Neptune Petrochemicals Ltd (NEPTUNE) — share price & stock analysis
Profits have nearly tripled in two years.
Neptune Petrochemicals Ltd (NEPTUNE) trades at ₹187 as of 27 March 2026. The machine reads this as steady growth: profits have nearly tripled in two years. the price is in Stage 2 — advancing, 39 weeks in. Fundamentals-momentum score: 50/100 (mixed).
Data as of 27 March 2026 · every number traces to its Screener source column · not investment advice.
- Market cap
- ₹423 Cr
- P/E
- 15.8×
- ROE
- 50.8%
- Book value / share
- ₹68.2
- Revenue (FY25)
- ₹948 Cr
- Profit after tax (FY25)
- ₹25 Cr
- Weinstein stage
- Stage 2 (39 weeks)
- Data as of
- 27 March 2026
2 of the 3 things we track are currently moving the right way — some things working, some not.
Where the levels actually stand: ROCE 62% — a high-quality engine; effectively no debt. Momentum says which way things are moving; these say where they are.
Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.
Stage 2: the trend is up, and has been for 39 weeks
STAGE 2 · ADVANCING · 39 WEEKSPrice trends have a life cycle: they base (1), advance (2), top out (3) and decline (4). This chart is in Stage 2: advancing — 39 weeks so far, confirmed.stage
The price sits above its rising 200-day average (₹183 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200
What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200
Data: Weekly price, moving averages and stage
| Period | Price (₹) | 200-DMA (₹) | 50-DMA (₹) | Stage |
|---|---|---|---|---|
| Jun 25 | 132 | 139 | 139 | 4 |
| Jun 25 | 148 | 139 | 139 | 4 |
| Jun 25 | 143 | 140 | 140 | 4 |
| Jun 25 | 144 | 140 | 141 | 4 |
| Jul 25 | 142 | 140 | 141 | 4 |
| Jul 25 | 141 | 140 | 141 | 4 |
| Jul 25 | 143 | 140 | 141 | 2 |
| Jul 25 | 139 | 140 | 141 | 2 |
| Aug 25 | 137 | 140 | 141 | 2 |
| Aug 25 | 139 | 140 | 141 | 2 |
| Aug 25 | 141 | 140 | 141 | 2 |
| Aug 25 | 139 | 140 | 140 | 2 |
| Aug 25 | 137 | 140 | 140 | 2 |
| Sep 25 | 141 | 140 | 140 | 2 |
| Sep 25 | 165 | 141 | 143 | 2 |
| Sep 25 | 172 | 142 | 148 | 2 |
| Sep 25 | 166 | 144 | 153 | 2 |
| Oct 25 | 180 | 145 | 156 | 2 |
| Oct 25 | 159 | 146 | 159 | 2 |
| Oct 25 | 162 | 147 | 159 | 2 |
| Oct 25 | 167 | 148 | 160 | 2 |
| Oct 25 | 162 | 148 | 160 | 2 |
| Nov 25 | 158 | 149 | 160 | 2 |
| Nov 25 | 167 | 150 | 162 | 2 |
| Nov 25 | 160 | 150 | 162 | 2 |
| Nov 25 | 162 | 151 | 162 | 2 |
| Dec 25 | 177 | 152 | 164 | 2 |
| Dec 25 | 209 | 154 | 170 | 2 |
| Dec 25 | 217 | 158 | 179 | 2 |
| Dec 25 | 214 | 160 | 185 | 2 |
| Jan 26 | 200 | 162 | 188 | 2 |
| Jan 26 | 196 | 164 | 190 | 2 |
| Jan 26 | 210 | 165 | 192 | 2 |
| Jan 26 | 196 | 167 | 194 | 2 |
| Feb 26 | 220 | 170 | 199 | 2 |
| Feb 26 | 241 | 173 | 206 | 2 |
| Feb 26 | 225 | 175 | 209 | 2 |
| Feb 26 | 229 | 177 | 211 | 2 |
| Feb 26 | 224 | 179 | 214 | 2 |
| Mar 26 | 207 | 180 | 213 | 2 |
| Mar 26 | 209 | 181 | 213 | 2 |
| Mar 26 | 196 | 182 | 211 | 2 |
| Mar 26 | 187 | 183 | 207 | 2 |
Profits have grown in 3 of the last 3 years — compounding so far, on a short record
Over 3 years, sales went from ₹81.0 Cr to ₹948 Cr (about 127% a year), and profit from ₹1.0 Cr to ₹25.0 Cr.revenuenet_profit
Margins held steady throughout (0.0–3.0%) — disciplined growth.operating_profit
Data: Revenue by year
| Period | Revenue (₹ Cr) |
|---|---|
| FY22 | 81 |
| FY23 | 708 |
| FY24 | 668 |
| FY25 | 948 |
Data: Profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| FY22 | 1 |
| FY23 | 10 |
| FY24 | 21 |
| FY25 | 25 |
Data: OPM % by year
| Period | OPM % (%) |
|---|---|
| FY22 | 0.0 |
| FY23 | 1.8 |
| FY24 | 3.0 |
| FY25 | 2.5 |
The profits are real — they turn into cash
Over the last 4 profitable years, the business reported ₹57.0 Cr of profit and collected ₹78.0 Cr of operating cash — about 137% conversion.operating_cash_flownet_profit
When cash tracks profit this closely, the earnings need no asterisk.
Data: Cash collected vs profit reported (annual)
| Period | Operating cash flow (₹ Cr) | Profit after tax (₹ Cr) |
|---|---|---|
| FY22 | 12.0 | 1.0 |
| FY23 | -7.0 | 10.0 |
| FY24 | 17.0 | 21.0 |
| FY25 | 56.0 | 25.0 |
The cash cycle is stable
One rupee now takes about 6 days to go out the door as materials and come back as collected cash.cash_conversion_cycle
The biggest mover: customers paying faster (39 → 26 days).debtor_days
Data: Days of cash locked up (annual)
| Period | Customers owe (debtor days) (days) | Stock on shelf (inventory days) (days) | We owe suppliers (payable days) (days) |
|---|---|---|---|
| FY22 | 175 | 184 | 429 |
| FY23 | 27.0 | 20.0 | 45.0 |
| FY24 | 39.0 | 15.0 | 46.0 |
| FY25 | 26.0 | 14.0 | 35.0 |
Building hard — new capacity is under construction
The productive asset base has gone from ₹0.0 Cr (FY22) to ₹3.0 Cr, with another ₹1.0 Cr of capacity under construction right now.fixed_assetscwip
Work-in-progress is 33% of the existing asset base — that is a serious bet on future demand. Capacity like this shows up in sales with a lag; it is tomorrow’s growth being paid for today.cwip
The build is self-funded: the last 3 years' investing outflow (₹14.0 Cr) fits inside the operating cash the business generated (₹66.0 Cr).investing_cash_flowoperating_cash_flow
Data: Assets in place vs under construction (annual)
| Period | Fixed assets (₹ Cr) | Under construction (CWIP) (₹ Cr) |
|---|---|---|
| FY22 | 0.0 | 0.0 |
| FY23 | 1.0 | 0.0 |
| FY24 | 3.0 | 0.0 |
| FY25 | 3.0 | 1.0 |
Almost no debt — this company cannot be killed by a bad year
For every ₹100 shareholders have put in (and left in), the company has borrowed ₹16 — total borrowings have grown from ₹0.0 Cr to ₹11.0 Cr over the window.borrowings
Data: Total borrowings (annual)
| Period | Borrowings (₹ Cr) |
|---|---|
| FY22 | 0.0 |
| FY23 | 5.0 |
| FY24 | 0.0 |
| FY25 | 11.0 |
Data: Debt vs shareholders’ money (annual)
| Period | Debt ÷ equity (x) |
|---|---|
| FY22 | 0.0 |
| FY23 | 0.5 |
| FY24 | 0.0 |
| FY25 | 0.2 |
A good business — the question is the price
The numbers are genuinely mixed, and the price is roughly fair to the delivery so far.
Best thing in the data: free cash flow rising (₹13.0 Cr → ₹47.0 Cr).operating_cash_flow
Biggest worry: returns on capital falling (118.0% → 62.0%).roce_pct
Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.
Straight answers from the data
What does Neptune Petrochemicals Ltd do?
Incorporated in October 2021, Neptune Petrochemicals Limited manufactures and trades a range of bitumen products and emulsions. It is listed in the Petrochemicals - Others sector with a market capitalisation of ₹423 Cr.
What is Neptune Petrochemicals Ltd's share price?
As of 27 March 2026, Neptune Petrochemicals Ltd trades at ₹187, with a market capitalisation of ₹423 Cr. Prices are weekly closes from Screener data; this page refreshes with each weekly update.
What is Neptune Petrochemicals Ltd's share price target?
Sector Alpha does not publish broker-style price targets. Our discounted-cash-flow model estimates Neptune Petrochemicals Ltd's intrinsic value at ₹530 per share under base assumptions (bear ₹250, bull ₹530), against the current price of ₹187 — a 183% margin of safety. These are model estimates, not forecasts — treat them as one input alongside the valuation history below, not as a target.
What is Neptune Petrochemicals Ltd's long-term growth record?
Revenue grew from ₹81 Cr in FY22 to ₹948 Cr in FY25 — a 127.0% compound annual growth rate over 3 years. Profit after tax compounded at 192.4% over the same period (₹1 Cr → ₹25 Cr).
Is Neptune Petrochemicals Ltd stock in an uptrend?
Stage 2: the trend is up, and has been for 39 weeks. Neptune Petrochemicals Ltd is in Stage 2 — advancing, 39 weeks in (confirmed). Stages follow Stan Weinstein's four-phase read of weekly price against the 200-day average: basing (1), advancing (2), topping (3), declining (4).
Does Neptune Petrochemicals Ltd have too much debt?
Almost no debt — this company cannot be killed by a bad year. For every ₹100 shareholders have put in (and left in), the company has borrowed ₹16 — total borrowings have grown from ₹0.0 Cr to ₹11.0 Cr over the window.
What is the bull case for Neptune Petrochemicals Ltd?
Profits have nearly tripled in two years. Best thing in the data: free cash flow rising (₹13.0 Cr → ₹47.0 Cr).
What is the bear case for Neptune Petrochemicals Ltd — what could break the story?
Biggest worry: returns on capital falling (118.0% → 62.0%). Two quarters of sales reversing would kill this story. The nearest-term thing to watch: when CWIP converts to assets, sales must follow — two years of rising assets with flat sales would mean the bet is not paying. This falsification condition is stated up front so the thesis can be checked against incoming quarters, not defended after the fact.
Is Neptune Petrochemicals Ltd a stock worth studying right now?
Sector Alpha does not publish buy or sell recommendations — this is a research read, not advice. What the data says: a good business — the question is the price. The numbers are genuinely mixed, and the price is roughly fair to the delivery so far. Across the 7-model scorecard the composite research signal is on watch at 57% confidence. This is machine-written research compiled from Screener data — every number traces to its source — and it is not investment advice. Do your own diligence.