3 Boron, Pigment and Glycol Stocks With a Strong Future Roadmap: Indo Borax & Chemicals, Ultramarine & Pigments and India Glycols
- October 12, 2026
- Posted by: Harsh Piplani
- Category: Best Stocks
Indo Borax Rs 476.20, P/E 27.49. Ultramarine Rs 398.55, P/E 12.67. India Glycols Rs 329.60, P/E 7.58. Closing prices of 9 Oct 2026.
Quick Answer
Boron, pigment and glycol stocks with the clearest long-term roadmaps today include Indo Borax in boron chemicals, Ultramarine in pigments for plastics and paints and India Glycols in glycols and ethanol. FY26 revenue growth was 21.0% at Indo Borax, 11.2% at Ultramarine and 11.5% at India Glycols. P/E stands at 27.49 for Indo Borax (industry 36.60), 12.67 for Ultramarine (industry 36.60) and 7.58 for India Glycols (industry 54.53). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company’s risks need equal attention.
Boron, pigment and glycol stocks give investors exposure to boron chemicals, pigments and glycols. Raw material prices, volumes and capacity use decide how much of that demand turns into profit.
This list covers three boron, pigment and glycol stocks: Indo Borax & Chemicals for boron chemicals, Ultramarine & Pigments for pigments for plastics and paints and India Glycols for glycols and ethanol. Every figure comes from the latest reported financials and the 9 October 2026 market close. Companies without complete current figures were left out.
Click Here – Get Free Investment Predictions
What Are Boron, Pigment and Glycol Stocks?
Boron, pigment and glycol stocks are shares of companies that make boron chemicals, pigments, glycols and ethanol. Results depend on raw material prices, volumes and capacity use, so margin stability and capacity use separate the stronger names.
Boron, Pigment and Glycol Stocks at a Glance
The table compares size, valuation, return on equity and debt for the three boron, pigment and glycol stocks as of the 9 Oct 2026 close.
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE | Debt to Equity |
|---|---|---|---|---|---|---|
| Indo Borax & Chemicals | 476.20 | 1,548 | 27.49 | 36.60 | 11.09% | 0.00 |
| Ultramarine & Pigments | 398.55 | 1,168 | 12.67 | 36.60 | 9.29% | 0.10 |
| India Glycols | 329.60 | 2,397 | 7.58 | 54.53 | 9.98% | 0.58 |
Among specialty chemical stocks, all three trade at a discount to their industry P/E multiples.
Why Do Boron, Pigment and Glycol Stocks Have a Strong Roadmap in India?
Boron, pigment and glycol stocks have a strong roadmap in India because glass, ceramics and farm uses need boron, plastics and paints need pigments and ethanol blending creates a steady fuel chemical market. Three drivers stand out.
- Glass and ceramics demand: Boron chemicals are used in glass, ceramics and agriculture.
- Plastics and paints: Pigments colour plastics, paints and detergents.
- Ethanol blending: Blending targets support demand for ethanol and green chemicals.
Indo Borax & Chemicals: Boron Chemicals Anchor the Roadmap
Indo Borax’s roadmap rests on boron-based chemicals such as boric acid and borax used in glass, ceramics and agriculture, with wide industrial usage supporting volumes.
Revenue grew from Rs 178.93 crore in FY22 to Rs 230.89 crore in FY26, a 29.0% rise, and FY26 revenue was 21.0% higher than FY25. FY26 net profit rose 18.3% to Rs 50.27 crore. Over four years, net profit rose from Rs 36.37 crore in FY22 to Rs 50.27 crore. In Q1 FY27, revenue grew 28.9% to Rs 72.92 crore, and net profit rose 59.3% to Rs 16.25 crore. Operating margin was 27.28% in FY26 and 31.78% in Q1 FY27 against 28.43% a year earlier.
Debt to equity is 0.00 and return on equity is 11.09%. FY26 operating cash flow was Rs 87.15 crore against capital expenditure of Rs 0.29 crore. Indo Borax paid a dividend of Rs 1 per share for FY26, a yield of 0.21%. At a P/E of 27.49 against an industry P/E of 36.60, the stock trades below its industry multiple.
What to watch: Q1 FY27 operating margin was 31.78% against 27.28% for FY26, so margin stability is the figure to follow as volumes grow.
Ultramarine & Pigments: Pigments for Plastics and Paints Drive the Pipeline
Ultramarine’s roadmap rests on ultramarine blue pigments and related colourants for plastics, paints and detergents, with steady industrial demand supporting volumes.
Revenue grew from Rs 499.48 crore in FY22 to Rs 786.41 crore in FY26, a 57.4% rise, and FY26 revenue was 11.2% higher than FY25. FY26 net profit rose 7.6% to Rs 80.77 crore. Over four years, net profit rose from Rs 58.30 crore in FY22 to Rs 80.77 crore. In Q1 FY27, revenue grew 31.2% to Rs 245.68 crore, and net profit rose 56.5% to Rs 31.59 crore. Operating margin was 17.91% in FY26 and 21.33% in Q1 FY27 against 18.78% a year earlier.
Debt to equity is 0.10 and return on equity is 9.29%. FY26 operating cash flow was Rs 128.27 crore against capital expenditure of Rs 67.87 crore. Ultramarine paid a dividend of Rs 6 per share for FY26, a yield of 1.50%. At a P/E of 12.67 against an industry P/E of 36.60, the stock trades below its industry multiple.
What to watch: Q1 FY27 operating margin was 21.33% against 17.91% for FY26, so margin stability is the figure to follow as volumes grow.
India Glycols: Green Chemicals and Ethanol Build the Next Leg
India Glycols’ roadmap rests on glycols, spirits and ethanol, and specialty chemicals made from renewable feedstock, with ethanol blending and chemical demand supporting volumes.
Revenue grew from Rs 2,889.84 crore in FY22 to Rs 4,216.34 crore in FY26, a 45.9% rise, and FY26 revenue was 11.5% higher than FY25. FY26 net profit rose 26.8% to Rs 292.76 crore. In Q1 FY27, revenue grew 19.3% to Rs 2,988.82 crore, and net profit rose 32.2% to Rs 96.83 crore. Operating margin was 7.12% in FY26 and 6.38% in Q1 FY27 against 6.78% a year earlier.
Debt to equity is 0.58 and return on equity is 9.98%. FY26 operating cash flow was Rs 769.16 crore against capital expenditure of Rs 823.48 crore. India Glycols paid a dividend of Rs 7.5 per share for FY26, a yield of 2.10%. At a P/E of 7.58 against an industry P/E of 54.53, the stock trades below its industry multiple.
What to watch: Q1 FY27 operating margin was 6.38% against 7.12% for FY26, so margin stability is the figure to follow as volumes grow.
Best Boron, Pigment and Glycol Stocks in India: Indo Borax vs Ultramarine vs India Glycols on Key Financials
Among the best boron, pigment and glycol stocks in India, Indo Borax leads on FY26 revenue growth and FY26 operating margin; Ultramarine leads on Q1 FY27 revenue growth; India Glycols leads on FY26 net profit growth and the lowest P/E. The table puts the numbers side by side.
| Metric | Indo Borax | Ultramarine | India Glycols |
|---|---|---|---|
| FY26 revenue (Rs Cr) | 230.89 | 786.41 | 4,216.34 |
| FY26 revenue growth | 21.0% | 11.2% | 11.5% |
| FY26 net profit (Rs Cr) | 50.27 | 80.77 | 292.76 |
| FY26 net profit growth | 18.3% | 7.6% | 26.8% |
| FY26 operating profit margin | 27.28% | 17.91% | 7.12% |
| Q1 FY27 revenue growth (YoY) | 28.9% | 31.2% | 19.3% |
| Q1 FY27 net profit growth (YoY) | 59.3% | 56.5% | 32.2% |
| Return on equity | 11.09% | 9.29% | 9.98% |
| P/E ratio | 27.49 | 12.67 | 7.58 |
| Debt to equity | 0.00 | 0.10 | 0.58 |
| Dividend yield | 0.21% | 1.50% | 2.10% |
| FY26 operating cash flow (Rs Cr) | 87.15 | 128.27 | 769.16 |
Chemical earnings follow raw material prices, volumes and capacity use, so full-year numbers and quarterly trends together give a better view.
How to Evaluate Boron, Pigment and Glycol Stocks to Buy Before You Invest
A short checklist keeps the research consistent when you screen boron, pigment and glycol stocks and shortlist boron, pigment and glycol stocks to buy.
- Compare each stock’s P/E with its industry P/E, which differs by company here.
- Check how much revenue depends on a single product and how input costs move margins, because both vary across this group.
- Check whether revenue growth is turning into profit growth, not only sales.
- Read operating cash flow against capital expenditure to see how growth is funded.
- Watch debt to equity and interest cover before sizing a position.
- Spread exposure across companies and business lines instead of one demand cycle.
Check the Univest Screener for live data on these boron, pigment and glycol stocks
Risks to Consider Before Investing in Boron, Pigment and Glycol Stocks
- Raw material prices: Input costs change margins quickly.
- Regulation and policy: Ethanol pricing and chemical rules can affect earnings.
- Quarterly trends: A single weak quarter can change near-term earnings, so track results every quarter.
Download the Univest iOS App or Univest Android App to track Indo Borax, Ultramarine and India Glycols live.
Final Take: Which Stock Has the Strongest Roadmap?
These three specialty chemical stocks cover a boron chemicals maker, a pigment producer and a glycols and ethanol company. Indo Borax leads on FY26 revenue growth and FY26 operating margin; Ultramarine leads on Q1 FY27 revenue growth; India Glycols leads on FY26 net profit growth and the lowest P/E.
Across boron, pigment and glycol stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the boron, pigment and glycol stocks to buy discussed here.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on Boron, Pigment and Glycol Stocks
Which are the best boron, pigment and glycol stocks in India with a strong roadmap?
Ans. Indo Borax & Chemicals, Ultramarine & Pigments and India Glycols stand out for their roadmaps in a boron chemicals maker, a pigment producer and a glycols and ethanol company. FY26 revenue growth was 21.0% at Indo Borax, 11.2% at Ultramarine and 11.5% at India Glycols, and return on equity ranges from 9.29% to 11.09%.
Is Indo Borax & Chemicals a good stock to buy now?
Ans. Indo Borax & Chemicals has a debt to equity ratio of 0.00, a return on equity of 11.09% and a P/E of 27.49 against an industry P/E of 36.60. Valuation, input costs and policy changes move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.
What is the P/E ratio of Indo Borax, Ultramarine and India Glycols?
Ans. The P/E ratio is 27.49 for Indo Borax (industry 36.60), 12.67 for Ultramarine (industry 36.60) and 7.58 for India Glycols (industry 54.53). All of them trade below the industry multiple.
Which of these boron, pigment and glycol stocks has the highest return on equity?
Ans. Indo Borax & Chemicals has the highest return on equity at 11.09%, followed by India Glycols at 9.98% and Ultramarine & Pigments at 9.29%.
What are the risks of investing in boron, pigment and glycol stocks?
Ans. The main risks are raw material prices, regulation and policy and quarterly trends. Input costs change margins quickly.
How did Indo Borax, Ultramarine and India Glycols perform in Q1 FY27?
Ans. Indo Borax & Chemicals reported revenue of Rs 72.92 crore, up 28.9% year on year, and net profit rose 59.3% to Rs 16.25 crore. Ultramarine & Pigments reported revenue of Rs 245.68 crore, up 31.2% year on year, and net profit rose 56.5% to Rs 31.59 crore. India Glycols reported revenue of Rs 2,988.82 crore, up 19.3% year on year, and net profit rose 32.2% to Rs 96.83 crore.
Do boron, pigment and glycol stocks pay dividends?
Ans. Yes, all three companies pay dividends. The dividend yield is 0.21% for Indo Borax, 1.50% for Ultramarine and 2.10% for India Glycols, based on dividends declared for FY26.
How can I invest in boron, pigment and glycol stocks in India?
Ans. You can buy boron, pigment and glycol stocks through a demat and trading account on NSE or BSE after checking each company’s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.
