Stock Price Movement and Market Context
On 30 March 2026, National Peroxide Ltd’s share price touched an intraday low of Rs.355.2, representing a decline of 3.58% for the day and a 3.09% drop compared to the previous close. This fall occurred despite the stock marginally outperforming its sector by 0.44% on the same day. The stock has been on a downward trajectory for three consecutive sessions, losing 7.77% over this period.
When compared with the broader market, the stock’s performance has been notably weaker. Over the past week, National Peroxide Ltd declined by 6.18%, while the Sensex recorded a modest fall of 0.28%. The divergence widens over longer durations: a 15.00% drop in one month versus Sensex’s 9.66%, and a 23.65% decline over three months compared to the Sensex’s 14.39% fall. The one-year performance is particularly stark, with the stock down 38.24% against the Sensex’s 6.36% loss.
Year-to-date figures also highlight the stock’s relative weakness, with a 23.72% decline compared to the Sensex’s 14.94% fall. Over three and five years, National Peroxide Ltd has shown no appreciable gains, contrasting sharply with the Sensex’s 25.07% and 44.58% growth respectively. The ten-year comparison is even more pronounced, with the Sensex up 186.08% while the stock remains flat.
Technical Indicators and Trading Patterns
Technical analysis indicates a bearish trend for National Peroxide Ltd. The current price is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained downward momentum. The overall technical trend shifted to bearish on 6 November 2025 at a price of Rs.579.45, and has remained so since.
Key technical levels include immediate support at Rs.362.60, which corresponds to the 52-week low, and immediate resistance near Rs.394.90, aligned with the 20-day moving average. Further resistance levels are noted at Rs.459.29 (100-day moving average) and Rs.553.20 (200-day moving average), with the 52-week high at Rs.770 representing a distant hurdle.
Additional technical indicators present a mixed picture: the MACD and KST oscillators show mild bullish signals on a weekly basis, while Bollinger Bands and monthly Dow Theory readings remain bearish. The Relative Strength Index (RSI) currently offers no clear signal.
Delivery volumes have increased notably, with a 174.92% rise over the past month and a 38.18% increase on the latest trading day compared to the five-day average, suggesting heightened trading activity amid the price decline.
Financial Performance and Valuation Metrics
National Peroxide Ltd’s financial metrics reflect ongoing difficulties. The company’s net sales have contracted at an annualised rate of 12.60% over the past five years, while operating profit has deteriorated sharply by 135.58% during the same period. This negative growth trajectory has contributed to the stock’s classification as a ‘Sell’ by MarketsMOJO, with a current Mojo Score of 31.0 and a Mojo Grade of Sell, upgraded from Strong Sell on 7 May 2025.
The company is currently loss-making, with no reported price-to-earnings ratio due to negative earnings. Valuation multiples indicate a price-to-book value of 0.60x and an EV/EBITDA ratio of 11.75x. The EV/EBIT ratio is negative at -24.70x, reflecting operating losses. Enterprise value to sales stands at 0.59x, and EV to capital employed is 0.54x.
Dividend metrics show a latest dividend of Rs.12.5 per share with a payout ratio of 42.79%, though the dividend yield is not available. The ex-dividend date was 20 August 2024.
The stock’s current price is 53.64% below its 52-week high of Rs.770.00 and just 1.54% above its 52-week low of Rs.362.60, underscoring the recent price weakness.
Quality and Risk Assessment
Despite the challenging financial performance, National Peroxide Ltd maintains some positive quality attributes. The company has a low average debt-to-equity ratio of zero, indicating a net cash position and minimal leverage. Capital structure is rated as good, and the company has no promoter share pledging. Institutional holdings are minimal at 0.01%.
Quality grades classify the company as average overall, with average management risk and below-average growth. Key financial ratios include an average EBIT to interest coverage of 2.98x, which is considered weak, and an average debt to EBITDA ratio of 0.66, reflecting low debt levels. Return on capital employed (ROCE) and return on equity (ROE) are weak at 3.99% and 1.90% respectively.
The company has consistently paid dividends and maintains a strong balance sheet, which provides some stability amid the broader decline.
Recent Quarterly Financial Highlights
In the short term, National Peroxide Ltd reported positive quarterly results in December 2025 following flat results in September 2025. The quarterly PBDIT reached its highest level at Rs.6.99 crores, with operating profit to net sales ratio peaking at 10.12%. Profit before tax excluding other income was Rs.1.46 crores, and the quarterly PAT was Rs.2.41 crores, the highest recorded in recent quarters. Earnings per share for the quarter stood at Rs.3.18.
These quarterly improvements, however, have not translated into sustained stock price gains or reversal of the longer-term downtrend.
Shareholding and Market Capitalisation
Promoters remain the majority shareholders of National Peroxide Ltd. The company is classified as a micro-cap stock, reflecting its relatively small market capitalisation within the commodity chemicals sector.
The sector itself has outperformed the stock in recent periods, with National Peroxide Ltd’s relative underperformance highlighting the challenges faced by the company in maintaining competitive positioning.
Summary of Performance Relative to Benchmarks
National Peroxide Ltd’s stock has consistently lagged behind key market indices and sector benchmarks. Over one year, the stock’s return of -38.24% contrasts with the Sensex’s -6.36%. Over three months, the stock fell 23.65% compared to the Sensex’s 14.39% decline. The three-year and five-year returns remain flat, while the Sensex has delivered substantial gains over these periods.
This underperformance is mirrored in the company’s financial results, which have shown contraction in sales and operating profits, alongside weak returns on capital.
