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Sudarshan Chemical Industries Ltd

NSE: SUDARSCHEM BSE: 506655Chemicals

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)

₹852
52W: ₹726 — ₹1604
PE 30.2 · Book ₹307 · +178% vs book
Market Cap₹6,699 Cr
Stock P/E30.2Price to Earnings
ROCE11%Return on Capital
ROE8.67%Return on Equity
Div. Yield0.52%Face Value ₹2

Strengths

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

Weaknesses

  • −Stock is trading at 2.77 times its book value
  • −The company has delivered a poor sales growth of 10.8% over past five years.
  • −Promoter holding is low: 8.19%
  • −Company has a low return on equity of 7.74% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -27.6%

Shareholding Pattern

Promoters8.2%
FIIs7.96%
DIIs24.89%
Public58.95%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters30.55%30.55%27.55%▼3.023.9%▼3.716.41%▼7.58.2%▼8.28.2%8.2%
FIIs6.71%8.35%▲1.68.71%▲0.47.96%▼0.88.52%▲0.68.54%▲0.08.21%▼0.37.96%▼0.3
DIIs20.92%19.82%▼1.118.64%▼1.223.57%▲4.923.51%▼0.124.17%▲0.724.6%▲0.424.89%▲0.3
Public41.82%41.29%▼0.545.09%▲3.844.57%▼0.551.57%▲7.059.08%▲7.559.01%▼0.158.95%▼0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales489510618580676575704531582550
Expenses433445528488558503634412485482
Operating Profit5665899211872701199769
OPM %11%13%14%16%17%12%10%22%17%12%
Net Profit14193741611622737422
EPS ₹2.042.725.335.938.852.352.859.339.432.86

AI Insights

Revenue Trend

TTM revenue at ₹2,368Cr, down 6.6% YoY. OPM at 15%.

Debt Position

Borrowings at ₹388Cr. Debt-to-equity ratio: 0.16x. Healthy balance sheet.

Capex Cycle

CWIP at ₹58Cr (6% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 24.89% (+10.60pp change). FIIs: 7.96% (+4.47pp change). Promoters hold 8.2%.

Margin & Efficiency

ROCE declining from 14% (Mar 2014) to 11% (Mar 2025). Working capital days: 37.

Valuation

PE 30.2x with 11% ROCE. Price is 178% above book value of ₹307. Dividend yield: 0.52%.

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