Sector Alpha Week of 2026-07-31
Sector Alpha — machine-written from the numbers · Data as of 2026-07-31

Laxmi Organic Industries Ltd

LXCHEM
Chemicals - Organic

Laxmi Organic Industries Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.

Biggest watch item: the price is not yet in a confirmed uptrend — timing risk, not thesis risk.

The price is in a downtrend (38 weeks in) while the P/E sits at the 24th percentile of its own 5-year range. Underneath, the last four quarters read improving — profit +223.8% year on year, and 269% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.

Stage
Mixed
fundamental trajectory, 12 quarters
Price
₹178
−8.8% 1Y
P/E
39.4×
24th pctile
of its own 5-year range
Revenue (Jun 26)
₹968 Cr
+39.7% YoY
Profit (Jun 26)
₹68.0 Cr
+223.8% YoY
Operating margin
12.0%
+7.6 pp YoY
ROCE
5%
FY26
ROIC
6.0%
vs WACC 12.0% → −6.0 pp
Cash conversion
269%
of profit, last 3 FY
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.

Laxmi Organic Industries Ltd trades at ₹178, in a downtrend and 38 weeks into that stage. That is +9.4% against its own 200-day average. It sits at 61% of a 52-week range of ₹112 to ₹221. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks.

Today the stock is in a downtrend — week 38 of stage 4. At ₹178 it trades +9.4% versus its 200-day average and sits at 61% of its 52-week range (₹112–₹221).

Jul 26: ₹178 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+9.4% versus the 200-day line, week 38 of stage 4
Price50-day avg200-day avg
S4S4S2S4S4₹326₹269₹211₹154₹96.4₹178₹163Jul 23May 24Feb 25Nov 25Jul 26
S4S4S2S4S4₹326₹269₹211₹154₹96.4₹178₹163Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2021 Each cell is one week from 2021 to now (283 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 21Jul 26

Against the market, two honest reads. Cumulative: over the last 5.3 years the stock moved −4% while the NIFTY 500 moved +91% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 3 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.

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.

Laxmi Organic Industries Ltd trades at 39.4× P/E, near the bottom of its own range — cheaper only 24% of the time. Its long-run median P/E is 53.1×, measured across 5.3 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 39.4× is near the bottom of its own range — cheaper only 24% of the time, against a long-run median of 53.1× measured over 5.3 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 39.4× vs a 53.1× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 5.3-year window; loss-period spikes above 107× 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)
114.5×₹11.988.1×₹8.961.8×₹6.035.4×₹3.09.0×₹0.0×39.40×₹5Mar 21Jul 22Dec 23Apr 25Jul 26
114.5×₹11.988.1×₹8.961.8×₹6.035.4×₹3.09.0×₹0.0×39.40×₹5Mar 21Dec 23Jul 26
PEG 1.25 PEG ratio per quarter — the P/E divided by the earnings-growth rate. The dashed line marks 1.0: below it the growth is cheap against the multiple, above it the price already prices the growth in. Last 18 quarters.
above 1.0, the multiple already banks the growth
PEGPEG = 1.0
2.4×2.0×1.5×1.1×0.7××1.25×Q3 FY22Q3 FY23Q3 FY24Q3 FY25Q4 FY26
2.4×2.0×1.5×1.1×0.7××1.25×Q3 FY22Q3 FY24Q4 FY26
P/E
39.4×
24th percentile of 5y
PEG
n/m
not derivable — 3-year earnings growth unavailable

Why the multiple sits where it does: over the past year annual EPS moved −30.2% against a −8.8% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the −7.4%/yr price move, ~−1.2%/yr came from earnings growth and ~−6.2 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

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

03 · Stage: Mixed

Stage: Mixed 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).

Laxmi Organic Industries Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE holding at 4.9% — the per-curve reads carry the story. The read is built from 12 quarters across 4 curves, on full evidence.

Growth, year by year: revenue −4.6% in FY26, profit −30.7% 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
81%189%57%117%33%44%8.3%−28%−16%−101%%%−4.6%−30.7%FY16FY21FY26
81%189%57%117%33%44%8.3%−28%−16%−101%%%−4.6%−30.7%FY16FY21FY26
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. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue stabilising, profit accelerating
RevenueProfitEPS
11%42%4.8%16%−1.4%−9.4%−7.7%−35%−14%−61%%%5.5%26%24.7%Sep 23Dec 24Jun 26
11%42%4.8%16%−1.4%−9.4%−7.7%−35%−14%−61%%%5.5%26%24.7%Sep 23Dec 24Jun 26
ROCE Trailing-twelve-month operating profit (before interest and tax) as a share of average capital employed — total assets minus current liabilities, the standard textbook basis, %.
the return curve, computed quarterly
ROCE
13%11%8.6%6.3%4.0%%4.9%Sep 23Mar 24Dec 24Sep 25Jun 26
13%11%8.6%6.3%4.0%%4.9%Sep 23Dec 24Jun 26
Revenue growth
Flat
latest +5.5% · span −12.2% to +9.3%
Profit growth
Flat
latest +26.0% · span −53.3% to +35.0%
EPS growth
Flat
latest +24.7% · span −53.9% to +31.5%
ROCE
Stuck low
latest 4.9% · span 4.6%–12.7%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

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−4.6%+0.6%+10.0%+10.5%
Profit−30.7%−14.2%−9.1%+11.3%
EPS−30.2%−15.3%−9.9%−20.0%
Share price−8.8%−12.2%−7.4%
Revenue YoY (Jun 26)
+39.7%
latest quarter vs a year ago
Profit YoY (Jun 26)
+223.8%
latest quarter vs a year ago
Revenue 10y
10.5%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

48.2/100 — rank 8 of 20 in Chemicals - Organic · 94% evidence confidence

Laxmi Organic Industries Ltd scores 48.2 out of 100 against the 20 companies it is compared with in Chemicals - Organic, ranking 8. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 20.8 + 8.2 + 11.8 + 7.4 = 48.2. 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.

Laxmi Organic Industries Ltd reported ₹968 Cr of revenue in the Jun 26 quarter, +39.7% year on year. That is the 2nd straight quarter of year-on-year growth. Over 10 years it has compounded at 10.5% a year. The last full year, FY26, came in at ₹2,847 Cr. The last four reported quarters add to ₹3,122 Cr.

FY26 revenue came in at ₹2,847 Cr (−4.6% on the year), capping 10 years at 10.5% compound. The latest quarter (Jun 26) printed ₹968 Cr, +39.7% year on year — the 2nd consecutive quarter of year-over-year growth.

FY26 revenue ₹2,847 Cr (−4.6% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
10.5% a year over 10 years
RevenueYoY growth
3.3k81%2.5k57%1.7k33%8338.3%0−16%₹ Cr%₹2,847−4.6%FY16FY21FY26
3.3k81%2.5k57%1.7k33%8338.3%0−16%₹ Cr%₹2,847−4.6%FY16FY21FY26
Jun 26: ₹968 Cr (+39.7% 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
1.0k44%78429%52315%2610.0%0−14%₹ Cr%₹96839.7%Sep 23Dec 24Jun 26
1.0k44%78429%52315%2610.0%0−14%₹ Cr%₹96839.7%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged +6.4% growth against the decade's 10.5% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +5.5% over the last 4 quarters against +4.6%/yr over the last 8 — stabilising; TTM profit +26.0% vs +4.2%/yr — accelerating.

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.

Laxmi Organic Industries Ltd's operating margin is 12.0% in the Jun 26 quarter, +7.6 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 6.0% to 12.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 12.0%, +7.6 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 6.0%–12.0%.

Why the margin moved: operating margin went +7.4 pp year on year while gross margin went +7.5 pp — the gain came mostly from the gross line: input costs and pricing.

FY26: 6.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 12-year window.
within a 6.0–12.0% band over 12 years
operating marginYoY change (pp)
12%4.6%11%2.3%9.0%0.0%7.3%−2.3%5.5%−4.6%%%6%−4%FY15FY20FY26
12%4.6%11%2.3%9.0%0.0%7.3%−2.3%5.5%−4.6%%%6%−4%FY15FY20FY26
Jun 26: 12.0% operating margin (+7.6 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)
13%8.7%10%4.8%8.2%1.0%6.0%−2.8%3.8%−6.7%%%12%7.6%Sep 23Dec 24Jun 26
13%8.7%10%4.8%8.2%1.0%6.0%−2.8%3.8%−6.7%%%12%7.6%Sep 23Dec 24Jun 26
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.

Laxmi Organic Industries Ltd earned ₹68.0 Cr of net profit in the Jun 26 quarter, +223.8% year on year. Full-year FY26 profit was ₹79.0 Cr. The 10-year compound rate is 11.3%. That is 7.0% of the quarter's revenue. The same quarter a year earlier earned ₹21.0 Cr.

Jun 26 profit was ₹68.0 Cr, +223.8% year on year. On the full year, FY26 printed ₹79.0 Cr (−30.7%), and the 10-year compound rate is 11.3%.

FY26 profit ₹79.0 Cr (−30.7% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
11.3% a year over 10 years
Net profitYoY growth
276184%207121%13858%69−5.4%0−69%₹ Cr%₹79−30.7%FY16FY21FY26
276184%207121%13858%69−5.4%0−69%₹ Cr%₹79−30.7%FY16FY21FY26
Jun 26: ₹68.0 Cr (+223.8% 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
73247%55164%3782%180.0%0−83%₹ Cr%₹68223.8%Sep 23Dec 24Jun 26
73247%55164%3782%180.0%0−83%₹ Cr%₹68223.8%Sep 23Dec 24Jun 26

Why profit moved: revenue contributed +39.7% and the margin +7.6 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +37.3% vs revenue +6.4%. 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.

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 269% of Laxmi Organic Industries Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹175 Cr of operating cash against ₹79.0 Cr of profit. After ₹646 Cr of capital spending, ₹−471 Cr was left as free cash.

FY26: operating cash of ₹175 Cr against reported profit of ₹79.0 Cr, leaving free cash of ₹−471 Cr after ₹646 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 269% of profit.

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

FY26: CFO ₹175 Cr vs profit ₹79.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
269% of 3-year profit arrived as cash
Operating cashNet profitFree cash
64434445−254−554₹ Cr₹175₹79₹−471FY16FY21FY26
64434445−254−554₹ Cr₹175₹79₹−471FY16FY21FY26
FY26: CFO = 222% of profit (three-year rate 269%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
325%235%146%56%−34%%222%FY16FY21FY26
325%235%146%56%−34%%222%FY16FY21FY26

Why conversion sits at 269%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle.

Router verdict: the bigger cash user is investment — capital spending ran 4.2× depreciation over three years, so the next section's job is to check what that build-out is buying.

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).

Laxmi Organic Industries Ltd's cash conversion cycle runs −3 days in FY26, down from 5 days in FY21. Capital spending ran ₹1,279 Cr over the last 3 years. At FY26 sales of ₹2,847 Cr each day of that cycle holds about ₹7.8 Cr, so roughly ₹−23.0 Cr sits inside the business at any moment.

FY26: debtors at 67 days, inventory at 70 days — roughly 2.3 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −3 days, tighter than FY21's 5.

The full loop: cash goes out to suppliers and production on day 0; stock waits 70 days to sell; customers pay about 67 days after that; and suppliers themselves are paid at 140 days — netting out to the −3-day cycle.

In money terms: at FY26 sales of ₹2,847 Cr, each day of the cycle holds about ₹7.8 Cr — so the −3-day loop keeps roughly ₹−23.0 Cr sitting inside the business at any moment.

FY26: a −3-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 12-year window.
−8 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
1611146618−29days−3d70d67d140dFY15FY17FY20FY23FY26
1611146618−29days−3d70d67d140dFY15FY20FY26

On the investment side: capital spending of ₹1,279 Cr over the last 3 fiscal years against ₹308 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹652 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹646 Cr, work-in-progress ₹652 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
7045283521760₹ Cr₹646₹652FY16FY18FY21FY23FY26
7045283521760₹ Cr₹646₹652FY16FY21FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

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.

Laxmi Organic Industries Ltd earns a ROCE of 5% in FY26. Return on invested capital clears the cost of that capital by −6.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 2.8% net margin on 0.83× asset turns.

FY26 ROCE is 5%.

🚨 Why the return is what it is — the wiring (FY26): 2.8% net margin × 0.83× asset turns × 1.73× balance-sheet leverage ≈ 4.0% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 6.0% − 12.0% = a −6.0 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.

FY26: ROCE 5% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 11-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the full ladder
ROCEROIC (annual)WACC
28%22%15%9.1%2.9%%5%4.6%FY16FY21FY26
28%22%15%9.1%2.9%%5%4.6%FY16FY21FY26
Q4 FY26: ROCE 4.5% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
13%10%8.3%6.1%3.9%%4.5%4.7%Q1 FY24Q2 FY25Q4 FY26
13%10%8.3%6.1%3.9%%4.5%4.7%Q1 FY24Q2 FY25Q4 FY26
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.

Laxmi Organic Industries Ltd carries total debt of ₹543 Cr against shareholder equity of ₹1,986 Cr as of Mar 26, a debt-to-equity of 0.27 — effectively unlevered. On the annual view that ratio went from 0.11 in FY22 to 0.27 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹543 Cr against shareholder equity of ₹1,986 Cr — a debt-to-equity of 0.27. On the annual view, debt-to-equity went from 0.11 (FY22) to 0.27 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹543 Cr at 0.27× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
5860.31×4400.25×2930.18×1470.12×00.06×₹ Cr×₹5430.27×FY22FY24FY26
5860.31×4400.25×2930.18×1470.12×00.06×₹ Cr×₹5430.27×FY22FY24FY26
Mar 26: debt ₹543 Cr, debt-to-equity 0.27 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
5860.31×4400.25×2930.18×1470.12×00.06×₹ Cr×₹5430.27×Jun 23Sep 24Mar 26
5860.31×4400.25×2930.18×1470.12×00.06×₹ Cr×₹5430.27×Jun 23Sep 24Mar 26
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.

Domestic institutions added 1.7 points of Laxmi Organic Industries Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 3.8% of the company. Foreign institutions moved −0.4 points over the same window, to 0.7%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: +1.7 points over 8 quarters to 3.8%; Foreign institutions: −0.4 points over 8 quarters to 0.7%; Promoters: −0.2 points over 8 quarters to 69.3%.

Why the register moved: domestic institutions drove it (+1.7 points) — steady accumulation by institutions reading the same numbers this page reads.

Fiscal-year ends: promoters −0.3 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
75%55%35%15%−4.7%%69.4%1.2%3.8%25.7%Mar 24Mar 25Mar 26
75%55%35%15%−4.7%%69.4%1.2%3.8%25.7%Mar 24Mar 25Mar 26
Domestic institutions added 1.7 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
78%57%36%16%−5.3%%69.3%0.7%3.8%26.1%Jun 23Dec 24Jun 26
78%57%36%16%−5.3%%69.3%0.7%3.8%26.1%Jun 23Dec 24Jun 26
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.

Laxmi Organic 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.

14 · Related companies · Chemicals - Organic
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Nitta Gelatin India LtdKERALACHEM 82.3/100Sector-leading setup78% evidence 27.8/35 Revenue 11.8% · PAT 34.1% · OPM change 10 pp 83% evidence 20.2/25 ROCE 31.3% · OPM 28% 76% evidence 14.3/20 P/E 13.5× · PEG — 50% evidence 20.0/20 RS sector 71.7% · RS bench 85.7% · 1Y 75.4%4 of 4 weeks ahead to 2026-06-07 100% evidence
Exact sum: 27.8 + 20.2 + 14.3 + 20 = 82.3 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Balaji Amines LtdBALAMINES 64.9/100Mixed-positive evidence82% evidence LEADER 26.7/35 Revenue 11.1% · PAT 41.6% · OPM change 10 pp 95% evidence 13.2/25 ROCE 11% · OPM 25% 76% evidence 6.6/20 P/E 33.9× · PEG — 50% evidence 18.4/20 RS sector 27.9% · RS bench 45.8% · 1Y 26.9%12 of 12 weeks ahead 100% evidence
Exact sum: 26.7 + 13.2 + 6.6 + 18.4 = 64.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3OCCL LtdOCCLLTD 62.1/100Mixed-positive evidence60% evidence TURNING 26.2/35 Revenue 40.6% · PAT 100% · OPM change 7 pp 95% evidence 12.1/25 ROCE 12.8% · OPM 28% 76% evidence 11.5/20 P/E 10.9× · PEG — 15% evidence 12.3/20 RS sector — · RS bench 46.7% · 1Y —3 of 3 weeks ahead 25% evidence
Exact sum: 26.2 + 12.1 + 11.5 + 12.3 = 62.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Shri Ahimsa Naturals LtdSHRIAHIMSA 60.8/100Thin evidence · provisional56% evidence LEADER 18.9/35 Revenue — · PAT — · OPM change -2 pp 26% evidence 17.8/25 ROCE 21.7% · OPM 28% 95% evidence 10.3/20 P/E 30.9× · PEG — 15% evidence 13.8/20 RS sector 22.1% · RS bench 40.5% · 1Y 114.9%12 of 12 weeks ahead 100% evidence
Exact sum: 18.9 + 17.8 + 10.3 + 13.8 = 60.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5Indo Amines LtdINDOAMIN 59.8/100Mixed-positive evidence77% evidence TURNING 22.5/35 Revenue 7.6% · PAT 42.9% · OPM change 2 pp 83% evidence 16.0/25 ROCE 19.9% · OPM 11% 95% evidence 13.9/20 P/E 11.7× · PEG — 50% evidence 7.4/20 RS sector -12.9% · RS bench 0.5% · 1Y -15%10 of 10 weeks ahead 70% evidence
Exact sum: 22.5 + 16 + 13.9 + 7.4 = 59.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Foseco India LtdFOSECOIND 57.4/100Mixed-positive evidence83% evidence TURNING 18.6/35 Revenue 26.9% · PAT 7.5% · OPM change 2 pp 88% evidence 14.9/25 ROCE 17.4% · OPM 20% 100% evidence 11.1/20 P/E 39.7× · PEG 1.31 65% evidence 12.8/20 RS sector 22.8% · RS bench -2.4% · 1Y 5.3%4 of 10 weeks ahead 70% evidence
Exact sum: 18.6 + 14.9 + 11.1 + 12.8 = 57.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Elantas Beck India LtdELANTAS 50.5/100Mixed-positive evidence72% evidence ASLEEP 17.2/35 Revenue 11.1% · PAT 6.6% · OPM change 0 pp 83% evidence 17.9/25 ROCE 21.2% · OPM 20% 76% evidence 7.5/20 P/E 50.9× · PEG — 50% evidence 7.9/20 RS sector -7.6% · RS bench -2.3% · 1Y -26%1 of 7 weeks ahead 70% evidence
Exact sum: 17.2 + 17.9 + 7.5 + 7.9 = 50.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Laxmi Organic Industries Ltdthis pageLXCHEM 48.2/100Mixed-negative evidence94% evidence TURNING 20.8/35 Revenue 5.5% · PAT 26% · OPM change 7.6 pp 100% evidence 8.2/25 ROCE 4.7% · OPM 12% 100% evidence 11.8/20 P/E 39.4× · PEG 1.14 100% evidence 7.4/20 RS sector -20.5% · RS bench 6.3% · 1Y -13.2%10 of 10 weeks ahead 70% evidence
Exact sum: 20.8 + 8.2 + 11.8 + 7.4 = 48.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Valiant Organics LtdVALIANTORG 46.9/100Mixed-negative evidence83% evidence ASLEEP 23.0/35 Revenue 2.6% · PAT 100% · OPM change 2 pp 83% evidence 9.6/25 ROCE 5.5% · OPM 12% 95% evidence 11.4/20 P/E 25.7× · PEG — 50% evidence 2.9/20 RS sector -18.7% · RS bench -6.3% · 1Y -29.3%7 of 12 weeks ahead 100% evidence
Exact sum: 23 + 9.6 + 11.4 + 2.9 = 46.9 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -18.7% and the one-year return is -29.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
10Shree Ganesh Remedies LtdSGRL 46.6/100Thin evidence · provisional57% evidence 11.3/35 Revenue -17.3% · PAT -37.7% · OPM change -4.8 pp 53% evidence 16.4/25 ROCE 19.2% · OPM 31.9% 57% evidence 8.9/20 P/E 35.1× · PEG — 50% evidence 10.0/20 RS sector 2.3% · RS bench -9.9% · 1Y -15.8%4 of 12 weeks ahead to 2026-03-08 70% evidence
Exact sum: 11.3 + 16.4 + 8.9 + 10 = 46.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11Fairchem Organics LtdFAIRCHEMOR 44.4/100Mixed-negative evidence87% evidence BREAKING OUT 18.4/35 Revenue 0% · PAT 50% · OPM change 6 pp 95% evidence 5.7/25 ROCE 3.3% · OPM 10% 95% evidence 6.0/20 P/E 66.4× · PEG — 50% evidence 14.3/20 RS sector 1.2% · RS bench 16.6% · 1Y -12.6%8 of 12 weeks ahead 100% evidence
Exact sum: 18.4 + 5.7 + 6 + 14.3 = 44.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Fine Organic Industries LtdFINEORG 43.3/100Mixed-negative evidence96% evidence FADING 13.8/35 Revenue 4.2% · PAT 1.7% · OPM change 1 pp 88% evidence 18.0/25 ROCE 21.5% · OPM 21% 100% evidence 6.0/20 P/E 36.2× · PEG 2.7 100% evidence 5.5/20 RS sector -10.6% · RS bench 3.4% · 1Y -7.3%7 of 12 weeks ahead 100% evidence
Exact sum: 13.8 + 18 + 6 + 5.5 = 43.3 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
13GFL LtdGFLLIMITED 43.0/100Mixed-negative evidence62% evidence 20.6/35 Revenue 0% · PAT 100% · OPM change 2562 pp 62% evidence 6.3/25 ROCE 2.1% · OPM 19% 95% evidence 11.3/20 P/E 11× · PEG — 15% evidence 4.8/20 RS sector -14.7% · RS bench -16.8% · 1Y -28.6%1 of 8 weeks ahead 70% evidence
Exact sum: 20.6 + 6.3 + 11.3 + 4.8 = 43 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14BASF India LtdBASF 40.7/100Mixed-negative evidence90% evidence ASLEEP 11.9/35 Revenue -0.4% · PAT -12.5% · OPM change 1.7 pp 88% evidence 9.3/25 ROCE 14.5% · OPM 3.2% 100% evidence 12.2/20 P/E 38.1× · PEG 1.62 100% evidence 7.3/20 RS sector -4.4% · RS bench -8.7% · 1Y -28%1 of 11 weeks ahead 70% evidence
Exact sum: 11.9 + 9.3 + 12.2 + 7.3 = 40.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Oriental Aromatics LtdOAL 38.5/100Mixed-negative evidence74% evidence TURNING 13.0/35 Revenue 13.5% · PAT -77.7% · OPM change -0.4 pp 95% evidence 7.2/25 ROCE 4.5% · OPM 7.6% 95% evidence 8.7/20 P/E 231× · PEG — 15% evidence 9.6/20 RS sector -9.8% · RS bench 15.9% · 1Y -3.1%9 of 10 weeks ahead 70% evidence
Exact sum: 13 + 7.2 + 8.7 + 9.6 = 38.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Gem Aromatics LtdGEMAROMA 31.4/100Thin evidence · provisional56% evidence TURNING 4.3/35 Revenue -27.3% · PAT -80% · OPM change -8.4 pp 83% evidence 8.6/25 ROCE 3.4% · OPM 14.2% 95% evidence 8.5/20 P/E 705× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —2 of 10 weeks ahead 0% evidence
Exact sum: 4.3 + 8.6 + 8.5 + 10 = 31.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
17Sigachi Industries LtdSIGACHI 25.4/100Adverse evidence77% evidence TURNING 6.2/35 Revenue -2.1% · PAT -80% · OPM change -8.8 pp 83% evidence 6.9/25 ROCE 6.2% · OPM 13.5% 95% evidence 8.5/20 P/E 30.4× · PEG — 50% evidence 3.8/20 RS sector -35.5% · RS bench -8.5% · 1Y -33.6%7 of 10 weeks ahead 70% evidence
Exact sum: 6.2 + 6.9 + 8.5 + 3.8 = 25.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18Sacheerome LtdSACHEEROME 59.9/100Thin evidence · provisional41% evidence TURNING 17.4/35 Revenue — · PAT — · OPM change 1 pp 26% evidence 20.6/25 ROCE 35.7% · OPM 23% 95% evidence 10.2/20 P/E 33.3× · PEG — 15% evidence 11.7/20 RS sector — · RS bench 30.9% · 1Y 141.7%3 of 10 weeks ahead 25% evidence
Exact sum: 17.4 + 20.6 + 10.2 + 11.7 = 59.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
19Jyoti Resins and Adhesives LtdJYOTIRES 46.1/100Thin evidence · provisional50% evidence 13.2/35 Revenue 8.7% · PAT -5.5% · OPM change -6 pp 53% evidence 18.7/25 ROCE 50% · OPM 26% 57% evidence 10.8/20 P/E 14.3× · PEG — 15% evidence 3.4/20 RS sector -20.6% · RS bench -30.3% · 1Y -40.3%0 of 12 weeks ahead to 2026-03-08 70% evidence
Exact sum: 13.2 + 18.7 + 10.8 + 3.4 = 46.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
20Citurgia Biochemicals LtdCITURGIA 41.1/100Thin evidence · provisional18% evidence 14.3/35 Revenue — · PAT -30.4% · OPM change — 18% evidence 6.8/25 ROCE -2150% · OPM — 46% evidence 10.0/20 P/E — · PEG — 0% evidence 10.0/20 RS sector — · RS bench — · 1Y — 0% evidence
Exact sum: 14.3 + 6.8 + 10 + 10 = 41.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

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.

15 · Frequently asked questions

Frequently asked questions

What is Laxmi Organic Industries Ltd's share price today?

Laxmi Organic Industries Ltd trades at ₹178, −8.8% over the past year. The company is valued at ₹4,948 Cr. The stock sits at 61% of its 52-week range of ₹112–₹221, +9.4% versus its 200-day average. On the tape, the price is in a downtrend, 38 weeks in. — as of 31 July 2026.

What were Laxmi Organic Industries Ltd's latest quarterly results?

Laxmi Organic Industries Ltd reported revenue of ₹968 Cr and net profit of ₹68.0 Cr for the Jun 26 quarter. Revenue rose 39.7% and profit rose 223.8% year on year. Earnings per share were ₹2.44. The operating margin was 12.0%, 7.6 pp higher than a year earlier. — as of 31 July 2026.

What is Laxmi Organic Industries Ltd's revenue?

Laxmi Organic Industries Ltd reported revenue of ₹968 Cr in the Jun 26 quarter, +39.7% year on year. For the full FY26 fiscal year, revenue was ₹2,847 Cr (−4.6%). Over the last 10 years revenue compounded at 10.5% a year. — as of 31 July 2026.

What is Laxmi Organic Industries Ltd's profit?

Laxmi Organic Industries Ltd earned ₹68.0 Cr of net profit in the Jun 26 quarter, +223.8% year on year. Full-year FY26 profit was ₹79.0 Cr. The operating margin ran 12.0% in the latest quarter. — as of 31 July 2026.

What is Laxmi Organic Industries Ltd's market cap?

Laxmi Organic Industries Ltd's market capitalisation is ₹4,948 Cr at a share price of ₹178. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.

What is Laxmi Organic Industries Ltd's P/E ratio?

Laxmi Organic Industries Ltd trades at a P/E of 39.4×, at the 24th percentile of its own 5-year range, against a long-run median of 53.1×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.

Does Laxmi Organic Industries Ltd pay a dividend?

Yes — Laxmi Organic Industries Ltd's dividend payout was 10% of profit in FY26, and it recorded a payout in 7 of its last 12 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.

Is Laxmi Organic Industries Ltd overvalued?

On its own history, Laxmi Organic Industries Ltd looks cheap against its own history: its P/E of 39.4× has been cheaper only 24% of the time in 5 years (long-run median 53.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 31 July 2026.

Is Laxmi Organic Industries Ltd growing?

Yes — Laxmi Organic Industries Ltd is growing: latest-quarter revenue +39.7% year on year, profit +223.8%, and the margin +7.6 pp at 12.0%. The 10-year compound rates are 10.5% (revenue) and 11.3% (profit). The earnings engine currently reads: improving — as of 31 July 2026.

How is Laxmi Organic Industries Ltd performing?

Laxmi Organic Industries Ltd is in a downtrend, 38 weeks in. Its latest quarter's revenue rose 39.7% and profit rose 223.8% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 3 weeks. This describes what the data did, not a rating. — as of 31 July 2026.

What stage is Laxmi Organic Industries Ltd in?

Mixed — no clean majority across the growth curves, ROCE holding at 4.9% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +5.5% latest, profit growth +26.0% latest, eps growth +24.7% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.

Is Laxmi Organic Industries Ltd in an uptrend?

No — the price is in a downtrend (week 38 of stage 4), trading +9.4% 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 31 July 2026.

Is Laxmi Organic Industries Ltd beating the market?

On recent form, yes — Laxmi Organic Industries Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 5.3 years the stock moved −4% against the NIFTY 500's +91% — behind the index over the full window. — as of 31 July 2026.

Will Laxmi Organic Industries Ltd's share price go up?

This page publishes no price forecast for Laxmi Organic Industries Ltd. What it measures instead: the share price is ₹178, the price is in a downtrend 38 weeks in. Its P/E of 39.4× sits at the 24th percentile of its own 5-year range. — as of 31 July 2026.

Who owns Laxmi Organic Industries Ltd?

Promoters hold 69.3% of Laxmi Organic Industries Ltd, foreign institutions 0.7%, domestic institutions 3.8% and the public 26.1% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 1.7 points over 8 quarters. — as of 31 July 2026.

Does Laxmi Organic Industries Ltd have too much debt?

No — Laxmi Organic Industries Ltd's debt-to-equity is 0.27, and operating profit covers the interest bill 8×. FY26 borrowings were ₹543 Cr against equity of ₹1,985 Cr. The returns on this page are earned, not borrowed — as of 31 July 2026.

What is Laxmi Organic Industries Ltd's capex?

Laxmi Organic Industries Ltd spent ₹1,279 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 ₹646 Cr, with ₹652 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.

What is Laxmi Organic Industries Ltd's cash flow?

Laxmi Organic Industries Ltd generated ₹175 Cr of operating cash flow in FY26 and ₹−471 Cr of free cash flow after ₹646 Cr of capital spending. Reported profit that year was ₹79.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.

Is Laxmi Organic Industries Ltd's profit real cash?

Yes — over the last 3 fiscal years, 269% of Laxmi Organic Industries Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹175 Cr against reported profit of ₹79.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 31 July 2026.

Where is Laxmi Organic Industries Ltd in its business cycle?

Laxmi Organic Industries Ltd's FY26 operating margin was 6.0%, against a 12-year band of 6.0%–12.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 12.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.

What could break the Laxmi Organic Industries Ltd story?

Biggest watch item: the price is not yet in a confirmed uptrend — timing risk, not thesis risk. 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 31 July 2026.

Is Laxmi Organic Industries Ltd a stock worth studying right now?

This is not investment advice. The machine read: Laxmi Organic Industries Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.

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