| P/E Ratio | 15.75Sector 39.02 |
|---|---|
| Market Cap | ₹309.55 CrSmall Cap |
| Promoter Holding | 74.88%Unchanged |
| RSI | 67.02Neutral Zone |
| Metric | H1-27 | H2-26 | H1-26 |
|---|---|---|---|
| Revenue from Operations | 206 | 112 | 103 |
| Other Income | 2.0 | -0.0 | 0.7 |
| Total Income | 208 | 112 | 104 |
| Profit Before Tax | 30.1 | 13.1 | 13.8 |
| Net Profit | 22.6 | 9.5 | 10.2 |
| Operating Margin | 14.5% | 11.7% | 13.3% |
| Net Profit QoQ | +137.9% | ||
| Net Profit YoY | +121.6% | ||
| Adj. Profit QoQ | +114.5% | ||
| Adj. Profit YoY | +114.5% | ||
Key highlights
- Consolidated revenue from operations increased to ₹206 crore from ₹103 crore in H1-26
- Net profit jumped to ₹22.6 crore, marking a 137.9% growth over H2-26
- Operating margins expanded to 14.5% compared to 13.3% in the same period last year
- Capital work-in-progress for the JNPA SEZ facility rose to ₹9.57 crore
- The company has utilized ₹3,948.05 lakhs of its IPO proceeds as of September 30, 2026
Operational Growth Scales Distribution Platform
Chemkart India reported a significant scale-up in its core ingredients distribution business, with consolidated revenue reaching ₹206 crore for H1 FY27. This represents a doubling of the ₹103 crore revenue recorded in the previous year's first half. The growth reflects a strong momentum in the trading and distribution of nutraceutical raw materials and amino acids.
Management previously noted achieving approximately 50% of the entire FY26 revenue within just the first quarter of FY27, a trend that has translated into a 121.6% year-on-year surge in net profit. The company maintains its focus on a global sourcing network backed by multiple quality certifications.
Margin Improvement and Capital Allocation
Efficiency gains were evident as the operating margin improved to 14.5% in H1-27, up from 11.7% in the preceding half-year period. Total income for the half-year stood at ₹208 crore, which included ₹2 crore from other income sources. The company has demonstrated disciplined capital management following its July 2025 IPO.
According to the latest utilization certificate, ₹20 crore of the issue proceeds has been fully deployed for the repayment of borrowings, while ₹9.79 crore was used for general corporate purposes. The company currently holds ₹24.99 crore in unutilized IPO funds, which are earmarked for the development of its manufacturing facility.
Development of JNPA SEZ Manufacturing Facility
- A 4,120 square meter plot has been leased for 60 years for a greenfield facility
- RCC structural work for columns is currently extending toward the third floor
- Erection of beams and purlins for the PEB warehouse is in progress at the site
- Capital work-in-progress stood at ₹9.57 crore as of September 30, 2026
- The project team includes 55 personnel deployed for supervision and construction
- Targeted 2027 commissioning remains the key milestone for the CDMO pivot
Management Focus on Cash Conversion
Management remains focused on collections, inventory efficiency and converting earnings into cash. The Group remains focused on achieving its targeted 2027 commissioning milestone, in alignment with its Vision 2030 roadmap.
| Date | Announcement | Amount |
|---|---|---|
| 15 Jul 2026 | Q1 FY27 Revenue from operations (Business update)Source: BSE filing | ₹99.60 Cr |
| 15 Jul 2026 | Management guidance for FY27 strong momentum after achieving ~50% of FY26 revenue in Q1Source: BSE filing | – |
| 18 May 2026 | H2 FY26 Consolidated Revenue from operationsSource: multibagg.ai | ₹111.60 Cr |
| 18 May 2026 | H2 FY26 Consolidated Net Profit (PAT)Source: multibagg.ai | ₹9.50 Cr |
| 10 Nov 2025 | H1 FY26 Consolidated Revenue from operationsSource: scanx.trade | ₹103.23 Cr |
| 10 Nov 2025 | H1 FY26 Consolidated Net Profit (PAT)Source: scanx.trade | ₹10.15 Cr |
What to watch next
- Completion of civil and structural works at the JNPA SEZ facility, early 2027
- Obtaining operational approvals for the CDMO manufacturing unit, mid-2027
- Deployment of the remaining ₹24.99 crore IPO proceeds for equipment installation
| Share price | ₹255.85 |
|---|---|
| Market capitalisation | ₹309.55 Cr |
| Revenue (annual) | ₹214.83 Cr |
| Net profit (annual) | ₹19.66 Cr |
| P/E (TTM) | 15.75×Sector 39.02× |
| Promoter holding | 74.88% |
| FII holding | 0.4%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Half-yearly financial results and utilization of IPO proceeds filing by Chemkart India Limited on October 30, 2026. Market figures from a third-party data provider.
