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Ishan Dyes and Chemicals Limited
(ISHANCH)
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Rating:49Neutral
Price Target:
₹51.00
▲(0.00% Upside)
Action:Reiterated
Date:05/31/26
The score is held back primarily by weak fundamentals: profitability deteriorated sharply in FY2026 and free cash flow has been persistently negative alongside rising debt, increasing financial risk. Technicals provide partial support with modestly positive momentum and price above key moving averages, but valuation is less supportive given a negative P/E and no dividend yield data.
Positive Factors
Stable distribution business model
The company’s product-distribution business centers on sourcing and supplying chemical inputs to industrial customers, leveraging supplier networks and repeat orders. This model can generate durable revenue streams tied to ongoing textile and manufacturing input demand, supporting recovery if volumes return.
Negative Factors
Persistently negative free cash flow
Deeply negative free cash flow across all reported years signals an inability to self-fund operations or investments. This persistent cash shortfall forces reliance on external financing, limits strategic flexibility, and raises the probability of liquidity strain if operating performance does not improve.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable distribution business model
The company’s product-distribution business centers on sourcing and supplying chemical inputs to industrial customers, leveraging supplier networks and repeat orders. This model can generate durable revenue streams tied to ongoing textile and manufacturing input demand, supporting recovery if volumes return.
Read all positive factors
Ishan Dyes and Chemicals Limited (ISHANCH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.43B
Dividend YieldN/A
Average Volume (3M)21.57K
Price to Earnings (P/E)―
Beta (1Y)1.33
Revenue Growth-27.59%
EPS Growth-676.68%
CountryIN
Employees104
SectorGeneral
Sector StrengthN/A
IndustryChemicals
Share Statistics
EPS (TTM)-3.13
Shares Outstanding27,304,398
10 Day Avg. Volume60,609
30 Day Avg. Volume21,567
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.77
Price to Sales (P/S)1.50
P/FCF Ratio-3.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Ishan Dyes and Chemicals Limited Business Overview & Revenue Model
Company Description
Ishan Dyes and Chemicals Ltd. is an Indian firm engaged in the manufacturing, trading, importing, and exporting of chemicals essential for the dye and pigment industries. The company's product line features a comprehensive range of phthalocyanine ...
How the Company Makes Money
The company primarily makes money by selling chemical products it sources from third-party manufacturers to industrial customers at a markup, generating revenue from the trading/distribution spread between procurement cost and selling price. Key r...
Ishan Dyes and Chemicals Limited Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
56
Neutral
Cash Flow
28
Negative
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 734.71M | 1.01B | 766.69M | 647.08M | 874.05M |
| Gross Profit | 33.95M | 189.37M | 129.17M | 115.63M | 280.05M |
| EBITDA | 69.04M | 93.84M | 58.03M | 29.81M | 173.34M |
| Net Income | -71.08M | 10.85M | 1.17M | -12.02M | 101.11M |
Balance Sheet | |||||
| Total Assets | 2.56B | 2.22B | 1.79B | 1.31B | 1.14B |
| Cash, Cash Equivalents and Short-Term Investments | 4.04M | 2.57M | 1.60M | 2.73M | 2.70M |
| Total Debt | 902.86M | 920.93M | 594.34M | 224.25M | 187.83M |
| Total Liabilities | 1.14B | 1.18B | 764.49M | 280.93M | 287.29M |
| Stockholders Equity | 1.42B | 1.04B | 1.03B | 1.03B | 856.39M |
Cash Flow | |||||
| Free Cash Flow | -352.79M | -305.35M | -426.06M | -86.36M | -164.24M |
| Operating Cash Flow | 38.71M | 116.06M | -92.55M | 202.11M | -85.24M |
| Investing Cash Flow | -470.32M | -391.54M | -251.22M | -405.41M | -80.02M |
| Financing Cash Flow | 434.22M | 275.30M | 342.64M | 203.33M | 164.06M |
Ishan Dyes and Chemicals Limited Technical Analysis
Negative
51.00
Price Trends
57.42
Negative
57.86
Negative
61.66
Negative
Market Momentum
-1.53
Negative
45.47
Neutral
17.13
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ISHANCH, the sentiment is Negative. The current price of 51 is below the 20-day moving average (MA) of 53.78, below the 50-day MA of 57.42, and below the 200-day MA of 61.66, indicating a bearish trend. The MACD of -1.53 indicates Negative momentum. The RSI at 45.47 is Neutral, neither overbought nor oversold. The STOCH value of 17.13 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ISHANCH.
Ishan Dyes and Chemicals Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | ₹4.66B | 13.36 | ― | 0.56% | -0.60% | 96.33% | |
61 Neutral | ₹4.28B | 20.34 | ― | ― | 17.28% | -11.76% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹2.41B | 17.74 | ― | 0.13% | 15.69% | 18.38% | |
49 Neutral | ₹1.43B | -17.46 | ― | ― | -27.59% | -676.68% | |
49 Neutral | ₹7.89B | -1.11 | ― | 1.00% | -70.00% | -2034.82% |
* General Sector Average
IN:ISHANCH
Ishan Dyes and Chemicals Limited
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Ishan Dyes and Chemicals Limited Corporate Events
Ishan Dyes and Chemicals Clears FY26 Results, Appoints New Internal Auditor
May 28, 2026
Ishan Dyes and Chemicals Limited’s board has approved the audited standalone financial results for the fourth quarter and financial year ended 31 March 2026, with the statutory auditor issuing an unmodified opinion, underscoring the integrit...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.