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Ishan Dyes and Chemicals Ltd (ISHANCH)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531109 NSE: ISHANCH Dyes & Pigments | Small Cap | Ishan Dyes and Chem. Share Price

₹61.50 0.07 (0.11%)

As on 09-Jun'26 16:59

Ishan Dyes and Chemicals Ltd (ISHANCH)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531109 NSE: ISHANCH Dyes & Pigments | Small Cap | Ishan Dyes and Chem. Share Price

₹61.50 0.07 (0.11%)

As on 09-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹168 Cr.
Current Price
₹61.5
52-Week Low / High
₹39 / 84
TTM EPS
₹-2.6
TTM Sales
₹73.5 Cr.
Book Value per Share
₹51.6
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
2.8
Price to Book (P/B)
1.19
In line with its 5-year historical median
Price to Sales (P/S)
2.28
Higher than its 5-year historical median
EV/EBITDA
37.31
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
1.06%
Underperforms industry median
Return on Capital Employed (ROCE)
4.08%
Underperforms industry median
Return on Assets (ROA)
0.54%
Operating Profit Margin
6.6%
Net Profit Margin
1.07%
Gross Profit Margin
4.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
32.35%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
107.41%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
808.33%
Asset Quality
Promoter Holding
40.15%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹114 Cr.
Equity
₹27.3 Cr.
Face Value
₹10
All Time Low / High
₹3.08 / 177.00

Ishan Dyes and Chemicals stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Ishan Dyes and Chemicals Ltd a good quality company?
Ishan Dyes and Chemicals Ltd is a average quality company, based on a somewhat consistent 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 Ishan Dyes and Chemicals Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Ishan Dyes and Chemicals Ltd vs industry peers?
Ishan Dyes and Chemicals Ltd revenue CAGR is 4.92%, compared to the industry median CAGR of 5.57%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Ishan Dyes and Chemicals Ltd?
Promoters hold 40.15% of the Ishan Dyes and Chemicals Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Ishan Dyes and Chemicals Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 9.2% based on the current price.

10 Year X-Ray : Login to view analysis.

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 end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

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.
Ishan Dyes and Chemicals Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 24.7%34.8%19.3%18.8%22.3%27.8%17.6%0.4%2.3%4.1%-
Value Creation
Index
0.81.50.40.30.61.00.3-1.0-0.8-0.7-

Growth Parameters

Sales 61.566.772.266.879.881.887.464.776.710173
Sales YoY Gr.-8.6%8.1%-7.4%19.5%2.4%6.9%-26%18.5%32.4%-
Adj EPS 34.62.33.44.77.65.5-0.8-0.10.2-2.6
YoY Gr.-52%-51.3%48.9%40.9%60%-27.8%-114.7%NANA-
BVPS (₹) 16.42122.926.533.240.146.248.448.54951.6
Adj Net
Profit
3.75.62.74.17.512.19.3-1.7-0.30.4-7
Cash Flow from Ops. -1.147.252.7-2.3-8.520.2-9.311.6-
Debt/CF from Ops. -7.91.81.32.40.9-4.2-2.21.1-6.47.9-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 5.7%4.9%5.1%32.4%
Adj EPS -26.1%-46.9%-66.8%NA
BVPS12.9%8.1%2%1.1%
Share Price 10.6% -0.1% 1.6% 55.9%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
1923.59.813.117.220.212.3-1.8-0.30.4-5.2
Op. Profit
Mgn %
10.316.68.311.513.221.717.31.84.26.65.1
Net Profit
Mgn %
68.43.86.19.514.810.6-2.6-0.40.4-9.7
Debt to
Equity
0.40.30.30.40.10.20.20.20.60.90.2
Working Cap
Days
119145149157152221295415363312281
Cash Conv.
Cycle
276679767910316424316611225

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales616772678082876577101
Operating Expenses + 55566659696472647395
Manufacturing Costs12121212131414131519
Material Costs36354538453845404963
Employee Cost 5555666668
Other Costs 3444567535
Operating Profit 61168111815137
Operating Profit Margin (%) 10.3%16.6%8.3%11.5%13.2%21.7%17.3%1.8%4.2%6.6%
Other Income + 1121223233
Exceptional Items -00000000-00
Interest 1111112235
Depreciation 1211222332
Profit Before Tax 51067101714-102
Tax 1432244-001
Profit After Tax 463481310-101
PAT Margin (%) 6.3%8.4%4.7%6.5%10.3%15.7%11.6%-1.9%0.2%1.1%
Adjusted EPS (₹)3.24.62.83.65.18.06.0-0.60.10.5
Dividend Payout Ratio (%)9.70%10.10%25.10%0%19.50%15.60%0%0%0%0%

Valuation of Ishan Dyes and Chem. - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 21272933546580103103104
Share Capital 8111111161617212121
Reserves 14151822384963828283
Debt +768112917215484
Long Term Debt313311212438
Short Term Debt55581815213047
Minority Interest0000000000
Trade Payables4587611631320
Others Liabilities 364569154914
Total Liabilities 364449566894117131179222

Fixed Assets

Net Fixed Assets +13122026293137626462
Gross Block23243138434655828787
Accumulated Depreciation10121112141618202325
CWIP 001011013071
Investments 0000000000
Inventories4126991423232636
Trade Receivables8111612192735132512
Cash Equivalents 0100100000
Others Assets 1186892122313541
Total Assets 364449566894117131179222

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -14753-2-920-912
PBT 51067101714-102
Adjustment 2212223336
Changes in Working Capital -8-72-2-7-17-2119-134
Tax Paid -0-1-2-1-2-4-4-0-0-1
Cash Flow From Investing Activity + -2-2-8-7-5-3-8-41-25-39
Capex -2-2-8-7-5-4-8-29-33-42
Net Investments -0000000000
Others 000011-0-1283
Cash Flow From Financing Activity + 3-2023516203428
Net Proceeds from Shares 00000061800
Net Proceeds from Borrowing -1-220-301-12413
Interest Paid -1-1-1-1-1-1-2-2-3-5
Dividend Paid 00-100-2-2000
Others 5002671351319
Net Cash Flow 00-0-01-1-00-0-0

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)21.3124.6212.5814.3919.2721.8914.2-1.340.121.06
ROCE (%)24.6734.8219.2518.7722.3427.817.550.362.274.08
Asset Turnover Ratio1.931.671.551.281.291.010.830.520.490.51
PAT to CFO Conversion(x)-0.250.672.331.250.38-0.15-0.9N/AN/A12
Working Capital Days
Receivable Days44.3050.3068.3078.1071101.50128.20134.1089.2066
Inventory Days30.8044.5045.4042.2041.8050.2076.90130.90116.60110.40
Payable Days74.6045.8050.3068.6052.3080.6066.7040.6060.4096

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Ishan Dyes and Chemicals Ltd FAQs

The current trading price of Ishan Dyes and Chem. on 09-Jun-2026 16:59 is ₹61.50.

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 08-Jun-2026 the market cap of Ishan Dyes and Chem. stood at ₹167.7 Cr

The latest P/E ratio of Ishan Dyes and Chem. as of 08-Jun-2026 is 0.00.

The latest P/B ratio of Ishan Dyes and Chem. as of 08-Jun-2026 is 1.19.

The 52-week high of Ishan Dyes and Chem. is ₹83.50 and the 52-week low is ₹39.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ishan Dyes and Chem. is ₹73.47 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Ishan Dyes and Chemicals Ltd is a average quality company.

The key valuation ratios of Ishan Dyes and Chemicals 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 Semi Strong which suggest that the price of Ishan Dyes and Chemicals Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Ishan Dyes and Chemicals Ltd

Ishan Dyes and Chemicals was started in the year 1993 and is into the highly competitive chemicals and pigments industry. In a short span since it actually started its production in the November 1995, Ishan has embedded an impeccable impression in the global pigment and chemicals market with its superior quality products.

It has clinched a vast base of customers to whom it export a wide range of phthalocyanine blue pigments for plastics, water base and offset inks, paint(alkyd) on a regular basis. It marches ahead with a highly progressive and professional approach aimed at result orientation and based on business ethics and management techniques.

Its solvent dye is soluble in organic solvent. It manufactures a range of solvent dyes, which does not ionize. This quality of solvent pigments makes them soluble in non-polar materials such as triglycerides. Its solvent pigments are commonly called as lysochrome Pigments.

The company’s infrastructural set up forms the backbone of the company. It possesses a capacious warehouse, which has the capability to store large quantities of products. It is well equipped to import highest quality products from the noted companies based abroad. It has a wide network and association with various C&F agents to supply its clients with high quality and properly preserved chemicals.  

Products

  • C P C Blue Crude
  • Pigment Alpha Blue 15:0
  • Pigment Alpha Blue 15:1
  • Pigment Beta Blue 15:3

Certification/ recognition

  • ISO 9001-2000 certification
  • ISO 14001-2000 certification

Clientele

  • Clariant 
  • Heubach 
  • Lanxess 
  • Pyosa 
  • Ciba
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