Khaitan Chemicals & Fertilizers Limited (KHAICHEM) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Khaitan Chemicals & Fertilizers Limited ₹36.06, price ₹49.22, upside -26.7%, quality 76 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 ₹43.24 – ₹150.08 · fair‑value band ₹21.11 – ₹48.10 · the ₹49.22 price screens above the ₹36.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 27, 2026.
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Khaitan Chemicals and Fertilizers Limited manufactures and sells single super phosphate (SSP), sulphuric acid, and other chemicals in India. The company operates through Fertilizer, and Chemicals & Specialty Chemicals segments.
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Khaitan Chemicals and Fertilizers Limited manufactures and sells single super phosphate (SSP), sulphuric acid, and other chemicals in India. The company operates through Fertilizer, and Chemicals & Specialty Chemicals segments. It also provides plain, zincated, and boronated SSP fertilizers in powder and granulated forms under the Khaitan Single super Phosphate and Utsav Single super Phosphate brands for use in crops. In addition, the company produces sulphuric acid, which is used in manufacturing of SSP fertilizers, copper sulphate, zinc sulphate, ferrous sulphate, and health medicines; and sulphur trioxide and oleum that are used for the production of plastics, detergents, and dyestuffs. Further, it offers linier alkyl benzene sulphonic acid, which is used to produce detergent and cake for washing clothes; and refined vegetable oil under the Khaitan Vegetable Oil brand, as well as manufactures and sells crude soya oil and de-oiled cakes. Additionally, the company generates steam as a by-product; and electricity through wind energy. Khaitan Chemicals and Fertilizers Limited was incorporated in 1982 and is headquartered in Indore, India.
Stock analysis
Khaitan Chemicals & Fertilizers Limited (KHAICHEM) currently trades at ₹49.22, while our model-based Fair Value estimate is ₹36.06, 26.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹113.35 per share, and 22 of the 24 models we run sit above the ₹49.22 price.
Bear case: the Asset-Based group reads lowest at ₹20.08, and 2 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹21.11 (bear) to ₹48.10 (bull), the price of ₹49.22 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 76/100 (high quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Khaitan Chemicals & Fertilizers Limited reported revenue of ₹10.0B in FY2026 versus ₹8.2B in FY2022, a compound +5.0%/yr. Reported net income was ₹646M in FY2026, compounding −5.1%/yr from FY2022.
Key figures
Market cap ₹5.2B (≈ $54.3M) · P/E ratio 6.9 · P/S ratio 0.45 · EPS (TTM) ₹7.09 · Net margin 6.4% · Return on equity 26.8% · Return on assets (EBIT) 8.6% · Operating margin 10.6%.
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 61% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 17% fair-value upside, at −27%, KHAICHEM screens richer than that median.
Fair Value models
Bear ₹21.11Fair Value ₹36.06Bull ₹48.10
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 (₹3.59 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.81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+39.1%
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.
+4.1%
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.
+15.8%
Start year 2021 (pandemic). Over 10 years: +9.8% a year
Revenue growth 20 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.
+7.3%
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What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+4.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.6%
Dividend (yield on the price)0.0%
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.21.0% vs 44.2%, 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.12% → 10%
2026 sits 197% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+20.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +15.6% a year for the price.
Compare Khaitan Chemicals & Fertilizers 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.Agricultural Inputs · 169 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score76 · Top 25%
Fair Value upside−26.7% · Below median
Profitability
Return on equity (TTM)26.8% · Top 25%
Return on assets10.2% · Top 25%
Net margin (TTM)6.5% · Above median
Operating margin (TTM)10.6% · Above median
Growth and dividend
Revenue growth33.7% · Top 25%
Balance sheet
Debt / equity0.08× · Above median
Valuation Multiplesvs Agricultural Inputs median · lower = cheaper
P/E (TTM)6.9× · Cheapest 25%
P/B1.80× · Pricier than median
P/S (TTM)0.52× · Cheaper than median
P/FCF14.8× · Cheaper than median
EV/EBITDA4.7× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 22
FUTURE (revenue growth)100· sector 20
PAST (return on equity)100· sector 26
HEALTH (low debt)96· sector 97
DIVIDEND (yield)0· sector 41
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 Khaitan Chemicals & Fertilizers Limited (KHAICHEM) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹36.06 versus a price of ₹49.22, about −27% upside (overvalued).
What is the fair value of KHAICHEM?
Our model-based fair value for Khaitan Chemicals & Fertilizers Limited is ₹36.06 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹49.22.
What is the quality score of KHAICHEM?
Khaitan Chemicals & Fertilizers Limited has a Quality Score of 76/100. 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 Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
Our model-based price target is the fair value of ₹36.06 (as of Sep 27, 2026) from 24 valuation models. Cautious scenario ₹21.11, optimistic scenario ₹48.10. It is a calculation from audited fundamentals, not an analyst target.
What is the Khaitan Chemicals & Fertilizers Limited stock forecast for 2026?
Our models put fair value at ₹36.06, about −27% upside versus a price of ₹49.22 (overvalued). Cautious scenario ₹21.11, optimistic scenario ₹48.10. The calculation is refreshed regularly with new filings.
What is the revenue of Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
Khaitan Chemicals & Fertilizers Limited reported trailing-twelve-month revenue of about ₹10.0B (latest available figure, as of Sep 27, 2026).
What growth is priced into Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
For today's price to be fair in a discounted-cash-flow model, Khaitan Chemicals & Fertilizers Limited would have to grow free cash flow by +20.4 % per year for five years (discount rate 13.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +15.8 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of KHAICHEM use?
Our models discount Khaitan Chemicals & Fertilizers Limited at 13.9 %: a base by market capitalisation (micro), damped by beta 0.22, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Khaitan Chemicals & Fertilizers Limited that is +20.4 % per year a year over ten years, using the same discount rate (13.9 %) and the same formula as our fair value.
How much growth has Khaitan Chemicals & Fertilizers Limited (KHAICHEM) delivered so far?
Over the past 5 years revenue at Khaitan Chemicals & Fertilizers Limited grew +15.8 % a year. The price currently implies +20.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Khaitan Chemicals & Fertilizers Limited (KHAICHEM) growing?
The median revenue growth in the sector is +13.3 % a year. That is the yardstick for the growth priced into Khaitan Chemicals & Fertilizers Limited (+20.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
The free-cash-flow yield on the price is 7.40 %: that much free cash flow Khaitan Chemicals & Fertilizers Limited produces per unit of market value. When it exceeds the discount rate of our models (13.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Khaitan Chemicals & Fertilizers Limited it is ₹36.06 per share (as of Sep 27, 2026), against a price of ₹49.22. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Khaitan Chemicals & Fertilizers Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, KHAICHEM trades above its calculated fair value: price ₹49.22, fair value ₹36.06, a gap of about −27% (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 KHAICHEM?
No. The price is what the market pays today (₹49.22); the fair value is what the company's own numbers justify (₹36.06). For Khaitan Chemicals & Fertilizers Limited the two are ₹13.16 per share apart. That gap is exactly why we show both numbers side by side.
How much is Khaitan Chemicals & Fertilizers Limited worth?
The market values Khaitan Chemicals & Fertilizers Limited at about ₹5.2B (market capitalisation, as of Sep 27, 2026). Per share that is ₹49.22; our models calculate a fair value of ₹36.06 per share.
What do the bullish and bearish scenarios say about KHAICHEM?
Our models span a range for Khaitan Chemicals & Fertilizers Limited: cautious scenario ₹21.11, base ₹36.06, optimistic ₹48.10 per share (as of Sep 27, 2026, price ₹49.22). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KHAICHEM?
Khaitan Chemicals & Fertilizers Limited trades at a price-to-earnings ratio of 6.9 (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 ₹36.06 is built from several models across several years. Other multiples: P/B 1.8, P/S 0.5, EV/EBITDA 4.7.
How solid is the balance sheet of Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
Balance-sheet figures for Khaitan Chemicals & Fertilizers Limited (as of Sep 27, 2026): return on equity 26.8%, debt of 0.08 per unit of equity. They feed the Quality Score of 76/100, which measures business quality independently of the share price.
How far is KHAICHEM from its 52-week high?
Khaitan Chemicals & Fertilizers Limited trades at ₹49.22, about 61% below its 52-week high of ₹127.37 and 14% above the low of ₹43.24 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹36.06 is for.
Which stocks are comparable to Khaitan Chemicals & Fertilizers Limited?
From the same area (Basic Materials) we also value Corteva, Inc, Nutrien Ltd, Qinghai Salt Lake Industry Co, CF Industries Holdings, 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 Khaitan Chemicals & Fertilizers Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹49.22, calculated fair value ₹36.06 (−27%), Quality Score 76/100, from 24 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 KHAICHEM calculated?
We run Khaitan Chemicals & Fertilizers Limited through 24 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 ₹36.06, 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. Khaitan Chemicals & Fertilizers 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 Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
The closing price on Oct 1, 2026 was ₹49.22. Our model-based fair value is ₹36.06, about −27% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Khaitan Chemicals & Fertilizers Limited right now?
A high-quality business (quality 76/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (₹48.10). The favourable scenario is already priced in. A fairly wide model range (₹21.11 to ₹48.10) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Khaitan Chemicals & Fertilizers Limited
How large is the market capitalisation of Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
The market capitalisation of Khaitan Chemicals & Fertilizers Limited is ₹5.2B (≈ $54.3M). 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 Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
The price-to-sales ratio of Khaitan Chemicals & Fertilizers Limited is 0.45 (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 Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
Earnings per share at Khaitan Chemicals & Fertilizers Limited are ₹7.09 (price ÷ EPS = P/E 6.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
The net margin of Khaitan Chemicals & Fertilizers Limited is 6.4% (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 Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
The return on equity (ROE) of Khaitan Chemicals & Fertilizers Limited is 26.8% (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 Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
On an EBIT basis the return on assets of Khaitan Chemicals & Fertilizers Limited is 8.6% (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 Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
The operating margin of Khaitan Chemicals & Fertilizers Limited is 10.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
Revenue at Khaitan Chemicals & Fertilizers Limited is growing +33.7% versus a year earlier (3y avg +4.1%). 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 Khaitan Chemicals & Fertilizers Limited (KHAICHEM)?
Earnings per share at Khaitan Chemicals & Fertilizers Limited are growing +63.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Khaitan Chemicals & Fertilizers Limited (KHAICHEM) carry?
The net debt of Khaitan Chemicals & Fertilizers Limited is ₹3.1B (fiscal year 2026, ≈ 8.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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