NSE: LORDSCHLO · BSE: 500284
LORDS CHLORO ALKALI LTD
Manufactures caustic soda lye and chlorinated paraffin wax (CPW) — both commodity chlor-alkali products — for industrial customers. FY26 caustic soda lye volumes grew 29.7% to 84,690 MT, and total income rose 44.6% to Rs 393.10 crore on stronger realisations and improved plant utilisation. Profit after tax surged to Rs 28.49 crore from Rs 6.18 crore in FY25, with EBITDA margin widening to 16.89% from 9.42%. The business is power-intensive, and electricity was historically the largest input cost; the company is shifting to renewable energy to reduce this, with 16 MW of solar already operational and a 21 MW solar plant in Bikaner expected online by mid-June 2026. Power costs fell from 51% of production cost in FY25 to 42% in FY26, and the company is targeting 40-45% renewable share in the short term and 80% medium term. A Rs 165 crore capex programme covering FY26-FY27 is expanding caustic soda capacity to 360 TPD and CPW to 100 TPD, with a larger Rs 315 crore capex plan through FY28 covering both capacity and renewable projects. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Caustic soda lye, Chlorinated paraffin wax (CPW). Cyclical, power-intensive commodity chlor-alkali producer transitioning to renewable energy
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 240 | 295 | 221 | 270 | 390 |
| EBITDA (ex other income) | 56 | 84 | 1 | 24 | 63 |
| margin % | 23.3 | 28.4 | 0.4 | 8.9 | 16.3 |
| Owners' profit | 32 | 53 | (5) | 6 | 28 |
| EPS, as reported (₹) | 12.83 | 21.16 | (1.91) | 2.46 | 9.94 |
| ROE % · ROCE % | 27.8 · 29.2 | 31.4 · 36.4 | (2.9) · (2.3) | 3.4 · 4.1 | 11.7 · 12.6 |
| Debt / equity (x) | 0.26 | 0.09 | 0.22 | 0.69 | 0.67 |
| Cash from operations | 67 | 69 | (14) | 9 | 27 |
| Capex | (10) | (17) | (34) | (127) | (57) |
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 | 61 | 65 | 80 | 100 | 98 | 94 | 98 | 106 |
| Profit before tax | 1 | 2 | 4 | 14 | 14 | 4 | 6 | 16 |
| Net profit | 0 | 1 | 3 | 10 | 9 | 5 | 4 | 15 |
| EPS (₹) | 0.22 | 0.50 | 1.03 | 4.15 | 3.59 | 1.83 | 1.53 | 5.22 |
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. % |
|---|---|---|---|---|---|---|---|---|
| TATA CHEMICALS LTD | 15,351 | — | 0.69 | 139.2 | (7.7) | (5.0) | 7.4 | 14.4 |
| DEEPAK FERTILIZERS & PETR | 14,679 | 14.9 | 1.97 | 11.1 | 9.9 | 8.4 | 14.6 | 26.1 |
| GUJ NAR VAL FER & CHEM L | 7,529 | 7.3 | 0.83 | 5.4 | 8.9 | 10.3 | 8.7 | 22.1 |
| TANFAC INDUSTRIES LTD. | 6,923 | 56.6 | 18.55 | — | 18.8 | 24.3 | — | 16.0 |
| GUJARAT ALKALIES & CHEM | 4,105 | 61.8 | 0.79 | 8.7 | (0.0) | 0.7 | 12.4 | 18.4 |
| GHCL LIMITED | 3,565 | 7.8 | 1.00 | 4.7 | 13.3 | 16.6 | 1.1 | 23.9 |
| GRAUER & WEIL IND LTD | 3,543 | 21.6 | 3.28 | 14.4 | 15.2 | 19.2 | 14.5 | 20.4 |
| J.G.CHEMICALS LIMITED | 2,179 | 29.0 | 4.03 | 22.2 | 12.7 | 16.9 | — | 11.5 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 10.9 | 17.4 | 16 of 50 | 69% |
| P/B | 1.6 | 1.4 | 33 of 60 | 46% |
| ROCE | 9.8 | 6.0 | 22 of 62 | 66% |
| ROE | 11.8 | 5.0 | 16 of 60 | 75% |
| Debt / Equity | 0.7 | 0.2 | 44 of 60 | 27% |
| EBITDA margin | 21.5 | 13.3 | 11 of 58 | 83% |
| Revenue growth | 6.1 | 6.7 | 29 of 54 | 47% |
| Profit growth | 43.1 | 21.0 | 28 of 64 | 57% |
| Market cap | 381 | 98 | 23 of 66 | 66% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 22 Oct 2026 · Board to approve Q2 and half-year results on 3 November 2026 | results | low | — | — |
| 5 Oct 2026 · Routine SEBI compliance certificate for Q2 FY27 share dematerialisation | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window closed for insiders | compliance | minimal | — | — |
| 14 Sept 2026 · 47th AGM results: all 11 resolutions passed with 99.9% support | board shareholder meetings | low | — | — |
| 11 Sept 2026 · 47th AGM held on Sep 11, 2026; 11 resolutions including ESOP 2026 and borrowing hike | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Cancellation of Analyst/Investor Meet | general | low | — | — |
| 2 Sept 2026 · Commissioning of 14.5 MW Captive Solar Power Plant at Rajasthan | capex operations | high | — | — |
| 1 Sept 2026 · Analyst/Investor Meet Scheduled for 4 September 2026 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Newspaper ad filed for 47th AGM, e-voting and book closure notice | compliance | minimal | — | — |
| 12 Aug 2026 · 47th AGM on 11 September 2026; Book Closure 5 to 11 September | 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.