National Peroxide Ltd (NPL)

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National Peroxide Ltd (NPL) · mywealthgrid

About

National Peroxide Ltd operates in commodity chemicals within the Materials sector, with a market capitalisation of ₹372 Cr. Recent quarters show extreme volatility: operating margins ranged from +13.81% (Jun 2024) to -3.2% (Mar 2025), and net profit swung from +₹5.08 Cr (Jun 2024) to -₹6.49 Cr (Mar 2025).

Face value: ₹10

Market cap

₹344 Cr

P/E

—

P/B

1.0×

Dividend yield

1.2%

ROE

3.1%

ROCE

Debt / equity

0.01

OPM

10.8%

EPS (TTM)

₹-3.9

Book value

₹629.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profitability volatility is extreme: net profit swung from +₹5.08 Cr (Jun 2024) to losses of -₹1.52 Cr (Dec 2024) and -₹6.49 Cr (Mar 2025), with operating margins collapsing from +13.81% to -3.2%.

Negative ROE (-0.64%) and unavailable PE signal value destruction; verify whether recent losses reflect temporary operational disruption or structural market/competitive challenges.

Commodity chemical margins face structural pressure from raw material and energy cost fluctuations; verify hedging practices and input cost exposure.

Revenue base is modest at ₹62–88 Cr quarterly with no forward demand visibility; determine customer concentration, market positioning, and cyclicality sensitivity.

Generated analysis · source review pending

Growth drivers

Recent results announcements (08-12, 08-03) may signal operational updates; verify whether these filings show stabilization or recovery from the ₹6.49 Cr loss in Mar 2025.

Historical profitability shows the business achieved ₹8.85 EPS (Jun 2024) and ₹5.35 EPS (Mar 2024); determine what operational or market conditions enabled these results and whether they can be restored.

Very low debt-to-equity ratio (0.01) provides financial flexibility to invest in operational recovery if profitability stabilizes.

Generated analysis · source review pending

553 historical price candles were omitted because the exchange source has not been verified.

₹602.8+1.8%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 12×
+High promoter holding of 70.8% with no pledge

Cons

−Low return on equity of 2.4% (3-yr avg)
−Profit declined 34.6% a year over the last 3 years
−Revenue shrank over the last 3 years (-8.4% a year)

Research score

Structured signal from quality, growth, valuation and momentum.

37/100

Business quality: 40
Growth: 0
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	377	333	287	290
COGS	181	161	148	185
Gross profit	196	172	139	105
	136	135	123	74
	60	38	15	31
OPM %	15.8%	11.3%	5.3%	10.8%
Depreciation	20	19	20	21
Interest	7	2	2	1
	21	5	4	5
Profit before tax	54	22	-2	14
Tax	14	5	0	3
Tax %	26.2%	21.9%	8.2%	23.5%
	40	17	-2	11
PAT margin %	10.5%	5%	-0.8%	3.8%
EPS (₹)	68.7	29.2	-3.9	19.2
EPS adjusted (₹)	68.7	29.2	-3.9	19.2
	0%	42.8%	—	36.5%
Annual report	—	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	0	6	6	6	6
Reserves	—	346	353	344	356
	—	14	10	4	4
	—	88	90	89	91
Total equity & liabilities	—	454	459	442	457
	0	336	321	312	297
CWIP	—	3	11	3	3
Investments	—	40	35	37	51
	—	75	92	90	106
Total assets	—	454	459	442	457

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	67	36	19	34
	25	-18	-2	-23
	-86	-17	-13	-5
Net cash flow	6	2	4	6
Free cash flow	61	22	14	30
CFO / Operating profit %	112.4%	96.8%	122.8%	109.8%

Compounded sales growth

7 years: —
5 years: —
3 years: -8%
1 year: 1%

Compounded profit growth

7 years: —
5 years: —
3 years: -35%
1 year: —

Return on equity

7 years: —
5 years: —
3 years: 2%
Last year: 3%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	52%	51.7%	48.3%	36.2%
EBITDA margin %	15.8%	11.3%	5.3%	10.8%
EBIT margin %	10.6%	5.5%	-1.7%	3.6%
PAT margin %	10.5%	5%	-0.8%	3.8%
Working capital
Receivable days	23	30	29	32
Inventory days	73	77	80	75
Payable days	46	51	49	32
NWC days	50	56	60	75
Leverage
Current ratio	2.8	2.94	3.3	3.22
Debt to EBITDA	0.23	0.28	0.23	0.11
Debt to equity	0.04	0.03	0.01	0.01
Interest coverage	6.8	11.9	-0.2	12
Asset turnover	0.83	0.72	0.65	0.63
Return ratios
Return on assets %	8.7%	3.7%	-0.5%	2.4%
Return on capital employed %	11.5%	5.7%	-0.1%	4%
Return on equity %	11.2%	4.7%	-0.6%	3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.76%	70.76%	70.76%	70.76%	70.76%	70.76%	70.76%	70.76%	70.76%
FII	0.07%	0%	0%	0%	0%	0%	0%	0%	0%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%
	29.16%	29.23%	29.23%	29.23%	29.23%	29.23%	29.23%	29.23%	29.23%
No. of shareholders	—	—	—	—	—	16,147	15,811	15,470	15,292

Promoter holding up 0 percentage points since Jun 2024.

Mr. Ness Nusli WadiaNon-Executive - Non Independent Director-Chairperson related to Promoter
Ms. Minnie Aarasp BodhanwalaNon-Executive - Non Independent Director
Mr. Viraf Rustom MehtaNon-Executive - Independent Director
Ms. Parvathi MenonNon-Executive - Independent Director
Mr. Jaivir SinghNon-Executive - Independent Director
Mr. Rajiv AroraExecutive Director
Mr. Chirag KothariChief Financial Officer
Mr. Akshay SatasiyaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in National Peroxide Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Intimation regarding Revision of Credit rating in terms of Regulation 30 of SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015.15 Oct 2025

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

2

Final dividend22 Sept 2026 · ex-date₹7
Dividend dividend20 Aug 2024 · ex-date₹12.5

2

Board meeting to consider results12 Aug 2026
Board meeting to consider results3 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

13 announcementsExport CSV

1 Oct 2026, 5:23 pmCompany Update

Announcement under Regulation 30 (LODR)-Resignation of Director

Resignation of Director PDF

1 Oct 2026, 5:21 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

1 Oct 2026, 5:18 pmOthers

Board Meeting Outcome for Change In Directors & Key Managerial Personnel

Outcome without intimation PDF

29 Sept 2026, 8:35 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

29 Sept 2026, 8:19 pmCompany Update

Summary Of Proceedings Of The 6Th Annual General Meeting Of The Company.

General PDF

29 Sept 2026, 8:10 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

5 Sept 2026, 2:00 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

4 Sept 2026, 6:55 pmCompany Update

Communication To Shareholders - Dividend For FY 2025-26 - Intimation On Tax Deduction At Source (TDS) / Withholding Tax On Dividend

General PDF

Date	Category	Subject	Filing
1 Oct 2026, 5:23 pm	Company Update Resignation of Director	Announcement under Regulation 30 (LODR)-Resignation of Director	PDF
1 Oct 2026, 5:21 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management

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Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	52%	51.7%	48.3%	36.2%
EBITDA margin %	15.8%	11.3%	5.3%	10.8%
EBIT margin %	10.6%	5.5%	-1.7%	3.6%
PAT margin %	10.5%	5%	-0.8%	3.8%
Working capital
Receivable days	23	30	29	32
Inventory days	73	77	80	75
Payable days	46	51	49	32
NWC days	50	56	60	75
Leverage
Current ratio	2.8	2.94	3.3	3.22
Debt to EBITDA	0.23	0.28	0.23	0.11
Debt to equity	0.04	0.03	0.01	0.01
Interest coverage	6.8	11.9	-0.2	12
Asset turnover	0.83	0.72	0.65	0.63
Return ratios
Return on assets %	8.7%	3.7%	-0.5%	2.4%
Return on capital employed %	11.5%	5.7%	-0.1%	4%
Return on equity %	11.2%	4.7%	-0.6%	3%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Deepak Fertilizers And Petrochemicals Corporation LimitedDEEPAKFERTDEEPAKFERT	₹16,417 Cr	₹21,903 Cr	₹12,104 Cr	₹2,016 Cr	14.6%	₹984 Cr	6.4%	12.6%	11.3%	55
Tata Chemicals LimitedTATACHEMTATACHEM	₹15,487 Cr	₹23,488 Cr	₹15,120 Cr	₹1,711 Cr	12.4%	₹-2,165 Cr	-11.8%	2.9%	-8.9%	113
Gujarat Narmada Valley Fertilizers And Chemicals LimitedGNFCGNFC	₹8,655 Cr	₹8,655 Cr	₹8,410 Cr	₹1,241 Cr	11.3%	₹1,037 Cr	10.4%	10.6%	9.1%	81
TANFAC Industries LtdTANFACINDTANFACIND	₹6,909 Cr	₹7,002 Cr	₹711 Cr	₹112 Cr	15.8%	₹70 Cr	9.9%	27.7%	20.5%	112
Gujarat Alkalies And Chemicals LimitedGUJALKALIGUJALKALI	₹4,430 Cr	₹4,998 Cr	₹4,498 Cr	₹510 Cr	9.3%	₹66 Cr	-0.1%	1.6%	-0%	25
Grauer & Weil India LimitedGRAUWEILGRAUWEIL	₹3,709 Cr	₹3,717 Cr	₹1,134 Cr	₹188 Cr	16.6%	₹69 Cr	13.9%	23%	18%	72
Ghcl LimitedGHCLGHCL	₹3,700 Cr	₹3,762 Cr	₹3,064 Cr	₹689 Cr	22.5%	₹472 Cr	15.4%	17%	13.4%	126
J.g.chemicals LimitedJGCHEMJGCHEM	₹2,392 Cr	₹2,399 Cr	₹1,071 Cr	₹96 Cr	8.4%	₹75 Cr	7.1%	18.2%	13.3%	101
Thirumalai Chemicals LimitedTIRUMALCHMTIRUMALCHM	₹1,764 Cr	₹3,857 Cr	₹1,832 Cr	₹20 Cr	-2%	₹-152 Cr	-9.7%	-3.3%	-12.3%	14
Ig Petrochemicals LimitedIGPLIGPL	₹1,754 Cr	₹2,110 Cr	₹2,073 Cr	₹207 Cr	4.9%	₹82 Cr	0.1%	3.2%	0.2%	23
Indo Borax & Chemicals LimitedINDOBORAXINDOBORAX	₹1,507 Cr	₹1,507 Cr	₹232 Cr	₹52 Cr	20.5%	₹56 Cr	23.3%	15.5%	15.1%	110
Innovassynth Technologies (India) LtdINOVSYNTHINOVSYNTH	₹1,462 Cr	₹1,466 Cr	₹0 Cr	₹-0 Cr	—	₹-5 Cr	—	-1.1%	-12%	—

National Peroxide Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Events

Dividends2

Board meetings2

Announcements

Ratio timeline

Quarterly record

Board and management

Not in the F&O segment

Dividends2

Board meetings2

Announcements

Annual reports

Credit ratings

No fund holdings on record

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

2

2

2

2