Sudarshan Chemical Industries logo

Sudarshan Chemical Industries

SUDARSCHEM NSE

Key Fundamentals

MicrocapDyes & PigmentsChemicals
Market Cap
₹9,738 Cr
Volatility
Moderate
P/E Ratio
137.92
EBITDA
₹669 Cr
Return on Equity
1.06%
Debt to Equity
0.72
Book Value
₹442.72
EPS
₹17.32
52W High
₹1,603
52W Low
₹726.4

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 82.7%
  • Debtor days have improved from 93.5 to 62.6 days.
  • Company's working capital requirements have reduced from 91.5 days to 62.2 days

Weaknesses

4
  • Stock is trading at 2.84 times its book value
  • Promoter holding is low: 8.19%
  • Company has a low return on equity of 3.01% over last 3 years.
  • Promoter holding has decreased over last 3 years: -27.6%

Growth Rate

Revenue Growth
192% higher than 3Y
Net Income Growth
-32.34% lower than 3Y
Cash Flow Change
382% higher than 3Y
ROE
-29.8% lower than 3Y
ROCE
116% higher than 3Y
EBITDA Margin (Avg.)
-44.74% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 69d ago
AI opinion · based on fundamentals
Risk high

Sudarshan Chemical Industries trades at a market cap of ₹7,273 Cr with a PE of 177.3x, reflecting a company that has delivered strong top-line growth (10-year sales CAGR of 21%) but has seen compounded profit decline of -13% over 10 years and -76% on a TTM basis. Promoter holding stands at just 8.19%, having fallen 27.6% over three years, while ROE has averaged only 3% over 3 years.

Bull Case 7
  • TTM sales growth of 193% indicates a massive revenue ramp-up, suggesting strong demand or capacity expansion kicking in
  • 10-year compounded sales CAGR of 21% demonstrates consistent top-line expansion over a long period
  • Debtor days improved from 93.5 to 62.6 days, indicating better working capital management and faster cash conversion
  • Company has maintained a healthy dividend payout ratio of 82.8%, returning significant earnings to shareholders
  • 3-year stock CAGR of 23% shows the market has rewarded the company over a medium-term horizon despite profit headwinds
  • 5-year compounded sales CAGR of 39% reflects an accelerating revenue trajectory in recent years
  • Company is expected to deliver a good upcoming quarter, potentially signaling a profit recovery inflection point
Bear Case 8
  • PE ratio of 177.3x is extremely elevated, implying the stock is priced for a massive earnings recovery that may not materialize
  • TTM compounded profit declined 76%, showing severe margin compression or one-off hits to profitability
  • Promoter holding at just 8.19% is unusually low, raising governance and alignment-of-interest concerns
  • Promoter holding has decreased by 27.6% over three years, signaling potential lack of promoter confidence
  • 3-year ROE of just 3% and last year ROE near 0% indicate the company is generating negligible returns on shareholder equity
  • 10-year compounded profit CAGR of -13% shows a structural inability to translate revenue growth into bottom-line earnings
  • 1-year stock return of -27% reflects recent sharp market de-rating amid earnings weakness
  • Price-to-book of 2.04x combined with near-zero ROE means investors are paying a premium for assets generating minimal returns

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 69d ago
Positives 1
  • Promoter converts warrants to equity Jun 16

    Promoter Rajesh Rathi converted 9,80,000 warrants into equity shares at ₹1,019.75 each, increasing promoter holding to 9.32%. This signals promoter confidence in the company's valuation at current levels.

Neutral 2
  • Analyst meet with Anand Rathi Jun 24

    Sudarshan Chemical will hold a video conference with Anand Rathi Institutional Equities on June 26, 2026 at 11:00 AM IST. No unpublished price sensitive information will be discussed.

  • Analyst meet with Theleme Fund Jun 12

    Sudarshan Chemical hosted a one-on-one video conference with Theleme India Master Fund on June 17, 2026.

TL;DR: Sudarshan Chemical shows steady institutional engagement with multiple analyst meetings scheduled in June 2026. The key positive is promoter Rajesh Rathi's warrant conversion at ₹1,019.75, signaling confidence in the business outlook. No material headwinds emerged in the recent news flow. The trend is stable with promoter skin-in-the-game increasing, though limited operational updates make it hard to assess near-term momentum.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
608
601
566
764
634
696
666
1,349
2,507
2,387
2,103
2,790
2,642
Expenses
538
535
504
645
553
602
587
1,222
2,314
2,255
2,065
2,562
2,383
Operating Profit
70
66
62
119
81
94
79
127
192
132
38
227
259
OPM %
11%
11%
11%
16%
13%
14%
12%
9%
8%
6%
1.8%
8%
10%
Other Income
319
6
4
3
4
-6
-26
-38
33
38
-24
32
32
Interest
10
10
9
8
7
9
11
21
44
44
36
41
40
Depreciation
35
35
35
36
36
37
37
57
99
97
101
50
93
PBT
344
26
22
78
41
43
5
11
82
30
-123
168
157
Tax %
22%
32%
34%
26%
28%
30%
89%
97%
33%
35%
-6%
51%
34%
Net Profit
267
18
15
58
29
30
1
0
55
19
-116
82
103
EPS in Rs
38.56
2.58
2.11
8.38
4.25
4.32
0.07
-0.52
6.01
1.49
-14.67
10.01
12.22
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,205
1,401
1,282
1,329
1,593
1,708
1,864
2,201
2,302
2,539
3,346
9,787
9,922
Expenses
1,075
1,232
1,093
1,139
1,386
1,460
1,574
1,923
2,088
2,220
2,962
9,184
9,266
Operating Profit
131
170
189
191
207
248
290
278
213
318
383
603
656
OPM %
11%
12%
15%
14%
13%
15%
16%
13%
9%
13%
11%
6%
7%
Other Income
23
14
25
15
81
22
7
5
5
332
-67
75
78
Interest
41
37
30
25
19
16
20
23
44
39
51
174
161
Depreciation
42
48
49
58
66
74
87
89
114
141
166
347
341
PBT
72
99
136
123
203
180
190
171
60
471
99
157
232
Tax %
24%
29%
25%
31%
33%
20%
26%
24%
25%
24%
39%
74%
—
Net Profit
54
70
101
85
135
145
141
130
45
357
60
41
89
EPS in Rs
7.86
10.1
14.64
12.24
19.52
20.88
20.38
18.77
6.47
51.63
7.11
2.84
9.05
Div. Payout %
22%
30%
24%
29%
31%
30%
29%
27%
23%
9%
63%
176%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
14
14
14
14
14
14
14
14
14
14
16
16
Reserves
249
300
367
426
554
587
730
819
814
1,135
3,377
3,434
Borrowings
433
430
433
431
367
501
618
823
829
467
2,378
2,473
Other Liabilities
317
346
379
433
424
522
638
705
725
730
3,864
3,629
Total Liabilities
1,012
1,090
1,193
1,304
1,358
1,624
2,000
2,361
2,383
2,346
9,634
9,553
Fixed Assets
333
358
452
475
465
627
615
832
1,126
1,102
2,774
2,987
CWIP
8
15
8
6
24
48
278
285
44
15
121
144
Investments
0
0
0
0
0
1
1
2
2
2
545
566
Other Assets
671
716
733
822
869
948
1,105
1,243
1,210
1,227
6,194
5,855
Total Assets
1,012
1,090
1,193
1,304
1,358
1,624
2,000
2,361
2,383
2,346
9,634
9,553
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
112
164
163
148
71
263
165
178
287
193
71
344
Investing
-61
-83
-135
-87
-27
-220
-266
-307
-189
279
-1,610
165
Financing
-43
-81
-38
-62
-48
-39
108
138
-103
-446
2,596
-680
Net Cash Flow
8
0
-10
-2
-3
3
8
9
-5
27
1,057
-171
Free Cash Flow
56
79
29
61
-31
9
-103
-131
96
460
-33
63
CFO/OP
97
109
103
92
50
131
70
78
140
87
40
91
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
96
92
98
92
79
78
95
83
77
84
134
63
Inventory Days
125
113
134
131
119
154
142
163
132
113
515
179
Days Payable
94
96
139
126
94
139
152
150
136
132
287
113
Cash Conversion Cycle
127
109
93
96
105
92
85
96
73
65
362
129
Working Capital Days
26
40
14
43
51
24
29
18
23
40
173
62
ROCE %
16%
19%
22%
18%
17%
18%
17%
13%
6%
11%
6%
5%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Promot.8.19%Public44.52%FIIs8.47%Others12.39%DIIs26.42%As ofJun 2026

Documents

Frequently Asked Questions about Sudarshan Chemical Industries

What does Sudarshan Chemical Industries Ltd do?
Sudarshan Chemical Industries manufactures and sells a wide range of Organic and Inorganic Pigments, Effect Pigments. The Group also manufactures Pollution Control Equipment, Size Reduction Equipment and Grinding Equipments for industrial applications.(Source : 202003 Annual Report Page No:203)
Where is Sudarshan Chemical Industries Ltd (SUDARSCHEM) listed?
Sudarshan Chemical Industries Ltd trades as SUDARSCHEM on the NSE and under code 506655 on the BSE.
Which sector does Sudarshan Chemical Industries Ltd belong to?
Sudarshan Chemical Industries Ltd is classified under the Commodities sector, in the Chemicals & Petrochemicals industry.
What is the market capitalisation of Sudarshan Chemical Industries Ltd?
Sudarshan Chemical Industries Ltd has a market capitalisation of ₹9,738 Cr, which places it in the Mid Cap band.
What is the PE ratio of Sudarshan Chemical Industries Ltd?
Sudarshan Chemical Industries Ltd trades at a PE ratio of 137.92, on earnings per share of ₹17.32, against a book value of ₹442.72 per share.
What is the 52-week high and low of Sudarshan Chemical Industries Ltd?
Over the last 52 weeks Sudarshan Chemical Industries Ltd has traded between ₹726.4 and ₹1,603.
Does Sudarshan Chemical Industries Ltd pay dividends?
Sudarshan Chemical Industries Ltd has a dividend yield of 0.39%.
What is the Return on Equity (ROE) of Sudarshan Chemical Industries Ltd?
Sudarshan Chemical Industries Ltd reported a return on equity of 1.06%. Its debt-to-equity ratio is 0.72.

Company Information

Sudarshan Chemical Industries manufactures and sells a wide range of Organic and Inorganic Pigments, Effect Pigments. The Group also manufactures Pollution Control Equipment, Size Reduction Equipment and Grinding Equipments for industrial applications.(Source : 202003 Annual Report Page No:203)

Website sudarshan.com
CEO Mr. Rajesh Balakrishna Rathi
Employees 1,350
Listed 1995-05-25
Face Value ₹ 2
Issued Size 7,86,11,936

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