Sudarshan Chemical Inds L
NSE: SUDARSCHEM · Dyes And Pigments · sector
₹1,028.90NSE close 2026-10-26
Key numbers
Market cap₹8,180 cr
Price₹1,028.90
52w high / low₹1,347 / ₹726
P/E113.1xSector median 17.5x
P/B2.4xSector median 1.5x
Book value₹434.0
Dividend yield0.44%Sector median 0.44%
ROE2.1%Sector median 10.0%
ROCE6.4%Sector median 11.3%
OPM6.3%Sector median 10.2%
Debt / equity0.61xSector median 0.21x
EV/EBITDA14.2xSector median 10.8x
Interest cover2.2x
Current ratio2.06x
Sales growth 3y+62.0%Sector median +4.5%
Profit growth 3y-20.7%Sector median +7.9%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 11 companies in Dyes And Pigments (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1,398 cr vs borrowings ₹2,119 cr (FY26): borrowings are higher by ₹721 cr.
- Operating profit covered interest 2.2x in the last 12 months.
- No promoter shares are pledged.
- Promoter holding rose by 1.13 percentage points in a year, to 9.32% (2026-09-30).
- Operating cash flow was below net profit in 2 of the last 5 years (FY25, FY24).
- Net loss in 2 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 100% of net profit in the last 12 months.
- Debtor days went from 84 (FY24) to 63 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹1,028.90 on 2026-10-26: -23.6% from the 52-week high, +41.6% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,500.30 · low ₹759.80
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 696 | 666 | 1,349 | 2,507 | 2,387 | 2,103 | 2,790 | 2,642 |
| EBITDA | 83 | 48 | 65 | 192 | 132 | -8 | 243 | 259 |
| OPM % | 12.0% | 7.2% | 4.8% | 7.7% | 5.5% | -0.4% | 8.7% | 9.8% |
| Other income | 5 | 4 | 20 | 26 | 29 | 14 | 10 | 19 |
| Net profit | 30 | 1 | -4 | 47 | 12 | -115 | 79 | 97 |
| EPS (₹) | 4.30 | 0.10 | 7.60 | 6.00 | 1.50 | -14.70 | 10.00 | 12.30 |
| Revenue YoY | +243.0% | +215.6% | +106.7% | +5.4% | ||||
| Profit YoY | -60.9% | -22,707.8% | – | +106.1% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,201 | 2,302 | 2,539 | 3,346 | 9,787 | 9,922 |
| EBITDA | 275 | 211 | 632 | 277 | 560 | 627 |
| Net profit | 130 | 45 | 357 | 56 | 22 | 72 |
| EPS (₹) | 18.80 | 6.50 | 51.60 | 22.50 | 2.80 | 9.10 |
| Revenue growth | +4.6% | +10.3% | +31.8% | +192.5% | +90.1% | |
| Profit growth | -65.6% | +698.4% | -84.4% | -60.0% | -1.5% | |
| Dividend / share (₹) | 6.00 | 5.00 | 5.10 | 1.00 | 4.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +62.0% | +39.3% | +90.1% |
| Net profit | -20.7% | -30.9% | -1.5% |
| EPS | -24.5% | -32.8% | – |
| Share price | – | +3.2% (2y) | -12.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 828 | 1,149 | 3,440 | 3,450 |
| Borrowings | – | 818 | 441 | 2,085 | 2,119 |
| Cash & equivalents | – | 29 | 56 | 1,839 | 1,398 |
| Total assets | – | 2,392 | 2,355 | 9,731 | 9,723 |
| Fixed assets | – | 1,085 | 1,066 | 2,820 | 2,861 |
| Capital work in progress | – | 44 | 15 | 140 | 120 |
| Investments | – | 2 | 2 | 9 | 12 |
| Receivables | – | 486 | 585 | 1,225 | 1,679 |
| Inventory | – | 494 | 438 | 2,465 | 2,444 |
| Payables | – | 509 | 512 | 1,398 | 1,534 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 178 | 287 | 193 | 37 | 344 |
| Cash from investing | -307 | -189 | 279 | -1,548 | 165 |
| Cash from financing | 138 | -103 | -446 | 2,596 | -680 |
| Capex | 310 | 192 | 78 | 95 | 270 |
| Free cash flow | -132 | 95 | 115 | -58 | 74 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 5.4% | 31.1% | 1.6% | 0.6% |
| ROCE % | – | 6.1% | 31.9% | 2.6% | 5.2% |
| Debtor days | – | 77 | 84 | 134 | 63 |
| Inventory days | – | 132 | 113 | 507 | 179 |
| Payable days | – | 136 | 132 | 288 | 113 |
| Cash conversion cycle (days) | – | 73 | 65 | 353 | 129 |
| Working capital days | – | 23 | 48 | 355 | 114 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 9.32% |
| FIIs | 8.84% |
| DIIs | 27.90% |
| of which Mutual funds | 25.44% |
| of which Insurance | 0.04% |
| Public (non-institutions) | 53.94% |
| Quarter | Jan 2025 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 24.28% | 23.89% | 16.40% | 8.19% | 8.19% | 8.19% | 8.19% | 9.32% |
| Promoter group | % |
|---|---|
| Rajesh Balkrishna Rathi | 6.32% |
| SOW Rachna Rathi Family Trust (Trustees - Rajesh Balkrishna Rathi and Rachna Rajesh Rathi) | 1.52% |
| Manan Ajay Rathi | 0.66% |
| Balkrishna Rathi Finance Private Limited | 0.58% |
| Rajesh Balkrishna Rathi (HUF) (Karta - Rajesh Balkrishna Rathi) | 0.22% |
| Rachna Rajesh Rathi | 0.02% |
| Ajay Balkrishna Rathi | 0.00% |
| Ajoy Balkrishna Rathi (HUF) (Karta - Ajay Balkrishna Rathi) | 0.00% |
| Nisha Ajay Rathi | 0.00% |
| Kusum Balkrishna Rathi | 0.00% |
| Balkrishna Jagannath Rathi (HUF) (Karta - Ajay Balkrishna Rathi) | 0.00% |
| Smriti Rajesh Rathi | 0.00% |
| Tanvi Rajesh Rathi | 0.00% |
| Meena Sudhir Maheshwari | 0.00% |
| Shri Balkrishna Rathi Family Trust (Trustees - Rajesh Balkrishna Rathi and Ajay Balkrishna Rathi) | 0.00% |
| Public holders above 1% | % |
|---|---|
| Tata Mutual Fund - Tata Small Cap Fund | 7.62% |
| Hdfc Small Cap Fund | 7.27% |
| Akash Bhanshali | 7.04% |
| Anuj Narayandas Rathi | 4.44% |
| Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund | 3.22% |
| Vijaykumar Ramchandra Rathi | 2.63% |
| Rohit Kishor Rathi | 2.50% |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund | 2.44% |
| Theleme India Master Fund Limited | 2.44% |
| Franklin India Opportunites Fund | 1.68% |
| Pradeep Ramwilas Rathi | 1.48% |
| Rahul Pradeep Rathi | 1.48% |
| Lata Bhanshali | 1.44% |
| Dsp Small Cap Fund | 1.34% |
| Vijay Kishanlal Kedia | 1.26% |
59,612 shareholders. Pledged: 0.00% of promoter shares.
Peers in Dyes And Pigments
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| SUDARSCHEM | ₹8,180 cr | 113.1x | 2.4x | 2.1% | 6.4% | 6.3% | +62.0% | 0.44% |
| KIRIINDUS | ₹3,097 cr | 0.5x | 0.5x | 120.8% | 93.8% | 599.3% | -3.9% | – |
| BODALCHEM | ₹1,705 cr | 24.8x | 1.5x | 6.1% | 8.0% | 8.1% | +8.5% | 0.00% |
| SHREEPUSHK | ₹1,587 cr | 22.0x | 2.6x | 12.6% | 12.6% | 10.2% | +12.6% | 0.41% |
| BHAGERIA | ₹1,483 cr | 21.5x | 2.5x | 11.9% | 13.9% | 11.5% | +20.3% | 0.45% |
| ULTRAMAR | ₹1,078 cr | 11.7x | 1.2x | 10.0% | 13.3% | 16.9% | +12.7% | 1.63% |
| SUDARCOLOR | ₹814 cr | 17.0x | 1.4x | 8.7% | 11.3% | 6.8% | +0.6% | – |
| ASAHISONG | ₹408 cr | 11.7x | 1.5x | 13.2% | 14.2% | 12.4% | +2.0% | 0.44% |
| AKSHARCHEM | ₹311 cr | 10.8x | 1.1x | 10.4% | 8.8% | 10.6% | +3.6% | 0.22% |
| PODDARMENT | ₹267 cr | 17.5x | 0.8x | 4.3% | 6.2% | 6.0% | +3.2% | 1.59% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Pigments | ₹9,524 cr | 97.3% | ₹582 cr | 6.1% |
| Others | ₹265 cr | 2.7% | ₹8 cr | 3.1% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-11 | Dividend | Dividend - Rs 5 Per Share |
| 2025-09-22 | Dividend | Dividend - Rs 4.50 Per Share |
| 2024-07-26 | Dividend | Dividend - Re 1 Per Share |
| 2024-03-19 | Dividend | Interim Dividend - Rs 3.60 Per Share |
| 2023-08-04 | Dividend | Dividend - Rs 1.50 Per Share |
| 2022-08-01 | Dividend | Dividend - Rs 5 Per Share |
| 2021-07-29 | Dividend | Dividend - Rs 6 Per Share |
| 2020-08-27 | Other | Annual General Meeting |
| 2020-03-12 | Dividend | Interim Dividend - Rs 5.8 Per Share Special Dividend - Rs 0.50 Per Share |
| 2019-07-29 | Dividend | Dividend Rs -3.5/Special Dividend Rs 2.5 Per Share |
| 2018-07-19 | Dividend | Dividend- Rs 1 Per Share |
| 2018-02-22 | Dividend | Interim Dividend Rs 2.50 Per Share |
| 2017-07-27 | Dividend | Dividend - Re 1/- Per Share |
| 2017-02-22 | Dividend | Interim Dividend Rs 2.50 Per Share |
| 2016-07-28 | Dividend | Dividend Re 0.50 Per Share |
| 2016-03-21 | Dividend | Interim Dividend - Rs 2.50/- Per Share |
| 2015-07-30 | Dividend | Annual General Meeting/Dividend - Rs 1.75/- Per Share |
| 2014-09-30 | Split | Bonus 1 : 1 / Face Value Split From Rs 10/- To Rs 2/- Per Share |
| 2014-07-24 | Dividend | Annual General Meeting/Dividend Rs 15 Per Share |
| 2013-09-05 | Dividend | Annual General Meeting/Dividend Rs 12.50 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Chemical and Chemical Products, Pharmaceuticals, Medicinal Chemical and Botanical Products
| Sector | Commodities |
| Industry | Dyes And Pigments |
| Sub-industry | Dyes And Pigments |
| Symbol | SUDARSCHEM |
| BSE code | 506655 |
| ISIN | INE659A01023 |
| Face value | ₹2.0 |
| Incorporated | 1951-02-19 |
| Website | www.sudarshan.com |
| Plants (India / abroad) | 3 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.