Seya Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2017 • Fine & Speciality Chemical Intermediaries: 99.3% • Pharmaceutical Intermediaries: 0.5% • Inorganic Intermediaries: 0.1%
AI Sector View
AI GENERATEDChemicals
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.
PROS
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.17x)
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on capital employed of -0.8%
- Company has a low return on equity of -1.4% over last 3 years
- Interest coverage is weak at 0.0x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 21410.70 | 97.29 | 193745.54 | 0.05 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1632.00 | 62.71 | 166117.97 | 1.32 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2605.00 | 35.72 | 77218.67 | 0.35 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4691.60 | 83.80 | 51537.23 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8697.20 | 56.51 | 44623.69 | 0.17 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1155.90 | 33.12 | 38936.61 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| DEEPAKNTR | 1727.25 | 30.08 | 23558.49 | 0.43 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| AETHER | 1656.35 | 93.47 | 21984.38 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| ATUL | 6465.50 | 23.93 | 19035.57 | 0.46 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| AARTIIND | 501.75 | 34.27 | 18199.81 | 0.20 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| DEEPAKFERT | 1356.30 | 17.46 | 17179.29 | 0.74 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| SEYAIND | 12.03 | 19.83 | 31.96 | 0.00 | -0.72 | -15.32 | 0.00 | — | -0.51 | — |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 3 | 1 | 2 | 3 | 2 | 0 | -5 | 0 | 0 | 0 | 0 | 0 | |
| 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 5 | |
| Operating Profit | 1 | 2 | 0 | 0 | 2 | 1 | -1 | -6 | -1 | -1 | -0 | -1 | -5 |
| OPM % | 44.69% | 66.99% | 20.00% | 27.92% | 66.20% | 57.02% | — | 122.91% | — | — | — | — | — |
| 2 | 2 | 2 | 3 | 2 | 2 | 3 | 6 | 5 | 4 | 4 | 4 | 4 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 4 | 5 | 5 | 4 | 4 | 5 | 5 | 4 | 6 | 4 | 4 | 4 | 4 |
| Profit before Tax | -1 | -1 | -2 | -1 | -1 | -1 | -2 | -5 | -1 | -1 | -1 | -1 | -1 |
| Tax % | 30.00% | 66.15% | 18.30% | 53.25% | 81.03% | 60.49% | 24.62% | 9.45% | 54.01% | 35.42% | 45.13% | 41.18% | 43.04% |
| Net Profit | -1 | -0 | -2 | -0 | -0 | -0 | -1 | -4 | -1 | -1 | -1 | -1 | -1 |
| -0.37 | -0.08 | -0.72 | -0.14 | -0.04 | -0.12 | -0.55 | -1.66 | -0.23 | -0.35 | -0.23 | -0.27 | -0.27 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 275 | 309 | 346 | 413 | 258 | 44 | 66 | 37 | 8 | 0 | 0 | |
| 227 | 235 | 241 | 275 | 190 | 45 | 56 | 54 | 4 | 5 | 7 | |
| Operating Profit | 48 | 74 | 105 | 138 | 68 | -1 | 9 | -17 | 4 | -5 | -7 |
| OPM % | 17.53% | 23.95% | 30.45% | 33.49% | 26.23% | -1.88% | 14.14% | -46.34% | 46.37% | — | — |
| 2 | 1 | 1 | 2 | 9 | -92 | 1 | 9 | 9 | 15 | 15 | |
| Interest | 13 | 14 | 18 | 18 | 8 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 11 | 14 | 15 | 16 | 17 | 18 | 18 | 18 | 18 | 18 | 18 |
| Profit before Tax | 26 | 47 | 74 | 106 | 52 | -110 | -7 | -26 | -5 | -8 | -5 |
| Tax % | -1.29% | 10.07% | 28.73% | 16.71% | 9.52% | 0.81% | 15.27% | 5.54% | 32.79% | 23.17% | 40.88% |
| Net Profit | 27 | 42 | 52 | 88 | 47 | -110 | -6 | -25 | -3 | -6 | -3 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 17.69 | -41.24 | -2.36 | -9.29 | -1.31 | -2.37 | — |
| Dividend Payout % | 4.35% | 4.82% | 4.70% | 4.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -27%
- 3 Years:
- -21%
- 1 Year:
- -28%
RETURN ON EQUITY
- 10 Years:
- 7%
- 5 Years:
- -3%
- 3 Years:
- -1%
- Last Year:
- -1%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | 20 | 25 | 25 | 25 | 27 | 27 | 27 | 27 | 27 | |
| 78 | 280 | 716 | 801 | 945 | 835 | 829 | 805 | 801 | 795 | |
| 440 | 391 | 528 | 649 | 781 | 790 | 769 | 770 | 771 | 773 | |
| Trade Payables | 6 | 17 | 10 | 9 | 6 | 5 | 3 | 0 | 0 | 0 |
| 173 | 72 | 31 | 119 | 31 | 81 | 30 | 26 | 14 | 14 | |
| Total Liabilities | 707 | 780 | 1,310 | 1,602 | 1,787 | 1,738 | 1,657 | 1,628 | 1,612 | 1,608 |
| 397 | 422 | 742 | 731 | 741 | 723 | 706 | 688 | 670 | 652 | |
| Capital Work in Progress | 161 | 217 | 379 | 686 | 790 | 849 | 797 | 796 | 796 | 796 |
| 28 | 31 | 33 | 31 | 26 | 19 | 22 | 7 | 7 | 7 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Cash & Bank | 2 | 3 | 16 | 3 | 2 | 2 | 2 | 2 | 1 | 1 |
| 118 | 108 | 140 | 150 | 228 | 145 | 130 | 134 | 137 | 150 | |
| Total Assets | 707 | 780 | 1,310 | 1,602 | 1,787 | 1,738 | 1,657 | 1,628 | 1,612 | 1,608 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 16 | 78 | 89 | 117 | 2 | -9 | 12 | -13 | -10 | -17 | |
| Cash from Investing | -71 | -137 | -169 | -287 | -84 | 7 | -7 | 9 | 9 | 15 |
| Cash from Financing | 55 | 68 | 109 | 180 | 81 | 2 | -5 | 3 | 1 | 2 |
| 0 | 0 | 13 | -13 | -1 | -0 | 1 | -1 | -0 | -0 |
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 (₹) | 22.97 | 20.75 | 21.30 | 35.97 | 19.11 | -41.24 | -2.36 | -9.29 | -1.31 | -2.37 |
| Book Value (₹) | 80.56 | 147.46 | 300.95 | 335.75 | 394.18 | 324.44 | 322.07 | 312.79 | 311.48 | 309.11 |
| Dividend per Share (₹) | 1.00 | 1.00 | 1.00 | 1.50 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 34.29 | 27.47 | 27.44 | 42.47 | 25.87 | -34.51 | 4.38 | -2.53 | 5.46 | 4.39 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 16.99% | 23.80% | 30.60% | 34.02% | 29.63% | 17.08% | 25.80% | -21.99% | 46.37% | 0.00% |
| Net Margin % | 9.08% | 13.44% | 15.06% | 21.44% | 18.21% | -248.98% | -9.57% | -66.50% | -43.09% | 0.00% |
| ROE % | 34.84% | 21.73% | 10.07% | 11.30% | 5.24% | -11.96% | -0.69% | -2.93% | -0.42% | -0.77% |
| ROCE % | 7.51% | 8.76% | 8.91% | 8.62% | 3.59% | -6.54% | -0.43% | -1.62% | -0.32% | -0.51% |
| 4.07% | 5.68% | 5.01% | 6.08% | 2.77% | -6.22% | -0.37% | -1.50% | -0.21% | -0.39% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 74 | 85 | 96 | 91 | 160 | 600 | 360 | 23 | 14 | 0 |
| Inventory Days | 43 | 35 | 34 | 29 | 40 | 188 | 134 | 146 | 339 | 0 |
| Payable Days | 7 | 16 | 25 | 16 | 17 | 71 | 49 | 13 | 0 | 0 |
| 110 | 103 | 105 | 103 | 184 | 717 | 444 | 156 | 353 | 0 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 1.64x | 1.30x | 0.74x | 0.81x | 0.79x | 0.89x | 0.90x | 0.93x | 0.93x | 0.94x |
| Interest Coverage (x) | 3.08x | 4.32x | 5.12x | 6.84x | 7.56x | -494.17x | -45.51x | -1388.68x | 0.00x | 0.00x |
| 2.39x | 1.63x | 1.60x | 2.83x | 1.94x | 0.91x | 0.58x | 0.35x | 0.32x | 0.29x | |
| GROWTH | ||||||||||
| Revenue Growth % | 11.17% | 12.11% | 12.17% | 19.25% | -37.45% | -82.95% | -74.57% | -43.47% | -78.29% | -100.00% |
| Operating Profit Growth % | 46.60% | 49.26% | 42.39% | 31.89% | -45.52% | -90.18% | -77.86% | -148.17% | 256.93% | -23.82% |
| Net Profit Growth % | 105.54% | 57.68% | 24.07% | 68.88% | -46.86% | -333.05% | -113.36% | -292.87% | 85.93% | -81.65% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 85.93% | -81.65% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.06x | 0.04x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 64.19x | 82.69x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-14 - Seya Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-30 - Seya Industries Limited has informed the Exchange regarding 'Compliance Certificate under regulation 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended June 30, 2026'.
2026-06-27 - The Exchange has sought clarification from Seya Industries Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.
2026-06-05 - Ashok G Rajani has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2026-05-29 - Seya Industries Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
News
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