HEUBACHIND
Sudarshan Colorants India share price & financials
- Price
- ₹366.15
- Market cap
- ₹1.4k Cr
- Sector
- Chemicals
What Sudarshan Colorants India Limited does
Heubach Colorants India Limited manufactures organic and inorganic pigments, pigment preparations and dyes used in coatings, plastics, printing and other specialty applications. It is the Indian manufacturing and sales arm of Heubach, which was combined with Sudarshan Chemical Industries and Clariant's pigment business during FY2025 to form ONE Sudarshan, a top-two global pigments group. The company runs its own manufacturing plants in Maharashtra, Madhya Pradesh and Tamil Nadu, exports through group entities to markets worldwide, and maintains a dedicated R&D centre and application laboratories to develop pigments for automotive coatings, plastics, inks, textiles and personal-care uses.
Segments
- Coatings
- Plastics
- Printing & Digital Printing
- Special Applications
- Manufacturing plants in India
- 4 plants across 3 sites — Roha, Maharashtra (2 plants), Nagda, Madhya Pradesh, and Cuddalore, Tamil Nadu
- Export markets served
- 75+ countries (via associated group entities)
- Domestic customers
- 100+
- Product portfolio
- 500+ pigments, preparations and dyes
- Product categories
- Organic pigments, inorganic pigments, pigment preparations, dyes
- ISO-certified production sites
- 90% certified to ISO 9001, ISO 14001 and ISO 45001
Quarterly results
Q1 FY27: revenue up 5.2%, net profit up 17.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 218 | 213 | 220 | 211 | 183 −16% | 176 −17% | 211 −4% | 222 +5% |
| EBITDA | 28 | 25 | 18 | 24 | 18 −36% | 11 −56% | 4 −78% | 26 +8% |
| Net profit | 18 | 17 | 11 | 17 | 16 −11% | -2 −112% | 13 +18% | 20 +18% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −36.8% 1Y
1Y: ₹595.3 on 10 Sept 2025 → ₹376.5. High ₹597.1 (22 Sept 2025), low ₹272.95 (30 Mar 2026).
Financials, as filed
Revenue grew 0.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 7.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹766 Cr | ₹790 Cr | ₹824 Cr | ₹781 Cr |
| Operating profit | ₹61 Cr | ₹72 Cr | ₹82 Cr | ₹57 Cr |
| Operating margin | 7.9% | 9.1% | 10.0% | 7.3% |
| Interest | ₹0 Cr | ₹3 Cr | ₹4 Cr | ₹4 Cr |
| Depreciation | ₹20 Cr | ₹23 Cr | ₹21 Cr | ₹20 Cr |
| Net profit | ₹19 Cr | ₹41 Cr | ₹51 Cr | ₹44 Cr |
| Net margin | 2.4% | 5.2% | 6.2% | 5.6% |
| Cash from operations | ₹36 Cr | ₹95 Cr | ₹111 Cr | ₹34 Cr |
| Free cash flow | ₹20 Cr | ₹78 Cr | ₹100 Cr | ₹6 Cr |
| ROCE | 11.0% | 12.0% | 15.0% | 11.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹23 Cr | ₹23 Cr | ₹23 Cr | ₹23 Cr | ₹23 Cr | ₹23 Cr |
| Reserves | ₹384 Cr | ₹391 Cr | ₹409 Cr | ₹472 Cr | ₹533 Cr | ₹547 Cr |
| Borrowings | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹26 Cr | ₹24 Cr | ₹23 Cr |
| Other liabilities | ₹241 Cr | ₹222 Cr | ₹229 Cr | ₹231 Cr | ₹167 Cr | ₹212 Cr |
| Total liabilities | ₹649 Cr | ₹636 Cr | ₹662 Cr | ₹752 Cr | ₹747 Cr | ₹805 Cr |
| Fixed assets | ₹150 Cr | ₹150 Cr | ₹146 Cr | ₹164 Cr | ₹155 Cr | ₹165 Cr |
| Capital work in progress | ₹9 Cr | ₹8 Cr | ₹8 Cr | ₹5 Cr | ₹11 Cr | ₹8 Cr |
| Investments | ₹10 Cr | ₹9 Cr | ₹3 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr |
| Other assets | ₹481 Cr | ₹469 Cr | ₹505 Cr | ₹579 Cr | ₹577 Cr | ₹628 Cr |
| Total assets | ₹649 Cr | ₹636 Cr | ₹662 Cr | ₹752 Cr | ₹747 Cr | ₹805 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +15.89 pp while DIIs trimmed −8.65 pp. The shareholder count shrank 8% to 36,767.
- Promoters
- 70.3%
- FIIs
- 0.2%
- DIIs
- 0.5%
- Public
- 29.1%
Since Jun 2025
- Promoters +15.89 pp
- DIIs −8.65 pp
- Public −5.57 pp
How it drifted, 12 quarters
Over this window promoters went from 54.4% to 70.3% — +15.9 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 54.4%, FIIs 0.3%, DIIs 0.5%, Public 44.9%.Dec '23: Promoters 54.4%, FIIs 0.3%, DIIs 1.3%, Public 44.0%.Mar '24: Promoters 54.4%, FIIs 0.3%, DIIs 1.9%, Public 43.4%.Jun '24: Promoters 54.4%, FIIs 0.4%, DIIs 3.2%, Public 42.0%.Sep '24: Promoters 54.4%, FIIs 0.4%, DIIs 3.7%, Public 41.5%.Dec '24: Promoters 54.4%, FIIs 0.4%, DIIs 8.5%, Public 36.7%.Mar '25: Promoters 54.4%, FIIs 1.1%, DIIs 10.6%, Public 33.9%.Jun '25: Promoters 54.4%, FIIs 1.8%, DIIs 9.2%, Public 34.7%.Sep '25: Promoters 54.4%, FIIs 1.3%, DIIs 10.1%, Public 34.3%.Dec '25: Promoters 70.3%, FIIs 0.2%, DIIs 0.5%, Public 29.0%.Mar '26: Promoters 70.3%, FIIs 0.2%, DIIs 0.5%, Public 29.0%.Jun '26: Promoters 70.3%, FIIs 0.2%, DIIs 0.5%, Public 29.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Sudarshan Argentina SLO S.A.U. newly disclosed 0.00% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Sudarshan Colorants India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Colorants International AG | 36.56% | unchanged |
| Ebito Chemiebeteilgungen AG | 17.80% | unchanged |
| Sudarshan Europe B.V. | 15.89% | unchanged |
| Rajesh Balkrishna Rathi | 0.00% | unchanged |
| Balkrishna Rathi Finance Private Limited | 0.00% | unchanged |
| Rachna Rajesh Rathi | 0.00% | unchanged |
| Kusum Balkrishna Rathi | 0.00% | unchanged |
| Shri Balkrishna Rathi Family Trust (Trustees - Rajesh Balkrishna Rathi And Ajay Balkrishna Rathi) | 0.00% | unchanged |
| Rajesh Balkrishna Rathi (Huf) (Karta - Rajesh Balkrishna Rathi) | 0.00% | unchanged |
| Sow Rachna Rathi Family Trust (Trustees - Rajesh Balkrishna Rathi And Rachna Rajesh Rathi) | 0.00% | unchanged |
| Sudarshan MFG (Thailand) Ltd. | 0.00% | unchanged |
| Sudarshan USA SLO LLC | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Sudarshan Colorants India Limited
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