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10 Yrs X-Ray 
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Analyst Note 
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About
Resonance Specialties Ltd (524218)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524218 NSE: Chemicals | Small Cap | Resonance Specialtie Share Price
₹166.70 -4.30 (-2.51%)
As on 22-Sep'26 16:59
Resonance Specialties Ltd (524218)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524218 NSE: Chemicals | Small Cap | Resonance Specialtie Share Price
₹166.70 -4.30 (-2.51%)
As on 22-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹192 Cr.
Current Price
₹166.7
52-Week Low / High
₹77 / 189
TTM EPS
-
TTM Sales
-
Book Value per Share
-
P/E Ratio
Industry PE
48.3
Price to Book (P/B)
Price to Sales (P/S)
EV/EBITDA
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
%
Return on Capital Employed (ROCE)
%
Return on Assets (ROA)
%
Operating Profit Margin
0%
Net Profit Margin
-%
Gross Profit Margin
0%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
15.99%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
54.25%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
-
Equity
₹11.5 Cr.
Face Value
₹10
All Time Low / High
₹1.05 / 254.95
Check Before You Invest
Quality
Not GoodValuation
FairCheck Valuation charts
Price Trend
Weak
Is Resonance Specialties Ltd a good quality company?
Resonance Specialties Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Resonance Specialties Ltd performance compare with that of its Peers?
Revenue growth of Resonance Specialties Ltd vs industry peers?
Resonance Specialties Ltd revenue CAGR is %, compared to the industry median CAGR of 0%, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of Resonance Specialties Ltd?
Promoters hold 54.25% of the Resonance Specialties Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Resonance Specialties Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 18.7% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Resonance Specialties Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 8.6% | 3.1% | 25.3% | 31.5% | 48.3% | 39.8% | 14.1% | 7.8% | 15.3% | 21.3% | - |
| Value Creation Index ⓘ | -0.4 | -0.8 | 0.8 | 1.3 | 2.5 | 1.8 | 0.0 | -0.4 | 0.1 | 0.5 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 34.2 | 36 | 40.3 | 56.1 | 70.3 | 75.8 | 58.8 | 55.3 | 77.8 | 90.3 | 102 |
| Sales YoY Gr. | - | 5.2% | 12% | 39.4% | 25.2% | 7.8% | -22.4% | -6% | 40.7% | 16% | - |
| Adj EPS ⓘ | 0.8 | -0.7 | 2.6 | 5.4 | 8.7 | 10.4 | 3.9 | 2.3 | 6.1 | 8.3 | 12.6 |
| YoY Gr. | - | -197.4% | NA | 106.9% | 61.9% | 19.9% | -62.6% | -40.3% | 159.7% | 37.7% | - |
| BVPS (₹) ⓘ | 15.9 | 15.3 | 18.1 | 21.6 | 30.4 | 40 | 43.4 | 46.6 | 52.3 | 60.3 | 65.2 |
| Adj Net Profit ⓘ | 0.9 | -0.9 | 3 | 6.2 | 10.1 | 12.1 | 4.5 | 2.7 | 7 | 9.6 | 15 |
| Cash Flow from Ops. ⓘ | 0.6 | 2.1 | 5.3 | 1.4 | 4.3 | 13.3 | -8.4 | 4.2 | -2.5 | 17.3 | - |
| Debt/CF from Ops. ⓘ | 7.3 | 1.6 | 0 | 0.3 | 0.3 | 0 | -0.3 | 1 | -1.2 | 0.1 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 11.4% | 5.1% | 15.3% | 16% | ||||
| Adj EPS ⓘ | 30.5% | -0.9% | 28.8% | 37.7% | ||||
| BVPSⓘ | 16% | 14.7% | 11.6% | 15.3% | ||||
| Share Price | 18.6% | -5.4% | 23.5% | 63.1% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 3.8 | -3.6 | 12.1 | 21.8 | 28.2 | 26.1 | 8.4 | 4.8 | 11.5 | 14 | 20 |
| Op. Profit Mgn % ⓘ | 5.9 | 1.8 | 12 | 13.8 | 20.3 | 22.1 | 11.6 | 8.7 | 13.9 | 15.7 | 18.6 |
| Net Profit Mgn % ⓘ | 2.6 | -2.4 | 7.5 | 11.1 | 14.3 | 15.9 | 7.7 | 4.9 | 9 | 10.7 | 14.3 |
| Debt to Equity ⓘ | 0.2 | 0.2 | 0 | 0 | 0 | 0 | 0 | 0.1 | 0.1 | 0 | - |
| Working Cap Days ⓘ | 204 | 212 | 171 | 126 | 128 | 141 | 208 | 286 | 231 | 221 | 121 |
| Cash Conv. Cycle ⓘ | 104 | 86 | 63 | 57 | 59 | 69 | 134 | 184 | 164 | 153 | 94 |
Valuation of Resonance Specialtie - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
No data found!
No data found!
No data found!
No data found!
Top 5 Mutual Funds Holding
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Announcements
Resonance Specialties Ltd FAQs
The current trading price of Resonance Specialtie on 22-Sep-2026 16:59 is ₹166.7.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Sep-2026 the market cap of Resonance Specialtie stood at ₹192.4 Cr
The latest P/E ratio of Resonance Specialtie as of 21-Sep-2026 is 13.27.
The latest P/B ratio of Resonance Specialtie as of 21-Sep-2026 is 2.56.
The 52-week high of Resonance Specialtie is ₹188.5 and the 52-week low is ₹77.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Resonance Specialtie is ₹102 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Resonance Specialties Ltd is a below average quality company.
The key valuation ratios of Resonance Specialties Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Resonance Specialties Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Resonance Specialties Ltd
Resonance Specialties incorporated in 1989 is a pioneer in Pyridine chemistry and one of the few manufacturers of the product in the world. The company, formerly known as Armour Polymers Limited, was the first in India to manufacture Pyridines. Resonance is also one of the largest manufacturers of Lutidines in the world.Despite the fact that these technologies are available only with a select few companies worldwide, Resonance was able to innovate and commercialise production with its own technology.
The company is promoted by Dr Atma. B. Gupta, a technocrat with a doctorate from the University of New York, and several years of post doctorate research in USA.
The company produces a range of value added products and continues to be the largest manufacturer and exporter of products like Alpha Picolinic acid and Dipicolinic acid. Resonance has exclusive supply arrangements with global industry leaders.
In 1994, just two years after the commissioning of the Pyridine and Picoline plants, the company repeated its pioneering feat. It became the first company in India to manufacture Cyanopyridines. This successful effort brought company recognition from the government of India for technological excellence. Resonance is also the first in India to manufacture various Collidines. True to its ethos, products manufactured by the company are comparable to the world’s best. The company employs green manufacturing to minimise its ecological impact and is able to deliver products that meet and surpass customer expectations and standards. Many of their innovative processes improve the yield; enhance the efficiency of manufacturing as well as the quality of the product.
Resonance products are exported to many countries worldwide through their supply agreements with many multinationals as well as through direct exports.In the company, quality is a way of life and it adhere to a stringent regimen to ensure the quality of their products.Every raw material is thoroughly tested and quality is monitored through the entire manufacturing process up to the final packaging.
Product range of the company includes:
- Pyridines
- Picolines
- Cyanopyridines
- Lutidines
- Collidines
- Active Pharmaceutical Ingredients (APIs)
- Drug Intermediates
These products cater to the requirements of various industries.
- Pyridine is a versatile chemical used in the manufacture of agrochemicals,pharmaceuticals & bulk drugs, dyes, rubber chemicals, etc
- Alpha Picoline is used in the Vinyl Latex Rubber.
- Beta Picoline is used in the manufacture of Vitamin B3.
- Gamma Picoline is used in the pharmaceutical industry for the manufacture of an anti-tuberculosis drug, Isoniazid
Resonance products are exported to many countries worldwide through its supply agreements with many multinationals as well as through direct exports.
Achievements/ recognition
The promoter of the company is the proud recipient of the Government of India award for technological excellence when he set up the first Cyanopyridines plant in India.
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