Investor presentationSep 2026
Sep 2026 · PPT
Source: Nse
Neochem Bio Solutions Ltd. (NEOCHEM)
SME CapPharma stocks · SME cap · NSE
Neochem Bio Solutions Ltd. manufactures specialty performance chemicals and custom formulations across polymers, surfactants, silicones, and bio-based solutions for sectors including textiles, home and personal care, industrial cleaning, water treatment, and paints, operating from an Ahmedabad facility.
Data qualityFresh enough for analysisQuote updated 21 Oct, 05:57 pm ISTDetails
Quote21 Oct, 05:57 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result20 May, 11:37 pm IST
Score22 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 33.5 (n=187)
Technical timing lens
Trend score and candlestick chart
76BullishSMA20 +5.4% / mo · MACD − · sector +5.1pp vs Nifty 500 (3M)
Stock trend: 61
Sector RS: 97
Sector 3M: -0.7% vs Nifty 500 -5.8%
Pharma FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
NEOCHEMD candles · FIT view+29.1%Latest close ₹100.60 on 2026-10-21
Daily history is available from 2025-12-09; the requested 1Y window is partially covered.
Bar
-5.1%
RSI
45
MACD hist
-0.37
52W pos
65%
2026-10-21O ₹106.05H ₹106.05L ₹99.00C ₹100.60Vol 82,800 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
NEOCHEMNifty PharmaNifty 500
- NEOCHEM
- +11.8%
- Nifty 500
- -6.5%
- Nifty Pharma
- -2.0%
- Vs Nifty 500
- +18.3 pp
Chart stats
21 Oct 2026- From 52W high
- -16.9%
- 52W range position
- 65%
- ATR (14)
- 5.6%
- Volume vs 20D
- 3.21x
- Avg traded value
- ₹0.3 Cr
- 20D price channel
- ₹98 - ₹113.8
₹121
₹63 - ₹121
₹5.7
Latest completed session
20-session average
58.0% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend supports entry, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE56
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Bullish76
Price trend and sector-relative-strength timing.
Valuation
Legacy model+66.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence69
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 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹65 Cr | NDF | +38.3% |
| EBITDA | ₹11 Cr | NDF | NDF |
| Operating margin | 17.0% | NDF | NDF |
| PAT | ₹7 Cr | NDF | +16.7% |
| PAT margin | 10.8% | NDF | NDF |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 23.80
- P/B
- —
- EV/EBITDA
- 15.13
- Market Cap
- 183.00Cr
Profitability
- ROE
- 48.40%
- ROCE
- 27.20%
- ROA
- 9.82%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 32.16%
- EPS 5Y
- 169.13%
- Revenue 3Y
- 31.00%
- EPS 3Y
- 31.00%
Balance Sheet
- Debt/Equity
- 1.80
- Interest Coverage
- 3.74×
- Altman Z
- 3.79
- Book Value
- —
Cash Flow
- FCF Yield
- 0.49%
- FCF Positive Y
- 1/5
- OCF
- 2.59 Cr
- EPS TTM
- 6.62
Shareholding
- Promoter Hold
- 66.88%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 76%
Financial History
Updated 22/10/2026
Revenue
₹ CrLatest: 84.2+37.6% vs prev
Net Profit
₹ CrLatest: 7.8+330.6% vs prev
Return on Equity
%Latest: 39.2+161.6% 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 45. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~5.1% over last month) — short-term momentum positive.
- RSI(14) at 45 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 17% off 52W high · 60% 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
85
RS percentile
Stage 2 UptrendEstablished S2
1M return
-6.9%
3M return
+8.0%
6M return
+40.5%
1Y return
-
RS 1D
-2
RS 20D
+4
Sector rank
#1
Industry rank
#9
Stage evidence
- Price is 9.5% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +4.0%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
21 Aug 2026
S2 age
39 trading sessions
Sector
leading
Industry
leading
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
206 observations
21 Oct 2026Value 96.9-5.01%
RS vs Nifty 50097
Valuation & peers
U-Score 56 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 56 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Growth at Value
Fundamental score breakdown
U band · FAIR VALUEValuation16/30
Growth20/25
Quality19/20
Balance Sheet3/15
Cash Flow1/10
Piotroski
7/9 (+5)
Penalties
-8
Raw sum
56
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
56/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 7/9.
- Fair-value margin of safety is positive at 66.2%.
- Quality contributes 19/20 to the score.
Main drags
- Penalty bucket subtracts 8 points.
- Cash flow is weaker at 1/10; verify the latest quarterly trend.
- Balance sheet is weaker at 3/15; verify the latest quarterly trend.
Sector valuation model
Healthcare valuation: PE/EVEBITDA with regulatory and pipeline checks
Healthcare valuation needs both earnings quality and regulatory/pipeline context.
Primary lens
PE and EV/EBITDA adjusted for product mix and R&D/pipeline quality.
Secondary checks
USFDA risk, launch pipeline, margin trend, domestic vs export mix.
Main risk check
Regulatory setbacks or one-off product cycles can distort valuation.
PE
23.8
PB
—
EV/EBITDA
15.1
ROE
48.4%
ROCE
27.2%
FCF Yield
0.5%
Debt/Equity
1.8
MoS
+66.2%
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
56
Previous: 56
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+66.2%
Previous: +66.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
22 Oct 2026
v4.3-runtime-valuation
61
61
61
61
61
61
61
61
61
56
56
56
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
—
Growth-justified P/E
45.0
Growth-justified Value
₹297.9
+66.2% MoS
PEG
0.21
Comparable companies
Peers
Business-comparable peers in Pharma — 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
ACCPL
SME
Accretion Pharmaceuticals Ltd.
Pharmaceuticals
match 138
58
22.2
27.6%
+51%
FAIR VALUE
QUESTLAB
SME
Quest Laboratories Ltd.
Pharmaceuticals
match 138
70
11.3
16.6%
+78%
UNDERVALUED
CURIS
SME
Curis Lifesciences Ltd.
Pharmaceuticals
match 137
33
30.0
—
+58%
WATCHLIST
SOTAC
SME
Sotac Pharmaceuticals Ltd.
Pharmaceuticals
match 135
55
17.5
10.1%
+61%
FAIR VALUE
SATKARTAR
SME
Sat Kartar Shopping Ltd.
Pharmaceuticals
match 133
72
18.1
26.5%
+73%
UNDERVALUED
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 2026-10-22T07:41:39.946Z
Management commentary snapshot
FY26 revenue reached Rs 110.7 crores, representing a 32% increase YoY, driven by strong growth in EBITDA to Rs 22.6 crores (up 53% YoY) and PAT of Rs 12.0 crores (up 62% YoY), with plant capacity utilization improving to 52.7%.
Neochem delivers robust financial performance with strong 32% revenue CAGR over two years, expanding EBITDA margins to 20.4%, and improving utilization to 52.7%. Successful diversification into Home & Personal Care and international markets reduces single-segment risk, while strong balance sheet post-IPO supports growth.
Current business mix
Revenue Split (%) - FY26
Latest issuer-disclosed distribution across 2 reported categories.
Domestic95.0%
Export5.0%
Growth engines
Home & Personal Care Expansion
scalingHome & Personal Care segment contribution scaled from 2.18% in FY23 to 10.30% in FY25 and 14.21% by September 2025.
Sustainable and Bio-based Products
activeDevelopment of vegan softeners, phosphate-free chelating agents, clay-based scouring agents, and corn-glucose surfactants aligned with tightening environmental norms.
International Market Expansion
growingExport footprint expanded across 12 countries including Vietnam, Singapore, Canada, Australia, Indonesia, and others.
Capacity and execution
Ahmedabad Manufacturing Facility
operationalMaintains an ISO-certified installed manufacturing capacity of 22,000 MTPA at Moraiya, Ahmedabad, alongside 1,350 MT of storage capacity.
Tailwinds
China+1 Sourcing Shift
activeRising costs and stricter environmental rules in China are pushing global buyers to source specialty chemicals from India.
Import Substitution and Local Demand
activeStrong local demand and supportive policy are driving Indian firms to invest more in R&D and production capacity.
Tightening Sustainability Regulations
activeGlobal standards like REACH, ZDHC, and ESG are driving eco-friendly, low-VOC, and biodegradable product adoption.
Headwinds
Raw Material Price Volatility
notedCost of materials consumed increased to Rs 73.6 crores in FY26 from Rs 55.6 crores in FY25, impacting gross margins slightly.
Risk radar
Working Capital Intensity
elevatedTrade receivables increased to Rs 48.7 crores in FY26 from Rs 25.3 crores in FY25, and debtor days stood at 122 days.
Segment Concentration
monitoringDespite diversification into Home & Personal Care, the company historically maintains a substantial reliance on textile-related chemical applications.
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 YOY
Annual investor presentation and financial results for FY26 emphasize year-over-year operational growth, annual margin expansion, and multi-year historical financial performance trends.
Sector KPIs management disclosed
Plant Utilization
improvingCapacity utilization was 52.7% in FY26 (production of 11,589 MT against 22,000 MTPA capacity), compared to 41.8% in FY25 and 35.0% in FY24.
EBITDA Margin
improvingEBITDA margin stood at 20.4% in FY26, expanding from 17.2% in FY25 and 11.0% in FY24.
Gross Profit Margin
contractingGross profit margin was 31.0% in FY26, compared to 32.2% in FY25 and 34.2% in FY24.
Export Contribution
stableExport revenue contribution was 5% of total revenue in FY26, with domestic sales accounting for 95%.
Management forward view
Strategic Collaborations
ongoingSecured distribution tie-ups, including exclusive rights in India, Bangladesh, and Sri Lanka for a Netherlands partner's fluorine-free, bio-based repellents.
Process Innovation
prioritizedFocused on delivering chemistries like FabBrite and Ampinol RDP that cut customer processing time, water, and energy use to command pricing power.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Plant Utilization Rate | 52.7% in FY26 | Further ramp-up towards nameplate capacity of 22,000 MTPA. |
| Debtor Days | 122 days in FY26 | Improvement in collection cycles and cash conversion metrics. |
| Home & Personal Care Contribution | 14.21% as of Sept 2025 | Continued non-textile revenue diversification progress. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
69Limited 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 59th percentile of the scored universe and 46th percentile within Pharma. Main check: cash conversion is weak at 53/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
4 docs text-extracted · 1 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
59th percentile
overall median 67 · Pharma: 46th pctile, median 70 · SME: 77th pctile, median 64
Evidence depth
Financial-only
4 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
53
watch · profit to cash conversion
Balance sheet
61
acceptable · leverage and solvency
Discipline
90
strong · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 66.7%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.6%.
- ▸ROCE is 27.2%.
Trust risks
- ▸Only 1 years of positive FCF.
- ▸Debt/equity is 1.80.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Neochem Bio Solutions Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportSep 2026
Sep 2026 · General Updates 26 Aug - Neochem dispatched FY2025-26 annual report, scheduled 9th AGM on 21 September 2026.
Source: Nse
Annual reportSep 2026
Sep 2026 · Shareholders meeting 26 Aug - Neochem schedules 9th AGM on 21 Sep 2026 and dispatches FY26 annual report electronically.
Source: Nse
Investor presentationJul 2026
Jul 2026 · PPT
Source: Nse
Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Nse
Annual report
Annual Report 2026
Source: Nse
Investor presentationMar 2026
Mar 2026 · PPT
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.