Asahi Songwon Colors Ltd.

•

asahisongwon.comBSE: 532853NSE: ASAHISONG

Market Cap₹ 437 Cr.

Current Price

High / Low₹ 414 / 180

Stock P/E12.6

Book Value₹ 246

Price to Book1.53

Dividend Yield0.40 %

ROCE9.7 %

ROE6.9 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Pigments: 82.0% • API: 18.0%

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Latest quarter profit grew 633.2% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 6.89x)
Company has a consistent dividend-paying track record

CONS

Company has a low return on equity of 1.9% over last 3 years
Company has a low return on capital employed of 5.3%
Company has delivered a poor profit growth of -5.9% over past five years
Expensive relative to growth - PEG of 2.6

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsDyes & Pigments

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SUDARSCHEM	1249.00	137.35	9944.08	0.40	103.40	88.00	2642.10	5.39	5.99	10.29
2.	KIRIINDUS	579.05	0.65	3773.55	0.00	290.70	186.82	312.36	54.54	110.39	11.71
3.	BODALCHEM	150.65	27.63	1897.35	0.00	30.38	218.67	709.04	56.11	5.06	9.72
4.	VIDHIING	345.60	32.42	1726.10	0.43	17.12	34.74	146.28	66.42	18.78	17.78
5.	SHREEPUSHK	476.75	21.39	1541.70	0.44	22.93	9.40	280.07	10.04	11.81	11.40
6.	ULTRAMAR	434.90	13.77	1269.91	1.38	31.59	56.46	239.96	30.14	11.10	18.95
7.	SUDARCOLOR	387.20	2.94	893.73	0.00	20.36	19.13	222.39	5.54	11.00	11.51
8.	ASAHISONG	370.95	12.55	437.25	0.40	19.03	633.22	188.91	26.04	9.72	16.84
9.	DYNPRO	238.75	14.60	296.73	0.63	5.19	7.92	86.43	-6.99	11.27	14.60
10.	PODDARMENT	253.05	17.61	268.49	1.58	46.47	1015.73	901.30	887.64	5.83	5.95
11.	HPIL	127.90	94.10	146.11	0.00	0.25	-86.19	26.76	-38.75	6.36	2.88
12.	ISHANCH	45.34	0.00	123.80	0.00	0.15	-48.33	41.48	154.63	4.08	8.10

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	103	95	102	126	134	142	134	153	150	121	121	144	189
	104	90	97	117	121	128	122	136	139	111	110	125	164
Operating Profit	-1	5	5	9	14	13	12	17	11	10	10	20	25
OPM %	-0.87%	5.66%	4.87%	6.98%	10.24%	9.53%	8.88%	11.17%	7.04%	7.86%	8.50%	13.55%	13.00%
	1	27	0	1	1	1	2	1	1	2	0	3	1
Interest	3	3	3	4	4	4	4	4	3	3	3	3	3
Depreciation	4	4	4	5	5	5	5	5	5	5	5	5	5
Profit before Tax	-7	25	-1	1	6	5	4	9	4	4	3	15	25
Tax %	19.09%	9.77%	-62.60%	29.46%	27.48%	38.78%	47.37%	25.05%	38.53%	41.83%	14.66%	28.20%	24.95%
Net Profit	0	0	0	0	4	3	2	7	3	2	2	11	19
	-3.95	20.00	-0.87	1.83	4.39	3.26	2.63	6.48	2.68	1.91	2.11	9.22	16.32

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	294	284	283	411	505	426	562	575
	254	249	234	379	499	408	506	511
Operating Profit	40	34	50	32	5	18	56	64
OPM %	13.46%	12.13%	17.49%	7.78%	1.05%	4.28%	9.99%	11.11%
	0	1	5	6	6	28	4	6
Interest	5	4	2	5	14	13	16	12
Depreciation	8	8	9	12	15	16	19	19
Profit before Tax	26	23	44	21	-18	18	25	47
Tax %	30.29%	1.90%	26.79%	29.84%	-4.10%	12.70%	32.51%	26.72%
Net Profit	18	23	32	15	-18	16	17	34
EPS	0.00	0.00	26.29	16.10	-9.83	17.01	16.76	—
Dividend Payout %	20.12%	16.13%	13.07%	3.11%	-5.06%	2.94%	8.95%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 15%
3 Years:: 11%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: -3%
3 Years:: 1%

STOCK PRICE CAGR

10 Years:: 8%
5 Years:: 2%
3 Years:: 18%
1 Year:: 28%

RETURN ON EQUITY

10 Years:: —
5 Years:: 5%
3 Years:: 2%
Last Year:: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	12	12	12	12	12	12	12
Minority Interest	0	14	47	42	41	30	27
	181	189	215	230	207	224	243
	62	22	50	87	180	171	151
Trade Payables	31	24	42	73	81	80	110
	22	17	23	22	24	54	40
Total Liabilities	309	278	389	468	545	570	584
	150	129	213	235	275	306	305
Capital Work in Progress	1	11	9	0	25	11	0
	14	13	2	1	1	1	0
	62	29	49	106	86	85	87
	0	0	0	0	0	122	148
Cash & Bank	3	4	2	4	9	3	6
	78	92	115	120	149	43	37
Total Assets	309	278	389	468	545	570	584

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	34	60	17	9	34	9	58
Cash from Investing	-3	-16	-60	-28	-77	-13	-5
Cash from Financing	-24	-39	50	28	47	4	-49
	-0	2	-2	-0	0	-0	3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	14.91	18.60	26.78	16.10	-9.88	17.01	16.76
Book Value (₹)	157.75	164.29	189.16	201.47	185.44	199.86	216.37
Dividend per Share (₹)	3.00	3.00	3.50	0.50	0.50	0.50	1.50
Cash EPS (₹)	21.56	25.38	33.79	22.12	-3.06	27.03	30.23
PROFITABILITY
Operating Margin %	13.48%	12.40%	17.60%	9.14%	2.21%	4.28%	9.99%
Net Margin %	6.23%	8.05%	11.29%	3.57%	-3.66%	3.67%	3.00%
ROE %	9.45%	11.55%	14.89%	6.24%	-8.01%	6.89%	6.87%
ROCE %	12.29%	11.23%	18.20%	8.43%	-1.02%	7.33%	9.72%
	5.92%	7.78%	9.58%	3.42%	-3.65%	2.80%	2.92%
EFFICIENCY
Debtor Days	68	71	86	75	71	98	88
Inventory Days	77	59	50	69	70	73	56
Payable Days	66	59	77	82	75	97	95
	79	71	59	62	66	74	49
FINANCIAL HEALTH
Debt to Equity (x)	0.32x	0.11x	0.22x	0.36x	0.82x	0.84x	0.65x
Interest Coverage (x)	6.07x	7.47x	23.48x	5.42x	-0.27x	2.43x	2.52x
	1.84x	3.21x	1.79x	1.62x	1.12x	1.15x	1.21x
GROWTH
Revenue Growth %	0.00%	-3.40%	-0.20%	45.13%	22.81%	-15.52%	31.94%
Operating Profit Growth %	0.00%	-11.10%	41.61%	-24.60%	-70.34%	89.13%	185.74%
Net Profit Growth %	0.00%	24.77%	39.95%	-54.14%	-226.06%	184.66%	7.80%
	0.00%	0.00%	0.00%	0.00%	0.00%	272.09%	-1.46%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	19.03x	19.81x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	1.62x	1.53x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.15%	0.45%
	0.00x	0.00x	0.00x	0.00x	0.00x	27.34x	9.13x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	66.77	66.83	66.83	66.83	66.83	67.00	67.00	67.00	67.00
	0.07	0.07	0.00	0.00	0.00	0.08	0.00	0.05	0.01
	0.00	0.21	0.00	0.00	0.00	0.03	0.30	0.31	0.32
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	33.16	32.90	33.17	33.17	33.17	32.89	32.71	32.65	32.67

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-26

Shareholders meeting

2026-08-26 - Asahi Songwon Colors Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on August 25, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-25

Shareholders meeting

2026-08-25 - Asahi Songwon Colors Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on August 25, 2026

2026-08-05

Press Release

2026-08-05 - Asahi Songwon Colors Limited has informed the Exchange regarding a press release dated August 05, 2026, titled "Press Release on the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2026".

2026-08-05

Copy of Newspaper Publication

2026-08-05 - Asahi Songwon Colors Limited has informed the Exchange about Copy of Newspaper Publication about notice of extra ordinary general meeting.

2026-07-31

Shareholders meeting

2026-07-31 - Asahi Songwon Colors Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on August 25, 2026

2026-07-30

Copy of Newspaper Publication

2026-07-30 - Asahi Songwon Colors Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-29

Appointment

2026-07-29 - Asahi Songwon Colors Limited has informed the Exchange regarding Appointment of Mr. Sanjay Srivastava as Non- Executive Independent Director of the company w.e.f. July 29, 2026.

2026-07-29

Outcome of Board Meeting

2026-07-29 - Asahi Songwon Colors Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-15

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-15 - Asahi Songwon Colors Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

News

Recent coverage and analyst commentary for ASAHISONG

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Asahi Songwon Colors Ltd.

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Free 5nance Account

Name

SUDARSCHEM

1249.00

137.35

9944.08

0.40

103.40

88.00

2642.10

5.39

5.99

10.29

KIRIINDUS

579.05

0.65

3773.55

0.00

290.70

186.82

312.36

54.54

110.39

11.71

BODALCHEM

150.65

27.63

1897.35

0.00

30.38

218.67

709.04

56.11

5.06

9.72

VIDHIING

345.60

32.42

1726.10

0.43

17.12

34.74

146.28

66.42

18.78

17.78

SHREEPUSHK

476.75

21.39

1541.70

0.44

22.93

9.40

280.07

10.04

11.81

11.40

ULTRAMAR

434.90

13.77

1269.91

1.38

31.59

56.46

239.96

30.14

11.10

18.95

SUDARCOLOR

387.20

2.94

893.73

0.00

20.36

19.13

222.39

5.54

11.00

11.51

ASAHISONG

370.95

12.55

437.25

0.40

19.03

633.22

188.91

26.04

9.72

16.84

DYNPRO

238.75

14.60

296.73

0.63

5.19

7.92

86.43

-6.99

11.27

14.60

PODDARMENT

253.05

17.61

268.49

1.58

46.47

1015.73

901.30

887.64

5.83

5.95

HPIL

127.90

94.10

146.11

0.00

0.25

-86.19

26.76

-38.75

6.36

2.88

ISHANCH

45.34

0.00

123.80

0.00

0.15

-48.33

41.48

154.63

4.08

8.10

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

103

102

126

134

142

134

153

150

121

144

189

104

117

121

128

122

136

139

111

110

125

164

Operating Profit

-1

OPM %

-0.87%

5.66%

4.87%

6.98%

10.24%

9.53%

8.88%

11.17%

7.04%

7.86%

8.50%

13.55%

13.00%

Interest

Depreciation

Profit before Tax

-7

-1

Tax %

19.09%

9.77%

-62.60%

29.46%

27.48%

38.78%

47.37%

25.05%

38.53%

41.83%

14.66%

28.20%

24.95%

Net Profit

-3.95

20.00

-0.87

1.83

4.39

3.26

2.63

6.48

2.68

1.91

2.11

9.22

16.32

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

294

284

283

411

505

426

562

575

254

249

234

379

499

408

506

511

Operating Profit

OPM %

13.46%

12.13%

17.49%

7.78%

1.05%

4.28%

9.99%

11.11%

Interest

Depreciation

Profit before Tax

-18

Tax %

30.29%

1.90%

26.79%

29.84%

-4.10%

12.70%

32.51%

26.72%

Net Profit

-18

EPS

0.00

26.29

16.10

-9.83

17.01

16.76

—

Dividend Payout %

20.12%

16.13%

13.07%

3.11%

-5.06%

2.94%

8.95%

—

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Minority Interest

181

189

215

230

207

224

243

180

171

151

Trade Payables

110

Total Liabilities

309

278

389

468

545

570

584

150

129

213

235

275

306

305

Capital Work in Progress

106

122

148

Cash & Bank

115

120

149

Total Assets

309

278

389

468

545

570

584

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Cash from Investing

-3

-16

-60

-28

-77

-13

-5

Cash from Financing

-24

-39

-49

-0

-2

-0

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

14.91

18.60

26.78

16.10

-9.88

17.01

16.76

Book Value (₹)

157.75

164.29

189.16

201.47

185.44

199.86

216.37

Dividend per Share (₹)

3.00

3.50

0.50

1.50

Cash EPS (₹)

21.56

25.38

33.79

22.12

-3.06

27.03

30.23

PROFITABILITY

Operating Margin %

13.48%

12.40%

17.60%

9.14%

2.21%

4.28%

9.99%

Net Margin %

6.23%

8.05%

11.29%

3.57%

-3.66%

3.67%

3.00%

ROE %

9.45%

11.55%

14.89%

6.24%

-8.01%

6.89%

6.87%

ROCE %

12.29%

11.23%

18.20%

8.43%

-1.02%

7.33%

9.72%

5.92%

7.78%

9.58%

3.42%

-3.65%

2.80%

2.92%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

FINANCIAL HEALTH

Debt to Equity (x)

0.32x

0.11x

0.22x

0.36x

0.82x

0.84x

0.65x

Interest Coverage (x)

6.07x

7.47x

23.48x

5.42x

-0.27x

2.43x

2.52x

1.84x

3.21x

1.79x

1.62x

1.12x

1.15x

1.21x

GROWTH

Revenue Growth %

0.00%

-3.40%

-0.20%

45.13%

22.81%

-15.52%

31.94%

Operating Profit Growth %

0.00%

-11.10%

41.61%

-24.60%

-70.34%

89.13%

185.74%

Net Profit Growth %

0.00%

24.77%

39.95%

-54.14%

-226.06%

184.66%

7.80%

0.00%

272.09%

-1.46%

VALUATION

P/E (x)

0.00x

19.03x

19.81x

P/B (x)

0.00x

1.62x

1.53x

Dividend Yield %

0.00%

0.15%

0.45%

0.00x

27.34x

9.13x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

66.77

66.83

67.00

0.07

0.00

0.08

0.00

0.05

0.01

0.00

0.21

0.00

0.03

0.30

0.31

0.32

Government

0.00

33.16

32.90

33.17

32.89

32.71

32.65

32.67

Asahi Songwon Colors Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Asahi Songwon Colors Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI