Sadhana Nitrochem Limited (SADHNANIQ)

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Sadhana Nitrochem Limited (SADHNANIQ) · mywealthgrid

About

Sadhana Nitrochem operates in commodity chemicals, capital-intensive Materials segment with market cap of ₹930.92 Crores. Recent operations show recovery (Jun 2026: ₹26–27 Cr revenue, 8–9% OPM) but net losses persist; share price down 51.54% year-over-year reflects investor skepticism.

Face value: ₹1

Market cap

₹732 Cr

P/E

—

P/B

1.6×

Dividend yield

6.1%

ROE

-23.5%

ROCE

-12.8%

Debt / equity

0.24

OPM

-106.8%

EPS (TTM)

₹-0.3

Book value

₹1.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Persistent net losses (₹0.4–33.83 Cr per quarter) despite recent operational improvements; negative ROE (-23.52%) and overall OPM (-106.8%)
Revenue and margin volatility: Jun 2026 shows ₹26–27 Cr and 8–9% OPM, but Sep 2025 was ₹0.26–2.7 Cr and -628% OPM, indicating operational instability
Stock devaluation with 52-week range ₹1.33–₹11.08 and minimal institutional participation (FII 0.04%, DII 0.04%)
Rights issue in Feb 2026 signals capital strain; verify impact of dilution and whether raised capital enables sustainable operations

Generated analysis · source review pending

Growth drivers

Jun 2026 operational recovery (₹26–27 Cr revenue, 8–9% OPM) vs Sep 2025 nadir (₹0.26–2.7 Cr, -628% OPM); verify if production scale reaches net profitability
Rights issue capital (Feb 2026) may have enabled production ramp evident in Jun 2026; verify deployment to operations or capex
Moderate leverage (D/E 0.24) allows additional financing for turnaround without over-stretch

Generated analysis · source review pending

1,603 historical price candles were omitted because the exchange source has not been verified.

₹2.5-2.7%1Y

Quick read

rule-based

Pros

+Dividend yield of 6.1%
+High promoter holding of 60.9% with no pledge

Cons

−Low return on equity of -6.2% (3-yr avg)
−Revenue shrank over the last 3 years (-29.8% a year)
−Weak interest coverage of -2.3×

Research score

Structured signal from quality, growth, valuation and momentum.

39/100

Business quality: 18
Growth: 3
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
Deepak Fertilizers And Petrochemicals Corporation LimitedDEEPAKFERTDEEPAKFERT	₹16,417 Cr	₹21,903 Cr	₹12,104 Cr	₹2,016 Cr	14.6%	₹984 Cr	6.4%	12.6%	11.3%	55
Tata Chemicals LimitedTATACHEMTATACHEM	₹15,487 Cr	₹23,488 Cr	₹15,120 Cr	₹1,711 Cr	12.4%	₹-2,165 Cr	-11.8%	2.9%	-8.9%	113
Gujarat Narmada Valley Fertilizers And Chemicals LimitedGNFCGNFC	₹8,655 Cr	₹8,655 Cr	₹8,410 Cr	₹1,241 Cr	11.3%	₹1,037 Cr	10.4%	10.6%	9.1%	81
TANFAC Industries LtdTANFACINDTANFACIND	₹6,909 Cr	₹7,002 Cr	₹711 Cr	₹112 Cr	15.8%	₹70 Cr	9.9%	27.7%	20.5%	112
Gujarat Alkalies And Chemicals LimitedGUJALKALIGUJALKALI	₹4,430 Cr	₹4,998 Cr	₹4,498 Cr	₹510 Cr	9.3%	₹66 Cr	-0.1%	1.6%	-0%	25
Grauer & Weil India LimitedGRAUWEILGRAUWEIL	₹3,709 Cr	₹3,717 Cr	₹1,134 Cr	₹188 Cr	16.6%	₹69 Cr	13.9%	23%	18%	72
Ghcl LimitedGHCLGHCL	₹3,700 Cr	₹3,762 Cr	₹3,064 Cr	₹689 Cr	22.5%	₹472 Cr	15.4%	17%	13.4%	126
J.g.chemicals LimitedJGCHEMJGCHEM	₹2,392 Cr	₹2,399 Cr	₹1,071 Cr	₹96 Cr	8.4%	₹75 Cr	7.1%	18.2%	13.3%	101
Thirumalai Chemicals LimitedTIRUMALCHMTIRUMALCHM	₹1,764 Cr	₹3,857 Cr	₹1,832 Cr	₹20 Cr	-2%	₹-152 Cr	-9.7%	-3.3%	-12.3%	14
Ig Petrochemicals LimitedIGPLIGPL	₹1,754 Cr	₹2,110 Cr	₹2,073 Cr	₹207 Cr	4.9%	₹82 Cr	0.1%	3.2%	0.2%	23
Indo Borax & Chemicals LimitedINDOBORAXINDOBORAX	₹1,507 Cr	₹1,507 Cr	₹232 Cr	₹52 Cr	20.5%	₹56 Cr	23.3%	15.5%	15.1%	110
Innovassynth Technologies (India) LtdINOVSYNTHINOVSYNTH	₹1,462 Cr	₹1,466 Cr	₹0 Cr	₹-0 Cr	—	₹-5 Cr	—	-1.1%	-12%	—

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Financials

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

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	132	143	190	166	50
COGS	74	70	85	63	56
Gross profit	58	73	105	103	-6
	43	52	64	61	47
	15	21	41	42	-53
OPM %	11.1%	14.8%	21.6%	25.6%	-106.8%
Depreciation	6	8	15	15	16
Interest	5	10	17	18	26
	5	2	4	2	9
Profit before tax	9	6	13	12	-87
Tax	3	2	9	4	-1
Tax %	30.2%	44.1%	68.2%	34.3%	-1%
	6	3	4	8	-86
PAT margin %	4.7%	2.2%	2.2%	4.6%	-174%
EPS (₹)	—	0.2	0.2	0.2	-2
EPS adjusted (₹)	0.3	0.1	0.2	0.2	-0.3
	—	93.8%	88.2%	0%	—
Annual report	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	14	20	20	25	33	296
Reserves	—	141	206	202	248	158
	—	106	132	221	235	109
	—	120	108	84	121	95
Total equity & liabilities	—	386	466	532	637	658
	72	75	144	156	156	161
CWIP	—	65	25	53	100	78
Investments	—	7	6	6	3	0
	—	239	292	317	378	419
Total assets	—	386	466	532	637	658

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-5	-38	-2	48	-29
	-39	-53	-65	-89	-46
	46	72	41	25	93
Net cash flow	2	-19	-26	-16	18
Free cash flow	-43	-80	-68	-46	-93
CFO / Operating profit %	-32.2%	-178.1%	-5.8%	113%	—

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	43.9%	51.1%	55.5%	62.2%	-12.4%
EBITDA margin %	11.1%	14.8%	21.6%	25.6%	-106.8%
EBIT margin %	6.5%	9.5%	13.8%	16.4%	-139.7%
PAT margin %	4.7%	2.2%	2.2%	4.6%	-174%
Working capital
Receivable days	113	167	242	270	977
Inventory days	497	604	495	789	641
Payable days	219	174	143	282	314
NWC days	392	596	594	776	1,304
Leverage
Current ratio	1.23	1.57	1.68	1.39	1.8
Debt to EBITDA	7.22	6.21	5.37	5.55	—
Debt to equity	0.66	0.58	0.97	0.84	0.24
Interest coverage	2.9	1.6	1.7	1.7	-2.3
Asset turnover	0.34	0.31	0.36	0.26	0.08
Return ratios
Return on assets %	1.6%	0.7%	0.8%	1.2%	-13.1%
Return on capital employed %	6.5%	6.1%	9%	7.1%	-12.8%
Return on equity %	3.9%	1.4%	1.8%	2.7%	-19%

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
	71.12%	65.81%	65.65%	65.48%	65.47%	65.11%	64.9%	56.73%	29.97%	29.97%	60.9%	60.9%
	0%	0%	0.05%	0%	0%	0%	0.05%	0.04%	0.04%	0.14%	0%	0.04%
	0.02%	0.05%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.07%	0.07%	0.01%	0.04%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	28.86%	34.14%	34.28%	34.5%	34.51%	34.87%	35.03%	43.21%	69.92%	69.82%	39.09%	39.02%
No. of shareholders	—	—	—	—	—	—	—	—	63,144	64,258	68,448	75,881

Promoter holding down 10.22 percentage points since Sep 2023.

59 deals · 29 Sept 2023 – 27 Mar 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
27 Mar 2026	NIRAJ BAJAJ	Bulk	BSE	Buy	14,75,00,000	₹1.30	₹19.18 Cr
27 Mar 2026	ABHISHEK ASIT JAVERI	Bulk	BSE	Sell	7,38,00,000	₹1.30	₹9.59 Cr
27 Mar 2026	ASIT DHANKUMAR JAVERI	Bulk	BSE	Sell	7,26,98,864	₹1.30	₹9.45 Cr
25 Mar 2026	ANKITA VISHAL SHAH	Bulk	NSE	Buy	2,04,31,864	₹1.33	₹2.72 Cr
25 Mar 2026	ANKITA VISHAL SHAH	Bulk	NSE	Sell	1,19,85,111	₹1.38	₹1.65 Cr
24 Feb 2026	MANSI SHARE AND STOCK BROKING PRIVATE LIMITED	Bulk	NSE	Sell	21,78,943	₹2.30	₹0.50 Cr
1 Sept 2025	NEO APEX VENTURE LLP	Bulk	NSE	Sell	19,00,000	₹8.82	₹1.68 Cr
1 Sept 2025	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	18,97,011	₹8.82	₹1.67 Cr
25 Aug 2025	NEO APEX VENTURE LLP	Bulk	NSE	Sell	24,00,000	₹7.26	₹1.74 Cr
25 Aug 2025	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	BSE	Sell	17,57,699	₹7.39	₹1.30 Cr

1–10 of 59

1 / 6

Mr. ASIT DHANKUMAR JAVERIExecutive Director-Chairperson
Mr. ABHISHEK ASIT JAVERIExecutive Director-MD
Mrs. SEEMA ASIT JAVERIExecutive Director
Mr. PRIYAM SHANTILAL JHAVERINon-Executive - Non Independent Director
Mr. MUKUL SUNILKUMAR MEHRANon-Executive - Independent Director
Mr. NAYAN MOHANBHAI PATELNon-Executive - Independent Director
Mr. TEJ MAYUR CONTRACTORNon-Executive - Independent Director
Mrs. SINDHU SUNEER KOTIANNon-Executive - Independent Director
Nitin JaniCompany 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

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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 Sadhana Nitrochem 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

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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

6 announcementsExport CSV

1 Oct 2026, 4:53 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

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Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	43.9%	51.1%	55.5%	62.2%	-12.4%
EBITDA margin %	11.1%	14.8%	21.6%	25.6%	-106.8%
EBIT margin %	6.5%	9.5%	13.8%	16.4%	-139.7%
PAT margin %	4.7%	2.2%	2.2%	4.6%	-174%
Working capital
Receivable days	113	167	242	270	977
Inventory days	497	604	495	789	641
Payable days	219	174	143	282	314
NWC days	392	596	594	776	1,304
Leverage
Current ratio	1.23	1.57	1.68	1.39	1.8
Debt to EBITDA	7.22	6.21	5.37	5.55	—
Debt to equity	0.66	0.58	0.97	0.84	0.24
Interest coverage	2.9	1.6	1.7	1.7	-2.3
Asset turnover	0.34	0.31	0.36	0.26	0.08
Return ratios
Return on assets %	1.6%	0.7%	0.8%	1.2%	-13.1%
Return on capital employed %	6.5%	6.1%	9%	7.1%	-12.8%
Return on equity %	3.9%	1.4%	1.8%	2.7%	-19%

Date	Category	Subject	Filing
1 Oct 2026, 4:53 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
30 Sept 2026, 4:12 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
8 Sept 2026, 11:50 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
7 Sept 2026, 2:50 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF
7 Sept 2026, 2:46 pm	Company Update General	Notice Of 53Rd Annual General Meeting	PDF
7 Sept 2026, 2:40 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF

Sadhana Nitrochem Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Dividends7

Board meetings1

Stock splits2

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

7

1

2