Trading · Founded 2012 · www.chdchemicals.com · BSE 539800 · · ISIN INE043U01010
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Business
CHD Chemicals Ltd. operates in the trading sector, specifically focused on chemicals. Its core business model involves sourcing various chemicals from manufacturers and suppliers, and then distributing them to industrial customers, other traders, or end-users. The company primarily makes money through the margin on sales (the difference between its purchase price and selling price), potentially supplemented by fees for logistics, storage, or specific distribution services. Its role is that of an intermediary in the chemical supply chain.
Revenue Mix
Specific breakdowns of key segments or detailed revenue mix are not available from the provided information. Given its industry, the company's revenue would primarily be derived from the trading of chemicals, which might be further segmented internally by chemical type (e.g., specialty chemicals, bulk chemicals), application industries (e.g., textile, pharmaceutical, agriculture), or geographical regions.
Industry
The chemical trading industry in India is generally fragmented and competitive, characterized by numerous players ranging from large distributors to small local traders. Competition revolves around price, product availability, reliability of supply, credit terms, and logistical efficiency. CHD Chemicals Ltd., as a trading company, likely positions itself by offering a specific range of chemicals, developing strong supplier relationships, providing timely delivery, and catering to the needs of its customer base. Its specific positioning relative to peers would depend on its market share, product specialization, and operational scale, which are not detailed here.
MOAT
Trading businesses typically possess weaker moats compared to manufacturing or technology companies. For CHD Chemicals Ltd., potential advantages could include:
Established Relationships: Long-standing, reliable relationships with key chemical manufacturers (for sourcing) and industrial customers (for sales).
Supply Chain Efficiency: Expertise in logistics, warehousing, and inventory management that allows for competitive pricing and timely delivery.
Product Expertise: In-depth knowledge of specific chemicals, their applications, and market dynamics.
Scale in Procurement/Distribution: If of sufficient size, it might achieve better pricing from suppliers or more efficient distribution networks.
However, these advantages are often incremental and can be challenging to sustain against determined competitors.
Growth Drivers
Industrial Growth in India: Increased manufacturing and industrial activity across various sectors will drive higher demand for chemicals.
Expansion of Product Portfolio: Adding new types of chemicals or expanding into higher-margin specialty chemicals can open new revenue streams.
Geographical Expansion: Extending reach to new regions or customer segments within India or potentially abroad.
Strengthening Supplier/Customer Networks: Securing exclusive distribution rights for popular chemicals or deepening relationships with large industrial buyers.
Improved Efficiency: Optimizing supply chain and logistics can enhance competitiveness and profitability.
Risks
Commodity Price Volatility: Fluctuations in the prices of chemicals can significantly impact margins, especially for a trading company.
Intense Competition: The fragmented nature of the trading industry can lead to price wars and pressure on profitability.
Supply Chain Disruptions: Issues with sourcing from manufacturers, logistics, or transportation can lead to stock shortages, delivery delays, and loss of business.
Working Capital Management: Trading businesses often require significant working capital to manage inventory and credit extended to customers, exposing them to financial risks if not managed effectively.
Regulatory Changes: New regulations concerning the import, storage, handling, or disposal of chemicals could increase operational costs or restrict business.
Economic Downturn: A slowdown in the broader industrial economy would directly reduce demand for chemicals.
Management & Ownership
Detailed information about the promoters, specific management quality, or ownership structure for CHD Chemicals Ltd. is not provided. In many Indian companies, especially those of a certain size, promoter families often retain significant ownership and control, influencing strategic direction. Management quality would typically be assessed based on their experience in the chemical industry, track record of navigating market cycles, and ability to foster strong business relationships.
Outlook
CHD Chemicals Ltd. operates in the foundational chemical trading sector within India, a market whose demand is closely tied to the country's overall industrial and economic growth. The company's prospects are balanced between significant opportunities and inherent challenges. On the upside, a growing Indian economy and expanding manufacturing base will likely drive sustained demand for a wide range of chemicals, presenting avenues for growth through market expansion and product portfolio diversification. The company's ability to forge and maintain strong relationships with both suppliers and customers, coupled with efficient supply chain management, will be crucial for capturing this demand.
However, the trading sector is highly competitive and often characterized by thin margins, especially for bulk chemicals. The company faces risks from volatile chemical prices, potential supply chain disruptions, and intense competition which can erode profitability. Effective working capital management is paramount given the inventory and credit requirements. Success for CHD Chemicals Ltd. will depend on its agility in responding to market dynamics, its expertise in sourcing and distribution, and its capacity to differentiate through service or specialized offerings in an otherwise commoditized industry.
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 4 | 2 | 2 | 3 | 1 | 1 | 1 | 1 | 2 | 2 |
| Other Income | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 4 | 2 | 2 | 3 | 2 | 1 | 1 | 1 | 2 | 2 |
| Total Expenditure | 4 | 2 | 2 | 3 | 1 | 1 | 1 | 1 | 2 | 2 |
| Operating Profit | 0 | -0 | 0 | -0 | 0 | -0 | 0 | 0 | 0 | -0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | -0 | 0 | -0 | 0 | -0 | -0 | -0 | -0 | -0 |
| Provision for Tax | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | -0 | 0 | -0 | 0 | -0 | -0 | -0 | -0 | -0 |
| Adjustments | 0 | 0 | 0 | -0 | 0 | 0 | -0 | 0 | -0 | -0 |
| Profit After Adjustments | 0 | -0 | 0 | -0 | 0 | -0 | -0 | -0 | -0 | -0 |
| Adjusted Earnings Per Share | 0 | -0.4 | 0.2 | -0.4 | 0.1 | -0.2 | -0.1 | -0 | -0 | -0.1 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 14 | 44 | 40 | 43 | 35 | 76 | 87 | 69 | 32 | 19 | 16 | 6 |
| Other Income | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 14 | 44 | 40 | 43 | 36 | 76 | 87 | 69 | 32 | 19 | 16 | 6 |
| Total Expenditure | 14 | 44 | 40 | 42 | 35 | 75 | 85 | 69 | 31 | 18 | 15 | 6 |
| Operating Profit | 0 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Profit After Tax | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 1 | 0 | 0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 1 | 0 | 0 | 0 |
| Adjusted Earnings Per Share | 0.6 | 0.6 | 0.5 | 0.5 | 0.6 | 0.7 | 0.5 | 0.1 | 0.5 | 0.1 | 0.3 | -0.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -16% | -39% | -27% | 1% |
| Operating Profit CAGR | 0% | 0% | -13% | 0% |
| PAT CAGR | 0% | 0% | -100% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 21% | 7% | -4% | -3% |
| ROE Average | 2% | 2% | 2% | 5% |
| ROCE Average | 3% | 2% | 3% | 8% |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 1 | 4 | 6 | 9 | 11 | 12 | 13 | 13 | 13 | 13 | 13 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 1 | 0 | 0 | 0 | 1 | 1 | 1 | 3 | 16 | 6 | 5 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | -0 | -0 | -0 |
| Total Current Liabilities | 12 | 16 | 19 | 14 | 10 | 22 | 30 | 27 | 11 | 7 | 5 |
| Total Liabilities | 14 | 20 | 25 | 23 | 23 | 36 | 44 | 43 | 40 | 27 | 23 |
| Fixed Assets | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 13 | 19 | 24 | 22 | 21 | 35 | 43 | 42 | 39 | 26 | 22 |
| Total Assets | 14 | 20 | 25 | 23 | 23 | 36 | 44 | 43 | 40 | 27 | 23 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 1 | 1 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Cash Flow from Operating Activities | -1 | -3 | 1 | -5 | 1 | -3 | 2 | -4 | -13 | 11 | 3 |
| Cash Flow from Investing Activities | -1 | -0 | -0 | -0 | -1 | 0 | 0 | 0 | -0 | -0 | 0 |
| Cash Flow from Financing Activities | 2 | 3 | 2 | 2 | 1 | 2 | -3 | 4 | 13 | -11 | -3 |
| Net Cash Inflow / Outflow | 1 | -0 | 3 | -3 | 1 | -1 | 0 | 0 | -0 | 0 | -0 |
| Closing Cash & Cash Equivalent | 1 | 1 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| # | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.63 | 0.62 | 0.52 | 0.54 | 0.58 | 0.65 | 0.52 | 0.06 | 0.5 | 0.06 | 0.26 |
| CEPS(Rs) | 0.77 | 0.86 | 0.77 | 0.78 | 0.83 | 0.94 | 0.8 | 0.28 | 0.66 | 0.28 | 0.48 |
| DPS(Rs) | 0 | 0 | 0 | 0.1 | 0 | 0 | 0 | 0.15 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 10.63 | 11.01 | 11.24 | 11.46 | 11.63 | 12.16 | 12.74 | 12.67 | 13.19 | 12.92 | 13.17 |
| Core EBITDA Margin(%) | 1.38 | 1.38 | 1.66 | 2.33 | 1.48 | 1.95 | 1.52 | 0.99 | 2.62 | 3.29 | 4.99 |
| EBIT Margin(%) | 1.25 | 1.29 | 1.58 | 2.07 | 2.98 | 1.63 | 1.26 | 0.7 | 2.21 | 2.42 | 3.85 |
| Pre Tax Margin(%) | 0.84 | 0.68 | 0.95 | 1.22 | 1.98 | 1.17 | 0.84 | 0.15 | 0.74 | 0.46 | 2.14 |
| PAT Margin (%) | 0.6 | 0.47 | 0.67 | 0.8 | 1.47 | 0.86 | 0.61 | 0.08 | 1.62 | 0.34 | 1.59 |
| Cash Profit Margin (%) | 0.73 | 0.66 | 0.99 | 1.16 | 2.09 | 1.25 | 0.93 | 0.41 | 2.12 | 1.49 | 2.97 |
| ROA(%) | 1.22 | 1.24 | 1.22 | 1.45 | 2.24 | 2.24 | 1.33 | 0.13 | 1.23 | 0.2 | 1.04 |
| ROE(%) | 11.85 | 8.07 | 5.65 | 5.23 | 5.83 | 5.84 | 4.2 | 0.43 | 3.9 | 0.5 | 1.96 |
| ROCE(%) | 15.52 | 14.39 | 9.4 | 9.5 | 9.27 | 8.87 | 6.99 | 2.87 | 2.68 | 1.67 | 2.97 |
| Receivable days | 286.17 | 110.07 | 151.27 | 152.07 | 186.84 | 111.77 | 138.38 | 188.3 | 385.81 | 484.16 | 403.43 |
| Inventory Days | 31.21 | 15.73 | 23.5 | 24.44 | 25.15 | 14.58 | 18.95 | 27.77 | 67.84 | 109.68 | 111.75 |
| Payable days | 158.88 | 111.27 | 136.97 | 117.72 | 116.96 | 70.07 | 102.85 | 141.05 | 185.51 | 109.86 | 88.72 |
| PER(x) | 0 | 0 | 0 | 19.55 | 0 | 28.07 | 67.23 | 307.27 | 15.66 | 70.22 | 24.68 |
| Price/Book(x) | 0 | 0 | 0 | 0.92 | 0 | 1.51 | 2.76 | 1.33 | 0.6 | 0.35 | 0.48 |
| Dividend Yield(%) | 0 | 0 | 0 | 0.95 | 0 | 0 | 0 | 0.89 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.12 | 0.11 | 0.1 | 0.21 | 0.25 | 0.29 | 0.43 | 0.33 | 0.86 | 0.69 | 0.77 |
| EV/Core EBITDA(x) | 8.59 | 7.32 | 5.61 | 8.45 | 6.82 | 14.38 | 27 | 31.71 | 31.69 | 19.26 | 14.63 |
| Net Sales Growth(%) | 0 | 208.84 | -9.16 | 7.29 | -19.01 | 117.57 | 13.37 | -20.01 | -54.42 | -39.52 | -14.9 |
| EBIT Growth(%) | 0 | 217.1 | 11.61 | 40.74 | 16.61 | 18.58 | -12.43 | -55.32 | 43.82 | -33.93 | 35.59 |
| PAT Growth(%) | 0 | 142.54 | 29.47 | 27.6 | 48.76 | 28.02 | -19.92 | -89.48 | 817.45 | -87.16 | 294.05 |
| EPS Growth(%) | 0 | -3.03 | -15.27 | 2.99 | 8.4 | 12.16 | -19.93 | -89.48 | 817.45 | -87.16 | 293.98 |
| Debt/Equity(x) | 0.59 | 0.5 | 0.36 | 0.36 | 0.1 | 0.33 | 0.15 | 0.49 | 1.48 | 0.7 | 0.5 |
| Current Ratio(x) | 1.1 | 1.2 | 1.29 | 1.54 | 2.1 | 1.55 | 1.44 | 1.54 | 3.62 | 3.49 | 4.48 |
| Quick Ratio(x) | 1 | 1.04 | 1.26 | 1.33 | 1.94 | 1.35 | 1.29 | 1.32 | 3.27 | 2.72 | 3.65 |
| Interest Cover(x) | 3.02 | 2.12 | 2.51 | 2.43 | 2.97 | 3.55 | 3 | 1.27 | 1.5 | 1.23 | 2.24 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0.39 | 0 | 0.22 | 0.05 | 0.36 | 2.47 | 1.98 | 1.04 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 27.49 | 27.49 | 27.49 | 27.49 | 27.49 | 27.49 | 27.49 | 27.49 | 27.49 | 27.49 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 |
| Public | 72.32 | 72.32 | 72.32 | 72.32 | 72.32 | 72.32 | 72.32 | 72.32 | 72.32 | 72.32 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -16% | -39% | -27% | +1% |
| Operating Profit CAGR | 0% | 0% | -13% | — |
| PAT CAGR | — | — | -100% | — |
| Share Price CAGR | +21% | +7% | -4% | -3% |
| ROE Average | +2% | +2% | +2% | +5% |
| ROCE Average | +3% | +2% | +3% | +8% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 27.49 | 27.49 | 27.49 | 27.49 | 27.49 | 27.49 | 27.49 | 27.49 | 27.49 | 27.49 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 |
| Public | 72.32 | 72.32 | 72.32 | 72.32 | 72.32 | 72.32 | 72.32 | 72.32 | 72.32 | 72.32 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 |
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