Aksharchem (India) Ltd.

AKSHARCHEMNSEChemicalsDyes & PigmentsSmall Cap

₹248.37

▲ 12.92%

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Composite

The company is engaged in the business of manufacturing dyes intermediates and pigments that are sold in India and exported many countries worldwide.

www.aksharchemindia.comSector: ChemicalsIndustry: Dyes & Pigments

Q-DITS fundamental score

59Composite

Growth

Profitability

Valuation

Quality

Solvency

100

Earnings

Key metrics

MCap

₹201 Cr

TTM PE

12.1x

Industry PE

3.1x

TTM EPS

₹20.71

Book Value

—

Face Value

₹10

Div Yield

0.2%

PEG

1.12x

1.4x

ROE

21.3%

ROCE

27.7%

EBITDA mgn

17.6%

D/E

0.37

Int. Cover

8.7x

Curr. Ratio

1.28x

EPS

₹22.75

Growth — CAGR across horizons

Metric	1Y	3Y	5Y	10Y
Net Sales	7.6%	3.6%	8.6%	7.1%
EBITDA	-31.5%	3.3%	-6.6%	-6.2%
Net Profit	-112.7%	10.8%	—	—

Score snapshot

Piotroski

6/9

Altman Z

4.27

Quality

73.5

Growth

20.4

Valuation

Earn. Qual

46.6

PEAD

SURGE

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Revenue, profitability & returns

Revenue & Net Profit (₹ Cr)

RevenueNet Profit

Margins (%)

EBITDA%PAT%

Return ratios (%)

ROEROCEROA

Annual financials — last 2 years

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Metric	2015	2016
›RevenueCr	200	188
›EBITDACr	31	34
›EBITDA margin	15.2%	17.6%
›Net profitCr	16	17
›PAT margin	7.9%	8.7%
›EPS₹	₹21.88	₹22.75
›Revenue growth	0%	-6.1%
›PAT growth	0%	4%
›ROE	22.4%	21.3%
›ROCE	28%	27.7%
›ROA	10.9%	11%
›P/E	7.2x	7.2x
›P/B	1.6x	1.4x
›D/E	0.3	0.4
›Current ratio	1.1x	1.3x
›Interest cover	8.2x	8.7x

Quarterly results

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Metric	2023-12	2024-03	2024-06	2024-09	2024-12	2025-03	2025-06	2025-09	2025-12	2026-03
›RevenueCr	75	82	86	79	91	91	97	89	80	106
›Rev growth YoY	16%	26.3%	19.9%	7.7%	20.5%	10.9%	12.9%	13.1%	-11.4%	16.6%
›EBITDACr	5	0	6	6	6	6	6	2	3	5
›EBITDA margin	6.6%	0.5%	7.3%	7.6%	7%	6.9%	6.6%	2.6%	3.7%	5%
›Net profitCr	0	-6	1	1	1	1	1	-1	-5	5
›PAT growth YoY	123%	-206.1%	121.4%	113.7%	263.9%	123%	-38.3%	-231.7%	-488%	248.8%
›EPS₹	₹0.41	₹-7.5	₹1.43	₹1.29	₹1.48	₹1.73	₹0.89	₹-1.71	₹-5.75	₹6.02

Balance sheet — last 2 years (₹ Cr)

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Metric	2015	2016
›Shareholders' equityCr	71	85
›ReservesCr	64	78
›Total borrowingsCr	0	0
›InvestmentsCr	20	24
›Total assetsCr	75	92
›Current assetsCr	70	71
›Current liabilitiesCr	65	55
›Trade payablesCr	38	29
›Gross blockCr	79	85

Cash flow statement (₹ Cr)

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Metric	2015	2016
›Operating CF (CFO)Cr	28	13
›Investing CF (CFI)Cr	-13	-11
›Financing CF (CFF)Cr	-15	-2
›Net cash changeCr	0	-0
›Closing cashCr	1	1

Cash flow components

CFO · CFI · CFF (₹ Cr)

CFOCFICFF

Q-DITS scorecard

Composite score

Quality (25%)73.5

Growth (25%)20.4

Valuation (20%)81

Piotroski (15%)67

Earnings Quality (10%)46.6

Momentum (5%)—

Weighted blend, rescaled to the components available for this stock.

Piotroski F-Score

6/9

✓ROA positiveROA 11.03%

✓CFO positiveCFO ₹13.3 Cr

✓ROA improving10.92% → 11.03%

✗CFO > PAT (low accruals)CFO 13.3 vs PAT 16.64

✗Leverage decreasedD/E 0.34 → 0.37

✓Liquidity improvedCR 1.08 → 1.28

✓No share dilutionEPS 21.88 → 22.75

✓Margin improvedEBITDA mgn 15.2% → 17.58%

✗Asset turnover upAsset TO 1.38 → 1.26

Altman Z-Scoresafe

4.27

0.168

0.849

0.32

0.929

2.051

>2.9 safe · 1.23–2.9 grey · <1.23 distress

Quality

73.5/100

ROE

21.3%

ROCE

27.7%

Margin

8.7%

Debt

0.4

Int. cover

8.7x

Growth

20.4/100

Revenue 3Y

3.6%

Profit 3Y

10.8%

EPS

Valuation

81/100

7.2x

1.4x

EV/EBITDA

4.5x

vs universe median: PE 25.6x · PB 2.81x · EV 13.41x

Earnings quality

46.6/100

CFO₹13 Cr

PAT₹17 Cr

Accrual ratio0.036

CFO/PAT0.8x

PEAD · SURGE

+2 / +2

Revenue SUE0.37

EPS SUE2.11

Latest quarter2026-03

Rev growth YoY16.6%

Shareholding pattern

Promoter62.7%

FII/FPI0%

DII0.1%

Public37.3%

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Metric	2024-03	2024-06	2024-09	2024-12	2025-03	2025-06	2025-09	2025-12	2026-03
›Promoter	62.7%	62.7%	62.7%	62.7%	62.7%	62.7%	62.7%	62.7%	62.7%
›FII / FPI	0.4%	0.4%	0.1%	0%	0%	0%	0%	0%	0%
›DII	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%
›Public / Retail	37.3%	37.3%	37.3%	37.3%	37.3%	37.3%	37.3%	37.3%	37.3%
›Promoter pledge	0%	0%	0%	0%	0%	0%	0%	0%	0%

Documents & filings

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Peer comparison

Company	MCap (Cr)	Revenue	PAT	PE	PB	ROE%	ROCE%	D/E
Sudarshan Chemical Industries Ltd.	7,281	9,787	12	326.5x	2.1x	2.6	4.2	0.61
Kiri Industries Ltd.	2,569	840	5,379	0.5x	0.4x	9.1	10.7	0.37
Vidhi Specialty Food Ingredients Ltd.	1,423	380	49	29.1x	4.3x	14.9	18.8	0.21
Shree Pushkar Chemicals & Fertilisers Ltd.	1,277	977	70	18.2x	2.1x	11.6	11.8	0.18
Ultramarine & Pigments Ltd.	1,086	775	81	13.4x	1.2x	8	10.5	0.09
Bhageria Industries Ltd.	988	874	44	21.4x	1.7x	7.2	9.7	0.08
Bodal Chemicals Ltd.	885	2,012	48	18.5x	0.8x	1.7	5.1	0.82