Shanti Inorganics Ltd
Incorporated in January 2010,
Shanti Inorganics Ltd. manufactures
and trades sulfur-based inorganic
chemicals.[1]
- Market Cap ₹ 323 Cr.
- Current Price ₹ 187
- High / Low ₹ 224 / 150
- Stock P/E 31.7
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 23.4 %
- ROE 27.6 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 30.1%
Cons
- 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 Commodity Chemicals
Quarterly Results
Figures in Rs. Crores
| Sales |
| Operating Profit |
| OPM % |
| Interest |
| Depreciation |
| Profit before tax |
| Tax % |
| EPS in Rs |
| Raw PDF |
Profit & Loss
Figures in Rs. Crores
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| 45 | 57 | 71 | |
| Sales growth | +27% | +25% | |
| 36 | 45 | 56 | |
| Operating Profit | 9 | 12 | 15 |
| OPM % | 19% | 21% | 22% |
| 0 | 1 | 2 | |
| Interest | 1 | 2 | 1 |
| Depreciation | 1 | 1 | 2 |
| Profit before tax | 7 | 11 | 14 |
| Tax % | 25% | 26% | 26% |
| 5 | 8 | 10 | |
| EPS in Rs | 5.02 | 7.83 | 8.84 |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 25% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 34% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 30% |
| Last Year: | 28% |
Balance Sheet
Figures in Rs. Crores
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Equity Capital | 0.64 | 0.64 | 12 |
| Reserves | 17 | 25 | 37 |
| 24 | 25 | 31 | |
| 11 | 15 | 18 | |
| Total Liabilities | 53 | 66 | 97 |
| 7 | 37 | 40 | |
| CWIP | 18 | 5 | 12 |
| Investments | 1 | 1 | 1 |
| 27 | 23 | 45 | |
| Total Assets | 53 | 66 | 97 |
Cash Flows
Figures in Rs. Crores
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| 3 | 16 | 6 | |
| -19 | -16 | -22 | |
| 17 | -1 | 16 | |
| Net Cash Flow | 1 | -1 | 0 |
| Free Cash Flow | -16 | -2 | -5 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 55% | 145% | 63% |
Ratios
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Debtor Days | 97 | 100 | 101 |
| Inventory Days | 11 | 37 | 64 |
| Days Payable | 124 | 167 | 136 |
| Cash Conversion Cycle | -17 | -29 | 30 |
| Working Capital Days | 6 | -41 | 30 |
| ROCE % | 26% | 23% |
Documents
Announcements
-
Integrated Filing- Governance
- Company states Regulation 27(2) corporate governance report not applicable for quarter and half year ended 30 September 2026.
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Submitted Regulation 74(5) compliance certificate for quarter ended 30 September 2026.
-
Trading Window
- Trading window closed from 1 Oct 2026 until 48 hours after half-year results for 30 Sep 2026.
-
General Updates
- MCA updated Shanti Inorganics' CIN and listed status after NSE listing effective 7 September 2026.
-
Credit Rating
- CRISIL upgrades Shanti Inorganics to BBB/Stable and A3+ on ₹66.05 crore bank facilities.
Business Overview:[1]
Shanti Inorganics is a Gujarat-based
manufacturer of sulphur-based inorganic chemicals, with its products primarily used
as preservatives, reducing agents, oxygen scavengers, dechlorinating agents and
process intermediates.