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Last Updated: March 31, 2026, 4:21 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 539230 | NSE: CHEMIESYNT

Chemiesynth (Vapi) Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹3.97Overvalued by 91.73%vs CMP ₹48.00

P/E (15.0) × ROE (1.0%) × BV (₹32.80) × DY (2.00%)

Defaults: P/E=15

₹57.82Undervalued by 20.46%vs CMP ₹48.00
MoS: +17% (Adequate)Confidence: 40/100 (Low)Models: 3 Under, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹2.3333%Over (-95.1%)
Net Asset ValueAssets₹32.9120%Over (-31.4%)
EV/EBITDAEnterprise₹68.2116%Under (+42.1%)
ROCE CapitalReturns₹184.8416%Under (+285.1%)
Revenue MultipleRevenue₹61.6815%Under (+28.5%)
Consensus (5 models)₹57.82100%Undervalued
Key Drivers: EPS CAGR -41.4% drags value — could be higher if earnings stabilize. | ROE 1.0% 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: -41.4% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

43
Chemiesynth (Vapi) Ltd scores 43/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health26/100 · Weak
ROCE 3.1% WeakROE 1.0% WeakD/E 1.28 High debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money50/100 · Moderate
Promoter holding at 62.4% Stable
Earnings Quality60/100 · Moderate
OPM stable around 11% SteadyWorking capital: -122 days (improving) Efficient
Quarterly Momentum60/100 · Moderate
Revenue (4Q): +36% YoY AcceleratingOPM: -1.2% (down 7.1% YoY) Margin pressure
Industry Rank20/100 · Weak
ROCE 3.1% vs industry 13.8% Below peersROE 1.0% vs industry 10.0% Below peers3Y sales CAGR: -14% 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.

Chemiesynth (Vapi) Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
50/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 0.0 vs Ind 143.3 | ROCE 3.1% | ROE 1.0% | CFO/NP N/A
Balance Sheet Stress
70/100
Stressed
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 1.28x | IntCov 0.0x | Current 0.65x | Borrow/Reserve 2.17x
Cash Flow Reliability
100/100
Strong
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹0 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII N/A | DII N/A | Prom 0.00 pp
Business Momentum
-42
Early weakness
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales -25.9% | Q NP -59.1% | Q OPM -4.0 pp
Derived FieldValueHow it is derived
Valuation Gap %+20.5%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves2.17xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII ChangeN/ALatest FII% minus previous FII%
DII ChangeN/ALatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-1Latest shareholder count minus previous count
Quarterly Sales Change-25.9%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-59.1%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change-4.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: March 31, 2026, 4:21 am

Market Cap 14.7 Cr.
Current Price 48.0
Intrinsic Value₹57.82
High / Low 48.0/35.8
Stock P/E
Book Value 32.8
Dividend Yield0.00 %
ROCE3.10 %
ROE0.99 %
Face Value 10.0
PEG Ratio0.00

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

View Share Price Target for Chemiesynth (Vapi) Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Gujchem Distillers India Ltd 165 Cr. 103 437/90.0179 3920.10 %0.21 %0.09 % 1.00
Elantas Beck India Ltd 6,592 Cr. 8,315 14,250/7,11144.6 1,2720.09 %21.2 %15.8 % 10.0
Crestchem Ltd 25.4 Cr. 84.7 230/73.011.4 26.91.18 %59.9 %44.1 % 10.0
Chemiesynth (Vapi) Ltd 14.7 Cr. 48.0 48.0/35.8 32.80.00 %3.10 %0.99 % 10.0
ARCL Organics Ltd 125 Cr. 156 435/15018.5 1080.00 %20.4 %16.8 % 10.0
Industry Average4,113.08 Cr1,348.11143.25384.560.50%13.78%9.96%7.56

All Competitor Stocks of Chemiesynth (Vapi) Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 7.124.854.394.373.224.452.855.473.886.683.976.875.09
Expenses 5.783.894.483.003.314.102.664.513.655.873.796.685.15
Operating Profit 1.340.96-0.091.37-0.090.350.190.960.230.810.180.19-0.06
OPM % 18.82%19.79%-2.05%31.35%-2.80%7.87%6.67%17.55%5.93%12.13%4.53%2.77%-1.18%
Other Income 0.000.000.000.000.000.010.000.000.000.010.000.000.00
Interest 0.150.160.120.210.110.260.090.170.340.200.250.270.26
Depreciation 0.300.330.300.320.320.360.340.380.360.330.390.360.38
Profit before tax 0.890.47-0.510.84-0.52-0.26-0.240.41-0.470.29-0.46-0.44-0.70
Tax % 5.62%44.68%0.00%0.00%0.00%-23.08%0.00%0.00%0.00%34.48%0.00%0.00%0.00%
Net Profit 0.840.26-0.510.85-0.52-0.20-0.240.42-0.470.19-0.46-0.44-0.70
EPS in Rs 2.740.85-1.662.77-1.69-0.65-0.781.37-1.530.62-1.50-1.43-2.28

Last Updated: March 3, 2026, 11:26 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 2:20 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 9.6311.135.123.0913.3211.2014.5619.9030.1820.9416.4318.8922.61
Expenses 9.1011.555.263.1712.679.2612.2714.3225.7118.3714.8816.6821.49
Operating Profit 0.53-0.42-0.14-0.080.651.942.295.584.472.571.552.211.12
OPM % 5.50%-3.77%-2.73%-2.59%4.88%17.32%15.73%28.04%14.81%12.27%9.43%11.70%4.95%
Other Income 0.130.020.030.270.460.060.120.020.940.000.010.010.01
Interest 0.300.290.230.190.190.090.280.480.500.590.710.830.98
Depreciation 0.250.280.200.180.520.460.550.781.051.171.301.401.46
Profit before tax 0.11-0.97-0.54-0.180.401.451.584.343.860.81-0.45-0.01-1.31
Tax % 0.00%0.00%0.00%0.00%0.00%19.31%17.09%17.74%29.79%32.10%-13.33%1,000.00%
Net Profit 0.11-0.97-0.54-0.180.391.171.313.562.720.56-0.39-0.11-1.41
EPS in Rs 0.36-3.16-1.76-0.591.273.814.2711.608.861.82-1.27-0.36-4.59
Dividend Payout % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-981.82%44.33%66.67%316.67%200.00%11.97%171.76%-23.60%-79.41%-169.64%71.79%
Change in YoY Net Profit Growth (%)0.00%1026.15%22.34%250.00%-116.67%-188.03%159.79%-195.35%-55.82%-90.23%241.44%

Chemiesynth (Vapi) 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:-14%
TTM:34%
Compounded Profit Growth
10 Years:7%
5 Years:%
3 Years:%
TTM:-191%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:%
Return on Equity
10 Years:11%
5 Years:11%
3 Years:0%
Last Year:-1%

Last Updated: September 5, 2025, 2:56 pm

Balance Sheet

Last Updated: March 3, 2026, 12:44 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 3.073.073.073.073.073.073.073.073.073.073.073.073.07
Reserves 0.70-0.28-0.82-1.05-0.660.521.835.398.108.668.277.917.01
Borrowings 6.466.708.178.028.017.699.7310.8611.6013.6315.5415.0215.21
Other Liabilities 3.002.741.271.581.483.593.187.556.865.654.496.197.27
Total Liabilities 13.2312.2311.6911.6211.9014.8717.8126.8729.6331.0131.3732.1932.56
Fixed Assets 10.4110.099.989.719.6210.6912.3120.3922.3824.5125.0825.8327.38
CWIP 0.000.000.000.000.000.241.340.000.000.000.000.000.00
Investments 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Other Assets 2.822.141.711.912.283.944.166.487.256.506.296.365.18
Total Assets 13.2312.2311.6911.6211.9014.8717.8126.8729.6331.0131.3732.1932.56

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -0.09-0.16-1.50-0.130.562.561.286.492.900.27-0.032.65
Cash from Investing Activity + 0.280.06-0.080.32-0.38-1.71-3.20-7.51-3.05-3.29-1.87-2.14
Cash from Financing Activity + -0.04-0.131.57-0.16-0.16-0.451.701.130.742.041.90-0.52
Net Cash Flow 0.15-0.23-0.020.030.010.40-0.220.110.59-0.980.01-0.01
Free Cash Flow 0.18-0.11-1.590.180.170.83-1.93-1.02-0.15-3.02-1.900.50
CFO/OP -17%38%1,071%162%86%145%66%122%89%32%8%121%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-5.93-7.12-8.31-8.10-7.36-5.75-7.44-5.28-7.13-11.06-13.99-12.81

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 12.5126.8931.3724.8127.1355.0839.8667.8641.6047.2447.1055.07
Inventory Days 126.6944.60136.35580.4116.18231.23217.06165.1780.99200.09386.19167.61
Days Payable 156.86126.75159.43741.9743.60605.79366.21695.35159.36200.78111.85201.64
Cash Conversion Cycle -17.66-55.268.29-136.75-0.29-319.48-109.29-462.31-36.7746.55321.4421.04
Working Capital Days -48.89-53.78-47.76-103.95-9.04-28.68-60.92-65.85-49.83-65.89-105.08-122.12
ROCE %3.04%-6.90%-3.21%-2.44%5.28%13.73%13.89%28.39%16.35%5.82%1.00%3.10%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 62.35%62.35%62.35%62.35%62.35%62.35%62.35%62.35%62.35%62.35%62.35%62.35%
Public 37.65%37.65%37.65%37.65%37.65%37.66%37.66%37.66%37.66%37.66%37.66%37.66%
No. of Shareholders 522522523523526525525525524524524523

Shareholding Pattern Chart

No. of Shareholders

Chemiesynth (Vapi) 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 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -0.35-1.261.818.8511.60
Diluted EPS (Rs.) -0.35-1.261.818.8511.60
Cash EPS (Rs.) 4.222.975.6112.2814.14
Book Value[Excl.RevalReserv]/Share (Rs.) 35.7736.9438.2036.3927.55
Book Value[Incl.RevalReserv]/Share (Rs.) 35.7736.9438.2036.3927.55
Revenue From Operations / Share (Rs.) 61.5253.5368.2198.3264.81
PBDIT / Share (Rs.) 7.145.048.3414.5818.03
PBIT / Share (Rs.) 2.570.804.5411.1515.49
PBT / Share (Rs.) -0.02-1.472.6512.5714.12
Net Profit / Share (Rs.) -0.34-1.261.818.8511.60
PBDIT Margin (%) 11.609.4112.2214.8327.82
PBIT Margin (%) 4.181.506.6511.3323.90
PBT Margin (%) -0.04-2.743.8812.7821.78
Net Profit Margin (%) -0.56-2.362.658.9917.89
Return on Networth / Equity (%) -0.96-3.424.7324.3042.11
Return on Capital Employeed (%) 3.871.166.5017.2226.86
Return On Assets (%) -0.32-1.231.799.1613.25
Long Term Debt / Equity (X) 0.730.750.710.671.07
Total Debt / Equity (X) 1.371.371.161.041.28
Asset Turnover Ratio (%) 0.590.520.691.070.89
Current Ratio (X) 0.460.530.600.680.65
Quick Ratio (X) 0.300.210.300.450.49
Inventory Turnover Ratio (X) 7.201.112.485.822.02
Interest Coverage Ratio (X) 2.752.224.419.3313.16
Interest Coverage Ratio (Post Tax) (X) 0.860.441.964.759.46
Enterprise Value (Cr.) 25.4723.7219.7516.160.00
EV / Net Operating Revenue (X) 1.351.440.940.530.00
EV / EBITDA (X) 11.6215.337.713.610.00
MarketCap / Net Operating Revenue (X) 0.550.500.290.180.00
Price / BV (X) 0.950.720.520.490.00
Price / Net Operating Revenue (X) 0.550.500.290.180.00
EarningsYield -0.01-0.040.090.480.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Chemiesynth (Vapi) Ltd. is a Public Limited Listed company incorporated on 24/04/1986 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L24110GJ1986PLC008634 and registration number is 008634. Currently company belongs to the Industry of Chemicals - Organic - Others. Company's Total Operating Revenue is Rs. 18.89 Cr. and Equity Capital is Rs. 3.07 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Chemicals - Organic - OthersPlot No 27, GIDC, Phase-1 Vapi, Valsad District Gujarat 396195Contact not found
Management
NamePosition Held
Mr. Sandip Satishbhai ZaveriManaging Director
Mr. Satish Bhogilal ZaveriNon Exe.Non Ind.Director
Mr. Rushabh Suresh MehtaNon Exe.Non Ind.Director
Mr. Pramod Gopaldas GujarathiIndependent Director
Mrs. Jigna PrajapatiIndependent Woman Director

FAQ

What is the intrinsic value of Chemiesynth (Vapi) Ltd and is it undervalued?

As of 05 April 2026, Chemiesynth (Vapi) Ltd's intrinsic value is ₹57.82, which is 20.46% higher than the current market price of ₹48.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (0.99 %), book value (₹32.8), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Chemiesynth (Vapi) Ltd?

Chemiesynth (Vapi) Ltd is trading at ₹48.00 as of 05 April 2026, with a FY2026-2027 high of ₹48.0 and low of ₹35.8. The stock is currently near its 52-week high. Market cap stands at ₹14.7 Cr..

How does Chemiesynth (Vapi) Ltd's P/E ratio compare to its industry?

Chemiesynth (Vapi) Ltd has a P/E ratio of , which is below the industry average of 143.25. This is broadly in line with or below the industry average.

Is Chemiesynth (Vapi) Ltd financially healthy?

Key indicators for Chemiesynth (Vapi) Ltd: ROCE of 3.10 % is on the lower side compared to the industry average of 13.78%; ROE of 0.99 % is below ideal levels (industry average: 9.96%). Dividend yield is 0.00 %.

Is Chemiesynth (Vapi) Ltd profitable and how is the profit trend?

Chemiesynth (Vapi) Ltd reported a net profit of ₹0 Cr in Mar 2025 on revenue of ₹19 Cr. Compared to ₹3 Cr in Mar 2022, the net profit shows a declining trend.

Does Chemiesynth (Vapi) Ltd pay dividends?

Chemiesynth (Vapi) Ltd has a dividend yield of 0.00 % at the current price of ₹48.00. 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 Chemiesynth (Vapi) 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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