Indokem Ltd
INDOKEMIndokem Ltd's price has outrun its earnings. +15.4% in a year against EPS −41.2% — the market is paying now for delivery later.
The sharpest disagreement: profits are rising, but only −67% 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 confirmed uptrend (4 weeks in) while the P/E sits at the 76th percentile of its own 1-year range. Underneath, the last four quarters read improving — profit +52.9% year on year, and −67% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
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.
Indokem Ltd trades at ₹611, in a confirmed uptrend and 4 weeks into that stage. That is +8.5% against its own 200-day average. It sits at 61% of a 52-week range of ₹191 to ₹878. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.
Today the stock is in a confirmed uptrend — week 4 of stage 2, confirmed. At ₹611 it trades +8.5% versus its 200-day average and sits at 61% of its 52-week range (₹191–₹878).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +13,755% while the NIFTY 500 moved +256% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 straight weeks — 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.
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.
Indokem Ltd trades at 764.0× P/E, at the pricey end of its own range (76th percentile). Its long-run median P/E is 412.1×, measured across 0.8 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 764.0× is at the pricey end of its own range (76th percentile), against a long-run median of 412.1× measured over 0.8 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved −41.2% against a +15.4% price move — the price outran earnings, pushing the multiple UP its own range.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
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).
Indokem 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.
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.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | −5.1% | +1.6% | — | — |
| Profit | −33.3% | — | — | — |
| EPS | −41.2% | — | — | — |
| Share price | +15.4% | +85.1% | +78.7% | +54.6% |
4-Factor Sector Score
30.9/100 — rank 10 of 10 in Dyes & Pigments · 74% evidence confidence
Indokem Ltd scores 30.9 out of 100 against the 10 companies it is compared with in Dyes & Pigments, ranking 10. Price leads the evidence: RS versus the benchmark is 0.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
The four contributions add to the total exactly: 6.8 + 2.5 + 8.5 + 13.1 = 30.9. 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.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Indokem Ltd reported ₹46.6 Cr of revenue in the Jun 26 quarter, +12.2% year on year. Over 20 years it has compounded at 4.7% a year. The last full year, FY26, came in at ₹169 Cr. The last four reported quarters add to ₹174 Cr.
FY26 revenue came in at ₹169 Cr (−5.1% on the year), capping 20 years at 4.7% compound. The latest quarter (Jun 26) printed ₹46.6 Cr, +12.2% year on year.
Pace check: the last four quarters averaged −3.6% growth against the decade's 4.7% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew −4.5% over the last 4 quarters against +5.2%/yr over the last 8 — rolling over.
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.
Indokem Ltd's operating margin is 4.8% in the Jun 26 quarter, +0.5 percentage points against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged −41.0% to 10.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 4.8%, +0.5 pp against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged −41.0%–10.0%.
Why the margin moved: operating margin went +0.5 pp year on year while gross margin went +1.1 pp — the gain came mostly from the gross line: input costs and pricing.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Indokem Ltd earned ₹1.1 Cr of net profit in the Jun 26 quarter, +52.9% year on year. Full-year FY26 profit was ₹2.0 Cr. The 20-year compound rate is 3.5%. That is 2.3% of the quarter's revenue. The same quarter a year earlier earned ₹0.7 Cr. 5 of the last 12 reported quarters were loss-making.
Jun 26 profit was ₹1.1 Cr, +52.9% year on year. On the full year, FY26 printed ₹2.0 Cr (−33.3%), and the 20-year compound rate is 3.5%.
Why profit moved: revenue contributed +12.2% and the margin +0.5 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit −27.8% vs revenue −3.6%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
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 −67% of Indokem Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−4.0 Cr of operating cash against ₹2.0 Cr of profit. After ₹−4.0 Cr of capital spending, ₹0.0 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.
FY26: operating cash of ₹−4.0 Cr against reported profit of ₹2.0 Cr, leaving free cash of ₹0.0 Cr after ₹−4.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −67% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −67%: the cash cycle stretched 31 days between FY10 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 31 days — the next section's job is to find where the cash is stuck.
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).
Indokem Ltd's cash conversion cycle runs 79 days in FY26, up from 48 days in FY10. Capital spending ran ₹4.0 Cr over the last 3 years. At FY26 sales of ₹169 Cr each day of that cycle holds about ₹0.5 Cr, so roughly ₹37.0 Cr sits inside the business at any moment.
FY26: debtors at 92 days, inventory at 115 days — roughly 3.8 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 79 days, looser than FY10's 48.
The full loop: cash goes out to suppliers and production on day 0; stock waits 115 days to sell; customers pay about 92 days after that; and suppliers themselves are paid at 129 days — netting out to the 79-day cycle.
In money terms: at FY26 sales of ₹169 Cr, each day of the cycle holds about ₹0.5 Cr — so the 79-day loop keeps roughly ₹37.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹4.0 Cr over the last 3 fiscal years against ₹7.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
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.
Indokem Ltd earns a ROCE of 5% in FY26. That is up from a trough of −22% in FY11. Return on invested capital clears the cost of that capital by −9.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 1.2% net margin on 1.17× asset turns.
FY26 ROCE is 5%, recovered from a FY11 trough of −22% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 1.2% net margin × 1.17× asset turns × 2.23× balance-sheet leverage ≈ 3.1% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 3.0% − 12.0% = a −9.0 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. Negative — growth at these returns destroys value until the returns recover.
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.
Indokem Ltd carries ₹27.0 Cr of borrowings against ₹65.0 Cr of equity in FY26, a debt-to-equity of 0.42. Operating profit covers the interest bill 2×. Over 16 years borrowings went from ₹32.0 Cr to ₹27.0 Cr. Capital spending ran ₹4.0 Cr across the last 3 of those years.
FY26: borrowings of ₹27.0 Cr against equity of ₹65.0 Cr — a debt-to-equity of 0.42. Operating profit covers the interest bill 2×. Over 16 years borrowings went from ₹32.0 Cr to ₹27.0 Cr while capital spending ran ₹4.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.
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.
No holder of Indokem Ltd moved a full percentage point over the last two years — the register is quiet. Domestic institutions moved +0.0 points over the same window, to 0.2%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: +0.0 points over 8 quarters to 68.7%; Domestic institutions: +0.0 points over 8 quarters to 0.2%.
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.
Indokem 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.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Bhageria Industries LtdBHAGERIA | 71.2/100Favorable setup87% evidence | LEADER | 30.2/35 Revenue 57% · PAT 55.8% · OPM change 4 pp 95% evidence | 14.4/25 ROCE 9.4% · OPM 15% 95% evidence | 9.0/20 P/E 20.1× · PEG — 50% evidence | 17.6/20 RS sector 26.3% · RS bench 70.5% · 1Y 59.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 30.2 + 14.4 + 9 + 17.6 = 71.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Ultramarine & Pigments LtdULTRAMAR | 66.2/100Favorable setup81% evidence | TURNING | 23.0/35 Revenue 15.6% · PAT 16.5% · OPM change 2 pp 95% evidence | 17.3/25 ROCE 10.8% · OPM 19% 95% evidence | 13.3/20 P/E 13.9× · PEG — 50% evidence | 12.6/20 RS sector 9.3% · RS bench 3.6% · 1Y -8.5%2 of 9 weeks ahead 70% evidence |
| Exact sum: 23 + 17.3 + 13.3 + 12.6 = 66.2 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3Atul LtdATUL | 62.3/100Mixed-positive evidence100% evidence | ASLEEP | 27.4/35 Revenue 15.8% · PAT 56.3% · OPM change 5 pp 100% evidence | 18.0/25 ROCE 14.9% · OPM 21% 100% evidence | 15.1/20 P/E 23.1× · PEG 0.69 100% evidence | 1.8/20 RS sector -27.2% · RS bench -0.4% · 1Y -0.9%0 of 12 weeks ahead 100% evidence |
| Exact sum: 27.4 + 18 + 15.1 + 1.8 = 62.3 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -27.2% and the one-year return is -0.9%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 4Bodal Chemicals LtdBODALCHEM | 58.8/100Mixed-positive evidence80% evidence | TURNING | 21.2/35 Revenue 27.6% · PAT 100% · OPM change 0 pp 95% evidence | 8.3/25 ROCE 5.6% · OPM 10% 95% evidence | 9.3/20 P/E 31.6× · PEG — 15% evidence | 20.0/20 RS sector 101.8% · RS bench 169.2% · 1Y 164.7%4 of 12 weeks ahead 100% evidence |
| Exact sum: 21.2 + 8.3 + 9.3 + 20 = 58.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Vidhi Specialty Food Ingredients LtdVIDHIING | 52.0/100Mixed-positive evidence81% evidence | BREAKING OUT | 14.7/35 Revenue 12.9% · PAT 10.4% · OPM change -5 pp 95% evidence | 17.8/25 ROCE 18.8% · OPM 18% 95% evidence | 10.7/20 P/E 31.4× · PEG — 50% evidence | 8.8/20 RS sector -9.9% · RS bench 5.3% · 1Y -13.3%5 of 10 weeks ahead 70% evidence |
| Exact sum: 14.7 + 17.8 + 10.7 + 8.8 = 52 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Kiri Industries LtdKIRIINDUS | 48.5/100Mixed-negative evidence75% evidence | BREAKING OUT | 22.4/35 Revenue 25% · PAT 100% · OPM change 13 pp 95% evidence | 5.3/25 ROCE -1.7% · OPM 5% 76% evidence | 11.5/20 P/E 4.4× · PEG — 15% evidence | 9.3/20 RS sector -15.7% · RS bench 15.1% · 1Y 2.7%4 of 12 weeks ahead 100% evidence |
| Exact sum: 22.4 + 5.3 + 11.5 + 9.3 = 48.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Sudarshan Chemical Industries LtdSUDARSCHEM | 43.4/100Mixed-negative evidence94% evidence | BREAKING OUT | 19.8/35 Revenue 90.2% · PAT 2.3% · OPM change 2 pp 100% evidence | 7.8/25 ROCE 5.5% · OPM 10% 100% evidence | 6.9/20 P/E 97.8× · PEG 1.42 100% evidence | 8.9/20 RS sector -13.2% · RS bench 25.7% · 1Y -12.4%10 of 10 weeks ahead 70% evidence |
| Exact sum: 19.8 + 7.8 + 6.9 + 8.9 = 43.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Sudarshan Colorants India LtdSUDARCOLOR | 37.0/100Mixed-negative evidence87% evidence | BREAKING OUT | 6.8/35 Revenue -8.1% · PAT -25.4% · OPM change 0 pp 95% evidence | 14.5/25 ROCE 11.4% · OPM 12% 95% evidence | 14.1/20 P/E 16.9× · PEG — 50% evidence | 1.6/20 RS sector -30.7% · RS bench -5.6% · 1Y -36.3%6 of 12 weeks ahead 100% evidence |
| Exact sum: 6.8 + 14.5 + 14.1 + 1.6 = 37 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 9Sadhana Nitro Chem LtdSADHNANIQ | 31.4/100Adverse evidence69% evidence | BREAKING OUT | 9.2/35 Revenue -69% · PAT -80% · OPM change 1.6 pp 71% evidence | 3.5/25 ROCE -11.1% · OPM 8.5% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 8.7/20 RS sector -3.7% · RS bench 29.7% · 1Y 5.9%12 of 12 weeks ahead 100% evidence |
| Exact sum: 9.2 + 3.5 + 10 + 8.7 = 31.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Indokem Ltdthis pageINDOKEM | 30.9/100Adverse evidence74% evidence | 6.8/35 Revenue -4.5% · PAT -57.5% · OPM change 0.5 pp 95% evidence | 2.5/25 ROCE 5.5% · OPM 4.8% 95% evidence | 8.5/20 P/E 764× · PEG — 15% evidence | 13.1/20 RS sector 27.1% · RS bench 0.7% · 1Y 27.4%6 of 12 weeks ahead 70% evidence | |
| Exact sum: 6.8 + 2.5 + 8.5 + 13.1 = 30.9 · Decision use: Price leads the evidence: RS versus the benchmark is 0.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. 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 curve the sector itself 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 widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Indokem Ltd's share price today?
Indokem Ltd trades at ₹611, +15.4% over the past year. The company is valued at ₹1,712 Cr. The stock sits at 61% of its 52-week range of ₹191–₹878, +8.5% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 4 weeks in. — as of 11 September 2026.
What were Indokem Ltd's latest quarterly results?
Indokem Ltd reported revenue of ₹46.6 Cr and net profit of ₹1.1 Cr for the Jun 26 quarter. Revenue rose 12.2% and profit rose 52.9% year on year. Earnings per share were ₹0.38. The operating margin was 4.8%, 0.5 pp higher than a year earlier. — as of 11 September 2026.
What is Indokem Ltd's revenue?
Indokem Ltd reported revenue of ₹46.6 Cr in the Jun 26 quarter, +12.2% year on year. For the full FY26 fiscal year, revenue was ₹169 Cr (−5.1%). Over the last 20 years revenue compounded at 4.7% a year. — as of 11 September 2026.
What is Indokem Ltd's profit?
Indokem Ltd earned ₹1.1 Cr of net profit in the Jun 26 quarter, +52.9% year on year. Full-year FY26 profit was ₹2.0 Cr. The operating margin ran 4.8% in the latest quarter. — as of 11 September 2026.
What is Indokem Ltd's market cap?
Indokem Ltd's market capitalisation is ₹1,712 Cr at a share price of ₹611. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Indokem Ltd's P/E ratio?
Indokem Ltd trades at a P/E of 764.0×, at the 76th percentile of its own 1-year range, against a long-run median of 412.1×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Indokem Ltd pay a dividend?
No — Indokem Ltd has recorded a dividend payout of 0% of profit in each of its last 10 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 11 September 2026.
Is Indokem Ltd overvalued?
On its own history, Indokem Ltd looks expensive: its P/E of 764.0× sits at the 76th percentile of its 1-year range (long-run median 412.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Indokem Ltd growing?
Yes — Indokem Ltd is growing: latest-quarter revenue +12.2% year on year, profit +52.9%, and the margin +0.5 pp at 4.8%. The 20-year compound rates are 4.7% (revenue) and 3.5% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Indokem Ltd performing?
Indokem Ltd is in a confirmed uptrend, 4 weeks in. Its latest quarter's revenue rose 12.2% and profit rose 52.9% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
Is Indokem Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 4 of stage 2), trading +8.5% versus its 200-day average and at 61% 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 11 September 2026.
Is Indokem Ltd beating the market?
On recent form, yes — Indokem Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +13,755% against the NIFTY 500's +256% — ahead of the index over the full window. — as of 11 September 2026.
Will Indokem Ltd's share price go up?
This page publishes no price forecast for Indokem Ltd. What it measures instead: the share price is ₹611, the price is in a confirmed uptrend 4 weeks in. Its P/E of 764.0× sits at the 76th percentile of its own 1-year range. — as of 11 September 2026.
Who owns Indokem Ltd?
Promoters hold 68.7% of Indokem Ltd, foreign institutions null%, domestic institutions 0.2% and the public 31.1% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 11 September 2026.
Does Indokem Ltd have too much debt?
It is moderate — Indokem Ltd's debt-to-equity is 0.42, and operating profit covers the interest bill 2×. FY26 borrowings were ₹27.0 Cr against equity of ₹65.0 Cr. Read the returns on this page with that leverage in mind — as of 11 September 2026.
What is Indokem Ltd's capex?
Indokem Ltd spent ₹4.0 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 ₹−4.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Indokem Ltd's cash flow?
Indokem Ltd consumed ₹4.0 Cr of operating cash in FY26 — cash flowed out rather than in (free cash flow: ₹0.0 Cr). Operating cash was negative while the company reported a profit of ₹2.0 Cr. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Indokem Ltd's profit real cash?
No — operating cash was negative over the last 3 fiscal years: Indokem Ltd consumed cash while reporting profit. In FY26, operating cash was ₹−4.0 Cr against reported profit of ₹2.0 Cr. Cash-flow resolution is annual — as of 11 September 2026.
Where is Indokem Ltd in its business cycle?
Indokem Ltd's FY26 operating margin was 2.8%, against a 10-year band of −41.0%–10.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 4.8%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What could break the Indokem Ltd story?
The sharpest disagreement: profits are rising, but only −67% 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 11 September 2026.
Is Indokem Ltd a stock worth studying right now?
This is not investment advice. The machine read: Indokem Ltd's price has outrun its earnings. +15.4% in a year against EPS −41.2% — the market is paying now for delivery later. 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 11 September 2026.
Not SEBI Registered !! Not Investment advice !!