Vidhi Specialty Food Ingredients Ltd

₹ 450 -0.16%

23 May - close price

vidhifoodcolors.com BSE: 531717 NSE: VIDHIING

About

Vidhi Specialty Food Ingredients Limited, incorporated in 1994, is a leading manufacturer of Superior Synthetic and Natural Food Grade Colours. The company is Asia’s 2nd largest food colour manufacture. The company’s products have applications in industries of Food & Beverage, Confectionary, Pharmaceuticals, Pet Foods, Cosmetics, Inkjet Inks, Personal Care, and Home Care. ^[1]^[2]

Key Points

Market Position
The company is the 3rd largest manufacturer of synthetic food-grade dyes globally and the 2nd largest in Asia. ^[1]

Website BSE NSE

Market Cap ₹ 2,248 Cr.
Current Price ₹ 450
High / Low ₹ 572 / 382
Stock P/E 51.6
Book Value ₹ 60.5
Dividend Yield 0.78 %
ROCE 18.7 %
ROE 14.9 %
Face Value ₹ 1.00

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Pros

Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 27.9%

Cons

Stock is trading at 7.44 times its book value
The company has delivered a poor sales growth of 11.2% over past five years.

* 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

Sector: Chemicals Industry: Dyes And Pigments

Part of BSE SmallCap BSE Allcap BSE Commodities

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Detailed Comparison with:

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
	145	121	107	86	89	80	80	63	78	83	91	99	110
	126	105	93	74	77	67	66	49	62	69	76	79	90
Operating Profit	19	16	15	13	12	13	14	14	16	14	15	19	20
OPM %	13%	13%	14%	15%	14%	16%	17%	23%	21%	17%	17%	19%	18%
	1	0	0	0	1	1	0	0	0	0	1	0	1
Interest	1	1	1	1	1	1	1	1	0	0	0	1	1
Depreciation	1	1	1	1	1	1	1	2	2	2	2	2	2
Profit before tax	18	15	13	11	11	12	12	12	14	12	14	17	18
Tax %	24%	26%	21%	30%	20%	27%	22%	27%	25%	29%	24%	25%	32%
	14	11	10	8	9	8	9	9	11	8	10	13	12
EPS in Rs	2.77	2.20	2.06	1.54	1.77	1.68	1.82	1.71	2.13	1.69	2.08	2.54	2.41
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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
	143	189	185	193	213	228	225	266	537	404	303	382
	127	162	156	164	181	182	174	214	452	348	246	314
Operating Profit	16	27	29	29	31	46	51	53	85	56	57	68
OPM %	11%	14%	16%	15%	15%	20%	22%	20%	16%	14%	19%	18%
	0	0	1	1	0	1	1	2	1	1	1	2
Interest	5	6	6	4	5	3	3	2	4	4	3	2
Depreciation	2	2	2	2	2	2	3	3	3	3	6	7
Profit before tax	9	19	23	24	24	41	45	50	79	50	49	60
Tax %	34%	36%	35%	38%	36%	29%	25%	26%	26%	24%	25%	28%
	6	12	15	15	16	29	34	37	59	38	37	44
EPS in Rs	1.20	2.49	2.95	2.93	3.13	5.82	6.82	7.35	11.76	7.58	7.33	8.72
Dividend Payout %	34%	20%	27%	27%	26%	14%	15%	11%	3%	11%	27%	46%

Compounded Sales Growth
10 Years:	7%
5 Years:	11%
3 Years:	-11%
TTM:	26%

Compounded Profit Growth
10 Years:	13%
5 Years:	5%
3 Years:	-9%
TTM:	19%

Stock Price CAGR
10 Years:	34%
5 Years:	51%
3 Years:	5%
1 Year:	-4%

Return on Equity
10 Years:	21%
5 Years:	19%
3 Years:	15%
Last Year:	15%

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	5	5	5	5	5	5	5	5	5	5	5	5
Reserves	31	40	50	61	72	96	124	157	212	246	276	297
	44	47	49	62	44	44	34	31	90	52	20	66
	21	39	18	36	35	25	23	33	44	29	24	29
Total Liabilities	100	131	123	164	155	170	186	226	352	332	325	397
	18	17	31	30	29	31	31	29	38	47	125	126
CWIP	0	9	0	0	0	0	2	5	33	65	0	0
Investments	0	0	0	0	0	0	13	13	13	13	13	13
	82	105	92	134	126	139	140	179	268	207	187	258
Total Assets	100	131	123	164	155	170	186	226	352	332	325	397

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
	7	17	17	-9	33	22	28	11	-22	96	63	-5
	-1	-10	-7	-1	-1	-4	-17	-3	-40	-42	-19	-7
	-7	-4	-7	5	-29	-8	-19	-8	53	-47	-40	19
Net Cash Flow	-0	3	3	-5	3	10	-8	0	-9	6	4	8

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	111	91	77	116	101	99	124	130	102	91	106	123
Inventory Days	92	103	81	111	93	97	102	92	67	75	108	115
Days Payable	59	77	38	75	74	50	53	63	34	28	30	29
Cash Conversion Cycle	144	117	120	152	120	146	173	159	135	138	184	209
Working Capital Days	146	114	123	179	145	154	175	187	153	156	187	194
ROCE %	19%	30%	29%	24%	24%	33%	31%	29%	33%	18%	17%	19%

Shareholding Pattern

Numbers in percentages

4 Recently

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	64.27%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%
	0.34%	0.20%	0.08%	0.09%	0.08%	0.07%	0.07%	0.08%	0.14%	0.11%	0.10%	0.11%
	0.11%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	35.27%	35.51%	35.63%	35.63%	35.64%	35.66%	35.65%	35.64%	35.60%	35.62%	35.63%	35.62%
No. of Shareholders	21,128	21,972	21,341	20,508	19,929	18,432	17,814	18,808	17,114	16,894	16,646	16,309

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	64.27%	64.27%	64.27%	64.27%	64.27%	64.27%	64.28%	64.28%	64.28%
	0.10%	0.55%	0.10%	0.15%	0.26%	0.37%	0.09%	0.08%	0.11%
	0.06%	0.30%	0.07%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%
	35.57%	34.88%	35.55%	35.39%	35.47%	35.36%	35.63%	35.64%	35.62%
No. of Shareholders	10,289	12,561	11,412	10,974	14,169	20,626	20,508	18,808	16,309

* 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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