NSE: SUDARSHAN · BSE: 543828
SUDARSHAN PHARMA IND LTD
Manufactures and sells specialty chemicals and pharmaceutical products from GMP-certified facilities at Palghar and Hyderabad. The product range covers pharmaceuticals, active pharmaceutical ingredients (APIs), drugs, chemicals, and healthcare products. Growth has come through acquisitions, including Ratna Lifesciences and a 51% stake in Ishwari Healthcare, and through export expansion, supported by a wholly-owned US subsidiary called Sudarshan Industries Inc. incorporated in Delaware. FY26 revenue was ₹703.0565 crore (up from ₹505 crore in FY25), with net profit of ₹23.3717 crore and an EBITDA margin of 8.5382%. Export turnover for FY25-26 was ₹21.85 crore, with a stated minimum target of ₹100 crore for FY26-27. On the cost side, materials accounted for 5.6% of revenue, employees 1.1%, other operating expenses 3.5%, depreciation 0.5%, and capex 9.8%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Specialty chemicals, Pharmaceuticals and APIs, Exports / overseas sales. Small-cap, asset-intensive specialty chemicals and pharmaceutical manufacturer with growing export operations.
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 461 | 464 | 505 | 703 |
| EBITDA (ex other income) | — | — | — | 51 |
| margin % | — | — | — | 7.3 |
| Owners' profit | — | — | — | 23 |
| EPS, as reported (₹) | 5.48 | 4.76 | 0.66 | 0.97 |
| ROE % · ROCE % | — · 13.1 | — · 19.8 | — · 26.2 | 15.0 · 30.3 |
| Debt / equity (x) | — | — | — | 1.81 |
| Cash from operations | (24) | (73) | (26) | (2) |
| Capex | — | — | (1) | (69) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 232 | 232 | 228 | 277 | 145 | 169 | 168 | 389 |
| Profit before tax | 7 | 9 | 8 | 14 | 5 | 4 | 5 | 21 |
| Net profit | — | — | — | — | 4 | 4 | 4 | 16 |
| EPS (₹) | 2.02 | 2.74 | 2.46 | 0.41 | 0.16 | 0.16 | 0.18 | 0.65 |
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 | 1,47,581 | 55.7 | 13.36 | 39.1 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 69,214 | 32.0 | 4.93 | 21.4 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 46,552 | 76.0 | 5.88 | 37.0 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 42,476 | 53.7 | 10.69 | 38.3 | 16.7 | 16.4 | 23.0 | 37.5 |
| AETHER INDUSTRIES LIMITED | 20,367 | 86.4 | 8.29 | 55.4 | 8.9 | 11.4 | — | 33.8 |
| DEEPAK NITRITE LTD | 19,572 | 25.0 | 3.33 | 20.3 | 9.4 | 10.2 | 12.6 | 21.5 |
| ATUL LTD | 15,853 | 19.9 | 2.52 | 12.9 | 10.9 | 13.3 | 10.9 | 23.1 |
| AARTI INDUSTRIES LTD | 15,833 | 29.8 | 2.66 | 17.1 | 7.0 | 4.4 | 13.0 | 16.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 30.2 | 23.0 | 63 of 99 | 37% |
| P/B | 5.3 | 2.8 | 78 of 99 | 21% |
| ROCE | 16.4 | 10.1 | 27 of 106 | 75% |
| ROE | 14.9 | 8.1 | 19 of 99 | 82% |
| Debt / Equity | 1.8 | 0.2 | 95 of 99 | 4% |
| EBITDA margin | 9.4 | 15.5 | 76 of 99 | 24% |
| Revenue growth | 40.3 | 24.4 | 22 of 94 | 77% |
| Market cap | 835 | 697 | 51 of 108 | 53% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to review September quarter results and consider fundraising | results | low | — | — |
| 23 Oct 2026 · Shares to join NSE Capital Market Segment on October 27, 2026 | capital market events | medium | — | — |
| 7 Oct 2026 · Sudarshan Pharma scraps plan to acquire 9.50 percent stake in US biotech firm | strategic transactions | high | — | — |
| 7 Oct 2026 · Routine compliance filing: Depository certificates submitted for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · Trading window closure ahead of Q2 and H1 FY27 results | compliance | minimal | — | — |
| 28 Sept 2026 · Sudarshan Pharma completes sale of 51% stake in Ishwari Healthcare | strategic transactions | medium | — | — |
| 22 Sept 2026 · Both AGM resolutions passed unanimously with 100% approval | compliance | minimal | — | — |
| 22 Sept 2026 · 18th AGM voting results submitted to BSE | board shareholder meetings | low | — | — |
| 22 Sept 2026 · 18th AGM held via video conferencing, two ordinary resolutions transacted | board shareholder meetings | low | — | — |
| 15 Sept 2026 · Sudarshan Pharma: Med Therapy USA acquisition still under due diligence | general | medium | — | — |
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.