Seya Industries Ltd. (SEYAIND) AI Stock Analysis

• Market Cap: ₹451.17M
• Dividend Yield: N/A
• Average Volume (3M): 2.13K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.21
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 28
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): -0.35
• Shares Outstanding: 26,570,540
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 2,135
• PEG Ratio: -0.07
• Price to Book (P/B): 0.05
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.18
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: ₹16.50 ▼(-16.79% Downside)

The score is driven primarily by weak financial performance—zero/very low revenue, recurring losses, and mostly negative operating/free cash flow—partially cushioned by moderate leverage and stable equity. Technicals are neutral with mixed moving-average positioning and weak momentum, while valuation remains unattractive due to loss-making earnings and no stated dividend support.

Positive Factors

Balance sheet leverage and equity stability

Moderate debt-to-equity (~0.9x) and relatively stable equity give the company structural breathing room versus highly leveraged peers. This balance-sheet posture can preserve access to credit and absorb shocks while management works to restore operating performance over the medium term.

Occasional positive EBITDA

Intermittent positive EBITDA suggests underlying operations can generate operating cash before depreciation/amortization and one-offs. If revenue recovery initiatives succeed, these positive underlying margins could convert to sustainable operating profitability without requiring immediate structural changes.

Industry positioning (Specialty Chemicals)

Operating in specialty chemicals typically implies technical know‑how, higher barriers to entry and niche customer relationships. These structural industry characteristics can support pricing power and durable customer contracts, offering a realistic pathway to rebuild revenues if operational execution improves.

Negative Factors

Revenue collapse to zero

A drop to zero reported annual revenue is a severe structural impairment: it eliminates natural cash inflows, undermines customer relationships and market presence, and makes medium‑term recovery dependent on reestablishing sales channels or securing external funding to sustain operations.

Persistent negative cash generation

Consistently negative operating and free cash flows indicate ongoing cash burn and limited internal financing capability. Over months this constrains investment, working capital, and creditor flexibility, increasing reliance on external capital and raising solvency risk if losses persist.

Recurring net losses and negative returns

Chronic net losses and persistently negative ROE signal the balance sheet is not creating shareholder value. This undermines the company’s ability to retain talent, attract new capital on reasonable terms, and sustain long‑term operations without strategic restructuring or capital injections.

Seya Industries Ltd. Business Overview & Revenue Model

Company Description

Seya Industries Limited manufactures and sells specialty chemicals in India and internationally. The company's products include pigment intermediates, chloro benzenes, nitro chloro benzenes, and acids. It offers its products for use in computer printing inks, pigments and paints, pharmaceuticals, personal and health care products, agrochemicals, insecticides/pesticides, organic chemical intermediates, rubber chemicals, textile dyes, thermic fluids, etc. The company was formerly known as Sriman Organic Chemical Industries Limited and changed its name to Seya Industries Limited in June 2011. Seya Industries Limited was incorporated in 1990 and is based in Mumbai, India.

How the Company Makes Money

Seya Industries Ltd. Financial Statement Overview

Summary

Financials indicate high operating stress: revenue has contracted sharply and fell to zero in FY2025, profitability is consistently negative with recurring net losses, and operating/free cash flow are mostly negative. The main offset is a comparatively more stable balance sheet with moderate leverage (~0.9x debt-to-equity) and intact equity, but persistently negative returns and cash burn elevate risk.

Income Statement

Operating performance is weak and volatile. Revenue has contracted sharply over the period and fell to zero in FY2025 (annual), following already low sales levels in FY2024. Profitability remains negative with recurring net losses (including a very large loss in FY2021) and negative operating profit in most years. A key positive is that EBITDA is sometimes positive despite losses, but the overall earnings quality and consistency are poor.

Balance Sheet

Leverage appears moderate for a specialty chemicals profile, with debt-to-equity hovering around ~0.9x across years, and equity remaining sizable and relatively stable. However, returns are persistently negative (return on equity is below zero each year provided), indicating the balance sheet is not generating adequate shareholder value and could face pressure if losses and weak revenues persist.

Cash Flow

Cash generation is inconsistent and generally weak. Operating cash flow is negative in most years (including FY2023–FY2025), with only FY2022 showing a meaningful positive inflow. Free cash flow is also mostly negative (including a large outflow in FY2020), suggesting ongoing cash burn and limited internally funded flexibility.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	-28.74M	0.00	80.58M	371.12M	656.53M	440.13M
Gross Profit	-196.01M	-179.64M	80.40M	-324.66M	-40.71M	-146.97M
EBITDA	102.74M	97.54M	128.17M	-81.71M	106.56M	-923.56M
Net Income	-68.19M	-63.07M	-34.54M	-246.80M	-62.82M	-1.10B
Balance Sheet
Total Assets	0.00	16.08B	16.12B	16.15B	16.44B	17.37B
Cash, Cash Equivalents and Short-Term Investments	14.26M	15.44M	8.37M	8.98M	15.47M	8.74M
Total Debt	0.00	7.73B	7.71B	7.70B	7.67B	7.71B
Total Liabilities	-8.21B	7.87B	7.85B	7.84B	7.88B	8.75B
Stockholders Equity	8.21B	8.21B	8.28B	8.31B	8.56B	8.62B
Cash Flow
Free Cash Flow	0.00	-170.87M	-105.05M	-127.67M	121.26M	-90.25M
Operating Cash Flow	0.00	-170.87M	-105.05M	-127.67M	121.26M	-90.25M
Investing Cash Flow	0.00	150.72M	90.88M	91.18M	-68.54M	67.48M
Financing Cash Flow	0.00	20.05M	13.56M	30.00M	-46.04M	21.28M

Seya Industries Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AARTISURF	69 Neutral	₹3.61B	19.53	―	0.25%	28.46%	-2.09%
MANAKSIA	67 Neutral	₹4.24B	8.13	―	―	51.38%	-19.06%
KHAICHEM	62 Neutral	₹6.60B	9.17	―	―	67.43%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MANORG	55 Neutral	₹3.94B	16.29	―	―	22.53%	237.55%
SEYAIND	44 Neutral	₹451.17M	-6.07	―	―	―	―