Asahi Songwon Colors Ltd.

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asahisongwon.comBSE: 532853NSE: ASAHISONG

Market Cap₹ 437 Cr.

Current Price

High / Low₹ 414 / 180

Stock P/E12.9

Book Value₹ 275

Price to Book1.36

Dividend Yield0.40 %

ROCE12.1 %

ROE9.3 %

Face Value₹ 10

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ABOUT

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 205.7% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.98x)
Company generates healthy free cash flow
Company has a consistent dividend-paying track record
Company maintains a comfortable, low leverage position

CONS

Company has a low return on equity of 6.0% over last 3 years
Company has a low return on capital employed of 8.1%
Company has delivered a poor profit growth of 2.2% over past five years
Company has delivered a poor sales growth of 6.6% over past five years

* 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

Standalone Figures in Rs. Crores / View Consolidated

	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
	68	58	67	84	90	99	94	107	106	73	74	91	136
	68	53	63	76	80	89	85	93	97	67	67	78	115
Operating Profit	0	5	4	8	10	11	9	14	9	6	7	13	20
OPM %	0.01%	8.38%	6.05%	9.62%	11.50%	10.82%	9.61%	13.39%	8.77%	8.22%	9.43%	14.14%	15.07%
	1	27	1	2	2	2	3	2	2	3	1	5	2
Interest	2	2	1	2	2	2	2	2	1	1	1	1	1
Depreciation	3	3	3	3	3	3	3	2	2	2	2	2	2
Profit before Tax	-4	28	1	5	8	8	7	12	8	5	5	14	23
Tax %	24.86%	10.14%	74.29%	26.58%	24.97%	25.83%	34.63%	23.08%	29.43%	29.49%	21.68%	28.84%	25.42%
Net Profit	-3	25	0	4	6	6	5	9	6	4	4	10	17
	-2.29	20.96	0.31	3.35	4.79	5.14	3.86	7.83	4.69	3.07	3.00	8.29	14.37

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	224	253	293	294	284	283	401	337	277	390	374
	185	206	254	254	249	235	363	329	260	346	328
Operating Profit	39	47	38	40	34	48	38	8	17	44	46
OPM %	17.40%	18.62%	13.08%	13.46%	12.13%	17.01%	9.45%	2.42%	6.09%	11.39%	12.39%
	4	3	4	0	1	7	6	6	31	8	11
Interest	4	3	4	5	4	2	3	9	7	8	5
Depreciation	7	7	7	8	8	8	9	10	10	10	10
Profit before Tax	31	40	32	26	23	45	32	-5	31	35	46
Tax %	33.15%	32.07%	27.81%	30.29%	1.91%	26.41%	24.99%	-1.38%	14.26%	26.46%	26.52%
Net Profit	21	27	23	18	23	33	24	-5	26	25	34
EPS	0.00	0.00	0.00	0.00	0.00	27.11	20.11	-3.97	22.34	21.62	—
Dividend Payout %	11.70%	13.43%	15.95%	20.12%	16.13%	12.78%	2.49%	-12.51%	2.24%	6.94%	—

COMPOUNDED SALES GROWTH

10 Years:: 5%
5 Years:: 7%
3 Years:: -1%

COMPOUNDED PROFIT GROWTH

10 Years:: 4%
5 Years:: 2%
3 Years:: 2%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: 11%
5 Years:: 9%
3 Years:: 6%
Last Year:: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	12	12	12	12	12	12	12	12	12	12
	124	146	169	181	189	221	240	224	250	275
	44	35	77	62	22	44	52	97	82	50
Trade Payables	19	30	36	31	24	41	63	49	43	73
	21	23	25	22	29	20	22	20	29	29
Total Liabilities	220	247	319	309	276	338	390	402	416	439
	93	94	141	150	129	138	154	151	122	112
Capital Work in Progress	6	10	15	1	2	0	0	0	0	0
	26	30	19	14	27	51	50	98	107	107
	19	43	36	62	29	46	80	46	50	54
	0	0	0	0	0	0	0	0	78	96
Cash & Bank	3	3	2	3	2	2	4	4	2	5
	73	67	106	78	87	101	101	104	57	65
Total Assets	220	247	319	309	276	338	390	402	416	439

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	38	38	16	34	77	14	34	49	-4	51
Cash from Investing	-15	-12	-44	-3	-21	-16	-25	-70	19	-7
Cash from Financing	-17	-17	38	-24	-53	11	1	24	-15	-40
	-0	0	-0	-0	0	-0	-0	0	-0	3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	17.10	22.35	18.80	14.91	18.60	27.39	20.11	-4.00	22.34	21.62
Book Value (₹)	110.83	129.17	148.01	157.75	164.26	193.42	209.74	199.76	222.07	243.45
Dividend per Share (₹)	2.00	3.00	3.00	3.00	3.00	3.50	0.50	0.50	0.50	1.50
Cash EPS (₹)	22.57	28.15	24.69	21.56	25.38	34.40	27.43	4.50	31.10	30.25
PROFITABILITY
Operating Margin %	18.63%	19.29%	14.54%	13.48%	12.40%	17.90%	11.05%	4.17%	6.09%	11.39%
Net Margin %	9.18%	10.52%	7.85%	6.23%	8.05%	11.64%	6.03%	-1.40%	9.52%	6.53%
ROE %	16.52%	18.62%	13.57%	9.75%	11.55%	15.17%	9.98%	-1.93%	10.59%	9.29%
ROCE %	20.68%	23.08%	15.71%	12.23%	11.23%	18.68%	12.21%	1.27%	10.93%	12.14%
	9.71%	11.75%	8.15%	5.82%	7.80%	10.72%	6.65%	-1.19%	6.44%	5.97%
EFFICIENCY
Debtor Days	75	68	78	84	71	86	75	85	97	82
Inventory Days	38	44	49	61	59	48	58	68	63	49
Payable Days	62	67	69	72	59	76	75	88	91	84
	51	45	59	73	71	58	58	65	70	46
FINANCIAL HEALTH
Debt to Equity (x)	0.33x	0.22x	0.42x	0.32x	0.11x	0.19x	0.21x	0.41x	0.34x	0.20x
Interest Coverage (x)	7.98x	15.36x	10.05x	6.07x	7.47x	24.32x	10.92x	0.46x	5.61x	5.59x
	1.54x	1.71x	1.45x	1.84x	2.33x	1.81x	1.74x	1.14x	1.24x	1.35x
GROWTH
Revenue Growth %	-6.52%	13.20%	15.40%	0.38%	-3.40%	-0.25%	41.76%	-15.94%	-17.97%	41.09%
Operating Profit Growth %	14.51%	18.12%	-15.09%	-7.35%	-11.10%	43.99%	-12.54%	-68.30%	57.26%	137.15%
Net Profit Growth %	18.58%	30.70%	-15.86%	-20.72%	24.76%	44.30%	-26.56%	-119.47%	659.01%	-3.19%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	659.01%	-3.19%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	14.49x	15.35x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.46x	1.36x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.15%	0.45%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	21.24x	8.46x

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

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