Sudarshan Chemical Industries Ltd

Sudarshan Chemical Industries Ltd

₹ 1,461 0.15%
08 Aug - close price
About

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)

Key Points

Market Position[1]
The company is the 3rd largest pigment manufacturer globally. In FY24, it held a 35% market share.

  • Market Cap 11,477 Cr.
  • Current Price 1,461
  • High / Low 1,484 / 796
  • Stock P/E 74.4
  • Book Value 287
  • Dividend Yield 0.31 %
  • ROCE 11.5 %
  • ROE 9.16 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 22.6%

Cons

  • Stock is trading at 5.08 times its book value
  • Promoter holding has decreased over last quarter: -7.49%
  • The company has delivered a poor sales growth of 10.8% over past five years.
  • Promoter holding is low: 16.4%
  • Company has a low return on equity of 7.98% over last 3 years.
  • Working capital days have increased from 44.2 days to 74.3 days

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
508 516 454 465 542 525 489 510 618 580 676 575 704
441 479 417 426 473 460 433 445 528 488 558 503 634
Operating Profit 66 37 36 39 69 65 56 65 89 92 118 72 70
OPM % 13% 7% 8% 8% 13% 12% 11% 13% 14% 16% 17% 12% 10%
5 1 1 1 1 319 6 4 -0 4 5 -4 8
Interest 5 6 9 10 13 8 8 7 6 5 6 9 8
Depreciation 24 25 26 30 30 34 34 34 34 35 35 35 35
Profit before tax 42 7 3 0 28 342 20 28 49 55 82 23 34
Tax % 30% 26% 29% -2,150% 18% 22% 29% 32% 24% 26% 25% 30% 34%
30 5 2 1 23 265 14 19 37 41 61 16 22
EPS in Rs 4.27 0.77 0.30 0.20 3.28 38.32 2.04 2.72 5.33 5.93 8.85 2.35 2.85
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
1,015 1,076 1,199 1,126 1,306 1,433 1,518 1,708 1,919 1,976 2,141 2,534
889 966 1,043 955 1,107 1,229 1,280 1,441 1,684 1,793 1,865 2,183
Operating Profit 126 110 157 171 199 203 238 267 235 183 276 351
OPM % 12% 10% 13% 15% 15% 14% 16% 16% 12% 9% 13% 14%
3 25 13 21 12 91 25 17 8 4 329 12
Interest 39 36 27 24 25 15 13 18 19 38 30 28
Depreciation 35 40 44 49 58 65 72 85 87 111 137 141
Profit before tax 55 60 98 119 128 215 177 181 137 38 439 194
Tax % 37% 29% 27% 25% 31% 29% 16% 25% 27% 17% 24% 27%
34 42 72 89 88 152 149 136 100 31 335 141
EPS in Rs 4.99 6.13 10.35 12.90 12.72 21.89 21.48 19.68 14.50 4.54 48.41 17.94
Dividend Payout % 30% 29% 29% 27% 28% 27% 29% 30% 34% 33% 10% 25%
Compounded Sales Growth
10 Years: 9%
5 Years: 11%
3 Years: 10%
TTM: 18%
Compounded Profit Growth
10 Years: 14%
5 Years: 3%
3 Years: 15%
TTM: 70%
Stock Price CAGR
10 Years: 30%
5 Years: 27%
3 Years: 48%
1 Year: 50%
Return on Equity
10 Years: 14%
5 Years: 10%
3 Years: 8%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 7 14 14 14 14 14 14 14 14 14 14 16
Reserves 296 266 313 380 439 585 619 757 818 794 1,093 2,243
394 349 347 361 365 311 445 563 761 754 378 435
206 272 284 321 349 354 483 589 626 585 610 677
Total Liabilities 904 901 958 1,076 1,166 1,263 1,561 1,923 2,220 2,148 2,094 3,371
316 309 328 418 465 464 614 598 812 1,098 1,069 1,019
CWIP 6 7 15 8 6 24 48 278 282 44 15 45
Investments 29 49 48 55 60 42 44 55 55 56 51 1,048
553 535 566 595 636 733 855 992 1,071 950 960 1,259
Total Assets 904 901 958 1,076 1,166 1,263 1,561 1,923 2,220 2,148 2,094 3,371

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
83 150 152 144 155 85 236 155 165 284 189 66
-28 -67 -78 -128 -88 -25 -224 -261 -294 -182 289 -1,113
-63 -76 -72 -25 -70 -63 -11 113 134 -110 -449 1,030
Net Cash Flow -8 7 1 -9 -3 -3 0 8 5 -9 30 -17

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 95 90 88 93 84 89 88 105 88 78 89 98
Inventory Days 127 95 88 107 93 105 140 117 154 112 93 90
Days Payable 65 85 89 125 107 100 146 151 154 128 130 127
Cash Conversion Cycle 158 100 87 75 70 93 82 70 89 62 52 61
Working Capital Days 50 27 42 14 36 55 28 31 16 20 38 74
ROCE % 14% 14% 19% 20% 20% 17% 17% 16% 11% 5% 10% 12%

Shareholding Pattern

Numbers in percentages

2 Recently
Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025
35.82% 35.82% 35.82% 35.82% 35.82% 35.82% 33.22% 30.55% 30.55% 27.55% 23.90% 16.41%
4.16% 2.81% 3.12% 3.49% 4.65% 4.22% 4.50% 6.71% 8.35% 8.71% 7.96% 8.52%
14.18% 14.33% 14.18% 14.29% 13.67% 13.58% 17.47% 20.92% 19.82% 18.64% 23.57% 23.51%
45.84% 47.05% 46.87% 46.41% 45.86% 46.37% 44.81% 41.82% 41.29% 45.09% 44.57% 51.57%
No. of Shareholders 75,76975,94672,94667,78968,05268,30168,60761,32769,76970,16063,73464,728

* 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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