7 | 3 | 9 | 5 | 10 | 10 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Net profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.12 | 0.05 | 0.27 | 0.10 | 0.01 | 0.01 | 0.39 | 0.23 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PIDILITE INDUSTRIES LTD | 1,59,479 | 60.2 | 14.43 | 42.3 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 73,583 | 34.0 | 5.24 | 22.7 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 52,514 | 85.7 | 6.64 | 41.5 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 43,836 | 55.4 | 11.03 | 39.5 | 16.7 | 16.4 | 23.0 | 37.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Record date fixed for final dividend of Rs 0.20 per share for FY 2025-26 | corporate actions | medium | — | — |
| 7 Sept 2026 · Newspaper publication of 32nd AGM notice with e-voting and dividend details | compliance | minimal | — | — |
| 5 Sept 2026 · Kemistar Corp 32nd AGM on Sep 30, 2026; Final Dividend of Rs 0.20 Per Share | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Kemistar Corporation FY26 Annual Report filed with BSE | compliance | minimal | — | — |
| 5 Sept 2026 · Book Closure for 32nd AGM and Final Dividend FY 2025-26 | corporate actions | medium | — | — |
| 5 Sept 2026 · Board recommends Rs 0.20 final dividend for FY 2025-26 | corporate actions | medium | — | — |
| 5 Sept 2026 · Board approves final dividend of Rs 0.20 per share for FY26 | corporate actions | medium | — | — |
| 31 Aug 2026 · Board meeting on Sept 5, 2026 to consider Final Dividend | corporate actions | high | — | — |
| 24 Aug 2026 · Board approves 32nd AGM notice and fixes record date and book closure | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Q1 FY27 Results Published in Newspapers | compliance | minimal | — | — |
| 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 |
| AETHER INDUSTRIES LIMITED |
| 22,229 |
| 94.3 |
| 9.05 |
| 60.4 |
| 8.9 |
| 11.4 |
| — |
| 33.8 |
| DEEPAK NITRITE LTD | 21,769 | 27.8 | 3.71 | 22.4 | 9.4 | 10.2 | 12.6 | 21.5 |
| ATUL LTD | 18,401 | 23.1 | 2.92 | 14.9 | 10.9 | 13.3 | 10.9 | 23.1 |
| AARTI INDUSTRIES LTD | 17,846 | 33.6 | 3.00 | 18.8 | 7.0 | 4.4 | 13.0 | 16.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 79.5 | 23.4 | 92 of 103 | 11% |
| P/B | 2.9 | 2.9 | 51 of 99 | 48% |
| ROCE | 2.9 | 10.3 | 88 of 108 | 19% |
| ROE | 3.0 | 8.1 | 83 of 101 | 18% |
| Debt / Equity | 0.5 | 0.2 | 82 of 101 | 19% |
| EBITDA margin | 8.8 | 15.5 | 77 of 99 | 22% |
| Revenue growth | 251.1 | 24.4 | 2 of 94 | 99% |
| Profit growth | 125.3 | 55.1 | 24 of 92 | 75% |
| Market cap | 55 | 732 | 89 of 107 | 17% |
| 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 |
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.
