# DMCC Speciality Chemicals share price today (DMCC Speciality Chemicals Ltd, NSE: DMCC)

> DMCC Speciality Chemicals share price today: ₹241.50 at the NSE close on 4 November 2026, down 17.4% in a year. DMCC Speciality Chemicals (NSE: DMCC) is worth ₹603 crore, trades at a P/E of 16.1 and has closed between ₹206.60 and ₹333.15 over the past 52 weeks. > DMCC Speciality Chemicals Ltd's P/E is near the low end of its own history, higher than only 21% of past readings, and its quarterly results are still getting worse. DMCC · Speciality Chemicals · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/dmcc-speciality-chemicals-ltd

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹241.50 (−17.4% in a year)
- P/E: 16.1× (lower than 79% of the last 8.9 years)
- Revenue (Sep 2026): ₹273 Cr (+116.5% on a year ago)
- Profit (Sep 2026): ₹3.2 Cr (−43.8% on a year ago)
- Operating margin: 4.2% (−6.9 points on a year ago)
- ROCE: 15%, FY26
- ROIC: 13.5%, against a 12.0% cost of capital: +1.5 points

The main question: yearly earnings per share moved +27.0% while the share price moved −17.4%. ## What is the DMCC Speciality Chemicals share price today? DMCC Speciality Chemicals Ltd's share price was ₹241.50 at the close on 4 November 2026. It has been rising for 11 weeks. That is 13.8% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹207 and ₹333, and at that close it sat 28% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 2 weeks running. Over the last 11 years the share price moved +316% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 23 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at DMCC Speciality Chemicals this quarter? 1. Lowest operating margin in 15 quarters Operating margin was 4.2% in the September 2026 quarter, against 11.1% a year earlier. 3. Profit fell in the September 2026 quarter Profit was ₹3 crore, -43.8% on a year earlier (₹6 crore), after 2 quarters of growth. ## What are DMCC Speciality Chemicals' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), DMCC Speciality Chemicals reported revenue of ₹273 crore, up 116.5% from ₹126 crore a year earlier, and a profit of ₹3.23 crore, down 43.8% from ₹5.75 crore. ### DMCC Speciality Chemicals results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹273 crore | ₹126 crore | +116.5% |
| Profit | ₹3.23 crore | ₹5.75 crore | −43.8% |
| Earnings per share | ₹1.30 | ₹2.31 | −43.7% |
| Operating margin | 4.2% | 11.1% | −6.9 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). The newest call in our records is from 19 May 2026, about January to March 2026; a call about these results is not in our records yet. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the DMCC Speciality Chemicals share price history? DMCC Speciality Chemicals closed at ₹241.50 on 4 November 2026, down 17.4% from ₹292.30 a year earlier (7 November 2025) and down 26.5% over five years. Its highest weekly close since March 2016 was ₹441.80 on 13 April 2022. ### DMCC Speciality Chemicals share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹254.25 | −5.0% |
| 1 month ago · 1 Oct 2026 | ₹310.15 | −22.1% |
| 6 months ago · 8 May 2026 | ₹320.70 | −24.7% |
| 1 year ago · 7 Nov 2025 | ₹292.30 | −17.4% |
| 3 years ago · 3 Nov 2023 | ₹292.60 | −17.5% |
| 5 years ago · 4 Nov 2021 | ₹328.65 | −26.5% |
| 10 years ago · 4 Nov 2016 | ₹97.85 | +146.8% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹58.10 | +315.7% |
| Highest weekly close since March 2016 · 13 Apr 2022 | ₹441.80 | −45.3% |
| Lowest weekly close since March 2016 · 18 Mar 2016 | ₹55.20 | +337.5% |
| 52-week high (weekly close) · 9 Oct 2026 | ₹333.15 | −27.5% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹206.60 | +16.9% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on DMCC Speciality Chemicals? 4 Nov 2026: DMCC Speciality Chemicals closed at ₹241.50, down 5.0% on the week and down 22.1% on the month. Our read, 10 Oct 2026: DMCC has an earnings recovery to verify, but supplier financing and commodity price pass-through prevent treating the revenue surge as a proven specialty transformation. ### Earlier

- Results for July to September 2026: Revenue up 116.5% and profit down 43.8% on a year earlier. - 21 Aug 2026: ex-date for a dividend of ₹2.50 a share. - 19 May 2026: DMCC Speciality Chemicals held its results call for January to March 2026. Management guided: Specialty chemicals commercialization expected FY27-FY28 - boron specialty products and enhanced oil recovery polymer moving to commercial stage with limited early sales already initiated; scale and margin profile unknown. ### Our read of the business

April to June 2026: Operating profit rises; the latest available call predates the result. (Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What dividend does DMCC Speciality Chemicals pay? DMCC Speciality Chemicals paid ₹2.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 1.04% at the ₹241.50 close on 4 November 2026. The last was a dividend of ₹2.50 a share, ex-date 21 August 2026. ### DMCC Speciality Chemicals dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 21 Aug 2026 | ₹2.50 | Dividend |
| 22 Aug 2025 | ₹2.50 | Dividend |
| 28 Aug 2024 | ₹1 | Dividend |
| 6 Sep 2022 | ₹1 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 3 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. DMCC Speciality Chemicals Ltd paid out 23% of its profit as dividends in FY26, and it paid a dividend in 7 of its last 10 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did DMCC Speciality Chemicals management say on the latest results call? On the call for January to March 2026, held on 19 May 2026, DMCC Speciality Chemicals' management guided: Specialty chemicals commercialization expected FY27-FY28 - boron specialty products and enhanced oil recovery polymer moving to commercial stage with limited early sales already initiated; scale and margin profile unknown. > “While we did not expand our margins, we did manage to pass on all the price increases to our customers. Mathematically, it looks in percentage terms as if the margin has come down, but in absolute terms - even in a turbulent and difficult supply chain situation - we were able to maintain the absolute margin.”
> Bimal Gokhaldas, on the call for January to March 2026

### What management guided

- Capacity utilization expected to improve from FY26. - R&D spending to increase materially in coming quarters shifting from historical ₹2 crore run rate focused on process improvement. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/854/Conference Call/CC-May26.pdf). (From the call for January to March 2026, 19 May 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What is the future of DMCC Speciality Chemicals? What is changing in the business? What is changing at DMCC Speciality Chemicals, from the latest results and calls: boron production restoration, replacement export relationships and delayed specialty cost recovery. - Boron production restoration. Restored raw-material availability allows lost boron business to return, subject to end-customer demand. ⚠ estimate
- Replacement export relationships. Latin American commercial relationships have reportedly replaced most lost European business. ⚠ estimate
- Delayed specialty cost recovery. Quarterly contract repricing can recover specialty input costs after a timing lag. ⚠ estimate
- Specialty product commercialization. Early sales establish a product pipeline, but its earnings scale remains unknown. ✓ fact

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What could change the DMCC Speciality Chemicals story? What are the risks? Further earnings growth accompanied by continuing negative operating cash flow after management reports supply normalization would break the thesis that this is a recoverable supplier-financing disruption rather than growth dependent on permanent borrowing. ### Each change stops working if

- Boron production restoration: Boron supply interruptions recur or customers continue liquidating stock despite restored production. - Replacement export relationships: Replacement customers fail to reorder or their contribution margins do not cover the European business lost. - Delayed specialty cost recovery: Contract resets fail to recover costs or customer demand falls enough to offset recovered contribution. - Specialty product commercialization: Product acceptance remains unquantified through the disclosed commercialization window. ### The main risks

- : Supplier-credit withdrawal has turned accounting profit into borrowing-funded working capital. ⚠ estimate
- : Imported sulfur and Turkish boron remain physical supply dependencies. ⚠ estimate
- : Commodity inflation can raise reported sales while shrinking customer consumption. ⚠ estimate
- : Replacement exports face competition while additional domestic acid supply remains a threat. ⚠ estimate

(Our read after the April to June 2026 results, written 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in DMCC Speciality Chemicals' next results? When DMCC Speciality Chemicals reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Working capital as percentage of sales to remain at or below two months of sales metric - management stated current ratio healthy and should normalize once boron supply terms and sulfur prices stabilize; reduction from expanded current absolute rupee level signals supply chain normalization. - What to check (from the call)
- Working capital as percentage of sales to remain at or below two months of sales metric - management stated current ratio healthy and should normalize once boron supply terms and sulfur prices stabilize; reduction from expanded current absolute rupee level signals supply chain normalization. - Specialty boron products and enhanced oil recovery polymer to demonstrate meaningful commercial revenue progression in FY27 - management stated commercialization expected in FY27-FY28 window with early sales initiated; undefined scale means next quarter reveals whether truly progressing as expected. - Non-boric acid boron product demand recovery as natural gas supply improves - management attributed Q4 softness to gas crisis causing customer inventory liquidation in consuming centers; watch for demand normalization in April to June 2026 as gas situation resolves. - Roha plant capacity utilization to stabilize above 60% protection level in current quarter - management operated at 60% in March to preserve inventory but stated now at full capacity; verify whether Roha maintained full utilization or requires further protective throttling. ## Which stock lists is DMCC Speciality Chemicals on? DMCC Speciality Chemicals is on 2 of our India lists: Multibagger study list and Undervalued stocks. - [Multibagger study list Study stage: middle](https://www.sectoralpha.in/multibagger-stocks-india)
- [Undervalued stocks Profit growth x: 1.3447037701974862](https://www.sectoralpha.in/markets/in/deep-value-stocks)

## Is DMCC Speciality Chemicals profitable? DMCC Speciality Chemicals Ltd earned ₹3.2 Cr of net profit in the Sep 2026 quarter, −43.8% on the same quarter a year earlier. Full-year FY26 profit was ₹27.0 Cr. Over 9 years profit has grown 5.3% a year on average. That is 1.2% of the quarter's revenue. The same quarter a year earlier earned ₹5.8 Cr. For the full year, FY26 profit was ₹27.0 Cr (+22.7% on the year before). Why profit moved: revenue changed +116.5% on a year earlier and the margin moved −6.9 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +28.9% and revenue +71.3%. Profit is growing slower than sales: rising costs are taking part of the growth. FY26-Q4. Price pass-through lifts sales while procurement absorbs cash

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## How much revenue does DMCC Speciality Chemicals make, and is it growing? DMCC Speciality Chemicals Ltd reported ₹273 Cr of revenue in the Sep 2026 quarter, +116.5% on the same quarter a year earlier. That is the 9th quarter in a row with growth on the year before. Over 9 years it has grown 14.3% a year on average. The last full year, FY26, came in at ₹582 Cr. Why this happened. Management reports production restoration after the supplier transition. This addresses a physical bottleneck, but gas-constrained customers remain a separate demand bottleneck. Production, utilization and recovered sales are one dependent mechanism; they do not justify separate additive profit uplifts. The first financial contribution is not isolated in the reported segment data, and its persistence depends on supply continuity and customer consumption. The last four reported quarters add to ₹854 Cr. FY26 revenue was ₹582 Cr, +35.0% on the year before. Recent pace: the last four quarters grew +71.3% on average, against 14.3% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +72.1%, against +55.7% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +34.5%, against +68.1% a year (rolling over). FY26-Q4. Price pass-through lifts sales while procurement absorbs cash

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does DMCC Speciality Chemicals keep? DMCC Speciality Chemicals Ltd's operating margin was 4.2% in the Sep 2026 quarter, 6.9 percentage points lower than the same quarter a year ago. Across 10 years it has been between 9.0% and 24.0%. The latest quarter is below every full year in that period. Why this happened. The Input Cost Pass-Through Test distinguishes recovery of input costs from an increase in unit profitability. Management says specialty costs are incurred before contract prices reset. A later margin recovery is therefore plausible, but customers may reduce consumption and competitors may constrain realizations. Why the margin moved: operating margin changed −6.9 percentage points on the year while gross margin changed −16.4 points. So the drop came mostly from the gross margin, which means input costs and prices charged. FY26-Q4. Price pass-through lifts sales while procurement absorbs cash

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters. ## Is DMCC Speciality Chemicals' profit turning into cash? Over the last 3 years, 95% of DMCC Speciality Chemicals Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 its operations used ₹18.0 Cr of cash, against ₹27.0 Cr of profit. After ₹7.0 Cr of spending on assets, free cash was −₹25.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 95% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets. ## Where does DMCC Speciality Chemicals' cash go? DMCC Speciality Chemicals Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 83 days in FY26, down from 92 days in FY21. It spent ₹33.0 Cr on assets over the last 3 years. Customers take 60 days to pay, and stock sits for 82 days on average. At FY26 sales of ₹582 Cr, each day of that cycle ties up about ₹1.6 Cr, so roughly ₹132 Cr is tied up in the business at any time. FY26: customers took 60 days to pay and stock sat for 82 days, about 2.7 months of sales sitting as stock, for a full cycle of 83 days, shorter than FY21's 92. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 82 days. Customers pay about 60 days after that. Suppliers are paid at 60 days. Together that makes the 83-day cycle. Spending on assets: ₹33.0 Cr over the last 3 years, against ₹49.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is spending about what it takes to replace what wears out, or less. Work still in progress is ₹5.0 Cr (FY26): assets paid for that are not earning yet. In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean. ## What is DMCC Speciality Chemicals' P/E ratio, and how does it compare with its own history? DMCC Speciality Chemicals Ltd's P/E is 16.1×, near the low end of its own history: it has been lower only 21% of the time. Its usual P/E (the middle reading) is 28.4×, over 8.9 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +27.0% while the price moved −17.4%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved −6.0% a year; about +1.5% a year came from earnings growth and about −7.5 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the DMCC Speciality Chemicals share price assume? Worked out from its price on 11 October 2026, DMCC Speciality Chemicals Ltd's share price assumed profit growth of about 21.6% a year. Over the past 9 years its profit actually grew 5.3% a year. Today its P/E is 16.1×, lower than 79% of its own last 8.9 years. This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the DMCC Speciality Chemicals business getting better or worse? DMCC Speciality Chemicals Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 23.7%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## What is the DMCC Speciality Chemicals story, and has it been checked? DMCC Speciality Chemicals Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: TROUGH. Our read, 10 October 2026. DMCC has an earnings recovery to verify, but supplier financing and commodity price pass-through prevent treating the revenue surge as a proven specialty transformation. From the numbers. The operating engine…

From the price. Price stage 2, week 11, below its 200-day line, relative strength falling. From the research. DMCC has an earnings recovery to verify, but supplier financing and commodity price pass-through prevent treating the revenue surge as a proven specialty transformation. Where they disagree. What is proven. DMCC has an earnings recovery to verify, but supplier financing and commodity price pass-through prevent treating the revenue surge as a proven specialty transformation. What is not proven yet. Further earnings growth accompanied by continuing negative operating cash flow after management reports supply normalization would break the thesis that this is a recoverable supplier-financing disruption rather than growth dependent on permanent borrowing. What would change our mind. Further earnings growth accompanied by continuing negative operating cash flow after management reports supply normalization would break the thesis that this is a recoverable supplier-financing disruption rather than growth dependent on permanent borrowing. The test written in advance. Further earnings growth accompanied by continuing negative operating cash flow after management reports supply normalization would break the thesis that this is a recoverable supplier-financing disruption rather than growth dependent on permanent borrowing. Measured by: the thesis as written as stated by the next result. What the company does. Boron supply restoration and replacement export markets offer operating support, but higher realised prices also inflate revenue without necessarily increasing unit profit. The case requires repeat operating earnings and cash release; specialty commercialization remains an option whose scale is undisclosed. What the surface reading misses. The surface reading is: The newest result appears to establish a much higher earnings base. The research reads it further: Operating profit increased with revenue while the rounded year-earlier margin was unchanged. Lower tax supports reported profit, but interest costs increased. This is not demonstrated margin-led operating leverage. What the surface reading misses. The surface reading is: Higher sales and profit suggest an improving operating environment. The research reads it further: Operating profit grew less rapidly than revenue, consistent with input-cost pass-through inflating the sales denominator. Lever 10 · New geographies: building. Latin American commercial relationships have reportedly replaced most lost European business. What proves it keeps working: Replacement export relationships. It stops working if Replacement customers fail to reorder or their contribution margins do not cover the European business lost. Lever 12 · New product launch: building. Early sales establish a product pipeline, but its earnings scale remains unknown. What proves it keeps working: Specialty product commercialization. It stops working if Product acceptance remains unquantified through the disclosed commercialization window. Sources: our stock research file (10 October 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did DMCC Speciality Chemicals management deliver what it promised? What DMCC Speciality Chemicals Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Sulfuric Acid Market Outlook - Complete Reversal · 19 May 2026. In the May 2025 and Nov 2025 calls, management's flagged risk was downward pressure on sulfuric acid pricing from the new Kutch copper smelter coming online. By May 2026, the narrative has flipped entirely to sulfur being in severe shortage with prices at all-time highs and Roha having to slow down, while Kutch Copper is described as not operating at capacity. While the Middle East crisis is cited, the magnitude of this 180-degree shift in the commodity narrative materially impacts the thesis. Working Capital and Borrowings - Material Escalation vs Prior Deleveraging Narrative · 19 May 2026. In May 2025, management emphasized comfortable working capital and active debt repayment, and in Nov 2025 management characterized incremental working capital needs as a little bit higher to fund boron. In May 2026, short-term borrowings are described as expanding substantially, materially changing the balance sheet trajectory portfolio managers were modeling. Commodity Plant Utilization - Roha Slowdown Contradicts Prior 95-100% Claim · 19 May 2026. In Nov 2025, management explicitly stated the commodity (sulfuric acid) business was operating at 95-100% capacity. In May 2026, management disclosed Roha was deliberately slowed to 60% capacity due to inability to secure sulfur, an operational disruption that contradicts the prior characterization of full commodity utilization. Boron Business Recovery - New Demand-Side Issue Emerges After Prior Normalcy Guidance · 19 May 2026. In Nov 2025, management guided that boron operations would return to normal from H2 of Q3 FY26, with the issue framed purely as a supply-side distributor problem. In May 2026, while supply has normalized, management introduced a new demand-side weakness in non-boric acid products (ceramics, glass) tied to the gas crisis in Morbi, contradicting the clean recovery narrative previously presented. Every quote above is taken word for word from the company’s own earnings calls. ## What is DMCC Speciality Chemicals management's track record? Boron supply restoration and replacement Latin American sales show a response to disruption. Supplier-funded inventory changed to advance funding and short-term debt; the old term-debt promise cannot be graded from total debt. New-product scale remains unproved, not a concealed huge miss. No major capital spending obligations are stated in the annual report. ### Regulatory and governance record

The company-specific sweep surfaces no qualifying fraud, conduct order, live material case or proven lie; annual-report snippets are limited and do not certify all historical conduct. Sources:

- [dmcc.com](https://dmcc.com/media/pdf/DMCC-Annual-Report_2025-26.pdf)
- [dmcc.com](https://www.dmcc.com/media/pdf/DMCC_Annual-Report_2024-25.pdf)
- [economictimes.indiatimes.com](https://economictimes.indiatimes.com/dmcc-speciality-chemicals-ltd/directorsreport/companyid-13820.cms)

(Checked 14 October 2026.)

## How much does DMCC Speciality Chemicals earn on its capital? DMCC Speciality Chemicals Ltd earned a ROCE of 15% in FY26. That is up from a low of 7% in FY23. Its return on capital used (ROIC) is 1.5 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 4.6% net margin and 1.30× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 4.6% net margin × 1.30× asset turnover × 1.80× leverage (assets divided by equity) ≈ 10.8% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 13.5% − 12.0% = +1.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. The 13.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 10.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does DMCC Speciality Chemicals have too much debt? DMCC Speciality Chemicals Ltd has total debt of ₹87.0 Cr against shareholder equity of ₹248 Cr as of Jun 2026, so its debt is 0.35× its equity. Year by year, that ratio went from 0.48 in FY22 to 0.44 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the DMCC Speciality Chemicals shareholding pattern? No group of DMCC Speciality Chemicals Ltd's owners changed its stake by a full percentage point over the last two years. Promoters moved +0.0 points over the same period, to 53.8%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: +0.3 points over 8 quarters, to 0.5%; Promoters: +0.0 points over 8 quarters, to 53.8%; Domestic institutions: +0.0 points over 8 quarters, to 1.3%. ## How far is DMCC Speciality Chemicals from balance-sheet trouble? For DMCC Speciality Chemicals Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does DMCC Speciality Chemicals rank in its industry? 55.4 out of 100, rank 10 of 30 in Speciality Chemicals, with 93% of the evidence available. DMCC Speciality Chemicals Ltd scores 55.4 out of 100 against the 30 companies it is compared with in Speciality Chemicals, ranking 10. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 22.9 + 8.6 + 16.1 + 7.8 = 55.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is DMCC Speciality Chemicals compared with? DMCC Speciality Chemicals ranks 10 of 30 Speciality Chemicals companies on the 4-Factor Sector Score, with 55.4 out of 100. 1. [Panama Petrochem Ltd](https://www.sectoralpha.in/stocks/panama-petrochem-ltd) PANAMAPET · turning · Sector-leading setup · 96% evidence 82.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.8/35 · Revenue 45.9% · Profit 100% · Operating margin change 14 points · 88% evidence Capital efficiency 17.6/25 · ROCE 19.2% · Operating margin 22% · 100% evidence Valuation 19.7/20 · P/E 5.7× · PEG 0.18 · 100% evidence Relative strength 13.9/20 · Lead over its industry 16.3% · Lead over NIFTY 500 31.3% · 1 year 68.1% · 100% evidence · 10 of 12 weeks ahead Exact sum: 30.8 + 17.6 + 19.7 + 13.9 = 82 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Yasho Industries Ltd](https://www.sectoralpha.in/stocks/yasho-industries-ltd) YASHO · losing its lead · Most evidence points up · 78% evidence 67.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.0/35 · Revenue 54.2% · Profit 100% · Operating margin change 3 points · 100% evidence Capital efficiency 12.3/25 · ROCE 8.9% · Operating margin 21% · 100% evidence Valuation 12.7/20 · P/E 45× · PEG 1.02 · 65% evidence Relative strength 12.2/20 · Lead over its industry n/a · Lead over NIFTY 500 41.1% · 1 year 103.4% · 25% evidence · 11 of 12 weeks ahead Exact sum: 30 + 12.3 + 12.7 + 12.2 = 67.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Vikram Thermo (India) Ltd](https://www.sectoralpha.in/stocks/vikram-thermo-indialtd) breaking out · Evidence leans up · 68% evidence 64.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.8/35 · Revenue 16.9% · Profit 41.9% · Operating margin change 8 points · 83% evidence Capital efficiency 21.1/25 · ROCE 36.2% · Operating margin 48% · 95% evidence Valuation 6.6/20 · P/E 25.8× · PEG n/a · 50% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 74.5% · 1 year n/a · 25% evidence · 12 of 12 weeks ahead Exact sum: 23.8 + 21.1 + 6.6 + 12.5 = 64 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 4. [Sunshield Chemicals Ltd](https://www.sectoralpha.in/stocks/sunshield-chemicals-ltd) SUNSHIEL · quiet · Evidence leans up · 81% evidence 63.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.6/35 · Revenue 12.9% · Profit 100% · Operating margin change 5 points · 88% evidence Capital efficiency 18.6/25 · ROCE 19.9% · Operating margin 16% · 100% evidence Valuation 10.8/20 · P/E 24.3× · PEG 2.21 · 100% evidence Relative strength 10.8/20 · Lead over its industry n/a · Lead over NIFTY 500 4.3% · 1 year -4% · 25% evidence · 0 of 5 weeks ahead Exact sum: 23.6 + 18.6 + 10.8 + 10.8 = 63.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Black Rose Industries Ltd](https://www.sectoralpha.in/stocks/black-rose-industries-ltd) BLACKROSE · quiet · Evidence leans up · 81% evidence 60.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.6/35 · Revenue 8.6% · Profit 28.6% · Operating margin change 6 points · 88% evidence Capital efficiency 16.3/25 · ROCE 18.7% · Operating margin 16% · 100% evidence Valuation 10.0/20 · P/E 17.1× · PEG 4.96 · 100% evidence Relative strength 10.9/20 · Lead over its industry n/a · Lead over NIFTY 500 4.4% · 1 year n/a · 25% evidence · 7 of 12 weeks ahead Exact sum: 23.6 + 16.3 + 10 + 10.9 = 60.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Tatva Chintan Pharma Chem Ltd](https://www.sectoralpha.in/stocks/tatva-chintan-pharma-chem-ltd) TATVA · losing its lead · Evidence leans up · 93% evidence 59.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.7/35 · Revenue 49.2% · Profit 100% · Operating margin change 1 points · 100% evidence Capital efficiency 8.5/25 · ROCE 7.2% · Operating margin 19% · 100% evidence Valuation 11.3/20 · P/E 60.2× · PEG 1.21 · 65% evidence Relative strength 11.4/20 · Lead over its industry 7.8% · Lead over NIFTY 500 23.3% · 1 year 15.6% · 100% evidence · 10 of 12 weeks ahead Exact sum: 28.7 + 8.5 + 11.3 + 11.4 = 59.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Aether Industries Ltd](https://www.sectoralpha.in/stocks/aether-industries-ltd) AETHER · leader · Evidence leans up · 90% evidence 59.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.4/35 · Revenue 30.2% · Profit 28.4% · Operating margin change 1 points · 100% evidence Capital efficiency 12.7/25 · ROCE 11.9% · Operating margin 32% · 100% evidence Valuation 9.7/20 · P/E 85.1× · PEG n/a · 50% evidence Relative strength 14.8/20 · Lead over its industry 22.3% · Lead over NIFTY 500 38.6% · 1 year 114.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.4 + 12.7 + 9.7 + 14.8 = 59.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Privi Speciality Chemicals Ltd](https://www.sectoralpha.in/stocks/privi-speciality-chemicals-ltd) PRIVISCL · quiet · Evidence leans up · 82% evidence 59.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.7/35 · Revenue 17.5% · Profit 44.5% · Operating margin change -1 points · 95% evidence Capital efficiency 18.5/25 · ROCE 22.3% · Operating margin 26% · 76% evidence Valuation 10.1/20 · P/E 33.7× · PEG n/a · 50% evidence Relative strength 7.1/20 · Lead over its industry -9.7% · Lead over NIFTY 500 4.2% · 1 year 10.5% · 100% evidence · 2 of 12 weeks ahead Exact sum: 23.7 + 18.5 + 10.1 + 7.1 = 59.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Fineotex Chemical Ltd](https://www.sectoralpha.in/stocks/fineotex-chemical-ltd) FCL · leader · Evidence leans up · 96% evidence 59.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.3/35 · Revenue 91.5% · Profit 41% · Operating margin change -2 points · 88% evidence Capital efficiency 13.6/25 · ROCE 18.3% · Operating margin 16% · 100% evidence Valuation 5.7/20 · P/E 46.1× · PEG 1.92 · 100% evidence Relative strength 19.5/20 · Lead over its industry 34.1% · Lead over NIFTY 500 48.9% · 1 year 62.9% · 100% evidence · 12 of 12 weeks ahead Exact sum: 20.3 + 13.6 + 5.7 + 19.5 = 59.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. DMCC Speciality Chemicals Ltd this page DMCC · quiet · Evidence leans up · 93% evidence 55.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 72.1% · Profit 34.5% · Operating margin change -6.9 points · 100% evidence Capital efficiency 8.6/25 · ROCE 14.8% · Operating margin 4.2% · 100% evidence Valuation 16.1/20 · P/E 16.9× · PEG 0.44 · 65% evidence Relative strength 7.8/20 · Lead over its industry -12.3% · Lead over NIFTY 500 0.9% · 1 year -15.5% · 100% evidence · 9 of 12 weeks ahead Exact sum: 22.9 + 8.6 + 16.1 + 7.8 = 55.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Aarti Industries Ltd](https://www.sectoralpha.in/stocks/aarti-industries-ltd) AARTIIND · quiet · Evidence leans up · 100% evidence 55.1 out of 100 Growth Capital Valuation Relative
12. [Galaxy Surfactants Ltd](https://www.sectoralpha.in/stocks/galaxy-surfactants-ltd) GALAXYSURF · leader · Evidence leans up · 81% evidence 53.7 out of 100 Growth Capital Valuation Relative
13. [Pidilite Industries Ltd](https://www.sectoralpha.in/stocks/pidilite-industries-ltd) PIDILITIND · quiet · Evidence leans up · 100% evidence 52.8 out of 100 Growth Capital Valuation Relative
14. [DIC India Ltd](https://www.sectoralpha.in/stocks/dic-india-ltd) DICIND · breaking out · Evidence leans up · 81% evidence 52.8 out of 100 Growth Capital Valuation Relative
15. [Neogen Chemicals Ltd](https://www.sectoralpha.in/stocks/neogen-chemicals-ltd) NEOGEN · leader · Evidence leans up · 90% evidence 51.7 out of 100 Growth Capital Valuation Relative
16. [Kronox Lab Sciences Ltd](https://www.sectoralpha.in/stocks/kronox-lab-sciences-ltd) KRONOX · breaking out · Evidence leans up · 74% evidence 51.6 out of 100 Growth Capital Valuation Relative
17. [Chemcon Speciality Chemicals Ltd](https://www.sectoralpha.in/stocks/chemcon-speciality-chemicals-ltd) CHEMCON · breaking out · Evidence leans up · 85% evidence 50.9 out of 100 Growth Capital Valuation Relative
18. [Grauer & Weil (India) Ltd](https://www.sectoralpha.in/stocks/grauer-weil-indialtd) GRAUWEIL · breaking out · Evidence leans down · 96% evidence 46.3 out of 100 Growth Capital Valuation Relative
19. [Paushak Ltd](https://www.sectoralpha.in/stocks/paushak-ltd) PAUSHAKLTD · losing its lead · Evidence leans down · 85% evidence 45.6 out of 100 Growth Capital Valuation Relative
20. [Alkyl Amines Chemicals Ltd](https://www.sectoralpha.in/stocks/alkyl-amines-chemicals-ltd) ALKYLAMINE · quiet · Evidence leans down · 96% evidence 45.5 out of 100 Growth Capital Valuation Relative
21. [Platinum Industries Ltd](https://www.sectoralpha.in/stocks/platinum-industries-ltd) PLATIND · turning · Evidence leans down · 81% evidence 45.5 out of 100 Growth Capital Valuation Relative
22. [Innovassynth Technologies (India) Ltd](https://www.sectoralpha.in/stocks/innovassynth-technologies-indialtd) breaking out · Too little evidence to rank firmly · 53% evidence 44.0 out of 100 Growth Capital Valuation Relative
23. [Anupam Rasayan India Ltd](https://www.sectoralpha.in/stocks/anupam-rasayan-india-ltd) ANURAS · turning · Evidence leans down · 78% evidence 43.7 out of 100 Growth Capital Valuation Relative
24. [Vinati Organics Ltd](https://www.sectoralpha.in/stocks/vinati-organics-ltd) VINATIORGA · quiet · Evidence leans down · 82% evidence 42.4 out of 100 Growth Capital Valuation Relative
25. [Amines & Plasticizers Ltd](https://www.sectoralpha.in/stocks/amines-plasticizers-ltd) AMNPLST · quiet · Evidence leans down · 81% evidence 42.3 out of 100 Growth Capital Valuation Relative
26. [Amal Ltd](https://www.sectoralpha.in/stocks/amal-ltd) AMAL · quiet · Evidence leans down · 68% evidence 41.3 out of 100 Growth Capital Valuation Relative
27. [Transpek Industry Ltd](https://www.sectoralpha.in/stocks/transpek-industry-ltd) TRANSPEK · losing its lead · Evidence leans down · 63% evidence 38.6 out of 100 Growth Capital Valuation Relative
28. [Vishnu Chemicals Ltd](https://www.sectoralpha.in/stocks/vishnu-chemicals-ltd) VISHNU · losing its lead · Evidence leans down · 100% evidence 38.2 out of 100 Growth Capital Valuation Relative
29. [Clean Science & Technology Ltd](https://www.sectoralpha.in/stocks/clean-science-technology-ltd) CLEAN · breaking out · Evidence leans down · 85% evidence 38.1 out of 100 Growth Capital Valuation Relative
30. [Thirumalai Chemicals Ltd](https://www.sectoralpha.in/stocks/thirumalai-chemicals-ltd) TIRUMALCHM · quiet · Most evidence points down · 68% evidence 27.4 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Speciality Chemicals](https://www.sectoralpha.in/sectors/speciality-chemicals), all 30 compared on one page. ## Which companies are close to DMCC Speciality Chemicals in size? DMCC Speciality Chemicals is the 28th largest of 30 Speciality Chemicals companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Kronox Lab Sciences, Transpek Industry, Chemcon Speciality Chemicals and Amal. Just below it: Black Rose Industries and DIC India. ### Speciality Chemicals companies close in size

1. [Kronox Lab Sciences Ltd](https://www.sectoralpha.in/stocks/kronox-lab-sciences-ltd) ₹691 crore
2. [Transpek Industry Ltd](https://www.sectoralpha.in/stocks/transpek-industry-ltd) ₹682 crore
3. [Chemcon Speciality Chemicals Ltd](https://www.sectoralpha.in/stocks/chemcon-speciality-chemicals-ltd) ₹666 crore
4. [Amal Ltd](https://www.sectoralpha.in/stocks/amal-ltd) ₹658 crore
5. DMCC Speciality Chemicals Ltd ₹634 crore
6. [Black Rose Industries Ltd](https://www.sectoralpha.in/stocks/black-rose-industries-ltd) ₹491 crore
7. [DIC India Ltd](https://www.sectoralpha.in/stocks/dic-india-ltd) ₹474 crore

[All 30 Speciality Chemicals companies, largest first](https://www.sectoralpha.in/sectors/speciality-chemicals#all-companies)

### Companies close in size in other industries

1. [Jayant Agro Organics Ltd](https://www.sectoralpha.in/stocks/jayant-agro-organics-ltd) ₹635 crore · Edible Oils, Agro Processing
2. [Rajapalayam Mills Ltd](https://www.sectoralpha.in/stocks/rajapalayam-mills-ltd) ₹635 crore · Textiles - Spinning
3. DMCC Speciality Chemicals Ltd ₹634 crore
4. [Ganesh Benzoplast Ltd](https://www.sectoralpha.in/stocks/ganesh-benzoplast-ltd) ₹634 crore · Chemicals - Inorganic
5. [Cheviot Company Ltd](https://www.sectoralpha.in/stocks/cheviot-company-ltd) ₹628 crore · Textiles - Jute/Jute Products

## What else do people ask about DMCC Speciality Chemicals? ### What is DMCC Speciality Chemicals's share price today? DMCC Speciality Chemicals Ltd's share price is ₹241.50, −17.4% over the past year. The whole company is worth ₹603 Cr on the market. In the last 52 weeks it traded between ₹207 to ₹333; today it is 28% of the way up from the low, 13.8% below its 200-day average (as of 4 November 2026). ### What were DMCC Speciality Chemicals's latest quarterly results? DMCC Speciality Chemicals Ltd reported revenue of ₹273 Cr and net profit of ₹3.2 Cr for the Sep 2026 quarter. Revenue rose 116.5% and profit fell 43.8% compared with a year earlier. Earnings per share were ₹1.30. The operating margin was 4.2%, 6.9 percentage points lower than a year earlier (as of 4 November 2026). ### What is DMCC Speciality Chemicals's market cap? DMCC Speciality Chemicals Ltd's market capitalisation is ₹603 Cr at a share price of ₹241.50. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is DMCC Speciality Chemicals performing? DMCC Speciality Chemicals Ltd's share price has been rising for 11 weeks. In its latest quarter, revenue rose 116.5% and profit fell 43.8% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 2 weeks running (as of 4 November 2026). ### Will DMCC Speciality Chemicals's share price go up? This page does not forecast DMCC Speciality Chemicals Ltd's share price. What it shows instead: the share price is ₹241.50, and it has been rising for 11 weeks. Its P/E of 16.1× is higher than 21% of its own last 9 years (as of 4 November 2026). ### Who owns DMCC Speciality Chemicals? Promoters own 53.8% of DMCC Speciality Chemicals Ltd, foreign institutions 0.5%, domestic institutions 1.3% and the public 44.4% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 4 November 2026). ### Where is DMCC Speciality Chemicals in its business cycle? DMCC Speciality Chemicals Ltd's FY26 operating margin was 11.0%, against a 10-year range of 9.0% to 24.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 4.2%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the DMCC Speciality Chemicals story? The main question: yearly earnings per share moved +27.0% while the share price moved −17.4%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is DMCC Speciality Chemicals a stock worth studying right now? What the numbers show: DMCC Speciality Chemicals Ltd's P/E is near the low end of its own history, higher than only 21% of past readings, and its quarterly results are still getting worse. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a DMCC Speciality Chemicals share price forecast for 2026? What management itself guided: Specialty chemicals commercialization expected FY27-FY28 - boron specialty products and enhanced oil recovery polymer moving to commercial stage with limited early sales already initiated; scale and margin profile unknown. What is changing at DMCC Speciality Chemicals, from the latest results and calls: boron production restoration, replacement export relationships and delayed specialty cost recovery. What would change the story: Further earnings growth accompanied by continuing negative operating cash flow after management reports supply normalization would break the thesis that this is a recoverable supplier-financing disruption rather than growth dependent on permanent borrowing. ### Where does this page get DMCC Speciality Chemicals' management information? From DMCC Speciality Chemicals' results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Multibagger study list: https://www.sectoralpha.in/multibagger-stocks-india
- Undervalued stocks: https://www.sectoralpha.in/markets/in/deep-value-stocks

This is research, not advice. We’re not SEBI-registered.