Chemical Stock Hits 20% Upper Circuit After DGTR Imposes Anti-Dumping Duty on Imports

Synospis: Shares of this chemical stock hit the 20% upper circuit after the DGTR imposed a five-year anti-dumping duty on Sulphenamides Accelerator imports from China, the US, and the EU, strengthening the competitive position of India’s leading rubber chemicals manufacturer.

The shares of this company which manufactures rubber chemicals are used by the tyre industry and other rubber processing industries are in the spotlight after it hit a 20 per cent upper circuit in today’s session following DGTR imposing anti-dumping duty on imports.

With a market capitalisation of Rs. 3,179 cr, the shares of NOCIL Ltd were trading at Rs. 190.35 per share, hitting 20% upper circuit in today’s market session, making a high of Rs. 190.70, up from its previous close of Rs. 158.95 per share. The stock has delivered a 5% return over the past year, while gaining 25% year-to-date, 23% in the last six months, and 13% over the past month.

What’s the News

The Directorate General of Trade Remedies (DGTR) has imposed an Anti-Dumping Duty (ADD) on the imports of Sulphenamides Accelerators from China, the US, and the European Union for a period of five years. This regulatory protection is designed to safeguard domestic manufacturers from unfairly priced foreign imports. Earlier in March, the commerce ministry had notified this duty to counter the impact of these rubber accelerators being dumped into the Indian market.

Sulphenamides Accelerators are critical chemical additives used in the vulcanisation process within the rubber and tyre industry. As India’s largest rubber chemicals manufacturer, NOCIL produces a comprehensive suite of these accelerators under its proprietary brand name, Pilcure, making the anti-dumping duty a massive operational and financial tailwind for the company.

NOCIL Ltd is one of India’s largest manufacturers of rubber chemicals and a key supplier to the tyre, automotive, and industrial rubber sectors. Part of the Arvind Mafatlal Group, the company produces a wide range of accelerators, antioxidants, and anti-degradants marketed under brands such as PILFLEX, PILNOX, and PILCURE. 

On the financial front, it reported a subdued performance in Q4FY26. Revenue declined 3% YoY to Rs. 330 crore from Rs. 340 crore in Q4FY25, while EBITDA fell 38% YoY to Rs. 21 crore from Rs. 34.2 crore. Net profit decreased 18% YoY to Rs. 17 crore compared to Rs. 20.8 crore in the year-ago period, with EPS also declining 18% to Rs. 1.02 from Rs. 1.24.

The company reported 3% volume growth in FY26, supported by a strong 12% growth in H2FY26, which more than offset the 5% decline in H1FY26. Management expects this positive volume momentum to continue in the coming quarters.

On a sequential basis, domestic volumes grew in the single digits, driven by improved demand following GST 2.0 implementation. International markets also posted single-digit volume growth, aided by the successful conversion of ongoing client engagements into business opportunities.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The post Chemical Stock Hits 20% Upper Circuit After DGTR Imposes Anti-Dumping Duty on Imports appeared first on Trade Brains.