Sector Alpha Week of 2026-07-24
Sector Alpha — machine-written from the numbers · Data as of 2026-07-24

Khaitan Chemicals & Fertilizers Ltd

KHAICHEM
Fertilisers

Khaitan Chemicals & Fertilizers Ltd is cheap for a reason. The P/E sits at the 13th percentile of its own range, and the quarters are still getting worse.

The sharpest disagreement: annual EPS moved +4,657.1% against a −52.7% price move — the market has not yet caught up with the delivery.

The price is in a downtrend (30 weeks in) while the P/E sits at the 13th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating — profit −47.6% year on year, and 0% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Price
₹49.0
−52.7% 1Y
P/E
8.2×
13th pctile
of its own 10-year range
Revenue (Jun 26)
₹221 Cr
−5.6% YoY
Profit (Jun 26)
₹11.0 Cr
−47.6% YoY
Operating margin
11.0%
−3.0 pp YoY
ROCE
18%
FY26
ROIC
18.1%
vs WACC 12.0% → +6.1 pp
Cash conversion
0%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Khaitan Chemicals & Fertilizers Ltd trades at ₹49.0, in a downtrend and 30 weeks into that stage. That is −25.7% against its own 200-day average. It sits at 4% of a 52-week range of ₹46 to ₹129. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).

Today the stock is in a downtrend — week 30 of stage 4, confirmed. At ₹49.0 it trades −25.7% versus its 200-day average and sits at 4% of its 52-week range (₹46–₹129).

Jul 26: ₹49.0 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−25.7% versus the 200-day line, week 30 of stage 4
Price50-day avg200-day avg
S4S2S4S2S4S2S4₹136₹112₹87.7₹63.6₹39.4₹49₹66Jul 23Apr 24Jan 25Oct 25Jul 26
S4S2S4S2S4S2S4₹136₹112₹87.7₹63.6₹39.4₹49₹66Jul 23Jan 25Jul 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (544 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Jul 26

Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +487% while the NIFTY 500 moved +274% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-06-19) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 13th percentile of its own range.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Khaitan Chemicals & Fertilizers Ltd trades at 8.2× P/E, near the bottom of its own range — cheaper only 13% of the time. Its long-run median P/E is 15.8×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 8.2× is near the bottom of its own range — cheaper only 13% of the time, against a long-run median of 15.8× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 8.2× vs a 15.8× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.4-year window; loss-period spikes above 48× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
near the bottom of its own range — cheaper only 13% of the time
P/EMedianEPS (TTM) (quarterly)
50.9×₹9.038.7×₹6.826.5×₹4.514.2×₹2.32.0×₹0.0×8.20×₹6Feb 16Jun 18Sep 20Jan 23Jul 26
50.9×₹9.038.7×₹6.826.5×₹4.514.2×₹2.32.0×₹0.0×8.20×₹6Feb 16Sep 20Jul 26
P/E
8.2×
13th percentile of 10y

Why the multiple sits where it does: over the past year annual EPS moved +4,657.1% against a −52.7% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the −4.8%/yr price move, ~+18.3%/yr came from earnings growth and ~−23.1 pp from the multiple (compressing); over 10y, of the +16.7%/yr price move, ~+44.6%/yr came from earnings growth and ~−27.9 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

03 · Stage: No read

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Khaitan Chemicals & Fertilizers Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 8 quarters across 2 curves, on partial evidence.

Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
75%348%47%174%20%0.0%−8.3%−174%−36%−348%%%19.9%−47.6%36.9%Sep 23Dec 24Jun 26
75%348%47%174%20%0.0%−8.3%−174%−36%−348%%%19.9%−47.6%36.9%Sep 23Dec 24Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
20%13%5.0%−2.5%−10%%18%FY23FY24FY26
20%13%5.0%−2.5%−10%%18%FY23FY24FY26
Revenue growth
Rolling over
latest +19.9% · span −28.4% to +67.5%
ROCE
Rising
latest 18.0% · span −8.0%–18.0%

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Growth, year by year: revenue +39.2% in FY26, profit +6,400.0% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
80%345%48%181%16%16%−16%−148%−48%−313%%%39.2%300%FY16FY21FY26
80%345%48%181%16%16%−16%−148%−48%−313%%%39.2%300%FY16FY21FY26
TTM growth by quarter Trailing-twelve-month growth versus the year-ago TTM, per quarter, %: revenue (left axis); profit and EPS (right axis). The acceleration read compares the last 4 quarters (+19.9%) with the last 8 annualized (+40.5%). Spikes shown pinned (▲).
revenue rolling over
Revenue TTM YoYProfit TTM YoYEPS TTM YoY
75%348%47%174%20%0.0%−8.3%−174%−36%−348%%%19.9%32.5%Sep 23Dec 24Jun 26
75%348%47%174%20%0.0%−8.3%−174%−36%−348%%%19.9%32.5%Sep 23Dec 24Jun 26
Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+39.2%+4.1%+15.8%+9.8%
Profit+6,400.0%+15.7%+21.1%+41.6%
EPS+4,657.1%+15.3%+21.1%+44.3%
Share price−52.7%−9.3%−4.8%+16.7%
Revenue YoY (Jun 26)
−5.6%
latest quarter vs a year ago
Profit YoY (Jun 26)
−47.6%
latest quarter vs a year ago
Revenue 10y
9.8%
long-run compound pace

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

04 · 4-Factor Sector Score

4-Factor Sector Score

50.0/100 — rank 8 of 15 in Fertilisers · 74% evidence confidence

Khaitan Chemicals & Fertilizers Ltd scores 50.0 out of 100 against the 15 companies it is compared with in Fertilisers, ranking 8. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 20.5 + 14.6 + 11.1 + 3.8 = 50. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Khaitan Chemicals & Fertilizers Ltd reported ₹221 Cr of revenue in the Jun 26 quarter, −5.6% year on year. Over 10 years it has compounded at 9.8% a year. The last full year, FY26, came in at ₹1,002 Cr. The last four reported quarters add to ₹989 Cr.

Khaitan Chemicals & Fertilizers Ltd reported ₹221 Cr of revenue in the Jun 26 quarter, −5.6% year on year. Over 10 years it has compounded at 9.8% a year. The last full year, FY26, came in at ₹1,002 Cr. The last four reported quarters add to ₹989 Cr.

FY26 revenue came in at ₹1,002 Cr (+39.2% on the year), capping 10 years at 9.8% compound. The latest quarter (Jun 26) printed ₹221 Cr, −5.6% year on year.

FY26 revenue ₹1,002 Cr (+39.2% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
9.8% a year over 10 years
RevenueYoY growth
1.1k80%81248%54116%271−16%0−48%₹ Cr%₹1,00239.2%FY16FY21FY26
1.1k80%81248%54116%271−16%0−48%₹ Cr%₹1,00239.2%FY16FY21FY26
Jun 26: ₹221 Cr (−5.6% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
334239%250155%16772%83−12%0−95%₹ Cr%₹221−5.6%Sep 23Dec 24Jun 26
334239%250155%16772%83−12%0−95%₹ Cr%₹221−5.6%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged +20.5% growth against the decade's 9.8% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +19.9% over the last 4 quarters against +40.5%/yr over the last 8 — rolling over.

→ Revenue slipped — did margins hold as it scaled? Next: 11.0% this quarter (−3.0 pp YoY).

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Khaitan Chemicals & Fertilizers Ltd's operating margin is 11.0% in the Jun 26 quarter, −3.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −6.0% to 15.0%. The current quarter sits inside that band.

Khaitan Chemicals & Fertilizers Ltd's operating margin is 11.0% in the Jun 26 quarter, −3.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −6.0% to 15.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 11.0%, −3.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −6.0%–15.0%.

🚨 Why the margin moved: operating margin went −2.9 pp year on year while gross margin went −10.8 pp — the loss came mostly from the gross line: input costs and pricing.

FY26: 11.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a −6.0–15.0% band over 13 years
operating marginYoY change (pp)
17%11%11%4.0%4.5%−3.0%−1.6%−10.0%−7.7%−17%%%11%8%FY14FY20FY26
17%11%11%4.0%4.5%−3.0%−1.6%−10.0%−7.7%−17%%%11%8%FY14FY20FY26
Jun 26: 11.0% operating margin (−3.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
19%71%0.0%35%−20%0.0%−40%−37%−59%−73%%%11%−3%Sep 23Dec 24Jun 26
19%71%0.0%35%−20%0.0%−40%−37%−59%−73%%%11%−3%Sep 23Dec 24Jun 26

→ Margins slipped — did that reach the bottom line? Next: profit −47.6% in the latest quarter.

07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Khaitan Chemicals & Fertilizers Ltd earned ₹11.0 Cr of net profit in the Jun 26 quarter, −47.6% year on year. Full-year FY26 profit was ₹65.0 Cr. The 10-year compound rate is 41.6%. That is 5.0% of the quarter's revenue. The same quarter a year earlier earned ₹21.0 Cr. 4 of the last 12 reported quarters were loss-making.

Khaitan Chemicals & Fertilizers Ltd earned ₹11.0 Cr of net profit in the Jun 26 quarter, −47.6% year on year. Full-year FY26 profit was ₹65.0 Cr. The 10-year compound rate is 41.6%. That is 5.0% of the quarter's revenue. The same quarter a year earlier earned ₹21.0 Cr. 4 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹11.0 Cr, −47.6% year on year. On the full year, FY26 printed ₹65.0 Cr (+6,400.0%), and the 10-year compound rate is 41.6%.

FY26 profit ₹65.0 Cr (+6,400.0% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
41.6% a year over 10 years
Net profitYoY growth
926,933%495,000%53,067%−391,133%−82−800%₹ Cr%₹656,400%FY16FY21FY26
926,933%495,000%53,067%−391,133%−82−800%₹ Cr%₹656,400%FY16FY21FY26
Jun 26: ₹11.0 Cr (−47.6% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
2697%9−59%−8−216%−25−372%−42−528%₹ Cr%₹11−47.6%Sep 23Dec 24Jun 26
2697%9−59%−8−216%−25−372%−42−528%₹ Cr%₹11−47.6%Sep 23Dec 24Jun 26

🚨 Why profit moved: revenue contributed −5.6% and the margin −3.0 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit −27.6% vs revenue +20.5%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

→ Profit rose — but did the cash follow? Next: 0% of the last 3 years' profit arrived as cash.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 0% of Khaitan Chemicals & Fertilizers Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹44.0 Cr of operating cash against ₹65.0 Cr of profit. After ₹3.0 Cr of capital spending, ₹41.0 Cr was left as free cash.

FY26: operating cash of ₹44.0 Cr against reported profit of ₹65.0 Cr, leaving free cash of ₹41.0 Cr after ₹3.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 0% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹44.0 Cr vs profit ₹65.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
0% of 3-year profit arrived as cash
Operating cashNet profitFree cash
10947−15−77−139₹ Cr₹44₹65₹41FY16FY21FY26
10947−15−77−139₹ Cr₹44₹65₹41FY16FY21FY26
FY26: CFO = 68% of profit (three-year rate 0%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
341%193%45%−103%−251%%68%FY16FY21FY26
341%193%45%−103%−251%%68%FY16FY21FY26

🚨 Why conversion sits at 0%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

→ So follow the cash to where it goes. Next: a 119-day cycle and ₹22.0 Cr of building.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Khaitan Chemicals & Fertilizers Ltd's cash conversion cycle runs 119 days in FY26, down from 124 days in FY21. Capital spending ran ₹22.0 Cr over the last 3 years. At FY26 sales of ₹1,002 Cr each day of that cycle holds about ₹2.7 Cr, so roughly ₹327 Cr sits inside the business at any moment.

FY26: debtors at 23 days, inventory at 128 days — roughly 4.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 119 days, tighter than FY21's 124.

The full loop: cash goes out to suppliers and production on day 0; stock waits 128 days to sell; customers pay about 23 days after that; and suppliers themselves are paid at 31 days — netting out to the 119-day cycle.

In money terms: at FY26 sales of ₹1,002 Cr, each day of the cycle holds about ₹2.7 Cr — so the 119-day loop keeps roughly ₹327 Cr sitting inside the business at any moment.

FY26: a 119-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
−5 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
275206137670days119d128d23d31dFY14FY17FY20FY23FY26
275206137670days119d128d23d31dFY14FY20FY26

On the investment side: capital spending of ₹22.0 Cr over the last 3 fiscal years against ₹33.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹3.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹3.0 Cr, work-in-progress ₹3.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
37281890₹ Cr₹3₹3FY16FY18FY21FY23FY26
37281890₹ Cr₹3₹3FY16FY21FY26

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 18% and the ROIC − WACC spread is +6.1 pp.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Khaitan Chemicals & Fertilizers Ltd earns a ROCE of 18% in FY26. That is up from a trough of −8% in FY24. Return on invested capital clears the cost of that capital by +6.1 percentage points, so growth here adds value rather than only size. The wiring behind it is 6.5% net margin on 1.47× asset turns.

FY26 ROCE is 18%, recovered from a FY24 trough of −8% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 6.5% net margin × 1.47× asset turns × 2.35× balance-sheet leverage ≈ 22.5% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 18.1% − 12.0% = a +6.1 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

FY26: ROCE 18% Return on capital employed by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY24's −8%
ROCEWACC
40%27%14%1.2%−12%%18%FY14FY17FY20FY23FY26
40%27%14%1.2%−12%%18%FY14FY20FY26

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 1.05.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Khaitan Chemicals & Fertilizers Ltd carries ₹306 Cr of borrowings against ₹291 Cr of equity in FY26, a debt-to-equity of 1.05. Operating profit covers the interest bill 4×. Over 5 years borrowings went from ₹79.0 Cr to ₹306 Cr. Capital spending ran ₹22.0 Cr across the last 3 of those years.

FY26: borrowings of ₹306 Cr against equity of ₹291 Cr — a debt-to-equity of 1.05. Operating profit covers the interest bill 4×. Over 5 years borrowings went from ₹79.0 Cr to ₹306 Cr while capital spending ran ₹22.0 Cr in just the last 3 — part of the build-out is riding on borrowed money.

FY26: borrowings ₹306 Cr at 1.05× equity Borrowings by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 13-year window. Quarterly balance-sheet history is not held for India — annual is the honest resolution.
the debt trajectory
BorrowingsDebt-to-equity
3432.0×2581.6×1721.2×860.7×00.3×₹ Cr×₹3061.05×FY14FY17FY20FY23FY26
3432.0×2581.6×1721.2×860.7×00.3×₹ Cr×₹3061.05×FY14FY20FY26

→ Who owns this, and are they adding or leaving? Next: Promoters cut 2.3 points over 8 quarters.

12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 2.3 points of Khaitan Chemicals & Fertilizers Ltd over 8 quarters, the biggest move on the register. That takes promoters to 72.7% of the company. Foreign institutions moved +0.0 points over the same window, to 0.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −2.3 points over 8 quarters to 72.7%; Foreign institutions: +0.0 points over 8 quarters to 0.1%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.

🚨 Why the register moved: promoters drove it (−2.3 points) — distribution into the market’s bid.

Fiscal-year ends: promoters −2.3 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
81%59%38%16%−6.0%%72.7%0.3%0%27.0%Mar 24Mar 25Mar 26
81%59%38%16%−6.0%%72.7%0.3%0%27.0%Mar 24Mar 25Mar 26
Promoters cut 2.3 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
81%59%38%16%−6.0%%72.7%0.1%0%27.2%Jun 23Dec 24Jun 26
81%59%38%16%−6.0%%72.7%0.1%0%27.2%Jun 23Dec 24Jun 26

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Khaitan Chemicals & Fertilizers Ltd: the Z-score reads 4.05. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits well clear of distress. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.

Why it matters: a Z-score of 4.05 sits well clear of the distress zone — the balance sheet is not the risk here.

The safety line in one sentence: the Z-score reads 4.05.

Related companies · same sector · Fertilisers Every company is compared on the shape of its own curves, not static ratios. The Revenue, EPS and ROCE columns each draw that company's last 12 quarters as a mini line of the ACTUAL level (trailing-twelve-month revenue and EPS, and the ROCE itself) — so a line that climbs is a business getting bigger, a line that sinks is one shrinking. The colour tracks the same line: green when it is rising or steadily healthy, amber when it is rolling over from a high (still elevated but turning down), red when it is falling, grey when flat or stuck. Colour and direction always agree — a green line never points down. The ROCE curve is the return on capital (annual readings for peers, so a slightly coarser line than the quarterly one at the top of this page). The Stage column then runs the same 12-quarter trajectory classifier used at the top of the page on each company and names where it sits. What lands a company in each bucket: CONSISTENT — growth stays positive across the window and returns are healthy (ROCE ≥ 15%, or ROE ≥ 12% for lenders); IMPROVING — profit or EPS fell into real decline, bottomed a few quarters back, and has climbed back to positive and held there; TURNING AROUND — the same kind of trough but more recent, with the latest quarters just lifting off it (an early, unconfirmed turn); TOPPING OUT — growth is still positive but decelerating hard from its own peak while returns have stopped rising; DETERIORATING — two or more growth curves are shrinking (latest below zero) and staying there, not one soft quarter; MIXED — the curves genuinely disagree, or no clean majority, so no single word fits; NO READ — fewer than eight usable quarters. It is a like-for-like read of every company against its own past, not a ranking against the group.
CompanyP/EMkt capRevenueEPSROCEStage
Khaitan Chemicals & Fertilizers Ltd this page8.2×₹475 CrNo read
Coromandel International Ltd31.3×₹58,437 CrDeteriorating
Fertilizers & Chemicals Travancore Ltd3,536.0×₹52,368 CrNo read
Deepak Fertilisers & Petrochemicals Corp Ltd26.9×₹19,860 CrMixed
Chambal Fertilisers & Chemicals Ltd8.8×₹17,268 CrMixed
Paradeep Phosphates Ltd13.8×₹14,126 CrMixed
Gujarat Narmada Valley Fertilizers & Chemicals Ltd9.2×₹7,392 CrMixed
Rashtriya Chemicals & Fertilizers Ltd17.3×₹6,853 CrImproving
Madhya Bharat Agro Products Ltd41.9×₹6,495 CrMixed
Gujarat State Fertilizers & Chemicals Ltd9.2×₹6,159 CrMixed
Krishana Phoschem Ltd25.5×₹5,010 CrMixed
National Fertilizer Ltd16.3×₹3,449 CrNo read
Southern Petrochemicals Industries Corporation Ltd6.3×₹1,322 CrImproving
Madras Fertilizers Ltd12.3×₹1,069 CrNo read
Zuari Agro Chemicals Ltd3.1×₹925 CrMixed
12 · Frequently asked questions

Frequently asked questions

What is Khaitan Chemicals & Fertilizers Ltd's share price today?

Khaitan Chemicals & Fertilizers Ltd trades at ₹49.0, −52.7% over the past year. The company is valued at ₹475 Cr. The stock sits at 4% of its 52-week range of ₹46–₹129, −25.7% versus its 200-day average. On the tape, the price is in a downtrend, 30 weeks in. — as of 24 July 2026.

What were Khaitan Chemicals & Fertilizers Ltd's latest quarterly results?

Khaitan Chemicals & Fertilizers Ltd reported revenue of ₹221 Cr and net profit of ₹11.0 Cr for the Jun 26 quarter. Revenue fell 5.6% and profit fell 47.6% year on year. Earnings per share were ₹1.12. The operating margin was 11.0%, 3.0 pp lower than a year earlier. — as of 24 July 2026.

What is Khaitan Chemicals & Fertilizers Ltd's revenue?

Khaitan Chemicals & Fertilizers Ltd reported revenue of ₹221 Cr in the Jun 26 quarter, −5.6% year on year. For the full FY26 fiscal year, revenue was ₹1,002 Cr (+39.2%). Over the last 10 years revenue compounded at 9.8% a year. — as of 24 July 2026.

What is Khaitan Chemicals & Fertilizers Ltd's profit?

Khaitan Chemicals & Fertilizers Ltd earned ₹11.0 Cr of net profit in the Jun 26 quarter, −47.6% year on year. Full-year FY26 profit was ₹65.0 Cr. The operating margin ran 11.0% in the latest quarter. — as of 24 July 2026.

What is Khaitan Chemicals & Fertilizers Ltd's market cap?

Khaitan Chemicals & Fertilizers Ltd's market capitalisation is ₹475 Cr at a share price of ₹49.0. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.

What is Khaitan Chemicals & Fertilizers Ltd's P/E ratio?

Khaitan Chemicals & Fertilizers Ltd trades at a P/E of 8.2×, at the 13th percentile of its own 10-year range, against a long-run median of 15.8×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Is Khaitan Chemicals & Fertilizers Ltd overvalued?

On its own history, Khaitan Chemicals & Fertilizers Ltd looks cheap against its own history: its P/E of 8.2× has been cheaper only 13% of the time in 10 years (long-run median 15.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.

Is Khaitan Chemicals & Fertilizers Ltd growing?

Not right now — Khaitan Chemicals & Fertilizers Ltd's latest numbers are shrinking: latest-quarter revenue −5.6% year on year, profit −47.6%, and the margin −3.0 pp at 11.0%. The 10-year compound rates are 9.8% (revenue) and 41.6% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.

How is Khaitan Chemicals & Fertilizers Ltd performing?

Khaitan Chemicals & Fertilizers Ltd is in a downtrend, 30 weeks in. Its latest quarter's revenue fell 5.6% and profit fell 47.6% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 24 July 2026.

Is Khaitan Chemicals & Fertilizers Ltd in an uptrend?

No — the price is in a downtrend (week 30 of stage 4), trading −25.7% versus its 200-day average and at 4% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.

Is Khaitan Chemicals & Fertilizers Ltd beating the market?

Not lately — on a trailing-13-week view Khaitan Chemicals & Fertilizers Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-06-19), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +487% against the NIFTY 500's +274% — ahead of the index over the full window. — as of 24 July 2026.

Will Khaitan Chemicals & Fertilizers Ltd's share price go up?

This page publishes no price forecast for Khaitan Chemicals & Fertilizers Ltd. What it measures instead: the share price is ₹49.0, the price is in a downtrend 30 weeks in. Its P/E of 8.2× sits at the 13th percentile of its own 10-year range. — as of 24 July 2026.

Who owns Khaitan Chemicals & Fertilizers Ltd?

Promoters hold 72.7% of Khaitan Chemicals & Fertilizers Ltd, foreign institutions 0.1%, domestic institutions null% and the public 27.2% (latest quarter). The biggest move on the register over the last two years: Promoters cut 2.3 points over 8 quarters. — as of 24 July 2026.

Does Khaitan Chemicals & Fertilizers Ltd have too much debt?

It carries real leverage — Khaitan Chemicals & Fertilizers Ltd's debt-to-equity is 1.05, and operating profit covers the interest bill 4×. FY26 borrowings were ₹306 Cr against equity of ₹291 Cr. Read the returns on this page with that leverage in mind — as of 24 July 2026.

What is Khaitan Chemicals & Fertilizers Ltd's capex?

Khaitan Chemicals & Fertilizers Ltd spent ₹22.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹3.0 Cr, with ₹3.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.

What is Khaitan Chemicals & Fertilizers Ltd's cash flow?

Khaitan Chemicals & Fertilizers Ltd generated ₹44.0 Cr of operating cash flow in FY26 and ₹41.0 Cr of free cash flow after ₹3.0 Cr of capital spending. Reported profit that year was ₹65.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is Khaitan Chemicals & Fertilizers Ltd's profit real cash?

Not fully — over the last 3 fiscal years, 0% of Khaitan Chemicals & Fertilizers Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹44.0 Cr against reported profit of ₹65.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.

How financially safe is Khaitan Chemicals & Fertilizers Ltd?

On the balance sheet, the Z-score reads 4.05 — above roughly 3 is safe, below roughly 1.8 is the distress zone. That sits well clear of trouble. — as of 24 July 2026.

Where is Khaitan Chemicals & Fertilizers Ltd in its business cycle?

Khaitan Chemicals & Fertilizers Ltd's FY26 operating margin was 11.0%, against a 13-year band of −6.0%–15.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 11.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.

What could break the Khaitan Chemicals & Fertilizers Ltd story?

The sharpest disagreement: annual EPS moved +4,657.1% against a −52.7% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.

Is Khaitan Chemicals & Fertilizers Ltd a stock worth studying right now?

This is not investment advice. The machine read: Khaitan Chemicals & Fertilizers Ltd is cheap for a reason. The P/E sits at the 13th percentile of its own range, and the quarters are still getting worse. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.

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