# Pondy Oxides & Chemicals share price today (Pondy Oxides & Chemicals Ltd, NSE: POCL)

> Pondy Oxides & Chemicals share price today: ₹384.00 at the NSE close on 3 November 2026, down 30.0% in a year. Pondy Oxides & Chemicals (NSE: POCL) is worth ₹2,926 crore, trades at a P/E of 20.4 and has closed between ₹384.00 and ₹617.38 over the past 52 weeks. > Pondy Oxides & Chemicals Ltd's earnings have grown faster than its share price. Earnings per share grew +109.2% in a year while the price moved −30.0%. POCL · Recycling · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/pondy-oxides-chemicals-ltd

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## Key numbers

- Business trend: Getting better, from the last 12 quarters
- Price: ₹384.00 (−30.0% in a year)
- P/E: 20.4× (lower than 83% of the last 3.4 years)
- Revenue (Jun 2026): ₹935 Cr (+55.1% on a year ago)
- Profit (Jun 2026): ₹36.0 Cr (+44.0% on a year ago)
- Operating margin: 6.0% (−1.0 points on a year ago)
- ROCE: 23%, FY26
- ROIC: 15.8%, against a 12.0% cost of capital: +3.8 points

The main question: profits are rising, but only −27% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Pondy Oxides & Chemicals share price today? Pondy Oxides & Chemicals Ltd's share price was ₹384.00 at the close on 3 November 2026. It has been falling for 5 weeks. That is 20.3% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹384 and ₹617, and at that close it was at the low of that range. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 15 weeks running. Over the last 11 years the share price moved +4,115% 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 24 July 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 Pondy Oxides & Chemicals this quarter? Three changes stood out: revenue up on a year earlier for 9 quarters in a row, profit up on a year earlier for 9 quarters in a row and indian funds and insurers (DIIs) raised their stake for 3 quarters in a row. 1. Revenue up on a year earlier for 9 quarters in a row In the June 2026 quarter revenue was ₹935 crore, +55.1% on a year earlier. 2. Profit up on a year earlier for 9 quarters in a row In the June 2026 quarter profit was ₹36 crore, +44% on a year earlier. 3. Indian funds and insurers (DIIs) raised their stake for 3 quarters in a row From 6.8% to 9.6% of the company by the September 2026 quarter. ## What are Pondy Oxides & Chemicals' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Pondy Oxides & Chemicals reported revenue of ₹935 crore, up 55.1% from ₹603 crore a year earlier, and a profit of ₹36.0 crore, up 44.0% from ₹25.0 crore. ### Pondy Oxides & Chemicals results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹935 crore | ₹603 crore | +55.1% |
| Profit | ₹36.0 crore | ₹25.0 crore | +44.0% |
| Earnings per share | ₹4.70 | ₹3.35 | +40.3% |
| Operating margin | 6.0% | 7.0% | −1.0 points |

The next results, for July to September 2026, are due by 14 November 2026: 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 27 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 June 2026). Revenue and profit in ₹ crore.)

## What is the Pondy Oxides & Chemicals share price history? Pondy Oxides & Chemicals closed at ₹384.00 on 3 November 2026, down 30.0% from ₹548.48 a year earlier (31 October 2025) and up 637.0% over five years. Its highest weekly close since March 2016 was ₹617.38 on 15 May 2026. ### Pondy Oxides & Chemicals share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹420.05 | −8.6% |
| 1 month ago · 1 Oct 2026 | ₹437.15 | −12.2% |
| 6 months ago · 30 Apr 2026 | ₹551.90 | −30.4% |
| 1 year ago · 31 Oct 2025 | ₹548.48 | −30.0% |
| 3 years ago · 3 Nov 2023 | ₹85.54 | +348.9% |
| 5 years ago · 4 Nov 2021 | ₹52.10 | +637.0% |
| 10 years ago · 4 Nov 2016 | ₹16.96 | +2,164.2% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹9.11 | +4,115.1% |
| Highest weekly close since March 2016, also the 52-week high · 15 May 2026 | ₹617.38 | −37.8% |
| Lowest weekly close since March 2016 · 1 Apr 2016 | ₹8.84 | +4,243.9% |
| 52-week low (weekly close) · 3 Nov 2026 | ₹384.00 | 0.0% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (562 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Pondy Oxides & Chemicals? 3 Nov 2026: Pondy Oxides & Chemicals closed at ₹384.00, down 8.6% on the week and down 12.2% on the month. 15 Sep 2026: ex-date for a dividend of ₹2 a share. ### Earlier

- 21 Jul 2026: Share split: face value cut from ₹5 to ₹2 a share (ex-date). - Results for April to June 2026: Revenue up 55.1% and profit up 44.0% on a year earlier. - Our read, 27 Jun 2026: POCL has expanded FY26 revenue 44% to ₹2,939 crore and profit 113% to ₹132 crore by scaling lead value-added products to 65% of segment revenue and growing copper volumes sevenfold off a tiny base. A ₹200 crore copper cathode plant (Phase 1 commissioning December 2026) promises operating profit per ton of ₹60,000-70,000 versus the current recycling ₹35,000-40,000, potentially doubling blended copper operating profit by FY28. - 27 May 2026: Pondy Oxides & Chemicals held its results call for January to March 2026. Management guided: Lead volumes FY27: 125,000-130,000 tons (15 percent growth from 107,727 MT FY26)
- 16 Oct 2024: Share split: face value cut from ₹10 to ₹5 a share (ex-date). ### Our read of the business

POCL has expanded FY26 revenue 44% to ₹2,939 crore and profit 113% to ₹132 crore by scaling lead value-added products to 65% of segment revenue and growing copper volumes sevenfold off a tiny base. A ₹200 crore copper cathode plant (Phase 1 commissioning December 2026) promises operating profit per ton of ₹60,000-70,000 versus the current recycling ₹35,000-40,000, potentially doubling blended copper operating profit by FY28. January to March 2026: Revenue surged to ₹935 crore (80% on a year earlier), profit ₹38 crore (111% on a year earlier), clean quarter, no one-offs, operating margin 6.3% on rising copper revenue mix. (Our read after the January to March 2026 results, written 27 June 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.)

## What dividend does Pondy Oxides & Chemicals pay? Pondy Oxides & Chemicals paid ₹2 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.52% at the ₹384.00 close on 3 November 2026. The last was a dividend of ₹2 a share, ex-date 15 September 2026. ### Pondy Oxides & Chemicals dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 15 Sep 2026 | ₹2 | Dividend |
| 11 Sep 2025 | ₹3.50 | Dividend |
| 11 Sep 2024 | ₹5 | Dividend |
| 15 Sep 2023 | ₹5 | 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. Pondy Oxides & Chemicals Ltd paid out 12% of its profit as dividends in FY26, and it paid a dividend in 12 of its last 13 reported years. One of those years shows a negative figure because profit itself was negative. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Pondy Oxides & Chemicals management say on the latest results call? On the call for January to March 2026, held on 27 May 2026, Pondy Oxides & Chemicals' management guided: Lead volumes FY27: 125,000-130,000 tons (15 percent growth from 107,727 MT FY26)

> “Copper consumption is poised to 3x in the next 3 to 4 years from close to 1.2 million tons to about 3 to 3.5 million tons. If the demand is surpassing consumption, the margin profiles should be protected as long as the products are right, you place them in the right market, and stay well-hedged.”
> Management, on the call for January to March 2026

### What management guided

- Lead volumes FY28: 15 percent on a year earlier growth (implying 144,000-150,000 ton range)
- Lead operating profit per ton FY27: ₹17,000-19,000. - Lead utilization FY27: 70 percent on TKP facility (204,000 MT nameplate)
- Lead utilization FY28: 80-90 percent on expanded facility. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/4529-27-May-2026.pdf). (From the call for January to March 2026, 27 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.)

## What could change the Pondy Oxides & Chemicals story? What are the risks? If Q1-July to September 2026 copper recycling volumes come in below 2,000 tons per quarter (signaling cathode feedstock priority cannibalizing recycling rather than supplementing it), or if lead operating profit per ton drops below ₹15,000 for two consecutive quarters (indicating the value-added premium is eroding), the core thesis that this is a margin-structural story, not a peak-cycle moment, would require reassessment. ### Each change stops working if

- : December 2026 commissioning slips beyond April to June 2027, or trial cathode operating profit per ton comes in below ₹50,000 (blended goal then unachievable at planned volume mix). - : OEM contracts shift to multi-sourcing, or competitors qualify for POCL's sole-source alloy chemistry, reducing the ₹700 per ton premium toward the ₹300 per ton peer level. - : Value-added product demand weakens, forcing volume prioritization over margin, reducing realized operating profit per ton toward the commodity floor of ₹12,000-14,000 per ton. - : Q1-July to September 2026 plastic margins regress to operating profit-negative due to procured plastic feedstock prices rising faster than realization (61% imports per concall). ### The main risks

- : Negative operating cash flow for two consecutive years (FY25 -₹81 crore, FY26 -₹44 crore) with ₹60 crore 3-year operating cash flow drain vs ₹222 crore profit, accrual-heavy recognition. ⚠ estimate
- : Copper cathode execution risk: Phase 1 commissioning December 2026 is the single critical path, a slip eliminates the FY28 volume/margin inflection. ⚠ estimate
- : Management consistency pattern: three cross-call contradictions in 12 months (Mundra, aluminum, copper volume redefinition) reduce guidance precision. ⚠ estimate

(Our read after the January to March 2026 results, written 27 June 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in Pondy Oxides & Chemicals' next results? When Pondy Oxides & Chemicals reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Plastic segment profitability sustainability post-relocation - April to June 2026 profit and operating profit per ton achievement validation: management claimed 'currently profit positive' (January to March 2026 inflection) and guiding FY27 full-year profit positive after March facility relocation. Critical: does Q1-Q2 maintain profit profitability or regress to losses? Margin regression invalidates turnaround thesis and drags consolidated guidance credibility. - What to check (from the call)
- Plastic segment profitability sustainability post-relocation - April to June 2026 profit and operating profit per ton achievement validation: management claimed 'currently profit positive' (January to March 2026 inflection) and guiding FY27 full-year profit positive after March facility relocation. Critical: does Q1-Q2 maintain profit profitability or regress to losses? Margin regression invalidates turnaround thesis and drags consolidated guidance credibility. - Lead volume recovery trajectory Q1-January to March 2027 toward 125,000-130,000 ton goal with ₹17,000-19,000 operating profit per ton delivery: Q4 showed deliberate volume moderation for margin harvesting. FY27 guidance assumes volume recovery to 15 percent growth. Volumes staying depressed indicate either value-added demand weaker than projected (margin risk) or product-specific capacity bottleneck more acute than acknowledged (utilization risk). Validates 70 percent utilization on 204,000 MT actual run rate. - Copper recycling capacity 75 percent utilization ramp and 8,000-9,000 ton production run rate achievement: management stated FY26 utilization approximately 65 percent on 12,000 MT capacity and progressive ramp to 70 percent in FY27. Q1-July to September 2026 production below guidance indicates cathode Phase 1 delay risk (recycling is cathode feedstock priority) or demand weaker than guided, impacting both volume and margin achievement. - Working capital normalization to sub-50 day cash conversion and zero incremental debt issuance for capital spending funding: April 5 receivable receipt of ₹128-130 crores validated March 31 timing claim. April to June 2026 cash conversion and receivable aging must show improvement to sub-50 day goal to confirm working capital discipline intact. If operating cash flow remains negative or debt issuance occurs despite capital spending commitment, balance sheet assumptions and leverage trajectory change materially. ## Which stock lists is Pondy Oxides & Chemicals on? Pondy Oxides & Chemicals is not on any of our India lists this week. ## Is Pondy Oxides & Chemicals profitable? Pondy Oxides & Chemicals Ltd earned ₹36.0 Cr of net profit in the Jun 2026 quarter, +44.0% on the same quarter a year earlier. That is the 9th quarter in a row of profit growth. Full-year FY26 profit was ₹132 Cr. Over 18 years profit has grown 19.9% a year on average. That is 3.9% of the quarter's revenue. The same quarter a year earlier earned ₹25.0 Cr. For the full year, FY26 profit was ₹132 Cr (+127.6% on the year before). Why profit moved: revenue changed +55.1% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +115.8% and revenue +49.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY26-Q4. revenue ₹935 Cr and profit ₹38 Cr as reported. FY27-Q1. revenue ₹935 Cr and profit ₹36 Cr as reported. Why-sources: our stock research file (27 June 2026) and the company’s own results for those quarters. ## How much revenue does Pondy Oxides & Chemicals make, and is it growing? Pondy Oxides & Chemicals Ltd reported ₹935 Cr of revenue in the Jun 2026 quarter, +55.1% on the same quarter a year earlier. That is the 9th quarter in a row with growth on the year before. Over 18 years it has grown 17.4% a year on average. The last full year, FY26, came in at ₹2,958 Cr. Why this happened. Lead EBITDA per ton reached Rs 19,739 in Q4 FY26 (43% YoY growth), driven by the shift to value-added alloys including niche sole-source products for specific OEM customers. Management refused to detail the chemistry on the public forum due to competitive sensitivity. FY27 guidance is Rs 17,000-19,000 per ton (a slight downward revision from Q4 peak to reflect volume recovery prioritization alongside margin). The premium is real but its durability depends on OEM relationship stickiness and customer-specific qualification barriers. The last four reported quarters add to ₹3,290 Cr. FY26 revenue was ₹2,958 Cr, +43.8% on the year before. Recent pace: the last four quarters grew +49.3% on average, against 17.4% 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 +48.5%, against +40.7% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +104.3%, against +86.8% a year (accelerating). FY26-Q4. revenue ₹935 Cr and profit ₹38 Cr as reported. FY27-Q1. revenue ₹935 Cr and profit ₹36 Cr as reported. Why-sources: our stock research file (27 June 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Pondy Oxides & Chemicals keep? Pondy Oxides & Chemicals Ltd's operating margin was 6.0% in the Jun 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between −2.4% and 10.0%. The latest quarter is within that range. Why this happened. Management approved a 36,000 MT copper cathode-anode plant at Rs 200 crore capex funded entirely from internal accruals, with Phase 1 (18,000 MT) planned December 2026 commissioning. At Rs 60,000-70,000 EBITDA per ton vs current recycling at Rs 35,000-40,000, Phase 1 produces 70-100% margin uplift per ton. FY28 goal: 24,000-29,000 total copper volume at blended Rs 60,000 EBITDA per ton. The copper cathode goal is a forward management commitment pending trial production validation, precision flagged by management, scope for downside if trial margins disappoint. Why the margin moved: operating margin changed −0.8 percentage points on the year while gross margin changed −2.1 points. So the drop came mostly from the gross margin, which means input costs and prices charged. FY26-Q4. revenue ₹935 Cr and profit ₹38 Cr as reported. FY27-Q1. revenue ₹935 Cr and profit ₹36 Cr as reported. Why-sources: our stock research file (27 June 2026) and the company’s own results for those quarters. ## Is Pondy Oxides & Chemicals' profit turning into cash? Over the last 3 years Pondy Oxides & Chemicals Ltd's operations used more cash than they brought in, so cash conversion was −27%, a gap worth watching. In FY26 its operations used ₹44.0 Cr of cash, against ₹132 Cr of profit. After ₹31.0 Cr of spending on assets, free cash was −₹75.0 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 −27% of profit came in as cash: the cash cycle stayed about the same between FY13 and FY26, so the cash follows profit, not the cycle. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: the bigger use of cash is spending on new assets, at 2.7× depreciation over three years. The next section checks what that spending is building. ## Where does Pondy Oxides & Chemicals' cash go? Pondy Oxides & Chemicals Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 69 days in FY26, down from 71 days in FY13. It spent ₹150 Cr on assets over the last 3 years. Customers take 33 days to pay, and stock sits for 38 days on average. At FY26 sales of ₹2,958 Cr, each day of that cycle ties up about ₹8.1 Cr, so roughly ₹559 Cr is tied up in the business at any time. FY26: customers took 33 days to pay and stock sat for 38 days, about 1.3 months of sales sitting as stock, for a full cycle of 69 days, shorter than FY13's 71. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 38 days. Customers pay about 33 days after that. Suppliers are paid at 2 days. Together that makes the 69-day cycle. Spending on assets: ₹150 Cr over the last 3 years, against ₹55.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹3.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Pondy Oxides & Chemicals' P/E ratio, and how does it compare with its own history? Pondy Oxides & Chemicals Ltd's P/E is 20.4×, near the low end of its own history: it has been lower only 17% of the time. Its usual P/E (the middle reading) is 37.7×, over 3.4 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 +109.2% while the price moved −30.0%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 3 years the price moved +65.0% a year; about +37.4% a year came from earnings growth and about +27.6 percentage points from the multiple (the market paying more). 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 Pondy Oxides & Chemicals share price assume? Worked out from its price on 27 August 2026, Pondy Oxides & Chemicals Ltd's share price assumed profit growth of about 15.4% a year. Over the past 18 years its profit actually grew 19.9% a year. Today its P/E is 20.4×, lower than 83% of its own last 3.4 years. This is a one-day reading, taken on 27 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 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 Pondy Oxides & Chemicals business getting better or worse? Pondy Oxides & Chemicals Ltd's business is getting better. Profit growth hit its low 8 quarters ago at −39.7% and has recovered to +104.3%, with ROCE rising at 29.1%. This is based on 12 quarters of 4 measures. Why it matters: a lasting rise from a low is what this page is built to show. ## What is the Pondy Oxides & Chemicals story, and has it been checked? Pondy Oxides & Chemicals Ltd's story is not scored yet against the checks our research set on 27 June 2026. Where it sits in its own cycle: Not stated in the research file. Our read, 27 June 2026. What is proven. What would change our mind. If Q1-Q2 FY27 copper recycling volumes come in below 2,000 tons per quarter (signaling cathode feedstock priority cannibalizing recycling rather than supplementing it), or if lead EBITDA per ton drops below Rs 15,000 for two consecutive quarters (indicating the value-added premium is eroding), the core thesis that this is a margin-structural story, not a peak-cycle moment, would require reassessment. Also: if the December 2026 copper cathode Phase 1 commissioning slips beyond Q1 FY28 without…

What the surface reading misses. The surface reading is: Negative OCF signals weak earnings quality, PAT may be accrual-inflated. The research reads it further: OCF is negative primarily because (a) payable days collapsed from 16 (FY14 base) to 2 (FY26) as copper procurement scaled and supplier credit terms shortened, adding ~Rs 100 crore WC drag over the window; (b) FY26 year-end had Rs 128-130 crore export receivable resolved April 5 (concall-confirmed); and (c) revenue expanded 45% requiring proportional inventory and debtors build. The OCF negativity is a growth-WC artifact, not accrual inflation. What the surface reading misses. The surface reading is: 128% PAT growth suggests either extraordinary acceleration or base effect/one-off. The research reads it further: The growth is operational, Jun 2025 PAT Rs 25 crore already represents 92% YoY growth from Rs 13 crore Jun 2024, before any one-off. One-off ledger is clean for all 8 quarters (FY24-FY26). Growth comes from two legs: (1) copper segment scaling from near-zero to Rs 673 crore revenue FY26 (7x volume growth), and (2) lead EBITDA per ton rising 43% YoY as value-added mix improved. Mar 2023 one-off (Rs 37 crore PAT flattered) does not affect FY25 or FY26 comparisons. Sources: our stock research file (27 June 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Pondy Oxides & Chemicals management deliver what it promised? What Pondy Oxides & 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. Plastic Relocation Timeline Shift · 27 May 2026. During the Jan 2026 call, management claimed that the plastic recycling facility had completed its relocation and was actively producing. However, in the May 2026 call, they stated that actual production at this new location did not begin until March. Copper Volume Goals Downscaled · 27 May 2026. In the Jan 2026 call, the company prioritized a minimum copper production goal of 12,000 metric tons for FY27. In the May 2026 call, management reduced this projection for the recycling segment to just 8,000 to 9,000 tons, clarifying that they will now only achieve the 12,000-ton total by including additional output from the newly approved copper cathode plant. Inconsistent Lead EBITDA Guidance · 27 May 2026. In the Oct 2025 call, management confirmed they could sustain the Q2 lead EBITDA margins of approximately 20,000 Indian rupees per ton. However, in the Jan 2026 call, they downgraded their sustainable margin range to 15,000 to 17,500 Indian rupees per ton, which was once again revised upward in the May 2026 call to 17,000 to 19,000 Indian rupees per ton. Lithium Launch Timeline Delay · 29 January 2026. In the October 2025 call, management provided specific guidance aiming for 2027 for full-fledged commercial move into lithium-ion recycling. However, in the January 2026 call, this timeline was pushed back to 2028, with management citing uncertainty regarding feedstock and technology, explicitly stating there are no plans for the next year. Earlier call (Oct 2025): “But our guidance for lithium-ion, we are technically looking at somewhere around 2027 to be entering full-fledged into lithium-ion.” Later call (Jan 2026): “We foresee improving by 2028. We will take a call on it later... nothing for next year [FY27].”

Every quote above is taken word for word from the company’s own earnings calls. ## What is Pondy Oxides & Chemicals management's track record? Delivers at scale, precision wobbles, a guidance-redefinition pattern, not a missed-delivery pattern. ### Regulatory and governance record

No SEBI/CBI/ED action; clean SEBI compliance certificate filed for January to March 2026. 0% Promoter shares pledged

Sources:

- [markets.ft.com](https://markets.ft.com)
- [scanx.trade](https://www.scanx.trade)
- [screener.in](https://www.screener.in)

(Checked 21 July 2026.)

## How much does Pondy Oxides & Chemicals earn on its capital? Pondy Oxides & Chemicals Ltd earned a ROCE of 23% in FY26. That is up from a low of −6% in FY09. Its return on capital used (ROIC) is 3.8 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 4.5% net margin and 3.01× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 4.5% net margin × 3.01× asset turnover × 1.25× leverage (assets divided by equity) ≈ 16.9% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 15.8% − 12.0% = +3.8 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 15.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 17.1%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Pondy Oxides & Chemicals have too much debt? Pondy Oxides & Chemicals Ltd has total debt of ₹152 Cr against shareholder equity of ₹788 Cr as of Jun 2026, so its debt is 0.19× its equity, which is very little. Year by year, that ratio went from 0.51 in FY22 to 0.19 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Pondy Oxides & Chemicals shareholding pattern? Domestic institutions raised their stake in Pondy Oxides & Chemicals Ltd by 9.5 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 9.6% of the company. Promoters moved −7.4 points over the same period, to 36.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +9.5 points over 8 quarters, to 9.6%; Promoters: −7.4 points over 8 quarters, to 36.4%; Foreign institutions: +3.0 points over 8 quarters, to 3.2%. Why the owners changed: domestic institutions drove it (+9.5 points), with the other side taken by promoters (−7.4 points). They raised their stake step by step. ## How far is Pondy Oxides & Chemicals from balance-sheet trouble? For Pondy Oxides & 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 Pondy Oxides & Chemicals rank in its industry? 52.2 out of 100, rank 3 of 9 in Recycling, with 96% of the evidence available. Pondy Oxides & Chemicals Ltd scores 52.2 out of 100 against the 9 companies it is compared with in Recycling, ranking 3. Earnings are strong; relative strength in its sector is -20.2% and the one-year return is -27.6%. The four parts add up to the total exactly: 26 + 15.8 + 9.3 + 1.1 = 52.2. 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 Pondy Oxides & Chemicals compared with? Pondy Oxides & Chemicals ranks 3 of 9 Recycling companies on the 4-Factor Sector Score, with 52.2 out of 100. 1. [Bhagyanagar India Ltd](https://www.sectoralpha.in/stocks/bhagyanagar-india-ltd) BHAGYANGR · Most evidence points up · 69% evidence 72.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 37.0/43.75 · Revenue 49.1% · Profit 100% · Operating margin change 1.7 points · 88% evidence Capital efficiency 16.1/31.25 · ROCE 20.2% · Operating margin 5% · 100% evidence Valuation 19.6/25 · P/E 2.3× · PEG 0.22 · 65% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 37 + 16.1 + 19.6 = 72.7 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 2. [NILE Ltd](https://www.sectoralpha.in/stocks/nile-ltd) NILE · Evidence leans up · 76% evidence 52.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.9/43.75 · Revenue 17% · Profit 12.1% · Operating margin change -5.3 points · 88% evidence Capital efficiency 17.1/31.25 · ROCE 25.3% · Operating margin 3.8% · 100% evidence Valuation 19.5/25 · P/E 9.6× · PEG 0.18 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 15.9 + 17.1 + 19.5 = 52.5 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 3. Pondy Oxides & Chemicals Ltd this page POCL · basing · Evidence leans up · 96% evidence 52.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.0/35 · Revenue 48.5% · Profit 100% · Operating margin change -1 points · 88% evidence Capital efficiency 15.8/25 · ROCE 23.4% · Operating margin 6% · 100% evidence Valuation 9.3/20 · P/E 21.2× · PEG 2.57 · 100% evidence Relative strength 1.1/20 · Lead over its industry -20.2% · Lead over NIFTY 500 -17% · 1 year -27.6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 26 + 15.8 + 9.3 + 1.1 = 52.2 · What this means: Earnings are strong; relative strength in its sector is -20.2% and the one-year return is -27.6%. 4. [Eco Recycling Ltd](https://www.sectoralpha.in/stocks/eco-recycling-ltd) ECORECO · quiet · Evidence leans up · 63% evidence 52.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.8/35 · Revenue 31.9% · Profit 3.2% · Operating margin change 1.5 points · 83% evidence Capital efficiency 19.4/25 · ROCE 30.8% · Operating margin 56.3% · 76% evidence Valuation 9.7/20 · P/E 32.8× · PEG n/a · 50% evidence Relative strength 10.1/20 · Lead over its industry n/a · Lead over NIFTY 500 -2.7% · 1 year -32.4% · 25% evidence · 0 of 5 weeks ahead Exact sum: 12.8 + 19.4 + 9.7 + 10.1 = 52 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Jain Resource Recycling Ltd](https://www.sectoralpha.in/stocks/jain-resource-recycling-ltd) JAINREC · basing · Evidence leans down · 83% evidence 48.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.4/35 · Revenue 65.3% · Profit 62.2% · Operating margin change -2 points · 88% evidence Capital efficiency 15.0/25 · ROCE 25.7% · Operating margin 4% · 100% evidence Valuation 9.2/20 · P/E 25.6× · PEG 1.83 · 65% evidence Relative strength 3.5/20 · Lead over its industry -27.8% · Lead over NIFTY 500 -24.3% · 1 year -30.1% · 70% evidence · 0 of 12 weeks ahead Exact sum: 20.4 + 15 + 9.2 + 3.5 = 48.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Ganesha Ecosphere Ltd](https://www.sectoralpha.in/stocks/ganesha-ecosphere-ltd) GANECOS · quiet · Evidence leans down · 76% evidence 47.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.0/35 · Revenue 19.1% · Profit 30.8% · Operating margin change 6 points · 74% evidence Capital efficiency 8.5/25 · ROCE 5.6% · Operating margin 12% · 100% evidence Valuation 10.0/20 · P/E 31.5× · PEG 0.43 · 100% evidence Relative strength 12.0/20 · Lead over its industry n/a · Lead over NIFTY 500 10.9% · 1 year -18.1% · 25% evidence · 6 of 12 weeks ahead Exact sum: 17 + 8.5 + 10 + 12 = 47.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Antony Waste Handling Cell Ltd](https://www.sectoralpha.in/stocks/antony-waste-handling-cell-ltd) AWHCL · quiet · Evidence leans down · 63% evidence 40.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.8/35 · Revenue 11.8% · Profit -32% · Operating margin change -8 points · 83% evidence Capital efficiency 10.7/25 · ROCE 11.2% · Operating margin 14.3% · 76% evidence Valuation 12.5/20 · P/E 13.4× · PEG n/a · 50% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -35.3% · 1 year -49.2% · 25% evidence · 0 of 12 weeks ahead Exact sum: 9.8 + 10.7 + 12.5 + 7.5 = 40.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Gravita India Ltd](https://www.sectoralpha.in/stocks/gravita-india-ltd) GRAVITA · basing · Evidence leans down · 100% evidence 39.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.5/35 · Revenue 23.9% · Profit 9.7% · Operating margin change -1 points · 100% evidence Capital efficiency 11.7/25 · ROCE 16.2% · Operating margin 9% · 100% evidence Valuation 6.0/20 · P/E 25.7× · PEG 1.99 · 100% evidence Relative strength 6.4/20 · Lead over its industry -14.6% · Lead over NIFTY 500 -11.2% · 1 year -16.7% · 100% evidence · 3 of 12 weeks ahead Exact sum: 15.5 + 11.7 + 6 + 6.4 = 39.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Namo eWaste Management Ltd](https://www.sectoralpha.in/stocks/namo-ewaste-management-ltd) NAMOEWASTE · leader · Too little evidence to rank firmly · 47% evidence 62.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.4/35 · Revenue n/a · Profit n/a · Operating margin change 3 points · 15% evidence Capital efficiency 14.9/25 · ROCE 21.3% · Operating margin 11% · 75% evidence Valuation 8.5/20 · P/E 54.2× · PEG n/a · 15% evidence Relative strength 20.0/20 · Lead over its industry 52% · Lead over NIFTY 500 55.4% · 1 year 85.5% · 100% evidence · 11 of 12 weeks ahead Exact sum: 19.4 + 14.9 + 8.5 + 20 = 62.8 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 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: [Recycling](https://www.sectoralpha.in/sectors/recycling), all 9 compared on one page. ## Which companies are close to Pondy Oxides & Chemicals in size? Pondy Oxides & Chemicals is the 3rd largest of 9 Recycling companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Gravita India and Jain Resource Recycling. Just below it: Ganesha Ecosphere, Eco Recycling, Antony Waste Handling Cell and Namo eWaste Management. ### Recycling companies close in size

1. [Gravita India Ltd](https://www.sectoralpha.in/stocks/gravita-india-ltd) ₹10,244 crore
2. [Jain Resource Recycling Ltd](https://www.sectoralpha.in/stocks/jain-resource-recycling-ltd) ₹9,317 crore
3. Pondy Oxides & Chemicals Ltd ₹3,033 crore
4. [Ganesha Ecosphere Ltd](https://www.sectoralpha.in/stocks/ganesha-ecosphere-ltd) ₹2,678 crore
5. [Eco Recycling Ltd](https://www.sectoralpha.in/stocks/eco-recycling-ltd) ₹789 crore
6. [Antony Waste Handling Cell Ltd](https://www.sectoralpha.in/stocks/antony-waste-handling-cell-ltd) ₹785 crore
7. [Namo eWaste Management Ltd](https://www.sectoralpha.in/stocks/namo-ewaste-management-ltd) ₹778 crore

[All 9 Recycling companies, largest first](https://www.sectoralpha.in/sectors/recycling#all-companies)

### Companies close in size in other industries

1. [Jash Engineering Ltd](https://www.sectoralpha.in/stocks/jash-engineering-ltd) ₹3,053 crore · Water Treatment
2. [JTEKT India Ltd](https://www.sectoralpha.in/stocks/jtekt-india-ltd) ₹3,042 crore · Auto Ancillaries - Gears
3. Pondy Oxides & Chemicals Ltd ₹3,033 crore
4. [Ratnaveer Precision Engineering Ltd](https://www.sectoralpha.in/stocks/ratnaveer-precision-engineering-ltd) ₹3,023 crore · Stainless Steel
5. [Gopal Snacks Ltd](https://www.sectoralpha.in/stocks/gopal-snacks-ltd) ₹3,018 crore · FMCG - Snacks

## What else do people ask about Pondy Oxides & Chemicals? ### What is Pondy Oxides & Chemicals's share price today? Pondy Oxides & Chemicals Ltd's share price is ₹384.00, −30.0% over the past year. The whole company is worth ₹2,926 Cr on the market. It is at its lowest price of the past 52 weeks (range ₹384 to ₹617), 20.3% below its 200-day average. The price has been falling for 5 weeks (as of 3 November 2026). ### What were Pondy Oxides & Chemicals's latest quarterly results? Pondy Oxides & Chemicals Ltd reported revenue of ₹935 Cr and net profit of ₹36.0 Cr for the Jun 2026 quarter. Revenue rose 55.1% and profit rose 44.0% compared with a year earlier. Earnings per share were ₹4.70 (as of 3 November 2026). ### What is Pondy Oxides & Chemicals's market cap? Pondy Oxides & Chemicals Ltd's market capitalisation is ₹2,926 Cr at a share price of ₹384.00. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Pondy Oxides & Chemicals performing? Pondy Oxides & Chemicals Ltd's share price has been falling for 5 weeks. In its latest quarter, revenue rose 55.1% and profit rose 44.0% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 15 weeks running (as of 3 November 2026). ### Will Pondy Oxides & Chemicals's share price go up? This page does not forecast Pondy Oxides & Chemicals Ltd's share price. What it shows instead: the share price is ₹384.00, and it has been falling for 5 weeks. Its P/E of 20.4× is higher than 17% of its own last 3 years (as of 3 November 2026). ### Where is Pondy Oxides & Chemicals in its business cycle? Pondy Oxides & Chemicals Ltd's FY26 operating margin was 7.0%, against a 13-year range of −2.4% to 10.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 6.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Pondy Oxides & Chemicals story? The main question: profits are rising, but only −27% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. 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 3 November 2026). ### Is Pondy Oxides & Chemicals a stock worth studying right now? What the numbers show: Pondy Oxides & Chemicals Ltd's earnings have grown faster than its share price. Earnings per share grew +109.2% in a year while the price moved −30.0%. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Pondy Oxides & Chemicals share price forecast for 2026? What management itself guided: Lead volumes FY27: 125,000-130,000 tons (15 percent growth from 107,727 MT FY26) What would change the story: If Q1-July to September 2026 copper recycling volumes come in below 2,000 tons per quarter (signaling cathode feedstock priority cannibalizing recycling rather than supplementing it). Or if lead operating profit per ton drops below ₹15,000 for two consecutive quarters (indicating the value-added premium is eroding), the core thesis that this is a margin-structural story, not a peak-cycle moment, would require reassessment. ### Where does this page get Pondy Oxides & Chemicals' management information? From Pondy Oxides & 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. This is research, not advice. We’re not SEBI-registered.