MarketFriction

Asahi Songwon Colors Ltd

NSE ASAHISONG · BSE 532853 · Dyes And Pigments
₹371.25 -4.60%
NSE close2026-10-01
52 week range179.64 - 413.95
Market cap₹452 Cr.
P/E13.0
ESM Price band 5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales95102126134142134153150121121144189
Expenses9097117121128122136139111110125157
Operating Profit559141312171110102032
OPM %6%4.9%7%10%10%9%11%7%8%8%14%17%
Other Income2701112112031
Interest334444433333
Depreciation445555555555
Profit before tax25-1165494431525
Tax %10%63%29%28%39%47%25%39%42%15%28%25%
Net Profit23-2143273221119
EPS in Rs20.00-0.871.834.393.262.636.482.681.912.109.2216.31
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales294284283411505426562535575
Expenses253249233379499408506486503
Operating Profit40345032518575071
OPM %14%12%18%8%1.1%4.3%10%9%12%
Other Income-1146628476
Interest54251413161212
Depreciation889121516191919
Profit before tax26234421-1818252647
Tax %30%2%27%30%4%13%33%30%
Net Profit18233215-1816171834
EPS in Rs14.8818.9826.7816.10-9.8817.0116.7615.9229.54
Dividend Payout %20%16%13%3%-5%3%9%9%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%14%2%-1%
Compounded Profit Growth%-8%53%96%
Stock Price CAGR6%2%17%38%
Return on Equity%4%5%7%
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1212121212121212
Reserves181189215230207224243260
Borrowings62225087180197167143
Other Liabilities5455112138147138162182
Total Liabilities309278389468545570584596
Fixed Assets150129213235275306305292
CWIP11190251100
Investments1413211102
Other Assets143125166231244253278302
Total Assets309278389468545570584596
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity27578-03095843
Cash from Investing Activity-3-16-60-28-77-13-5-7
Cash from Financing Activity-24-395028474-49-38
Net Cash Flow02-2-00-03-2
Free Cash Flow2345-61-27125338
CFO/OP85%174%35%28%637%43%118%105%
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days687110180771059694
Inventory Days132621141518310387129
Days Payable6651981047996110137
Cash Conversion Cycle13482117127821117285
Working Capital Days7799907412252737
ROCE %11%15%7%-1%1%9%8%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters66.73%66.77%66.77%66.77%66.83%66.83%66.83%66.83%67.00%67.00%67.00%67.00%
FIIs0.00%0.17%0.10%0.07%0.07%0.00%0.00%0.00%0.08%0.00%0.05%0.01%
DIIs0.00%0.00%0.00%0.00%0.21%0.00%0.00%0.00%0.03%0.30%0.31%0.32%
Public33.27%33.05%33.13%33.16%32.89%33.17%33.17%33.16%32.90%32.71%32.64%32.67%
No. of Shareholders10,39110,3949,0309,05310,0709,8529,7729,7649,76410,1419,7319,792

Fundamentals

Market Cap₹ 452 Cr.
Current Price₹ 384
Stock P/E13.0
Book Value₹ 230
ROCE8.50 %
ROE7.14 %
Dividend Yield0.39 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-1%
Compounded Profit Growth (TTM)96%
Consolidated figures.
Valuation
Market capRs 438 Cr
Enterprise valueRs 632 Cr
P/E (TTM)12.56x
Price to book1.86x
Price to sales0.76x
EV / EBITDA8.20x
EV / EBIT10.83x
EV / sales1.10x
Price to cash flow50.13x
Earnings yield7.96%
Dividend yield0.13%
P/E, 3-year average18.40x
P/B, 3-year average1.35x
P/E, 5-year average13.15x
P/B, 5-year average1.23x
Profitability
Operating margin (excl. other income)4.29%
Operating margin (incl. other income)10.95%
EBITDA margin13.42%
Pre-tax margin8.13%
Net profit margin6.06%
Net margin, latest quarter10.18%
ROE8.83%
ROCE7.33%
ROA3.59%
ROE, 3-year average4.01%
ROCE, 3-year average4.91%
ROA, 3-year average1.94%
ROE, 5-year average7.72%
ROCE, 5-year average8.83%
ROA, 5-year average4.65%
ROIC (approx.)11.85%
Tax rate12.67%
Other income / net worth12.06%
Growth
Sales growth (latest year)-15.52%
Sales CAGR, 3 years14.62%
Sales CAGR, 5 years7.74%
Profit CAGR, 3 years-14.62%
Profit CAGR, 5 years1.84%
Sales growth QoQ31.14%
Profit growth QoQ76.91%
Sales growth YoY (latest quarter)26.04%
Profit growth YoY (latest quarter)508.54%
Per share
EPS (TTM)Rs 29.55
EPS (latest year)Rs 17.01
EPS (latest quarter)Rs 16.31
EPS, 3-year averageRs 7.74
EPS, 5-year averageRs 13.72
Book value per shareRs 199.87
Sales per shareRs 487.40
Cash flow per shareRs 7.41
Free cash flow per shareRs 32.24
Dividend per share (latest year)Rs 0.50
Dividend per share, 3-year averageRs 0.50
Dividend per share, 5-year averageRs 1.60
Dividends
Dividend payout2.94%
Dividend payout, 3-year average3.02%
Dividend payout, 5-year average8.81%
Efficiency
Asset turnover0.75x
Fixed asset turnover1.39x
Inventory turnover4.36x
Inventory days84 days
Debtor days105 days
Debtors turnover3.48x
Creditor days137 days
Cash conversion cycle85 days
Working capital days37 days
Leverage
Total debtRs 197 Cr
Cash and bankRs 3 Cr
Net debtRs 195 Cr
Debt to equity0.84x
Net debt / EBITDA2.52x
Interest coverage4.99x
Owners' fund to total sources41.30%
Debt to assets34.57%
Cash flow
Cash from Operating Activity (latest year)Rs 9 Cr
Cash from Investing Activity (latest year)Rs -13 Cr
Cash from Financing Activity (latest year)Rs 4 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs 38 Cr
FCFE (approx.: FCF + change in debt)Rs 56 Cr
Cash from ops / profit, 5 years2.92x
Sales to cash flow48.82x
Statement figures
Net sales (TTM)Rs 575 Cr
Net sales (latest year)Rs 426 Cr
Sales (latest quarter)Rs 189 Cr
Operating profit excl. other income (latest year)Rs 18 Cr
Operating profit (latest quarter)Rs 32 Cr
Other income (TTM)Rs 6 Cr
EBITDA (TTM)Rs 77 Cr
PBDT (TTM)Rs 65 Cr
Profit before tax (TTM)Rs 47 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 35 Cr
Net profit (latest year)Rs 20 Cr
Net profit (latest quarter)Rs 19 Cr
Depreciation (TTM)Rs 19 Cr
Depreciation (latest quarter)Rs 5 Cr
Interest (TTM)Rs 12 Cr
Cost of goods sold (latest year)Rs 370 Cr
Total expenditure (latest year)Rs 408 Cr
Total income (latest year)Rs 455 Cr
Share capitalRs 12 Cr
ReservesRs 224 Cr
Shareholders' fundsRs 236 Cr
Total assetsRs 570 Cr
Net blockRs 306 Cr
Capital work in progressRs 11 Cr
InvestmentsRs 1 Cr
ReceivablesRs 122 Cr
InventoryRs 85 Cr
Other liabilitiesRs 138 Cr
Shares outstanding (crore)1.18
Ownership
Promoter holding67.00% (+0.17 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 12.6 is at the 22th percentile of its own 5.4-year range (median 17.1, low 8.4, high 33.6).
P/B 1.86 is at the 65th percentile (median 1.69).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodASAHISONGNifty 50Difference
1 week-4.3%-2.8% -1.5 pts
1 month-0.9%-6.8% +5.9 pts
3 months+46.7%-7.6% +54.3 pts
6 months+99.1%+0.4% +98.7 pts
1 year+29.9%-9.9% +39.8 pts
2 years-20.7%-13.6% -7.1 pts
3 years+52.9%+14.2% +38.7 pts
5 years+8.9%+27.9% -19.0 pts

Red flags

F-score 5 of 8
explainReceivables outrunning sales Receivables grew 14% vs sales -16% in 2026
lookProfit leans on other income Other income was 159% of pre-tax profit in 2026
lookOn NSE surveillance On NSE surveillance: ESM
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹189 Cr +26.0% vs Jun 2025. Net profit ₹19 Cr +533.3%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
Sudarshan Chemical Industries Ltd9,53293.95.46 %
Kiri Industries Ltd3,5414.403.40 %
Bodal Chemicals Ltd2,42335.35.59 %
Bhageria Industries Ltd1,64422.111.0 %
Shree Pushkar Chemicals & Fertilizers Ltd1,55521.612.9 %
Ultramarine & Pigments Ltd1,22415.010.1 %
Sudarshan Colorants India Ltd87416.911.4 %
Ushanti Colour Chem Ltd307-1.15 %
AksharChem (India) Ltd29523.80.19 %
Mahickra Chemicals Ltd28855.912.7 %
Poddar Pigments Ltd26817.67.25 %
Ducol Organics & Colours Ltd21729.910.5 %
Hindprakash Industries Ltd13237.75.48 %
Paragon Fine and Speciality Chemical Ltd9410.412.8 %
Unilex Colour & Chemical Ltd425.12%
No bulk or block deals on record.
Ex-dateActionFactor
2026-09-23Dividend - Rs 1.50 Per Share
2025-09-04Dividend - Rs 1.50 Per Share
2024-09-20Annual General Meeting/Dividend - Re 0.50 Per Share
2023-09-21Annual General Meeting/Dividend - Re 0.50 Per Share
2022-09-22Annual General Meeting/Dividend - Rs Per Share
2022-06-02Buyback
2021-09-21 Annual General Meeting/ Dividend Rs 3.50 Per Share
2020-11-19 Buyback
2020-09-22 Annual General Meeting
2020-03-04 Interim Dividend - Rs 3 Per Share
2019-09-19 Annual General Meeting/Dividend - Rs 3 Per Share
2018-09-19 Annual General Meeting/Dividend- Rs 3 Per Share
2017-09-05 Annual General Meeting
2017-03-23 Interim Dividend Rs 3/- Per Share (Purpose Revised)
2016-09-19 Annual General Meeting
2016-03-22 Interim Dividend - Rs 2/- Per Share (Purpose Revised)
2015-09-23 Annual General Meeting/ Dividend - Rs 3.50/- Per Share
2015-02-02Demerger
2014-09-16Annual General Meeting / Final Dividend - Rs 3.50/- Per Share
2013-09-17Annual General Meeting/Dividend Rs 3.50/- Per Share
2012-09-18Annual General Meeting And Dividend Rs.2.25 Per Share
2011-11-16Interim Dividend Rs.1.25 Per Share
DateTypeWhat it says
2026-10-02Shareholder meetingVoting results.
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
ESM: stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03