Chamanlal Setia Exports Ltd (CLSEL)

Fast Moving Consumer Goods · FMCG · NSE · Updated 30 September 2026

By StockFin Research TeamAI-Assisted AnalysisSource: BSE/NSE Filings

₹286.25↑ 8.82% (1Y)

🎯 Key Takeaways

Chamanlal Setia Exports Ltd is a mid-cap FMCG exporter with a strong focus on international markets, particularly in the Middle East and Africa, leveraging pricing power and strategic inventory management to drive profitability. The company operates in a niche segment of commodity exports with healthy margins, supported by favorable procurement and brand differentiation.
Revenue declined 19.2% QoQ to ₹346 in Q1FY27.
⚠️ 1) Geopolitical instability in key export markets (e.g., Red Sea region) could disrupt logistics and demand. 2) Reliance on export pricing and volumes

Market Cap: ₹1,423
P/E Ratio: 11.4
P/B Ratio: 1.70
ROE: 14.9%
ROCE: 19.2%
Debt/Equity: 0.10
Div Yield: 1.05%
Promoter: 74.0%

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📖 The Story

Chamanlal Setia Exports Ltd is a mid-cap FMCG exporter with a strong focus on international markets, particularly in the Middle East and Africa, leveraging pricing power and strategic inventory management to drive profitability. The company operates in a niche segment of commodity exports with healthy margins, supported by favorable procurement and brand differentiation. It is currently in a growth phase driven by export expansion and margin resilience, with minimal capital expenditure and a conservative balance sheet.

📰 What's Happening

In Q1 FY27, export sales surged to INR 1,268 crore, constituting 91% of total revenue, up from 73% in FY23, reflecting successful market diversification and demand capture across the US, Europe, Africa, and Saudi Arabia. Management highlighted a 500-ton shipment to Jeddah delivered within 1-2 days and a new 2.5 lakh ton order from a Saudi buyer, underscoring growing international traction. Despite geopolitical tensions, the company maintained EBITDA margins at 12.59%, outperforming peer averages, and achieved strong gross margins due to inventory built at lower purchase prices. Management remains focused on expanding domestic sales and brand presence in existing and new markets.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	273	431	428	346
Operating Profit	23	50	51	42
OPM %	8.5%	11.6%	11.8%	12.2%
Net Profit	19	36	38	32
EPS	₹3.81	₹7.24	₹7.70	₹6.44

Revenue has shown volatility but stabilized at higher levels, with Q1 FY27 revenue at INR 346 crore, down sequentially from INR 428 crore in Q4 FY26 but up significantly from INR 273 crore in Q3 FY25, indicating improved quarter-on-quarter momentum. Operating margins have held steady around 11.8-12.2%, supporting consistent net profit growth and EPS expansion from INR 3.81 to INR 7.70 over the past year. The company has demonstrated resilience in profitability despite macro headwinds, with margins supported by favorable procurement and pricing discipline.

🔮 Management Outlook & What's Next

Management has provided a clear revenue target of INR 1,800-2,000 crore for FY27 and reaffirmed EBITDA margin guidance of 12%-18%, citing favorable procurement, quality-driven customer relationships, and brand strength in international markets. They emphasized organic growth through existing infrastructure, with no new CapEx planned, and highlighted the resilience of domestic margins at INR 64/kg versus export INR 98/kg. The focus remains on sustaining profitability while expanding brand presence and customer base.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	10	10	10	10
Reserves	723	665	828	750
Borrowings	123	48	83	67
Total Liabilities	968	874	1,040	972
Fixed Assets	156	149	167	163
Investments	0	1	0	74
Total Assets	968	874	1,040	972

The balance sheet remains conservative, with total assets growing modestly to INR 1,040 crore in March 2026 from INR 972 crore in March 2025, driven by equity and reserves. Borrowings have declined significantly to INR 83 crore from INR 123 crore year-on-year, indicating active deleveraging. Equity remains stable at INR 10 crore, with reserves increasing to INR 828 crore, reflecting retained earnings and a strong capital base. This financial profile supports a low-risk capital allocation strategy focused on internal funding and shareholder returns.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025	Mar 2026
Operating	+73	+51
Investing	-11	-2
Financing	-62	-49
Net Cash Flow	-0	+0

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	74.0%	74.0%	74.0%	74.0%
FII	2.8%	3.1%	3.1%	3.3%
DII	2.0%	1.6%	1.6%	1.6%
Public	17.1%	17.0%	16.9%	16.6%
# Shareholders	29,463	28,474	27,693	27,647

Promoter holding remains stable at 74.05% over the past year, indicating confidence in long-term prospects. Institutional interest is growing, with FII shareholding rising from 2.81% in Q2 FY26 to 3.3% in Q1 FY27, and DII increasing slightly from 1.57% to 1.58%. The number of public shareholders has slightly declined, but overall shareholder base remains broad. No significant selling or accumulation signals are evident, suggesting stable investor sentiment.

⚖️ Peer Comparison — FMCG

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
HINDUNILVR	4.45 L Cr	29.8	29.8%	—	0.00
ITC	3.32 L Cr	16.7	36.0%	—	0.03
NESTLEIND	2.60 L Cr	68.1	99.2%	—	0.00
VBL	1.45 L Cr	43.0	21.5%	—	0.10
BRITANNIA	1.18 L Cr	45.5	54.1%	—	0.27
LENSKART	1.14 L Cr	171.2	11.9%	—	0.03
MARICO	1.05 L Cr	55.3	54.2%	—	0.08
TATACONSUM	94,808	58.0	10.2%	—	0.10
GODREJCP	89,022	46.5	17.8%	—	0.33
DABUR	68,475	34.7	21.3%	—	0.09

🔗 Peer Stock Analyses

HINDUNILVR ITC NESTLEIND VBL BRITANNIA

⚠️ Risk Factors

1) Geopolitical instability in key export markets (e.g., Red Sea region) could disrupt logistics and demand. 2) Reliance on export pricing and volumes makes the company vulnerable to commodity price fluctuations and global demand shifts. 3) Limited product differentiation may constrain long-term margin expansion if competitive pressures increase. 4) Domestic growth is still nascent, and execution in new markets may face operational or regulatory challenges.

📋 Recent Filings

🧠 Analyst's Read

Chamanlal Setia Exports is executing a disciplined export-led growth strategy with improving margins and a resilient balance sheet, but its performance remains highly sensitive to global trade dynamics and commodity cycles. Investors should monitor order inflows, margin sustainability, and progress in domestic market penetration as key near-term catalysts.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-30.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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