Black Rose Industries Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹493 Cr
- P/E
- 17.19
- ROE
- 13.61%
- PEG
- 0.42
- Price to sales
- 1.40
- Debt to equity
- 0.01
- 52W high / low
- ₹126 / ₹63.7
- Sales growth (5Y)
- -3.19%
- EBITDA margin
- 11.68%
- Net profit margin
- 6.79%
- Promoter holding
- 75.00%
- Sales (last year)
- ₹352 Cr
Incorporated in 1990, Black Rose Industries Ltd manufactures and distributes chemicals[1]
Guidance scorecard · Q4 FY26 call
What Black Rose Industries Ltd's management guided
and where it ranks in Chemicals & Petrochemicals
Chemicals & Petrochemicals
RevenueQ4 FY26 call
10–20%- The company targets sustained growth in volumes and revenues through both distribution and manufacturing.
- New product additions in both segments are expected to drive topline growth.
- Capacity expansions and commercialization of pipeline projects (e.g., PAM solid) will add to volumes and revenues in FY27 and FY28.
- Export demand, particularly for acrylamide products, is picking up with registrations like REACH and KKDIK aiding market penetration.
- Market uncertainties remain, but the company is optimistic about increased utilization and sales despite global challenges.
- Initiatives to increase export sales, which generally have better profitability, are underway.
2 more points from Black Rose Industries Ltd's call on revenue
Create a free account to keep reading this call
MarginsQ4 FY26 call
FlatSee what Black Rose Industries Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- PAM solid project has advanced to the piloting stage with commercialization expected during FY26.
- Specialty amines project is progressing as planned in collaboration with Koei Chemicals Company, with a decision anticipated during the current year.
- The company’s R&D team, based at the new laboratory in Navi Mumbai, is focused on new innovations and developing downstream acrylamide products to expand the manufacturing portfolio.
- Strategic shift away from ceramic binder business to focus on strengthening upstream acrylamide and higher-value applications.
2 more points from Black Rose Industries Ltd's call on capex
Create a free account to keep reading this call
FundraisingQ4 FY26 call
See what Black Rose Industries Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- There is a "strong order pipeline" in merchant exports expected to convert into healthy performance in Q1 FY27.
- The company is focusing on new product additions and expanding its customer base to drive revenue growth.
- Export demand for acrylamide products has started to pick up in the second half of the current quarter.
2 more points from Black Rose Industries Ltd's call on the order book
Create a free account to keep reading this call
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Chemicals & Petrochemicals companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹263 Cr | 3.4 | |
| 2 | 40%+ | Flat | ₹4,375 Cr | 83.7 | |
| 3 | 40%+ | Flat | ₹3,259 Cr | 4.0 | |
| 4 | 40%+ | Flat | ₹145 Cr | 15.9 | |
| 5 | 20–40% | Up 2%+ | ₹1.81L Cr | 90.9 | |
| 6 | 20–40% | Up 2%+ | ₹48,366 Cr | 78.3 |
Sign up free to see every company in the sector ranking and track Black Rose Industries Ltd.
Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals rankingFinancials of Black Rose Industries Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Black Rose Industries Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 111.17 | 87.62 | 83.86 | 93.62 | 115.36 | 98.27 | 93.05 | 87.70 | 82.89 | 59.85 | 83.98 | 75.15 | 104.04 |
| Expenses + | 108.13 | 81.99 | 75.87 | 86.34 | 108.20 | 92.09 | 86.44 | 79.62 | 74.36 | 53.99 | 76.77 | 68.62 | 91.01 |
| Operating Profit | 3.04 | 5.63 | 7.99 | 7.28 | 7.16 | 6.18 | 6.61 | 8.08 | 8.53 | 5.86 | 7.21 | 6.53 | 13.03 |
| OPM % | 2.73% | 6.43% | 9.53% | 7.78% | 6.21% | 6.29% | 7.10% | 9.21% | 10.29% | 9.79% | 8.59% | 8.69% | 12.52% |
| Other Income + | 0.79 | 0.74 | 1.09 | 1.09 | 1.67 | 1.04 | 0.88 | 0.74 | 0.43 | 0.99 | 0.33 | 0.70 | 0.73 |
| Interest | 0.48 | 0.19 | 0.25 | 0.19 | 0.44 | 0.07 | 0.23 | 0.30 | 0.39 | 0.21 | 0.51 | 0.31 | 0.44 |
| Depreciation | 0.79 | 0.76 | 0.73 | 0.77 | 0.75 | 0.78 | 0.79 | 0.79 | 0.78 | 0.90 | 0.95 | 0.99 | 1.04 |
| Profit before tax | 2.56 | 5.42 | 8.10 | 7.41 | 7.64 | 6.37 | 6.47 | 7.73 | 7.79 | 5.74 | 6.08 | 5.93 | 12.28 |
| Tax % | 29.30% | 25.28% | 25.43% | 26.59% | 25.52% | 25.90% | 27.20% | 26.13% | 25.29% | 27.00% | 27.30% | 25.97% | 23.45% |
| Net Profit + | 1.81 | 4.05 | 6.04 | 5.44 | 5.70 | 4.72 | 4.71 | 5.70 | 5.81 | 4.19 | 4.43 | 4.40 | 9.41 |
| EPS in Rs | 0.35 | 0.79 | 1.18 | 1.07 | 1.12 | 0.93 | 0.92 | 1.12 | 1.14 | 0.82 | 0.87 | 0.86 | 1.85 |
Financials of Black Rose Industries Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 196 | 177 | 242 | 298 | 309 | 373 | 380 | 488 | 430 | 380 | 391 | 323 |
| Expenses + | 189 | 168 | 227 | 276 | 284 | 340 | 339 | 442 | 416 | 352 | 362 | 290 |
| Operating Profit | 7 | 10 | 15 | 22 | 24 | 33 | 40 | 46 | 14 | 28 | 29 | 33 |
| OPM % | 3% | 5% | 6% | 7% | 8% | 9% | 11% | 9% | 3% | 7% | 8% | 10% |
| Other Income + | 1 | 1 | 1 | 1 | 1 | -0 | 1 | 1 | 2 | 5 | 3 | 3 |
| Interest | 5 | 5 | 5 | 4 | 4 | 3 | 2 | 1 | 2 | 1 | 1 | 1 |
| Depreciation | 3 | 3 | 3 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 4 |
| Profit before tax | -1 | 2 | 8 | 16 | 19 | 27 | 37 | 43 | 11 | 29 | 28 | 30 |
| Tax % | -177% | 35% | 34% | 27% | 28% | 24% | 25% | 26% | 28% | 26% | 26% | 25% |
| Net Profit + | 1 | 2 | 5 | 12 | 14 | 21 | 27 | 32 | 8 | 21 | 21 | 22 |
| EPS in Rs | 0.10 | 0.32 | 0.98 | 2.30 | 2.72 | 4.05 | 5.38 | 6.25 | 1.55 | 4.16 | 4.11 | 4.40 |
| Dividend Payout % | 0% | 0% | 10% | 7% | 11% | 9% | 8% | 12% | 35% | 16% | 77% | 0% |
Financials of Black Rose Industries Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | 14 | 16 | 20 | 30 | 43 | 62 | 88 | 117 | 122 | 140 | 148 | 164 |
| Borrowings + | 42 | 42 | 42 | 35 | 30 | 23 | 17 | 14 | 5 | 4 | 11 | 1 |
| Other Liabilities + | 30 | 22 | 42 | 34 | 31 | 51 | 37 | 40 | 30 | 43 | 50 | 37 |
| Total Liabilities | 92 | 84 | 109 | 105 | 109 | 141 | 147 | 176 | 162 | 193 | 214 | 208 |
| Fixed Assets + | 41 | 38 | 36 | 34 | 33 | 37 | 35 | 37 | 40 | 41 | 39 | 50 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 2 | 7 | 8 | 8 | 7 | 9 | 2 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 0 | 20 |
| Other Assets + | 51 | 46 | 73 | 71 | 76 | 102 | 105 | 130 | 114 | 132 | 166 | 135 |
| Total Assets | 92 | 84 | 109 | 105 | 109 | 141 | 147 | 176 | 162 | 193 | 214 | 208 |
Financials of Black Rose Industries Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 1 | 6 | 7 | 12 | 11 | 17 | 10 | 15 | 23 | 17 | -13 | 45 |
| Cash from Investing Activity + | -1 | -0 | -0 | -0 | -0 | -7 | -5 | -6 | -12 | -10 | 12 | -26 |
| Cash from Financing Activity + | 1 | -6 | -4 | -11 | -9 | -9 | -5 | -4 | -11 | -5 | -8 | -18 |
| Net Cash Flow | -0 | 0 | 2 | 1 | 2 | 2 | -0 | 5 | 0 | 2 | -9 | 1 |
| Free Cash Flow | -1 | 5 | 6 | 11 | 10 | 10 | 10 | 15 | 17 | 14 | -16 | 38 |
| CFO/OP | 9% | 60% | 53% | 74% | 72% | 72% | 43% | 60% | 175% | 86% | -20% | 159% |
Financials of Black Rose Industries Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 52 | 47 | 52 | 42 | 33 | 47 | 42 | 50 | 50 | 64 | 63 | 79 |
| Inventory Days | 32 | 35 | 43 | 37 | 46 | 45 | 53 | 41 | 28 | 44 | 81 | 69 |
| Days Payable | 57 | 41 | 59 | 38 | 34 | 52 | 34 | 28 | 20 | 40 | 45 | 36 |
| Cash Conversion Cycle | 28 | 41 | 37 | 41 | 45 | 40 | 61 | 63 | 58 | 69 | 99 | 112 |
| Working Capital Days | -3 | 4 | 11 | 16 | 28 | 29 | 48 | 53 | 54 | 67 | 93 | 124 |
| ROCE % | 8% | 12% | 19% | 29% | 31% | 38% | 38% | 36% | 10% | 21% | 19% | 19% |
Guidance history
How Black Rose Industries Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q4 FY25 call → | 10–20% | Flat | Planned | Planned | — |
| Q3 FY25 call → | 10–20% | Up 2%+ | Planned | Planned | — |
| Q2 FY25 call → | 10–20% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
28 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −13.6% | 39% |
| Last 6 months | +21.5% | 70% |
| Last 3 months | +2.2% | 62% |
The price is 54.9% below its all-time high of ₹224.6 (7 Jan 2022). Stocks more than 20% below their peak have their score halved, so 56 became 28.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Black Rose Industries Ltd: 0.4 × 39 + 0.4 × 70 + 0.2 × 62 = 56, halved to 28 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 16 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Black Rose Industries Ltd's management said in earlier quarters
- Q3 FY20 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q4 FY23 earnings call →
- Q4 FY21 earnings call →
Others in Chemicals & Petrochemicals this season
- Neogen Chemicals Ltd (Q2 FY27)
Consolidated: ₹295.96 crore (up from ₹208.66 crore in Q3 FY25) . Key results statement takeaways from Neogen Chemicals Ltd's Q2 FY27 results statement — and how
- Mahickra Chemicals Ltd (Q2 FY27)
682 million, a 34% year-on-year increase. Key results statement takeaways from Mahickra Chemicals Ltd's Q2 FY27 results statement — and how it ranks against sec
- Vishnu Chemicals Ltd (Q2 FY27)
2,837.7 lakhs increase (~7.07% growth YoY). Key results statement takeaways from Vishnu Chemicals Ltd's Q2 FY27 results statement — and how it ranks against sec
- Yasons Chemex (Q2 FY27)
4,927.35 lakhs for the same period in 2025, indicating a year-on-year decline of about 16.3% (Page 12). Key results statement takeaways from Yasons Chemex Care