NSE: SRHHYPOLTD · BSE: 532842
SREE RAYALSEEMA HHP LTD.
Manufactures and sells hi-strength hypochlorite ("hypo") and related commodity chemicals out of Andhra Pradesh under the Sree Rayalaseema brand, generating ₹666.96 crore in FY26 revenue. The Chemicals segment is the dominant earner, accounting for ₹178.18 crore, or 93.5% of segment revenue, in the quarter ended 30 June 2025, with an 11.2% EBIT margin on that revenue. A small Power Generation segment (1.1% of segment revenue in that quarter) runs alongside, typically captive, and a Trading line contributes a sliver (₹8.86 crore across FY26). The cost stack is raw-material heavy: materials and power together take ₹331.82 crore, or 49.8% of FY26 revenue, followed by other operating expenses at 30.6% and employee cost at 6.1%. The company is essentially debt-free (debt-to-equity of 0.0004, no outstanding borrowings reported) and holds ₹433.97 crore in cash and equivalents, funded by retained earnings. FY26 net profit stood at ₹90.15 crore (13.5% margin) on a 4.6% revenue rise year-on-year, though a five-year revenue CAGR of -6.0% points to a longer-term decline. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Chemicals (94%), Power Generation (1%), Trading (0%). Debt-free, asset-light commodity chemicals maker with a small captive power line.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,267 | 1,650 | 866 | 638 | 667 |
| EBITDA (ex other income) | 149 | 178 | 100 | 89 | 75 |
| margin % | 11.7 | 10.8 | 11.5 | 14.0 | 11.2 |
| Owners' profit | 103 | 154 | 79 | 87 | 90 |
| EPS, as reported (₹) | 59.88 | 89.87 | 46.01 | 50.96 | 53.24 |
| ROE % · ROCE % | 18.0 · 24.0 | 20.5 · 25.2 | 9.9 · 12.9 | 9.4 · 12.0 | 9.2 · 11.6 |
| Debt / equity (x) | 0.03 | 0.02 | 0.01 | 0.02 | 0.00 |
| Cash from operations | 60 | 141 | 139 | 65 | 39 |
| Capex | (14) | (10) | (20) | (2) | (6) |
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 | 170 | 138 | 160 | 180 | 182 | 141 | 163 | 211 |
| Profit before tax | 36 | 30 | 27 | 31 | 32 | 34 | 23 | 34 |
| Net profit | 25 | 22 | 22 | 22 | 23 | 24 | 20 | 25 |
| EPS (₹) | 14.74 | 12.56 | 12.81 | 13.06 | 13.57 | 14.16 | 11.83 | 14.53 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Chemicals | 178 | 93.5 |
| Power Generation | 2 | 1.1 |
| Unallocated | 10 | 5.4 |
| Total, before eliminations | 191 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TATA CHEMICALS LTD | 15,351 | — | 0.69 | 139.2 | (7.7) | (5.0) | 7.4 | 14.4 |
| DEEPAK FERTILIZERS & PETR | 14,679 | 14.9 | 1.97 | 11.1 | 9.9 | 8.4 | 14.6 | 26.1 |
| GUJ NAR VAL FER & CHEM L | 7,529 | 7.3 | 0.83 | 5.4 | 8.9 | 10.3 | 8.7 | 22.1 |
| TANFAC INDUSTRIES LTD. | 6,923 | 56.6 | 18.55 | — | 18.8 | 24.3 | — | 16.0 |
| GUJARAT ALKALIES & CHEM | 4,105 | 61.8 | 0.79 | 8.7 | (0.0) | 0.7 | 12.4 | 18.4 |
| GHCL LIMITED | 3,565 | 7.8 | 1.00 | 4.7 | 13.3 | 16.6 | 1.1 | 23.9 |
| GRAUER & WEIL IND LTD | 3,543 | 21.6 | 3.28 | 14.4 | 15.2 | 19.2 | 14.5 | 20.4 |
| J.G.CHEMICALS LIMITED | 2,179 | 29.0 | 4.03 | 22.2 | 12.7 | 16.9 | — | 11.5 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 8.7 | 17.4 | 13 of 50 | 76% |
| P/B | 0.8 | 1.4 | 17 of 60 | 73% |
| ROCE | 11.5 | 6.0 | 18 of 62 | 72% |
| ROE | 9.2 | 5.0 | 23 of 60 | 63% |
| Debt / Equity | 0.0 | 0.2 | 12 of 60 | 81% |
| EBITDA margin | 17.2 | 13.3 | 17 of 58 | 72% |
| Revenue growth | 17.0 | 6.7 | 17 of 54 | 70% |
| Profit growth | 10.3 | 21.0 | 37 of 64 | 43% |
| Market cap | 812 | 98 | 16 of 66 | 77% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Newspaper ad filing on physical share transfer special window | compliance | minimal | — | — |
| 9 Oct 2026 · Routine RTA compliance certificate filed with BSE and NSE | compliance | minimal | — | — |
| 7 Oct 2026 · Monthly Report on Physical Share Transfer Re-Lodgment Requests | compliance | minimal | — | — |
| 28 Sept 2026 · AGM voting results: All 6 resolutions passed, Rs 3 dividend declared | compliance | minimal | — | — |
| 28 Sept 2026 · Independent Director completes final term | management changes | medium | — | — |
| 26 Sept 2026 · Shareholders approve Independent Director appointment at AGM | management changes | medium | — | — |
| 26 Sept 2026 · 21st AGM concludes; dividend declared, related party deal approved | board shareholder meetings | medium | — | — |
| 26 Sept 2026 · Trading window closed from Oct 1, 2026 for Q2 results | compliance | minimal | — | — |
| 7 Sept 2026 · No physical share transfer requests reported in August 2026 | compliance | minimal | — | — |
| 5 Sept 2026 · Notice of 21st AGM on September 26, 2026; Rs 3 dividend, related party deals up to Rs 425 Cr | board shareholder meetings | low | — | — |
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.