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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

₹921.95 12.50 (1.37%)

As on 06-Jul'26 14:02

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

₹921.95 12.50 (1.37%)

As on 06-Jul'26 14:02

Key Metrics
Valuation Multiples
Market Cap
₹7,240 Cr.
Current Price
₹922
52-Week Low / High
₹727 / 1,604
TTM EPS
₹2.8
TTM Sales
₹9,787 Cr.
Book Value per Share
₹446
P/E Ratio
324.66
Higher than its 5-year historical median
Industry PE
2.8
Price to Book (P/B)
2.04
Lower than its 5-year historical median
Price to Sales (P/S)
0.74
Lower than its 5-year historical median
EV/EBITDA
12.38
Lower than its 5-year historical median
Dividend Yield
0.49%
Profitability Efficiency
Return on Equity (ROE)
2.64%
Underperforms industry median
Return on Capital Employed (ROCE)
4.21%
Underperforms industry median
Return on Assets (ROA)
0.94%
Operating Profit Margin
12%
Net Profit Margin
1.8%
Gross Profit Margin
10.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
31.78%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
20.93%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-83.17%
Asset Quality
Promoter Holding
8.19%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹3,535 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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Quality

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Valuation

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Price Trend

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Q.1 Is Sudarshan Chemical Industries Ltd a good quality company?
Sudarshan Chemical Industries Ltd is a good quality company, based on a consistently good 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 14.39%, 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 24% based on the current price.

DeciZen - make an informed investing decision on Sudarshan Chemicals

Decision Maker
Consolidated basis

1. Right Stock

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2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

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.
Sudarshan Chemical Industries Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 18.8%20%16.6%24.4%19.4%17.1%12.9%6.3%31.5%4.2%-
Value Creation
Index
0.40.40.20.70.40.2-0.1-0.61.3-0.7-

Growth Parameters

Sales 1,4091,2821,3291,5931,7081,8642,2012,3022,5393,3469,787
Sales YoY Gr.--9.1%3.7%19.8%7.2%9.1%18.1%4.6%10.3%31.8%-
Adj EPS 9.912.411.11219.319.618.88.22016.72.8
YoY Gr.-25.2%-10.9%8%61.5%1.2%-3.6%-56.3%142.1%-16.4%-
BVPS (₹) 45.455.163.68286.8107.2120119.2165.3434.3446
Adj Net
Profit
68.78676.682.81341351305713813122
Cash Flow from Ops. 1641631487126316518028719337-
Debt/CF from Ops. 2.62.72.95.21.93.74.62.92.356.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 10.1%14.4%15%31.8%
Adj EPS 5.9%-2.9%-4%-16.4%
BVPS28.5%38%53.5%162.7%
Share Price 15.8% 4.3% 23.2% -26.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
23.824.718.716.422.920.116.66.9145.70.6
Op. Profit
Mgn %
1214.814.31314.61512.71012.9125.6
Net Profit
Mgn %
4.96.75.85.27.87.35.92.55.44.10.2
Debt to
Equity
1.41.110.70.80.8110.40.60.5
Working Cap
Days
193228231213239256247243217351105
Cash Conv.
Cycle
90817878766875705917255

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,4091,2821,3291,5931,7081,8642,2012,3022,5393,346
Operating Expenses + 1,2401,0951,1421,3871,4601,5841,9232,0892,2222,962
Manufacturing Costs181176183185189220298322340453
Material Costs8207087579429761,0601,2701,3681,4151,774
Employee Cost 999294124146156184184210356
Other Costs 140118109135149148171214256380
Operating Profit 170187187206248280278213317383
Operating Profit Margin (%) 12.0%14.6%14.1%13.0%14.5%15.0%12.6%9.3%12.5%11.5%
Other Income + 1418117517551933
Exceptional Items 0007217000315-104
Interest 37302519162023443951
Depreciation 48495866748789114141166
Profit Before Tax 991261152011801901716047199
Tax 293438683549411511339
Profit After Tax 7092771331451411304535760
PAT Margin (%) 5.0%7.2%5.8%8.3%8.5%7.6%5.9%2.0%14.1%1.8%
Adjusted EPS (₹)10.114.612.219.520.920.418.86.551.67.1
Dividend Payout Ratio (%)29.70%23.90%28.60%30.70%30.20%29.40%26.60%23.20%8.90%63.40%

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!

Balance Sheet

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

Equity and Liabilities

Shareholders Fund + 3143814405686017428318251,1443,413
Share Capital 14141414141414141416
Reserves 3003674265545877288178111,1313,397
Debt +3933413613034514876726422802,011
Long Term Debt2181421821132253083694491931,632
Short Term Debt17419917919022617930319286379
Minority Interest000000000598
Trade Payables2162702642423714415225095121,398
Others Liabilities 3113703345044776546967597562,658
Total Liabilities 1,2331,3621,4001,6171,9012,3252,7202,7342,69210,078

Fixed Assets

Net Fixed Assets +3584524754656276158321,1261,1022,958
Gross Block7155035846378729451,2481,6501,7633,766
Accumulated Depreciation35752108172245330416524662808
CWIP 158624482782854415140
Investments 000011222548
Inventories2532612733084114125664944382,465
Trade Receivables3533433333463644855014865851,225
Cash Equivalents 251514816243529561,511
Others Assets 2282832984664355105005524951,231
Total Assets 1,2331,3621,4001,6171,9012,3252,7202,7342,69210,078

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 1641631487126316518028719337
PBT 9912611512816319017160155203
Adjustment 91769368111104104158168101
Changes in Working Capital -6-15-72-10350-91-5880-46-184
Tax Paid -20-32-28-32-62-39-38-11-84-83
Cash Flow From Investing Activity + -83-135-87-27-220-266-308-189279-1,548
Capex -85-134-87-102-254-268-309-191267-93
Net Investments -2001-10008-1,096
Others 4-1-075352114-359
Cash Flow From Financing Activity + -81-38-62-48-39108138-103-4462,596
Net Proceeds from Shares 000000000995
Net Proceeds from Borrowing 36-87-63641745578-2671,446
Interest Paid -33-27-24-18-14-17-19-35-35-45
Dividend Paid -35-25-29-8-100-0-41-34-33-9
Others -4822-164111-48143-112-111209
Net Cash Flow -0-10-2-3389-5271,085

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)24.2526.4118.7426.3524.8321.0116.525.4136.32.64
ROCE (%)18.8419.9916.6124.3819.3517.1312.876.2931.494.21
Asset Turnover Ratio1.281.060.981.060.970.880.870.840.940.52
PAT to CFO Conversion(x)2.341.771.920.531.811.171.386.380.540.62
Working Capital Days
Receivable Days80.7092.1091.3077.8075.9083.1081.7078.207798.80
Inventory Days60.60687266.5076.7080.5081.1084.1067158.40
Payable Days75.60116.70128.9098.10114.70139.90138.30137.50131.60196.60

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

Sudarshan Chemical Industries Ltd FAQs

The current trading price of Sudarshan Chemicals on 06-Jul-2026 14:02 is ₹922.0.

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 05-Jul-2026 the market cap of Sudarshan Chemicals stood at ₹7,239.9 Cr

The latest P/E ratio of Sudarshan Chemicals as of 05-Jul-2026 is 24.94.

The latest P/B ratio of Sudarshan Chemicals as of 05-Jul-2026 is 2.75.

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 ₹2,397 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Sudarshan Chemical Industries Ltd is a good 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 Semi Strong which suggest that the price of Sudarshan Chemical Industries Ltd is likely to Rise-somewhat 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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