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Last Updated: April 2, 2026, 2:43 am
Author: Getaka|Social: XLinkedIn

Bodal Chemicals Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹41.43Overvalued by 24.12%vs CMP ₹54.60

P/E (22.7) × ROE (2.5%) × BV (₹89.10) × DY (2.00%)

₹67.99Undervalued by 24.52%vs CMP ₹54.60
MoS: +19.7% (Adequate)Confidence: 50/100 (Moderate)Models: 5 Under, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹32.1930%Over (-41%)
Graham NumberEarnings₹69.5122%Under (+27.3%)
Net Asset ValueAssets₹89.0410%Under (+63.1%)
EV/EBITDAEnterprise₹118.5612%Under (+117.1%)
Earnings YieldEarnings₹24.1010%Over (-55.9%)
ROCE CapitalReturns₹83.2210%Under (+52.4%)
Revenue MultipleRevenue₹138.487%Under (+153.6%)
Consensus (7 models)₹67.99100%Undervalued
Key Drivers: EPS CAGR -22.3% drags value — could be higher if earnings stabilize. | ROE 2.5% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -22.3%

*Investments are subject to market risks

Investment Snapshot

54
Bodal Chemicals Ltd scores 54/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health50/100 · Moderate
ROCE 5.5% WeakROE 2.5% WeakD/E 0.35 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 57.0% Stable
Earnings Quality50/100 · Moderate
OPM stable around 9% Steady
Quarterly Momentum80/100 · Strong
Revenue (4Q): +16% YoY GrowingProfit (4Q): +2,115% YoY Strong
Industry Rank35/100 · Weak
P/E 22.7 vs industry 166.4 Cheaper than peersROCE 5.5% vs industry 10.9% Below peersROE 2.5% vs industry 9.0% Below peers3Y sales CAGR: -5% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:43 am

Market Cap 688 Cr.
Current Price 54.6
Intrinsic Value₹67.99
High / Low 81.5/41.2
Stock P/E22.7
Book Value 89.1
Dividend Yield0.00 %
ROCE5.51 %
ROE2.51 %
Face Value 2.00
PEG Ratio-1.02

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bodal Chemicals Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Bodal Chemicals Ltd 688 Cr. 54.6 81.5/41.222.7 89.10.00 %5.51 %2.51 % 2.00
Bhageria Industries Ltd 609 Cr. 140 246/12811.6 1321.07 %8.66 %6.68 % 5.00
Amal Ltd 547 Cr. 443 1,148/40820.1 91.70.23 %36.3 %35.0 % 10.0
Heubach Colorants India Ltd 951 Cr. 412 621/40013.8 2410.00 %15.2 %11.6 % 10.0
Dynemic Products Ltd 255 Cr. 205 416/19114.3 1880.00 %10.0 %7.04 % 10.0
Industry Average1,057.00 Cr238.70166.44186.930.49%10.89%9.02%8.13

All Competitor Stocks of Bodal Chemicals Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 401.22320.73389.58332.49330.00338.55393.59421.96428.63443.47450.87454.20480.45
Expenses 369.13296.18362.67310.28306.51314.68368.48387.50395.97398.97403.61406.59457.46
Operating Profit 32.0924.5526.9122.2123.4923.8725.1134.4632.6644.5047.2647.6122.99
OPM % 8.00%7.65%6.91%6.68%7.12%7.05%6.38%8.17%7.62%10.03%10.48%10.48%4.79%
Other Income 1.692.223.898.785.934.655.452.465.070.652.354.0519.90
Interest 7.2610.1111.5813.1513.4212.0915.6021.3319.5419.7121.0021.6319.92
Depreciation 12.1913.9214.6514.6514.3114.5217.0117.0317.2017.2617.0117.5117.42
Profit before tax 14.332.744.573.191.691.91-2.05-1.440.998.1811.6012.525.55
Tax % 28.33%11.31%38.51%30.72%26.04%49.21%-200.00%-18.75%124.24%33.74%-25.09%23.88%-7.93%
Net Profit 10.272.432.812.211.240.982.04-1.18-0.245.4214.509.535.99
EPS in Rs 0.840.190.220.180.100.080.16-0.09-0.020.431.150.760.48

Last Updated: January 2, 2026, 5:01 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 3:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 9601,0439081,2331,1421,4241,3751,2262,0551,5741,3951,7451,875
Expenses 7708597581,0079461,1871,2371,1401,8351,4411,2841,5781,735
Operating Profit 18918415022619623613887220133111167140
OPM % 20%18%16%18%17%17%10%7%11%8%8%10%7%
Other Income -70519158131016-2129241
Interest 47271295919172941548282
Depreciation 25222629122128304753606969
Profit before tax 47139131204186219101551425151930
Tax % 35%34%34%35%33%35%15%28%31%25%-37%4%
Net Profit 3092861331221418640993861830
EPS in Rs 2.768.417.8812.1810.0311.727.123.438.513.030.511.472.41
Dividend Payout % 0%0%8%7%8%7%11%23%9%3%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)206.67%-6.52%54.65%-8.27%15.57%-39.01%-53.49%147.50%-61.62%-84.21%200.00%
Change in YoY Net Profit Growth (%)0.00%-213.19%61.17%-62.92%23.84%-54.58%-14.48%200.99%-209.12%-22.59%284.21%

Bodal Chemicals Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:5%
3 Years:-5%
TTM:20%
Compounded Profit Growth
10 Years:-14%
5 Years:-26%
3 Years:-45%
TTM:875%
Stock Price CAGR
10 Years:9%
5 Years:-2%
3 Years:-13%
1 Year:-22%
Return on Equity
10 Years:10%
5 Years:4%
3 Years:2%
Last Year:2%

Last Updated: September 5, 2025, 1:10 am

Balance Sheet

Last Updated: December 4, 2025, 1:03 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 22222222242424242425252525
Reserves 431352133416738059079571,0281,0531,0571,0801,097
Borrowings 397234143151181171257454676760904911866
Other Liabilities 131144132193194290267314385283294324325
Total Liabilities 5935345107071,0721,2901,4551,7492,1132,1202,2812,3392,313
Fixed Assets 1681901922224376096568048179671,3141,3011,278
CWIP 9309192671470193686161
Investments 1221717636001300
Other Assets 4153393164595996507899241,227960886977973
Total Assets 5935345107071,0721,2901,4551,7492,1132,1202,2812,3392,313

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 49198131104718610-13-14290204114
Cash from Investing Activity + -17-35-23-67-256-128-79-168-170-315-278-41
Cash from Financing Activity + -32-162-109-23236-51761781813381-73
Net Cash Flow 10-114-1377-3-387-0
Free Cash Flow 3116210745-22138-43-191-170-29-2969
CFO/OP 34%129%111%76%34%106%20%-4%11%223%182%65%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-208.00-50.007.0075.0015.0065.00-119.00-367.00-456.00-627.00-793.00-744.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 8669675691851211391059710083
Inventory Days 72435760598691141141119139139
Days Payable 66626773799187102817210297
Cash Conversion Cycle 925058437179124178165144137125
Working Capital Days 412318215850657355491920
ROCE %39%39%35%46%27%24%11%5%12%5%3%6%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 57.47%57.39%57.39%57.39%57.39%57.39%57.32%57.32%57.32%57.32%57.00%57.00%
FIIs 2.43%2.37%0.45%0.30%0.77%0.19%0.67%0.32%0.32%0.81%0.29%0.32%
DIIs 0.14%0.01%0.03%0.01%0.01%0.01%0.01%0.00%0.00%0.00%0.00%0.00%
Government 0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public 39.97%40.22%42.12%42.29%41.82%42.41%42.00%42.36%42.35%41.87%42.70%42.68%
No. of Shareholders 64,79566,07377,81676,86777,33277,49581,42078,83178,16375,02374,64973,083

Shareholding Pattern Chart

No. of Shareholders

Bodal Chemicals Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 1.470.513.038.793.25
Diluted EPS (Rs.) 1.470.513.038.793.24
Cash EPS (Rs.) 6.915.327.2511.865.74
Book Value[Excl.RevalReserv]/Share (Rs.) 87.7286.0485.7985.9280.10
Book Value[Incl.RevalReserv]/Share (Rs.) 87.7286.0485.7985.9280.10
Revenue From Operations / Share (Rs.) 138.55110.87125.32167.42100.26
PBDIT / Share (Rs.) 13.559.5011.5419.348.38
PBIT / Share (Rs.) 8.114.697.3115.545.89
PBT / Share (Rs.) 1.530.374.0511.604.53
Net Profit / Share (Rs.) 1.470.513.038.063.25
NP After MI And SOA / Share (Rs.) 1.470.513.038.793.43
PBDIT Margin (%) 9.778.569.2011.558.35
PBIT Margin (%) 5.854.225.839.285.87
PBT Margin (%) 1.100.333.226.924.51
Net Profit Margin (%) 1.060.462.414.813.24
NP After MI And SOA Margin (%) 1.060.462.415.253.42
Return on Networth / Equity (%) 1.670.593.5210.194.30
Return on Capital Employeed (%) 6.433.706.1214.446.33
Return On Assets (%) 0.780.281.795.072.40
Long Term Debt / Equity (X) 0.360.400.330.200.10
Total Debt / Equity (X) 0.810.820.700.540.35
Asset Turnover Ratio (%) 0.750.630.740.960.71
Current Ratio (X) 1.171.171.371.411.43
Quick Ratio (X) 0.730.780.890.850.92
Inventory Turnover Ratio (X) 5.774.982.243.103.25
Dividend Payout Ratio (NP) (%) 0.0019.4425.799.100.00
Dividend Payout Ratio (CP) (%) 0.001.8710.766.350.00
Earning Retention Ratio (%) 0.0080.5674.2190.900.00
Cash Earning Retention Ratio (%) 0.0098.1389.2493.650.00
Interest Coverage Ratio (X) 2.092.203.538.046.16
Interest Coverage Ratio (Post Tax) (X) 1.241.121.934.983.39
Enterprise Value (Cr.) 1607.201786.111466.281791.701436.56
EV / Net Operating Revenue (X) 0.921.280.930.871.17
EV / EBITDA (X) 9.4214.9510.127.5614.01
MarketCap / Net Operating Revenue (X) 0.420.660.460.600.89
Retention Ratios (%) 0.0080.5574.2090.890.00
Price / BV (X) 0.660.850.671.171.13
Price / Net Operating Revenue (X) 0.420.660.460.600.89
EarningsYield 0.020.010.050.080.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Bodal Chemicals Ltd. is a Public Limited Listed company incorporated on 24/09/1986 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L24110GJ1986PLC009003 and registration number is 009003. Currently Company is involved in the business activities of Manufacture of organic and inorganic chemical compounds. Company's Total Operating Revenue is Rs. 1723.25 Cr. and Equity Capital is Rs. 25.19 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Dyes & PigmentsBodal Corporate House, Beside Maple Green Residency, Ahmedabad Gujarat 380059Contact not found
Management
NamePosition Held
Mr. Suresh J PatelChairman & Managing Director
Mr. Bhavin S PatelExecutive Director
Mr. Ankit S PatelExecutive Director
Mr. Rohit MalooIndependent Director
Mr. Nalin KumarIndependent Director
Mrs. Neha HuddarIndependent Director
Mr. Mayank K MehtaIndependent Director
Mr. Rajarshi GoshDirector

FAQ

What is the intrinsic value of Bodal Chemicals Ltd and is it undervalued?

As of 11 April 2026, Bodal Chemicals Ltd's intrinsic value is ₹67.99, which is 24.52% higher than the current market price of ₹54.60, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (2.51 %), book value (₹89.1), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Bodal Chemicals Ltd?

Bodal Chemicals Ltd is trading at ₹54.60 as of 11 April 2026, with a FY2026-2027 high of ₹81.5 and low of ₹41.2. The stock is currently in the middle of its 52-week range. Market cap stands at ₹688 Cr..

How does Bodal Chemicals Ltd's P/E ratio compare to its industry?

Bodal Chemicals Ltd has a P/E ratio of 22.7, which is below the industry average of 166.44. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Bodal Chemicals Ltd financially healthy?

Key indicators for Bodal Chemicals Ltd: ROCE of 5.51 % is on the lower side compared to the industry average of 10.89%; ROE of 2.51 % is below ideal levels (industry average: 9.02%). Dividend yield is 0.00 %.

Is Bodal Chemicals Ltd profitable and how is the profit trend?

Bodal Chemicals Ltd reported a net profit of ₹18 Cr in Mar 2025 on revenue of ₹1,745 Cr. Compared to ₹99 Cr in Mar 2022, the net profit shows a declining trend.

Does Bodal Chemicals Ltd pay dividends?

Bodal Chemicals Ltd has a dividend yield of 0.00 % at the current price of ₹54.60. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bodal Chemicals Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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