Vishnu Chemicals Limited (VISHNU)

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Vishnu Chemicals Limited (VISHNU) · mywealthgrid

About

Vishnu Chemicals operates in specialty chemicals within the Materials sector. At ₹4,092.51 Cr market cap, it is a mid-cap player with operating margins averaging 15.68%. Consistent annual dividends since 2022 indicate reliable profitability and cash-generation capacity.

Face value: ₹2

Market cap

₹4,430 Cr

P/E

29.6×

P/B

4.1×

Dividend yield

ROE

14.3%

ROCE

18.1%

Debt / equity

0.49

OPM

15.7%

EPS (TTM)

₹22.2

Book value

₹158.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins ranged from 9.79% (Sep 2025) to 17.03% (Mar 2026); verify whether 7-point volatility reflects commodity-cycle, input-cost, or capacity-utilization swings.
PE of 27.34 against ROE of 14.26% suggests growth expectations priced in; verify whether revenue trends support this valuation premium.
FII holding at 2.51% is minimal; verify liquidity and foreign-investor appetite in specialty chemicals.
Chemical sector faces rising regulatory compliance costs; verify company's capex adequacy and reserve strength for compliance.

Generated analysis · source review pending

Growth drivers

Margins improved from 9.79% (Sep 2025) to 15-17% (recent quarters); verify if structural efficiency gains or temporary commodity rebound.
D/E ratio of 0.49 provides capex capacity; verify expansion plans and capital-allocation strategy.
Specialty chemicals demand from India's pharma and agrochemical sectors; verify company's vertical exposure and market position.
Annual dividends since 2022 demonstrate cash-generation capacity; verify capex-dividend tradeoff for growth investment.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹658.3-2.3%1Y

Quick read

rule-based

Pros

+High return on capital employed of 20.3%
+Profit CAGR of 32.8% over the last 5 years
+Revenue CAGR of 18.9% over the last 5 years
+High promoter holding of 69.2% with no pledge

Cons

−Low dividend payout of 1.3% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

50/100

Business quality: 46
Growth: 51
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.

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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 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	677	679	1,069	1,391	1,213	1,447	1,610
COGS	301	288	429	537	442	609	692
Gross profit	376	391	640	854	771	838	918
	297	313	484	624	569	609	665
	79	77	156	230	202	228	252
OPM %	11.7%	11.4%	14.6%	16.5%	16.6%	15.8%	15.7%
Depreciation	20	20	23	26	34	38	41
Interest	36	26	26	33	37	37	38
	7	3	6	15	12	15	23
Profit before tax	30	34	112	185	144	168	195
Tax	8	-0	31	49	43	42	53
Tax %	26.7%	-1.4%	27.5%	26.4%	29.7%	24.7%	27.2%
	22	34	81	137	101	127	142
PAT margin %	3.3%	5.1%	7.6%	9.8%	8.3%	8.8%	8.8%
EPS (₹)	18.6	28.9	68.1	22.9	15.9	19.2	21.1
EPS adjusted (₹)	—	5.8	13.6	22.9	15.4	18.8	21.1
	5.4%	3.5%	2.9%	1.7%	1.9%	1.6%	1.4%
Annual report	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 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	12	12	12	13	13	13
Reserves	184	265	402	688	913	1,056
Minority interest	—	—	—	—	0	5
	336	363	379	315	342	527
	241	275	258	309	365	486
Total equity & liabilities	773	915	1,051	1,325	1,634	2,088
	387	463	465	634	702	805
CWIP	24	5	98	16	69	159
Investments	1	3	2	2	0	1
	360	444	487	675	863	1,123
Total assets	773	915	1,051	1,325	1,634	2,088

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	55.5%	57.6%	59.8%	61.4%	63.6%	57.9%	57%
EBITDA margin %	11.7%	11.4%	14.6%	16.5%	16.6%	15.8%	15.7%
EBIT margin %	8.7%	8.4%	12.4%	14.6%	13.9%	13.1%	13.1%
PAT margin %	3.3%	5.1%	7.6%	9.8%	8.3%	8.8%	8.8%
Working capital
Receivable days	—	62	65	47	69	74	70
Inventory days	—	242	143	141	262	242	270
Payable days	—	174	146	120	187	172	193
NWC days	—	130	62	68	144	144	148
Leverage
Current ratio	—	1.07	1.12	1.28	1.58	1.7	1.6
Debt to EBITDA	—	4.33	2.33	1.65	1.56	1.5	2.09
Debt to equity	—	1.71	1.31	0.91	0.45	0.37	0.49
Interest coverage	1.8	2.3	5.3	6.6	4.9	5.5	6.1
Asset turnover	—	0.88	1.17	1.32	0.91	0.89	0.77
Return ratios
Return on assets %	—	4.5%	8.9%	13%	7.6%	7.8%	6.8%
Return on capital employed %	—	13.5%	28%	35.6%	22.6%	20%	18.1%
Return on equity %	—	17.6%	29.4%	33%	14.4%	13.7%	13.3%

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
	68.36%	68.36%	68.36%	68.36%	68.36%	68.36%	69.21%	69.21%	69.21%	69.21%	69.21%	69.21%
	1.45%	0.33%	0.21%	0.48%	0.89%	0.7%	0.82%	2.74%	2.24%	2.2%	2.3%	2.51%
	6.82%	7.09%	7.36%	6.74%	6.57%	7.37%	6.71%	5.42%	5.59%	5.71%	5.72%	5.94%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	23.37%	24.22%	24.07%	24.42%	24.18%	23.57%	23.26%	22.63%	22.96%	22.88%	22.77%	22.34%
No. of shareholders	—	—	—	—	—	—	—	—	31,754	31,007	30,468	31,065

Promoter holding up 0.85 percentage points since Sep 2023.

3 deals · 13 May 2022 – 30 Jul 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Jul 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	6,36,322	₹572.42	₹36.42 Cr
30 Jul 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	6,36,322	₹572.03	₹36.40 Cr
13 May 2022	MOHINANIHARRYHASSOMAL	Bulk	BSE	Sell	61,473	₹1,281.95	₹7.88 Cr

1–3 of 3

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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.

Mr. KRISHNA MURTHY CHERUKURIExecutive Director-Chairperson related to Promoter-MD
Mrs. CHERUKURI MANJULANon-Executive - Non Independent Director
Mr. CHERUKURI SIDDARTHAExecutive Director-MD
Mrs. SITA VANKANon-Executive - Independent Director
Mr. NAGABHUSHAN BHAGWATINon-Executive - Independent Director
Mr. SRIVARI CHANDRASEKHARNon-Executive - Independent Director
Mr. Mahesh BhatterChief Financial Officer
Ms. Vibha ShindeCompany 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.

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Fund holders

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

Portfolio month

Schemes holding

across 3 fund houses

Held by these funds

3.15%

of the company's equity

All mutual funds

4.75%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

4 schemes · 3 fund houses

		Shares
Franklin India Small Cap Fund (Formerly known as Franklin India Smaller Companies Fund) ^	Franklin Templeton Mutual Fund	16.59 L	108.22	0.73%	2.466%	-0
(LIVE SCHEMES)	ITI Mutual Fund	2.31 L	15.09	0.95%	0.344%	+17,787
(LIVE SCHEMES)	ITI Mutual Fund	2.29 L	14.92	0.97%	0.34%	-68
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	60	0	0.01%	0%	-0

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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

121 announcementsExport CSV

22 Sept 2026, 4:50 pmCompany Update

Update On Closure Of Vishnu International Trading FZE, UAE, Wholly Owned Subsidiary Company

General PDF

17 Sept 2026, 3:12 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

15 Sept 2026, 4:13 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

8 Sept 2026, 3:25 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

8 Sept 2026, 10:24 amCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

7 Sept 2026, 9:06 pmCompany Update

Announcement under Regulation 30 (LODR)-Joint Venture

Joint Venture PDF

31 Aug 2026, 3:55 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

31 Aug 2026, 3:43 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

Date	Category	Subject	Filing
22 Sept 2026, 4:50 pm	Company Update General	Update On Closure Of Vishnu International Trading FZE, UAE, Wholly Owned Subsidiary Company	PDF
17 Sept 2026, 3:12 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	55.5%	57.6%	59.8%	61.4%	63.6%	57.9%	57%
EBITDA margin %	11.7%	11.4%	14.6%	16.5%	16.6%	15.8%	15.7%
EBIT margin %	8.7%	8.4%	12.4%	14.6%	13.9%	13.1%	13.1%
PAT margin %	3.3%	5.1%	7.6%	9.8%	8.3%	8.8%	8.8%
Working capital
Receivable days	—	62	65	47	69	74	70
Inventory days	—	242	143	141	262	242	270
Payable days	—	174	146	120	187	172	193
NWC days	—	130	62	68	144	144	148
Leverage
Current ratio	—	1.07	1.12	1.28	1.58	1.7	1.6
Debt to EBITDA	—	4.33	2.33	1.65	1.56	1.5	2.09
Debt to equity	—	1.71	1.31	0.91	0.45	0.37	0.49
Interest coverage	1.8	2.3	5.3	6.6	4.9	5.5	6.1
Asset turnover	—	0.88	1.17	1.32	0.91	0.89	0.77
Return ratios
Return on assets %	—	4.5%	8.9%	13%	7.6%	7.8%	6.8%
Return on capital employed %	—	13.5%	28%	35.6%	22.6%	20%	18.1%
Return on equity %	—	17.6%	29.4%	33%	14.4%	13.7%	13.3%

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

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	89	100	49	87	90	134	68	90	127
	-33	-23	-22	-55	-81	-118	-154	-100	-267
	-56	-78	-24	-36	-9	-16	88	10	146
Net cash flow	0	-1	4	-4	0	0	2	0	5
Free cash flow	56	100	49	30	6	17	-53	2	-130
CFO / Operating profit %	—	—	62.4%	112.8%	57.7%	58.4%	33.5%	39.5%	50.4%

Vishnu Chemicals Limited

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

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

14

1

1

Compounded sales growth

Compounded profit growth

Return on equity

Vishnu Chemicals Limited

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

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends14

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

14

1

1