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Indo Borax & Chemicals Limited (524342) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Indo Borax & Chemicals Limited ₹915, price ₹471, upside +94.2%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Broad data
Sep 24, 2026
Indo Borax & Chemicals Limited
524342 · BSEClearly undervaluedStrong Fair Value upside, but quality is only moderate.
✓Fair value ₹915.03 · Strongly undervalued (+94.2%)
!Quality 52/100
!Expensive Growth (revenue 5y +8.7 %/yr)
✓Solidly profitable · 16.9% net margin (TTM)
✓Low debt
!0.4% dividend yield · Token dividend
✓Wide moat 67/100
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹64.97 – ₹514.50 · fair‑value band ₹836.31 – ₹1,150 · the ₹471.30 price screens below the ₹915.03 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Indo Borax & Chemicals Limited engages in manufacturing and selling of boron and lithium products in India. The company offers borax products, such as decahydrate crystals and decahydrate granular products; boric acid products that include I.P.
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Indo Borax & Chemicals Limited engages in manufacturing and selling of boron and lithium products in India. The company offers borax products, such as decahydrate crystals and decahydrate granular products; boric acid products that include I.P. grade boric acid products, tech grade granular products, and tech grade powers; and lithium hydroxide monohydrate products. Indo Borax & Chemicals Limited was founded in 1980 and is based in Mumbai, India.
Stock analysis
Indo Borax & Chemicals Limited (524342) currently trades at ₹471.30, while our model-based Fair Value estimate is ₹915.03, implying the stock looks roughly 48.5% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹2,470 per share, and 15 of the 17 models we run sit above the ₹471.30 price.
Bear case: the Dividend Discount group reads lowest at ₹151.24, and 2 of the 17 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹836.31 (bear) to ₹1,150 (bull), the price of ₹471.30 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Indo Borax & Chemicals Limited reported revenue of ₹1.8B in FY2025 versus ₹1.4B in FY2021, a compound +5.0%/yr. Reported net income was ₹425M in FY2025, compounding +5.5%/yr from FY2021.
Key figures
Market cap ₹1.1B (≈ $10.9M) · P/E ratio 6.8 · P/S ratio 1.65 · EPS (TTM) ₹54.47 · Dividend yield 0.4% · Net margin 24.3% · Return on assets (EBIT) 19.0% · Operating margin 19.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 103% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −24% fair-value upside, at 94%, 524342 screens cheaper than that median.
Fair Value models
Bear ₹836.31
Fair Value ₹915.03
Bull ₹1,150
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (₹52.47 per share) are deliberately not added.
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Owner Earnings
₹1,512
₹2,470
₹4,002
75
Residual Income
₹972.40
₹1,167
₹1,730
75
EPV
₹1,281
₹1,466
₹1,626
74
All 17 models by family
DCF Models
Owner Earnings
₹1,512
₹2,470
₹4,002
75
Earnings-Based
Graham-Dodd
₹900.70
₹3,717
₹5,065
64
Lynch FV
₹936.47
₹1,338
₹1,739
61
PEG = 1.0
₹936.47
₹1,338
₹1,739
57
EPV
₹1,281
₹1,466
₹1,626
74
Dividend Discount
Gordon GGM
₹87.83
₹175.00
₹265.00
67
DDM Multi-Stage
₹87.83
₹151.24
₹184.72
67
Multiples
P/E Multiple
₹1,689
₹2,252
₹2,815
63
P/S Multiple
₹614.42
₹819.23
₹1,024
58
P/B Multiple
₹1,689
₹2,252
₹2,815
55
EV/EBIT
₹1,640
₹2,150
₹2,661
66
EV/EBITDA
₹1,264
₹1,649
₹2,034
67
EV/Revenue
₹681.83
₹927.60
₹1,173
54
Asset-Based
NCAV (Graham)
₹522.64
₹700.34
₹1,045
54
Economic Profit
Residual Income
₹972.40
₹1,167
₹1,730
75
ROIC Compounder
₹1,365
₹1,760
₹2,285
72
Growth Earnings
Growth-Adj P/E
₹1,432
₹2,046
₹2,660
67
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Set up alert →Quality Score breakdown
Overall quality
52/100
Of which business quality 50 · Market factors (momentum, volatility) 82
Profitability
59
Margins and returns on capital today
Quality Growth
36
Are margins and returns improving?
Cashflow
0
Earnings quality: real cash, not paper profit
Fin. Strength
87
Balance sheet, leverage, solvency risk
Investment
39
Disciplined investing over empire-building
Low Volatility
45
Calm price path (market factor)
Momentum
100
Price trend over the last 3–12 months (market factor)
52W Momentum
93
Distance to the 52-week high (market factor)
Net Issuance
82
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
45/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−8.4%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−0.1%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.7%
Start year 2020 (pandemic). Over 10 years: +7.2% a year
Revenue growth 11 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+7.8%
’14
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’25
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+19.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.4%
Dividend (yield on the price)0.4%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.16% → 27%
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Indian Stocks
- Valuation of the India market
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
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| Zangge Mining Company 000408 | ¥71.46 | ¥78.61 | +10% |
| LG Chem, Ltd 051910 | 252,500 KRW | 587,755 KRW | +133% |
| Zhejiang Juhua Co 600160 | ¥33.97 | ¥19.25 | −43% |
| Ganfeng Lithium Group 002460 | ¥43.43 | ¥15.72 | −64% |
| Jiangsu Eastern Shenghong Co 000301 | ¥13.36 | ¥3.06 | −77% |
| Formosa Chemicals & Fibre Corporation 1326 | 67.00 TWD | 17.68 TWD | −74% |
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Frequently asked questions
Is Indo Borax & Chemicals Limited (524342) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹915.03 versus a price of ₹471.30, about +94% upside (undervalued).
What is the fair value of 524342?
Our model-based fair value for Indo Borax & Chemicals Limited is ₹915.03 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹471.30.
What is the quality score of 524342?
Indo Borax & Chemicals Limited has a Quality Score of 52/100. 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 price target for Indo Borax & Chemicals Limited (524342)?
Our model-based price target is the fair value of ₹915.03 (as of Sep 24, 2026) from 17 valuation models. Cautious scenario ₹836.31, optimistic scenario ₹1,150. It is a calculation from audited fundamentals, not an analyst target.
What is the Indo Borax & Chemicals Limited stock forecast for 2026?
Our models put fair value at ₹915.03, about +94% upside versus a price of ₹471.30 (undervalued). Cautious scenario ₹836.31, optimistic scenario ₹1,150. The calculation is refreshed regularly with new filings.
What is the revenue of Indo Borax & Chemicals Limited (524342)?
Indo Borax & Chemicals Limited reported trailing-twelve-month revenue of about ₹1.0B (latest available figure, as of Sep 24, 2026).
Does Indo Borax & Chemicals Limited pay a dividend?
Indo Borax & Chemicals Limited currently shows a dividend yield of about 0.42% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Indo Borax & Chemicals Limited (524342)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Indo Borax & Chemicals Limited it is ₹915.03 per share (as of Sep 24, 2026), against a price of ₹471.30. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Indo Borax & Chemicals Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 524342 trades below its calculated fair value: price ₹471.30, fair value ₹915.03, a gap of about +94% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 524342?
No. The price is what the market pays today (₹471.30); the fair value is what the company's own numbers justify (₹915.03). For Indo Borax & Chemicals Limited the two are ₹443.73 per share apart. That gap is exactly why we show both numbers side by side.
How much is Indo Borax & Chemicals Limited worth?
The market values Indo Borax & Chemicals Limited at about ₹1.1B (market capitalisation, as of Sep 24, 2026). Per share that is ₹471.30; our models calculate a fair value of ₹915.03 per share.
What do the bullish and bearish scenarios say about 524342?
Our models span a range for Indo Borax & Chemicals Limited: cautious scenario ₹836.31, base ₹915.03, optimistic ₹1,150 per share (as of Sep 24, 2026, price ₹471.30). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 524342 from its 52-week high?
Indo Borax & Chemicals Limited trades at ₹471.30, about 8% below its 52-week high of ₹514.50 and 103% above the low of ₹232.25 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹915.03 is for.
Which stocks are comparable to Indo Borax & Chemicals Limited?
From the same area (Basic Materials) we also value Saudi Basic Industries Corporation, Ningxia Baofeng Energy Group, Dow Inc, Hengli Petrochemical Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Indo Borax & Chemicals Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹471.30, calculated fair value ₹915.03 (+94%), Quality Score 52/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 524342 calculated?
We run Indo Borax & Chemicals Limited through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹915.03, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Indo Borax & Chemicals Limited currently trades 48 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Indo Borax & Chemicals Limited (524342)?
The closing price on Oct 1, 2026 was ₹471.30. Our model-based fair value is ₹915.03, about +94% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Indo Borax & Chemicals Limited right now?
The price is below even our cautious bear case (₹836.31). The market is more pessimistic than our downside scenario. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Indo Borax & Chemicals Limited
How large is the market capitalisation of Indo Borax & Chemicals Limited (524342)?
The market capitalisation of Indo Borax & Chemicals Limited is ₹1.1B (≈ $10.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Indo Borax & Chemicals Limited (524342)?
The price-to-earnings ratio of Indo Borax & Chemicals Limited is 6.8 (as of Jul 4, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Indo Borax & Chemicals Limited (524342)?
The price-to-sales ratio of Indo Borax & Chemicals Limited is 1.65 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Indo Borax & Chemicals Limited (524342)?
Earnings per share at Indo Borax & Chemicals Limited are ₹54.47 (price ÷ EPS = P/E 6.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Indo Borax & Chemicals Limited (524342)?
The dividend yield of Indo Borax & Chemicals Limited is 0.4% (payout 3.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Indo Borax & Chemicals Limited (524342)?
The net margin of Indo Borax & Chemicals Limited is 24.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Indo Borax & Chemicals Limited (524342)?
On an EBIT basis the return on assets of Indo Borax & Chemicals Limited is 19.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Indo Borax & Chemicals Limited (524342)?
The operating margin of Indo Borax & Chemicals Limited is 19.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Indo Borax & Chemicals Limited (524342)?
Revenue at Indo Borax & Chemicals Limited is growing −34.6% versus a year earlier (3y avg −0.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Indo Borax & Chemicals Limited (524342)?
Earnings per share at Indo Borax & Chemicals Limited are growing +10.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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