Vidhi Specialty Food Ingredients Ltd

₹ 295 -1.90%

27 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:^[1]
The company is the 3rd largest manufacturer of synthetic food-grade dyes globally and the 2nd largest in Asia.

Website BSE NSE

Market Cap ₹ 1,473 Cr.
Current Price ₹ 295
High / Low ₹ 482 / 259
Stock P/E 30.0
Book Value ₹ 65.9
Dividend Yield 1.70 %
ROCE 18.8 %
ROE 15.6 %
Face Value ₹ 1.00

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Pros

Cons

The company has delivered a poor sales growth of 7.36% 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

Commodities Chemicals Chemicals & Petrochemicals Specialty Chemicals

Part of BSE Commodities BSE 1000

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	89	80	80	63	78	83	91	99	110	88	75	94	123
	77	67	66	49	62	69	76	79	90	67	57	75	102
Operating Profit	12	13	14	14	16	14	15	19	20	21	18	19	21
OPM %	14%	16%	17%	23%	21%	17%	17%	19%	18%	23%	24%	20%	17%
	1	1	0	0	0	0	1	0	1	0	1	0	0
Interest	1	1	1	1	0	0	0	1	1	2	1	1	1
Depreciation	1	1	1	2	2	2	2	2	2	2	2	2	2
Profit before tax	11	12	12	12	14	12	14	17	18	17	15	16	18
Tax %	20%	27%	22%	27%	25%	29%	24%	25%	32%	26%	29%	22%	26%
	9	8	9	9	11	8	10	13	12	13	11	12	13
EPS in Rs	1.77	1.68	1.82	1.71	2.13	1.69	2.08	2.54	2.41	2.55	2.14	2.49	2.66
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	189	185	193	213	228	225	266	537	404	303	382	380
	162	156	164	181	182	174	214	452	348	246	314	302
Operating Profit	27	29	29	31	46	51	53	85	56	57	69	78
OPM %	14%	16%	15%	15%	20%	22%	20%	16%	14%	19%	18%	21%
	0	1	1	0	1	1	2	1	1	1	2	2
Interest	6	6	4	5	3	3	2	4	4	3	2	5
Depreciation	2	2	2	2	2	3	3	3	3	6	7	9
Profit before tax	19	23	24	24	41	45	50	79	50	49	60	66
Tax %	36%	35%	38%	36%	29%	25%	26%	26%	24%	25%	28%	26%
	12	15	15	16	29	34	37	59	38	37	44	49
EPS in Rs	2.49	2.95	2.93	3.13	5.82	6.82	7.35	11.76	7.58	7.33	8.72	9.84
Dividend Payout %	20%	27%	27%	26%	14%	15%	11%	3%	11%	27%	40%	0%

Compounded Sales Growth
10 Years:	7%
5 Years:	7%
3 Years:	-2%
TTM:	-1%

Compounded Profit Growth
10 Years:	13%
5 Years:	6%
3 Years:	9%
TTM:	13%

Stock Price CAGR
10 Years:	19%
5 Years:	8%
3 Years:	-6%
1 Year:	-35%

Return on Equity
10 Years:	20%
5 Years:	17%
3 Years:	15%
Last Year:	16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	5	5	5	5	5	5	5	5	5	5	5	5
Reserves	40	50	61	72	96	124	157	212	246	276	297	324
	47	49	62	44	44	34	31	90	52	20	66	58
	39	18	36	35	25	23	33	44	29	24	29	33
Total Liabilities	131	123	164	155	170	186	226	352	332	325	397	420
	17	31	30	29	31	31	29	38	47	125	126	133
CWIP	9	0	0	0	0	2	5	33	65	0	0	0
Investments	0	0	0	0	0	13	13	13	13	13	13	13
	105	92	134	126	139	140	179	268	207	187	258	274
Total Assets	131	123	164	155	170	186	226	352	332	325	397	420

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	17	17	-9	33	22	28	11	-22	96	63	-5	42
	-10	-7	-1	-1	-4	-17	-3	-40	-42	-19	-7	-16
	-4	-7	5	-29	-8	-19	-8	53	-47	-40	19	-35
Net Cash Flow	3	3	-5	3	10	-8	0	-9	6	4	8	-8
Free Cash Flow	7	10	-10	31	18	23	8	-62	53	44	-12	26
CFO/OP	83%	97%	-3%	130%	73%	78%	45%	-0%	193%	130%	13%	75%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	91	77	116	101	99	124	130	102	91	106	123	137
Inventory Days	103	81	111	93	97	100	92	71	75	108	115	136
Days Payable	77	38	75	74	50	52	63	36	28	30	29	35
Cash Conversion Cycle	117	120	152	120	146	172	159	137	138	184	209	239
Working Capital Days	28	39	69	80	91	124	149	103	115	164	132	161
ROCE %	30%	29%	24%	24%	33%	31%	29%	33%	18%	17%	19%	19%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Sep 2025

Installed Production Capacity (Annualized)
MTPA

xx.xx		x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx
x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx		x,xxx.xx	x,xxx.xx
	xx	xx	xx	xx	xx	xx	xx		xx	xx
		xx.xx		xx.xx		xx.xx	xx.xx			xx.xx
						xxx			xxx	xxx
									xxx	xxx
										xx
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									x,xxx

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Production Volume
MT

Number of Countries Presence
Number

Export Contribution to Total Revenue
%

Installed Production Capacity
MT/Month

Number of Dealers/Distributors
Number

Capacity Utilization - Dahej Plant
%

High Margin Value Added Product Mix
%

Sales Volume (Manufactured Goods)
MT

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

6 Recently

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%
	0.08%	0.07%	0.07%	0.08%	0.14%	0.11%	0.10%	0.11%	0.12%	0.12%	0.10%	0.12%
	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	35.64%	35.66%	35.65%	35.64%	35.60%	35.62%	35.63%	35.62%	35.60%	35.61%	35.62%	35.61%
No. of Shareholders	19,929	18,432	17,814	18,808	17,114	16,894	16,646	16,309	15,769	15,526	15,154	14,693

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	64.27%	64.27%	64.27%	64.27%	64.27%	64.27%	64.28%	64.28%	64.28%	64.28%
	0.10%	0.55%	0.10%	0.15%	0.26%	0.37%	0.09%	0.08%	0.11%	0.12%
	0.06%	0.30%	0.07%	0.19%	0.00%	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%	35.61%
No. of Shareholders	10,289	12,561	11,412	10,974	14,169	20,626	20,508	18,808	16,309	14,693

* 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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