SUDARSCHEM

Sudarshan Chemical Industries Limited

Pigments and colourants for coatings, plastics and specialty applications

Commodities›Chemicals›Chemicals & Petrochemicals›Dyes And Pigments

sudarshan.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1138.30
Market cap
9,005 Cr
Stock P/E
124.4
P/B
2.59
Dividend yield
0.4%
ROE (FY26)
0.6%
ROCE (FY26)
5.4%
Operating margin (FY26)
2.5%
Debt / equity (FY26)
0.61
OCF / EBITDA (FY26)
58.3%
OCF / EBITDA (3Y)
44.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Sudarshan Chemical makes pigments, selling to more than 4,000 customers worldwide from 19 manufacturing sites in 11 countries, after acquiring Germany's Heubach Group in March 2025.

Company snapshot

1stBy market cap

Ranked among 11 companies in Dyes And Pigments.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 92.7% of revenue

SegmentRevenue shareRevenuePBTAssets
Others
7.4%
147 Cr-23 Cr—
Pigments
92.7%
1,850 Cr139 Cr—

What we see

Positives
  • ✓Dividend payout of 87% — the company returns a meaningful share of profits to shareholders.
Concerns
  • ✗Net margin is very thin at 0.4% — little room for error if costs rise.
2 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales601 Cr566 Cr764 Cr634 Cr696 Cr666 Cr1,349 Cr2,507 Cr2,387 Cr2,103 Cr2,790 Cr2,642 Cr
Operating expenses (approx.)535 Cr504 Cr645 Cr553 Cr602 Cr587 Cr1,222 Cr2,315 Cr2,255 Cr2,065 Cr2,563 Cr2,383 Cr
EBITDA66 Cr62 Cr119 Cr81 Cr94 Cr79 Cr127 Cr192 Cr132 Cr38 Cr227 Cr259 Cr
OPM %10.9%10.9%15.6%12.7%13.6%11.9%9.4%7.7%5.5%1.8%8.2%9.8%
Other income6 Cr4 Cr3 Cr4 Cr5 Cr4 Cr20 Cr26 Cr29 Cr14 Cr10 Cr19 Cr
Interest10 Cr9 Cr8 Cr7 Cr9 Cr11 Cr21 Cr44 Cr44 Cr36 Cr41 Cr41 Cr
Depreciation35 Cr35 Cr36 Cr36 Cr37 Cr37 Cr57 Cr99 Cr97 Cr101 Cr50 Cr93 Cr
Profit before tax26 Cr22 Cr78 Cr41 Cr43 Cr5 Cr11 Cr82 Cr30 Cr-123 Cr168 Cr157 Cr
Tax %31.9%33.9%25.6%28.4%30.1%89.0%97.0%33.1%34.6%5.5%50.8%34.3%
Net profit18 Cr15 Cr58 Cr29 Cr30 Cr0.51 Cr0.31 Cr55 Cr19 Cr-116 Cr83 Cr103 Cr
EPS (₹)₹2.60₹2.10₹8.40₹4.30₹4.30₹0.10₹7.60₹6.00₹1.50₹-14.70₹10.00₹12.30

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,379 Cr1,479 Cr1,593 Cr1,708 Cr1,864 Cr2,201 Cr2,302 Cr2,539 Cr3,346 Cr9,787 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,194 Cr1,285 Cr1,389 Cr1,462 Cr1,576 Cr1,926 Cr2,091 Cr2,222 Cr2,965 Cr9,197 CrSign in free for the trailing twelve months
EBITDA184 Cr193 Cr204 Cr246 Cr288 Cr275 Cr211 Cr316 Cr381 Cr590 CrSign in free for the trailing twelve months
OPM %13.4%13.1%12.8%14.4%15.4%12.5%9.2%12.5%11.4%6.0%Sign in free for the trailing twelve months
Other income18 Cr10 Cr7 Cr5 Cr7 Cr5 Cr5 Cr17 Cr33 Cr79 CrSign in free for the trailing twelve months
Interest27 Cr27 Cr17 Cr14 Cr18 Cr19 Cr41 Cr37 Cr48 Cr165 CrSign in free for the trailing twelve months
Depreciation49 Cr59 Cr66 Cr74 Cr87 Cr89 Cr114 Cr141 Cr166 Cr347 CrSign in free for the trailing twelve months
Profit before tax126 Cr127 Cr201 Cr180 Cr190 Cr171 Cr60 Cr471 Cr99 Cr157 CrSign in free for the trailing twelve months
Tax %27.2%33.2%33.9%19.5%25.9%24.1%25.1%24.0%39.3%73.9%Sign in free for the trailing twelve months
Net profit101 Cr85 Cr135 Cr145 Cr141 Cr130 Cr45 Cr357 Cr60 Cr41 CrSign in free for the trailing twelve months
EPS (₹)₹14.64₹12.24—₹20.90₹20.40₹18.80₹6.50₹51.60₹22.50₹2.80Sign in free for the trailing twelve months
Dividend payout %————0.3%31.6%76.6%9.3%15.3%87.3%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital14 Cr14 Cr14 Cr14 Cr14 Cr14 Cr14 Cr14 Cr16 Cr16 Cr
Reserves367 Cr426 Cr554 Cr587 Cr730 Cr819 Cr814 Cr1,135 Cr3,424 Cr3,435 Cr
Borrowings341 Cr361 Cr303 Cr451 Cr487 Cr819 Cr817 Cr441 Cr2,085 Cr2,119 Cr
Other liabilities480 Cr510 Cr490 Cr578 Cr773 Cr717 Cr746 Cr765 Cr3,608 Cr3,750 Cr
Total liabilities1,202 Cr1,311 Cr1,360 Cr1,630 Cr2,003 Cr2,369 Cr2,392 Cr2,355 Cr9,731 Cr9,723 Cr
Fixed assets (net)430 Cr453 Cr454 Cr599 Cr577 Cr796 Cr1,085 Cr1,066 Cr2,820 Cr2,861 Cr
CWIP8 Cr6 Cr18 Cr44 Cr269 Cr273 Cr44 Cr15 Cr140 Cr120 Cr
Investments0.47 Cr0.49 Cr0.01 Cr0.89 Cr1 Cr2 Cr2 Cr2 Cr548 Cr566 Cr
Loans & advances———0 Cr0 Cr0 Cr0 Cr0 Cr0.39 Cr3 Cr
Inventories261 Cr273 Cr308 Cr411 Cr412 Cr566 Cr494 Cr438 Cr2,465 Cr2,444 Cr
Trade receivables343 Cr333 Cr346 Cr364 Cr485 Cr501 Cr486 Cr585 Cr1,225 Cr1,679 Cr
Cash & bank10 Cr7 Cr5 Cr8 Cr16 Cr25 Cr20 Cr47 Cr1,104 Cr933 Cr
Other assets149 Cr239 Cr229 Cr203 Cr244 Cr206 Cr260 Cr202 Cr1,428 Cr1,118 Cr
Total assets1,202 Cr1,311 Cr1,360 Cr1,630 Cr2,003 Cr2,369 Cr2,392 Cr2,355 Cr9,731 Cr9,723 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity163 Cr148 Cr71 Cr263 Cr165 Cr178 Cr287 Cr193 Cr37 Cr344 Cr
Cash from investing-135 Cr-87 Cr-27 Cr-220 Cr-266 Cr-307 Cr-189 Cr279 Cr-1,548 Cr165 Cr
Cash from financing-38 Cr-62 Cr-48 Cr-39 Cr108 Cr138 Cr-103 Cr-446 Cr2,596 Cr-680 Cr
Net cash flow-10 Cr-2 Cr-3 Cr3 Cr8 Cr9 Cr-5 Cr27 Cr1,057 Cr-171 Cr
Free cash flow (OCF − Capex)28 Cr59 Cr-31 Cr7 Cr-104 Cr-132 Cr95 Cr115 Cr-58 Cr74 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %21.2%19.2%25.0%18.4%16.9%11.5%6.1%31.9%2.4%5.4%
ROE %26.6%19.3%23.8%24.1%19.0%15.6%5.4%31.1%1.4%0.6%
Debtor days918279789583778413362
Inventory days134119119150147150137116270187
Days payable13911593136157138141135153117
Cash conversion cycle86861049284957364250132
OCF / EBITDA %88.7%76.3%34.8%106.6%57.4%64.8%136.3%61.1%9.7%58.3%
OCF / EBITDA % (3 years)——65.7%74.8%67.6%74.9%81.5%82.1%57.0%44.6%
Debt / equity0.890.820.530.750.660.980.990.380.610.61
Current ratio1.111.231.391.181.201.131.141.382.122.06
Net debt / EBITDA1.80—1.461.801.642.893.781.242.572.01