Valiant Organics Limited (VALIANTORG)

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Valiant Organics Limited (VALIANTORG) · mywealthgrid

About

Valiant Organics manufactures specialty chemicals within the Materials sector. Market capitalization ₹908.6 Cr and recent quarterly revenue run rate of ₹230 Cr reflects mid-scale presence in chemicals & petrochemicals.

Face value: ₹10

Market cap

₹1,336 Cr

P/E

24.7×

P/B

1.8×

Dividend yield

ROE

4.5%

ROCE

6.6%

Debt / equity

0.33

OPM

11.9%

EPS (TTM)

₹19.3

Book value

₹271.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profitability highly volatile: net profit ranged ₹3.64–₹29.26 Cr across recent quarters (Dec 2025–Jun 2026) — verify if raw material cost swings or demand cycles drive sensitivity.

Return on equity 4.48% significantly below typical manufacturing returns — verify if structural capital deployment issue or cyclical underperformance.

Operating margin compressed sharply: OPM fell from 17.98% (Jun 2026) to 9.78% (Dec 2025), an 8pp swing — verify exposure to input cost inflation or pricing constraints.

Stock declined 7.93% over one year with 52w range of ₹197.64–₹389.7 (97% swing) — verify if company-specific or sector cyclicality.

Generated analysis · source review pending

Growth drivers

Revenue grew from ₹159.27 Cr (Dec 2025) to ₹231.54 Cr (Jun 2026) — verify if demand rebound is sustainable or a cyclical uptick.

Operating margin recovered to 17.98% (Jun 2026) from 9.78% (Dec 2025) — verify if reflects durable cost improvements or temporary commodity easing.

Conservative debt at D/E 0.33 creates capacity for R&D or capacity investment — verify capex or product development roadmap.

Specialty chemicals positioning in emerging sectors — verify if target end-markets (pharma, electronics, agrochemicals) are expanding and company can gain share.

Generated analysis · source review pending

2,362 historical price candles were omitted because the exchange source has not been verified.

₹478.4+18.2%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of 0.9% (3-yr avg)
−Profit declined 27.7% a year over the last 3 years
−Revenue shrank over the last 3 years (-11.1% a year)

Research score

Structured signal from quality, growth, valuation and momentum.

44/100

Business quality: 25
Growth: 40
Valuation: 65

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

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,153	1,052	723	719	739
COGS	775	688	489	457	437
Gross profit	378	363	234	262	301
	173	199	198	209	214
	205	164	37	53	87
OPM %	17.8%	15.6%	5.1%	7.4%	11.8%
Depreciation	30	29	35	36	40
Interest	6	11	16	24	18
	7	13	6	9	13
Profit before tax	176	137	-9	2	42
Tax	48	35	-0	6	9
Tax %	27.4%	25.2%	-3.5%	259.5%	20.8%
	128	103	-8	-3	33
PAT margin %	11.1%	9.8%	-1.2%	-0.5%	4.5%
EPS (₹)	41.7	32.5	-3.1	-1.2	11.9
EPS adjusted (₹)	41.7	32	-3	-1.3	11.9
	8.4%	3.1%	—	—	—
Annual report	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	27	27	28	28	28	28
Reserves	475	586	662	702	697	731
Minority interest	7	36	51	—	—	—
	208	363	274	256	248	253
	160	181	226	262	209	219
Total equity & liabilities	876	1,192	1,239	1,248	1,183	1,231
	497	530	670	643	657	695
CWIP	46	112	71	86	66	21
Investments	6	8	41	99	94	151
	327	542	457	420	367	364
Total assets	876	1,192	1,239	1,248	1,183	1,231

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Speciality Chemical Division	574.82	60.25	670.59	265.6	404.99	14.88
Pharma Division	163.94	-5.84

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	32.8%	34.5%	32.4%	36.4%	40.8%
EBITDA margin %	17.8%	15.6%	5.3%	7.5%	11.9%
EBIT margin %	15.2%	12.8%	0.5%	2.5%	6.6%
PAT margin %	11.1%	9.8%	-1.2%	-0.5%	4.5%
Working capital
Receivable days	102	88	106	90	120
Inventory days	53	67	85	71	76
Payable days	—	88	155	119	102
NWC days	—	67	36	42	95
Leverage
Current ratio	1.29	1.2	1	0.97	1.01
Debt to EBITDA	1.77	1.67	6.71	4.63	2.87
Debt to equity	0.59	0.4	0.35	0.34	0.33
Interest coverage	28.2	13.3	0.8	1.1	3.1
Asset turnover	0.97	0.85	0.58	0.61	0.6
Return ratios
Return on assets %	10.7%	8.3%	-0.7%	-0.3%	2.7%
Return on capital employed %	23.3%	17.6%	1.5%	3.2%	6.6%
Return on equity %	20.9%	14.9%	-1.2%	-0.5%	4.4%

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 (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	37.9%	37.9%	37.77%	37.77%	37.77%	37.74%	37.91%	37.91%	37.91%	37.89%	37.89%	37.87%
	0.19%	0.69%	1.14%	1.35%	1.33%	0.82%	0.37%	0.21%	0.21%	0.23%	0.28%	0.21%
DII	0.92%	0.87%	0.43%	0.09%	0.08%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	60.99%	60.54%	60.66%	60.79%	60.82%	61.44%	61.72%	61.88%	61.88%	61.88%	61.83%	61.92%
No. of shareholders	—	—	—	—	—	—	—	—	43,274	42,311	40,928	40,526

Promoter holding down 0.03 percentage points since Sep 2023.

10 deals · 31 Aug 2021 – 19 Mar 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
19 Mar 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	1,67,815	₹259.28	₹4.35 Cr
19 Mar 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	1,67,815	₹258.99	₹4.35 Cr
23 Mar 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,66,546	₹466.76	₹7.77 Cr
23 Mar 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,66,546	₹466.81	₹7.77 Cr
21 Mar 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,75,802	₹427.63	₹7.52 Cr
21 Mar 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,75,802	₹427.56	₹7.52 Cr
31 Aug 2021	GOLDMAN SACHS INDIA FUND LIMITED	Block	BSE	Sell	2,13,004	₹1,299.05	₹27.67 Cr
31 Aug 2021	GOLDMAN SACHS FUNDS GOLDMAN SACHS INDIA EQUITY PORTFOLIO	Block	BSE	Buy	2,13,004	₹1,299.05	₹27.67 Cr
31 Aug 2021	GOLDMAN SACHS INDIA FUND LIMITED	Bulk	BSE	Sell	2,13,004	₹1,299.05	₹27.67 Cr
31 Aug 2021	GOLDMAN SACHS FUNDS GOLDMAN SACHS INDIA EQUITY PORTFOLIO	Bulk	BSE	Buy	2,13,004	₹1,299.05	₹27.67 Cr

1–10 of 10

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. NAVIN CHAPSHI SHAHNon-Executive - Independent Director-Chairperson
Mr. PARIMAL HASMUKHLAL DESAIExecutive Director-MD
Mr. Mahek ChhedaChief Financial Officer
Mr. KALLADA KRISHNAN SATHIABABUExecutive Director-MD
Mr. MAHEK MANOJ CHHEDAExecutive Director
Mr. NEMIN MAHESH SAVADIAExecutive Director
Mr. SIDDHARTH DINESH SHAHExecutive Director
Mr. SANTOSH SHANTILAL VORANon-Executive - Non Independent Director
Mr. KIRITKUMAR HARIBHAI DESAINon-Executive - Non Independent Director
Mrs. SONAL AMIT VIRANon-Executive - Independent Director
Mr. SUDHIRPRAKASH BABURAO SAWANTNon-Executive - Independent Director

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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 Valiant Organics Limited. 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

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

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Events

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

10

Interim dividend10 Feb 2023 · ex-date₹1
Final dividend20 Sept 2022 · ex-date₹3.5
Interim dividend24 Nov 2020 · ex-date₹5
Interim dividend11 Mar 2020 · ex-date₹6
Interim dividend20 Nov 2019 · ex-date₹5
Final dividend19 Sept 2019 · ex-date₹7
Interim dividend15 Nov 2018 · ex-date₹5
Final dividend19 Sept 2018 · ex-date₹4
Interim dividend23 Nov 2017 · ex-date₹2.5
Final dividend7 Aug 2017 · ex-date₹5

1

Board meeting to consider results12 Aug 2026

1

Bonus 1:124 Dec 2020 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

11 announcementsExport CSV

1 Oct 2026, 5:55 pmCompany Update

Announcement Under Regulation 30 - Receipt Rectification Order Under Income Tax Act, 1961

General PDF

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Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	32.8%	34.5%	32.4%	36.4%	40.8%
EBITDA margin %	17.8%	15.6%	5.3%	7.5%	11.9%
EBIT margin %	15.2%	12.8%	0.5%	2.5%	6.6%
PAT margin %	11.1%	9.8%	-1.2%	-0.5%	4.5%
Working capital
Receivable days	102	88	106	90	120
Inventory days	53	67	85	71	76
Payable days	—	88	155	119	102
NWC days	—	67	36	42	95
Leverage
Current ratio	1.29	1.2	1	0.97	1.01
Debt to EBITDA	1.77	1.67	6.71	4.63	2.87
Debt to equity	0.59	0.4	0.35	0.34	0.33
Interest coverage	28.2	13.3	0.8	1.1	3.1
Asset turnover	0.97	0.85	0.58	0.61	0.6
Return ratios
Return on assets %	10.7%	8.3%	-0.7%	-0.3%	2.7%
Return on capital employed %	23.3%	17.6%	1.5%	3.2%	6.6%
Return on equity %	20.9%	14.9%	-1.2%	-0.5%	4.4%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Gujarat Fluorochemicals LimitedFLUOROCHEMFLUOROCHEM	₹47,713 Cr	₹49,912 Cr	₹5,303 Cr	₹1,375 Cr	25.8%	₹615 Cr	11.5%	11.1%	7.6%	401
Navin Fluorine International LimitedNAVINFLUORNAVINFLUOR	₹41,740 Cr	₹42,967 Cr	₹3,634 Cr	₹1,232 Cr	32.6%	₹790 Cr	20%	21.6%	20.1%	61
Aether Industries LimitedAETHERAETHER	₹22,161 Cr	₹22,603 Cr	₹1,224 Cr	₹384 Cr	31.3%	₹235 Cr	19.8%	13.2%	9.4%	330
Atul LimitedATULATUL	₹17,231 Cr	₹17,411 Cr	₹6,643 Cr	₹1,189 Cr	16.4%	₹704 Cr	11%	14.1%	11.5%	70
Aarti Industries LimitedAARTIINDAARTIIND	₹16,869 Cr	₹21,790 Cr	₹9,012 Cr	₹1,337 Cr	14.1%	₹531 Cr	5.1%	8.8%	7.3%	54
Fine Organic Industries LimitedFINEORGFINEORG	₹15,752 Cr	₹15,797 Cr	₹2,472 Cr	₹535 Cr	20.4%	₹438 Cr	17.6%	21.6%	16.8%	113
Basf India LimitedBASFBASF	₹14,796 Cr	₹14,796 Cr	₹16,177 Cr	₹952 Cr	4.4%	₹643 Cr	2.8%	14%	11.1%	40
Privi Speciality Chemicals LimitedPRIVISCLPRIVISCL	₹13,970 Cr	₹14,980 Cr	₹2,671 Cr	₹666 Cr	25.2%	₹342 Cr	12.4%	27.7%	25.2%	158
Sudeep Pharma LimitedSUDEEPPHRMSUDEEPPHRM	₹13,546 Cr	₹13,694 Cr	₹676 Cr	₹233 Cr	34.6%	₹133 Cr	27.1%	31.1%	25.2%	366
Anupam Rasayan India LimitedANURASANURAS	₹13,243 Cr	₹15,058 Cr	₹2,535 Cr	₹563 Cr	22.2%	₹175 Cr	9.4%	9.1%	5.5%	377
Vinati Organics LimitedVINATIORGAVINATIORGA	₹12,528 Cr	₹12,528 Cr	₹2,381 Cr	₹665 Cr	29.4%	₹448 Cr	19.9%	18.8%	14.9%	152
Elantas Beck India LimitedELANTASELANTAS	₹10,644 Cr	₹10,644 Cr	₹778 Cr	₹147 Cr	20.3%	₹136 Cr	17.4%	20.6%	15.8%	70

Date	Category	Subject	Filing
1 Oct 2026, 5:55 pm	Company Update General	Announcement Under Regulation 30 - Receipt Rectification Order Under Income Tax Act, 1961	PDF
30 Sept 2026, 5:37 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
30 Sept 2026, 5:35 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
29 Sept 2026, 4:21 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF
29 Sept 2026, 4:17 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
28 Sept 2026, 3:59 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
7 Sept 2026, 11:30 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
5 Sept 2026, 6:42 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	76	161	115	-32	238	84	56	92
	-88	-184	-159	-122	-143	-65	-21	-86
	1	27	49	167	-112	-23	-32	-11
Net cash flow	-11	5	5	12	-17	-4	4	-5
Free cash flow	—	-44	-56	-153	102	10	26	58
CFO / Operating profit %	—	—	—	-15.9%	144.9%	219.7%	105.1%	104.3%

Valiant Organics Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

10

1

1

Announcements

10

1

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Pharma Division · revenue

Valiant Organics Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Dividends10

Board meetings1

Bonus issues1

Announcements

Dividends10

Board meetings1

Bonus issues1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Pharma Division · revenue

10

1

1

10

1

1