Kiri Industries vs Meghmani Organics: Share Price, PE, ROE Compared

August 12, 2026
Posted by: Ankit Jaiswal
Category: News

Kiri Industries MCap Rs 2,798 Cr, PE 0.50x (distorted by one-time gain), ROE -1.54%. Meghmani Organochem MCap Rs 1,483 Cr, PE 23.05x, ROE 1.86%.

Kiri Industries vs Meghmani Organics is a comparison specialty chemicals investors look up when evaluating two listed Indian companies in dyestuffs and specialty chemicals. Kiri Industries, a Surat-based company, is India’s largest manufacturer of reactive dyes for the textile industry, and holds a major stake in DyStar (global dyestuff company) after a landmark international arbitration. Meghmani Organics, an Ahmedabad-based company, manufactures pigments, agrochemical technicals and basic dyes for global markets. Note: Kiri’s PE of 0.50x is distorted by a one-time exceptional gain from the DyStar arbitration – not a reflection of recurring earnings.

This Kiri Industries vs Meghmani Organics article covers reach and market position, key products, latest declared results and stock valuation. All data is sourced from Groww and public company filings.

Table of Contents

Reach and Market Position

In this Kiri Industries vs Meghmani Organics comparison, Kiri Industries manufactures reactive dyes, intermediate chemicals and holds a stake in DyStar (global synthetic dye company based in Singapore). Market capitalisation is Rs 2,798 Cr.

Click Here – Get Free Investment Predictions

Meghmani Organics manufactures phthalocyanine pigments, reactive dyes, agro-chem technicals and related specialty chemicals. Market capitalisation is Rs 1,483 Cr. Note: This covers Meghmani Organics – a separate entity from Meghmani Organochem (chlor-alkali).

Key Products and Business Mix

For the Kiri Industries vs Meghmani Organics product breakdown, Kiri Industries: Kiri earns from reactive dye sales and DyStar stake. EPS is Rs 854.25 (inflated by one-time DyStar arbitration gain – NOT recurring!). PE is 0.50x (distorted). ROE is -1.54 percent on core operations. Investors must note: this PE is meaningless as it reflects a one-time exceptional income, not recurring earnings.

Meghmani Organics: Meghmani Organics earns from pigments, dyes and agro-chemicals. EPS is Rs 2.53. PE is 23.05x, ROE 1.86 percent (thin), D/E 0.47.

Latest Results and Financial Data

On the Kiri Industries vs Meghmani Organics results front: Kiri Industries has a market cap of Rs 2,798 Cr. The PE of 0.50x is distorted by the one-time DyStar arbitration gain and has no valuation meaning. Core ROE is -1.54 percent.

Meghmani Organics has a market cap of Rs 1,483 Cr and PE of 23.05x. ROE is 1.86 percent – thin but positive.

Compare Kiri Industries and Meghmani Organics Fundamentals on the Univest Screener

Stock Performance and Valuation

Investors tracking the Kiri Industries vs Meghmani Organics comparison should verify current prices on NSE or BSE before trading. The Kiri Industries vs Meghmani Organics stock data below reflects the latest available figures from Groww and public company filings.

Kiri Industries versus Meghmani Organics: Kiri (PE 0.50x – DISTORTED by one-time gain, ROE -1.54%) vs Meghmani (PE 23.05x, ROE 1.86%). Comparing Kiri and Meghmani on PE is not valid – Kiri’s PE is meaningless due to the exceptional income.

Kiri Industries vs Meghmani Organics: Quick Comparison Table

The comparison table below summarises the key metrics side by side.

Parameter	Kiri Industries	Meghmani Organics
Sector	Reactive dyes + DyStar stake (India’s largest reactive dye maker, Surat)	Pigments + reactive dyes + agro-chem technicals (Ahmedabad)
Market Cap	Rs 2,798 Cr	Rs 1,483 Cr
P/E Ratio	0.50x (DISTORTED by one-time gain – ignore PE!)	23.05x
ROE	−1.54% (core operations)	1.86% (thin)
DyStar Stake	Significant stake (after arbitration award)	No stake in DyStar
Product	Reactive dyes (textile) + DyStar income	Phthalocyanine pigments + dyes + agrochemicals
Status	Core ops thin; PE distorted by arbitration gain	Thin profitability, recovering

Conclusion

The Kiri Industries vs Meghmani Organics comparison above covers reach, products, results and valuation. Kiri Industries versus Meghmani Organics covers reactive dyes versus diversified specialty chemicals. Kiri’s PE of 0.50x is completely distorted by a one-time DyStar arbitration gain and must not be used for valuation. Meghmani has thin but positive core earnings. The Kiri and Meghmani comparison is best evaluated on underlying business quality rather than PE. Consult a SEBI-registered advisor for personalised guidance.

Download the Univest iOS App or Univest Android App to track Kiri Industries and Meghmani Organics live price and get daily stock recommendations.

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).

Frequently Asked Questions

What does Kiri Industries make?

Ans. Kiri Industries makes reactive dyes (textile colorants for cotton and cellulose fabrics) and dyestuff intermediates. Kiri also holds a significant stake in DyStar – a global synthetic dye company after winning an international arbitration.

What does Meghmani Organics make?

Ans. Meghmani Organics makes phthalocyanine pigments (used in paints, plastics, printing inks), reactive dyes, basic dyes and agrochemical technical ingredients.

Why is Kiri Industries PE 0.50x?

Ans. Kiri’s PE of 0.50x is completely distorted by a one-time extraordinary gain from the DyStar international arbitration award. This EPS of Rs 854 is not recurring. Investors should use core operating earnings for any analysis.

What is the DyStar arbitration?

Ans. DyStar Global (a Singapore-based global dye company co-owned by Kiri Industries and Zhejiang Longsheng) went through international arbitration. Kiri won a significant award, recognising the value of its stake. This created a one-time large gain.

Which is larger, Kiri or Meghmani?

Ans. Kiri Industries at Rs 2,798 Cr is approximately 1.9 times larger than Meghmani at Rs 1,483 Cr.

What are phthalocyanine pigments?

Ans. Phthalocyanine pigments are brilliant blue and green synthetic pigments used in paints, printing inks, plastics and textiles. They are among the most important industrial pigments globally.

Are Kiri and Meghmani in Nifty 50?

Ans. Neither is in Nifty 50.

News

Author: Ankit Jaiswal

Ankit Jaiswal is the Senior Research Analyst at Univest, leading the platform's in-house equity research desk and serving as the editorial reviewer for all research and blog content published at univest.in. With 11+ years of experience in Indian equity markets, he oversees stock recommendations, earnings analysis, sector coverage, and ensures every published article meets SEBI Research Analyst Regulations. He holds a Bachelor of Commerce (B.Com) from St. Xavier's College, Kolkata — one of India's most prestigious commerce institutions — and has cleared CMT Level 2 from the CMT Association, a globally recognised certification in technical analysis and market research. His research methodology combines fundamental analysis (earnings quality, balance sheet strength, management commentary) with advanced technical analysis (chart patterns, momentum indicators, market structure) — giving Univest's retail investors a dual-lens approach that most Indian research platforms lack. Ankit is among the most comprehensively certified analysts in Indian financial media, holding five NISM certifications: Series-XV (Research Analyst), Series-VIII (Equity Derivatives), Series-VII (SORM), Series-VI (Depository Operations), and Series-V-A (Mutual Fund Distributors). At Univest — India's SEBI-registered research and advisory platform — Ankit's responsibilities include leading the research team, finalising stock recommendations published across Pro Lite, Pro Super, and Pro Gold advisory services, and maintaining editorial oversight of all YMYL financial content published on the blog.