Valiant Organics share price today

Valiant Organics Ltd's share price was ₹433.70 at the close on 4 November 2026. It has been rising for 9 weeks. That is 30.8% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹208 and ₹478, and at that close it sat 84% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Valiant Organics Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 11 weeks in a row.

Over the last 10 years the share price moved +229% while the NIFTY 500 moved +192%, so it is ahead of the index over that whole period. 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.

Three changes stood out: best operating margin in 13 quarters, highest quarterly profit in 13 quarters and highest quarterly revenue in 13 quarters.

1. Best operating margin in 13 quarters

   Operating margin was 18% in the June 2026 quarter, against 12% a year earlier.

2. Highest quarterly profit in 13 quarters

   Profit of ₹29 crore in the June 2026 quarter is the highest of the last 13 quarters.

3. Highest quarterly revenue in 13 quarters

   Revenue of ₹232 crore in the June 2026 quarter is the highest of the last 13 quarters.

For April to June 2026 (the quarter ended 30 June 2026), Valiant Organics reported revenue of ₹232 crore, up 13.7% from ₹204 crore a year earlier, and a profit of ₹29.0 crore, up 262.5% from ₹8.00 crore.

Valiant Organics results: April to June 2026 against a year earlier

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 10 November 2023, about July to September 2023; 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.

Valiant Organics closed at ₹433.70 on 4 November 2026, up 45.4% from ₹298.35 a year earlier (7 November 2025) and down 67.4% over five years. Its highest weekly close since October 2016 was ₹1,844.95 on 6 November 2020.

Valiant Organics share price: then and now

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 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

534 weekly closes from 14 October 2016 to 4 November 2026.

4 Nov 2026: Valiant Organics closed at ₹433.70, up 3.3% on the week and down 9.3% on the month. Our read, 10 Oct 2026: A chemical intermediates maker that lost two-thirds of its profit to Chinese dumping is printing its first full-utilization-style quarter on a plant base it no longer has to build - real operating leverage, one quarter old, with a guidance record that demands proof.

Earlier

• Results for April to June 2026: Revenue up 13.7% and profit up 262.5% on a year earlier.
• 10 Nov 2023: Valiant Organics held its results call for July to September 2023.

Our read of the business

June 2026 quarter: revenue ₹232 crore (+13.7%), operating profit ₹42 crore (+68%), operating margin 18%, profit ₹29 crore - core pre-tax profit excluding other income tripled to ₹26 crore.,The plants were built in FY20-FY23 and capital spending has run at maintenance level for three years, so extra volume drops straight to profit; gross margin rose to about 42% on a raw-material spread.,Against it: revenue is still 36% below FY22, other income was 30% of pre-tax profit, every dated 2023 promise was missed, and the free cash went into a loss-making associate rather than debt.

Latest quarter: Operating profit ₹42 crore at an 18% margin - the first quarter that looks like a working business.

Our read after the latest results, written 10 October 2026.

Valiant Organics paid no dividend in the 12 months to 5 November 2026. The last was an interim dividend of ₹1 a share, ex-date 10 February 2023.

Valiant Organics dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Not in its latest year. Valiant Organics Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 10 of its last 13 reported years, so there is a history but no current dividend.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2023, held on 10 November 2023, Valiant Organics' management spoke about the quarter; the main points are below.

Source: the call transcript.

From the call for July to September 2023, 10 November 2023. The April to June 2026 results are out since, so this part may be out of date until we update it.

What is changing at Valiant Organics, from the latest results and calls: operating leverage on a finished, underused plant base, raw-material spread widening (gross margin 35% to about 42%) and lower interest cost.

• Operating leverage on a finished, underused plant base. Revenue up ₹28 crore year on year in the June quarter lifted operating profit ₹17 crore - fixed costs were paid for in FY20-FY23 and capital spending now runs near maintenance level. ⚠ estimate
• Raw-material spread widening (gross margin 35% to about 42%). Gross margin has run 38-45% for five quarters versus 35% in March 2025, while management describes the period as one of pricing pressure - a spread gain on lower inputs. ⚠ estimate
• Lower interest cost. Quarterly interest fell from ₹8 crore (September 2024) to ₹3-5 crore, and nine-month finance cost fell 22%, even though total borrowings stayed near ₹256 crore. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 10 October 2026.

The September 2026 quarter printing operating profit below ₹30 crore or an operating margin below 14% on revenue under ₹200 crore - that would mark June 2026 as a one-quarter spread spike, not a turn.

Each change stops working if

• Operating leverage on a finished, underused plant base: Quarterly revenue falls back below ₹180 crore, as it did in September and December 2025, which pulled the operating margin to 8-13%.
• Raw-material spread widening (gross margin 35% to about 42%): Gross margin drops below 38% for a quarter, which would show input prices catching up with realised prices.

The main risks

• One-quarter spike - persistence unproven: Profit by quarter since September 2025 was ₹6, 4, 16 and 29 crore; the latest is 3.6 times the prior median and 30% of its pre-tax profit was other income of unknown source. ⚠ estimate
• Guidance credibility - every dated 2023 promise missed: FY24 revenue guidance went from ₹1,200 crore to ₹800-850 crore to the lower end of ₹800 crore in six months, and FY24 printed ₹723 crore at a 5% margin; the FY25 revival and FY26 term-loan repayment also slipped. ⚠ estimate
• Chinese dumping and weak agrochemical and dye demand return: In 2023 Chinese dumping cut prices 25-30% and volumes about 30% in the company's main chemistries; nothing in our corpus says that pressure has ended. ✓ fact
• Receivables build: Debtor days rose from 90 to 120 in FY26 while payable days fell from 119 to 102, widening the cash cycle from 42 to 96 days. ⚠ estimate

Our read after the latest results, written 10 October 2026.

When Valiant Organics reports July to September 2026, these are the 5 checks that show whether the story is still on course. First: September 2026 quarter operating profit (needs ₹30 crore or more) and other income (should be under 20% of pre-tax profit)

Valiant Organics is on 3 of our India lists: Multibagger study list, Undervalued stocks and Momentum stocks.

Valiant Organics Ltd earned ₹29.0 Cr of net profit in the Jun 2026 quarter, +262.5% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹33.0 Cr. Over 10 years profit has grown 12.7% a year on average. That is 12.5% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹8.0 Cr. 4 of the last 12 reported quarters were loss-making.

Why profit moved: revenue changed +13.7% on a year earlier and the margin moved +6.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +180.8% and revenue +0.9%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Valiant Organics Ltd reported ₹232 Cr of revenue in the Jun 2026 quarter, +13.7% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 10 years it has grown 30.4% a year on average. The last full year, FY26, came in at ₹739 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. The input-cost pass-through test says this is a spread, not pricing power: nine-month gross margin rose to 43% from 38% while revenue was flat and the third quarter saw pricing pressure and soft demand. The supply side that hurt in 2023 - Chinese dumping that cut prices 25-30% - has not been reported as reversed in our corpus, so the capital-cycle consolidation model cannot be claimed. The gain is real in the numbers and is the second reason operating margin rose, but it can reverse when benzene and chlorine-chain inputs turn.

The last four reported quarters add to ₹766 Cr.

FY26 revenue was ₹739 Cr, +2.8% on the year before.

Recent pace: the last four quarters grew +0.9% on average, against 30.4% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +1.5%, against +5.4% a year over the last 8 quarters (rolling over).

Valiant Organics Ltd's operating margin was 18.0% in the Jun 2026 quarter, 6.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 5.0% and 30.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. This is the operating-leverage catapult in its textbook setting: utilization was 55-60% in late 2023, fixed assets had grown from Rs 276 crore to about Rs 695 crore, and work in progress has fallen from Rs 86 crore to Rs 21 crore, so the capex inflection point has passed. When revenue reached Rs 218-232 crore in the March and June 2026 quarters, operating margin moved to 12% and then 18%. Who keeps the benefit: the company, as long as rivals (mainly Chinese exporters) do not cut prices again. Benefit delivered: one quarter at an 18% margin. Benefit remaining: revenue is still 36% below FY22, so there is room if demand returns, but there is no company guidance on volumes after 2023. The…

Why the margin moved: operating margin changed +5.8 percentage points on the year while gross margin changed +3.8 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 113% of Valiant Organics Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹92.0 Cr of operating cash against ₹33.0 Cr of profit. After ₹33.0 Cr of spending on assets, ₹59.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 113% of profit came in as cash: the cash cycle got 51 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets.

Valiant Organics Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 96 days in FY26, up from 45 days in FY21. It spent ₹86.0 Cr on assets over the last 3 years. Customers take 120 days to pay, and stock sits for 77 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹739 Cr, each day of that cycle ties up about ₹2.0 Cr, so roughly ₹194 Cr is tied up in the business at any time.

FY26: customers took 120 days to pay and stock sat for 77 days, about 2.5 months of sales sitting as stock, for a full cycle of 96 days, longer than FY21's 45.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 77 days. Customers pay about 120 days after that. Suppliers are paid at 102 days. Together that makes the 96-day cycle.

Spending on assets: ₹86.0 Cr over the last 3 years, against ₹111 Cr of depreciation (the yearly wear and tear on existing assets). So it is spending about what it takes to replace what wears out, or less. Work still in progress is ₹21.0 Cr (FY26): assets paid for that are not earning yet.

In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean.

Valiant Organics Ltd's P/E is 24.1×, in the middle of its own history: higher than 55% of past readings. Its usual P/E (the middle reading) is 21.9×, over 7.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹19.29.