Chembond Material Technologies Limited

Key Metrics of Chembond Material Technologies Limited

Revenue₹210 Cr▲ 22.7% YoYFY 2025-26

EBITDA₹13.8 Cr▼ 36.8% YoY

Net profit₹7.76 Cr▼ 55.0% YoY

Net worth₹170 Cr▲ 3.4% YoY

Competitors10identified

About Chembond Material Technologies Limited

Sectors

IT Services & SoftwareIndian IT Services

Company details

Registered office: Plot No. El-71, Ttc Ind Area, Midc Electronic, Mahape,, Thane, In-mh, 400710
Listed: NSE: CHEMBOND · ₹168.01

Operational Areas of Chembond Material Technologies Limited

IT Services & Software›Indian IT Services

Company summary

Entity details

CINL24100MH1975PLC018235

LEI code33580032VMBC7SVBL550

State codeMH

PIN code400710

Current legal nameCHEMBOND MATERIAL TECHNOLOGIES LIMITED

Classification—

Listing statusListed (NSE: CHEMBOND)

Registration no.018235

Company age—

PAN—

CountryIndia

CityThane

StateMaharashtra

Current statusActive

Date of incorporation—

Registrar of companies—

Authorised capital—

Paid-up capital—

Employee count—

Compliance

Last AGM date—

Last balance sheet—

Next filing dueAOC-4 for FY 2025-26 · 30 Oct 2026

Industry classification

NIC code24100

Description of main activityManufacture of chemicals and chemical products (incl. pharmaceuticals)

Description of business activityManufacture of chemicals and chemical products (incl. pharmaceuticals)

SectorIT Services & Software · Indian IT Services

Premium

Financials, ratios and risk analysis

Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.

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Filing compliance

AGM for FY 2025-2630 Sep 2026 Statutory due date passed

AOC-4 for FY 2025-2630 Oct 2026 Statutory due date · 3 days left

MGT-7 for FY 2025-2629 Nov 2026 Statutory due date · 33 days left

Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.

Vendor checks & payment capacity

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Credit ratings

ICRA · 01 Sep 2026 ICRA BBB Stable outlook · Short term A3+ · Assigned

Change in last 12 months—

Change since first rating on record—since Sep 2026

Rating actions10 up · 0 down

Liquidity (ICRA)Adequate

Rating history

Rating actions

Date	Agency	Action	Long term	Short term	Outlook	Rated amount	Rationale
01 Sep 2026	ICRA	Assigned	BBB	A3+	Stable	₹65.0 Cr	View

Credit strengths (ICRA, Sep 2026)

+ Extensive promoter experience and established relationships with customers and suppliers

CMTL benefits from the promoters’ extensive experience of over four decades in the specialty chemicals industry and the company’s established operating track record.

+ Healthy capital structure and coverage metrics

CMTL’s capital structure remains healthy, supported by comfortable net worth and low dependence on external borrowings.

Credit challenges

− Moderate scale of operations and margins amid intense competition

CMTL’s scale of operations remains moderate, notwithstanding the healthy revenue growth in recent years, with an operating income of Rs. 250.1 crore in FY2026.

− Profitability exposed to raw material price volatility and delays in cost pass-through

CMTL’s profitability remains exposed to fluctuations in the prices of key raw materials, including resins, phosphoric acid and other chemical intermediates.

Could lead to an upgrade

The ratings could be upgraded if CMTL records a sustained increase in its scale and profitability while maintaining comfortable debt protection metrics and

Could lead to a downgrade

Pressure on the ratings could arise if a sustained decline in revenues or margins, a stretch in the working capital cycle, or a large debt-funded capex weakens the company’s debt protection metrics or

Agency-reported financials (ICRA, 01 Sep 2026)

Metric	FY2025	FY2026	Q1 FY2027
Operating income	₹201 Cr	₹250 Cr	₹72.40 Cr
PAT	₹17.60 Cr	₹12.90 Cr	₹5.70 Cr
OPBDITA/OI	6.8%	7.6%	4.1%
PAT/OI	8.7%	5.2%	7.9%
Total outside liabilities/Tangible net worth (times)	0.30×	0.30×	—
Total debt/OPBDITA (times)	0.20×	0.20×	—
Interest coverage (times)	21.60×	51.70×	48.40×
Revenue growth (YoY)	—	24.2%	—
EBITDA (margin × income)	₹13.69 Cr	₹19.01 Cr	₹2.97 Cr
Implied total debt (debt/EBITDA × EBITDA)	₹2.74 Cr	₹3.80 Cr	—
Implied interest cost (EBITDA ÷ coverage)	₹0.63 Cr	₹0.37 Cr	₹0.06 Cr

Borrowings & rated debt

Rated borrowing limits (latest)₹65.0 Cr

Limits raised0 times3 new facilities rated

Facility mix

Rated facilities

Facility	Type	Previous	Current	Change	Rating	Action	Agency
Long term – Fund based Cash credit	Working capital & bank lines	—	₹2.20 Cr	—	BBB (Stable)	Assigned	ICRA
Rated facility	Other	—	₹2.53 Cr	—	BBB / A3+ (Stable)	Assigned	ICRA
limits	Other	—	₹60.3 Cr	—	BBB / A3+ (Stable)	Assigned	ICRA

Credit assessment · Services

Rating Methodology – Service Sector Companies · Standalone accounts · FY 2025-26

Indicative long-term—

Indicative short-term—

Score—

LiquidityAdequate

DirectionStable

Ratios, pillar scores and the indicative rating are part of Premium.

Rating status

Default	No default on record
Issuer cooperation	Cooperating
Credit enhancement	None – standalone rating
Information on file	56% · missing: Capex / investment plans, Lender details, Auditor details, Recent rating review (last 15 months)

Indicative assessment from public data using the published methodology factors; not a credit rating.

Borrowing & funding lifecycle

⬇ PDF report ⬇ Excel

Can it borrow more?Further funding possible with conditions Next rating action stable or better: 71% (Mostly stable) · ML model on 4072 rating histories, AUC 0.666

Rated limits₹65.00 Cr

Not yet allocated—

Extra debt within 3.5× EBITDA—

Interest coverage48.40×

Limit utilisation—

Open bank charges0 · —

Credit outlook model: 71% chance the next rating action is stable or better
Current rating BBB (investment grade)
Interest coverage 48.4×

Rated limits by facility

Timeline

01 Sep 2026 ICRA assigned: BBB (Stable)Rated limits ₹65 cr ICRA rationale

01 Sep 2026 Cash & liquid funds ₹20.6 cr

From the report

The capital structure and coverage metrics are expected to remain comfortable, supported by healthy internal accruals and sizeable liquid investments of Rs. 20.6 crore as on March 31,2026.

ICRA rationale

01 Sep 2026 Cash & liquid funds ₹30.04 cr

From the report

Liquidity position: Adequate CMTL’s liquidity position is adequate, supported by sizeable free cash and liquid investments of Rs. 30.04 crore as on March 31,2026, healthy cash accruals and negligible utilisation of working capital limits.