Meghmani Organics Limited (MOL) AI Stock Analysis

• Market Cap: ₹10.82B
• Dividend Yield: N/A
• Average Volume (3M): 53.48K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.31
• 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: 46 Neutral
• Price Target: ₹44.00 ▼(-32.09% Downside)
• Action: Reiterated Date: 03/19/26
• Date: Action: Reiterated 03/19/26

Overall score is weighed down primarily by weak financial performance (losses, high leverage, and negative free cash flow). Technicals are also bearish with a strong downtrend, despite oversold readings. Valuation provides limited support due to negative earnings and no dividend yield data.

Positive Factors

Diversified product mix

Meghmani Organics sells both pigments and crop-protection chemicals, giving it exposure to both industrial coatings/packaging and recurring agricultural demand. This product diversification reduces single-market dependence and supports revenue resilience across cycles over the next several months.

Specialized pigment capability

Manufacturing phthalocyanine pigments is a specialized activity with technical know-how and established customer relationships in paints, inks and plastics. Such product specialization creates barriers to entry and potential pricing differentiation, supporting longer-term margin stability versus commodity chemicals.

Manufacturing scale with export channels

A manufacturing footprint serving both domestic and export customers implies operational scale and market diversification. Access to export markets can smooth domestic demand shocks, enable better utilization of plants, and support longer-term revenue recovery if demand improves regionally.

Negative Factors

Declining revenue and recent net loss

Sustained revenue decline and a recent net loss indicate fundamental demand or competitive pressures and weaken the firm's ability to self-fund investment. Persisting losses erode retained earnings, limit strategic flexibility, and raise the hurdle for returning to consistent profitability within months.

High leverage

Elevated debt levels increase interest burden and refinancing risk, reducing financial flexibility. In a capital-intensive chemical business, high leverage constrains capacity to invest in maintenance or growth capex and heightens vulnerability to demand shocks or input cost increases over the medium term.

Persistent negative free cash flow

Consistent negative free cash flow signals the company cannot internally fund capex and operations, forcing reliance on external financing. That pressure can limit investments in efficiency or new products and raises liquidity risk if access to debt or equity is constrained over the coming quarters.

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

MOL primarily makes money by manufacturing chemicals and selling them to business customers and distributors in domestic and export markets. Its core revenue streams are (1) pigments: sales of phthalocyanine pigments and related pigment products supplied to formulators and manufacturers in industries such as coatings/paints, plastics, printing inks, and textiles; and (2) agrochemicals: sales of crop protection active ingredients and/or formulations supplied to agricultural input channels and other chemical companies, depending on product and market. Revenue is generated through order-based sales where pricing is driven by product type/grade, volumes, and market demand, and profitability is influenced by operating efficiency and raw material and energy costs typical to chemical manufacturing. Specific information on major customer names, partnership agreements, or the exact split of revenue by segment is null.

Meghmani Organics Limited Financial Statement Overview

Summary

Weak fundamentals: declining revenue, latest-year net loss, and volatile margins. High leverage and negative ROE add risk, while persistently negative free cash flow and insufficient operating cash to fund capex pressure liquidity.

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	23.13B	21.24B	15.48B	25.28B	24.73B	16.12B
Gross Profit	8.69B	8.60B	5.21B	4.79B	10.01B	6.93B
EBITDA	2.72B	1.87B	119.50M	4.10B	4.81B	3.11B
Net Income	396.62M	-106.01M	-1.06B	2.38B	3.04B	1.86B
Balance Sheet
Total Assets	32.85B	30.85B	30.40B	31.98B	27.98B	19.74B
Cash, Cash Equivalents and Short-Term Investments	412.99M	227.24M	330.74M	1.52B	117.22M	1.23B
Total Debt	8.41B	8.29B	8.37B	8.24B	4.99B	2.68B
Total Liabilities	17.45B	15.70B	15.12B	15.29B	13.31B	8.01B
Stockholders Equity	15.40B	15.15B	15.28B	16.69B	14.66B	11.73B
Cash Flow
Free Cash Flow	422.76M	-226.88M	-165.29M	-2.61B	-1.79B	1.24B
Operating Cash Flow	668.34M	662.22M	2.50B	2.04B	648.32M	3.33B
Investing Cash Flow	-211.79M	309.70M	-1.78B	-4.18B	-1.33B	-3.07B
Financing Cash Flow	-373.49M	-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: Positive
• 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 47.24, above the 50-day MA of 53.14, and below the 200-day MA of 74.96, indicating a bearish trend. The MACD of -3.29 indicates Positive momentum. The RSI at 34.05 is Neutral, neither overbought nor oversold. The STOCH value of 29.56 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	₹24.85B	23.71	―	0.65%	-10.12%	-22.38%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
IOLCP	60 Neutral	₹21.80B	29.38	―	0.97%	5.74%	16.06%
TNPL	58 Neutral	₹8.97B	36.69	―	2.08%	4.65%	-127.24%
DCW	53 Neutral	₹11.88B	85.72	―	0.16%	0.95%	488.81%
TATVA	53 Neutral	₹26.37B	51.39	―	0.07%	16.88%	0.69%
MOL	46 Neutral	₹10.82B	-115.81	―	―	―	―

Meghmani Organics Limited Corporate Events

Meghmani Organics Alerts Investors on Transfer of Unclaimed Dividends and Shares to IEPF

Meghmani Organics Limited has notified the stock exchanges that it has published newspaper advertisements on 19 February 2026 in the English and Gujarati editions of Financial Express. The notices advise shareholders with unclaimed dividends for seven consecutive years from FY 2018-19, whose shares are liable to be moved, to contact the company or its registrar and transfer agent before the transfer of such dividends and shares to the Investor Education and Protection Fund.

The disclosure underscores the company’s compliance with SEBI listing and IEPF regulations designed to safeguard dormant investor assets. It also serves as an important reminder for minority shareholders to regularize their claims to avoid losing direct ownership of their shares and related dividend rights when these are transferred to the government-managed IEPF account.

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.