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Choksi Lab Overview

Choksi Laboratories Ltd. (CLL), established in 1982 and headquartered in Indore, Madhya Pradesh, is a leading Indian contract research organization (CRO) specializing in analytical testing, calibration, and quality assurance services. With over four decades of experience, CLL operates six laboratories across India and employs more than 450 professionals, offering comprehensive solutions to industries such as pharmaceuticals, food and beverages, construction materials, chemicals, and environmental management. The company\'s service portfolio in...Read More

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Choksi Lab Key Financials

Market Cap ₹72 Cr.

Stock P/E 47.1

P/B 2.9

Current Price ₹103

Book Value ₹ 35.6

Face Value 10

52W High ₹236.7

Dividend Yield 0%

52W Low ₹ 81.9

Choksi Lab Share Price

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Volume
Price

Choksi Lab Quarterly Price

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Choksi Lab Peer Comparison

Choksi Lab Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 8 9 11 11 9 10 11 11 11 11
Other Income 0 0 0 0 0 0 0 0 0 0
Total Income 8 9 11 11 9 10 11 11 11 11
Total Expenditure 6 7 8 8 7 8 8 8 8 8
Operating Profit 2 2 4 3 2 3 4 3 3 3
Interest 1 1 1 1 1 1 1 1 1 1
Depreciation 1 1 1 2 2 2 2 2 2 2
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 1
Profit Before Tax 0 0 1 1 0 0 1 1 1 1
Provision for Tax 0 0 1 0 0 0 0 0 0 1
Profit After Tax 0 0 1 0 0 0 1 0 0 0
Adjustments 0 0 -0 0 0 0 0 0 0 0
Profit After Adjustments 0 0 1 0 0 0 1 0 0 0
Adjusted Earnings Per Share 0 0.1 1 0.6 0.1 0.2 1.3 0.6 0.3 0.4

Choksi Lab Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 22 22 29 31 34 28 26 30 34 37 42 44
Other Income 1 0 1 0 0 0 0 0 0 0 0 0
Total Income 23 22 30 32 34 28 26 30 35 37 42 44
Total Expenditure 17 17 24 25 26 25 22 21 24 26 30 32
Operating Profit 6 5 6 7 8 3 5 9 10 10 11 13
Interest 2 1 1 2 2 2 3 3 4 3 3 4
Depreciation 3 3 3 3 4 5 5 5 5 6 6 8
Exceptional Income / Expenses 0 0 0 0 0 -2 0 0 2 0 0 1
Profit Before Tax 1 1 1 2 2 -6 -3 0 4 2 2 4
Provision for Tax 0 0 0 1 1 -2 -0 0 1 1 1 1
Profit After Tax 1 1 1 1 2 -4 -3 0 3 1 2 1
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 1 1 1 1 2 -4 -3 0 3 1 2 1
Adjusted Earnings Per Share 1.3 1 1.3 1.9 2.3 -5.6 -3.7 0.3 4.6 1.6 2.2 2.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 14% 12% 8% 7%
Operating Profit CAGR 10% 7% 30% 6%
PAT CAGR 100% 0% 0% 7%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -15% 35% 59% 23%
ROE Average 7% 9% 3% 2%
ROCE Average 9% 11% 8% 7%

Choksi Lab Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 19 20 21 22 24 20 18 18 21 22 24
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 6 8 4 6 14 27 29 28 24 18 15
Other Non-Current Liabilities 1 1 1 1 4 2 2 2 2 3 2
Total Current Liabilities 12 14 14 16 13 14 16 16 13 19 24
Total Liabilities 38 43 41 45 55 64 65 63 59 62 65
Fixed Assets 19 18 20 26 35 33 50 47 45 43 48
Other Non-Current Assets 4 10 8 4 4 14 1 2 1 4 1
Total Current Assets 15 15 13 15 16 17 13 14 14 15 16
Total Assets 38 43 41 45 55 64 65 63 59 62 65

Choksi Lab Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 1 1 1 1 0 0 0 0 0 1
Cash Flow from Operating Activities 2 7 7 6 7 3 6 8 8 12 12
Cash Flow from Investing Activities -1 -7 -2 -5 -10 -14 -8 -3 -1 -7 -8
Cash Flow from Financing Activities -1 1 -5 -1 2 11 2 -5 -8 -5 -4
Net Cash Inflow / Outflow 0 0 -0 0 -1 0 -0 0 -0 0 -0
Closing Cash & Cash Equivalent 1 1 1 1 0 0 0 0 0 1 1

Choksi Lab Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 1.27 1.04 1.28 1.93 2.3 -5.58 -3.74 0.3 4.61 1.59 2.19
CEPS(Rs) 5.33 4.96 5.39 6.48 7.58 0.97 2.86 8.09 12.5 9.8 11.52
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 27.73 28.76 30.33 32.15 34.47 29.03 25.48 25.7 30.31 31.89 33.89
Core EBITDA Margin(%) 23.36 22.79 16.62 17.97 21.53 10.09 16.06 29.65 29.8 28 27.06
EBIT Margin(%) 13.41 10.61 9.66 10.01 11.36 -13.58 0.04 11.98 21.02 12.88 11.67
Pre Tax Margin(%) 6.27 5.11 4.55 5.49 6.8 -20.29 -10.93 1.22 10.81 4.53 5.15
PAT Margin (%) 4.01 3.24 3.1 3.83 4.74 -13.8 -10.15 0.69 9.32 3.02 3.65
Cash Profit Margin (%) 16.89 15.49 13.06 12.81 15.64 2.41 7.77 18.76 25.28 18.59 19.2
ROA(%) 2.31 1.8 2.15 3.16 3.2 -6.53 -4.06 0.32 5.24 1.83 2.41
ROE(%) 4.45 3.67 4.34 6.19 6.9 -17.57 -13.74 1.16 16.46 5.12 6.65
ROCE(%) 9.39 7.32 8.41 10.49 10.14 -8.27 0.02 6.75 13.9 9.18 9.45
Receivable days 129.38 139.36 110.28 96.82 100.96 102.27 107.63 112.09 110.99 104.68 94.63
Inventory Days 0 0 2.93 2.7 3.76 3.78 2.05 2.2 2.43 2.85 4.02
Payable days 6509.88 12405.93 541.1 549.74 591.84 763.82 800.65 813.96 479.72 408.62 551.15
PER(x) 5.98 10.61 13.31 13.39 6.11 0 0 85.46 7.26 26.6 54.94
Price/Book(x) 0.27 0.38 0.56 0.81 0.41 0.28 0.31 0.99 1.1 1.33 3.55
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.73 0.92 0.78 0.95 0.78 1.31 1.61 1.73 1.55 1.58 2.66
EV/Core EBITDA(x) 2.79 4 3.99 4.41 3.5 11.6 8.97 5.77 5.09 5.57 9.77
Net Sales Growth(%) 10.5 1.5 28.95 8.47 8.17 -16.56 -8.78 16.95 14.64 6.55 13.86
EBIT Growth(%) 4.54 -19.68 17.4 26.84 8.76 -199.78 100.27 35177.45 101.18 -34.73 3.21
PAT Growth(%) -24.37 -18.09 23.66 50.92 18.79 -342.77 32.88 107.94 1450.72 -65.43 37.26
EPS Growth(%) -24.37 -18.09 23.65 50.93 18.8 -342.76 32.88 107.94 1450.67 -65.43 37.26
Debt/Equity(x) 0.6 0.68 0.53 0.55 0.7 1.56 2.04 1.94 1.44 1.32 1.19
Current Ratio(x) 1.23 1.08 0.91 0.96 1.21 1.14 0.8 0.9 1.11 0.77 0.68
Quick Ratio(x) 1.23 1.08 0.89 0.94 1.18 1.13 0.8 0.89 1.1 0.75 0.66
Interest Cover(x) 1.88 1.93 1.89 2.22 2.49 -2.02 0 1.11 2.06 1.54 1.79
Total Debt/Mcap(x) 2.21 1.79 0.94 0.69 1.71 5.51 6.59 1.96 1.3 0.99 0.34

Choksi Lab Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 31.48 31.48 31.48 31.48 31.48 31.48 31.48 31.48 31.48 31.48
FII 0 0 0 0 0 1.94 4.31 5.69 5.69 6.03
DII 0 0 0 0 0 0 0 0 0 0
Public 68.52 68.52 68.52 68.52 68.52 66.58 64.21 62.83 62.83 62.49
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Choksi Lab News

Choksi Lab Pros & Cons

Pros

  • Company has reduced debt.

Cons

  • Promoter holding is low: 31.48%.
  • Company has a low return on equity of 9% over the last 3 years.
  • Debtor days have increased from 408.62 to 551.15days.
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