Thanks Mukesh
With the negatives you pointed out it seems we need lot of MoS before diving in.
I believe it will betting on racing horse.
I believe bodal, bhageria or quick stint in Aarti industries for 20-30% gain is a better idea
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Bhageria is risky too. Bhageria does not own its plant. The plant is on lease. The lessee can anytime ask the plant back and produce dye intermediates on its own and sells.
Good to see clear graphs of the price of the product. I am interested to know how seasonality comes in this product. Is there a trend that you have spotted, I hae checked 10yrs data, it goes up at sometimes when Chinese facilities or demand raises but there is no predictable internal trend that I saw.
Since Bhageria and Shree hari are in the H Acid, It looks like Bhageria is performing well in terms of Revenues and Profits when compared to Shree Hari Chemicals.
Anyone still tracking this company?
Since due to government regulations in China and pollution norm most of China companies are shut.
whereas if one goes to the quarterly results : We see a quite a big jump in sales & OPM
- Is this temporary?
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Let’s see how the next few quarter result pan out.
Interesting times for Shri Hari. H-Acid prices are still elevated trading at 100-150 K RMB per tonne in China. Company have 3200 TPA capacity for H-Acid and an Environment Clearance for 6000 TPA.
As per my calculation cost of production of H-acid is not more than 400 INR per KG and H-acid is being traded at 1000-1500 INR per Kg in India.
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But as we can see the majority revenue is being generated by selling H-Acid, still the OPM is barely 3-8% or negative all along. Are they selling it for less or how?
Although there is something going on with the promoters adding almost 5% stake in the company and the price has rallied so much in the last few months! (Might be just pumping as well)
Prices have increased post march only and major increase happened in september 2026. The effect is visible in the jun quarter numbers. But sept quarter is going to be in another orbit.
Promoter stake increase is through debt conversion. Furthermore they have issued warrants at 165-175 INR range which will get their stake to 75% post dilution.
The warrant issue had been done to increase the capacity.
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Got this image from a Chinese social media platform. This contains pricing for the last week of sept for key textile chemicals.
As per this image H-acid has been traded at a price of RMB 145k per tonne to RMB 200K per tonne.
Several other sources also mentioned pricing for H-acid around RMB 150K per tonne for last week of sept.
While the image is not a reliable source this is the latest pricing news I have been able to get.
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can we get a comparison from last year?
I would like find a source where we can track the price on daily basis.. if anyone has any idea how to get this? I tried to find through Google and chat gpt but it is not worth.. unable to get any reliable source from where I can track the price..
H-acid is not traded daily, or atleast the price cannot be made available daily. I have tried to find a good relaible source but I have not found any till now. Only way is to stay in contact with actual H-acid consumers who can get you real time qoutes from seller. Or else you can dig into chinese financial social media platforms where they tend to publish rate list that they get from their sources.
The prices used to be 30-40k RMB per tonne for last 2-3 years. Up-till march 2026. When multiple facilities went into rectification in China. I have attached historical Indian prices in the image below.
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