Ishan Dyes And Chemicals Limited (ISHANCH)

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Ishan Dyes And Chemicals Limited (ISHANCH) · mywealthgrid

About

Ishan Dyes And Chemicals Limited operates in Specialty Chemicals within the Materials sector.

Face value: ₹10

Market cap

₹129 Cr

P/E

—

P/B

0.9×

Dividend yield

ROE

-5.8%

ROCE

1.3%

Debt / equity

0.64

OPM

5.1%

EPS (TTM)

₹-2.7

Book value

₹52.1

52-week high

—

52-week low

—

2,169 historical price candles were omitted because the exchange source has not been verified.

₹47.3-0.1%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of -2% (3-yr avg)
−Thin operating margin of 5.1%
−Revenue shrank over the last 5 years (-1.7% a year)
−Weak interest coverage of 0.3×
−Promoter holding fell 6.6 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

32/100

Business quality: 14
Growth: 33
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Gujarat Fluorochemicals LimitedFLUOROCHEMFLUOROCHEM	₹47,713 Cr	₹49,912 Cr	₹5,303 Cr	₹1,375 Cr	25.8%	₹615 Cr	11.5%	11.1%	7.6%	401
Navin Fluorine International LimitedNAVINFLUORNAVINFLUOR	₹41,740 Cr	₹42,967 Cr	₹3,634 Cr	₹1,232 Cr	32.6%	₹790 Cr	20%	21.6%	20.1%	61
Aether Industries LimitedAETHERAETHER	₹22,161 Cr	₹22,603 Cr	₹1,224 Cr	₹384 Cr	31.3%	₹235 Cr	19.8%	13.2%	9.4%	330
Atul LimitedATULATUL	₹17,231 Cr	₹17,411 Cr	₹6,643 Cr	₹1,189 Cr	16.4%	₹704 Cr	11%	14.1%	11.5%	70
Aarti Industries LimitedAARTIINDAARTIIND	₹16,869 Cr	₹21,790 Cr	₹9,012 Cr	₹1,337 Cr	14.1%	₹531 Cr	5.1%	8.8%	7.3%	54
Fine Organic Industries LimitedFINEORGFINEORG	₹15,752 Cr	₹15,797 Cr	₹2,472 Cr	₹535 Cr	20.4%	₹438 Cr	17.6%	21.6%	16.8%	113
Basf India LimitedBASFBASF	₹14,796 Cr	₹14,796 Cr	₹16,177 Cr	₹952 Cr	4.4%	₹643 Cr	2.8%	14%	11.1%	40
Privi Speciality Chemicals LimitedPRIVISCLPRIVISCL	₹13,970 Cr	₹14,980 Cr	₹2,671 Cr	₹666 Cr	25.2%	₹342 Cr	12.4%	27.7%	25.2%	158
Sudeep Pharma LimitedSUDEEPPHRMSUDEEPPHRM	₹13,546 Cr	₹13,694 Cr	₹676 Cr	₹233 Cr	34.6%	₹133 Cr	27.1%	31.1%	25.2%	366
Anupam Rasayan India LimitedANURASANURAS	₹13,243 Cr	₹15,058 Cr	₹2,535 Cr	₹563 Cr	22.2%	₹175 Cr	9.4%	9.1%	5.5%	377
Vinati Organics LimitedVINATIORGAVINATIORGA	₹12,528 Cr	₹12,528 Cr	₹2,381 Cr	₹665 Cr	29.4%	₹448 Cr	19.9%	18.8%	14.9%	152
Elantas Beck India LimitedELANTASELANTAS	₹10,644 Cr	₹10,644 Cr	₹778 Cr	₹147 Cr	20.3%	₹136 Cr	17.4%	20.6%	15.8%	70

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2025	Mar 2026
	63	67	72	67	80	82	87	65	101	73
COGS	-34	-22	-45	-38	-45	38	45	40	63	51
Gross profit	—	—	—	—	—	43	42	25	38	23
	89	78	112	98	115	26	27	24	32	19
	8	11	5	7	10	18	15	1	7	4
OPM %	12%	16.6%	7.5%	10.7%	12.8%	21.5%	17.3%	1.7%	6.6%	5.1%
Depreciation	1	2	1	1	2	2	2	3	2	5
Interest	1	—	1	1	1	1	2	2	5	7
	—	—	2	2	2	2	3	2	3	3
Profit before tax	5	10	6	7	10	17	14	-1	2	-5
Tax	1	4	—	2	2	4	4	-0	1	2
Tax %	27.3%	42.9%	—	34.5%	19.1%	25.7%	26.5%	-2.4%	48.6%	43.4%
	4	6	3	4	8	13	10	-1	1	-7
PAT margin %	5.7%	8.4%	4.7%	6.5%	10.3%	15.7%	11.6%	-1.9%	1.1%	-9.7%
EPS (₹)	4.7	7.2	3	3.9	5.8	8	6.3	-0.7	0.5	-6
EPS adjusted (₹)	—	—	—	—	5.2	8	6	-0.6	0.5	-2.6
	10.6%	0%	25%	0%	17.3%	0%	19.8%	—	0%	—
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	16	16	17	21	21	21	27
Reserves	—	49	69	82	82	83	115
	—	9	17	21	59	92	90
	—	16	12	7	17	26	24
Total equity & liabilities	—	90	114	131	179	222	256
	29	31	37	62	64	62	164
CWIP	—	0	0	1	29	71	4
Investments	—	0	0	0	0	0	0
	—	59	78	68	86	89	89
Total assets	—	90	114	131	179	222	256

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	53.1%	48%	38.2%	37.9%	30.7%
EBITDA margin %	7.5%	10.7%	12.8%	21.5%	17.3%	1.7%	6.6%	5.1%
EBIT margin %	6.4%	8.8%	10.6%	19.1%	14.8%	-2.5%	4.2%	-1.5%
PAT margin %	4.7%	6.5%	10.3%	15.7%	11.6%	-1.9%	1.1%	-9.7%
Working capital
Receivable days	—	—	—	119	145	72	43	19
Inventory days	—	—	—	129	187	211	206	242
Payable days	—	—	—	101	48	27	116	40
NWC days	—	—	—	146	284	256	133	221
Leverage
Current ratio	—	—	—	2.52	2.99	2.47	0.99	1.09
Debt to EBITDA	—	—	—	0.52	1.12	18.98	13.71	24.14
Debt to equity	—	—	—	0.14	0.2	0.21	0.89	0.64
Interest coverage	7.8	8.1	18.4	30.2	8.8	0.2	1.4	0.3
Asset turnover	—	—	—	0.91	0.76	0.49	0.46	0.29
Return ratios
Return on assets %	—	—	—	14.2%	8.8%	-0.9%	0.5%	-2.8%
Return on capital employed %	—	—	—	26.2%	19.7%	0.4%	5.8%	1.3%
Return on equity %	—	—	—	19.6%	11.8%	-1.2%	1%	-5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	46.95%	47.19%	47.19%	47.19%	47.19%	47.19%	46.73%	46.73%	37.48%	37.48%	40.15%	40.15%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	53.05%	52.81%	52.81%	52.81%	52.81%	52.81%	53.27%	53.27%	62.52%	62.52%	59.85%	59.85%
No. of shareholders	—	—	—	—	—	—	—	—	8,761	9,020	8,674	8,487

Promoter holding down 6.8 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
Piyushbhai Natvarlal PatelPromoters	BuyPreferential Offer	22,92,436	₹14.44 cr	0.00% → 50.00%	22 Sept 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

26 deals · 8 Nov 2021 – 19 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
19 Aug 2026	ORION STOCKS LTD	Bulk	NSE	Sell	1,48,864	₹48.05	₹0.72 Cr
19 Aug 2026	ORION STOCKS LTD	Bulk	NSE	Buy	1,47,322	₹48.01	₹0.71 Cr
19 Aug 2026	ORION STOCKS LTD	Bulk	BSE	Sell	1,40,165	₹48.26	₹0.68 Cr
19 Aug 2026	ORION STOCKS LTD	Bulk	BSE	Buy	1,31,282	₹47.92	₹0.63 Cr
10 Oct 2025	PARU SECURITIES PVT.LTD.	Bulk	NSE	Sell	1,23,500	₹81.58	₹1.01 Cr
10 Oct 2025	PARU SECURITIES PVT.LTD.	Bulk	NSE	Buy	1,23,500	₹80.92	₹1.00 Cr
25 Jul 2023	SERAPHIM VENTURES PRIVATE LIMITED	Bulk	BSE	Sell	3,60,380	₹54.96	₹1.98 Cr
25 Jul 2023	STANDARD GREASES AND SPECIALITIES PRIVATE LIMITED	Bulk	BSE	Buy	2,00,000	₹55.50	₹1.11 Cr
22 May 2023	SERAPHIM VENTURES PRIVATE LIMITED	Bulk	BSE	Sell	1,48,903	₹65.33	₹0.97 Cr
18 May 2023	SERAPHIM VENTURES PRIVATE LIMITED	Bulk	BSE	Sell	3,00,000	₹63.00	₹1.89 Cr

1–10 of 26

1 / 3

Mr. DARSHAN BIPINCHANDRA SHAHNon-Executive - Independent Director-Chairperson
Mr. PIYUSHBHAI NATVARLAL PATELExecutive Director-MD
Mr. SHRINAL P PATELExecutive Director
Mr. Chintan Prakashbhai PancholiChief Financial Officer
Mrs. MIRALI HEMANTBHAI PATELExecutive Director
Mrs. APEXA AJAYKUMAR PANCHALNon-Executive - Independent Director
Mr. NIRMAL TIWARINon-Executive - Independent Director
Ms. Vidushi JainCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Ishan Dyes And Chemicals Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

4

Interim dividend29 Apr 2021 · ex-date₹1.25
Final dividend27 Aug 2020 · ex-date₹1
Interim dividend8 Mar 2018 · ex-date₹0.75
Dividend dividend20 Sept 2016 · ex-date₹0.5

1

Board meeting to consider results14 Aug 2026

1

Bonus 1:214 Feb 2017 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

29 announcementsExport CSV

1 Oct 2026, 10:49 amAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

29 Sept 2026, 5:01 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

4 Sept 2026, 2:29 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

3 Sept 2026, 1:25 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

3 Sept 2026, 1:21 pmAGM/EGM

Notice Of 33Rd Annual General Meeting Dated 29Th September, 2026.

AGM PDF

22 Aug 2026, 3:15 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

17 Aug 2026, 3:51 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

14 Aug 2026, 8:02 pmResult

Financial Results For Quarter Ended 30Th June 2026.

Financial Results PDF

Date	Category	Subject	Filing
1 Oct 2026, 10:49 am	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
29 Sept 2026, 5:01 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM

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Ratio	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	53.1%	48%	38.2%	37.9%	30.7%
EBITDA margin %	7.5%	10.7%	12.8%	21.5%	17.3%	1.7%	6.6%	5.1%
EBIT margin %	6.4%	8.8%	10.6%	19.1%	14.8%	-2.5%	4.2%	-1.5%
PAT margin %	4.7%	6.5%	10.3%	15.7%	11.6%	-1.9%	1.1%	-9.7%
Working capital
Receivable days	—	—	—	119	145	72	43	19
Inventory days	—	—	—	129	187	211	206	242
Payable days	—	—	—	101	48	27	116	40
NWC days	—	—	—	146	284	256	133	221
Leverage
Current ratio	—	—	—	2.52	2.99	2.47	0.99	1.09
Debt to EBITDA	—	—	—	0.52	1.12	18.98	13.71	24.14
Debt to equity	—	—	—	0.14	0.2	0.21	0.89	0.64
Interest coverage	7.8	8.1	18.4	30.2	8.8	0.2	1.4	0.3
Asset turnover	—	—	—	0.91	0.76	0.49	0.46	0.29
Return ratios
Return on assets %	—	—	—	14.2%	8.8%	-0.9%	0.5%	-2.8%
Return on capital employed %	—	—	—	26.2%	19.7%	0.4%	5.8%	1.3%
Return on equity %	—	—	—	19.6%	11.8%	-1.2%	1%	-5%

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-2	-9	20	-9	12	9
	-3	-8	-41	-25	-39	-45
	5	16	20	34	28	36
Net cash flow	-1	-0	0	-0	-0	0
Free cash flow	-6	-16	-9	—	-31	-31
CFO / Operating profit %	-13.2%	-56.3%	—	—	172.8%	229.7%

Ishan Dyes And Chemicals Limited

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Dividends4

Board meetings1

Bonus issues1

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Dividends4

Board meetings1

Bonus issues1

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

4

1

1

4

1

1