Sudarshan Chemical Industries Ltd

Sudarshan Chemical Industries Ltd

₹ 979 -2.42%
27 May - 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 7,708 Cr.
  • Current Price 979
  • High / Low 1,604 / 726
  • Stock P/E 454
  • Book Value 439
  • Dividend Yield 0.46 %
  • ROCE 5.51 %
  • ROE 0.49 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 82.8%
  • Debtor days have improved from 93.5 to 62.6 days.

Cons

  • Promoter holding is low: 8.19%
  • Company has a low return on equity of 2.96% over last 3 years.
  • Promoter holding has decreased over last 3 years: -27.6%

* 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

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
691 608 601 566 764 634 696 666 1,349 2,507 2,387 2,103 2,790
606 538 535 504 645 553 602 587 1,222 2,314 2,255 2,065 2,562
Operating Profit 85 70 66 62 119 81 94 79 127 192 132 38 227
OPM % 12% 11% 11% 11% 16% 13% 14% 12% 9% 8% 6% 2% 8%
2 319 6 4 3 4 -6 -26 -38 33 38 -24 32
Interest 15 10 10 9 8 7 9 11 21 44 44 36 41
Depreciation 31 35 35 35 36 36 37 37 57 99 97 101 50
Profit before tax 41 344 26 22 78 41 43 5 11 82 30 -123 168
Tax % 20% 22% 32% 34% 26% 28% 30% 89% 97% 33% 35% -6% 51%
33 267 18 15 58 29 30 1 0 55 19 -116 82
EPS in Rs 4.70 38.56 2.58 2.11 8.38 4.25 4.32 0.07 -0.52 6.01 1.49 -14.67 10.01
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,205 1,401 1,282 1,329 1,593 1,708 1,864 2,201 2,302 2,539 3,346 9,787
1,075 1,232 1,093 1,139 1,386 1,460 1,574 1,923 2,088 2,220 2,962 9,197
Operating Profit 131 170 189 191 207 248 290 278 213 318 383 590
OPM % 11% 12% 15% 14% 13% 15% 16% 13% 9% 13% 11% 6%
23 14 25 15 81 22 7 5 5 332 -67 79
Interest 41 37 30 25 19 16 20 23 44 39 51 165
Depreciation 42 48 49 58 66 74 87 89 114 141 166 347
Profit before tax 72 99 136 123 203 180 190 171 60 471 99 157
Tax % 24% 29% 25% 31% 33% 20% 26% 24% 25% 24% 39% 74%
54 70 101 85 135 145 141 130 45 357 60 41
EPS in Rs 7.86 10.10 14.64 12.24 19.52 20.88 20.38 18.77 6.47 51.63 7.10 2.84
Dividend Payout % 22% 30% 24% 29% 31% 30% 29% 27% 23% 9% 63% 176%
Compounded Sales Growth
10 Years: 21%
5 Years: 39%
3 Years: 62%
TTM: 193%
Compounded Profit Growth
10 Years: -13%
5 Years: -35%
3 Years: -28%
TTM: -76%
Stock Price CAGR
10 Years: 24%
5 Years: 8%
3 Years: 28%
1 Year: -11%
Return on Equity
10 Years: 8%
5 Years: 4%
3 Years: 3%
Last Year: 0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 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 3,424 3,434
433 430 433 431 367 501 618 823 829 467 2,378 2,473
317 346 379 433 424 522 638 705 725 730 3,854 3,800
Total Liabilities 1,012 1,090 1,193 1,304 1,358 1,624 2,000 2,361 2,383 2,346 9,672 9,723
333 358 452 475 465 627 615 832 1,126 1,102 2,958 3,012
CWIP 8 15 8 6 24 48 278 285 44 15 140 120
Investments 0 0 0 0 0 1 1 2 2 2 548 566
671 716 733 822 869 948 1,105 1,243 1,210 1,227 6,026 6,025
Total Assets 1,012 1,090 1,193 1,304 1,358 1,624 2,000 2,361 2,383 2,346 9,672 9,723

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
112 164 163 148 71 263 165 180 287 193 37 344
-61 -83 -135 -87 -27 -220 -266 -308 -189 279 -1,548 165
-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 1,085 -171
Free Cash Flow 56 79 29 61 -31 9 -103 -130 96 460 -56 76
CFO/OP 97% 109% 103% 92% 50% 131% 70% 78% 140% 87% 31% 93%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 96 92 98 92 79 78 95 83 77 84 134 63
Inventory Days 125 113 134 131 119 154 142 163 132 113 507 179
Days Payable 94 96 139 126 94 139 152 150 136 132 288 113
Cash Conversion Cycle 127 109 93 96 105 92 85 96 73 65 353 129
Working Capital Days 26 40 14 43 51 24 29 18 23 40 154 74
ROCE % 16% 19% 22% 18% 17% 18% 17% 13% 6% 11% 6% 6%

Insights

In beta
Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2025
Net Working Capital as % of Revenue
%

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Number of Manufacturing Sites
Count
Domestic Pigment Market Share
% ・Standalone data
Number of Countries with Customers
Count
Number of Brands
Count
Number of Pigment Products / SKUs
Count
Number of Direct Customers
Count
Pigment Sales Volume Growth
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

7 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
35.82% 35.82% 35.82% 33.22% 30.55% 30.55% 27.55% 23.90% 16.41% 8.20% 8.20% 8.20%
3.49% 4.65% 4.22% 4.50% 6.71% 8.35% 8.71% 7.96% 8.52% 8.54% 8.21% 7.96%
14.29% 13.67% 13.58% 17.47% 20.92% 19.82% 18.64% 23.57% 23.51% 24.17% 24.60% 24.89%
46.41% 45.86% 46.37% 44.81% 41.82% 41.29% 45.09% 44.57% 51.57% 59.08% 59.01% 58.95%
No. of Shareholders 67,78968,05268,30168,60761,32769,76970,16063,73464,72863,69158,12255,044

* 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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