Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Laxmi Organic Industries Limited (LXCHEM)
Micro CapChemicals stocks · Micro cap · NSE
Laxmi Organic Industries Limited manufactures specialty chemicals and intermediates, including diketene derivatives and acetyl intermediates, servicing pharma, agro, pigments, coatings, and packaging industries globally.
Data qualityFresh enough for analysisQuote updated 21 Oct, 05:57 pm ISTDetails
Quote21 Oct, 05:57 pm IST
Base fundamentals22 Oct 2026 · screener
Latest result30 Jul, 02:19 am IST
Score22 Oct, 05:17 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Chemicals P/E 33.5 (n=46)
Technical timing lens
Trend score and candlestick chart
50NeutralSMA20 +3.9% / mo · MACD − · sector -5.7pp vs Nifty 500 (3M)
Stock trend: 58
Sector RS: 39
Sector 3M: -11.3% vs Nifty 500 -5.6%
Chemicals FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
LXCHEMD candles · FIT view+8.2%Latest close ₹161.00 on 2026-10-21
Bar
-6.0%
RSI
39
MACD hist
-2.11
52W pos
53%
2026-10-21O ₹171.20H ₹172.66L ₹159.47C ₹161.00Vol 17.7L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
LXCHEMNifty ChemicalsNifty 500
- LXCHEM
- -11.3%
- Nifty 500
- -6.5%
- Nifty Chemicals
- -12.2%
- Vs Nifty 500
- -4.8 pp
Chart stats
21 Oct 2026- From 52W high
- -23.0%
- 52W range position
- 53%
- ATR (14)
- 5.5%
- Volume vs 20D
- 1.22x
- Avg traded value
- ₹27.6 Cr
- 20D price channel
- ₹159.5 - ₹193.8
₹209
₹107.6 - ₹209
₹8.9
Latest completed session
20-session average
59.6% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED27
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent100
Revenue +39.7% · PAT +223.8% YoY
Technical
Neutral50
Price trend and sector-relative-strength timing.
Valuation
Legacy model-777.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence63
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 100/100Rev +40% YoY · PAT +224% YoY · margin expansion · +32% QoQ · operating leverage
Filed 29 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹968 Cr | +39.7% | +31.7% |
| EBITDA | ₹114 Cr | +267.7% | +111.1% |
| Operating margin | 12.0% | +760 bps | +500 bps |
| PAT | ₹68 Cr | +223.8% | +209.1% |
| PAT margin | 7.0% | +399 bps | +403 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 35.60
- P/B
- 2.25
- EV/EBITDA
- 14.93
- Market Cap
- 4474.00Cr
Profitability
- ROE
- 4.11%
- ROCE
- 4.72%
- ROA
- 3.66%
- Dividend Y
- 0.17%
Growth (CAGR)
- Revenue 5Y
- 10.00%
- EPS 5Y
- -9.00%
- Revenue 3Y
- 1.00%
- EPS 3Y
- -14.00%
Balance Sheet
- Debt/Equity
- 0.28
- Interest Coverage
- 12.14×
- Altman Z
- 3.85
- Book Value
- 71.60
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 6/5
- OCF
- 175.00 Cr
- EPS TTM
- 4.54
Shareholding
- Promoter Hold
- 69.16%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 53%
Financial History
Updated 22/10/2026
Revenue
₹ CrLatest: 2,847-4.6% vs prev
Net Profit
₹ CrLatest: 79.0-30.7% vs prev
Return on Equity
%Latest: 144+2302.0% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 39. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~3.7% over last month) — short-term momentum positive.
- RSI(14) at 39 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 23% off 52W high · 50% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
53
RS percentile
Stage 1 Base / Transition
1M return
-9.4%
3M return
-11.3%
6M return
+12.8%
1Y return
-20.8%
RS 1D
-8
RS 20D
-11
Sector rank
#14
Industry rank
#45
Stage evidence
- Price is within 0.4% of the 30-week proxy.
- The 30-week proxy changed +5.1% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
weakening
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 81.51-5.04%
RS vs Nifty 50082
Valuation & peers
U-Score 27 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 27 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation3/30
Growth4/25
Quality0/20
Balance Sheet11/15
Cash Flow4/10
Piotroski
7/9 (+5)
Penalties
0
Raw sum
27
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
27/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 7/9.
- Balance sheet contributes 11/15 to the score.
- Cash flow contributes 4/10 to the score.
Main drags
- Fair-value margin of safety is negative at -777.7%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Valuation is weaker at 3/30; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
35.6
PB
2.3
EV/EBITDA
14.9
ROE
4.1%
ROCE
4.7%
FCF Yield
—
Debt/Equity
0.3
MoS
-777.7%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 22 Oct 2026
v4.3-runtime-valuation
Final score
27
Previous: 27
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-777.7%
Previous: -777.7%
Score history
12 stored score snapshots. Latest stored move: +2 points.
22 Oct 2026
v4.3-runtime-valuation
25
25
25
25
25
25
25
25
25
25
25
27
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹85.52
-88.3% MoS
Growth-justified P/E
4.0
Growth-justified Value
₹18.34
-777.7% MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Chemicals — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
REFEX
Micro
Refex Industries Limited
Retail
match 104
73
11.5
17.8%
+71%
UNDERVALUED
RAIN
Micro
Rain Industries Limited
Retail
match 102
40
14.3
0.6%
-1080%
WATCHLIST
PRAJIND
Micro
Praj Industries Limited
Retail
match 95
26
96.4
1.5%
-7860%
OVERVALUED
RENUKA
Micro
Shree Renuka Sugars Limited
Retail
match 94
14
—
—
—
OVERVALUED
TRIVENI
Micro
Triveni Engineering & Industries Limited
Retail
match 94
31
19.8
8.7%
-188%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-22T10:40:15.056Z
Management commentary snapshot
Q1 FY27 revenue grew 40% YoY and 32% QoQ to INR9,683 million, driven by a 10% volume growth, higher price realizations, and procurement efficiencies amidst raw material volatility.
The investment thesis remains intact. Scale benefits, end-to-end integration, and robust demand drove strong Q1 performance. Essentials EBITDA improved significantly, and the Dahej specialty project is nearing completion for a Q4 ramp-up.
Current business mix
Revenue by business vertical
Latest issuer-disclosed distribution across 2 reported categories.
Essentials Business75.0%
Specialty Business25.0%
Growth engines
Dahej Project Expansion
POSITIVEDahej Phase 2 capex is nearing completion, doubling diketene derivatives capability with commercialization and customer qualification targeted for Q3/Q4.
Electrochemical Fluorination Platform
POSITIVECompany holds first-mover advantage in India with a robust new product development pipeline leveraging electrochemical fluorination technology.
Scale and Integration in Essentials
POSITIVEGlobal economies of scale and end-to-end integration enable the company to capture upcycle benefits and secure customer requirements.
Capacity and execution
Dahej Project Phase 2
ON_TRACK85% of Phase 2 capex will be capitalized in Q2, with mechanical completion in Q3, customer qualification in Q3, and ramp-up in Q4.
World-scale Ethyl Acetate Capacity
COMPLETEDWorld-scale ethyl acetate capacity at the Lote site was successfully commissioned and is currently being deployed into the market.
Tailwinds
Global Capacity Restructuring
POSITIVEOngoing capacity restructuring, realignments, and shutdowns in Europe, Japan, and Korea benefit large players with economies of scale.
Positive Industrial Demand Momentum
POSITIVEPositive demand momentum observed in industrial solutions, coatings, and newer-age industries serviced by the company.
Headwinds
Logistics and Feedstock Disruptions
CAUTIONGeopolitical uncertainties, West Asia crises, Red Sea bottlenecks, and a South China typhoon created logistics disruptions and feedstock price spikes.
Customer Site Softness
CAUTIONDownstream pigment sites experienced certain softness, and feedstock volatility made buyers cautious with purchasing behavior.
Risk radar
Working Capital Inflation
MONITORNet working capital increased during the quarter due to strategic inventory procurement to secure raw material availability amidst volatility.
Essentials Margin Cyclicality
MONITOREssentials segment margins are subject to wide cyclical swings depending on daily and weekly raw material spread settlements.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Year-over-year comparison captures cyclical recovery and price realization trends, while quarter-on-quarter comparison reflects sequential momentum, spread changes, and project execution milestones.
Sector KPIs management disclosed
Volume Growth
POSITIVEEnterprise-level volume growth stood at around 10% for Q1 FY27, supported by double-digit volume growth in the Essentials segment.
Realizations & Spreads
POSITIVEEthyl acetate spreads in March and April were higher than the 12-year average range of $215-$220 per ton, driven by raw material price spikes.
Utilization & Capacity
POSITIVEWorld-scale ethyl acetate capacity at Lote has been commissioned, and Dahej Phase 2 capex is nearing completion for upcoming commercialization.
Management forward view
Normalizing Working Capital
PLANNEDManagement expects net working capital to normalize over time as volatile operating conditions stabilize.
Peak Debt Levels
ACHIEVEDTerm debt has peaked at approximately INR6,100 million with the nearing completion of the Dahej capex cycle, maintaining a net debt-to-equity of 0.3x.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Dahej Phase 2 Commissioning | Mechanical completion expected in early Q3 | Customer qualification in Q3 and commercial ramp-up in Q4 FY27 |
| Essentials Segment EBITDA Margins | Delivered 11% to 12% in Q1 FY27 | Sustainability over the cycle against historical mid single-digit averages |
| Net Debt and Working Capital | Term debt peaked at INR6,100 million; net D/E at 0.3x | Working capital normalization and commencement of debt repayments next year |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
63Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 38th percentile of the scored universe and 23rd percentile within Chemicals. Main check: financial discipline is weak at 30/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
90 docs text-extracted · 35 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
38th percentile
overall median 67 · Chemicals: 23rd pctile, median 73 · Micro: 21st pctile, median 73
Evidence depth
Financial-only
90 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
30
weak · capital discipline
Results
34
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 69.3%.
- ▸Promoter pledge is zero.
- ▸6 years of positive FCF.
Trust risks
- ▸ROCE is low at 4.7%.
- ▸ROE is low at 4.1%.
- ▸ROCE trend is -2.9%.
- ▸1/4 latest quarters had positive YoY PAT growth.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Laxmi Organic Industries Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Annual reportAug 2026
Aug 2026 · General Update Under Reg 36(1)(B) 14 Jul - 37th AGM scheduled for August 5, 2026; annual report 2025-26 web-link shared.
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 1d - Q1 FY27 earnings conference call scheduled for July 30, 2026 at 2:00 PM IST.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Jul - Laxmi Organic Industries has informed about copy of newspaper publication with respect to the Notice of 37th Annual General Meeting to be held on August …
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 31 Jul - Laxmi Organic Industries Limited has Submitted copy of Newspaper Publication of the Financial Results for the Quarter ended June 30, 2026.
Source: Bse
Announcement
Announcement Under Regulation 30 Of SEBI (LODR), 2015 23 Jun - Laxmi Organic clarified no undisclosed material information behind trading volume movement.
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
AnnouncementQ4 2026
Q4 2026 · Compliances-Reg.24(A)-Annual Secretarial Compliance 27 May - FY26 secretarial compliance report filed; minor delays noted in two Regulation 30 disclosures and SDD updates.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.