Manufactures thermoplastic compounds in India, operating as a specialty chemicals business classified under Chemicals & Petrochemicals and listed on BSE. The company is connected to DuPont: a director being appointed in May 2026 currently leads DuPont's MOLYKOTE, Vespel, and MULTIBASE businesses in South Asia, and a related-party arrangement with the parent resulted in a retrospective price adjustment credit of Rs. 176.41 lakhs booked in Q3 FY26 on import purchases. FY26 revenue from operations was Rs. 66.57 cr (down 5.9% year-on-year) with net profit of Rs. 10.43 cr (down 28.8%). The cost base is dominated by materials at Rs. 30.86 cr or 46.4% of revenue, followed by other operating expenses at 10.6% and employee costs at 8.0%. The company runs debt-free with cash and cash equivalents of Rs. 6,212.25 lakhs, and FY26 operating cash flow was Rs. 1,258.32 lakhs versus Rs. 579.37 lakhs the prior year. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Thermoplastic compounds. Small, debt-free specialty chemicals manufacturer with a single-line thermoplastic compounds product and a DuPont parent linkage.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 62 | 72 | 65 | 71 | 67 |
| EBITDA (ex other income) | 7 | 10 | 8 | 15 | 11 |
| margin % | 10.8 | 13.3 | 12.9 | 20.9 | 17.2 |
| Owners' profit | 6 | 10 | 11 | 15 | 10 |
| EPS, as reported (₹) | 5.02 | 7.76 | 8.84 | 11.61 | 8.26 |
| ROE % · ROCE % | 5.4 · 7.3 | 7.8 · 10.3 | 8.3 · 11.0 | 18.7 · 24.5 | 11.7 · 15.3 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 5 | 9 | 5 | 6 | 13 |
| Capex | (2) | (1) | (2) | (2) | (2) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 18 | 17 | 16 | 17 | 19 | 14 | 18 | 21 |
| Profit before tax | 6 | 3 | 5 | 3 | 4 | 4 | 3 | 4 |
| Net profit | 4 | 2 | 4 | 2 | 3 | 3 | 2 | 3 |
| EPS (₹) | 3.40 | 1.88 | 3.22 | 1.82 | 2.27 | 2.60 | 1.57 | 2.66 |
| 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 % |
|---|---|---|---|---|
| 3 Sept 2026 · Multibase India: 35th AGM Notice Published in Newspapers | compliance | minimal | — | — |
| 2 Sept 2026 · 35th AGM notice and FY2025-26 Annual Report submitted; meeting on September 24, 2026 | board shareholder meetings | medium | — | — |
| 2 Sept 2026 · 35th AGM on Sept 24, 2026 via video conferencing, related party deal up to Rs 30 Cr sought | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Multibase India 35th AGM on Sep 24 via video conferencing | compliance | minimal | — | — |
| 11 Aug 2026 · Multibase India Q1 FY27 net profit jumps 46 percent YoY to Rs 3.36 crore | results | high | — | — |
| 11 Aug 2026 · Multibase India Q1 FY27 results: Revenue up 25%, PAT up 46% YoY | results | high | — | — |
| 10 Aug 2026 · Postal Ballot Results: Vimal Mishra appointed as Non-Executive Director | management changes | medium | — | — |
| 10 Aug 2026 · Vimal Mishra appointed Non-Executive Director via postal ballot | management changes | medium | — | — |
| 4 Aug 2026 · Board meeting on Aug 11 to consider Q1 FY27 results | results | low | — | — |
| 11 Jul 2026 · Postal Ballot for appointment of Mr. Vimal Mishra as Director | 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) | 19.3 | 23.4 | 39 of 103 | 63% |
| P/B | 2.5 | 2.9 | 40 of 99 | 60% |
| ROCE | 15.3 | 10.3 | 34 of 108 | 69% |
| ROE | 11.7 | 8.1 | 37 of 101 | 64% |
| Debt / Equity | 0.0 | 0.2 | 3 of 101 | 84% |
| EBITDA margin | 22.2 | 15.5 | 32 of 99 | 68% |
| Revenue growth | 25.1 | 24.4 | 44 of 94 | 54% |
| Profit growth | 46.2 | 55.1 | 49 of 92 | 47% |
| Market cap | 222 | 732 | 72 of 107 | 33% |
| 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 |
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