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Dossier · ISHAN DYES N CHEMICALS L · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
ISHAN DYES N CHEMICALS L
NSE: ISHANCH · BSE: 531109
NSE: ISHANCH · BSE: 531109
Commodities › Chemicals › Chemicals & Petrochemicals › Specialty Chemicals
ISHAN DYES N CHEMICALS L
StateQ1 FY27 filed
Last close · 28 Oct 2026₹48.50
Market cap₹0.1k cr
TTM P/E · P/B · EV/EBITDA— · 0.93 · 23.8
ISHAN DYES N CHEMICALS L is a Chemicals & Petrochemicals company listed on NSE. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 87 | 65 | 77 | 101 | 73 |
| EBITDA (ex other income) | 15 | 1 | 3 | 7 | 4 |
| margin % | 17.3 | 1.7 | 4.1 | 6.6 | 5.1 |
| Owners' profit | 10 | (1) | 0 | 1 | (7) |
| EPS, as reported (₹) | 6.32 | (0.65) | 0.06 | 0.52 | (6.00) |
| ROE % · ROCE % | 11.8 · 17.3 | (1.2) · 0.4 | 0.1 · 2.5 | 1.0 · 5.0 | (5.0) · 1.1 |
| Debt / equity (x) | 0.20 | 0.22 | 0.58 | 0.89 | 0.64 |
| Cash from operations | (10) | 20 | (9) | 12 | 9 |
| Capex | (7) | (29) | (33) | (42) | (39) |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · ISHAN DYES N CHEMICALS L · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 31 | 21 | 17 | 16 | 7 | 19 | 32 | 41 |
| Profit before tax | 1 | 1 | (1) | 0 | (4) | (4) | 2 | 0 |
| Net profit | 1 | 0 | (1) | 0 | (4) | (5) | 1 | 0 |
| EPS (₹) | 0.63 | 0.02 | (0.55) | 0.14 | (1.68) | (2.01) | 1.12 | 0.06 |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PIDILITE INDUSTRIES LTD | 1,42,095 | 53.6 | 12.86 | 37.6 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 69,659 | 32.2 | 4.96 | 21.6 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 47,075 | 76.8 | 5.95 | 37.4 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 43,610 | 55.1 | 10.97 | 39.3 | 16.7 | 16.4 | 23.0 | 37.5 |
| AETHER INDUSTRIES LIMITED | 20,905 | 88.6 | 8.51 | 56.8 | 8.9 | 11.4 | — | 33.8 |
| DEEPAK NITRITE LTD | 20,257 | 25.9 | 3.45 | 21.0 | 9.4 | 10.2 | 12.6 | 21.5 |
| AARTI INDUSTRIES LTD | 15,871 | 29.9 | 2.67 | 17.1 | 7.0 | 4.4 | 13.0 | 16.2 |
| FINE ORGANIC IND. LTD. | 15,604 | 35.6 | 5.86 | 25.5 | 15.7 | 20.0 | 15.9 | 28.8 |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.9 | 2.8 | 9 of 99 | 92% |
| ROCE | (2.8) | 10.1 | 100 of 106 | 6% |
| ROE | (5.0) | 8.1 | 94 of 99 | 5% |
| Debt / Equity | 0.6 | 0.2 | 84 of 99 | 15% |
| EBITDA margin | 11.4 | 15.5 | 67 of 99 | 33% |
| Revenue growth | 154.7 | 24.4 | 4 of 94 | 97% |
| Profit growth | (49.0) | 55.1 | 84 of 92 | 9% |
| Market cap | 132 | 699 | 78 of 108 | 28% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · ISHAN DYES N CHEMICALS L · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Ishan Dyes reports higher half-year profit and declares Rs 0.50 dividend | compliance | minimal | — | — |
| 26 Oct 2026 · Profit turns positive, but review flags Rs 899.59 lakh inventory overstatement | results | high | — | — |
| 26 Oct 2026 · September 2026 results qualified despite strong sales and profit growth | results | high | — | — |
| 19 Oct 2026 · Board meeting on 26 Oct to consider Q2 and H1 FY26 results | results | low | — | — |
| 15 Oct 2026 · Routine compliance certificate under SEBI Regulation 74(5) for Q2 FY26-27 | compliance | minimal | — | — |
| 1 Oct 2026 · AGM results: Both resolutions passed at 33rd AGM of Ishan Dyes | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Ishan Dyes 33rd AGM held on Sept 29, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading window closure from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 4 Sept 2026 · Newspaper publication of 33rd AGM notice and e-voting details | compliance | minimal | — | — |
| 3 Sept 2026 · Annual Report FY26 shows loss; revenue down 28 percent | results | high | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
| 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 | 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 |
Sources, method and disclosures
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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in