Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
VADIVARHE SPECIALITY CHEMICALS LTD. (VSCL)
SME CapIndustrials stocks · SME cap · NSE
VADIVARHE SPECIALITY CHEMICALS LTD. operates in 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, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals11 Oct 2026 · screener
Latest result01 Jun, 08:01 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage11/14 · 79%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
48NeutralSMA20 -19.0% / mo · MACD +
Stock trend: 50
Sector RS: 46
Sector 3M: -7.1% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
VSCLD candles · FIT view-2.0%Latest close ₹24.90 on 2026-10-21
Bar
+0.0%
RSI
60
MACD hist
0.61
52W pos
56%
2026-10-21O ₹24.90H ₹24.90L ₹24.90C ₹24.90Vol 6,000 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
VSCLNifty India ManufacturingNifty 500
- VSCL
- -14.1%
- Nifty 500
- -4.8%
- Nifty India Manufacturing
- -6.4%
- Vs Nifty 500
- -9.4 pp
Chart stats
21 Oct 2026- From 52W high
- -25.4%
- 52W range position
- 51%
- ATR (14)
- 4.1%
- Volume vs 20D
- 1.03x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹19.2 - ₹24.9
₹33.4
₹16.1 - ₹33.4
₹1
Latest completed session
20-session average
69.2% 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
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED18
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad15
Revenue +10.6% · PAT -42.0% YoY
Technical
Neutral48
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 evidence62
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 31 Mar 2026
Bad · 15/100PAT -42% YoY · Rev +11% YoY · margin expansion · +69% QoQ
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹28.7 Cr | +10.6% | +68.7% |
| EBITDA | ₹3.1 Cr | NDF | +225.2% |
| Operating margin | 10.7% | NDF | +2516 bps |
| PAT | ₹2.2 Cr | -42.0% | NDF |
| PAT margin | 7.7% | NDF | +3028 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- —
- P/B
- —
- EV/EBITDA
- 22.95
- Market Cap
- 29.50Cr
Profitability
- ROE
- —
- ROCE
- -1.32%
- ROA
- -4.23%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 12.00%
- EPS 5Y
- 8.00%
- Revenue 3Y
- 2.00%
- EPS 3Y
- -21.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 0.55×
- Altman Z
- 1.04
- Book Value
- -3.46
Cash Flow
- FCF Yield
- 19.42%
- FCF Positive Y
- 7/5
- OCF
- 6.36 Cr
- EPS TTM
- -1.28
Shareholding
- Promoter Hold
- 71.73%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 23%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 28.7+68.7% vs prev
Net Profit
₹ CrLatest: 2.2+157.4% 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 unclear. RSI 60. Wait for confirmation.
- SMA20 falling (~23.4% over last month) — short-term momentum negative.
- RSI(14) at 60 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 22% off 52W high · 55% 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
55
RS percentile
Insufficient history
1M return
+20.6%
3M return
-2.0%
6M return
-11.1%
1Y return
-
RS 1D
+18
RS 20D
-
Sector rank
#2
Industry rank
#6
Stage evidence
- At least 170 daily sessions are required for the trend-stage read.
50-DMA
price above
200-DMA
unavailable
Sector
leading
Industry
leading
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
121 observations
21 Oct 2026Value 92.6+5.82%
RS vs Nifty 50093
Valuation & peers
U-Score 18 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 18 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Distress Watch
Fundamental score breakdown
U band · OVERVALUEDValuation2/30
Growth8/25
Quality0/20
Balance Sheet5/15
Cash Flow8/10
Piotroski
6/9 (+3)
Penalties
-8
Raw sum
18
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
18/100 · legacy band OVERVALUED
Positive drivers
- FCF yield is supportive at 19.4%.
- Cash flow contributes 8/10 to the score.
- Balance sheet contributes 5/15 to the score.
Main drags
- Altman Z is 1.0, in distress territory.
- Penalty bucket subtracts 8 points.
- 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
—
EV/EBITDA
22.9
ROE
—
ROCE
-1.3%
FCF Yield
19.4%
Debt/Equity
0.0
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
18
Previous: 18
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
18
18
18
18
18
18
18
18
18
18
18
18
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
19.6
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
MCON
SME
Mcon Rasayan India Ltd.
Specialty Chemicals
match 164
60
9.8
8.8%
+75%
UNDERVALUED
YCCL
SME
Yasons Chemex Care Ltd.
Specialty Chemicals
match 163
22
17.5
2.3%
-839%
OVERVALUED
UNILEX
SME
Unilex Colours and Chemicals Ltd.
Specialty Chemicals
match 162
36
5.0
10.4%
+32%
WATCHLIST
SNEHAA
SME
Snehaa Organics Ltd.
Specialty Chemicals
match 158
77
5.6
24.2%
+87%
DEEP VALUE
RITEZONE
SME
Rite Zone Chemcon India Ltd.
Specialty Chemicals
match 158
53
21.2
2.2%
+43%
FAIR VALUE
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
VADIVARHE SPECIALITY CHEMICALS LTD. operates in 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 31 Mar 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
62Limited 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 35th percentile of the scored universe and 32nd percentile within Industrials. Main check: financial discipline is weak at 30/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
0 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
35th percentile
overall median 67 · Industrials: 32nd pctile, median 68 · SME: 41st pctile, median 64
Evidence depth
Financial-only
0 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
Acceptable, but check the weakest sub-score before increasing exposure.
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
90
strong · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
48
watch · leverage and solvency
Discipline
30
weak · capital discipline
Results
43
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 71.7%.
- ▸Promoter pledge is zero.
- ▸Promoter holding increased 4.9%.
- ▸FCF yield is 18.3%.
Trust risks
- ▸Altman Z is 1.05.
- ▸3 latest quarters had PAT decline worse than 25% YoY.
- ▸Interest coverage is 0.5x.
- ▸ROCE is low at -2%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching VADIVARHE SPECIALITY CHEMICALS LTD.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.