Asahi Songwon Colors Ltd

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Asahi Songwon Colors Ltd

₹ 370 -2.66%
11 Sep 4:01 p.m.
asahisongwon.com BSE: 532853 NSE: ASAHISONG
About

Incorporated in 1990, Asahi Songwon Colors is one of the leading manufacturers of blue (Phthalocyanine) pigments for ink, plastics, paint, textile and paper industry with globally benchmarked manufacturing capabilities. The company has ventured into manufacturing of yellow, red and orange (AZO) pigments and APIs.[1]

Key Points

Business Segments:
a) Phthalocyanine Pigments:[1][2]
-Products:
CPC Blue crude, Beta Blue, and Alpha Blue
-Manufacturing:
The Padra manufacturing facility is situated
on a 98,000 sq. MT. plot, with 25,000 sq. MT
of additional space available for the future expansion. The facility is backward integrated for Beta and Alpha Blue, with 1 ton of CPC Blue crude required to manufacture 1 ton of each product.

Website BSE NSE - BE
  • Market Cap ₹ 431 Cr.
  • Current Price ₹ 370
  • High / Low ₹ 415 / 179
  • Stock P/E 12.4
  • Book Value ₹ 230
  • Dividend Yield 0.40 %
  • ROCE 8.49 %
  • ROE 7.13 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Company has a low return on equity of 4.95% over last 3 years.
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Chemicals Chemicals & Petrochemicals Dyes And Pigments

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
103 95 102 126 134 142 134 153 150 121 121 144 189
104 90 97 117 121 128 122 136 139 111 110 125 157
Operating Profit -1 5 5 9 14 13 12 17 11 10 10 20 32
OPM % -0.9% 6% 4.9% 7% 10% 10% 9% 11% 7% 8% 8% 14% 17%
1 27 0 1 1 1 2 1 1 2 0 3 1
Interest 3 3 3 4 4 4 4 4 3 3 3 3 3
Depreciation 4 4 4 5 5 5 5 5 5 5 5 5 5
Profit before tax -7 25 -1 1 6 5 4 9 4 4 3 15 25
Tax % -19% 10% 63% 29% 28% 39% 47% 25% 39% 42% 15% 28% 25%
-6 23 -2 1 4 3 2 7 3 2 2 11 19
EPS in Rs -3.95 20.00 -0.87 1.83 4.39 3.26 2.63 6.48 2.68 1.91 2.10 9.22 16.31
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
294 284 283 411 505 426 562 535 575
253 249 233 379 499 408 506 486 503
Operating Profit 40 34 50 32 5 18 57 50 71
OPM % 14% 12% 18% 8% 1.1% 4.3% 10% 9% 12%
-1 1 4 6 6 28 4 7 6
Interest 5 4 2 5 14 13 16 12 12
Depreciation 8 8 9 12 15 16 19 19 19
Profit before tax 26 23 44 21 -18 18 25 26 47
Tax % 30% 2% 27% 30% 4% 13% 33% 30%
18 23 32 15 -18 16 17 18 34
EPS in Rs 14.88 18.98 26.78 16.10 -9.88 17.01 16.76 15.92 29.54
Dividend Payout % 20% 16% 13% 3% -5% 3% 9% 9%
Compounded Sales Growth
10 Years: %
5 Years: 14%
3 Years: 2%
TTM: -1%
Compounded Profit Growth
10 Years: %
5 Years: -8%
3 Years: 53%
TTM: 96%
Stock Price CAGR
10 Years: 8%
5 Years: 0%
3 Years: 15%
1 Year: 31%
Return on Equity
10 Years: %
5 Years: 4%
3 Years: 5%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 12 12 12 12 12 12 12 12
Reserves 181 189 215 230 207 224 243 260
62 22 50 87 180 197 167 143
54 55 112 138 147 138 162 188
Total Liabilities 309 278 389 468 545 570 584 603
150 129 213 235 275 306 305 287
CWIP 1 11 9 0 25 11 0 0
Investments 14 13 2 1 1 1 0 2
143 125 166 231 244 253 278 314
Total Assets 309 278 389 468 545 570 584 603

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
27 57 8 -0 30 9 58 43
-3 -16 -60 -28 -77 -13 -5 -7
-24 -39 50 28 47 4 -49 -38
Net Cash Flow 0 2 -2 -0 0 -0 3 -2
Free Cash Flow 23 45 -61 -27 1 2 53 38
CFO/OP 85% 174% 35% 28% 637% 43% 118% 105%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 68 71 101 80 77 105 96 94
Inventory Days 132 62 114 151 83 103 86 127
Days Payable 66 51 98 104 79 96 110 135
Cash Conversion Cycle 134 82 117 127 82 111 72 85
Working Capital Days 77 99 90 74 12 25 27 37
ROCE % 11% 15% 7% -1% 1% 9% 8%

Insights

In beta
Mar 2014 Mar 2018 Mar 2024 Mar 2025 Mar 2026
Number of Customers Served
count

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Printing Ink Industry Revenue Share (% of Pigment Revenue)
%
AZO Pigment Capacity Utilization
%
Export Revenue % of Total Revenue
%
Number of Exporting Countries
count
Phthalocyanine (Blue) Pigment Capacity Utilization
%
API Pregabalin Volume Growth (3-year CAGR)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

2 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
66.73% 66.77% 66.77% 66.77% 66.83% 66.83% 66.83% 66.83% 67.00% 67.00% 67.00% 67.00%
0.00% 0.17% 0.10% 0.07% 0.07% 0.00% 0.00% 0.00% 0.08% 0.00% 0.05% 0.01%
0.00% 0.00% 0.00% 0.00% 0.21% 0.00% 0.00% 0.00% 0.03% 0.30% 0.31% 0.32%
33.27% 33.05% 33.13% 33.16% 32.89% 33.17% 33.17% 33.16% 32.90% 32.71% 32.64% 32.67%
No. of Shareholders 10,39110,3949,0309,05310,0709,8529,7729,7649,76410,1419,7319,792

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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