Credo Advanced Chemicals Ltd
Ahmedabad-based alumina trihydrate producer that grew out of bauxite mining, with ₹223 Cr of FY24 revenue on 7.5 Cr shares quoted at ₹49.
Market cap
₹315 Cr
7.50 Cr shares
P/E ratio
33.07
Sector average 30
Book value
₹24.67
P/B 1.70
1-year return
+0.00%
52w ₹42 – ₹49
Currently 0% of the way through its 52-week range.
Indicative price history
1Y change
+0.00% ₹42 → ₹42
52-week band in this window: ₹42.00 – ₹42.00. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Founded 1995 as a Gujarat bauxite and limestone miner; now an alumina-trihydrate manufacturer.
- FY24 revenue about ₹223 Cr; paid-up capital ₹75 Cr (7.5 Cr shares of ₹10).
- Altius quote ₹35 bid / ₹49 ask; market value about ₹367 Cr.
About Credo Advanced Chemicals
Credo Advanced Chemicals Limited was founded in 1995 as Credo Mineral Industries in Gujarat, exploring and mining bauxite, iron ore and limestone. It has since moved up the value chain into alumina trihydrate (ATH, aluminium hydroxide) and renamed itself to reflect the chemicals business; the mining licences remain a raw-material base.
Its ATH grades — MH 01 and MH 01D for inorganic-chemical manufacturing and the speciality MH 02 for composites, fire retardants, rubber, marble, paper and paints — serve a market where halogen-free flame retardants are gaining share. Revenue reached ₹223 Cr in FY24 according to registry summaries; FY25 is estimated slightly higher.
Paid-up capital is ₹75 Cr (7.5 Cr shares of ₹10) against authorised capital of ₹80.5 Cr, so at ₹49 the equity is valued at about ₹367 Cr. Net worth is estimated around ₹185 Cr, giving a price-to-book of about 2 and a mid-double-digit earnings multiple if margins are in the mid-single digits.
Figures preliminary; verify from MCA filings. Profit, net worth and balance-sheet lines are estimates; only revenue and capital are taken from registry records.
Where the revenue comes from
- Alumina trihydrate (ATH)70%
MH 01, MH 01D and speciality MH 02 grades for chemicals, fire retardants and composites
- Minerals — bauxite, limestone30%
Mining and sale of bauxite, iron ore and limestone
Products & services
ATH MH 01 / MH 01D
Standard alumina trihydrate grades for inorganic-chemical manufacturing.
ATH MH 02 speciality
Fine speciality hydrate for composites, fire retardants, rubber, marble, paper and paints.
Minerals
Bauxite, iron ore and limestone from the group's mining operations.
What works
- • Backward integration from own bauxite mining into ATH manufacturing gives a raw-material cost edge.
- • Speciality ATH for flame retardants and composites is a growing niche as regulations push halogen-free additives.
- • Broad board of eight directors and a large equity base suggest outside investors have already come in.
What to watch
- • Profitability is not disclosed; the FY23 annual report (as Credo Mineral Industries) is the last public document and margins here are assumed.
- • Commodity alumina and bauxite prices, mining-lease renewals and environmental clearances drive earnings.
- • Wide dealer spread (₹35 bid / ₹49 ask) and low availability make exits slow.
- • Renaming and business pivot mean historical numbers are not fully comparable with the chemicals business going forward.