Meghmani Organics Limited (MOL) AI Stock Analysis

• Market Cap: ₹13.40B
• Dividend Yield: N/A
• Average Volume (3M): 53.48K
• Price to Earnings (P/E): 33.1
• Beta (1Y): 1.27
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 1,720
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Agricultural Inputs
• EPS (TTM): -0.14
• Shares Outstanding: 254,314,210
• 10 Day Avg. Volume: 52,595
• 30 Day Avg. Volume: 53,476
• PEG Ratio: 1.75
• Price to Book (P/B): 1.10
• Price to Sales (P/S): 0.78
• P/FCF Ratio: -73.36
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 2.8
• Revenue Forecast (FY): ₹25.89B

• Rating: 45 Neutral
• Price Target: ₹56.00 ▼(-13.57% Downside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is held down primarily by weak financial performance (negative net income, negative free cash flow, and high leverage). Technical indicators also reflect a sustained downtrend with negative momentum. Valuation adds pressure due to a high P/E without any provided dividend yield to offset risk.

Positive Factors

Product diversification

Meghmani Organics sells both pigments and agrochemicals, providing diversified revenue streams across industrial and agricultural end markets. This manufacturing mix reduces reliance on a single cyclical segment and supports steadier cash flows and risk distribution over months.

Structural end‑market exposure

Exposure to coatings/plastics/printing and agricultural inputs ties the business to broad, long‑dated industrial and farming demand drivers. These structural markets typically sustain baseline consumption, supporting durable product demand beyond short‑term cycles.

Improving operating margin

Reported improvement in EBIT margin suggests the company can extract cost efficiencies or pricing power. Sustained margin gains would enhance cash generation potential and resilience, helping rebuild profitability even if top‑line recovery is gradual.

Negative Factors

Declining revenue and negative net income

Persistent revenue decline and a recent negative net income weaken core earning power and limit reinvestment capacity. Over several months, this trend can erode market position, constrain product development, and impair the firm's ability to compete on scale and pricing.

Negative free cash flow

Consistent negative free cash flow means operations do not generate enough cash to fund capital needs. This structural liquidity gap forces reliance on external financing, increases refinancing risk, and limits ability to invest for growth or reduce leverage over the medium term.

High leverage and weak returns

Elevated leverage combined with negative ROE amplifies solvency and earnings volatility. Higher interest burdens reduce operational flexibility and magnify downside in stressed months, limiting management's capacity to pursue strategic investments or cushion cyclical downturns.

Meghmani Organics Limited Business Overview & Revenue Model

Company Description

Meghmani Organics Limited manufactures and sells pigments and agrochemicals in India and internationally. It offers green and blue pigments, which are used in printing inks, paints and coatings, and plastics. The company also provides agrochemical products comprises insecticides, which include cypermethrin, chlorpyriphos, alpha cypermethrin, permethrin, bifenthrin, lambda-cyhalothrin, deltamethrin, profenophos, acetamiprid, emamectin benzoate, and fipronil; herbicides, such as triclopyr butoxy ethyl ester, as well as 2,4-D acid tech, sodium salt WP/SP, and EsterTech; intermediates, including cypermethric acid chloride, meta phenoxy benzaldehyde, meta phenoxy benzyl alcohol, monochloroacetic acid, high trans cypermethric acid chloride, and high cis cypermethric acid chloride; and technical and formulations that are used in crop protection, veterinary, public health, and wood protection applications. Meghmani Organics Limited was founded in 1986 and is based in Ahmedabad, India.

How the Company Makes Money

Meghmani Organics generates revenue through the production and sale of its core products, which include agrochemicals and pigments. The company's revenue model is primarily based on direct sales to distributors, wholesalers, and manufacturers in both domestic and international markets. Key revenue streams stem from the agrochemical sector, where it leverages its research and development capabilities to create effective crop protection solutions. Additionally, the company benefits from long-term contracts and strategic partnerships with agricultural firms and industrial manufacturers, enhancing its market reach and stability. The global demand for sustainable and eco-friendly chemicals also contributes positively to its earnings, allowing MOL to capitalize on emerging market trends.

Meghmani Organics Limited Financial Statement Overview

Summary

Financial health is strained: declining revenue, the latest year shows negative net income, and free cash flow has been negative with operating cash flow not covering capex. High leverage (elevated debt-to-equity) and negative ROE add risk, despite some improvement in EBIT margin.

Income Statement

The company displays declining revenue with negative growth in the recent year. Gross and net profit margins have been volatile, with the latest year showing a negative net income, impacting the overall profitability. While the EBIT margin has improved, EBITDA margin remains relatively low, indicating potential operational inefficiencies.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio, suggesting increased leverage and potential financial risk. The equity ratio is moderate, reflecting a balanced asset financing structure. Return on equity has been negative recently, indicating challenges in generating shareholder value.

Cash Flow

The cash flow statement reveals negative free cash flow over the past years, signaling potential liquidity issues. The operating cash flow is insufficient to cover capital expenditures, affecting the company's ability to fund operations without external financing. The free cash flow to net income ratio highlights a disconnect between profitability and cash generation.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	22.79B	21.24B	15.48B	25.28B	24.73B	16.12B
Gross Profit	9.00B	8.60B	5.21B	4.79B	10.01B	6.93B
EBITDA	2.34B	1.87B	119.50M	4.10B	4.81B	3.11B
Net Income	188.41M	-106.01M	-1.06B	2.38B	3.04B	1.86B
Balance Sheet
Total Assets	0.00	30.85B	30.40B	31.98B	27.98B	19.74B
Cash, Cash Equivalents and Short-Term Investments	226.82M	227.24M	330.74M	1.52B	117.22M	1.23B
Total Debt	0.00	8.29B	8.37B	8.24B	4.99B	2.68B
Total Liabilities	-15.15B	15.70B	15.12B	15.29B	13.31B	8.01B
Stockholders Equity	15.15B	15.15B	15.28B	16.69B	14.66B	11.73B
Cash Flow
Free Cash Flow	0.00	-226.88M	-165.29M	-2.61B	-1.79B	1.24B
Operating Cash Flow	0.00	662.22M	2.50B	2.04B	648.32M	3.33B
Investing Cash Flow	0.00	309.70M	-1.78B	-4.18B	-1.33B	-3.07B
Financing Cash Flow	0.00	-913.88M	-854.77M	2.34B	577.19M	-142.40M

Meghmani Organics Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 64.79
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MOL, the sentiment is Negative. The current price of 64.79 is above the 20-day moving average (MA) of 53.93, above the 50-day MA of 58.19, and below the 200-day MA of 77.33, indicating a bearish trend. The MACD of -1.78 indicates Negative momentum. The RSI at 41.41 is Neutral, neither overbought nor oversold. The STOCH value of 52.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MOL.

Meghmani Organics Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FCL	75 Outperform	₹27.03B	26.88	―	0.65%	-10.12%	-22.38%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
IOLCP	60 Neutral	₹21.43B	18.49	―	0.97%	5.74%	16.06%
TNPL	58 Neutral	₹9.47B	32.02	―	2.08%	4.65%	-127.24%
DCW	55 Neutral	₹14.01B	33.79	―	0.16%	0.95%	488.81%
TATVA	53 Neutral	₹28.51B	87.01	―	0.07%	16.88%	0.69%
MOL	45 Neutral	₹13.40B	33.05	―	―	―	―

Meghmani Organics Limited Corporate Events

Meghmani Organics Releases Q3 FY26 Investor Presentation on Unaudited Results

Meghmani Organics Limited has released an investor presentation detailing its unaudited financial results for the third quarter and nine months ended 31 December 2025, in line with disclosure requirements under SEBI’s listing regulations. The presentation, made available to stock exchanges and on the company’s website, is intended to update shareholders and market participants on the company’s recent financial performance and to enhance transparency and information access for investors.

Meghmani Organics Q3 Profit Slips on Export Weakness, Nine-Month Earnings Surge

Meghmani Organics reported a 13% year-on-year decline in standalone Q3 FY26 revenue to ₹484.9 crore, with EBITDA down 15% and net profit falling 26%, as lower export demand and reduced capacity utilisation in both crop protection and pigment segments weighed on performance. For the nine months to December 31, 2025, however, revenue grew 9% to ₹1,635.2 crore and EBITDA surged 75% to ₹202.5 crore, with net profit more than tripling, while management highlighted pressure from weaker US-driven export demand and the withdrawal of anti-dumping duty on TiO2 but expressed confidence that normalising raw material costs, potential re-imposition of duties, and expansion of the crop nutrition portfolio and international markets for Meghmani Nano Urea will support future profitability and market positioning.

Meghmani Organics Schedules Q3 FY26 Earnings Call for 2 February

Meghmani Organics Limited has announced that it will hold its earnings call for the third quarter of fiscal year 2025-26 on Monday, 2 February 2026 at 3:00 p.m. IST. Senior management, including the chairman and managing director, chief financial officer, and investor relations head, will address investors and analysts on the company’s Q3 FY26 financial results, signaling continued emphasis on transparent communication with capital markets participants and providing stakeholders an opportunity to gauge the firm’s operational and financial trajectory.

Meghmani Organics Closes Trading Window Ahead of December Quarter Results

Meghmani Organics Limited has announced the closure of its trading window for equity shares from 1 January 2026 until 48 hours after the declaration of its unaudited financial results for the quarter ending 31 December 2025, in line with SEBI’s Prohibition of Insider Trading regulations and the company’s internal code of conduct for insiders. The company has also appointed Central Depository Services Limited to enforce trading restrictions on designated persons and their immediate relatives by freezing PAN at the security level for its specified ISIN, underscoring tightened compliance and governance measures ahead of the forthcoming quarterly results, with the board meeting date for approving these results to be announced later.

Meghmani Organics Schedules Investor Meeting with Seven Canyon Funds

Meghmani Organics Limited has announced a scheduled meeting with Seven Canyon Funds, set to take place on December 2, 2025, in Ahmedabad. This meeting is part of the company’s ongoing engagement with investors and analysts to discuss its operations and strategies, reflecting its commitment to transparency and stakeholder communication.