ISHANCHCommodities

Ishan Dyes and Chemicals Limited

Specialty Chemicals · ISIN INE561M01018 · BSE 531109 · NSE EQ · FV ₹10
Last price
₹49
+4.90%today
What this company does

Ishan Dyes and Chemicals Limited operates in Specialty Chemicals, part of the Commodities sector. It booked ₹41 cr of revenue in its latest quarter (Q1 FY27) and kept 0.4% of sales as profit.

In the report:
44out of 100
Equitytale Health Score
Strained

Healthier than 44% of companies in Commodities, on the 5 of 6 measures we could read for it. Each measure is ranked against the 141–173 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
61

At close. Not part of the score.

Profitability & returns19

How much profit it earns on the money it employs

Balance sheet20

How much it owes, and whether earnings cover the interest

Cash quality94

Whether reported profit actually arrives as cash

Valuation30

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 155% vs last year
Promoters hold 40%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 0.4% net margin
! Profit down 49% vs last year
! Low 0.4% return on equity

What if I invest in ISHANCH?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹49 +4.90%
latest close · 2026-09-17
52-wk low ₹4242 sessions so far52-wk high ₹61
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio206.0High
LowAverageHigh
P/B ratio0.95Below book
Below bookModerateHigh
EV / EBITDA11.9Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity0.4%Weak
WeakFairStrong ▸15%
Return on capital6.0%Weak
WeakFairStrong
Net margin0.4%Thin
ThinDecentStrong
EBITDA margin11.4%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.64Moderate
LowModerateHigh ▸1
Interest cover1.1×Risky
RiskyOkayStrong ▸5×
Current ratio1.09Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹135 cr
Book value
₹52
EPS
₹0.06
latest quarter
Net debt
₹90 cr
owes more than its cash
Enterprise value
₹225 cr
EBITDA
₹19 cr
annualised
EBIT
₹11 cr
annualised
Operating margin
6.5%
Return on assets
0.2%
Earnings yield
0.49%
P/S
0.81
Sales / share
₹60.8
Tax rate
14.9%
Face value
₹10
Shares
2.7 cr
Working capital
₹7 cr
Current assets
₹83 cr
Current liabilities
₹76 cr
Delivery %
64.9%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The company's latest annual profit was negative, so we won't call it cheap off older profits.

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹41 cr
Other Income₹1 cr
Total Income₹43 cr
Cost of Materials₹31 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹4 cr
Employee Benefit Expense₹2 cr
Finance Costs₹2 cr
Depreciation & Amortisation₹2 cr
Other Expenses₹2 cr
Total Expenses₹43 cr
Profit before Tax₹18.2 L
Tax Expense₹2.7 L
Net Profit₹15.5 L
Net margin on total income0.4%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹34 cr79.8%
Employee benefit expense₹2 cr4.0%
Finance costs₹2 cr5.8%
Depreciation & amortisation₹2 cr4.8%
Other expenses₹2 cr5.2%
Tax expense₹2.7 L0.1%
Profit for the period₹15.5 L0.4%
Total income ₹43 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue19 cr32 cr41 cr
Total income20 cr33 cr43 cr
Expenses24 cr31 cr43 cr
Profit before tax-4 cr2 cr18.2 L
Tax1 cr89.8 L2.7 L
Net profit (owners' share)-5 cr1 cr15.5 L
Net margin (owners' share, on revenue)-28.1%4.6%0.4%
EPS (₹)-2.010.560.06
YoY (latest quarter): total income +156.0% · net profit -49.0%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹256 cr
Shareholder equity
₹142 cr
parent shareholders
Total debt
₹90 cr
Cash
₹40.4 L
Cash flow · H1 FY26
Operating
₹2 cr
Investing
₹-35 cr
Financing
₹33 cr
Peer comparison
Specialty Chemicals · by market value
CompanyPriceMarket capP/E
Pidilite Industries Limited₹1,552₹1.58 L cr45.3
Gujarat Fluorochemicals Limited₹4,472₹49,190 cr55.4
Navin Fluorine International Limited₹8,220₹42,169 cr43.3
Deepak Nitrite Limited₹1,605₹21,889 cr15.9
Aether Industries Limited₹1,623₹21,543 cr85.1
Atul Limited₹6,134₹18,057 cr18.4
Aarti Industries Limited₹477₹17,287 cr27.9
Fine Organic Industries Limited₹5,202₹15,949 cr28.9
BASF India Limited₹3,602₹15,591 cr11.2
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹1.25
ex 29 Apr 2021
ActionDetailEx-date
Dividend₹1.25 / share29 Apr 2021
Dividend₹1 / share27 Aug 2020
Dividend₹0.75 / share8 Mar 2018
Bonus issue2:114 Feb 2017
Dividend₹0.5 / share20 Sep 2016
Who owns it · 2026-06-30
No pledge
Promoter
40.1%
Public
59.9%
Promoter stake down 6.6% over the last 10 quarters.
Smart-money activity
Insider trades
BoughtPiyushbhai Natvarlal Patel · Promoters7.41 L · ₹4.7 cr28 Mar 26
BoughtAnilaben Piyushbhai Patel · Promoters4.23 L · ₹2.7 cr21 Mar 26
BoughtAnilaben Piyushbhai Patel · Promoters22.92 L · ₹14.4 cr20 Sep 25
Bulk / block deals
SoldORION STOCKS LTD · NSE1.49 L @ ₹48.0519 Aug 26
BoughtORION STOCKS LTD · NSE1.47 L @ ₹48.0119 Aug 26
BoughtPARU SECURITIES PVT.LTD. · NSE1.24 L @ ₹80.9210 Oct 25
Stake changes
BoughtPiyushbhai Natvarlal Patel · promoter→ 14.03% · 7.41 L28 Mar 26
BoughtAnilaben Piyushbhai Patel · promoter→ 15.74% · 4.23 L21 Mar 26
BoughtPiyushbhai Natvarlal Patel · promoter→ 14.03% · 22.92 L20 Sep 25
What shareholders were asked to approve
3 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 29 Sep 2025
See the official result
1
ADOPTION OF THE ANNUAL AUDITED STANDALONE FINANCIAL STATEMENTS AND REPORTS THEREON.
⚑ Passed only because promoters voted yes
Backed by 2% of shareholders other than promotersneeded 50%
4,751 votes for, 3.00 L against
2
RE-APPOINTMENT OF SHRI PIYUSHBHAI NATVARLAL PATEL (DIN: 00450807) AS A DIRECTOR RETIRING BY ROTATION.
⚑ Passed only because promoters voted yes
Backed by 2% of shareholders other than promotersneeded 50%
4,751 votes for, 3.00 L against
3
APPOINTMENT OF SECRETARIAL AUDITOR OF THE COMPANY FROM THE CONCLUSION OF 32ND ANNUAL GENERAL MEETING TILL THE CONCLUSION OF THE 37TH ANNUAL GENERAL MEETING AND TO FIX THEIR REMUNERATION.
⚑ Passed only because promoters voted yes
Backed by 2% of shareholders other than promotersneeded 50%
4,751 votes for, 3.00 L against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 5 named members
owning 40.1% between them · as of 2026-06-30
Anilaben Piyushbhai Patel10.86%
Piyushbhai N Patel10.11%
Mirali Hemantbhai Patel9.77%
Shrinal P Patel8.85%
Marutbhai Dineshchandra Patel0.56%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹3 cr raised in Mar 2026 by selling shares to selected investors

As of Mar 2026, the company says it has spent 11% of what it set aside.

To Acquire and purchase Plant & Machinery, Equipment’s and its upgradation
0%
of what was set aside
To Meet the Working Capital requirements
87%
of what was set aside
To Repay Debts and Borrowings of the Company
0%
of what was set aside
General Corporate Purposes
0%
of what was set aside

The rupee amounts in this company’s own breakdown don’t add up to the amount it says it raised — a common filing slip, where a table meant to be read in lakhs is entered as whole rupees. Rather than guess which is right, we show only the percentages, which are unaffected.

₹2 cr raised in Mar 2026 by selling shares to selected investors

As of Mar 2026, the company says it has spent 6% of what it set aside.

To Acquire and purchase Plant & Machinery, Equipment’s and its upgradation
0%
of what was set aside
To Meet the Working Capital requirements
50%
of what was set aside
To Repay Debts and Borrowings of the Company
0%
of what was set aside
General Corporate Purposes
0%
of what was set aside

The rupee amounts in this company’s own breakdown don’t add up to the amount it says it raised — a common filing slip, where a table meant to be read in lakhs is entered as whole rupees. Rather than guess which is right, we show only the percentages, which are unaffected.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.