Annual report
Reg. 34 (1) Annual Report. 3 Sep
Source: Bse
Ishan Dyes and Chemicals Limited (ISHANCH)
Small CapIndustrials stocks · Small cap · NSE
Ishan Dyes and Chemicals Limited operates in Specialty Chemicals, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals04 Oct 2026 · screener
Latest result14 Aug, 08:02 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
47NeutralSMA20 +4.8% / mo · MACD − · near 52W low
Stock trend: 46
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ISHANCHD candles · FIT view-25.1%Latest close ₹46.36 on 2026-10-19
Bar
+0.9%
RSI
47
MACD hist
-0.16
52W pos
13%
2026-10-19O ₹45.96H ₹48.24L ₹45.02C ₹46.36Vol 1,615 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ISHANCHNifty India ManufacturingNifty 500
- ISHANCH
- -11.8%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -6.3 pp
Chart stats
19 Oct 2026- From 52W high
- -44.4%
- 52W range position
- 11%
- ATR (14)
- 6.2%
- Volume vs 20D
- 0.09x
- Avg traded value
- ₹0.1 Cr
- 20D price channel
- ₹44 - ₹53.4
₹83.4
₹41.7 - ₹83.4
₹2.9
Latest completed session
20-session average
28.0% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Suggested next step
Verify management risk first
Do not let cheap valuation override weak Trust or governance evidence.
U-Score
Legacy · OVERVALUED6
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad2
Revenue +154.6% · PAT -46.7% YoY
Technical
Neutral47
Price trend and sector-relative-strength timing.
Valuation
Legacy model—
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence48
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 2/100PAT -47% YoY · margin compression · Rev +155% YoY · +31% QoQ
Filed 14 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹41.5 Cr | +154.6% | +30.6% |
| EBITDA | ₹3.4 Cr | +84.2% | -39.6% |
| Operating margin | 8.1% | -311 bps | -945 bps |
| PAT | ₹0.2 Cr | -46.7% | -89.0% |
| PAT margin | 0.4% | -145 bps | -421 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- —
- P/B
- 0.91
- EV/EBITDA
- 18.95
- Market Cap
- 129.00Cr
Profitability
- ROE
- -5.78%
- ROCE
- 0.96%
- ROA
- -2.83%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- -2.00%
- EPS 5Y
- -14.00%
- Revenue 3Y
- 4.00%
- EPS 3Y
- -6.00%
Balance Sheet
- Debt/Equity
- 0.64
- Interest Coverage
- 0.64×
- Altman Z
- 1.96
- Book Value
- 52.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- 8.59 Cr
- EPS TTM
- -2.80
Shareholding
- Promoter Hold
- 40.15%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 14%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 41.5+30.6% vs prev
Net Profit
₹ CrLatest: 0.2-89.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 47. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 rising (~4.6% over last month) — short-term momentum positive.
- RSI(14) at 47 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 39% off 52W high · 11% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
19
RS percentile
Stage 4 Downtrend
1M return
-9.2%
3M return
-11.8%
6M return
-26.0%
1Y return
-32.7%
RS 1D
+3
RS 20D
-12
Sector rank
#2
Industry rank
#9
Stage evidence
- Price is 14.4% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -2.5%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 75.84+1.91%
RS vs Nifty 50076
Valuation & peers
U-Score 6 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 6 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation5/30
Growth0/25
Quality0/20
Balance Sheet6/15
Cash Flow1/10
Piotroski
4/9 (+1)
Penalties
-7
Raw sum
6
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
6/100 · legacy band OVERVALUED
Positive drivers
- Balance sheet contributes 6/15 to the score.
- Valuation contributes 5/30 to the score.
- Cash flow contributes 1/10 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Growth is weaker at 0/25; verify the latest quarterly trend.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
—
PB
0.9
EV/EBITDA
18.9
ROE
-5.8%
ROCE
1.0%
FCF Yield
—
Debt/Equity
0.6
MoS
—
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
6
Previous: 6
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
—
No stored baseline yet
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
6
6
6
6
6
6
6
6
6
6
6
6
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
—
Growth-justified P/E
3.1
Growth-justified Value
—
— MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
HPIL
Small
Hindprakash Industries Limited
Specialty Chemicals
match 167
12
81.2
3.3%
-132%
OVERVALUED
HINDCON
Small
Hindcon Chemicals Limited
Specialty Chemicals
match 165
10
37.5
5.5%
-620%
OVERVALUED
KANCHI
Small
Kanchi Karpooram Limited
Specialty Chemicals
match 164
16
21.5
2.4%
-733%
OVERVALUED
ALKALI
Small
Alkali Metals Limited
Specialty Chemicals
match 163
25
34.3
1.3%
+16%
OVERVALUED
PAR
Small
Par Drugs And Chemicals Limited
Specialty Chemicals
match 163
43
10.5
9.9%
-15%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Ishan Dyes and Chemicals Limited operates in Specialty Chemicals, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
48Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 5th percentile of the scored universe and 4th percentile within Industrials. Main check: results consistency is weak at 17/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
4 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
5th percentile
overall median 67 · Industrials: 4th pctile, median 68 · Small: 6th pctile, median 66
Evidence depth
Financial-only
4 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
82
strong · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
51
watch · leverage and solvency
Discipline
40
weak · capital discipline
Results
17
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸Promoter holding increased 2.7%.
Trust risks
- ▸4 latest quarters had PAT decline worse than 25% YoY.
- ▸Only 1 years of positive FCF.
- ▸Interest coverage is 0.6x.
- ▸ROCE is low at 1%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Ishan Dyes and Chemicals Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Aug - We are submitting herewith Copies of Newspaper Publication in respect of information regarding 33rd Annual General Meeting of the Company.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Aug - We are submitting herewith disclosure under regulation 30 of SEBI (LODR) Regulations, 2015 - Copies of Newspaper Publication.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 30 May - We are submitting herewith disclosure under regulation 30 of SEBI (LODR) Regulations, 2015 - Copies of Newspaper Publication.
Source: Bse
Announcement
Compliances-Reg.24(A)-Annual Secretarial Compliance 29 May - Annual secretarial compliance report for FY2026 notes one board-composition non-compliance, fined ₹20,000.
Source: Bse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Bse
Annual reportMar 2026
Mar 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Sep - We are submitting herewith Copies of Newspaper Publication confirming electronic dispatch of Notice of 33rd AGM and Annual Report 2025-26.
Source: Bse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.