Audited Standalone Financial Results for the Quarter and Financial Year ended 31st March 2026
ISHANCH · price
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Ishan Dyes and Chemicals Ltd reported a sharp deterioration in FY2026, with revenue from operations dropping to Rs. 7,347.13 Lakhs from Rs. 10,146.96 Lakhs in FY2025 — a decline of about 27.6%. The company swung to a net loss of Rs. 710.85 Lakhs versus a profit of Rs. 108.50 Lakhs in the prior year. EBITDA turned negative at Rs. (496.20) Lakhs vs Rs. 211.88 Lakhs positive. Finance costs rose to Rs. 701.83 Lakhs (up from Rs. 512.89 Lakhs), reflecting increased leverage. The auditors issued an unmodified opinion, and the company also appointed a new internal auditor (H D Panchal & Co.) for FY2027. Despite the losses, the balance sheet grew with total assets at Rs. 25,599.13 Lakhs (vs Rs. 22,189.53 Lakhs), driven by a large increase in property, plant and equipment (Rs. 16,340.06 Lakhs vs Rs. 6,181.24 Lakhs). The company raised equity capital (share warrants + equity) of around Rs. 4,530 Lakhs.
The company swung from a profit of Rs. 108.50 Lakhs to a net loss of Rs. 710.85 Lakhs, with a 27.6% revenue decline and negative EBITDA — a significant concern for shareholders. The high finance costs and increased borrowings (total borrowings ~Rs. 9,029 Lakhs) add further pressure.