Hindcon Chemicals Limited (HINDCON) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Hindcon Chemicals Limited ₹8.36, price ₹33.30, upside -74.9%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range ₹6.39 – ₹63.82 · fair‑value band ₹6.38 – ₹10.45 · the ₹33.30 price screens above the ₹8.36 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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Hindcon Chemicals Limited manufactures and sells sodium silicates and construction chemicals, and related services in India and internationally.
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Hindcon Chemicals Limited manufactures and sells sodium silicates and construction chemicals, and related services in India and internationally. It offers cement additive products, which includes coating and impregnation, concrete and mortar admixtures, epoxy grouts and mortars, expansion and contraction joint systems, floorings, foundry aids, green products for building projects, grouts, protective coating and sheeting, remover and cleaning compounds, sealants, shotcrte aids, tile adhesives, waterproofing compounds, concreting and grinding aids, and excavation aids; sodium silicate products, such as sodium silicate neutral, alkaline, colloidal silica, sodium metasilicate; and multisafe products. The company also provides various services, such as waterproofing and repair, retrofitting and restructuring, and specification services. In addition, it is involved in the trading of pulses. The company was formerly known as Hind Silicates Pvt Ltd. Hindcon Chemicals Limited was founded in 1947 and is based in Kolkata, India.
Stock analysis
Hindcon Chemicals Limited (HINDCON) currently trades at ₹33.30, while our model-based Fair Value estimate is ₹8.36, 74.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ₹10.74 per share, and 0 of the 16 models we run sit above the ₹33.30 price.
Bear case: the Dividend Discount group reads lowest at ₹0.9900, and 16 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹6.38 (bear) to ₹10.45 (bull), the price of ₹33.30 sits above 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 47/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Hindcon Chemicals Limited reported revenue of ₹650M in FY2026 versus ₹666M in FY2022, a compound −0.6%/yr. Reported net income was ₹32.3M in FY2026, compounding −6.5%/yr from FY2022.
Key figures
Market cap ₹1.3B (≈ $13.3M) · P/E ratio 39.6 · P/S ratio 1.97 · EPS (TTM) ₹0.8400 · Dividend yield 0.3% · Net margin 5.0% · Return on equity 5.5% · Return on assets (EBIT) 12.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 99% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −46% fair-value upside, at −75%, HINDCON screens richer than that median.
Fair Value models
Bear ₹6.38Fair Value ₹8.36Bull ₹10.45
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 2026 figures (about 6 months old). Earnings retained since then (₹0.4258 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.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+14.9%
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.
−8.8%
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.
+7.9%
Start year 2021 (pandemic). Over 10 years: +6.9% a year
Revenue growth 13 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.
+5.9%
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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.
−25.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−25.7%
Dividend (yield on the price)0.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−25.7% vs 0.2%, slowing
Profit margin 2021 to 2026 ⓘ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.11% → 4%
Start year 2021 (pandemic)
⚠ Revenue per share shrinking 6.4%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Compare Hindcon Chemicals Limited with another stock
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Peer Groupⓘ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.Specialty Chemicals · 698 stocks
Beats the industry median on 1/12 measures
Overall it trails its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside−74.9% · Bottom 25%
Profitability
Return on equity (TTM)5.5% · Below median
Return on assets2.4% · Below median
Net margin (TTM)5.0% · Below median
Operating margin (TTM)2.9% · Bottom 25%
Growth and dividend
Revenue growth33.4% · Top 25%
Dividend yield (TTM)0.3% · Bottom 25%
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
P/E (TTM)39.6× · Pricier than median
P/B2.24× · Pricier than median
P/S (TTM)1.97× · Pricier than median
EV/EBITDA29.9× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 55
PAST (return on equity)22· sector 25
HEALTH (low debt)100· sector 95
DIVIDEND (yield)7· sector 29
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Hindcon Chemicals Limited (HINDCON) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹8.36 versus a price of ₹33.30, about −75% upside (overvalued).
What is the fair value of HINDCON?
Our model-based fair value for Hindcon Chemicals Limited is ₹8.36 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹33.30.
What is the quality score of HINDCON?
Hindcon Chemicals Limited has a Quality Score of 47/100. 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 Hindcon Chemicals Limited (HINDCON)?
Our model-based price target is the fair value of ₹8.36 (as of Sep 27, 2026) from 16 valuation models. Cautious scenario ₹6.38, optimistic scenario ₹10.45. It is a calculation from audited fundamentals, not an analyst target.
What is the Hindcon Chemicals Limited stock forecast for 2026?
Our models put fair value at ₹8.36, about −75% upside versus a price of ₹33.30 (overvalued). Cautious scenario ₹6.38, optimistic scenario ₹10.45. The calculation is refreshed regularly with new filings.
What is the revenue of Hindcon Chemicals Limited (HINDCON)?
Hindcon Chemicals Limited reported trailing-twelve-month revenue of about ₹650M (latest available figure, as of Sep 27, 2026).
Does Hindcon Chemicals Limited pay a dividend?
Hindcon Chemicals Limited currently shows a dividend yield of about 0.34% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of Hindcon Chemicals Limited (HINDCON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hindcon Chemicals Limited it is ₹8.36 per share (as of Sep 27, 2026), against a price of ₹33.30. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Hindcon Chemicals Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, HINDCON trades above its calculated fair value: price ₹33.30, fair value ₹8.36, a gap of about −75% (overvalued). 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 HINDCON?
No. The price is what the market pays today (₹33.30); the fair value is what the company's own numbers justify (₹8.36). For Hindcon Chemicals Limited the two are ₹24.94 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hindcon Chemicals Limited worth?
The market values Hindcon Chemicals Limited at about ₹1.3B (market capitalisation, as of Sep 27, 2026). Per share that is ₹33.30; our models calculate a fair value of ₹8.36 per share.
What do the bullish and bearish scenarios say about HINDCON?
Our models span a range for Hindcon Chemicals Limited: cautious scenario ₹6.38, base ₹8.36, optimistic ₹10.45 per share (as of Sep 27, 2026, price ₹33.30). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HINDCON?
Hindcon Chemicals Limited trades at a price-to-earnings ratio of 39.6 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹8.36 is built from several models across several years. Other multiples: P/B 2.2, P/S 2.0, EV/EBITDA 29.9.
How solid is the balance sheet of Hindcon Chemicals Limited (HINDCON)?
Balance-sheet figures for Hindcon Chemicals Limited (as of Sep 27, 2026): return on equity 5.5%. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is HINDCON from its 52-week high?
Hindcon Chemicals Limited trades at ₹33.30, about 5% below its 52-week high of ₹35.05 and 99% above the low of ₹16.75 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹8.36 is for.
Which stocks are comparable to Hindcon Chemicals Limited?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 Hindcon Chemicals Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹33.30, calculated fair value ₹8.36 (−75%), Quality Score 47/100, from 16 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 HINDCON calculated?
We run Hindcon Chemicals Limited through 16 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 ₹8.36, 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. Hindcon Chemicals Limited itself currently trades above fair value. 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 Hindcon Chemicals Limited (HINDCON)?
The closing price on Oct 1, 2026 was ₹33.30. Our model-based fair value is ₹8.36, about −75% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hindcon Chemicals Limited right now?
The price sits above even our optimistic bull case (₹10.45). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Hindcon Chemicals Limited (HINDCON) come from?
Earnings per share at Hindcon Chemicals Limited grew +0.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share −7.7 %, EBIT margin +9.0 %, tax rate +1.0 %, residual (interest, one-offs) −0.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Hindcon Chemicals Limited
How large is the market capitalisation of Hindcon Chemicals Limited (HINDCON)?
The market capitalisation of Hindcon Chemicals Limited is ₹1.3B (≈ $13.3M). 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/S ratio of Hindcon Chemicals Limited (HINDCON)?
The price-to-sales ratio of Hindcon Chemicals Limited is 1.97 (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 Hindcon Chemicals Limited (HINDCON)?
Earnings per share at Hindcon Chemicals Limited are ₹0.8400 (price ÷ EPS = P/E 39.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hindcon Chemicals Limited (HINDCON)?
The dividend yield of Hindcon Chemicals Limited is 0.3% (payout 13.7%). 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 Hindcon Chemicals Limited (HINDCON)?
The net margin of Hindcon Chemicals Limited is 5.0% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Hindcon Chemicals Limited (HINDCON)?
The return on equity (ROE) of Hindcon Chemicals Limited is 5.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Hindcon Chemicals Limited (HINDCON)?
On an EBIT basis the return on assets of Hindcon Chemicals Limited is 12.5% (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 Hindcon Chemicals Limited (HINDCON)?
The operating margin of Hindcon Chemicals Limited is 2.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hindcon Chemicals Limited (HINDCON)?
Revenue at Hindcon Chemicals Limited is growing +33.4% versus a year earlier (3y avg −8.8%). 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 Hindcon Chemicals Limited (HINDCON)?
Earnings per share at Hindcon Chemicals Limited are growing +54.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hindcon Chemicals Limited (HINDCON) generate?
The free cash flow of Hindcon Chemicals Limited is −₹58.1M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Hindcon Chemicals Limited (HINDCON) hold?
Hindcon Chemicals Limited holds more cash than debt, ₹81.5M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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