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Companies›Commodities›Chemicals›Chemicals & Petrochemicals

VIKRAM THERMO (INDIA) LTD.

Chemicals › Chemicals & Petrochemicals
₹384.90
at close · 28 Oct 2026
▲ 25.90 (+7.21%)

Latest filings

Next results: Wed, 4 Nov · Financial Results
  1. Board meeting on 04 Nov 2026 to consider Q2 FY27 results · Results
  2. Routine SEBI Regulation 74(5) certificate for Q2 FY26 dematerialization · Compliance
  3. AGM approves reappointment of two WTDs and related party pay hike · Management Changes
All filings ↓
Ask Nexa about VIKRAM THERMO (INDIA) LTD.

Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Manufactures and sells carbomers, which are polymer-based thickening, suspending and gelling agents used as excipients in pharmaceutical formulations and as rheology modifiers in personal care products. It operates as a single reportable segment — Pharma Polymers — after the May 2024 demerger of its Aromatic Chemical business into a separate entity. FY26 revenue from operations was Rs 134.10 crore with net profit of Rs 38.50 crore and an EBITDA margin of 41.52%. Raw materials are the largest input cost at 31.7% of revenue, followed by other operating expenses at 17.3%, employee costs at 10.1%, depreciation at 2.2%, and capex at 7.1%. The company has no subsidiaries, is listed only on BSE (Scrip Code 530477), is run by the Patel family in Ahmedabad, and recommended a Rs 1.25 per share dividend for FY26. Operating leverage shows up in a quarter-on-quarter PAT jump from Rs 794.13 lakhs in Q1 FY26 to Rs 1,107.66 lakhs in Q2 FY26 and Rs 1,096.22 lakhs in Q3 FY26.

Operating scale
Reportable segments
1 (Pharma Polymers)FY26
Revenue from operations
Rs 134.10 croreFY26
EBITDA margin
41.52%FY26
Net profit
Rs 38.50 croreFY26
Subsidiaries
NoneFY26
Listing
BSE only (Scrip Code 530477)FY26
Who pays it
Pharmaceutical formulation makers and personal care / cosmetics manufacturers that use carbomers as rheology modifiers and excipients.
Biggest cost
Raw materials at 31.7% of revenue, the largest line in the cost stack.
Kind of business
Small, single-product, asset-light specialty chemicals maker with high EBITDA margins and a focused product line.
Where it sits
A BSE-only listed commodity/specialty chemicals company operating solely in carbomers after divesting its Aromatic Chemical business; no subsidiaries, promoter-led.
Market Cap
₹1,207 Cr
P / E (TTM)
31.3×
EV / EBITDA
21.7×
Div Yield
0.26%
Growth
12.8%▲
Revenue 5y CAGR
PAT +26.1% · EBITDA +24.6%
Quality
24.2%▲
ROCE (5y median)
ROE 18.9% (5y median) · margin 41.5%
Leverage
0.03·
Debt / Equity · low
Net cash ₹0.26 Cr
Revenue FY21→FY26
1.8×▲
Margin +12.3 pts
₹74 Cr → ₹134 Cr
Cash conversion
1.20×▲
Operating cash ÷ profit · 5 yrs
₹118 Cr on ₹98 Cr
Moves on a normal day
1.44%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 66 Commodity Chemicals peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#37/50
P/B#56/60
ROCE#3/62
ROE#4/60
Debt / Equity#18/60
EBITDA margin#5/58
Revenue growth#9/54
Profit growth#17/64

Scorecard

Measured from the filed financials, judged against its Commodity Chemicals peers · as of FY26 — not investment advice

Strengths
Revenue compounding 13% a year over 5 years
Profit compounding 26% a year over 5 years
Returns on capital 24.2% (5-year median)
#3 of 62 in Commodity Chemicals on the latest reported figures · up from 22.3% in FY21
Debt at 0.03× equity
lower than 71% of its 60 Commodity Chemicals peers
Over 5 years it reported ₹98 Cr of profit and ₹118 Cr of operating cash — 1.20×
Profit is converting into cash
Concerns
EPS grew slower than profit — the share count rose (bonus or dilution)

Charts

How has the market priced it — with filings on the timeline?

Price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from VIKRAM THERMO (INDIA) LTD.'s filed financials and exchange disclosures

What does VIKRAM THERMO (INDIA) LTD. do?

VIKRAM THERMO (INDIA) LTD. is a Chemicals & Petrochemicals company listed on BSE.

Is VIKRAM THERMO (INDIA) LTD. profitable?

Yes. Over the trailing twelve months VIKRAM THERMO (INDIA) LTD. reported a net profit of ₹39 Cr on revenue of ₹135 Cr.

Does VIKRAM THERMO (INDIA) LTD. pay a dividend?

Yes. The dividend yield is 0.26% at the current price. It paid out 8% of its profit as dividend in FY26.

Is VIKRAM THERMO (INDIA) LTD. debt-free?

On a net basis, yes. It reported borrowings of ₹4.59 Cr on its 31 Mar 2026 balance sheet, but holds ₹0.26 Cr more cash than debt.

Is VIKRAM THERMO (INDIA) LTD. expensive compared with its peers?

On trailing P/E, VIKRAM THERMO (INDIA) LTD. ranks 37 of 50 in Commodity Chemicals — cheaper than 27% of them, against an industry median of 17.4×. This is a position, not a valuation judgement.

How much does the VIKRAM THERMO (INDIA) LTD. share price move in a day?

On a typical session VIKRAM THERMO (INDIA) LTD. moves 1.44% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

When are VIKRAM THERMO (INDIA) LTD.'s next results?

Financial Results on Wed, 4 Nov. MarketPing alerts you on WhatsApp the moment the filing lands.

Where can I track VIKRAM THERMO (INDIA) LTD.'s announcements?

Every NSE and BSE filing by VIKRAM THERMO (INDIA) LTD. appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.