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20 Microns Limited (20MICRONS) Fair Value & Analysis

Basic Materials · IN · Market cap ₹7.1B

2M 20 Microns Limited 20MICRONS · NSE
Price₹190.90
Fair Value₹174.67
Upside-8.5%
Quality56/100
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Healthy Growth
Thin margins · 7.0% net margin
Low debt · generates free cash flow
0.63% dividend yield
Ranks above peers (13/14)
Moderate moat 48/100
Evidence: High Range ₹116.37 – ₹218.33 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from ₹321.95 to ₹174.67 (−45.7%) since Aug 6, 2026. Share price −7.0% over the past month.

A solid business, currently priced close to our fair value.

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What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (₹116.37 to ₹218.33) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹337.48 ₹35.49 Fair Value ₹174.67 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹35.49 – ₹337.48 · fair‑value band ₹116.37 – ₹218.33 · the ₹190.90 price screens above the ₹174.67 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

20 Microns Limited (20MICRONS) currently trades at ₹190.90, while our model-based Fair Value estimate is ₹174.67, implying the stock looks roughly 8.5% fairly valued today. The Quality Score stands at 56/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, 20 Microns Limited generated revenue of ₹9.5B at a net margin of 7.0%. Revenue grew 14.8% year over year. It earns a return on equity of 14.5%. Net debt stands at ₹741M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹116.37 (bear case) to ₹218.33 (bull case); at ₹190.90, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 32% below its 52-week high and 47% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -42% fair-value upside, at -9%, 20MICRONS screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹225.60 ₹362.89 ₹579.23 80
Residual Income ₹130.72 ₹166.45 ₹449.80 76
Rev-Margin DCF ₹259.85 ₹441.46 ₹670.53 74
All 26 models by family
DCF Models
FCF DCF ₹226.63 ₹375.45 ₹617.79 38
Owner Earnings ₹224.26 ₹371.38 ₹610.95 31
5Y Revenue Exit ₹259.85 ₹446.42 ₹698.29 39
5Y EBITDA Exit ₹246.73 ₹419.90 ₹633.86 41
5Y P/E Exit ₹234.57 ₹395.34 ₹575.75 38
10Y Revenue Exit ₹237.43 ₹407.12 ₹663.15 36
10Y EBITDA Exit ₹237.44 ₹388.34 ₹611.44 37
10Y P/E Exit ₹229.63 ₹370.95 ₹564.80 35
Earnings-Based
Graham-Dodd ₹128.78 ₹556.63 ₹760.95 54
Lynch FV ₹142.91 ₹204.15 ₹265.40 50
PEG = 1.0 ₹142.91 ₹204.15 ₹265.40 46
EPV ₹220.56 ₹252.50 ₹280.06 59
Dividend Discount
Gordon GGM ₹10.98 ₹21.87 ₹33.12 70
DDM Multi-Stage ₹10.98 ₹18.90 ₹23.09 61
Multiples
P/E Multiple ₹241.46 ₹321.95 ₹402.43 63
P/S Multiple ₹241.46 ₹321.95 ₹402.43 58
P/B Multiple ₹241.46 ₹321.95 ₹402.43 55
EV/EBIT ₹323.44 ₹425.16 ₹526.89 53
EV/EBITDA ₹279.88 ₹367.08 ₹454.29 54
EV/Revenue ₹282.75 ₹396.10 ₹509.45 43
Asset-Based
NCAV (Graham) ₹68.53 ₹91.83 ₹137.05 50
Growth DCF
Growth DCF ₹225.60 ₹362.89 ₹579.23 80
Rev-Margin DCF ₹259.85 ₹441.46 ₹670.53 74
Economic Profit
Residual Income ₹130.72 ₹166.45 ₹449.80 76
ROIC Compounder ₹243.68 ₹315.61 ₹407.24 72
Growth Earnings
Growth-Adj P/E ₹212.47 ₹303.53 ₹394.59 68

Widest divergence: DCF Models (₹388.34) versus Dividend Discount (₹18.90). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹9.5B
Revenue growth (YoY) +14.8%
Net margin 7.0%
Return on equity 14.5%
Free cash flow ₹617M FY2026
P/E ratio 10.1
More key figures
Operating margin 10.2%
EPS (TTM) ₹18.94
Dividend yield 0.6%
EPS growth (YoY) +15.8%
Net debt ₹741M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 58 · Market factors (momentum, volatility) 46

Profitability 66
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 38
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

20 Microns Limited manufactures and markets micronized industrial minerals and specialty chemicals primarily in India and internationally.

Full company description

20 Microns Limited manufactures and markets micronized industrial minerals and specialty chemicals primarily in India and internationally. The company offers industrial minerals, such as calcium carbonate, talc, hydrous and calcined kaolin, quartz, mica, ball clay, barytes, red oxide, feldspar, bentonite, dolomite, hydrated sodium calcium alumino silicate, perlite, ramming mass, silica, wollastonite, and graphite, as well as siliceous, bleaching, diatomaceous, and fuller earth. It also provides functional additives and specialty chemicals, including magnesium oxide, zinc oxide, titanium dioxide, semi reinforcing eco green filler, performance mineral additive, organo clays, mullite, desiccants, white pigment opacifiers, wax and wax additives, engineered kaolins, matting agents, fumed and precipitated silica, organoclays, rheology modifiers, flame retardants and smoke suppressant, dessicants, activators, buff TiO2, and synthetic barium sulfate and barytes; and 20MCC and MinFert products. It serves paints and coatings, casting oil and gas, petro chemicals, paper and packaging, friction materials, texture paints, oral care, ink and pigments, filtration, lubricants, plastics and polymer, welding electrodes, animal feed, brake composite, leather, textile, detergent and soaps, paper, rubber, cosmetics and personal care, ceramics, adhesive and sealant, battery and fuel cells, wire and cables, powder coating, constructions, building materials, oil-well drilling, agrochemicals, and foundry and other industries. 20 Microns Limited was incorporated in 1987 and is headquartered in Vadodara, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

20 Microns Limited reported revenue of ₹9.5B in FY2026 versus ₹6.1B in FY2022, a compound +11.8%/yr. Reported net income was ₹668M in FY2026, compounding +17.9%/yr from FY2022.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹9.5B
Latest YoY
+4.0%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.8%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.6%
Avg. growth/yr (19Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.4%
Revenue +11.8%/yr
FY22 ₹6.1B
FY23 ₹7.0B
FY24 ₹7.8B
FY25 ₹9.2B
FY26 ₹9.5B
Net income +17.9%/yr
FY22 ₹346M
FY23 ₹418M
FY24 ₹561M
FY25 ₹624M
FY26 ₹668M
Character of growth · EPS growth decomposed (2016-2026) +19.9 % p.a.
Revenue per share +10.5 pp

of which total revenue +10.5 pp · buybacks/dilution +0.0 pp

EBIT margin +18.6 pp
Tax rate +0.7 pp
Residual (interest, one-offs) −9.9 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "20 Microns Limited Fair Value". https://www.fairvalue-calculator.com/stock/20MICRONS

Peer Group

Other Industrial Metals & Mining · 480 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 56 · Top 25%
Fair Value upside −9% · Above median
Return on equity (TTM) 14% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 10% · Above median
Revenue growth 15% · Above median
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper

P/E (TTM) 10.1× · Cheaper than median
P/B 1.47× · Cheaper than median
P/S (TTM) 0.75× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 5.3× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 22 · sector 0
FUTURE 74 · sector 24
PAST 58 · sector 0
HEALTH 98 · sector 96
DIVIDEND 13 · sector 38

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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CMOC Group 603993 ¥19.00 ¥19.80 +4%
China Tungsten And Hightech Materials Co 000657 ¥70.43 ¥9.55 -86%
Hindustan Zinc Limited HINDZINC ₹584.60 ₹501.98 -14%
China Northern Rare Earth (Group) High-Tech Co 600111 ¥41.02 ¥10.59 -74%
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Frequently asked questions

Is 20 Microns Limited (20MICRONS) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹174.67 versus a price of ₹190.90, about −9% (fairly valued).
What is the fair value of 20MICRONS?
Our model-based fair value for 20 Microns Limited is ₹174.67 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹190.90.
What is the quality score of 20MICRONS?
20 Microns Limited has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of 20 Microns Limited (20MICRONS)?
20 Microns Limited reported trailing-twelve-month revenue of about ₹9.5B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 20MICRONS?
The net profit margin of 20 Microns Limited is about 7.0%, meaning it keeps roughly 7.0% of revenue as net income. Based on the latest reported figures.
Does 20 Microns Limited pay a dividend?
20 Microns Limited currently shows a dividend yield of about 0.63% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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