Hindustan Organic Chemicals Ltd

HOCL

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Market Cap

₹ 208 Cr

P/E

—

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

UNDERVALUED

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Hindustan Organic Chemicals Ltd, a government undertaking, specializes in the manufacturing of bulk industrial chemicals and intermediates, serving industries like resins, pharmaceuticals, and dyes.

The company operates two main production units in Maharashtra and Kerala, and a subsidiary unit in Hyderabad under Hindustan Fluorocarbons Ltd.

Historically, the company received technical collaborations from global players like Asahi Chemicals for caustic soda production, enhancing its technological capabilities.

HOCL achieved ISO 9001 and ISO 14001 certifications, ensuring quality and environmental compliance in its operations.

Despite past financial challenges, HOCL successfully overcame its 'SICK Unit' status and continues to focus on optimizing resource utilization and expanding production capacities.

Sector

Chemicals

Industry

Chemicals - Benzene-based

Market Cap

208 Cr

Volatility

Moderate Risk

P/E Ratio

—

Industry P/E

—

PEG Ratio

—

P/B Ratio

0.2

52W High

45.00

52W Low

22.36

Sales CAGR

-23.87%

7.31%

12.30%

10Y

18.00%

Profit CAGR

824.66%

—

10Y

—

ROE

TTM

-8.82%

33.98%

32.24%

10Y

-175.50%

ROCE

TTM

-5.67%

33.72%

30.21%

10Y

8.06%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SHAWGELTIN	350.45	209 Cr	8.98	1.71	2.89	18.47	22.90	14.26
KKALPANAIND	10.00	209 Cr	500.00	5.97	0.00	3.66	8.32	0.21
HOCL	31.90	208 Cr	—	0.20	0.00	-8.82	-5.67	27.06
JDORGOCHEM	15.04	205 Cr	13.44	1.59	0.33	11.80	12.85	7.05
COCHINM	262.45	205 Cr	12.20	1.24	3.06	10.13	15.49	8.46
AKSHARCHEM	248.80	199 Cr	888.57	0.76	0.30	0.09	1.86	0.45
PATELCHEM	80.55	199 Cr	18.82	2.11	0.00	12.33	14.22	8.81

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	145	189	187	183	59	175	165	137	164	126
Expenses	154	177	190	183	83	175	191	173	177	143
Operating Profit	-8.96	11	-3.16	-0.56	-24	0.04	-26	-37	-13	-17
OPM %	-6.16	6.07	-1.69	-0.31	-39.62	0.02	-15.69	-26.89	-8.18	-13.60
Other Income	3.05	4.70	3.18	6.28	4.38	4.75	-34	551	12	4.78
Interest	17	17	18	17	16	18	18	-9.60	4.98	5.26
Depreciation	0.31	0.36	0.37	0.39	0.38	0.45	0.46	0.35	0.44	0.48
Profit Before Tax	-23	-1.65	-18	-12	-36	-14	-79	523	-6.50	-18
Tax %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.64	0.00	0.00
Net Profit	-23	-1.65	-18	-12	-36	-14	-79	520	-6.50	-18
EPS in Rs	-3.43	-0.25	-2.63	-1.75	-5.27	2.08	-11.77	77.39	-0.95	-2.70

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	177	279	511	331	415	434	631	704	536	640
Expenses	336	449	484	390	388	433	625	705	622	716
Operating Profit	-159	-170	27	-59	27	0.84	6.30	-1.00	-86	-76
OPM %	-89.79	-60.76	5.33	-17.76	6.44	0.19	1.00	-0.14	-16.07	-11.87
Other Income	6.11	66	117	21	21	34	11	17	526	533
Interest	97	78	68	58	54	66	67	70	43	32
Depreciation	8.99	5.74	3.26	2.77	2.90	1.16	1.19	1.44	1.64	1.70
Profit Before Tax	-259	-187	73	-98	-8.29	-32	-51	-55	395	424
Tax %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.84	0.79
Net Profit	-259	-187	73	-98	-8.29	-32	-51	-55	392	421
EPS in Rs	—	—	7.92	-14.58	-1.42	-4.39	-8.24	-8.06	62.43	61.97
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	67	67	67	67	67	67	67	67	67	67
Reserves	-1,121	52	-33	43	-50	-36	-72	-118	-119	978
Borrowings	608	343	522	520	434	436	814	814	834	206
Other Liabilities	672	1,355	1,103	921	923	972	666	710	790	313
Total Liabilities	227	1,817	1,659	1,551	1,374	1,440	1,475	1,474	1,572	1,564
Fixed Assets	125	1,689	154	169	174	135	154	164	225	227
CWIP	4.42	4.36	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.85
Investments	0.05	0.10	0.10	1.00	0.93	0.93	0.94	0.92	0.89	0.87
Other Assets	97	123	1,504	1,381	1,200	1,305	1,320	1,309	1,347	1,333
Total Assets	227	1,817	1,659	1,551	1,374	1,440	1,475	1,474	1,572	1,564

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	46	59	-451	-160	-81	-50	9.93	-13	-66	631
Cash from Investing Activity	-6.47	-0.19	343	112	164	7.52	11	7.41	56	10
Cash from Financing Activity	-48	-59	179	3.29	-90	52	-32	-10	5.76	-642
Net Cash Flow	-8.33	0.13	72	-45	-7.64	9.37	-11	-16	-3.91	-0.54

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	58.78%	58.78%	58.78%	58.78%	58.78%	58.78%	58.78%	58.78%	58.78%	58.78%	58.78%	58.78%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
Public	41.21%	41.21%	41.21%	41.21%	41.21%	41.21%	41.21%	41.21%	41.21%	41.21%	41.21%	41.21%
Total Shareholders	48,265	47,994	47,628	47,229	49,503	53,784	56,879	60,134	59,953	61,922	62,163	61,587

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Mar 05, 2025	Sudhaben prafulchandra vaidya	Bulk	Buy	24.98	1.47 Cr	5,90,000	0.87
Mar 04, 2025	Sudhaben prafulchandra vaidya	Bulk	Sell	24.50	1.45 Cr	5,90,000	0.87
Jul 26, 2024	Choksi colours pvt ltd	Bulk	Buy	60.69	2.11 Cr	3,48,240	0.51
Dec 28, 2023	Sudhaben prafulchandra vaidya	Bulk	Sell	47.32	1.87 Cr	3,96,168	0.58

Projection

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Presentations

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	145	189	187	183	59	175	165	137	164	126
Expenses	154	177	190	183	83	175	191	173	177	143
Operating Profit	-8.96	11	-3.16	-0.56	-24	0.04	-26	-37	-13	-17
OPM %	-6.16	6.07	-1.69	-0.31	-39.62	0.02	-15.69	-26.89	-8.18	-13.60
Other Income	3.05	4.70	3.18	6.28	4.38	4.75	-34	551	12	4.78
Interest	17	17	18	17	16	18	18	-9.60	4.98	5.26
Depreciation	0.31	0.36	0.37	0.39	0.38	0.45	0.46	0.35	0.44	0.48
Profit Before Tax	-23	-1.65	-18	-12	-36	-14	-79	523	-6.50	-18
Tax %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.64	0.00	0.00
Net Profit	-23	-1.65	-18	-12	-36	-14	-79	520	-6.50	-18
EPS in Rs	-3.43	-0.25	-2.63	-1.75	-5.27	2.08	-11.77	77.39	-0.95	-2.70

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	177	279	511	331	415	434	631	704	536	640
Expenses	336	449	484	390	388	433	625	705	622	716
Operating Profit	-159	-170	27	-59	27	0.84	6.30	-1.00	-86	-76
OPM %	-89.79	-60.76	5.33	-17.76	6.44	0.19	1.00	-0.14	-16.07	-11.87
Other Income	6.11	66	117	21	21	34	11	17	526	533
Interest	97	78	68	58	54	66	67	70	43	32
Depreciation	8.99	5.74	3.26	2.77	2.90	1.16	1.19	1.44	1.64	1.70
Profit Before Tax	-259	-187	73	-98	-8.29	-32	-51	-55	395	424
Tax %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.84	0.79
Net Profit	-259	-187	73	-98	-8.29	-32	-51	-55	392	421
EPS in Rs	—	—	7.92	-14.58	-1.42	-4.39	-8.24	-8.06	62.43	61.97
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	67	67	67	67	67	67	67	67	67	67
Reserves	-1,121	52	-33	43	-50	-36	-72	-118	-119	978
Borrowings	608	343	522	520	434	436	814	814	834	206
Other Liabilities	672	1,355	1,103	921	923	972	666	710	790	313
Total Liabilities	227	1,817	1,659	1,551	1,374	1,440	1,475	1,474	1,572	1,564
Fixed Assets	125	1,689	154	169	174	135	154	164	225	227
CWIP	4.42	4.36	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.85
Investments	0.05	0.10	0.10	1.00	0.93	0.93	0.94	0.92	0.89	0.87
Other Assets	97	123	1,504	1,381	1,200	1,305	1,320	1,309	1,347	1,333
Total Assets	227	1,817	1,659	1,551	1,374	1,440	1,475	1,474	1,572	1,564

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	46	59	-451	-160	-81	-50	9.93	-13	-66	631
Cash from Investing Activity	-6.47	-0.19	343	112	164	7.52	11	7.41	56	10
Cash from Financing Activity	-48	-59	179	3.29	-90	52	-32	-10	5.76	-642
Net Cash Flow	-8.33	0.13	72	-45	-7.64	9.37	-11	-16	-3.91	-0.54

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Hindustan Organic Chemicals Ltd, a government undertaking, specializes in the manufacturing of bulk industrial chemicals and intermediates, serving industries like resins, pharmaceuticals, and dyes.

The company operates two main production units in Maharashtra and Kerala, and a subsidiary unit in Hyderabad under Hindustan Fluorocarbons Ltd.

Historically, the company received technical collaborations from global players like Asahi Chemicals for caustic soda production, enhancing its technological capabilities.

HOCL achieved ISO 9001 and ISO 14001 certifications, ensuring quality and environmental compliance in its operations.

Despite past financial challenges, HOCL successfully overcame its 'SICK Unit' status and continues to focus on optimizing resource utilization and expanding production capacities.

Sector

Chemicals

Industry

Chemicals - Benzene-based

Market Cap

208 Cr

Volatility

Moderate Risk

P/E Ratio

—

Industry P/E

—

PEG Ratio

—

P/B Ratio

0.2

52W High

45.00

52W Low

22.36

Sales CAGR

-23.87%

7.31%

12.30%

10Y

18.00%

Profit CAGR

824.66%

—

10Y

—

ROE

TTM

-8.82%

33.98%

32.24%

10Y

-175.50%

ROCE

TTM

-5.67%

33.72%

30.21%

10Y

8.06%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SHAWGELTIN	350.45	209 Cr	8.98	1.71	2.89	18.47	22.90	14.26
KKALPANAIND	10.00	209 Cr	500.00	5.97	0.00	3.66	8.32	0.21
HOCL	31.90	208 Cr	—	0.20	0.00	-8.82	-5.67	27.06
JDORGOCHEM	15.04	205 Cr	13.44	1.59	0.33	11.80	12.85	7.05
COCHINM	262.45	205 Cr	12.20	1.24	3.06	10.13	15.49	8.46
AKSHARCHEM	248.80	199 Cr	888.57	0.76	0.30	0.09	1.86	0.45
PATELCHEM	80.55	199 Cr	18.82	2.11	0.00	12.33	14.22	8.81