Mahickra Chemicals
- Market cap
- ₹ 237 Cr.
- P/E
- 50.3x
- P/B
- 3.84x
- 52-week range
- 131 – 314.5
- ROE
- 10%
- ROCE
- 13%
- Dividend yield
- 0.1%
- Debt / equity
- 0.24
- Sector
- Chemicals & Petrochemicals
- Industry
- Dyes And Pigments
- Listed on
- NSE SME
About
Mahickra Chemicals Limited is engaged in manufacturing and trading of dyes and chemicals. It operates through the Manufacturing of Dyes and Dyestuffs segment. It specializes in a comprehensive range of reactive dyes branded as Nikazol and Nikafix, widely used in dyeing textiles. It operates four manufacturing facilities, two of which are dedicated to producing reactive dyes. Its products include dyestuffs, food colors, pigment, specialty chemicals, inorganic chemicals, and excipients. Its Nikron Pigment Emulsions work well in both rotary and flat-bed printing techniques because they are made especially for textile applications. It offers a comprehensive range of textile emulsions, hardeners, coating emulsions, and binders that provide the essential components for creating durable and textile finishes. Its coating agents are developed to offer advanced surface protection and enhancement for textiles. It serves various industries, including pharma, cosmetics, fertilizer, and others.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Dyes And Pigments: 19 companies →Mahickra Chemicals against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)50.3 against a typical 15.3: pricier than most peers (1st = cheapest).16th of 19
- Sales growth+62.9% against a typical +29.6% from a year earlier.4th of 17
- Profit growth+300% against a typical +93.6% from a year earlier.4th of 14
- Share price, 3 months−0.6% against a typical +6%.13th of 19
- Size₹ 236.6 Cr. market value against a typical ₹ 252 Cr. (1st = largest).9th of 16
Latest announcements
Exchange filings and their impact on the company.
- Mahickra to pay Rs 0.53 cr for 51% of Vida Wellness, adding about Rs 4 cr of wellness sales.
Mahickra Chemicals board on October 17, 2026 approved subscribing to 265,898 shares of Vida Wellness Private Limited at Rs 20 per share for Rs 53.18 lakh via a rights issue. On completion in 60 days, Mahickra will hold 51% and Vida will become its subsidiary. Vida makes baby nappies, adult diapers, sanitary pads and cosmetics, with sales falling to Rs 3.88 cr in FY25 from Rs 7.78 cr in FY23; Mahickra says the deal diversifies it into wellness and hygiene.
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 31 Oct 2026Upcoming | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2026 and other business matters |
| 17 Oct 2026 | Other business matters | To consider acquisition of equity shares of Vida Wellness Private Limited by Mahickra Chemicals Limited and other business matters |
| 30 May 2026 | Financial Results/Dividend/Other business matters | MAHICKRA : 30-May-2026 : The Company has informed the Exchange that a Board meeting to be held on May 26, 2026 has been re-scheduled. Further, the Company has informed the Exchange that the meeting of the Board of Directors of the Company will be held on May 30, 2026, To consider and approve the financial results for the period ended March 31, 2026, dividend and other business matters |
| 26 May 2026 | Board Meeting Intimation | Mahickra Chemicals Limited has informed the Exchange about Board Meeting to be held on 26-May-2026 to consider and approve the Yearly Audited Financial results of the Company for the period ended March 2026 and Dividend/Other business. |
| 23 Jan 2026 | Fund Raising/Other business matters | To consider Fund Raising and other business matters |
| 12 Nov 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2025 and other business matters |
| 23 May 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended March 31, 2025 and other business matters |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 34 | 53 | 42 | 60 | 54 | 49 | 37 | 35 | 45 | 43 | 49 | 57 |
| Expenses | 33 | 52 | 41 | 60 | 53 | 47 | 36 | 36 | 42 | 43 | 48 | 51 |
| Operating Profit | 1 | 1 | 2 | 0 | 0 | 2 | 2 | −1 | 2 | 0 | 1 | 6 |
| OPM % | 2.9% | 2.1% | 3.6% | 0.3% | 0.9% | 3.7% | 4.1% | −2.5% | 5% | 0.4% | 3% | 11% |
| Other Income | 1 | 2 | 1 | 3 | 2 | 1 | 0 | 2 | 0 | 2 | 1 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 2 | 3 | 2 | 2 | 2 | 2 | 1 | 1 | 2 | 2 | 1 | 6 |
| Tax % | 29% | 29% | 28% | 28% | 29% | 27% | 29% | 28% | 25% | 31% | 32% | 24% |
| Net Profit | 1 | 2 | 2 | 2 | 2 | 2 | 0 | 1 | 1 | 1 | 1 | 4 |
| EPS in Rs | 1.29 | 2.54 | 2.06 | 2.07 | 1.96 | 2.09 | 0.6 | 0.71 | 1.66 | 1.47 | 1.12 | 4.35 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 4%
- 3 Years
- 1%
- TTM
- 18%
- 10 Years
- —
- 5 Years
- 11%
- 3 Years
- 15%
- TTM
- 104%
- 10 Years
- —
- 5 Years
- 27%
- 3 Years
- 48%
- TTM
- —
- 10 Years
- —
- 5 Years
- 9%
- 3 Years
- 7%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Mahickra Chemicals | ₹ 265.00 | ₹ 237 Cr. | 50.3x | 3.8x | 10% | — |
| Solar Industries India | ₹ 18,320.00 | ₹ 1,65,778 Cr. | 105.8x | 29.7x | — | 18.1% |
| Asian Paints | ₹ 2,305.00 | ₹ 2,21,095 Cr. | 54.6x | 11.3x | — | 13% |
| Pidilite Industries | ₹ 1,514.00 | ₹ 1,54,107 Cr. | 67.7x | 15.4x | — | 17.4% |
| SRF | ₹ 2,309.00 | ₹ 68,444 Cr. | 40.3x | 5.5x | — | 12.7% |
| Berger Paints India | ₹ 465.60 | ₹ 54,289 Cr. | 49.2x | 8.2x | — | 9.9% |
Management
- Miteshkumar C. Gandhi
- Chairman of the Board, Managing Director
- Atul Sushilkumar Bachhawat
- Chief Financial Officer
- Ashiskumar Champaklal Gandhi
- Whole Time Director
- Komal Miteshkumar Gandhi
- Whole Time Director
- Himali Maheshbhai Thakkar
- Company Secretary
Prices are delayed and for information only. Nothing on this page is investment advice.