MarketFriction

Ishan Dyes and chemicals Ltd

NSE ISHANCH · BSE 531109 · Specialty Chemicals
₹47.30 -1.09%
NSE close2026-10-01
52 week range41.71 - 83.37
Market cap₹128 Cr.
Price band 20% Delivery 82.3%

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

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales23.5414.5326.5632.9730.5821.1916.7316.296.7418.6931.7641.48
Expenses22.8515.3522.0831.0428.2019.0816.4314.468.4220.6826.1838.11
Operating Profit0.69-0.824.481.932.382.110.301.83-1.68-1.995.583.37
OPM %2.93%-5.64%16.87%5.85%7.78%9.96%1.79%11.23%-24.93%-10.65%17.57%8.12%
Other Income0.630.870.600.730.930.560.780.440.130.881.711.36
Interest0.680.620.831.121.331.391.291.261.561.332.862.50
Depreciation0.700.700.710.630.620.610.610.610.601.572.072.05
Profit before tax-0.06-1.273.540.911.360.67-0.820.40-3.71-4.012.360.18
Tax %433.33%15.75%-3.95%3.30%2.94%92.54%42.68%27.50%-2.43%30.92%37.71%16.67%
Net Profit-0.32-1.473.680.881.320.05-1.160.30-3.62-5.251.460.16
EPS in Rs-0.15-0.701.760.420.630.02-0.550.14-1.38-2.010.530.06
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales61.4266.6072.1566.8180.1581.7587.4064.6876.65101.4373.4498.67
Expenses55.0755.5566.7259.1569.5964.0372.2563.5473.4194.7269.7093.39
Operating Profit6.3511.055.437.6610.5617.7215.151.143.246.713.745.28
OPM %10.34%16.59%7.53%11.47%13.18%21.68%17.33%1.76%4.23%6.62%5.09%5.35%
Other Income1.181.142.141.262.352.242.602.012.813.003.174.08
Interest0.910.820.801.060.900.721.771.642.755.137.028.25
Depreciation1.411.550.841.271.782.022.222.742.822.474.856.29
Profit before tax5.219.825.936.5910.2317.2213.76-1.230.482.11-4.96-5.18
Tax %25.53%42.97%43.17%34.29%19.84%25.61%26.53%-2.44%77.08%48.82%43.15%
Net Profit3.885.603.364.338.2112.8110.11-1.200.121.09-7.11-7.25
EPS in Rs2.353.412.052.645.148.025.96-0.570.060.52-2.60-2.80
Dividend Payout %9.68%0.00%25.13%0.00%19.45%15.58%0.00%0.00%0.00%0.00%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth2%-2%4%16%
Compounded Profit Growth%%%-1522%
Stock Price CAGR-1%-13%-6%-25%
Return on Equity5%1%-2%-6%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital7.517.5111.2611.2611.2615.9715.9716.9720.9720.9720.9727.30
Reserves10.2213.6515.5017.8622.1938.1849.3268.6781.8081.8482.90114.83
Borrowings4.658.567.089.3012.102.419.6818.7922.4359.4492.0990.28
Other Liabilities11.506.679.849.639.269.9615.209.945.6717.0125.9323.58
Total Liabilities33.8836.3943.6848.0554.8166.5290.17114.37130.87179.26221.89255.99
Fixed Assets12.3012.7212.4819.7926.1228.9730.6736.7662.3464.2762.10163.87
CWIP0.000.000.440.780.000.640.840.430.9629.5671.403.94
Investments0.000.020.020.020.020.020.020.020.020.020.020.02
Other Assets21.5823.6530.7427.4628.6736.8958.6477.1667.5585.4188.3788.16
Total Assets33.8836.3943.6848.0554.8166.5290.17114.37130.87179.26221.89255.99
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3.99-1.093.987.204.982.65-2.32-8.5220.21-9.2611.618.59
Cash from Investing Activity-4.40-1.79-1.69-7.90-6.80-4.65-3.26-8.00-40.54-25.12-39.15-44.81
Cash from Financing Activity0.063.11-2.140.441.772.914.8216.4120.3334.2627.5336.48
Net Cash Flow-0.350.230.16-0.26-0.040.92-0.77-0.120.00-0.11-0.020.26
Free Cash Flow-0.44-2.922.23-0.75-1.84-2.56-6.24-16.42-8.54-42.61-30.53-30.56
CFO/OP175%-12%45%165%83%46%10%-32%1,797%-285%183%234%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days61.1445.5861.0582.3167.3685.89118.72145.3771.89117.7143.1119.13
Inventory Days79.1744.37123.8549.3890.3872.72128.80187.16210.96193.75205.69242.28
Days Payable123.8941.6448.8562.3463.4351.13101.1248.0626.7298.82115.7240.24
Cash Conversion Cycle16.4248.32136.0569.3594.31107.48146.40284.48256.13212.64133.07221.18
Working Capital Days34.2351.8279.9159.2460.21105.97148.32205.26212.41135.38-4.5033.85
ROCE %9.54%23.53%33.48%17.10%18.22%21.68%27.28%17.31%0.27%2.32%4.04%0.96%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters46.95%47.19%47.19%47.19%47.19%47.19%46.73%46.73%37.48%37.48%40.15%40.15%
Public53.05%52.82%52.81%52.82%52.82%52.81%53.27%53.27%62.51%62.53%59.86%59.85%
No. of Shareholders9,4589,3599,7499,4819,4109,5669,3609,3048,7619,0208,6748,487

Fundamentals

Market Cap₹ 128 Cr.
Current Price₹ 46.9
Book Value₹ 52.0
ROCE0.96 %
ROE-5.78 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)16%
Compounded Profit Growth (TTM)-1522%
Standalone figures.
Valuation
Market capRs 129 Cr
Enterprise valueRs 219 Cr
Price to book0.91x
Price to sales1.31x
EV / EBITDA23.40x
EV / EBIT71.35x
EV / sales2.22x
Price to cash flow15.03x
Earnings yield-5.61%
P/E, 3-year average436.17x
P/B, 3-year average0.88x
P/E, 5-year average298.74x
P/B, 5-year average1.30x
Profitability
Operating margin (excl. other income)5.09%
Operating margin (incl. other income)9.41%
EBITDA margin9.49%
Pre-tax margin-5.25%
Net profit margin-7.35%
Net margin, latest quarter0.39%
ROE-5.78%
ROCE0.96%
ROA-2.98%
ROE, 3-year average-1.54%
ROCE, 3-year average2.42%
ROA, 3-year average-0.78%
ROE, 5-year average1.50%
ROCE, 5-year average4.98%
ROA, 5-year average1.31%
ROIC (approx.)1.89%
Tax rate-43.15%
Other income / net worth2.23%
Growth
Sales growth (latest year)-27.60%
Profit growth (latest year)-752.29%
Sales CAGR, 3 years4.32%
Sales CAGR, 5 years-2.12%
Sales growth QoQ30.60%
Profit growth QoQ-89.04%
Sales growth YoY (latest quarter)154.63%
Profit growth YoY (latest quarter)-46.67%
Per share
EPS (TTM)Rs -2.66
EPS (latest year)Rs -2.60
EPS (latest quarter)Rs 0.06
EPS, 3-year averageRs -0.68
EPS, 5-year averageRs 0.67
Book value per shareRs 52.05
Sales per shareRs 36.14
Cash flow per shareRs 3.15
Free cash flow per shareRs -11.19
Efficiency
Asset turnover0.29x
Fixed asset turnover0.45x
Inventory turnover1.75x
Inventory days208 days
Debtor days19 days
Debtors turnover19.08x
Creditor days40 days
Cash conversion cycle221 days
Working capital days34 days
Leverage
Total debtRs 90 Cr
Cash and bankRs 0 Cr
Net debtRs 90 Cr
Debt to equity0.64x
Net debt / EBITDA9.60x
Interest coverage0.37x
Owners' fund to total sources55.52%
Debt to assets35.27%
Cash flow
Cash from Operating Activity (latest year)Rs 9 Cr
Cash from Investing Activity (latest year)Rs -45 Cr
Cash from Financing Activity (latest year)Rs 36 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -31 Cr
FCFE (approx.: FCF + change in debt)Rs -32 Cr
Cash from ops / profit, 5 years7.52x
Sales to cash flow8.55x
Statement figures
Net sales (TTM)Rs 99 Cr
Net sales (latest year)Rs 73 Cr
Sales (latest quarter)Rs 41 Cr
Operating profit excl. other income (latest year)Rs 4 Cr
Operating profit (latest quarter)Rs 3 Cr
Other income (TTM)Rs 4 Cr
EBITDA (TTM)Rs 9 Cr
PBDT (TTM)Rs 1 Cr
Profit before tax (TTM)Rs -5 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs -7 Cr
Net profit (latest year)Rs -7 Cr
Net profit (latest quarter)Rs 0 Cr
Depreciation (TTM)Rs 6 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 8 Cr
Cost of goods sold (latest year)Rs 59 Cr
Total expenditure (latest year)Rs 70 Cr
Total income (latest year)Rs 77 Cr
Share capitalRs 27 Cr
ReservesRs 115 Cr
Shareholders' fundsRs 142 Cr
Total assetsRs 256 Cr
Net blockRs 164 Cr
Capital work in progressRs 4 Cr
InvestmentsRs 0 Cr
ReceivablesRs 4 Cr
InventoryRs 34 Cr
Other liabilitiesRs 24 Cr
Shares outstanding (crore)2.73
Ownership
Promoter holding40.15% (-6.58 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 0.91 is at the 1th percentile (median 2.05).
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.
PeriodISHANCHNifty 50Difference
1 week-5.2%-2.8% -2.4 pts
1 month+7.0%-6.8% +13.8 pts
3 months-17.6%-7.6% -9.9 pts
6 months+0.5%+0.4% +0.1 pts
1 year-23.6%-9.9% -13.7 pts
3 years-16.6%+14.2% -30.8 pts
5 years-51.3%+27.9% -79.2 pts

Red flags

F-score 3 of 8
explainShare dilution Share count up 30% in a year, 30% in three
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 ₹41 Cr +154.6% vs Jun 2025. Net profit ₹0 Cr -46.7%.
Against our estimate for Jun 2026: sales +83.2%, profit +105.4% beat. Our estimate for Sep 2026: sales Rs 11 Cr, profit Rs -1 Cr (how).

Activity

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No bulk or block deals on record.
No corporate actions on record.
DateTypeWhat it says
2026-10-01Shareholder meetingVoting results.
2026-09-29Shareholder meetingProceedings of Annual General Meeting held on September 29, 2026
2026-09-03Shareholder meetingNotice of Annual General Meeting to be held on September 29, 2026
2026-08-14Board meeting outcomeIshan Dyes and Chemicals Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-31General UpdatesCommencement of Work for Four Additional Sulphur-Based Products in the Sulphuric Acid Unit.
2026-07-01General UpdatesGeneral Updates - Proposal For Exclusive Dealership For Suplur Based Products.
2026-06-25Reply to Clarification- FinaThe Exchange had sought clarification from Ishan Dyes and Chemicals Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEB...
2026-06-25General UpdatesRevised Financial Results for the Quarter and the Financial Year ended 31st March 2026 (Inserting Balancing Figure Note as per SEBI).
2026-06-24Clarification - Financial ReThe Exchange has sought clarification from Ishan Dyes and Chemicals Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEB...
2026-06-22General UpdatesRevised Financial Results for the Quarter and the Financial Year ended 31st March 2026 (Inserting Statement of Impact of Audit Qualifications).
2026-06-12General UpdatesAdvisory Letter issued by National Stock Exchange of India Limited.
2026-05-29General UpdatesAnnual Secretarial Compliance Report.
2026-05-28Utilisation of FundsUtilisation of Funds from Preferential Issue
2026-05-28Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
2026-05-28AppointmentAppointment of M/s H D Panchal & Co as Internal Auditor of the company w.e.f. May 28, 2026.
2026-05-28Board meeting outcomeIshan Dyes and Chemicals Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-05Disclosure under SEBI TakeovShrinal Piyushbhai Patel has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Subs...
2026-05-01Shareholder meetingVoting results.
2026-04-28UpdatesNon- applicability as a Large Corporate.
2026-03-30Shareholder meetingNotice of Postal Ballot
2026-03-28AllotmentAllotment of 740700 Equity Shares pursuant to Preferential Issue at its meeting held on March 28, 2026
2026-03-28Board meeting outcomeOutcome of Board Meeting held on March 28, 2026.
2026-03-21Change in ManagementResignation and Appointment of Internal Auditor.
2026-03-21AllotmentAllotment of 423280 Equity Shares pursuant to Preferential Issue at its meeting held on March 21, 2026
2026-03-21Board meeting outcomeOutcome of Board Meeting held on March 21, 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.
EPS in the scrip is zero (4 trailing quarters)Less than 100 unique PAN traded in previous 30 days

Quick answers

What is the market cap of Ishan Dyes and chemicals Ltd?

Ishan Dyes and chemicals Ltd (ISHANCH) has a market capitalisation of Rs 128 Cr. at the 2026-10-01 close.

What were Ishan Dyes and chemicals Ltd's latest quarterly results?

In the Jun 2026 quarter, Ishan Dyes and chemicals Ltd sales was Rs 41 Cr (+154.6% vs Jun 2025) and net profit was Rs 0 Cr.

What is the 52-week high and low of Ishan Dyes and chemicals Ltd?

The 52-week high is Rs 83.37 and the 52-week low is Rs 41.71.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03