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Sudarshan Chemical Industries Ltd (SUDARSCHEM)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506655 NSE: SUDARSCHEM Dyes & Pigments | Small Cap | Sudarshan Chemicals Share Price

₹1,116.50 65.65 (6.25%)

As on 14-Aug'26 16:59

Sudarshan Chemical Industries Ltd (SUDARSCHEM)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506655 NSE: SUDARSCHEM Dyes & Pigments | Small Cap | Sudarshan Chemicals Share Price

₹1,116.50 65.65 (6.25%)

As on 14-Aug'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹8,888 Cr.
Current Price
₹1,116.5
52-Week Low / High
₹727 / 1,604
TTM EPS
₹9.1
TTM Sales
₹9,922 Cr.
Book Value per Share
₹454
P/E Ratio
122.77
Higher than its 5-year historical median
Industry PE
3.1
Price to Book (P/B)
2.46
Lower than its 5-year historical median
Price to Sales (P/S)
0.90
Lower than its 5-year historical median
EV/EBITDA
13.63
Lower than its 5-year historical median
Dividend Yield
0.45%
Profitability Efficiency
Return on Equity (ROE)
1.20%
Underperforms industry median
Return on Capital Employed (ROCE)
5.99%
Underperforms industry median
Return on Assets (ROA)
0.42%
Operating Profit Margin
5.1%
Net Profit Margin
0.42%
Gross Profit Margin
5.2%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
192.54%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
29.34%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
-32.34%
Asset Quality
Promoter Holding
8.19%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹3,598 Cr.
Equity
₹15.9 Cr.
Face Value
₹2
All Time Low / High
₹3.55 / 1604.00

Sudarshan Chemical Industries stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Undervalued

Price Trend

Strong
Q.1 Is Sudarshan Chemical Industries Ltd a good quality company?
Sudarshan Chemical Industries 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 Sudarshan Chemical Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Sudarshan Chemical Industries Ltd vs industry peers?
Sudarshan Chemical Industries Ltd revenue CAGR is 39.33%, compared to the industry median CAGR of 5.57%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Sudarshan Chemical Industries Ltd?
Promoters hold 8.19% of the Sudarshan Chemical Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Sudarshan Chemical Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 14.1% based on the current price.

DeciZen - make an informed investing decision on Sudarshan Chemicals

Decision Maker
Consolidated basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

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 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.
Sudarshan Chemical Industries 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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 20%16.6%24.4%19.4%17.1%12.9%6.3%31.5%4.2%6%-
Value Creation
Index
0.40.20.70.40.2-0.1-0.61.3-0.7-0.6-

Growth Parameters

Sales 1,2821,3291,5931,7081,8642,2012,3022,5393,3469,7879,922
Sales YoY Gr.-3.7%19.8%7.2%9.1%18.1%4.6%10.3%31.8%192.5%-
Adj EPS 12.411.11219.319.618.88.22016.7-4.59.1
YoY Gr.--10.9%8%61.5%1.2%-3.6%-56.3%142.1%-16.3%-127%-
BVPS (₹) 55.163.68286.8107.2120119.2165.3428.7436.1454
Adj Net
Profit
8676.682.813413513057138131-35.572
Cash Flow from Ops. 1631487126316518028719371.3344-
Debt/CF from Ops. 2.72.95.21.93.74.62.92.329.26.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 25.3%39.3%62%192.5%
Adj EPS -189.4%-174.6%-181.8%-127%
BVPS25.9%32.4%54.1%1.7%
Share Price 13% 12.1% 30.4% -22.7%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
24.718.716.422.920.116.66.9145.8-12
Op. Profit
Mgn %
14.814.31314.61512.71012.9125.16.2
Net Profit
Mgn %
6.75.85.27.87.35.92.55.44.1-0.20.7
Debt to
Equity
1.110.70.80.8110.40.60.6-
Working Cap
Days
228231213239256247243217360184105
Cash Conv.
Cycle
81787876687570591768355

Valuation of Sudarshan Chemicals - Consolidated

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!

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 (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales1,2821,3291,5931,7081,8642,2012,3022,5393,3469,787
Operating Expenses + 1,0951,1421,3871,4601,5841,9232,0892,2222,9629,291
Manufacturing Costs1761831851892202983223404571,203
Material Costs7087579429761,0601,2701,3681,4151,7744,972
Employee Cost 92941241461561841842103561,666
Other Costs 1181091351491481712142563751,450
Operating Profit 187187206248280278213317383496
Operating Profit Margin (%) 14.6%14.1%13.0%14.5%15.0%12.6%9.3%12.5%11.5%5.1%
Other Income + 18117517551933183
Exceptional Items 007217000315-104-30
Interest 302519162023443951174
Depreciation 495866748789114141166347
Profit Before Tax 1261152011801901716047199157
Tax 3438683549411511339116
Profit After Tax 9277133145141130453576041
PAT Margin (%) 7.2%5.8%8.3%8.5%7.6%5.9%2.0%14.1%1.8%0.4%
Adjusted EPS (₹)14.612.219.520.920.418.86.551.67.12.8
Dividend Payout Ratio (%)23.90%28.60%30.70%30.20%29.40%26.60%23.20%8.90%63.20%176%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 3814405686017428318251,1443,3653,423
Share Capital 14141414141414141616
Reserves 3674265545877288178111,1313,3493,407
Debt +3413613034514876726422802,0111,995
Long Term Debt1421821132253083694491931,6321,648
Short Term Debt19917919022617930319286379347
Minority Interest00000000598404
Trade Payables2702642423714415225095121,3941,534
Others Liabilities 3703345044776546967597562,6732,197
Total Liabilities 1,3621,4001,6171,9012,3252,7202,7342,69210,0409,553

Fixed Assets

Net Fixed Assets +4524754656276158321,1261,1022,7742,987
Gross Block5035846378729451,2481,6501,7633,5824,299
Accumulated Depreciation521081722453304165246628091,312
CWIP 8624482782854415121144
Investments 00011222545566
Inventories2612733084114125664944382,5022,444
Trade Receivables3433333463644855014865851,2251,679
Cash Equivalents 1514816243529561,5111,075
Others Assets 2832984664355105005524951,363657
Total Assets 1,3621,4001,6171,9012,3252,7202,7342,69210,0409,553
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 1631487126316518028719371344
PBT 12611512816319017160155203186
Adjustment 769368111104104158168101430
Changes in Working Capital -15-72-10350-91-5880-46-150-69
Tax Paid -32-28-32-62-39-38-11-84-83-203
Cash Flow From Investing Activity + -135-87-27-220-266-308-189279-1,583165
Capex -134-87-102-254-268-309-191267-93-268
Net Investments 001-10008-1,13113
Others -1-075352114-359420
Cash Flow From Financing Activity + -38-62-48-39108138-103-4462,596-680
Net Proceeds from Shares 000000009952
Net Proceeds from Borrowing -87-63641745578-2671,446-316
Interest Paid -27-24-18-14-17-19-35-35-45-124
Dividend Paid -25-29-8-100-0-41-34-33-9-36
Others 22-164111-48143-112-111209-206
Net Cash Flow -10-2-3389-5271,085-171
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)26.4118.7426.3524.8321.0116.525.4136.32.671.2
ROCE (%)19.9916.6124.3819.3517.1312.876.2931.494.245.99
Asset Turnover Ratio1.060.981.060.970.880.870.840.940.531
PAT to CFO Conversion(x)1.771.920.531.811.171.386.380.541.188.39
Working Capital Days
Receivable Days92.1091.3077.8075.9083.1081.7078.207798.8054.20
Inventory Days687266.5076.7080.5081.1084.1067160.3092.20
Payable Days116.70128.9098.10114.70139.90138.30137.50131.60196.10107.50

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Sudarshan Chemical Industries Ltd FAQs

The current trading price of Sudarshan Chemicals on 14-Aug-2026 16:59 is ₹1,116.5.

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 13-Aug-2026 the market cap of Sudarshan Chemicals stood at ₹8,888.2 Cr

The latest P/E ratio of Sudarshan Chemicals as of 13-Aug-2026 is 32.34.

The latest P/B ratio of Sudarshan Chemicals as of 13-Aug-2026 is 3.34.

The 52-week high of Sudarshan Chemicals is ₹1,604 and the 52-week low is ₹726.6.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Sudarshan Chemicals is ₹2,543 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Sudarshan Chemical Industries Ltd is a average quality company.

The key valuation ratios of Sudarshan Chemical Industries Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Sudarshan Chemical Industries Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Sudarshan Chemical Industries Ltd

Sudarshan Chemical Industries, founded in 1951, Pune, has been a pioneer in India’s pigment industry. The company began with a vision to build indigenous manufacturing capabilities in color solutions, engineering its own equipment and formulating products that steadily earned global trust. Over the years, Sudarshan evolved from a domestic player into a multinational enterprise with a strong focus on innovation, customer centricity, and sustainability, establishing itself as the backbone of India’s pigment manufacturing excellence. The company’s growth trajectory was marked by continuous investments in technology, R&D, and capacity expansion, enabling service to customers in coatings, plastics, inks, and cosmetics across the world. Guided by values of Seva, ownership, bold ambition, and simplicity, the company built a reputation not just for its products, but for the relationships it nurtured with customers, partners, employees, and communities.

A defining milestone in Sudarshan’s journey came in 2025 with the acquisition of the Heubach Group, a global pigment leader with more than two centuries of heritage, which had earlier acquired Clariant’s pigment business in 2022. This landmark transaction combined the company’s strong presence in India and other growth markets with Heubach’s established footprint across Europe and the Americas, giving rise to ONE Sudarshan - now among the world’s top two pigment manufacturers. The integration has brought together complementary portfolios, advanced manufacturing systems, and deep technical expertise, positioning Sudarshan as a truly global pigment player. Beyond strategic expansion, ONE Sudarshan continues to strengthen functional excellence. 

Business area of the company

Sudarshan Chemical Industries is a global leader in color solutions and specialized pigments, serving customers in many countries. The company offers a broad portfolio of organic, inorganic, and pearlescent pigments used across coatings, plastics, inks, cosmetics, and other applications. 

Product Portfolio

  • Coatings
  • Plastics
  • Printing
  • Digital Inks
  • Special Applications
  • Corrosion Protection

Awards & Accolades

2017-18

  • India CSR Award CSR community Initiative Sustainable Village Waste Management, Environment
  • ECGC Indian Exporters Excellence Award 2017 under the category ‘Most Socially Responsible Exporter’.
  • Best Employer Brand Innovation in Recruitment
  • Award from the National Safety Council, Maharashtra Chapter
  • Dyestuff Manufacturers Association of India Award for Excellent Performance in the field of Pollution Control, Large Scale
  • Dyestuff Manufacturers Association of India Award for the Second for Excellent Performance in the field of Safety & Hazard control by a Large Scale Unit
  • Dyestuff Manufacturers Association of India Award for Energy Conservation Initiative

2018-19

  • Global CSR Award 2019 in Gold Category for an outstanding achievement in implementing CSR programme for strengthening core business with Social commitment
  • Global Waste Management Award
  • Golden Peacock HR Excellence Award
  • DMAI Award for Energy Conservation

2019-20

  • Appreciation Award By Rotary for CSR activities in Roha
  • Appreciation Award from the Government of Maharashtra by Dy. CM. Ajit Pawar
  • CSR Award from International lions Club 2020
  • Global CSR Award 2020 in Platinum Category - represented case study on Paper Bag Project - Sustainable Livelihood Initiatives for Women
  • CII HR Excellence Award
  • Certified Great Place to Work
2020-21

  • India Mahatma Award 2020 in CSR excellence in Sustainable Livelihood. Hosted by Liveweek Group, USA
  • Global Clean Village Award by Energy Foundation, Delhi for adopting villages towards Sustainable Development.
  • Suryagaurav National Award 2021 for exemplary contribution in field of CSR & Skill Development in Kokan region of Maharashtra.
  • Appreciation Award By Rotary for CSR activities in Roha
  • CSR Award from International lions Club 2020
  • Global CSR Award 2019
  • Global Waste Management Award
  • Golden Peacock HR Excellence Award
  • DMAI Award for Energy Conservation
2021-22

  • Global Clean Village Award by Energy Foundation, Delhi for adopting villages towards Sustainable Development.
  • IR HR Excellence Award 2021 Leading Practices in Employee relations - By People First
  • International lions Club CSR Award from International lions Club 2020
  • Certified as Great Place to Work for continuously 4 years
  • Suryagaurav National Award 2021 for exemplary contribution in field of CSR & Skill Development in Kokan region of Maharashtra.
  • Brands of Maharashtra in the year 2021-22.
  • CSR - Mahatma Award 2020-21
  • Corporate HR Best practices award for Accelerating Workplace Transformation in the Hybrid world - by NHRD
  • Appreciation Award By Rotary for CSR activities in Roha
  • CSR- Global Award 2020 in Platinum Category - represented case study on Paper Bag Project – Sustainable Livelihood Initiatives for Women.
2022-23

  • Mahabrand Award
  • Navabharat CSR Awards 2023 for Excellence in CSR Activities
  • Global Clean village Award
  • National CSR Excellence Award for ‘Integrated Village Development Project’ -2022
  • Lokmat Achievers Award 2021
  • BEST CSR video award received in India’s 1st CSR Film festival.
  • Suryagaurav National Award 2021 for exemplary contribution in the field of CSR & Skill Development in the Kokan region of Maharashtra.
  • Achieved the prestigious Silver Recognition Level in the annual EcoVadis Sustainability Rating
  • Mahatma Award
2023-24

  • Maharashtra CSR Award – 2023 - Received award for Contribution to creating a sustainable impact on society at large.
  • Greentech CSR Award2023- for the Rural Development.
  • Greentech Environment Excellence Award- for achievements in Environment Excellence.
  • The EEF Global Sustainability Award 2023 In Platinum Category
  • 14th CII National HR Excellence Award 2023-24
2025

  • Sudarshan has received the prestigious Responsible Care (RC) certification.

Milestones

  • 1951: Established as Sudarshan Chemical Industries Private Limited.
  • 1952: Started its first manufacturing facility in Swargate, Pune.
  • 1961: Began manufacturing of Organic pigments.
  • 1967: Started exporting globally.
  • 1968: Built a new plant at Wellesley Road in Pune.
  • 1973: Established manufacturing facility at Roha.
  • 1976: Got listed on BSE.
  • 1989: Collaboration with world leader, DIC, Japan.
  • 1993: Became the first Indian chemical company to receive ISO 9001 certificate.
  • 1994: Commenced manufacturing plant in Mahad for Pthalos and Effect pigments.
  • 1999: Introduced SAP across all its functions.
  • 2006: Achieved a net revenue of Rs 400 crore. Established a state-ofthe-art technology R&D centre at Sutarwadi.
  • 2007: Established subsidiary Sudarshan Europe BV.
  • 2009: Expanded its footprints in the USA, incorporation of Sudarshan North America.
  • 2010: Received Sword of Honour from the British Safety Council.
  • 2014: Achieved a net revenue of Rs 1,000 crore.
  • 2017: Certified as ‘Dream Company to work for’ in chemical sector.
  • 2017: Started co-gen plant.
  • 2018: Established Sudarshan Mexico.
  • 2018: Invested in renewable source of energy such as windmill, solar energy.
  • 2018: Became number 4 in Pigment industry.
  • 2019: Sudarshan established laboratory in Germany
  • 2020: Established Sudarshan Japan K.K.
  • 2023: Successfully completed commissioning of Capex programme for Rs 750 crore.
  • 2023: Launched a wide range of new products.
  • 2024: Strong business performance led by volume growth.
  • 2024: Highest ever pigment annual and Q4 EBITDA.
  • 2025: Entered a new era by acquiring the Heubach Group, including Clariant’s pigments business, whose legacy dates back to 1806. This transformative move created one of the world’s most integrated and comprehensive pigment platforms: ONE Sudarshan.
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