---
title: "Saroja Pharma Industries India Ltd (SAROJA) — Share Price, Financials & Analysis"
symbol: "SAROJA"
company: "Saroja Pharma Industries India Ltd"
canonical: "https://tapetide.com/stocks/SAROJA"
isin: "INE0PCL01011"
nse_symbol: "SAROJA"
sector: "Commodities"
industry: "Chemicals & Petrochemicals"
market_cap_cr: 16
generated_at: "2026-09-13T18:39:22.405Z"
---

# Saroja Pharma Industries India Ltd (SAROJA)

Canonical page: https://tapetide.com/stocks/SAROJA

## Company

- **NSE Symbol:** SAROJA
- **ISIN:** INE0PCL01011
- **Sector:** Commodities
- **Industry:** Chemicals & Petrochemicals
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2023-09-13
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** sarojapharma.com

## About

Incorporated in 2023, Saroja Pharma Ltd is  mainly in the business of trading Thionyl Chloride chemical and pharmaceutical intermeddles, etc.[1]

## Latest Price

- **Price:** ₹39.8
- **Change:** 0 (0%)
- **Open:** ₹39.95
- **Day High:** ₹39.95
- **Day Low:** ₹39.8
- **Previous Close:** ₹39.8
- **Volume:** 0
- **As Of:** 2026-09-11T10:01:12+00:00

## Key Fundamentals

Observed at 2026-09-11T04:49:51.238781Z.

- **Market Cap:** ₹16 Cr
- **Classification:** SME
- **P/E (reported):** 9.9
- **Book Value:** ₹43.01
- **Price to Book:** 0.93
- **Dividend Yield:** 0%
- **ROE:** 6.6%
- **ROCE:** 16.75%
- **Debt to Equity:** 0.83
- **Revenue (yearly):** ₹70.13 Cr
- **Net Income:** ₹1.62 Cr
- **EBITDA:** ₹3.7 Cr
- **52-Week High:** ₹48
- **52-Week Low:** ₹28
- **RSI (14):** 60.7

## Key Insights

### Strengths

- Stock is trading at 0.93 times its book value
- Debtor days have improved from 139 to 89.9 days.

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 8.50% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 12.75% | -47.49% | 209.52% |
| ebitda margin growth | -4.17% | -21.43% | 21.66% |
| net income growth | 62% | 15% | 17% |
| revenue growth | 30.11% | 12% | 14% |
| roce | 9.05% | -52.86% | 33.44% |
| roe | 10% | 11.15% | -91.55% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 26.54 | 23.73 | 21.12 | 19.36 | 18.79 | 35.11 | 38.76 | 31.47 |
| Expenses | 25.18 | 22.28 | 19.95 | 18.17 | 17.58 | 33.34 | 37.39 | 29.04 |
| Operating Profit | 1.36 | 1.45 | 1.17 | 1.19 | 1.21 | 1.77 | 1.37 | 2.43 |
| OPM % | 5.12 | 6.11 | 5.54 | 6.15 | 6.44 | 5.04 | 3.53 | 7.72 |
| Other Income | 0.08 | 0 | 0.39 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0.68 | 0.64 | 0.83 | 0.62 | 0.69 | 0.72 | 0.53 | 0.93 |
| Depreciation | 0 | 0.07 | 0.04 | 0.06 | 0.05 | 0.06 | 0.06 | 0.05 |
| Profit before tax | 0.76 | 0.74 | 0.69 | 0.51 | 0.47 | 0.99 | 0.78 | 1.45 |
| Tax % | 27.63 | 27.03 | 27.54 | 27.45 | 27.66 | 29.29 | 26.92 | 28.28 |
| Net Profit | 0.55 | 0.54 | 0.5 | 0.38 | 0.34 | 0.7 | 0.57 | 1.04 |
| EPS in Rs | 24.36 | 1.84 | 1.24 | 0.95 | 0.85 | 1.74 | 1.42 | 2.59 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 36.66 | 55.63 | 50.19 | 40.67 | 53.73 | 70.24 |
| Expenses | 35.36 | 53.53 | 47.47 | 38.11 | 50.95 | 66.43 |
| Operating Profit | 1.3 | 2.1 | 2.72 | 2.56 | 2.78 | 3.81 |
| OPM % | 3.55 | 3.77 | 5.42 | 6.29 | 5.17 | 5.42 |
| Other Income | 0.09 | 0.32 | 0.16 | 0.19 | 0.19 | 0 |
| Interest | 0.33 | 0.8 | 1.32 | 1.45 | 1.41 | 1.46 |
| Depreciation | 0.02 | 0.05 | 0.07 | 0.09 | 0.11 | 0.11 |
| Profit before tax | 1.04 | 1.57 | 1.49 | 1.21 | 1.45 | 2.24 |
| Tax % | 28.85 | 28.03 | 28.86 | 27.27 | 28.97 | 27.68 |
| Net Profit | 0.73 | 1.14 | 1.06 | 0.88 | 1.03 | 1.62 |
| EPS in Rs | 730 | 50.49 | 3.61 | 2.19 | 2.56 | 4.03 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.01 | 0.23 | 2.94 | 4.02 | 4.02 | 4.02 |
| Reserves | 0.93 | 3.8 | 2.15 | 10.62 | 11.66 | 13.27 |
| Borrowings | 3.02 | 6.14 | 10.18 | 5.73 | 9.46 | 14.41 |
| Other Liabilities | 4.26 | 5.34 | 6.07 | 6.2 | 14.41 | 10.05 |
| Total Liabilities | 8.22 | 15.51 | 21.34 | 26.57 | 39.55 | 41.75 |
| Fixed Assets | 0.09 | 0.34 | 2.22 | 2.51 | 2.51 | 2.18 |
| CWIP | 0 | 0 | 1.79 | 6.13 | 8.61 | 20.34 |
| Investments | 0 | 0.04 | 0.14 | 0.2 | 0.34 | 0.54 |
| Other Assets | 8.13 | 15.13 | 17.19 | 17.73 | 28.09 | 18.69 |
| Total Assets | 8.22 | 15.51 | 21.34 | 26.57 | 39.55 | 41.75 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -1.05 | -3.67 | 2.19 | 1.02 | 1.15 | 7.44 |
| Cash from Investing Activity | -0.05 | -0.34 | -4.82 | -4.76 | -2.7 | -11.68 |
| Cash from Financing Activity | 1.03 | 4.27 | 2.73 | 3.7 | 1.56 | 4.25 |
| Net Cash Flow | -0.07 | 0.26 | 0.1 | -0.04 | 0.01 | 0.01 |
| Free Cash Flow | -1.1 | -3.97 | -1.54 | -3.71 | -1.45 | -4.06 |
| CFO/OP | -58 | -154 | 96 | 53 | 56 | 212 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 71.88 | 91.73 | 80.8 | 145.75 | 180.56 | 89.9 |
| Inventory Days | 7.23 | 3.41 | 31.18 | 4.1 | 0.75 | 4.92 |
| Days Payable | 45.43 | 38.52 | 47.22 | 57.45 | 102.56 | 48.43 |
| Cash Conversion Cycle | 33.68 | 56.62 | 64.76 | 92.39 | 78.76 | 46.38 |
| Working Capital Days | 22.2 | 33.07 | 17.16 | 71.71 | 29.89 | 5.87 |
| ROCE % | — | 33.55 | 22.09 | 14.93 | 12.57 | 13.02 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 73.02% | 73.02% | 73.02% | 73.02% | 73.02% | 73.02% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 24.32% | 24.08% | 24.04% | 24% | 23.6% | 22.6% |
| Others | 2.67% | 2.91% | 2.94% | 2.98% | 3.38% | 4.38% |
| No. of Shareholders | 641 | 506 | 438 | 422 | 435 | 413 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 6 / 1

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 39.66 | Buy |
| EMA (10) | 38.94 | Buy |
| SMA (20) | 35.12 | Buy |
| EMA (20) | 36.79 | Buy |
| SMA (50) | 33.04 | Buy |
| EMA (50) | 34.92 | Buy |
| SMA (100) | 35.48 | Buy |
| EMA (100) | 35.97 | Buy |
| SMA (200) | 38.99 | Buy |
| EMA (200) | 38.79 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 60.66 | Neutral |
| MACD (12,26,9) | 2.43 | Buy |
| Stochastic (14,3,3) | 88.31 | Sell |
| ADX (14) | 22.04 | Neutral |
| Williams %R (14) | -20.48 | Neutral |
| ATR (14) | 1.6 | High Volatility |
| ROC (12) | 26.55 | Buy |
| Stoch RSI (14) | 40.93 | Neutral |
| UO (7,14,28) | 61.69 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Newspaper advertisement published for 8th AGM notice and e-voting information on 30 September 2026. | [Copy of Newspaper Publication 9 Sep - Newspaper advertisement published for 8th AGM notice and e-voting information on 30 September 2026.](https://nsearchives.nseindia.com/corporate/SAROJAPHARMA_09092026112540_letter_SE_NP_Merged.pdf) |
| 9 October 2025 - Board appointed Santosh Palav (Non‑Executive Director) and Ravindra Salaskar (Whole‑time Director, KMP) effective 09 Oct 2025; Salaskar five-year term. | [Change in Director(s) 9 October 2025 - Board appointed Santosh Palav (Non‑Executive Director) and Ravindra Salaskar (Whole‑time Director, KMP) effective 09 Oct 2025; Salaskar five-year term.](https://nsearchives.nseindia.com/corporate/SAROJAPHARMA_09102025192022_SEIntimationsd12.pdf) |
| 7 Sep - Board approved FY26 Board Report, MD&A and 8th AGM notice. | [Outcome of Board Meeting 7 Sep - Board approved FY26 Board Report, MD&A and 8th AGM notice.](https://nsearchives.nseindia.com/corporate/SAROJAPHARMA_07092026201023_bm_outcome_sd.pdf) |
| 7 Sep - 08th AGM on 30 Sep 2026; shareholders to approve financials and director appointments. | [Shareholders meeting 7 Sep - 08th AGM on 30 Sep 2026; shareholders to approve financials and director appointments.](https://nsearchives.nseindia.com/corporate/SAROJAPHARMA_07092026210410_notice_agm_2026_merged.pdf) |
| 31 May - No deviation in Rs. 9.11 crore IPO fund use for FY2026; Rs. 911.23 lakh fully utilized. | [Statement of deviation(s) or variation(s) under Reg. 32 31 May - No deviation in Rs. 9.11 crore IPO fund use for FY2026; Rs. 911.23 lakh fully utilized.](https://nsearchives.nseindia.com/corporate/SAROJAPHARMA_31052026143454_SOD12.pdf) |
| 30 May - Compliance certificate for year ended March 31, 2026; SDD captured 21 required events with no non-compliance. | [Structural Digital Database 30 May - Compliance certificate for year ended March 31, 2026; SDD captured 21 required events with no non-compliance.](https://nsearchives.nseindia.com/corporate/SAROJAPHARMA_30052026223319_SDD_COMP_CERTIFICATE-_SAROJA2026sd.pdf) |
| 30 May - Board approved audited standalone results for half year and FY ended 31 March 2026; auditors gave unmodified opinion. | [Outcome of Board Meeting 30 May - Board approved audited standalone results for half year and FY ended 31 March 2026; auditors gave unmodified opinion.](https://nsearchives.nseindia.com/corporate/SAROJAPHARMA_30052026170407_outcome123.pdf) |
| 28 Aug - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written … | [Price movement 28 Aug - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written …](https://www.nseindia.com/companies-listing/corporate-filings-announcements?symbol=SAROJA&tabIndex=sme) |
| 27 March 2026 - Trading window closed from 01 April 2026 until 48 hours after unaudited FY2026 results declaration. | [Trading Window 27 March 2026 - Trading window closed from 01 April 2026 until 48 hours after unaudited FY2026 results declaration.](https://nsearchives.nseindia.com/corporate/SAROJAPHARMA_27032026222455_COTW31032026sd.pdf) |
| 22 Aug - Board re-designates Mr. Pulinattu Nandakumar as Whole-time Director; appoints Mr. Niraj Variava Internal Auditor for FY27. | [Outcome of Board Meeting 22 Aug - Board re-designates Mr. Pulinattu Nandakumar as Whole-time Director; appoints Mr. Niraj Variava Internal Auditor for FY27.](https://nsearchives.nseindia.com/corporate/SAROJAPHARMA_22082026153227_Outcome_of_Board_meeting__1_-S.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31796_SAROJA_2025_2026_A_5739021_07092026210025.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28781_SAROJA_2024_2025_A_7662121_06092025172435.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26186_SAROJA_2023_2024_07092024211830.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:39:22.405Z.