Sudarshan Chemicals

₹719 5.2 | 0.7%

WEBSITE BSE:506655 NSE : SUDARSH.CHEM 10 May, 16:01

Market Cap ₹4977 Cr.

Stock P/E 15.0

P/B 4.5

Current Price ₹719

Book Value ₹ 161.3

Face Value 2

52W High ₹781.5

Dividend Yield 0.21%

52W Low ₹ 382.1

Edit Ratio

Sudarshan Chemicals Research see more...

An equity research report on Sudarshan Chemical Industries Ltd

Overview Inc. Year: 1951Industry: Dyes & Pigments

Sudarshan Chemical Industries Ltd is a holding company. The Company is a colour and effect pigment producer. It operates via various segments, which consist of Pigments, Agro chemical compounds and Others. It's Pigments segment is engaged in the manufacturing of Green, Azos, Blue and High Performance Pigments, Effects, Pigment Preparations and Inorganics. The Agro chemical section offers merchandise, that are generic in nature. The Company elements pigments to inks, cosmetics, fabric, paints, plastics, and different programs. It produces quite a number of classical organic pigments for the colour of publications and commercial printing inks for magazines, direct mail and other business printing. The Company provides its pigments underneath numerous brands, including Sudadur, Sudafine, Sumicos, Prestige, Sudaperm, Sudafast, Sudacolor, and Sumica. Its pigments are exported to various markets in America, Asia and Europe. It has over manufacturing centres at Roha and Mahad in India.

Sudarshan Chemicals Share Price

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Peer Comparison

Sudarshan Chemicals Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	498	602	627	554	528	528	691	608	601	566
Other Income	1	3	2	1	1	1	2	4	6	4
Total Income	499	605	629	555	530	529	693	612	606	570
Total Expenditure	445	529	541	513	486	486	606	538	535	504
Operating Profit	54	75	88	42	44	43	86	74	71	66
Interest	4	5	5	6	9	11	15	10	10	9
Depreciation	22	22	25	26	27	31	31	35	35	35
Exceptional Income / Expenses	0	0	0	0	0	0	0	315	0	0
Profit Before Tax	28	49	58	10	8	1	41	344	26	22
Provision for Tax	5	12	13	3	3	0	8	77	8	7
Profit After Tax	23	36	45	7	5	1	33	267	18	15
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	23	36	45	7	5	1	33	267	18	15
Adjusted Earnings Per Share	3.3	5.3	6.5	1	0.7	0.1	4.7	38.6	2.6	2.1

Sudarshan Chemicals Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	873	1119	1218	1409	1282	1329	1593	1708	1864	2201	2302	2466
Other Income	7	4	24	14	18	11	7	5	17	5	5	16
Total Income	880	1122	1242	1423	1300	1340	1600	1713	1881	2206	2307	2481
Total Expenditure	793	987	1088	1240	1095	1142	1387	1460	1584	1923	2089	2183
Operating Profit	87	135	154	184	205	198	213	253	297	283	218	297
Interest	34	43	41	37	30	25	19	16	20	23	44	44
Depreciation	26	37	42	48	49	58	66	74	87	89	114	136
Exceptional Income / Expenses	0	0	0	0	0	0	72	17	0	0	0	315
Profit Before Tax	26	55	72	99	126	115	201	180	190	171	60	433
Provision for Tax	4	20	17	29	34	38	68	35	49	41	15	100
Profit After Tax	22	35	54	70	92	77	133	145	141	130	45	333
Adjustments	0	0	0	0	10	8	2	-1	0	0	0	0
Profit After Adjustments	22	35	54	70	101	85	135	145	141	130	45	333
Adjusted Earnings Per Share	3.2	5.1	7.9	10.1	14.6	12.2	19.5	20.9	20.4	18.8	6.5	48

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	5%	10%	12%	10%
Operating Profit CAGR	-23%	-5%	2%	10%
PAT CAGR	-65%	-32%	-10%	7%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	75%	4%	18%	28%
ROE Average	5%	14%	19%	19%
ROCE Average	6%	12%	16%	16%

Sudarshan Chemicals Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	254	271	263	314	381	440	568	601	744	833	828
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	215	183	161	218	142	182	113	225	308	369	449
Other Non-Current Liabilities	151	151	173	196	160	133	216	285	357	286	298
Total Current Liabilities	377	431	536	504	679	604	651	790	916	1233	1160
Total Liabilities	998	1037	1134	1233	1362	1400	1617	1901	2325	2720	2734
Fixed Assets	319	327	333	358	452	475	465	627	615	832	1126
Other Non-Current Assets	163	138	155	192	166	108	202	355	622	514	277
Total Current Assets	517	571	646	684	744	740	859	919	1089	1374	1303
Total Assets	998	1037	1134	1233	1362	1400	1617	1901	2325	2720	2734

Sudarshan Chemicals Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	34	41	13	22	20	10	8	5	8	16	25
Cash Flow from Operating Activities	25	48	112	164	163	148	71	263	165	180	287
Cash Flow from Investing Activities	-120	-28	-61	-83	-135	-87	-27	-220	-266	-308	-189
Cash Flow from Financing Activities	101	-48	-43	-81	-38	-62	-48	-39	108	138	-103
Net Cash Inflow / Outflow	7	-27	8	-0	-10	-2	-3	3	8	9	-5
Closing Cash & Cash Equivalent	41	13	22	21	10	8	5	8	16	25	20

Sudarshan Chemicals Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	3.18	5.06	7.86	10.1	14.64	12.24	19.52	20.88	20.38	18.77	6.47
CEPS(Rs)	6.99	10.37	13.91	17.05	20.33	19.45	28.65	31.58	32.88	31.67	22.97
DPS(Rs)	2.5	3	1.75	3	3.5	3.5	6	6.3	6	5	1.5
Book NAV/Share(Rs)	29.53	31.94	37.93	45.35	55.05	63.56	82.01	86.79	107.23	120.03	119.16
Core EBITDA Margin(%)	8.44	10.91	9.93	11.18	13.53	13.83	12.96	14.55	15.02	12.63	9.26
EBIT Margin(%)	6.41	8.17	8.54	8.94	11.29	10.35	13.82	11.52	11.29	8.8	4.51
Pre Tax Margin(%)	2.76	4.61	5.45	6.53	9.15	8.53	12.6	10.56	10.21	7.78	2.6
PAT Margin (%)	2.34	2.91	4.14	4.61	6.66	5.69	8.33	8.49	7.57	5.91	1.95
Cash Profit Margin (%)	5.14	5.97	7.33	7.78	10.21	9.96	12.45	12.8	12.21	9.96	6.91
ROA(%)	2.41	3.44	5.01	5.91	7.07	5.57	8.8	8.25	6.68	5.15	1.64
ROE(%)	11.06	16.47	22.48	24.25	26.41	18.74	26.35	24.83	21.01	16.52	5.41
ROCE(%)	10.73	15.1	16.54	18.84	19.99	16.61	24.38	19.35	17.13	12.87	6.29
Receivable days	78.32	71.05	79.95	80.65	92.12	91.28	77.84	75.88	83.09	81.71	78.24
Inventory Days	82.21	73.7	70.65	60.58	68.02	72.03	66.51	76.74	80.5	81.06	84.05
Payable days	74.81	52.57	61.24	75.6	116.71	128.9	98.12	114.72	139.85	138.33	137.45
PER(x)	9.9	10.05	10.2	9.38	23.84	35.85	17.68	17.92	25.46	27.71	60.33
Price/Book(x)	1.07	1.59	2.11	2.09	6.34	6.9	4.21	4.31	4.84	4.33	3.27
Dividend Yield(%)	3.97	2.95	2.18	3.17	1	0.8	1.74	1.68	1.16	0.96	0.38
EV/Net Sales(x)	0.7	0.69	0.79	0.75	2.21	2.6	1.72	1.8	2.24	1.99	1.52
EV/Core EBITDA(x)	7.04	5.75	6.26	5.77	13.85	17.48	12.87	12.14	14.08	15.49	16
Net Sales Growth(%)	9.07	28.15	8.9	15.69	-9.06	-11.33	19.83	7.23	9.1	18.06	4.59
EBIT Growth(%)	-15.2	62.96	14.1	20.78	14.85	-18.03	57.33	-10.59	7.39	-7.96	-46.43
PAT Growth(%)	-34.42	59.21	55.16	28.57	31.25	-24.11	72.59	9.29	-2.37	-7.9	-65.55
EPS Growth(%)	-34.42	59.21	55.16	28.57	44.97	-16.41	59.46	6.98	-2.37	-7.9	-65.55
Debt/Equity(x)	2.14	1.99	1.65	1.37	1.14	0.98	0.65	0.83	0.83	0.99	0.99
Current Ratio(x)	1.37	1.32	1.2	1.36	1.1	1.22	1.32	1.16	1.19	1.11	1.12
Quick Ratio(x)	0.77	0.73	0.74	0.85	0.71	0.77	0.85	0.64	0.74	0.66	0.7
Interest Cover(x)	1.76	2.29	2.76	3.71	5.27	5.68	11.34	12	10.47	8.57	2.36
Total Debt/Mcap(x)	2	1.25	0.78	0.66	0.18	0.14	0.15	0.19	0.17	0.23	0.3

Sudarshan Chemicals Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	35.73	35.82	35.82	35.82	35.82	35.82	35.82	35.82	35.82	33.22
FII	8.48	7.92	6.02	4.15	2.8	3.11	3.48	4.64	4.2	4.49
DII	10.93	11.55	13.02	14.18	14.34	14.19	14.29	13.68	13.6	17.49
Public	44.86	44.71	45.14	45.85	47.05	46.88	46.41	45.86	46.37	44.8
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	2.47	2.48	2.48	2.48	2.48	2.48	2.48	2.48	2.48	2.3
FII	0.59	0.55	0.42	0.29	0.19	0.22	0.24	0.32	0.29	0.31
DII	0.76	0.8	0.9	0.98	0.99	0.98	0.99	0.95	0.94	1.21
Public	3.11	3.1	3.12	3.17	3.26	3.25	3.21	3.17	3.21	3.1
Others	0	0	0	0	0	0	0	0	0	0
Total	6.92	6.92	6.92	6.92	6.92	6.92	6.92	6.92	6.92	6.92

Pros

Debtor days have improved from 138.33 to 137.45days.

Cons

Promoter holding is low: 33.22%.
Company has a low return on equity of 14% over the last 3 years.
Stock is trading at 4.5 times its book value.
The company has delivered a poor profit growth of -10% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Sudarshan Chemicals News

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Sudarshan Chemicals

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Sudarshan Chemicals Research see more...

Overview Inc. Year: 1951Industry: Dyes & Pigments

Sudarshan Chemicals Share Price

Alert Data

Quarterly Price

Peer Comparison

Sudarshan Chemicals Quarterly Results

Sudarshan Chemicals Profit & Loss

Growth Rates

Sudarshan Chemicals Balance Sheet

Sudarshan Chemicals Cash Flow

Sudarshan Chemicals Ratios

Sudarshan Chemicals Shareholding Pattern

Sudarshan Chemicals News

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