Asahi Songwon Colors Ltd
NSE: ASAHISONG BSE: 532853Textile
Incorporated in 1990, Asahi Songwon Colors is one of the leading manufacturers of blue (Phthalocyanine) pigments for ink, plastics, paint, textile and paper industry with globally benchmarked manufacturing capabilities. The company has ventured into manufacturing of yellow, red and orange (AZO) pigments and APIs.[1]
₹228
52W: ₹179 — ₹463
PE 12.3 · Book ₹249 · -8% vs bookMarket Cap₹269 Cr
Stock P/E12.3Price to Earnings
ROCE12.3%Return on Capital
ROE9.4%Return on Equity
Div. Yield0.68%Face Value ₹10
Strengths
- +Company has reduced debt.
- +Stock is trading at 0.92 times its book value
Weaknesses
- −The company has delivered a poor sales growth of 6.59% over past five years.
- −Company has a low return on equity of 3.32% over last 3 years.
Shareholding Pattern
Promoters67%
FIIs0.05%
DIIs0.31%
Public32.64%
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 66.77% | 66.83%▲0.1 | 66.83% | 66.83% | 66.83% | 67%▲0.2 | 67% | 67% |
| FIIs | 0.07% | 0.07% | 0%▼0.1 | 0% | 0% | 0.08%▲0.1 | 0%▼0.1 | 0.05%▲0.1 |
| DIIs | 0% | 0.21%▲0.2 | 0%▼0.2 | 0% | 0% | 0.03%▲0.0 | 0.3%▲0.3 | 0.31%▲0.0 |
| Public | 33.16% | 32.89%▼0.3 | 33.17%▲0.3 | 33.17% | 33.16%▼0.0 | 32.9%▼0.3 | 32.71%▼0.2 | 32.64%▼0.1 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 57.91 | 66.97 | 83.85 | 89.83 | 99.46 | 93.69 | 107.24 | 106.13 | 72.96 | 74.31 |
| Expenses | 53.06 | 62.93 | 75.77 | 79.5 | 88.7 | 84.68 | 92.88 | 96.82 | 66.96 | 67.3 |
| Operating Profit | 4.85 | 4.04 | 8.08 | 10.33 | 10.76 | 9.01 | 14.36 | 9.31 | 6 | 7.01 |
| OPM % | 8.38% | 6.03% | 9.64% | 11.5% | 10.82% | 9.62% | 13.39% | 8.77% | 8.22% | 9.43% |
| Net Profit | 24.71 | 0.37 | 3.95 | 5.65 | 6.06 | 4.55 | 9.23 | 5.53 | 3.62 | 3.53 |
| EPS ₹ | 20.96 | 0.31 | 3.35 | 4.79 | 5.14 | 3.86 | 7.83 | 4.69 | 3.07 | 2.99 |
AI Insights
Revenue Trend
TTM revenue at ₹361Cr, down 7.4% YoY. OPM at 10%.
Debt Position
Borrowings at ₹47Cr. Debt-to-equity ratio: 0.17x. Healthy balance sheet.
Institutional Flow
DIIs: 0.31% (+0.31pp change). FIIs: 0.05% (+0.05pp change). Promoters hold 67%.
Margin & Efficiency
ROCE declining from 16% (Mar 2014) to 12% (Mar 2025). Working capital days: 36.
Valuation
PE 12.3x with 12.3% ROCE. Price is -8% above book value of ₹249. Dividend yield: 0.68%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO) 9 Apr - Mr. Pratik Shah resigns as CFO effective April 9, 2026, for personal reasons.
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 9 Apr - Company says SEBI large corporate norms not applicable; outstanding borrowing was Rs 64.70 crore on 31 March 2026.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 8 Apr - Asahi Songwon Colors Limited has informed Exchange about the Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018
- Announcement under Regulation 30 (LODR)-Change in Management 8 Apr - Sudhin Bhagwandas Choksey resigned as independent director effective April 4, 2026.
- Announcement under Regulation 30 (LODR)-Credit Rating 8 Apr - CARE reaffirmed Asahi Songwon’s bank facility ratings; outlook remains Positive.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse