Vishnu Chemicals Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹3,892 Cr
- P/E
- 26.01
- ROE
- 14.26%
- PEG
- 12.38
- Price to sales
- 2.30
- Debt to equity
- 0.49
- 52W high / low
- ₹732 / ₹477
- Sales growth (5Y)
- 18.85%
- EBITDA margin
- 15.45%
- Net profit margin
- 8.84%
- Promoter holding
- 69.21%
- Sales (last year)
- ₹1,696 Cr
Incorporated in 1989, Vishnu Chemicals Limited is in the business of manufacturing, marketing and export of Chromium chemicals and Barium compounds across the world. Located in Hyderabad, the company is serving more than 12 industries across 57 countries globally.
Guidance scorecard · Q1 FY27 call
What Vishnu Chemicals Ltd's management guided
and where it ranks in Chemicals & Petrochemicals
Chemicals & Petrochemicals
RevenueQ1 FY27 call
10–20%- Revenue growth driven by both volume increases and value/realization improvements (Q1 FY27 saw ~25% YoY growth).
- Focus on growing specialty chemicals like DMSO with capex of over INR 200 crores underway.
- Expanding backward integration in barium business to improve raw material security and product quality.
- Scaling up production in strontium business aiming to increase capacity utilization from 50% to 65-75% by year-end.
- Strategic shift toward higher value-added chromium derivatives (like Chromic Acid, Chrome Oxide Green) to improve product mix.
- South Africa mine operations expected to start contributing in H2 FY27, improving competitiveness and gross margins.
- Domestic sales emphasis planned to offset higher logistics costs in near term.
2 more points from Vishnu Chemicals Ltd's call on revenue
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MarginsQ1 FY27 call
Up 2%+See what Vishnu Chemicals Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Total capex planned is close to INR360 crores.
- Over INR200 crores is dedicated to Dimethyl Sulfoxide (DMSO), an import replacement solvent for pharma and agro industries.
- Significant investment (~INR350 crores) to enhance Chrome Oxide Green production at Vizag plant, utilizing more Sodium Dichromate.
- Additional marginal capex planned for mine improvements.
- Past capex (~INR240-250 crores) focused on Chrome Oxide Green expansion and DMSO.
- Solar power capacity expansion: investing INR5-6 crores to increase solar from 5 MW to 20 MW, aiming for power cost reduction.
- Backward integration in barium business with capex close to INR40 crores.
2 more points from Vishnu Chemicals Ltd's call on capex
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FundraisingQ1 FY27 call
See what Vishnu Chemicals Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- Vishnu Chemicals has secured a strategic, long-term binding supply agreement for Chrome Oxide Green with fixed volumes set for the next 10 years, providing visibility and stability compared to spot quarterly sales.
- The company is working on increasing volumes in the export market, as mentioned in recent communications.
- Production from the South Africa mine is expected to commence by the second half of FY27, which will contribute to future order fulfillment and margin improvements.
2 more points from Vishnu Chemicals Ltd's call on the order book
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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
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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 |
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Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals rankingVishnu Chemicals Ltd announcements
All announcements →- Acquisition / mergerNotableVishnu Chemicals enters 50:50 JV with DCX Chrome SAS to produce chromium metal
Financials of Vishnu Chemicals Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Vishnu Chemicals Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 325 | 336 | 301 | 308 | 304 | 300 | 339 | 344 | 371 | 393 | 347 | 401 | 411 |
| Expenses + | 273 | 275 | 250 | 262 | 263 | 237 | 283 | 299 | 308 | 329 | 291 | 343 | 350 |
| Operating Profit | 52 | 61 | 51 | 46 | 41 | 64 | 56 | 45 | 64 | 64 | 56 | 58 | 62 |
| OPM % | 16% | 18% | 17% | 15% | 13% | 21% | 16% | 13% | 17% | 16% | 16% | 15% | 15% |
| Other Income + | 6 | 3 | 2 | 3 | 4 | 3 | 3 | 4 | 3 | 6 | 5 | 9 | 6 |
| Interest | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 10 | 10 | 8 | 8 | 12 | 14 |
| Depreciation | 7 | 7 | 7 | 9 | 9 | 9 | 9 | 9 | 12 | 8 | 10 | 10 | 11 |
| Profit before tax | 42 | 49 | 37 | 31 | 27 | 49 | 40 | 30 | 44 | 53 | 42 | 46 | 44 |
| Tax % | 25% | 27% | 23% | 22% | 23% | 43% | 24% | 25% | 23% | 27% | 23% | 28% | 23% |
| Net Profit + | 32 | 36 | 29 | 24 | 21 | 28 | 30 | 23 | 34 | 39 | 32 | 33 | 34 |
| EPS in Rs | 5.32 | 5.97 | 4.79 | 3.66 | 3.17 | 4.23 | 4.65 | 3.49 | 5.25 | 5.78 | 4.79 | 4.88 | 5.02 |
Financials of Vishnu Chemicals 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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 418 | 480 | 507 | 643 | 769 | 674 | 679 | 1,069 | 1,391 | 1,213 | 1,447 | 1,552 |
| Expenses + | 339 | 396 | 441 | 562 | 667 | 591 | 600 | 911 | 1,160 | 1,010 | 1,217 | 1,312 |
| Operating Profit | 79 | 84 | 66 | 81 | 102 | 82 | 79 | 158 | 231 | 202 | 229 | 240 |
| OPM % | 19% | 18% | 13% | 13% | 13% | 12% | 12% | 15% | 17% | 17% | 16% | 15% |
| Other Income + | 1 | 2 | 7 | 8 | 3 | 7 | 3 | 6 | 15 | 12 | 15 | 26 |
| Interest | 34 | 37 | 44 | 49 | 47 | 39 | 27 | 28 | 35 | 37 | 38 | 42 |
| Depreciation | 12 | 13 | 16 | 19 | 21 | 20 | 20 | 23 | 26 | 34 | 38 | 39 |
| Profit before tax | 34 | 36 | 14 | 22 | 37 | 30 | 34 | 112 | 185 | 144 | 168 | 184 |
| Tax % | 36% | 41% | 52% | 35% | 35% | 27% | -1% | 28% | 26% | 30% | 25% | |
| Net Profit + | 22 | 21 | 7 | 14 | 24 | 22 | 34 | 81 | 137 | 101 | 127 | 138 |
| EPS in Rs | 3.66 | 3.56 | 1.10 | 2.42 | 4.08 | 3.72 | 5.78 | 13.63 | 22.86 | 15.43 | 18.81 | 20.47 |
| Dividend Payout % | 11% | 6% | 0% | 8% | 5% | 5% | 3% | 3% | 2% | 2% | 2% |
Financials of Vishnu Chemicals 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 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 13 | 13 | 13 |
| Reserves | 79 | 106 | 85 | 99 | 130 | 148 | 184 | 265 | 402 | 688 | 913 | 987 |
| Borrowings + | 225 | 263 | 322 | 381 | 348 | 328 | 336 | 365 | 379 | 315 | 342 | 418 |
| Other Liabilities + | 177 | 239 | 275 | 289 | 266 | 247 | 242 | 274 | 258 | 310 | 366 | 409 |
| Total Liabilities | 492 | 620 | 694 | 782 | 757 | 736 | 773 | 916 | 1,052 | 1,326 | 1,635 | 1,827 |
| Fixed Assets + | 186 | 202 | 290 | 349 | 350 | 338 | 387 | 463 | 465 | 635 | 702 | 778 |
| CWIP | 44 | 66 | 62 | 17 | 19 | 36 | 24 | 5 | 98 | 16 | 69 | 56 |
| Investments | 0 | 0 | 1 | 2 | 1 | 1 | 1 | 3 | 2 | 2 | 0 | 0 |
| Other Assets + | 262 | 352 | 342 | 415 | 387 | 360 | 361 | 444 | 488 | 675 | 864 | 993 |
| Total Assets | 492 | 620 | 694 | 782 | 757 | 736 | 773 | 916 | 1,052 | 1,326 | 1,635 | 1,827 |
Financials of Vishnu Chemicals 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 13 | 39 | 73 | 89 | 100 | 49 | 67 | 94 | 134 | 68 | 90 |
| Cash from Investing Activity + | -9 | -43 | -98 | -33 | -23 | -22 | -52 | -86 | -118 | -154 | -100 |
| Cash from Financing Activity + | 1 | 4 | 25 | -56 | -78 | -24 | -19 | -9 | -16 | 88 | 10 |
| Net Cash Flow | 5 | -1 | 0 | 0 | -1 | 4 | -4 | 0 | 0 | 2 | 0 |
| Free Cash Flow | 3 | -5 | -26 | 56 | 75 | 23 | 13 | 12 | 19 | -53 | 2 |
| CFO/OP | 22% | 55% | 111% | 121% | 109% | 74% | 94% | 66% | 79% | 48% | 57% |
Financials of Vishnu Chemicals 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 78 | 88 | 69 | 82 | 64 | 49 | 62 | 65 | 47 | 69 | 74 |
| Inventory Days | 230 | 314 | 269 | 212 | 201 | 252 | 243 | 143 | 142 | 263 | 242 |
| Days Payable | 117 | 225 | 201 | 207 | 147 | 167 | 174 | 146 | 120 | 187 | 172 |
| Cash Conversion Cycle | 191 | 176 | 137 | 87 | 117 | 134 | 131 | 63 | 69 | 145 | 145 |
| Working Capital Days | 37 | 3 | -70 | -24 | -3 | 2 | 6 | 10 | 21 | 54 | 67 |
| ROCE % | 21% | 14% | 16% | 17% | 14% | 12% | 24% | 30% | 20% | 18% |
Guidance history
How Vishnu Chemicals Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Up 2%+ | Planned | — | — |
| Q3 FY26 call → | 10–20% | Up 2%+ | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
29 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 | +18.7% | 73% |
| Last 6 months | −2.7% | 49% |
| Last 3 months | −6.5% | 50% |
The price is 21% below its all-time high of ₹731.55 (8 Sept 2026). Stocks more than 20% below their peak have their score halved, so 59 became 29.
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 Vishnu Chemicals Ltd: 0.4 × 73 + 0.4 × 49 + 0.2 × 50 = 59, halved to 29 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 29 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 Vishnu Chemicals Ltd's management said in earlier quarters
- Q2 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
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