ISHANCH
Ishan Dyes and Chemicals financials
- Market cap
- ₹123 Cr
- Sector
- Chemicals
What Ishan Dyes and Chemicals Limited does
Ishan Dyes and Chemicals Limited manufactures, trades, exports and imports chemicals used in the dyes and pigments industry. It operates as a single reportable business segment ("Chemicals") and runs its manufacturing operations from a combined registered-office-and-factory site in the Vatva GIDC industrial estate, Ahmedabad. Besides domestic sales, the company also exports its chemical products.
Segments
- Chemicals
- Manufacturing facility
- 1 (Vatva GIDC Estate, Ahmedabad, Gujarat)
- Permanent employees
- 104 (as of 31 Mar 2025)
- Reportable business segments
- 1 (Chemicals)
Quarterly results
Q1 FY27: revenue up 154.6%, net profit down 46.7% 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 | 31 | 21 | 17 | 16 | 7 −78% | 19 −12% | 32 +90% | 41 +155% |
| EBITDA | 2 | 2 | 0 | 2 | -2 −171% | -2 −194% | 6 +1760% | 3 +84% |
| Net profit | 1 | 0 | -1 | 0 | -4 −374% | -5 −10600% | 1 +226% | 0 −47% |
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 −26.9% 1Y
1Y: ₹61.33 on 10 Sept 2025 → ₹44.84. High ₹81.97 (13 Oct 2025), low ₹43.23 (26 Aug 2026).
Financials, as filed
Revenue fell 2.1% a year over 2 years, FY24 to FY26. Operating margin widened to 5.1%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹77 Cr | ₹101 Cr | ₹73 Cr |
| Operating profit | ₹3 Cr | ₹7 Cr | ₹4 Cr |
| Operating margin | 4.2% | 6.6% | 5.1% |
| Interest | ₹3 Cr | ₹5 Cr | ₹7 Cr |
| Depreciation | ₹3 Cr | ₹2 Cr | ₹5 Cr |
| Net profit | ₹0 Cr | ₹1 Cr | ₹-7 Cr |
| Net margin | 0.2% | 1.1% | -9.7% |
| Cash from operations | ₹-9 Cr | ₹12 Cr | ₹9 Cr |
| Free cash flow | ₹-43 Cr | ₹-31 Cr | ₹-31 Cr |
| ROCE | 2.3% | 4.0% | 1.0% |
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 | ₹16 Cr | ₹17 Cr | ₹21 Cr | ₹21 Cr | ₹26 Cr | ₹27 Cr |
| Reserves | ₹49 Cr | ₹69 Cr | ₹82 Cr | ₹82 Cr | ₹114 Cr | ₹115 Cr |
| Borrowings | ₹10 Cr | ₹19 Cr | ₹22 Cr | ₹59 Cr | ₹88 Cr | ₹90 Cr |
| Other liabilities | ₹15 Cr | ₹10 Cr | ₹6 Cr | ₹17 Cr | ₹10 Cr | ₹24 Cr |
| Total liabilities | ₹90 Cr | ₹114 Cr | ₹131 Cr | ₹179 Cr | ₹239 Cr | ₹256 Cr |
| Fixed assets | ₹31 Cr | ₹37 Cr | ₹62 Cr | ₹64 Cr | ₹61 Cr | ₹164 Cr |
| Capital work in progress | ₹1 Cr | ₹0 Cr | ₹1 Cr | ₹30 Cr | ₹103 Cr | ₹4 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹59 Cr | ₹77 Cr | ₹68 Cr | ₹85 Cr | ₹74 Cr | ₹88 Cr |
| Total assets | ₹90 Cr | ₹114 Cr | ₹131 Cr | ₹179 Cr | ₹239 Cr | ₹256 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 trimmed −6.58 pp while the public added +6.58 pp. The shareholder count shrank 9% to 8,487.
- Promoters
- 40.1%
- Public
- 59.9%
Since Jun 2025
- Promoters −6.58 pp
- Public +6.58 pp
How it drifted, 12 quarters
Over this window promoters fell from 47.0% to 40.1% — −6.8 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 47.0%, Public 53.0%.Dec '23: Promoters 47.2%, Public 52.8%.Mar '24: Promoters 47.2%, Public 52.8%.Jun '24: Promoters 47.2%, Public 52.8%.Sep '24: Promoters 47.2%, Public 52.8%.Dec '24: Promoters 47.2%, Public 52.8%.Mar '25: Promoters 46.7%, Public 53.3%.Jun '25: Promoters 46.7%, Public 53.3%.Sep '25: Promoters 37.5%, Public 62.5%.Dec '25: Promoters 37.5%, Public 62.5%.Mar '26: Promoters 40.1%, Public 59.9%.Jun '26: Promoters 40.1%, Public 59.9%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Ishan Dyes and Chemicals Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Anilaben Piyushbhai Patel | 10.86% | unchanged |
| Piyushbhai N Patel | 10.11% | unchanged |
| Mirali Hemantbhai Patel | 9.77% | unchanged |
| Shrinal P Patel | 8.85% | unchanged |
| Riya Vinodchandra Pandiya | 4.65% | unchanged |
| Rakesh Ramanlal Shah | 2.75% | unchanged |
| Shaishav Rakeshbhai Shah | 2.75% | unchanged |
| Standard Greases And Specialities Private Limited | 2.52% | unchanged |
| Sanjeev Umedmal Dugar | 1.48% | unchanged |
| Patel Nikul Kumar | 1.21% | unchanged |
| Jay Kanakrai Bhatt | 1.16% | unchanged |
| Arhaa Holdings | 1.11% | 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 Ishan Dyes and Chemicals Limited
Guides on how to read this kind of business and the numbers that matter.