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

Platinum Industries Ltd

PLATIND
Speciality Chemicals

Platinum Industries Ltd's earnings have outrun its stock. EPS grew +4.3% in a year against a −27.0% price move.

The sharpest disagreement: profits are rising, but only 17% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.

The price is in a downtrend (73 weeks in) while the P/E sits at the 24th percentile of its own 2-year range. Underneath, the last four quarters read improving — profit +150.0% year on year, and 17% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.

Stage
Improving
partial read
Price
₹229
−27.0% 1Y
P/E
23.9×
24th pctile
of its own 2-year range
Revenue (Mar 26)
₹132 Cr
+36.1% YoY
Profit (Mar 26)
₹15.0 Cr
+150.0% YoY
Operating margin
12.0%
+4.0 pp YoY
ROCE
16%
FY26
ROIC
13.7%
vs WACC 12.0% → +1.7 pp
Cash conversion
17%
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. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
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.

Platinum Industries Ltd trades at ₹229, in a downtrend and 73 weeks into that stage. That is −4.4% against its own 200-day average. It sits at 27% of a 52-week range of ₹195 to ₹323. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week.

Today the stock is in a downtrend — week 73 of stage 4, confirmed. At ₹229 it trades −4.4% versus its 200-day average and sits at 27% of its 52-week range (₹195–₹323).

Jul 26: ₹229 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 2-year window.
−4.4% versus the 200-day line, week 73 of stage 4
Price50-day avg200-day avg
S4S2S4₹513₹421₹329₹238₹146₹229₹240Mar 24Oct 24May 25Jan 26Jul 26
S4S2S4₹513₹421₹329₹238₹146₹229₹240Mar 24May 25Jul 26
Beating or trailing, week by week since 2024 Each cell is one week from 2024 to now (128 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 24Jul 26

Against the market, two honest reads. Cumulative: over the last 2.4 years the stock moved +12% while the NIFTY 500 moved +19% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 1 straight week — 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 24th 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.

Platinum Industries Ltd trades at 23.9× P/E, near the bottom of its own range — cheaper only 24% of the time. Its long-run median P/E is 29.4×, measured across 2.4 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 23.9× is near the bottom of its own range — cheaper only 24% of the time, against a long-run median of 29.4× measured over 2.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 23.9× vs a 29.4× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 2.4-year window; loss-period spikes above 43× 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 24% of the time
P/EMedianEPS (TTM) (quarterly)
45.1×₹11.337.9×₹8.530.6×₹5.723.4×₹2.816.2×₹0.0×23.90×₹10Mar 24Oct 24Jun 25Jan 26Jul 26
45.1×₹11.337.9×₹8.530.6×₹5.723.4×₹2.816.2×₹0.0×23.90×₹10Mar 24Jun 25Jul 26
P/E
23.9×
24th percentile of 2y

Why the multiple sits where it does: over the past year annual EPS moved +4.3% against a −27.0% price move — earnings outran the price, pushing the multiple DOWN its own range.

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

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ 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: Improving

Stage: Improving 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).

Platinum Industries Ltd reads as improving on its fundamental arc. Improving — profit growth bottomed 3 quarters ago at −27.8% and has held its recovery at +150.0% (single-quarter readings), ROCE slipping at 16.0%. The read is built from 10 quarters across 3 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. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
72%169%51%99%30%29%9.0%−41%−12%−110%%%36.1%150%5.9%Jun 23Sep 24Mar 26
72%169%51%99%30%29%9.0%−41%−12%−110%%%36.1%150%5.9%Jun 23Sep 24Mar 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
80%63%46%28%11%%16%FY23FY24FY26
80%63%46%28%11%%16%FY23FY24FY26
Revenue growth
Rising
latest +36.1% · span −6.2% to +63.9%
Profit growth
Rising
latest +150.0% · span −45.5% to +63.6%
ROCE
Falling
latest 16.0% · span 16.0%–75.0%

Why it matters: a sustained climb off the trough is the setup this page is built to catch — the question moves to what you pay for it.

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.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Growth, year by year: revenue +14.8% in FY26, profit +2.0% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
119%297%91%192%63%87%35%−18%6.5%−123%%%14.8%2%FY21FY23FY26
119%297%91%192%63%87%35%−18%6.5%−123%%%14.8%2%FY21FY23FY26
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 (+14.5%) with the last 8 annualized (+30.6%).
revenue rolling over, profit rolling over
Revenue TTM YoYProfit TTM YoYEPS TTM YoY
58%43%45%7.2%32%−29%20%−65%6.9%−101%%%14.5%0%Jun 23Sep 24Mar 26
58%43%45%7.2%32%−29%20%−65%6.9%−101%%%14.5%0%Jun 23Sep 24Mar 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+14.8%+24.9%+38.3%
Profit+2.0%+10.3%+59.1%
EPS+4.3%+0.1%−27.1%
Share price−27.0%
Revenue YoY (Mar 26)
+36.1%
latest quarter vs a year ago
Profit YoY (Mar 26)
+150.0%
latest quarter vs a year ago
Revenue 10y
38.3%
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

48.3/100 — rank 16 of 27 in Speciality Chemicals · 70% evidence confidence

Platinum Industries Ltd scores 48.3 out of 100 against the 27 companies it is compared with in Speciality Chemicals, ranking 16. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 17.3 + 13.8 + 10.8 + 6.4 = 48.3. 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.

Platinum Industries Ltd reported ₹132 Cr of revenue in the Mar 26 quarter, +36.1% year on year. That is the 2nd straight quarter of year-on-year growth. Over 5 years it has compounded at 38.3% a year. The last full year, FY26, came in at ₹450 Cr. The last four reported quarters add to ₹450 Cr.

Platinum Industries Ltd reported ₹132 Cr of revenue in the Mar 26 quarter, +36.1% year on year. That is the 2nd straight quarter of year-on-year growth. Over 5 years it has compounded at 38.3% a year. The last full year, FY26, came in at ₹450 Cr. The last four reported quarters add to ₹450 Cr.

FY26 revenue came in at ₹450 Cr (+14.8% on the year), capping 5 years at 38.3% compound. The latest quarter (Mar 26) printed ₹132 Cr, +36.1% year on year — the 2nd consecutive quarter of year-over-year growth.

FY26 revenue ₹450 Cr (+14.8% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 6-year window. A bar is red when it is lower than the year before.
38.3% a year over 5 years
RevenueYoY growth
486119%36591%24363%12235%06.5%₹ Cr%₹45014.8%FY21FY23FY26
486119%36591%24363%12235%06.5%₹ Cr%₹45014.8%FY21FY23FY26
Mar 26: ₹132 Cr (+36.1% 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.
2nd straight quarter of growth
Revenue (quarterly)YoY growth
14372%10751%7130%369.0%0−12%₹ Cr%₹13236.1%Jun 23Sep 24Mar 26
14372%10751%7130%369.0%0−12%₹ Cr%₹13236.1%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +14.7% growth against the decade's 38.3% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +14.5% over the last 4 quarters against +30.6%/yr over the last 8 — rolling over; TTM profit +0.0% vs +8.9%/yr — rolling over.

→ Revenue grew — did margins hold as it scaled? Next: 12.0% this quarter (+4.0 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.

Platinum Industries Ltd's operating margin is 12.0% in the Mar 26 quarter, +4.0 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 9.0% to 23.0%. The current quarter sits inside that band.

Platinum Industries Ltd's operating margin is 12.0% in the Mar 26 quarter, +4.0 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 9.0% to 23.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 12.0%, +4.0 pp against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 9.0%–23.0%.

Why the margin moved: operating margin went +3.5 pp year on year while gross margin went +3.9 pp — the gain came mostly from the gross line: input costs and pricing.

FY26: 13.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 6-year window.
within a 9.0–23.0% band over 6 years
operating marginYoY change (pp)
24%10%20%5.4%16%0.5%12%−4.4%7.9%−9.4%%%13%−2%FY21FY23FY26
24%10%20%5.4%16%0.5%12%−4.4%7.9%−9.4%%%13%−2%FY21FY23FY26
Mar 26: 12.0% operating margin (+4.0 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)
29%5.3%23%0.6%18%−4.0%12%−8.6%6.5%−13%%%12%4%Jun 23Sep 24Mar 26
29%5.3%23%0.6%18%−4.0%12%−8.6%6.5%−13%%%12%4%Jun 23Sep 24Mar 26

→ Margins held — did that reach the bottom line? Next: profit +150.0% 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.

Platinum Industries Ltd earned ₹15.0 Cr of net profit in the Mar 26 quarter, +150.0% year on year. Full-year FY26 profit was ₹51.0 Cr. The 5-year compound rate is 59.1%. That is 11.4% of the quarter's revenue. The same quarter a year earlier earned ₹6.0 Cr.

Platinum Industries Ltd earned ₹15.0 Cr of net profit in the Mar 26 quarter, +150.0% year on year. Full-year FY26 profit was ₹51.0 Cr. The 5-year compound rate is 59.1%. That is 11.4% of the quarter's revenue. The same quarter a year earlier earned ₹6.0 Cr.

Mar 26 profit was ₹15.0 Cr, +150.0% year on year. On the full year, FY26 printed ₹51.0 Cr (+2.0%), and the 5-year compound rate is 59.1%.

FY26 profit ₹51.0 Cr (+2.0% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 6-year window. A bar is red when it is lower than the year before.
59.1% a year over 5 years
Net profitYoY growth
55281%41206%28131%1456%0−19%₹ Cr%₹512%FY21FY23FY26
55281%41206%28131%1456%0−19%₹ Cr%₹512%FY21FY23FY26
Mar 26: ₹15.0 Cr (+150.0% 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
19166%15109%1052%5−4.4%0−61%₹ Cr%₹15150%Jun 23Sep 24Mar 26
19166%15109%1052%5−4.4%0−61%₹ Cr%₹15150%Jun 23Sep 24Mar 26

Why profit moved: revenue contributed +36.1% and the margin +4.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +23.9% vs revenue +14.7%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: 17% 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 17% of Platinum Industries Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−1.0 Cr of operating cash against ₹51.0 Cr of profit. After ₹35.0 Cr of capital spending, ₹−36.0 Cr was left as free cash.

FY26: operating cash of ₹−1.0 Cr against reported profit of ₹51.0 Cr, leaving free cash of ₹−36.0 Cr after ₹35.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 17% of profit.

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

FY26: CFO ₹−1.0 Cr vs profit ₹51.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 6-year window, annual resolution.
17% of 3-year profit arrived as cash
Operating cashNet profitFree cash
6222−19−60−100₹ Cr₹−1₹51₹−36FY21FY23FY26
6222−19−60−100₹ Cr₹−1₹51₹−36FY21FY23FY26
FY26: CFO = −2% of profit (three-year rate 17%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
115%62%8.5%−45%−98%%−2%FY21FY23FY26
115%62%8.5%−45%−98%%−2%FY21FY23FY26

🚨 Why conversion sits at 17%: the cash cycle stretched 96 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: conversion is below par and the cash cycle has stretched 96 days — the next section's job is to find where the cash is stuck.

→ So follow the cash to where it goes. Next: the 95-day cycle, in money terms.

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).

Platinum Industries Ltd's cash conversion cycle runs 95 days in FY26, up from −1 days in FY21. Capital spending ran ₹130 Cr over the last 3 years. At FY26 sales of ₹450 Cr each day of that cycle holds about ₹1.2 Cr, so roughly ₹117 Cr sits inside the business at any moment.

FY26: debtors at 101 days, inventory at 78 days — roughly 2.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 95 days, looser than FY21's −1.

The full loop: cash goes out to suppliers and production on day 0; stock waits 78 days to sell; customers pay about 101 days after that; and suppliers themselves are paid at 83 days — netting out to the 95-day cycle.

In money terms: at FY26 sales of ₹450 Cr, each day of the cycle holds about ₹1.2 Cr — so the 95-day loop keeps roughly ₹117 Cr sitting inside the business at any moment.

FY26: a 95-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 6-year window.
+96 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
109805020−9days95d78d101d83dFY21FY22FY23FY24FY26
109805020−9days95d78d101d83dFY21FY23FY26

On the investment side: capital spending of ₹130 Cr over the last 3 fiscal years against ₹13.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹45.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹35.0 Cr, work-in-progress ₹45.0 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.
a build-out
CapexWork-in-progress
876644220₹ Cr₹35₹45FY22FY23FY24FY25FY26
876644220₹ Cr₹35₹45FY22FY24FY26

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 16% and the ROIC − WACC spread is +1.7 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.⚠ unverified

Platinum Industries Ltd earns a ROCE of 16% in FY26. Return on invested capital clears the cost of that capital by +1.7 percentage points, so growth here adds value rather than only size. The wiring behind it is 11.3% net margin on 0.82× asset turns.

FY26 ROCE is 16%.

Why the return is what it is — the wiring (FY26): 11.3% net margin × 0.82× asset turns × 1.24× balance-sheet leverage ≈ 11.5% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 13.7% − 12.0% = a +1.7 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. Positive but thin — value creation with little room for error.

FY26: ROCE 16% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 5-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the full ladder
ROCEROIC (annual)WACC
94%72%50%28%5.9%%16%14.6%FY22FY24FY26
94%72%50%28%5.9%%16%14.6%FY22FY24FY26
Q4 FY26: ROCE 11.7% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 11 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
65%51%36%21%6.7%%11.7%13.4%Q4 FY23Q3 FY25Q4 FY26
65%51%36%21%6.7%%11.7%13.4%Q4 FY23Q3 FY25Q4 FY26

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.02.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Platinum Industries Ltd carries total debt of ₹10.0 Cr against shareholder equity of ₹455 Cr as of Mar 26, a debt-to-equity of 0.02 — effectively unlevered. On the annual view that ratio went from 0.31 in FY23 to 0.02 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹10.0 Cr against shareholder equity of ₹455 Cr — a debt-to-equity of 0.02. On the annual view, debt-to-equity went from 0.31 (FY23) to 0.02 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹10.0 Cr at 0.02× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 4-year window.
Total debtDebt-to-equity
240.33×180.25×120.17×60.08×00.00×₹ Cr×₹100.02×FY23FY24FY26
240.33×180.25×120.17×60.08×00.00×₹ Cr×₹100.02×FY23FY24FY26
Mar 26: debt ₹10.0 Cr, debt-to-equity 0.02 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 11 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
290.33×220.25×150.17×70.08×00.00×₹ Cr×₹100.02×Mar 23Dec 24Mar 26
290.33×220.25×150.17×70.08×00.00×₹ Cr×₹100.02×Mar 23Dec 24Mar 26

→ Who owns this, and are they adding or leaving? Next: Foreign institutions cut 3.5 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.

Foreign institutions cut 3.5 points of Platinum Industries Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 0.3% of the company. Promoters moved −1.0 points over the same window, to 70.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −3.5 points over 8 quarters to 0.3%; Promoters: −1.0 points over 8 quarters to 70.0%; Domestic institutions: +1.0 points over 8 quarters to 3.7%.

🚨 Why the register moved: foreign institutions drove it (−3.5 points), alongside promoters (−1.0 points) — distribution into the market’s bid.

Fiscal-year ends: promoters −1.0 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
77%56%36%15%−5.0%%70.0%0.6%3.6%25.8%Mar 24Mar 25Mar 26
77%56%36%15%−5.0%%70.0%0.6%3.6%25.8%Mar 24Mar 25Mar 26
Foreign institutions cut 3.5 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 10 quarters.
PromotersForeign inst.Domestic inst.Public
77%56%36%15%−5.3%%70.0%0.3%3.7%26.0%Mar 24Mar 25Jun 26
77%56%36%15%−5.3%%70.0%0.3%3.7%26.0%Mar 24Mar 25Jun 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.

Platinum Industries Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Related companies · same sector · Speciality Chemicals 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
Platinum Industries Ltd this page23.9×₹1,251 CrImproving
Pidilite Industries Ltd64.9×₹1.6L CrConsistent
Aether Industries Ltd83.7×₹18,945 CrMixed
Aarti Industries Ltd42.1×₹17,331 CrTurning around
Anupam Rasayan India Ltd83.6×₹14,226 CrImproving
Privi Speciality Chemicals Ltd42.9×₹14,044 CrMixed
Vinati Organics Ltd30.4×₹13,478 CrTopping out
Alkyl Amines Chemicals Ltd48.3×₹9,153 CrNo read
Clean Science & Technology Ltd33.4×₹7,663 CrDeteriorating
Galaxy Surfactants Ltd24.8×₹6,896 CrMixed
Neogen Chemicals Ltd159.0×₹5,648 CrMixed
Fineotex Chemical Ltd37.7×₹4,610 CrTurning around
Vishnu Chemicals Ltd29.9×₹4,257 CrMixed
Tatva Chintan Pharma Chem Ltd76.9×₹4,029 CrTurning around
Yasho Industries Ltd147.0×₹3,704 CrImproving
Grauer & Weil (India) Ltd20.4×₹3,354 CrTurning around
Panama Petrochem Ltd14.2×₹3,014 CrTurning around
Fineotex Chemical Ltd28.3×₹2,551 CrTurning around
Thirumalai Chemicals Ltd₹2,022 CrNo read
Paushak Ltd41.6×₹1,387 CrMixed
Amines & Plasticizers Ltd29.3×₹1,069 CrTopping out
Sunshield Chemicals Ltd35.5×₹1,051 CrTurning around
Vikram Thermo (India) Ltd20.0×₹768 CrMixed
Sunshield Chemicals Ltd29.2×₹720 CrTurning around
DMCC Speciality Chemicals Ltd24.9×₹680 CrMixed
Chemcon Speciality Chemicals Ltd27.4×₹647 CrImproving
Amal Ltd23.0×₹628 CrNo read
Transpek Industry Ltd13.0×₹595 CrDeteriorating
Kronox Lab Sciences Ltd20.7×₹573 CrMixed
12 · Frequently asked questions

Frequently asked questions

What is Platinum Industries Ltd's share price today?

Platinum Industries Ltd trades at ₹229, −27.0% over the past year. The company is valued at ₹1,251 Cr. The stock sits at 27% of its 52-week range of ₹195–₹323, −4.4% versus its 200-day average. On the tape, the price is in a downtrend, 73 weeks in. — as of 24 July 2026.

What were Platinum Industries Ltd's latest quarterly results?

Platinum Industries Ltd reported revenue of ₹132 Cr and net profit of ₹15.0 Cr for the Mar 26 quarter. Revenue rose 36.1% and profit rose 150.0% year on year. Earnings per share were ₹2.75. The operating margin was 12.0%, 4.0 pp higher than a year earlier. — as of 24 July 2026.

What is Platinum Industries Ltd's revenue?

Platinum Industries Ltd reported revenue of ₹132 Cr in the Mar 26 quarter, +36.1% year on year. For the full FY26 fiscal year, revenue was ₹450 Cr (+14.8%). Over the last 5 years revenue compounded at 38.3% a year. — as of 24 July 2026.

What is Platinum Industries Ltd's profit?

Platinum Industries Ltd earned ₹15.0 Cr of net profit in the Mar 26 quarter, +150.0% year on year. Full-year FY26 profit was ₹51.0 Cr. The operating margin ran 12.0% in the latest quarter. — as of 24 July 2026.

What is Platinum Industries Ltd's market cap?

Platinum Industries Ltd's market capitalisation is ₹1,251 Cr at a share price of ₹229. 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 Platinum Industries Ltd's P/E ratio?

Platinum Industries Ltd trades at a P/E of 23.9×, at the 24th percentile of its own 2-year range, against a long-run median of 29.4×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Does Platinum Industries Ltd pay a dividend?

No — Platinum Industries Ltd has recorded a dividend payout of 0% of profit in each of its last 6 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 24 July 2026.

Is Platinum Industries Ltd overvalued?

On its own history, Platinum Industries Ltd looks cheap against its own history: its P/E of 23.9× has been cheaper only 24% of the time in 2 years (long-run median 29.4×). 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 Platinum Industries Ltd growing?

Yes — Platinum Industries Ltd is growing: latest-quarter revenue +36.1% year on year, profit +150.0%, and the margin +4.0 pp at 12.0%. The 5-year compound rates are 38.3% (revenue) and 59.1% (profit). The earnings engine currently reads: improving — as of 24 July 2026.

How is Platinum Industries Ltd performing?

Platinum Industries Ltd is in a downtrend, 73 weeks in. Its latest quarter's revenue rose 36.1% and profit rose 150.0% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 1 week. This describes what the data did, not a rating. — as of 24 July 2026.

What stage is Platinum Industries Ltd in?

Improving — profit growth bottomed 3 quarters ago at −27.8% and has held its recovery at +150.0% (single-quarter readings), ROCE slipping at 16.0%. The read comes from the last 12 quarters of growth (revenue growth +36.1% latest, profit growth +150.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.

Is Platinum Industries Ltd in an uptrend?

No — the price is in a downtrend (week 73 of stage 4), trading −4.4% versus its 200-day average and at 27% 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 Platinum Industries Ltd beating the market?

On recent form, yes — Platinum Industries Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 2.4 years the stock moved +12% against the NIFTY 500's +19% — behind the index over the full window. — as of 24 July 2026.

Will Platinum Industries Ltd's share price go up?

This page publishes no price forecast for Platinum Industries Ltd. What it measures instead: the share price is ₹229, the price is in a downtrend 73 weeks in. Its P/E of 23.9× sits at the 24th percentile of its own 2-year range. — as of 24 July 2026.

Who owns Platinum Industries Ltd?

Promoters hold 70.0% of Platinum Industries Ltd, foreign institutions 0.3%, domestic institutions 3.7% and the public 26.0% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 3.5 points over 8 quarters. — as of 24 July 2026.

Does Platinum Industries Ltd have too much debt?

No — Platinum Industries Ltd's debt-to-equity is 0.02, and operating profit covers the interest bill 20×. FY26 borrowings were ₹10.0 Cr against equity of ₹443 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.

What is Platinum Industries Ltd's capex?

Platinum Industries Ltd spent ₹130 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 ₹35.0 Cr, with ₹45.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.

What is Platinum Industries Ltd's cash flow?

Platinum Industries Ltd generated ₹−1.0 Cr of operating cash flow in FY26 and ₹−36.0 Cr of free cash flow after ₹35.0 Cr of capital spending. Reported profit that year was ₹51.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is Platinum Industries Ltd's profit real cash?

Not fully — over the last 3 fiscal years, 17% of Platinum Industries Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−1.0 Cr against reported profit of ₹51.0 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 24 July 2026.

Where is Platinum Industries Ltd in its business cycle?

Platinum Industries Ltd's FY26 operating margin was 13.0%, against a 6-year band of 9.0%–23.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 12.0%. 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 Platinum Industries Ltd story?

The sharpest disagreement: profits are rising, but only 17% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. 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 Platinum Industries Ltd a stock worth studying right now?

This is not investment advice. The machine read: Platinum Industries Ltd's earnings have outrun its stock. EPS grew +4.3% in a year against a −27.0% price move. The sharpest open question: whether the cash starts following the profit. 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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