Manufactures organic pigments and active pharmaceutical ingredients. The Pigments segment, contributing 79.2% of FY26 segment revenue at ₹429.18 crore, is split between phthalocyanine (blue) pigments, which alone generated ₹354.63 crore, and AZO pigments at ₹74.55 crore. The API segment contributed the remaining 20.8% at ₹113.00 crore of revenue. Exports account for 69% of total sales, making the business heavily oriented to overseas markets. Raw materials are the largest cost at 71.4% of revenue, reflecting the chemicals-based manufacturing model. The API business has grown volumes at 18% CAGR over three years, and the Azo and API businesses reached cash break-even by FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. PIGMENTS (79%), API (21%). Cyclical, chemicals-based manufacturer split between pigments and API, with 69% export exposure
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 415 | 505 | 426 | 562 | 535 |
| EBITDA (ex other income) | 37 | 5 | 44 | 56 | 50 |
| margin % | 8.8 | 1.0 | 10.3 | 10.0 | 9.3 |
| Owners' profit | 19 | (12) | 20 | 20 | 19 |
| EPS, as reported (₹) | 16.10 | (9.83) | 17.01 | 16.76 | 15.92 |
| ROE % · ROCE % | 5.2 · 7.8 | (7.1) · (1.1) | 5.9 · 8.5 | 6.0 · 11.4 | 6.0 · 10.4 |
| Debt / equity (x) | 0.31 | 0.69 | 0.74 | 0.58 | 0.47 |
| Cash from operations | 9 | 34 | 8 | 58 | 43 |
| Capex | (28) | (31) | (53) | (6) | (6) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 142 | 134 | 153 | 150 | 121 | 121 | 144 | 189 |
| Profit before tax | 5 | 4 | 9 | 4 | 4 | 3 | 15 | 25 |
| Net profit | 3 | 2 | 7 | 3 | 2 | 2 | 11 | 19 |
| EPS (₹) | 3.26 | 2.63 | 6.48 | 2.68 | 1.91 | 2.11 | 9.22 | 16.32 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| PIGMENTS | 209 | 38.6 |
| API | 113 | 20.8 |
| Pigments | 220 | 40.5 |
| Total, before eliminations | 542 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUDARSHAN CHEMICAL INDS L | 9,898 | 136.8 | 2.57 | 17.3 | 1.1 | 1.9 | 39.3 | 10.5 |
| KIRI INDUSTRIES LIMITED | 3,483 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Newspaper ad published for AGM notice and e-voting details | compliance | minimal | — | — |
| 7 Sept 2026 · Newspaper ad for AGM notice, e-voting and record date | compliance | minimal | — | — |
| 5 Sept 2026 · FY26 Annual Report filed; revenue down 4.78% to Rs 535.48 cr | results | high | — | — |
| 5 Sept 2026 · 36th AGM notice and dividend of Rs 1.50 per share declared | compliance | minimal | — | — |
| 5 Sept 2026 · Record date fixed for final dividend of Rs 1.50 per share | corporate actions | medium | — | — |
| 5 Sept 2026 · 36th AGM on Sep 30, 2026 via video conferencing; final dividend, director re-appointments on agenda | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Asahi Songwon EGM: New CEO appointed, loan approval passed | board shareholder meetings | low | — | — |
| 25 Aug 2026 · EGM outcome: CEO appointment and loan approval resolutions passed | board shareholder meetings | medium | — | — |
| 12 Aug 2026 · Promoter Arjun Gokul Jaykrishna buys 10,000 shares of Asahi Songwon Colors | ownership changes | medium | — | — |
| 5 Aug 2026 · Asahi Songwon Q1FY27: Revenue up 25% YoY, PAT jumps 633% | results | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 0.6 |
| 0.54 |
| 0.5 |
| 86.4 |
| 86.1 |
| (2.6) |
| 96.6 |
| SHRE PUSH CHEM & FERT LTD | 1,576 | 21.9 | 2.58 | 15.1 | 11.5 | 12.5 | 22.4 | 13.1 |
| BHAGERIA INDUSTRIES LTD | 1,389 | 20.1 | 2.34 | 15.2 | 7.5 | 8.6 | 16.8 | 20.1 |
| ULTRAMARINE & PIGMENTS L | 1,241 | 15.3 | 1.43 | 9.5 | 9.3 | 11.1 | 20.2 | 13.8 |
| SUDARSHAN COLORNT IND LTD | 871 | 18.2 | 1.53 | — | 7.8 | 9.6 | — | 14.8 |
| ASAHI SONGWON COLOR LTD ◆ | 430 | 12.3 | 1.44 | 10.1 | 6.0 | 7.0 | 13.6 | 17.3 |
| AKSHARCHEM INDIA LIMITED | 341 | 24.3 | 1.31 | — | (0.2) | (1.5) | — | 16.1 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.3 | 19.8 | 2 of 10 | 89% |
| P/B | 1.4 | 1.5 | 5 of 10 | 56% |
| ROCE | 7.0 | 7.8 | 6 of 10 | 44% |
| ROE | 6.0 | 6.7 | 6 of 10 | 44% |
| Debt / Equity | 0.5 | 0.2 | 9 of 10 | 11% |
| EBITDA margin | 17.3 | 14.3 | 3 of 10 | 78% |
| Revenue growth | 26.0 | 7.8 | 4 of 10 | 67% |
| Profit growth | 633.3 | 53.6 | 3 of 10 | 78% |
| Market cap | 430 | 1056 | 7 of 10 | 33% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
