INDOBORAX

Indo Borax & Chemicals Limited

Indo Borax & Chemicals Limited (INDOBORAX) financial statements and selected valuation metrics through 30 June 2026.

Commodities›Chemicals›Chemicals & Petrochemicals›Commodity Chemicals

indoborax.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹472.40
Market cap
1,514 Cr
Stock P/E
26.9
P/B
3.92
Dividend yield
0.2%
ROE (FY26)
13.0%
ROCE (FY26)
17.2%
Operating margin (FY26)
19.0%
OCF / EBITDA (FY26)
197.4%
OCF / EBITDA (3Y)
62.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Indo Borax makes boric acid, a boron chemical it sells in India to customers in the steel and refractory industry, pharma and personal care, and management describes itself as the market leader in boric acid.

Company snapshot

12thBy market cap

Ranked among 24 companies in Commodity Chemicals.

What we see

Positives
  • ✓Net margin of 23.3% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales47 Cr44 Cr45 Cr50 Cr38 Cr38 Cr50 Cr54 Cr58 Cr41 Cr63 Cr70 Cr
Operating expenses (approx.)37 Cr35 Cr34 Cr33 Cr29 Cr27 Cr40 Cr41 Cr47 Cr32 Cr50 Cr51 Cr
EBITDA10 Cr9 Cr12 Cr16 Cr9 Cr10 Cr10 Cr12 Cr10 Cr9 Cr13 Cr20 Cr
OPM %21.7%20.8%25.4%33.1%24.2%26.9%20.4%22.8%18.1%21.0%20.4%28.1%
Other income3 Cr3 Cr3 Cr3 Cr4 Cr4 Cr4 Cr3 Cr4 Cr4 Cr5 Cr3 Cr
Interest0.0014 Cr0.0027 Cr0.0018 Cr0.0010 Cr0.0013 Cr0.0043 Cr0.17 Cr0.0002 Cr0.0010 Cr0.0002 Cr0.06 Cr0.05 Cr
Depreciation0.57 Cr0.57 Cr0.59 Cr0.50 Cr0.52 Cr0.62 Cr1.00 Cr0.86 Cr0.86 Cr0.81 Cr0.63 Cr0.31 Cr
Profit before tax12 Cr11 Cr14 Cr19 Cr13 Cr14 Cr13 Cr14 Cr23 Cr12 Cr17 Cr22 Cr
Tax %27.3%27.5%20.2%27.0%29.3%33.8%19.9%29.0%27.9%23.7%16.7%26.1%
Net profit9 Cr8 Cr11 Cr14 Cr9 Cr9 Cr10 Cr10 Cr16 Cr9 Cr15 Cr16 Cr
EPS (₹)₹2.78₹2.56₹3.57₹4.37₹2.86₹2.83₹3.14₹3.18₹5.07₹2.89₹4.53₹5.07

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales67 Cr101 Cr128 Cr115 Cr144 Cr176 Cr225 Cr191 Cr175 Cr215 CrSign in free for the trailing twelve months
Operating expenses (approx.)56 Cr83 Cr108 Cr97 Cr100 Cr128 Cr163 Cr149 Cr129 Cr171 CrSign in free for the trailing twelve months
EBITDA10 Cr18 Cr20 Cr19 Cr44 Cr48 Cr62 Cr43 Cr46 Cr44 CrSign in free for the trailing twelve months
OPM %15.3%18.2%15.7%16.2%30.5%27.2%27.5%22.3%26.2%20.5%Sign in free for the trailing twelve months
Other income3 Cr4 Cr6 Cr5 Cr4 Cr3 Cr7 Cr12 Cr16 Cr15 CrSign in free for the trailing twelve months
Interest0.17 Cr0.03 Cr0.01 Cr0.0014 Cr0.04 Cr0.0084 Cr0.09 Cr0.0060 Cr0.18 Cr0.07 CrSign in free for the trailing twelve months
Depreciation1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr2 Cr2 Cr3 Cr3 CrSign in free for the trailing twelve months
Profit before tax12 Cr20 Cr24 Cr22 Cr47 Cr50 Cr69 Cr52 Cr59 Cr67 CrSign in free for the trailing twelve months
Tax %30.8%34.3%27.5%24.2%26.4%27.2%26.5%25.4%27.5%24.4%Sign in free for the trailing twelve months
Net profit8 Cr13 Cr18 Cr17 Cr34 Cr36 Cr51 Cr39 Cr43 Cr50 CrSign in free for the trailing twelve months
EPS (₹)₹24.89₹41.77₹54.64₹52.81₹106.76₹11.33₹15.80₹12.15₹13.25₹15.67Sign in free for the trailing twelve months
Dividend payout %————1.9%8.8%6.3%8.2%7.5%6.4%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr
Reserves91 Cr101 Cr118 Cr135 Cr170 Cr204 Cr252 Cr290 Cr332 Cr383 Cr
Borrowings1 Cr—————————
Other liabilities10 Cr12 Cr11 Cr10 Cr17 Cr14 Cr20 Cr18 Cr21 Cr18 Cr
Total liabilities106 Cr117 Cr132 Cr149 Cr190 Cr222 Cr275 Cr311 Cr357 Cr405 Cr
Fixed assets (net)21 Cr20 Cr19 Cr15 Cr14 Cr13 Cr16 Cr19 Cr21 Cr8 Cr
CWIP1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr
Investments23 Cr20 Cr68 Cr49 Cr105 Cr81 Cr89 Cr123 Cr137 Cr248 Cr
Loans & advances——0.05 Cr0.06 Cr0.24 Cr0.09 Cr0.07 Cr0.12 Cr0.11 Cr0.11 Cr
Inventories8 Cr10 Cr12 Cr10 Cr30 Cr65 Cr58 Cr22 Cr47 Cr32 Cr
Trade receivables5 Cr9 Cr9 Cr8 Cr9 Cr10 Cr13 Cr14 Cr16 Cr10 Cr
Cash & bank0.07 Cr5 Cr3 Cr41 Cr2 Cr36 Cr85 Cr120 Cr39 Cr14 Cr
Other assets47 Cr52 Cr20 Cr25 Cr29 Cr15 Cr13 Cr13 Cr96 Cr92 Cr
Total assets106 Cr117 Cr132 Cr149 Cr190 Cr222 Cr275 Cr311 Cr357 Cr405 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity21 Cr1 Cr15 Cr13 Cr16 Cr11 Cr60 Cr68 Cr-72 Cr87 Cr
Cash from investing-24 Cr5 Cr-16 Cr26 Cr-54 Cr26 Cr-8 Cr-30 Cr-7 Cr-77 Cr
Cash from financing-0.91 Cr-2 Cr-0.59 Cr-0.58 Cr-0.68 Cr-3 Cr-3 Cr-3 Cr-3 Cr-3 Cr
Net cash flow-4 Cr5 Cr-2 Cr38 Cr-39 Cr34 Cr49 Cr35 Cr-82 Cr7 Cr
Free cash flow (OCF − Capex)19 Cr1 Cr14 Cr13 Cr15 Cr11 Cr55 Cr63 Cr-79 Cr87 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %12.2%19.5%19.9%16.2%27.0%24.1%27.1%17.8%17.5%17.2%
ROE %8.4%12.8%14.4%12.2%19.8%17.6%19.9%13.3%12.7%13.0%
Debtor days28322726222121263318
Inventory days7362535617630821380209101
Days payable3720915322313132410
Cash conversion cycle6574716616730722293218109
OCF / EBITDA %202.0%6.5%73.5%70.7%35.8%24.0%97.3%158.8%-156.9%197.4%
OCF / EBITDA % (3 years)——75.2%51.1%52.8%36.6%56.9%91.5%37.3%62.5%
Debt / equity0.01—————————
Current ratio——8.239.465.159.489.5613.208.7620.85
Net debt / EBITDA0.13-0.25-0.12-2.20-0.05-0.75-1.38-2.80-0.85-0.31