Makes dyes and pigments sold to plastics manufacturers, coatings makers and specialty chemical buyers, organised into two reporting segments. In the most recent disclosed segment split (FY23), Plastics and Coatings contributed 95.4% of segment revenue (Rs 731.42 crore, EBIT Rs 40.84 crore) and Specialty Chemicals the remaining 4.6% (Rs 35 crore, EBIT Rs 5 crore). In FY26, the company posted total revenue of Rs 780.63 crore, down 5.4% from the prior year, with net profit of Rs 44.53 crore and EBITDA margin of 10.22%. Raw materials are the largest cost line at 45.5% of revenue, followed by other operating expenses at 22.7% and employee costs at 9.1%, with depreciation at 2.5% and capex at 3.7% of revenue. The company was renamed from Heubach Colorants India to Sudarshan Colorants India in December 2025, and the promoter group holds 70.25% of shares through three overseas entities. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Plastics and Coatings (95%), Specialty Chemicals (5%). Specialty dyes and pigments maker, materials-heavy cost structure
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 840 | 766 | 791 | 825 | 781 |
| EBITDA (ex other income) | 62 | 55 | 72 | 73 | 53 |
| margin % | 7.3 | 7.2 | 9.1 | 8.8 | 6.8 |
| Owners' profit | 43 | 19 | 41 | 51 | 45 |
| EPS, as reported (₹) | 18.77 | 8.31 | 17.82 | 22.29 | 19.29 |
| ROE % · ROCE % | 10.5 · 11.7 | 4.4 · 9.0 | 8.7 · 11.4 | 9.8 · 12.6 | 7.8 · 10.0 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 13 | 36 | 95 | 111 | 34 |
| Capex | (20) | (16) | (17) | (12) | (29) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 218 | 213 | 220 | 211 | 183 | 176 | 211 | 222 |
| Profit before tax | 25 | 23 | 13 | 23 | 21 | (3) | 16 | 27 |
| Net profit | 18 | 17 | 11 | 17 | 16 | (2) | 13 | 20 |
| EPS (₹) | 7.98 | 7.46 | 4.61 | 7.40 | 7.05 | (0.86) | 5.69 | 8.82 |
| 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 | 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 1 Sept 2026 · GST inspection at Maharashtra units concludes, no material impact claimed | regulatory legal | high | — | — |
| 1 Sept 2026 · Non-Executive Director Mr. Mandar Velankar resigns from Sudarshan Colorants | management changes | medium | — | — |
| 1 Sept 2026 · Director Mandar Velankar resigns citing personal reasons | management changes | medium | — | — |
| 1 Sept 2026 · Newspaper publication for physical securities demat window | compliance | minimal | — | — |
| 26 Aug 2026 · GST inspection at Sudarshan Colorants offices and units in Maharashtra | regulatory legal | high | — | — |
| 19 Aug 2026 · 69th AGM voting results: All 3 resolutions passed with requisite majority | compliance | minimal | — | — |
| 18 Aug 2026 · 69th AGM held via video conference on Aug 18, 2026 with three ordinary resolutions | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Sudarshan Chemical to acquire 15.89 percent stake from group subsidiary | ownership changes | high | — | — |
| 17 Aug 2026 · Internal restructuring - promoter to acquire 15.89% stake from group subsidiary | ownership changes | medium | — | — |
| 6 Aug 2026 · Newspaper publication of Q1 FY27 unaudited standalone results | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 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) | 18.2 | 19.8 | 4 of 10 | 67% |
| P/B | 1.5 | 1.5 | 6 of 10 | 44% |
| ROCE | 9.6 | 7.8 | 4 of 10 | 67% |
| ROE | 7.8 | 6.7 | 4 of 10 | 67% |
| Debt / Equity | 0.0 | 0.2 | 1 of 10 | 100% |
| EBITDA margin | 14.8 | 14.3 | 5 of 10 | 56% |
| Revenue growth | 5.5 | 7.8 | 6 of 10 | 44% |
| Profit growth | 19.2 | 53.6 | 6 of 10 | 44% |
| Market cap | 871 | 1056 | 6 of 10 | 44% |
| 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 |
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.
