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Resonance Specialties Ltd (RESONANCE) · mywealthgrid

Resonance Specialties Ltd

BSE:RESONANCE

MaterialsChemicals & Petrochemicals

₹197.1

+3.19%1 Oct close

Mkt cap

₹227 Cr

Watch Alert Compare

About

Resonance Specialties Ltd operates in specialty chemicals within the Materials sector with market capitalisation of ₹199 Cr. Recent quarterly revenues average around ₹17 Cr, and the company has attracted significant investor interest with a 1-year return of 69.24%, trading near 52-week highs (₹173.05 of ₹181.75 range).

Face value: ₹10

Market cap

₹227 Cr

P/E

21.8×

P/B

3.1×

Dividend yield

ROE

15.2%

ROCE

19.9%

Debt / equity

0.03

OPM

15.5%

EPS (TTM)

₹9.0

Book value

₹63.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Revenue and margin volatility: recent quarters show ₹10.77–₹22.14 Cr revenue and OPM 7.33–24.17%, making sustainable profitability hard to assess
Margin compression unexplained: OPM fell from 24.17% (Sep 2020) to 13.62% (current) — verify whether driven by cost pressures, pricing loss, or operational issues
Valuation appears stretched: PE 19.17 on ROE 10.81% implies market expects earnings or margin recovery — verify basis for expectations
Institutional confidence gap: FII 0%, DII 1.55% — identify why institutional investors remain absent

Generated analysis · source review pending

Growth drivers

Very low leverage (D/E 0.03) provides financial capacity for expansion or acquisitions — verify if management has growth investments planned
Margin recovery potential: OPM compressed from 24.17% (Sep 2020) to 13.62% — verify root cause and whether operational improvements can restore prior levels
Dividend history (6 recent payments) indicates cash available for reinvestment — verify capex plans and growth initiatives

Generated analysis · source review pending

2,158 historical price candles were omitted because the exchange source has not been verified.

₹197.1+6%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 59.6×

Cons

−Low return on equity of 10.4% (3-yr avg)
−Profit declined 0.2% a year over the last 5 years
−Modest revenue growth of 5.1% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

72/100

Business quality: 65
Growth: 88
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 2024	Mar 2025	Mar 2026
	39	34	37	42	56	70	76	59	55	78	90
COGS	-11	-12	-23	-18	-21	26	25	13	25	31	40
Gross profit	—	—	—	—	—	44	51	45	31	47	51
	47	44	59	55	69	30	34	39	26	36	37
	3	2	1	5	8	14	17	7	5	11	14
OPM %	7.9%	6%	1.9%	11.7%	13.8%	20.3%	22.1%	11.6%	8.7%	13.6%	15.5%
Depreciation	1	1	1	1	1	1	2	1	1	2	1
Interest	1	0	1	1	0	0	0	0	0	0	0
	—	—	1	1	2	2	1	2	1	0	2
Profit before tax	2	1	0	5	7	15	16	7	4	9	14
Tax	0	-0	1	2	1	4	4	2	1	2	4
Tax %	30.5%	-26.6%	1,266.7%	32.6%	20.5%	27.8%	24.1%	27%	25.3%	26%	26.2%
	1	2	-1	3	6	11	12	5	3	7	10
PAT margin %	2.8%	5.1%	-1.9%	7.7%	9.8%	15%	16.3%	8.5%	5.4%	8.4%	11.5%
EPS (₹)	0.9	1.5	-0.7	2.8	4.7	8.7	10.6	4.4	2.6	5.7	9
EPS adjusted (₹)	—	—	—	—	4.8	9.1	10.7	4.3	2.6	5.7	9
	0%	0%	—	0%	21.1%	11.5%	9.4%	22.9%	0%	17.7%	11.1%
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 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	12	12	12	12	12	12	12
Reserves	—	29	40	44	46	52	62
Minority interest	—	—	—	—	0	—	0
	—	1	0	2	4	3	2
	5	13	5	8	12	8	17
Total equity & liabilities	17	55	57	66	74	76	92
	14	16	14	20	23	21	21
CWIP	—	0	0	0	0	1	4
Investments	—	1	0	0	3	0	12
	2	38	42	45	48	54	57
Total assets	17	55	57	66	74	76	92

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Ratios

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

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	63%	67.6%	77.2%	55.2%	60.5%	56.2%
EBITDA margin %	11.7%	13.8%	20.3%	22.1%	11.6%	8.7%	13.6%	15.5%
EBIT margin %	9.5%	12.2%	18.9%	19.8%	9.1%	6.1%	11.6%	14%
PAT margin %	7.7%	9.8%	15%	16.3%	8.5%	5.4%	8.4%	11.5%
Working capital
Receivable days	—	—	49	40	77	88	105	56
Inventory days	—	—	233	173	631	337	312	317
Payable days	—	—	119	17	134	132	65	112
NWC days	—	—	163	196	573	292	352	261
Leverage
Current ratio	—	—	3.12	12.52	6.7	4.32	6.75	4.12
Debt to EBITDA	—	—	0.04	0	0.33	0.85	0.29	0.15
Debt to equity	—	—	0.01	0	0.04	0.07	0.05	0.03
Interest coverage	9.9	25	51.2	233.6	63.3	13.4	28.6	59.6
Asset turnover	—	3.39	1.29	1.33	0.89	0.75	1.03	0.98
Return ratios
Return on assets %	—	33.3%	19.3%	21.8%	7.6%	4%	8.7%	11.2%
Return on capital employed %	—	—	34.9%	34.1%	12.4%	7%	15.4%	19.9%
Return on equity %	—	—	25.9%	23.9%	9%	5.2%	10.3%	14.2%

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
	54.25%	54.25%	54.25%	54.25%	54.25%	54.25%	54.25%	54.25%	54.25%	54.25%	54.25%	54.25%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	1.55%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	45.72%	45.72%	45.72%	45.72%	45.72%	45.72%	45.72%	45.72%	45.72%	45.72%	45.72%	44.2%
No. of shareholders	—	—	—	—	—	—	—	—	11,810	11,512	11,272	10,998

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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 Resonance Specialties Ltd. 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

Credit ratings

Disclosure in terms of Regulation 30 of SEBI (LODR), 2015 regarding ratings assigned by CRISIL26 Aug 2026 from CRISIL

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

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Events

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

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

2 announcementsExport CSV

21 Sept 2026, 2:42 pmAGM/EGM

Resonance Specialties Ltd-$ - 524218 - Shareholder Meeting / Postal Ballot-Scrutinizer"s Report

Postal Ballot PDF

18 Sept 2026, 1:11 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

Date	Category	Subject	Filing
21 Sept 2026, 2:42 pm	AGM/EGM Postal Ballot	Resonance Specialties Ltd-$ - 524218 - Shareholder Meeting / Postal Ballot-Scrutinizer"s Report	PDF
18 Sept 2026, 1:11 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	63%	67.6%	77.2%	55.2%	60.5%	56.2%
EBITDA margin %	11.7%	13.8%	20.3%	22.1%	11.6%	8.7%	13.6%	15.5%
EBIT margin %	9.5%	12.2%	18.9%	19.8%	9.1%	6.1%	11.6%	14%
PAT margin %	7.7%	9.8%	15%	16.3%	8.5%	5.4%	8.4%	11.5%
Working capital
Receivable days	—	—	49	40	77	88	105	56
Inventory days	—	—	233	173	631	337	312	317
Payable days	—	—	119	17	134	132	65	112
NWC days	—	—	163	196	573	292	352	261
Leverage
Current ratio	—	—	3.12	12.52	6.7	4.32	6.75	4.12
Debt to EBITDA	—	—	0.04	0	0.33	0.85	0.29	0.15
Debt to equity	—	—	0.01	0	0.04	0.07	0.05	0.03
Interest coverage	9.9	25	51.2	233.6	63.3	13.4	28.6	59.6
Asset turnover	—	3.39	1.29	1.33	0.89	0.75	1.03	0.98
Return ratios
Return on assets %	—	33.3%	19.3%	21.8%	7.6%	4%	8.7%	11.2%
Return on capital employed %	—	—	34.9%	34.1%	12.4%	7%	15.4%	19.9%
Return on equity %	—	—	25.9%	23.9%	9%	5.2%	10.3%	14.2%

2 deals · 15 May 2026 – 20 May 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
20 May 2026	129 WEALTH FUND	Bulk	BSE	Buy	58,000	₹136.79	₹0.79 Cr
15 May 2026	129 WEALTH FUND	Bulk	BSE	Buy	59,431	₹120.06	₹0.71 Cr

1–2 of 2

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4	13	-8	4	-3	17
	-1	-9	3	-7	2	-15
	0	-2	1	0	-1	-2
Net cash flow	3	3	-4	-2	-2	-0
Free cash flow	3	13	-16	-0	-4	14
CFO / Operating profit %	30%	79.6%	-122.7%	86.5%	-23.7%	123.6%

Resonance Specialties Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Events

Announcements

No fund holdings on record

Not in the F&O segment

8

1

Announcements

Annual reports

Credit ratings

Compounded sales growth

Compounded profit growth

Return on equity

Resonance Specialties Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Events

Announcements

No fund holdings on record

Ratio timeline

Not in the F&O segment

Quarterly record

Dividends8

Board meetings1

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

8

1