Overview

Detailed Summary

Mahickra Chemicals Limited specializes in manufacturing reactive dyes, especially black reactive dyes, catering primarily to the textiles and garment industry.
Since its formation as a public company in 2017, the company has expanded its manufacturing capabilities and introduced new products like pigment pastes and specialty chemicals.
In 2022, Mahickra Chemicals acquired a 45% stake in RCN Specialities Private Limited, broadening its reach and operational scope.
The company's operations are centralized in Gujarat, where it operates an integrated manufacturing facility capable of producing a range of reactive dyes.

Sector: Chemicals & Petrochemicals
Industry: Dyes And Pigments
Market Cap: 180 Cr
Volatility: Low Risk
P/E Ratio: 71.2
Industry P/E: 42.0
PEG Ratio: 0.5
P/B Ratio: 5.1
52W High: 230.00
52W Low: 109.00

Sales CAGR

1Y: 22.58%
3Y: -4.84%
5Y: -1.33%
10Y: —

Profit CAGR

1Y: 136.45%
3Y: -8.88%
5Y: -3.28%
10Y: —

ROE

TTM: 5.72%
3Y: 6.79%
5Y: 8.44%
10Y: —

ROCE

TTM: 8.52%
3Y: 12.49%
5Y: 14.33%
10Y: —

Technicals

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Forecasts

Peers

Commodities Chemicals Chemicals & Petrochemicals Dyes And Pigments

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ASAHISONG		218.00	287 Cr	16.54	1.11	0.62	6.27	8.93	2.44
PODDARMENT		209.15	272 Cr	14.64	0.74	1.56	4.87	6.76	3.57
MAHICKRA		222.00	180 Cr	71.15	5.05	0.09	5.72	8.52	2.94
AKSHARCHEM		207.55	172 Cr	10.02	0.66	0.35	0.09	1.86	-0.91
HPIL		132.60	161 Cr	100.84	3.20	0.00	3.09	6.55	1.82
UCL		89.65	120 Cr	-36.89	2.70	0.00	-8.56	-1.90	-6.88
PROLIFE		59.00	26 Cr	5.16	0.57	0.48	5.14	7.94	3.95
Median: 7 Co.	—	207.55	172 Cr	14.64	1.11	0.35	4.87	6.76	2.44

Financial Statements

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Consolidated Half Yearly Results (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2022	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025
Sales	60	54	49	37	35	45	43	49
Expenses	60	53	47	36	36	42	43	48
Interest	0.40	0.48	0.42	0.58	0.58	0.68	0.61	0.73
Operating Profit	0.19	0.48	1.81	1.53	-0.86	2.30	0.19	1.46
OPM %	0.32	0.89	3.68	4.11	-2.48	5.14	0.44	2.98
Other Income	2.67	2.46	1.25	0.03	2.24	0.34	2.29	0.75
Depreciation	0.14	0.24	0.31	0.28	0.00	0.15	0.15	0.16
Profit Before Tax	2.33	2.23	2.33	0.69	0.81	1.81	1.72	1.33
Tax %	27.47	28.70	27.47	28.99	28.40	25.41	30.81	31.58
Net Profit	1.68	1.59	1.70	0.49	0.58	1.35	1.19	0.91
EPS in Rs	—	—	—	—	—	—	—	—

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	102	103	72	88
Expenses	101	101	71	86
Operating Profit	1.72	2.28	0.67	2.49
OPM %	1.68	2.21	0.93	2.83
Other Income	3.93	3.79	2.27	2.62
Interest	0.75	0.93	1.16	1.29
Depreciation	0.25	0.55	0.28	0.30
Profit Before Tax	4.65	4.56	1.50	3.53
Tax %	27.93	28.00	28.53	28.19
Net Profit	3.35	3.29	1.07	2.53
EPS in Rs	—	—	—	—
Dividend Payout %	4.85	16.05	22.73	6.41

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	8.12	8.12	8.12	8.12
Reserves	22	24	25	28
Borrowings	10	10	13	15
Other Liabilities	25	21	14	17
Total Liabilities	65	63	61	68
Fixed Assets	1.68	4.48	4.59	5.15
CWIP	2.93	0.43	0.70	0.00
Investments	0.00	0.05	0.05	0.05
Other Assets	61	59	55	63
Total Assets	65	63	61	68

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	3.24	2.32	-0.40	-0.19
Cash from Investing Activity	-1.44	-0.91	-1.58	-0.16
Cash from Financing Activity	-1.82	-1.40	1.95	0.40
Net Cash Flow	-0.02	0.00	-0.03	0.05

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Sep 2020	Mar 2021	Sep 2021	Mar 2022	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
Promoters	47.05%	49.82%	50.61%	51.33%	52.18%	53.05%	53.84%	54.95%	51.81%	48.57%	48.27%	40.10%
FIIs	0.59%	0.59%	0.59%	0.59%	0.59%	0.59%	0.59%	0.59%	0.59%	0.59%	0.00%	0.00%
DIIs	2.29%	2.29%	2.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	50.07%	47.30%	46.51%	48.08%	47.23%	46.36%	45.57%	44.46%	47.60%	50.84%	51.73%	59.90%
Total Shareholders	341	309	327	305	312	291	303	309	351	374	355	475

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Frequently Asked Questions about Mahickra Chemicals Ltd

Mahickra Chemicals Ltd (MAHICKRA) is currently trading at 224.45 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Mahickra Chemicals Limited specializes in manufacturing reactive dyes, especially black reactive dyes, catering primarily to the textiles and garment industry. Since its formation as a public company in 2017, the company has expanded its manufacturing capabilities and introduced new products like pigment pastes and specialty chemicals. In 2022, Mahickra Chemicals acquired a 45% stake in RCN Specialities Private Limited, broadening its reach and operational scope. The company's operations are centralized in Gujarat, where it operates an integrated manufacturing facility capable of producing a range of reactive dyes.

Over the past 52 weeks, Mahickra Chemicals Ltd has traded between a low of ₹109.00 and a high of ₹230.00. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Mahickra Chemicals Ltd has a market capitalization of approximately 180.31. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Mahickra Chemicals Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 71.15 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 180.31 Cr, Mahickra Chemicals Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Mahickra Chemicals Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Mahickra Chemicals Ltd is 71.15. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

Mahickra Chemicals Ltd

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