SHREEPUSHKCommodities

Shree Pushkar Chemicals & Fertilisers Limited

Dyes And Pigments · ISIN INE712K01011 · BSE 539334 · NSE EQ · FV ₹10
Last price
₹595
-4.55%today
What this company does

Shree Pushkar Chemicals & Fertilisers Limited operates in Dyes And Pigments, part of the Commodities sector. It booked ₹403 cr of revenue in its latest quarter (Q2 FY27) and kept 8.9% of sales as profit. It is the 4th largest of 9 Dyes And Pigments companies we track, by market value.

In the report:
63out of 100
Equitytale Health Score
Mixed

Healthier than 63% of companies in Commodities, on all six measures of filed financials. Each measure is ranked against the 91–176 companies that reported it.

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

Price momentum
overbought
RSI (14)
71

At close. Not part of the score.

Profitability & returns76

How much profit it earns on the money it employs

Balance sheet52

How much it owes, and whether earnings cover the interest

Cash quality40

Whether reported profit actually arrives as cash

Growth & consistency87

Whether sales and profit have grown, and how steadily

Valuation34

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

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 58% vs last year
✓ Profit up 96% vs last year
✓ Promoters hold 69%
✓ No promoter shares pledged
✓ Strong 22% return on equity
Watch-outs
! Operating cash flow is negative

What if I invest in SHREEPUSHK?

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 We do not publish price targets or predict returns.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
₹595▼ -4.55%
latest close · 2026-11-04
1-year return
+134.0%
52-wk low ₹19352-wk high ₹653
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 ratio13.5Low
LowAverageHigh
P/B ratio2.91Moderate
Below bookModerateHigh
EV / EBITDA10.3Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity21.6%Strong
WeakFairStrong ▸15%
Return on capital24.8%Strong
WeakFairStrong
Net margin8.9%Decent
ThinDecentStrong
EBITDA margin13.0%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.35Comfortable
LowModerateHigh ▸1
Interest cover17.2×Strong
RiskyOkayStrong ▸5×
Current ratio1.47Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹1,923 cr
Book value
₹205
EPS
₹11.05
latest quarter
Net debt
₹230 cr
owes more than its cash
Enterprise value
₹2,153 cr
EBITDA
₹210 cr
annualised
EBIT
₹182 cr
annualised
Operating margin
11.3%
Return on assets
12.5%
Earnings yield
7.43%
P/S
1.19
Sales / share
₹499.1
Tax rate
16.9%
Face value
₹10
Shares
3.2 cr
Working capital
₹192 cr
Current assets
₹603 cr
Current liabilities
₹412 cr
Delivery %
42.7%
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 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹82–₹124, midpoint ₹103

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 · Q2 FY27 (consolidated)
Revenue from Operations₹403 cr
Other Income₹3 cr
Total Income₹407 cr
Cost of Materials₹267 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹16 cr
Employee Benefit Expense₹15 cr
Finance Costs₹3 cr
Depreciation & Amortisation₹7 cr
Other Expenses₹56 cr
Total Expenses₹364 cr
Profit before Tax₹43 cr
Tax Expense₹7 cr
Net Profit₹36 cr
Net margin on total income8.8%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹283 cr69.5%
Employee benefit expense₹15 cr3.7%
Finance costs₹3 cr0.7%
Depreciation & amortisation₹7 cr1.7%
Other expenses₹56 cr13.9%
Tax expense₹7 cr1.8%
Profit for the period₹36 cr8.8%
Total income ₹407 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue218 cr280 cr403 cr
Total income220 cr285 cr407 cr
Expenses203 cr257 cr364 cr
Profit before tax17 cr28 cr43 cr
Tax5 cr5 cr7 cr
Net profit (owners' share)13 cr23 cr36 cr
Net margin (owners' share, on revenue)5.9%8.2%8.9%
EPS (₹)3.987.0911.05
YoY (latest quarter): total income +57.4% · net profit +96.2%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹1,146 cr
Shareholder equity
₹662 cr
parent shareholders
Total debt
₹230 cr
Cash
₹66.2 L
Cash flow · H1 FY27
Operating
₹-53 cr
Investing
₹-40 cr
Financing
₹94 cr
Peer comparison
Dyes And Pigments · by market value
CompanyPriceMarket capP/E
Sudarshan Chemical Industries Limited₹1,077₹8,560 cr21.9
Kiri Industries Limited₹523₹3,411 cr2.9
Bodal Chemicals Limited₹179₹2,250 cr6.9
Shree Pushkar Chemicals & Fertilisers Limitedthis company₹623₹2,015 cr14.1
Bhageria Industries Limited₹365₹1,595 cr7.1
Sudarshan Colorants India Limited₹371₹855 cr8.9
Asahi Songwon Colors Limited₹370₹437 cr5.7
AksharChem India Limited₹372₹299 cr5.6
Poddar Pigments Limited₹250₹266 cr21.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.35%
trailing 12 months
Dividend / share (TTM)
₹2.1
Last dividend
₹2.1
ex 18 Sep 2026
ActionDetailEx-date
Dividend₹2.1 / share18 Sep 2026
Dividend₹2 / share19 Sep 2025
Dividend₹1.5 / share20 Sep 2024
Dividend₹1.5 / share22 Sep 2023
Dividend₹2 / share21 Sep 2022
Dividend₹1 / share16 Sep 2021
Who owns it · 2026-09-30
No pledge
Promoter
69.5%
FII / Foreign
0.6%
DII / Domestic
0.3%
Retail / others
29.7%
Promoter stake up 0.9% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtBhanu Gopi Makharia · Promoters1.74 cr · ₹17.4 cr19 Mar 25
SoldPunit Gopikishan Makharia · Director87.69 L · ₹8.8 cr19 Mar 25
SoldGautam Gopikishan Makharia · Director86.43 L · ₹8.6 cr19 Mar 25
Bulk / block deals
BoughtSILVERLEAF CAPITAL SERVICES PRIVATE LIMITED · NSE2.33 L @ ₹400.1224 Apr 26
SoldSILVERLEAF CAPITAL SERVICES PRIVATE LIMITED · NSE2.33 L @ ₹400.4824 Apr 26
SoldNK SECURITIES RESEARCH PRIVATE LIMITED · NSE4.67 L @ ₹399.9924 Apr 26
Stake changes
SoldPunit Gopikishan Makharia · promoter→ 5.00% · 87.69 L19 Mar 25
BoughtBhanu Gopi Makharia · promoter→ 69.36%19 Mar 25
SoldGautam Gopikishan Makharia · promoter→ 5.00% · 86.43 L19 Mar 25
What shareholders were asked to approve

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 · 28 Sep 2026
See the official result
1
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended on 31st March, 2026 together with the Reports of the Auditors’ and Directors’ thereon
Backed by 100% of shareholders other than promotersneeded 50%
6.90 L votes for, 0 against · 0% of mutual funds and other big investors said no
2
To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended on 31st March, 2026 together with the Report of the Auditors’ thereon
Backed by 100% of shareholders other than promotersneeded 50%
6.90 L votes for, 0 against · 0% of mutual funds and other big investors said no
3
To declare Final Dividend of Rs. 2.10/- per share (i.e. 21% on Face value of share) for the year ended 31st March, 2026
Backed by 100% of shareholders other than promotersneeded 50%
6.90 L votes for, 0 against · 0% of mutual funds and other big investors said no
4
Resolution 4 : To appoint a Director in place of Mr. Punit Gopikishan Makharia (DIN:01430764) who retires by rotation and being eligible, offers himself for re-appointment
Backed by 100% of shareholders other than promotersneeded 50%
6.90 L votes for, 0 against · 0% of mutual funds and other big investors said no

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 — 10 named members
owning 69.4% between them · as of 2026-09-30
BHANU GOPI MAKHARIA55.34%
GAUTAM GOPIKISHAN MAKHARIA5.05%
PUNIT GOPIKISHAN MAKHARIA5.03%
AGRIMA MAKHARIA1.42%
RAGHAV MAKHARIA0.79%
RADHIKA PUNIT MAKHARIA0.64%
ARADHANA MAKHARIA0.50%
RANJANA PUNIT MAKHARIA0.50%
Business done with them
FY2025 · 4 of the group
The company paid ₹46 cr to companies in the promoter group last year — about 5.7% of its ₹806 cr revenue and received ₹54 L back from them.
GAUTAM GOPIKISHAN MAKHARIA
Other payments to them · Director Remuneration, Warrant Application Money Pending Allotment, Issue of shares upon conversion of warrants, Loan Taken/Repaid
also owns 5.05% of the company
₹46 cr
company paid
PUNIT GOPIKISHAN MAKHARIA
Contribution received from them · Directors Remuneration
also owns 5.03% of the company
₹54 L
company received
Raghav Makharia
Other payments to them · Salary to Relatives of Key Management Personnel (KMP)
also owns 0.79% of the company
₹23.4 L
company paid
Aradhana Makharia
Other payments to them · Salary to Relatives of Key Management Personnel (KMP)
also owns 0.50% of the company
₹17.5 L
company paid

The company also transacted with 14 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

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.

Money raised in Dec 2025 by selling shares to selected investors

As of Sep 2026, the company says it has spent 25% of what it set aside.

For undertaking investment in Madhya Bharat Phosphate Private Limited, a Material Wholly Owned Subsidiary of the Company, in the form of Equity/Quasi Equity, Debt/Loan instruments, Inter-Corporate Loan/Deposit which will be utilized by such Subsidiary as a Capital Expenditure for Complex Fertilisers and further Expansion of Unit at Meghnagar, Jhabua, Madhya Pradesh. (“Investment in Subsidiary”)
25%
of what was set aside
Spent by quarter: 0% → 25% → 25% → 25% (to Sep 2026)

The amount this filing states as raised is many times the whole company’s market value, so it is almost certainly entered in the wrong unit. We show the purposes and how far along each one is, and leave the rupee figures out rather than repeat a number that cannot be right.

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.