Vikram Thermo (India) Ltd.

BSE: VIKRAMTH · Commodity Chemicals

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52W Range₹132 – ₹465

Snapshot

Unlock Vikram Thermo (India) Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Vikram Thermo (India) Ltd. specialises in the development, manufacturing, and marketing of pharmaceutical coating polymers and chemical products. The company serves both domestic and international markets with a product portfolio that includes Pharma Polymers and Diphenyl Oxide.

Business Model

The company generates revenue through the production and sale of specialised chemical compounds and pharmaceutical excipients. It operates as a manufacturer and supplier, leveraging its expertise in polymer chemistry to serve the pharmaceutical industry.

Growth Outlook

Growth is primarily driven by the expanding demand for pharmaceutical coating polymers within the global healthcare sector. The company continues to focus on its core chemical manufacturing capabilities to maintain its market position.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the cost of chemical feedstocks can significantly impact the company's operating margins.
  • Regulatory Compliance. The company must adhere to stringent international pharmaceutical quality standards, which may increase operational costs.
  • Foreign Exchange Risk. As an exporter, the company is exposed to currency fluctuations that may affect its international revenue realisations.
  • Sector Competition. The commodity chemicals sector is highly competitive, potentially pressuring pricing power and market share.

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Key Metrics

REVENUE

₹144 Cr

TTM · standalone

+16.7%YoY

NET PROFIT

₹44 Cr

TTM · standalone

+37.6%YoY

EPS

₹13.99

TTM · standalone

+37.4%YoY

RETURN ON EQUITY

31.5%

TTM · standalone

+5.3 ppYoY

RETURN ON CAPITAL EMPLOYED

41.6%

TTM · standalone

+7.5 ppYoY

P/E

29.0×

Q1 FY27 · standalone

29.0 vs 77.3x5Y avg

EV/EBITDA

21.2x

Q1 FY27 · standalone

21.2 vs 46.5x5Y avg

EBITDA MARGIN

43.7%

TTM · standalone

+6.0 ppYoY

NET PROFIT MARGIN

35.1%

Q1 FY27 · standalone

+7.3 ppYoY

DEBT TO EQUITY

0.0x

Q1 FY27 · standalone

-0.02xYoY

Peers · Commodity Chemicals

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Vikram Thermo (India) Ltd.VIKRAMTH
₹1,338 Cr29.0×21.2116.7%43.7%31.5%41.6%+143.6%
Indo Borax & Chemicals LimitedINDOBORAX
₹1,484 Cr26.7×22.0429.7%28.7%15.6%20.4%+93.8%
Citurgia Biochemicals Ltd.CITURGIA
₹1,394 Cr———————
Innovassynth Technologies (India) LimitedINOVSYNTH
₹1,351 Cr133.3×83.15—13.6%15.1%10.8%+72.8%
The Andhra Sugars LimitedANDHRSUGAR
₹1,290 Cr11.7×4.8916.5%10.3%6.7%7.9%+20.4%
TGV SraacTGVSL
₹1,162 Cr9.4×4.03—18.8%10.2%12.6%-0.6%

As of Q1 FY27

Financials