Is the Dyes & Pigments sector outperforming NIFTY 500?
The 52-week sector comparison is unavailable. 4 of 10 covered companies currently have positive Mansfield relative strength versus NIFTY 500.
20-quarter listed-company comparison
Dyes & Pigments Stocks in India
Dyes & Pigments: Sudarshan Chemical Industries Ltd owns the largest revenue base AND the fastest current growth.
Nifty Dyes & Pigments Index — Constituents & Performance
The Dyes & Pigments companies below are the listed Indian Dyes & Pigments universe this page tracks — the same constituent set people search for as the Nifty Dyes & Pigments index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.
The sector itself · before any single company
How has Dyes & Pigments moved against NIFTY 500?
The line below covers 5.1 years. Over the most recent two of them this sector is 23% behind NIFTY 500. Earnings across its companies grew 31% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 10 weeks running.
FADING · −1 in 4w~Fundamentals up, price down3 of 8 companies ahead of NIFTY 500 by 5% or more over three months1 is 20% or more behind over a year while earnings grew 20% or more
RS ↑10w · 4/8 >200d (+1) · 3/8 lead (−1) · EPS 5/8↑
Dyes & Pigments, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Strength anatomy
MixedHow much of the sector is participating, how recently, and whether the movers score well.
Together3 of 8 stocks moving
Fresh0 crossed in the last 4 weeks
Backed by scoresmovers score −3 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large
1/20
Mid
1/30
Small
1/3−1
Participation is not spreading downward this month; the larger companies are still carrying most of it.
Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 8 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
Sector relative strength · before individual stocks
Is Dyes & Pigments outperforming NIFTY 500?
The 52-week comparison of Dyes & Pigments against NIFTY 500 is not available from the current market series. 4 of 10 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Indokem Ltd is the strongest against the sector itself at +26%. Readings are as of 2026-07-19.
—Sector vs NIFTY 500 · 13 weeks
—Sector vs NIFTY 500 · 52 weeks
4/10Stocks leading NIFTY 500
3/9Stocks leading sector
Sector metric: 20.0 as of 2026-07-19 · CONSOLIDATION · falling.
The central tension: current leadership is concentrated, so durability matters more than rank.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
The 52-week sector comparison is unavailable. 4 of 10 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Sudarshan Chemical Industries Ltd leads with revenue of ₹9,787 crore, based on 10 of 10 comparable companies through Mar 2026. Sudarshan Chemical Industries Ltd has the fastest current revenue growth at 100%, across 10 of 10 comparable companies.
Which Dyes & Pigments company is largest by revenue?
Sudarshan Chemical Industries Ltd leads with revenue of ₹9,787 crore, based on 10 of 10 comparable companies through Mar 2026.
Which Dyes & Pigments company is growing fastest?
Sudarshan Chemical Industries Ltd has the fastest current revenue growth at 100%, across 10 of 10 comparable companies.
Which Dyes & Pigments company has the strongest 4-Factor Sector Score?
Atul Ltd ranks first at 65.5/100 with 100% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Dyes & Pigments company has the least gross debt?
Indokem Ltd has the lowest comparable gross debt at ₹23 crore. Sudarshan Chemical Industries Ltd has the highest at ₹2,473 crore.
Which Dyes & Pigments company has the lowest comparable PEG?
Atul Ltd has the lowest comparable Guarded PEG at 0.69, among 2 of 10 companies that pass the metric’s comparability rules.
How much history does this Dyes & Pigments comparison include?
The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Companies
10
complete canonical membership
Combined market value
₹37.4K Cr
Atul Ltd
Revenue growing
7/10
positive TTM year-on-year growth
Beating NIFTY 500
4/10
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Atul Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 100% evidence confidence.
Sudarshan Colorants India Ltd looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.
1. Atul Ltd · ATUL
65.5/100 · Favorable setup · 100% evidence
Exact sum: 28 + 18.1 + 14 + 5.4 = 65.5
Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -4.7% and the one-year return is -11.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
28.0/35Growth & earnings
Revenue 15.8% · PAT 56.3% · OPM change 5 pp
100% evidence
18.1/25Capital efficiency
ROCE 14.9% · debt/equity 0.03×
100% evidence
14.0/20Valuation
P/E 23.7× · PEG 0.69
100% evidence
5.4/20Relative strength
RS sector -4.7% · RS bench -4% · 1Y -11.4%
100% evidence
2. Bhageria Industries Ltd · BHAGERIA
62.8/100 · Mixed-positive evidence · 81% evidence
Exact sum: 29.8 + 14.1 + 8.7 + 10.2 = 62.8
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
29.8/35Growth & earnings
Revenue 57% · PAT 55.8% · OPM change 4 pp
95% evidence
14.1/25Capital efficiency
ROCE 9.4% · debt/equity 0.18×
95% evidence
8.7/20Valuation
P/E 14.5× · PEG —
50% evidence
10.2/20Relative strength
RS sector -8.1% · RS bench 11.6% · 1Y 1%
70% evidence
3. Ultramarine & Pigments Ltd · ULTRAMAR
57.7/100 · Mixed-positive evidence · 77% evidence
Exact sum: 17 + 16.4 + 12.3 + 12 = 57.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17.0/35Growth & earnings
Revenue 11.3% · PAT 5.3% · OPM change -2 pp
83% evidence
16.4/25Capital efficiency
ROCE 10.8% · debt/equity 0.1×
95% evidence
12.3/20Valuation
P/E 14× · PEG —
50% evidence
12.0/20Relative strength
RS sector 6.6% · RS bench -13.8% · 1Y -33.4%
70% evidence
4. Bodal Chemicals Ltd · BODALCHEM
54.5/100 · Mixed-positive evidence · 76% evidence
Exact sum: 22.4 + 10.4 + 10.2 + 11.5 = 54.5
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22.4/35Growth & earnings
Revenue 15.3% · PAT 100% · OPM change 2 pp
83% evidence
10.4/25Capital efficiency
ROCE 6.7% · debt/equity 0.7×
95% evidence
10.2/20Valuation
P/E 17.9× · PEG —
15% evidence
11.5/20Relative strength
RS sector 5.2% · RS bench 5.4% · 1Y -16.3%
100% evidence
5. Indokem Ltd · INDOKEM
54.2/100 · Thin evidence · provisional · 51% evidence
Exact sum: 19.7 + 9 + 8.9 + 16.6 = 54.2
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
19.7/35Growth & earnings
Revenue 8.9% · PAT 100% · OPM change -2.8 pp
53% evidence
9.0/25Capital efficiency
ROCE 7.4% · debt/equity 0.36×
60% evidence
8.9/20Valuation
P/E 262× · PEG —
15% evidence
16.6/20Relative strength
RS sector 26% · RS bench 12.6% · 1Y 55.3%
70% evidence
6. Vidhi Specialty Food Ingredients Ltd · VIDHIING
52.7/100 · Mixed-positive evidence · 77% evidence
Exact sum: 16.1 + 18.9 + 11.4 + 6.3 = 52.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16.1/35Growth & earnings
Revenue -0.8% · PAT 13.9% · OPM change -1 pp
83% evidence
18.9/25Capital efficiency
ROCE 18.8% · debt/equity 0.18×
95% evidence
11.4/20Valuation
P/E 31.7× · PEG —
50% evidence
6.3/20Relative strength
RS sector -13% · RS bench -8% · 1Y -24.7%
70% evidence
7. Sudarshan Chemical Industries Ltd · SUDARSCHEM
44.4/100 · Mixed-negative evidence · 72% evidence
Exact sum: 19.9 + 8.5 + 9.9 + 6.1 = 44.4
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19.9/35Growth & earnings
Revenue 100% · PAT -33.3% · OPM change -1 pp
62% evidence
8.5/25Capital efficiency
ROCE 5.5% · debt/equity 0.72×
95% evidence
9.9/20Valuation
P/E 488× · PEG 1.42
65% evidence
6.1/20Relative strength
RS sector -15.9% · RS bench -1.8% · 1Y -17.7%
70% evidence
8. Sudarshan Colorants India Ltd · SUDARCOLOR
43.3/100 · Mixed-negative evidence · 83% evidence
Exact sum: 7.6 + 14 + 13.9 + 7.8 = 43.3
Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
7.6/35Growth & earnings
Revenue -5.2% · PAT -13.7% · OPM change -6 pp
83% evidence
14.0/25Capital efficiency
ROCE 11.4% · debt/equity 0.04×
95% evidence
13.9/20Valuation
P/E 17.2× · PEG —
50% evidence
7.8/20Relative strength
RS sector -15.1% · RS bench -15.4% · 1Y -37.4%
100% evidence
9. Kiri Industries Ltd · KIRIINDUS
36.9/100 · Mixed-negative evidence · 62% evidence
Exact sum: 11.9 + 9.9 + 10 + 5.1 = 36.9
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11.9/35Growth & earnings
Revenue 13.4% · PAT 100% · OPM change -55 pp
62% evidence
9.9/25Capital efficiency
ROCE -1.7% · debt/equity 0.01×
80% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
5.1/20Relative strength
RS sector -19% · RS bench -18.9% · 1Y -31.8%
100% evidence
10. Sadhana Nitro Chem Ltd · SADHNANIQ
29.8/100 · Thin evidence · provisional · 58% evidence
Exact sum: 3.2 + 4.1 + 10 + 12.5 = 29.8
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3.2/35Growth & earnings
Revenue -69.7% · PAT -80% · OPM change -277 pp
83% evidence
4.1/25Capital efficiency
ROCE -11.1% · debt/equity 0.25×
95% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
12.5/20Relative strength
RS sector — · RS bench 22.3% · 1Y —
25% evidence
01 · compare level, then change
Revenue Scale & Growth Durability
Sudarshan Chemical Industries Ltd has the highest Revenue among the 10 Dyes & Pigments companies compared here, at ₹9,787 crore. Atul Ltd is next at ₹6,644 crore. The same company also holds the highest Revenue growth, at the 100% top of the scoring scale. 10 of 10 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Sudarshan Chemical Industries Ltd is the scale leader at ₹9,787 crore, 47.3% ahead of Atul Ltd. Sudarshan Chemical Industries Ltd's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 192.6% from a ₹9,787 crore base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderSudarshan Chemical Industries Ltd · ₹9,787 crore
Gap47.3% versus #2 · Atul Ltd
Persistence8/8 recent comparable periods
Coverage10/10 companies · 150 observations
Investor read: Sudarshan Chemical Industries Ltd is the scale benchmark; Sudarshan Chemical Industries Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: Sudarshan Chemical Industries Ltd's growth falls below Sudarshan Chemical Industries Ltd's for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Sudarshan Chemical Industries Ltd SUDARSCHEM₹9.8K Cr
2Atul Ltd ATUL₹6.6K Cr
3Bodal Chemicals Ltd BODALCHEM⚠ unverified₹2.0K Cr
4Bhageria Industries Ltd BHAGERIA⚠ unverified₹1.0K Cr
5Kiri Industries Ltd KIRIINDUS₹839 Cr
Revenue growthfastest growers
1Sudarshan Chemical Industries Ltd SUDARSCHEM100%
2Bhageria Industries Ltd BHAGERIA⚠ unverified57%
3Atul Ltd ATUL16%
4Bodal Chemicals Ltd BODALCHEM⚠ unverified15%
5Kiri Industries Ltd KIRIINDUS13%
Revenue · company comparison
10/10 level · 10/10 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| Sudarshan Chemical Industries Ltd SUDARSCHEM | ₹2.8K Cr | 107% | Mar 2026 |
| Atul Ltd ATUL | ₹1.8K Cr | 25% | Jun 2026 |
| Bodal Chemicals Ltd BODALCHEM⚠ unverified | ₹588 Cr | 30% | Mar 2026 |
| Bhageria Industries Ltd BHAGERIA⚠ unverified | ₹286 Cr | 82% | Jun 2026 |
| Kiri Industries Ltd KIRIINDUS | ₹250 Cr | 22% | Mar 2026 |
| Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified | ₹211 Cr | -4.1% | Mar 2026 |
| Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified | ₹199 Cr | 2.1% | Mar 2026 |
| Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified | ₹123 Cr | 12% | Mar 2026 |
| Indokem Ltd INDOKEM | ₹42 Cr | -3.2% | Dec 2025 |
| Sadhana Nitro Chem Ltd SADHNANIQ⚠ unverified | ₹9 Cr | -82% | Mar 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Atul Ltd · ATUL
₹1.3K Cr
₹1.4K Cr
₹1.4K Cr
₹1.5K Cr
₹1.5K Cr
₹1.3K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.1K Cr
₹1.2K Cr
₹1.3K Cr
₹1.4K Cr
₹1.4K Cr
₹1.5K Cr
₹1.5K Cr
₹1.6K Cr
₹1.6K Cr
₹1.7K Cr
₹1.8K Cr
Bhageria Industries Ltd · BHAGERIA⚠ unverified
—
—
—
—
—
₹94 Cr
₹145 Cr
₹98 Cr
₹103 Cr
₹112 Cr
₹182 Cr
₹113 Cr
₹129 Cr
₹170 Cr
₹183 Cr
₹157 Cr
₹204 Cr
₹242 Cr
₹271 Cr
₹286 Cr
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
—
—
—
—
—
₹321 Cr
₹390 Cr
₹332 Cr
₹330 Cr
₹339 Cr
₹394 Cr
₹422 Cr
₹429 Cr
₹443 Cr
₹451 Cr
₹454 Cr
₹480 Cr
₹490 Cr
₹588 Cr
—
Indokem Ltd · INDOKEM
—
—
—
—
—
₹41 Cr
₹41 Cr
₹44 Cr
₹40 Cr
₹40 Cr
₹40 Cr
₹37 Cr
₹43 Cr
₹43 Cr
₹54 Cr
₹42 Cr
₹40 Cr
₹42 Cr
—
—
Kiri Industries Ltd · KIRIINDUS
—
—
—
—
—
₹204 Cr
₹222 Cr
₹227 Cr
₹231 Cr
₹160 Cr
₹269 Cr
₹183 Cr
₹173 Cr
₹179 Cr
₹205 Cr
₹202 Cr
₹213 Cr
₹174 Cr
₹250 Cr
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
—
—
—
—
—
—
₹48 Cr
₹39 Cr
₹42 Cr
₹44 Cr
₹65 Cr
₹36 Cr
₹43 Cr
₹37 Cr
₹49 Cr
₹28 Cr
₹3 Cr
₹10 Cr
₹9 Cr
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
₹498 Cr
₹602 Cr
₹627 Cr
₹554 Cr
₹528 Cr
₹528 Cr
₹691 Cr
₹608 Cr
₹601 Cr
₹566 Cr
₹764 Cr
₹634 Cr
₹696 Cr
₹666 Cr
₹1.3K Cr
₹2.5K Cr
₹2.4K Cr
₹2.1K Cr
₹2.8K Cr
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
—
—
—
—
—
₹178 Cr
₹180 Cr
₹209 Cr
₹200 Cr
₹176 Cr
₹205 Cr
₹173 Cr
₹218 Cr
₹213 Cr
₹220 Cr
₹211 Cr
₹183 Cr
₹176 Cr
₹211 Cr
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
—
—
—
—
—
₹150 Cr
₹125 Cr
₹131 Cr
₹146 Cr
₹148 Cr
₹136 Cr
₹161 Cr
₹161 Cr
₹179 Cr
₹195 Cr
₹184 Cr
₹196 Cr
₹196 Cr
₹199 Cr
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
—
—
—
—
—
₹86 Cr
₹89 Cr
₹80 Cr
₹80 Cr
₹63 Cr
₹78 Cr
₹83 Cr
₹91 Cr
₹99 Cr
₹110 Cr
₹88 Cr
₹75 Cr
₹94 Cr
₹123 Cr
—
Revenue growth · reported quarter history
Atul Ltd · ATUL
—
—
—
37%
19%
-8.1%
-13%
-20%
-20%
-10%
1.4%
12%
17%
25%
20%
12%
11%
11%
15%
25%
Bhageria Industries Ltd · BHAGERIA⚠ unverified
—
—
—
—
—
—
—
—
—
19%
26%
15%
25%
52%
0.6%
39%
58%
42%
48%
82%
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
—
—
—
—
—
—
—
—
—
5.7%
1.0%
27%
30%
31%
14%
7.6%
12%
11%
30%
—
Indokem Ltd · INDOKEM
—
—
—
—
—
—
—
—
—
-2.6%
-1.7%
-16%
7.3%
7.8%
36%
12%
-6.9%
-3.2%
—
—
Kiri Industries Ltd · KIRIINDUS
—
—
—
—
—
—
—
—
—
-22%
21%
-19%
-25%
12%
-24%
10%
23%
-2.8%
22%
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
—
—
—
—
—
—
—
—
—
—
35%
-7.7%
2.4%
-16%
-25%
-22%
-93%
-73%
-82%
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
—
—
—
17%
6.0%
-12%
10%
9.8%
14%
7.2%
11%
4.3%
16%
18%
77%
295%
243%
216%
107%
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
—
—
—
—
—
—
—
—
—
-1.3%
14%
-17%
9.0%
21%
7.3%
22%
-16%
-17%
-4.1%
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
—
—
—
—
—
—
—
—
—
-1.3%
8.8%
23%
10%
21%
43%
14%
22%
9.5%
2.1%
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
—
—
—
—
—
—
—
—
—
-27%
-12%
3.8%
14%
57%
41%
6.0%
-18%
-5.1%
12%
—
02 · compare level, then change
Operating Economics & Margin Trend
Atul Ltd has the highest OPM among the 10 Dyes & Pigments companies compared here, at 21%. Vidhi Specialty Food Ingredients Ltd is next at 17%. The same company also holds the highest Margin change, at +5 percentage points. 10 of 10 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Atul Ltd leads both opm at 21% and margin change at +5 percentage points.
LeaderAtul Ltd · 21%
Gap23.5% versus #2 · Vidhi Specialty Food Ingredients Ltd
Persistence5/8 recent comparable periods
Coverage10/10 companies · 191 observations
Investor read: Atul Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Atul Ltd ATUL21%
2Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified17%
3Bhageria Industries Ltd BHAGERIA⚠ unverified15%
4Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified13%
5Bodal Chemicals Ltd BODALCHEM⚠ unverified12%
Margin changefastest expanders
1Atul Ltd ATUL+5.0 pp
2Bhageria Industries Ltd BHAGERIA⚠ unverified+4.0 pp
3Bodal Chemicals Ltd BODALCHEM⚠ unverified+2.0 pp
4Sudarshan Chemical Industries Ltd SUDARSCHEM−1.0 pp
5Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified−1.0 pp
Operating margin · company comparison
10/10 level · 10/10 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Atul Ltd ATUL | 21% | +5.0 pp | Jun 2026 |
| Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified | 17% | −1.0 pp | Mar 2026 |
| Bhageria Industries Ltd BHAGERIA⚠ unverified | 15% | +4.0 pp | Jun 2026 |
| Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified | 13% | −2.0 pp | Mar 2026 |
| Bodal Chemicals Ltd BODALCHEM⚠ unverified | 12% | +2.0 pp | Mar 2026 |
| Sudarshan Chemical Industries Ltd SUDARSCHEM | 8.0% | −1.0 pp | Mar 2026 |
| Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified | 2.0% | −6.0 pp | Mar 2026 |
| Indokem Ltd INDOKEM | 0.4% | −2.8 pp | Dec 2025 |
| Kiri Industries Ltd KIRIINDUS | -57% | −55.0 pp | Mar 2026 |
| Sadhana Nitro Chem Ltd SADHNANIQ⚠ unverified | -250% | −277.0 pp | Mar 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Atul Ltd · ATUL
17%
18%
15%
16%
15%
14%
12%
15%
13%
13%
12%
17%
17%
16%
15%
16%
17%
16%
17%
21%
Bhageria Industries Ltd · BHAGERIA⚠ unverified
18%
23%
17%
10%
8.0%
14%
12%
6.0%
8.0%
13%
8.0%
10%
11%
16%
16%
11%
11%
8.0%
11%
15%
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
10%
12%
9.0%
11%
8.0%
7.7%
7.0%
7.0%
7.0%
7.0%
6.0%
8.0%
8.0%
10%
10%
10%
5.0%
4.0%
12%
—
Indokem Ltd · INDOKEM
3.1%
6.3%
3.8%
-4.8%
1.2%
4.5%
2.0%
2.1%
-8.5%
2.5%
1.2%
-0.5%
2.8%
3.3%
9.6%
4.3%
3.0%
0.4%
—
—
Kiri Industries Ltd · KIRIINDUS
7.8%
11%
6.0%
-3.1%
-2.9%
-8.0%
-2.0%
1.0%
-4.0%
-13%
2.0%
0.0%
-3.0%
-25%
-2.0%
-8.0%
-6.0%
-28%
-57%
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
11%
11%
7.3%
9.4%
12%
15%
20%
20%
30%
26%
14%
27%
19%
30%
27%
7.0%
-629%
-156%
-250%
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
11%
12%
14%
7.5%
8.1%
8.0%
12%
11%
11%
11%
16%
13%
14%
12%
9.0%
8.0%
6.0%
2.0%
8.0%
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
5.5%
7.5%
7.8%
7.8%
7.6%
7.2%
9.0%
12%
11%
8.0%
5.0%
6.0%
13%
12%
8.0%
12%
10%
6.0%
2.0%
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
17%
15%
16%
20%
17%
22%
16%
21%
17%
16%
15%
16%
17%
20%
15%
17%
16%
18%
13%
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
17%
16%
13%
13%
14%
15%
14%
16%
17%
23%
20%
17%
17%
19%
18%
23%
24%
20%
17%
—
Margin change · reported quarter history
Atul Ltd · ATUL
−8.6 pp
−7.3 pp
−7.8 pp
−6.1 pp
−2.7 pp
−4.2 pp
−3.0 pp
−0.8 pp
−1.8 pp
−1.0 pp
0.0 pp
+2.0 pp
+4.0 pp
+3.0 pp
+3.0 pp
−1.0 pp
0.0 pp
0.0 pp
+2.0 pp
+5.0 pp
Bhageria Industries Ltd · BHAGERIA⚠ unverified
−5.7 pp
−8.1 pp
−6.6 pp
−9.4 pp
−10.1 pp
−8.6 pp
−5.2 pp
−4.2 pp
+0.0 pp
−1.0 pp
−4.0 pp
+4.0 pp
+3.0 pp
+3.0 pp
+8.0 pp
+1.0 pp
0.0 pp
−8.0 pp
−5.0 pp
+4.0 pp
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
+3.0 pp
+1.6 pp
−1.7 pp
−0.7 pp
−2.3 pp
−4.5 pp
−2.0 pp
−3.9 pp
−1.0 pp
−0.7 pp
−1.0 pp
+1.0 pp
+1.0 pp
+3.0 pp
+4.0 pp
+2.0 pp
−3.0 pp
−6.0 pp
+2.0 pp
—
Indokem Ltd · INDOKEM
−3.4 pp
−2.2 pp
−0.9 pp
−7.8 pp
−1.9 pp
−1.8 pp
−1.8 pp
+6.9 pp
−9.7 pp
−2.0 pp
−0.8 pp
−2.6 pp
+11.3 pp
+0.7 pp
+8.4 pp
+4.8 pp
+0.2 pp
−2.8 pp
—
—
Kiri Industries Ltd · KIRIINDUS
+7.9 pp
−1.3 pp
−7.6 pp
−10.0 pp
−10.7 pp
−19.3 pp
−8.0 pp
+4.1 pp
−1.1 pp
−5.0 pp
+4.0 pp
−1.0 pp
+1.0 pp
−12.0 pp
−4.0 pp
−8.0 pp
−3.0 pp
−3.0 pp
−55.0 pp
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
−0.6 pp
+3.9 pp
−36.3 pp
−7.2 pp
+1.0 pp
+3.7 pp
+12.7 pp
+10.6 pp
+18.5 pp
+10.9 pp
−6.0 pp
+7.0 pp
−11.0 pp
+4.0 pp
+13.0 pp
−20.0 pp
−648.0 pp
−186.0 pp
−277.0 pp
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
−5.2 pp
−3.5 pp
−1.4 pp
−5.6 pp
−2.5 pp
−4.3 pp
−1.7 pp
+3.5 pp
+2.9 pp
+3.0 pp
+4.0 pp
+2.0 pp
+3.0 pp
+1.0 pp
−7.0 pp
−5.0 pp
−8.0 pp
−10.0 pp
−1.0 pp
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
−4.8 pp
−5.3 pp
−4.5 pp
−0.7 pp
+2.1 pp
−0.3 pp
+1.2 pp
+4.2 pp
+3.5 pp
+0.8 pp
−4.0 pp
−6.0 pp
+2.0 pp
+4.0 pp
+3.0 pp
+6.0 pp
−3.0 pp
−6.0 pp
−6.0 pp
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
−12.2 pp
−13.3 pp
−3.2 pp
−3.6 pp
+0.5 pp
+7.1 pp
+0.4 pp
+1.1 pp
−0.0 pp
−6.0 pp
−1.0 pp
−5.0 pp
0.0 pp
+4.0 pp
0.0 pp
+1.0 pp
−1.0 pp
−2.0 pp
−2.0 pp
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
−3.7 pp
−4.0 pp
−4.0 pp
−4.8 pp
−3.0 pp
−0.6 pp
+0.7 pp
+2.6 pp
+3.2 pp
+8.0 pp
+6.0 pp
+1.0 pp
0.0 pp
−4.0 pp
−2.0 pp
+6.0 pp
+7.0 pp
+1.0 pp
−1.0 pp
—
03 · compare level, then change
Profit Scale & Acceleration
Kiri Industries Ltd has the highest Net profit among the 10 Dyes & Pigments companies compared here, at ₹5,567 crore. Atul Ltd is next at ₹811 crore. Bodal Chemicals Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.
What the numbers say: Kiri Industries Ltd leads with ₹5,567 crore of TTM profit, 586.4% above Atul Ltd. Bodal Chemicals Ltd shows ≥100% on the scoring scale (166.7% uncapped) growth from a ₹48 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderKiri Industries Ltd · ₹5,567 crore
Gap586.4% versus #2 · Atul Ltd
Persistence4/6 recent comparable periods
Coverage10/10 companies · 150 observations
Investor read: Kiri Industries Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Kiri Industries Ltd KIRIINDUS₹5.6K Cr
2Atul Ltd ATUL₹811 Cr
3Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified₹80 Cr
4Bhageria Industries Ltd BHAGERIA⚠ unverified₹67 Cr
5Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified₹49 Cr
Profit growthfastest growers
1Bodal Chemicals Ltd BODALCHEM⚠ unverified100%
2Indokem Ltd INDOKEM · older report100%
3Atul Ltd ATUL56%
4Bhageria Industries Ltd BHAGERIA⚠ unverified56%
5Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified14%
Net profit · company comparison
10/10 level · 8/10 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| Kiri Industries Ltd KIRIINDUS | ₹514 Cr | 2,738% | Mar 2026 |
| Atul Ltd ATUL | ₹254 Cr | 92% | Jun 2026 |
| Sudarshan Chemical Industries Ltd SUDARSCHEM | ₹82 Cr | -11,700% | Mar 2026 |
| Bhageria Industries Ltd BHAGERIA⚠ unverified | ₹34 Cr | 209% | Jun 2026 |
| Bodal Chemicals Ltd BODALCHEM⚠ unverified | ₹32 Cr | 129% | Mar 2026 |
| Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified | ₹14 Cr | -18% | Mar 2026 |
| Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified | ₹13 Cr | 8.3% | Mar 2026 |
| Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified | ₹13 Cr | 18% | Mar 2026 |
| Indokem Ltd INDOKEM | ₹0 Cr | -45% | Dec 2025 |
| Sadhana Nitro Chem Ltd SADHNANIQ⚠ unverified | ₹-34 Cr | -950% | Mar 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Atul Ltd · ATUL
₹147 Cr
₹155 Cr
₹136 Cr
₹165 Cr
₹151 Cr
₹103 Cr
₹92 Cr
₹102 Cr
₹91 Cr
₹72 Cr
₹59 Cr
₹112 Cr
₹140 Cr
₹117 Cr
₹130 Cr
₹132 Cr
₹182 Cr
₹164 Cr
₹211 Cr
₹254 Cr
Bhageria Industries Ltd · BHAGERIA⚠ unverified
—
—
—
—
—
₹4 Cr
₹5 Cr
₹1 Cr
₹3 Cr
₹8 Cr
₹6 Cr
₹6 Cr
₹6 Cr
₹11 Cr
₹15 Cr
₹11 Cr
₹11 Cr
₹11 Cr
₹11 Cr
₹34 Cr
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
—
—
—
—
—
₹2 Cr
₹3 Cr
₹2 Cr
₹1 Cr
₹1 Cr
₹2 Cr
₹-1 Cr
₹0 Cr
₹5 Cr
₹14 Cr
₹10 Cr
₹6 Cr
₹0 Cr
₹32 Cr
—
Indokem Ltd · INDOKEM
—
—
—
—
—
₹1 Cr
₹-1 Cr
₹-0 Cr
₹-5 Cr
₹-0 Cr
₹-1 Cr
₹-1 Cr
₹-0 Cr
₹1 Cr
₹4 Cr
₹1 Cr
₹0 Cr
₹0 Cr
—
—
Kiri Industries Ltd · KIRIINDUS
—
—
—
—
—
₹54 Cr
₹-61 Cr
₹-3 Cr
₹19 Cr
₹135 Cr
₹-10 Cr
₹92 Cr
₹80 Cr
₹177 Cr
₹-85 Cr
₹10 Cr
₹20 Cr
₹5.0K Cr
₹514 Cr
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
—
—
—
—
—
—
₹2 Cr
₹0 Cr
₹3 Cr
₹1 Cr
₹1 Cr
₹1 Cr
₹0 Cr
₹3 Cr
₹4 Cr
₹-2 Cr
₹-26 Cr
₹-25 Cr
₹-34 Cr
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
₹23 Cr
₹36 Cr
₹45 Cr
₹7 Cr
₹5 Cr
₹1 Cr
₹33 Cr
₹267 Cr
₹18 Cr
₹15 Cr
₹58 Cr
₹29 Cr
₹30 Cr
₹1 Cr
₹0 Cr
₹55 Cr
₹19 Cr
₹-116 Cr
₹82 Cr
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
—
—
—
—
—
₹7 Cr
₹9 Cr
₹16 Cr
₹13 Cr
₹6 Cr
₹6 Cr
₹5 Cr
₹18 Cr
₹17 Cr
₹11 Cr
₹17 Cr
₹16 Cr
₹-2 Cr
₹13 Cr
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
—
—
—
—
—
₹19 Cr
₹11 Cr
₹17 Cr
₹17 Cr
₹13 Cr
₹11 Cr
₹17 Cr
₹19 Cr
₹23 Cr
₹17 Cr
₹20 Cr
₹19 Cr
₹27 Cr
₹14 Cr
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
—
—
—
—
—
₹8 Cr
₹9 Cr
₹8 Cr
₹9 Cr
₹9 Cr
₹10 Cr
₹8 Cr
₹10 Cr
₹13 Cr
₹12 Cr
₹13 Cr
₹11 Cr
₹12 Cr
₹13 Cr
—
Profit growth · reported quarter history
Atul Ltd · ATUL
—
—
—
-0.6%
2.7%
-34%
-32%
-38%
-40%
-30%
-36%
9.8%
54%
63%
120%
18%
30%
40%
62%
92%
Bhageria Industries Ltd · BHAGERIA⚠ unverified
—
—
—
—
—
—
—
—
—
100%
20%
500%
100%
38%
150%
83%
83%
0.0%
-27%
209%
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
—
—
—
—
—
—
—
—
—
-59%
-33%
-150%
-100%
400%
600%
—
—
-100%
129%
—
Indokem Ltd · INDOKEM
—
—
—
—
—
—
—
—
—
-117%
—
—
—
—
—
—
—
-45%
—
—
Kiri Industries Ltd · KIRIINDUS
—
—
—
—
—
—
—
—
—
150%
—
—
321%
31%
—
-89%
-75%
2,738%
—
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
—
—
—
—
—
—
—
—
—
—
-50%
—
-100%
200%
300%
-300%
—
-933%
-950%
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
—
—
—
-73%
-78%
-97%
-27%
3,714%
260%
1,400%
76%
-89%
67%
-93%
-100%
90%
-37%
-11,700%
—
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
—
—
—
—
—
—
—
—
—
-11%
-33%
-69%
38%
183%
83%
240%
-11%
-112%
18%
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
—
—
—
—
—
—
—
—
—
-32%
0.0%
0.0%
12%
77%
55%
18%
0.0%
17%
-18%
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
—
—
—
—
—
—
—
—
—
13%
11%
0.0%
11%
44%
20%
63%
10%
-7.7%
8.3%
—
04 · not available
Capacity Spending & Returns On It
No company in this Dyes & Pigments comparison reports capital expenditure on a comparable basis, so there is nothing to rank here — 0 of 10 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Jun 2026.
CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
Withheld from this comparison: Kiri Industries Ltd (KIRIINDUS) — its two data sources disagree by up to 331% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
05 · compare level, then change
Debt Load & Balance-Sheet Headroom
Indokem Ltd has the lowest Gross debt among the 10 Dyes & Pigments companies compared here, at ₹23 crore. Atul Ltd has the lowest Net debt at ₹1,557 crore net cash, so level and change sit with different companies. 10 of 10 companies report a comparable reading, the latest through Dec 2025.
What the numbers say: Atul Ltd has the clearest covered balance-sheet capacity with ₹1,557 crore net cash and gross debt of ₹183 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.
LeaderIndokem Ltd · ₹23 crore
Gap0% versus #2 · Sudarshan Colorants India Ltd
PersistenceNot enough history
Coverage10/10 companies · 159 observations
Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.
This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.
Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Indokem Ltd INDOKEM · older report₹23 Cr
2Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified₹23 Cr
3Kiri Industries Ltd KIRIINDUS₹42 Cr
4Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified₹58 Cr
5Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified₹86 Cr
Net debtlowest net debt
1Atul Ltd ATUL₹-1.6K Cr
2Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified₹-212 Cr
3Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified₹-6 Cr
4Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified₹38 Cr
5Bhageria Industries Ltd BHAGERIA⚠ unverified₹46 Cr
Debt and balance-sheet capacity · company comparison
10/10 level · 8/10 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Gross debt | Net debt | Reported |
|---|---|---|---|
| Sudarshan Chemical Industries Ltd SUDARSCHEM | ₹2.5K Cr | ₹1.1K Cr | Mar 2026 |
| Bodal Chemicals Ltd BODALCHEM⚠ unverified | ₹813 Cr | ₹792 Cr | Mar 2026 |
| Atul Ltd ATUL | ₹183 Cr | ₹-1.6K Cr | Jun 2026 |
| Sadhana Nitro Chem Ltd SADHNANIQ⚠ unverified | ₹113 Cr | ₹95 Cr | Mar 2026 |
| Bhageria Industries Ltd BHAGERIA⚠ unverified | ₹109 Cr | ₹46 Cr | Jun 2026 |
| Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified | ₹86 Cr | ₹-6 Cr | Mar 2026 |
| Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified | ₹58 Cr | ₹38 Cr | Mar 2026 |
| Kiri Industries Ltd KIRIINDUS | ₹42 Cr | — | Mar 2026 |
| Indokem Ltd INDOKEM | ₹23 Cr | — | Dec 2025 |
| Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified | ₹23 Cr | ₹-212 Cr | Mar 2026 |
Full 20-quarter history · every available company
Gross debt · reported quarter history
Atul Ltd · ATUL
₹37 Cr
₹37 Cr
₹144 Cr
₹144 Cr
₹73 Cr
₹73 Cr
₹52 Cr
₹52 Cr
₹162 Cr
₹162 Cr
₹237 Cr
₹237 Cr
₹218 Cr
₹218 Cr
₹202 Cr
₹202 Cr
₹186 Cr
₹188 Cr
₹183 Cr
—
Bhageria Industries Ltd · BHAGERIA⚠ unverified
₹45 Cr
₹45 Cr
₹35 Cr
₹35 Cr
₹23 Cr
₹23 Cr
₹38 Cr
₹38 Cr
₹6 Cr
₹6 Cr
₹47 Cr
₹47 Cr
₹26 Cr
₹26 Cr
₹46 Cr
₹46 Cr
₹74 Cr
₹79 Cr
₹109 Cr
₹109 Cr
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
₹485 Cr
₹485 Cr
₹676 Cr
₹676 Cr
₹746 Cr
₹746 Cr
₹760 Cr
₹760 Cr
₹818 Cr
₹818 Cr
₹904 Cr
₹904 Cr
₹836 Cr
₹836 Cr
₹911 Cr
₹911 Cr
₹866 Cr
₹866 Cr
₹813 Cr
—
Indokem Ltd · INDOKEM
—
—
—
—
—
—
₹22 Cr
—
—
—
₹22 Cr
—
—
—
₹22 Cr
—
₹23 Cr
—
—
—
Kiri Industries Ltd · KIRIINDUS
—
—
₹96 Cr
—
—
—
₹49 Cr
—
—
—
₹122 Cr
—
—
—
₹1.1K Cr
—
₹1.2K Cr
—
₹42 Cr
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
₹109 Cr
—
₹116 Cr
₹116 Cr
—
—
₹139 Cr
₹139 Cr
₹176 Cr
₹176 Cr
₹233 Cr
₹233 Cr
₹263 Cr
₹263 Cr
₹247 Cr
₹247 Cr
₹258 Cr
₹258 Cr
₹113 Cr
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
₹797 Cr
₹797 Cr
₹823 Cr
₹823 Cr
₹968 Cr
₹968 Cr
₹829 Cr
₹833 Cr
₹638 Cr
₹638 Cr
₹467 Cr
₹467 Cr
₹559 Cr
₹559 Cr
₹2.4K Cr
₹2.4K Cr
₹2.5K Cr
₹2.5K Cr
₹2.5K Cr
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
₹2 Cr
₹2 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
—
₹28 Cr
₹28 Cr
₹27 Cr
₹27 Cr
₹26 Cr
₹26 Cr
₹25 Cr
₹25 Cr
₹24 Cr
₹24 Cr
₹23 Cr
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
₹39 Cr
₹39 Cr
₹53 Cr
₹53 Cr
₹66 Cr
₹66 Cr
₹75 Cr
₹75 Cr
₹81 Cr
₹81 Cr
₹79 Cr
₹79 Cr
₹92 Cr
₹92 Cr
₹94 Cr
₹94 Cr
₹89 Cr
₹89 Cr
₹86 Cr
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
₹72 Cr
₹72 Cr
₹90 Cr
₹90 Cr
₹66 Cr
₹66 Cr
₹52 Cr
₹50 Cr
₹40 Cr
₹40 Cr
₹20 Cr
₹20 Cr
₹30 Cr
₹30 Cr
₹66 Cr
₹66 Cr
₹60 Cr
₹60 Cr
₹58 Cr
—
Net debt · reported quarter history
Atul Ltd · ATUL
₹-649 Cr
₹-649 Cr
₹-472 Cr
₹-472 Cr
₹-175 Cr
₹-175 Cr
₹-187 Cr
₹-187 Cr
₹-207 Cr
₹-207 Cr
₹-259 Cr
₹-259 Cr
₹-357 Cr
₹-357 Cr
₹-676 Cr
₹-676 Cr
₹-1.1K Cr
₹-1.1K Cr
₹-1.6K Cr
—
Bhageria Industries Ltd · BHAGERIA⚠ unverified
₹-15 Cr
₹-15 Cr
₹-15 Cr
₹-15 Cr
₹-41 Cr
₹-41 Cr
₹-5 Cr
₹-21 Cr
₹-77 Cr
₹-77 Cr
₹-22 Cr
₹-44 Cr
₹-55 Cr
₹-55 Cr
₹-28 Cr
₹-28 Cr
₹-17 Cr
₹-17 Cr
₹46 Cr
₹46 Cr
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
₹465 Cr
₹465 Cr
₹667 Cr
₹661 Cr
₹724 Cr
₹724 Cr
₹743 Cr
₹741 Cr
₹810 Cr
₹810 Cr
₹867 Cr
₹858 Cr
₹813 Cr
₹813 Cr
₹888 Cr
₹875 Cr
₹836 Cr
₹836 Cr
₹792 Cr
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
₹100 Cr
—
₹103 Cr
₹101 Cr
—
—
₹132 Cr
₹124 Cr
₹163 Cr
₹163 Cr
₹227 Cr
₹219 Cr
₹255 Cr
₹255 Cr
₹247 Cr
₹238 Cr
₹253 Cr
₹253 Cr
₹95 Cr
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
₹762 Cr
₹762 Cr
₹788 Cr
₹787 Cr
₹923 Cr
₹923 Cr
₹800 Cr
₹800 Cr
₹451 Cr
₹451 Cr
₹413 Cr
₹413 Cr
₹380 Cr
₹380 Cr
₹900 Cr
₹900 Cr
₹1.2K Cr
₹1.2K Cr
₹1.1K Cr
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
₹-14 Cr
₹-14 Cr
₹-21 Cr
₹-16 Cr
₹-40 Cr
₹-40 Cr
—
—
₹-2 Cr
₹-2 Cr
₹-82 Cr
₹-86 Cr
₹-83 Cr
₹-83 Cr
₹-187 Cr
₹-166 Cr
₹-185 Cr
₹-185 Cr
₹-212 Cr
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
₹12 Cr
₹12 Cr
₹19 Cr
₹19 Cr
₹40 Cr
₹40 Cr
₹28 Cr
₹31 Cr
₹40 Cr
₹40 Cr
₹24 Cr
₹24 Cr
₹32 Cr
₹32 Cr
₹20 Cr
₹20 Cr
₹24 Cr
₹24 Cr
₹-6 Cr
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
₹56 Cr
₹56 Cr
₹79 Cr
₹77 Cr
₹52 Cr
₹52 Cr
₹34 Cr
₹42 Cr
₹17 Cr
₹17 Cr
₹8 Cr
₹-3 Cr
₹18 Cr
₹18 Cr
₹46 Cr
₹39 Cr
₹24 Cr
₹24 Cr
₹38 Cr
—
06 · compare level, then change
Return On Capital Employed
Vidhi Specialty Food Ingredients Ltd has the highest ROCE among the 10 Dyes & Pigments companies compared here, at 18.8%. Atul Ltd is next at 14.9%. Indokem Ltd has the highest ROCE change at +11 percentage points, so level and change sit with different companies. 10 of 10 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Vidhi Specialty Food Ingredients Ltd leads ROCE at 18.8%, 3.9 percentage points above Atul Ltd. Indokem Ltd has the strongest latest improvement at +11 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
LeaderVidhi Specialty Food Ingredients Ltd · 18.8%
Gap26.2% versus #2 · Atul Ltd
Persistence7/8 recent comparable periods
Coverage10/10 companies · 120 observations
Investor read: Vidhi Specialty Food Ingredients Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified19%
2Atul Ltd ATUL15%
3Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified11%
4Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified11%
5Bhageria Industries Ltd BHAGERIA⚠ unverified9.4%
ROCE changefastest improvers
1Indokem Ltd INDOKEM · older report+11.0 pp
2Bhageria Industries Ltd BHAGERIA⚠ unverified+3.7 pp
3Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified+1.5 pp
4Atul Ltd ATUL+0.7 pp
5Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified+0.6 pp
Return on capital · company comparison
10/10 level · 10/10 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
Withheld from this chart: Kiri Industries Ltd (KIRIINDUS) — its two data sources disagree by up to 331% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified | 20% | +0.6 pp | Mar 2026 |
| Bhageria Industries Ltd BHAGERIA⚠ unverified | 15% | +3.7 pp | Jun 2026 |
| Atul Ltd ATUL | 11% | +0.7 pp | Jun 2026 |
| Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified | 10% | +1.5 pp | Mar 2026 |
| Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified | 6.4% | −5.2 pp | Mar 2026 |
| Bodal Chemicals Ltd BODALCHEM⚠ unverified | 6.2% | −0.4 pp | Mar 2026 |
| Sudarshan Chemical Industries Ltd SUDARSCHEM | 3.4% | +0.1 pp | Mar 2026 |
| Sadhana Nitro Chem Ltd SADHNANIQ⚠ unverified | -14% | −25.4 pp | Mar 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Atul Ltd · ATUL
18%
—
16%
—
16%
—
12%
—
9.2%
9.8%
7.7%
9.2%
7.7%
11%
9.8%
13%
9.7%
13%
11%
—
Bhageria Industries Ltd · BHAGERIA⚠ unverified
17%
—
16%
—
11%
—
3.7%
—
2.2%
4.8%
2.1%
6.3%
3.9%
8.2%
8.3%
11%
10%
12%
8.2%
15%
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
14%
—
14%
—
11%
—
5.7%
—
2.8%
4.1%
3.2%
4.1%
4.5%
5.3%
6.6%
7.4%
6.9%
7.2%
6.2%
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
15%
—
4.9%
—
—
—
5.2%
—
8.5%
11%
7.0%
8.9%
5.9%
8.2%
12%
6.2%
4.2%
-6.7%
-14%
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
16%
—
14%
—
11%
—
8.1%
—
9.5%
33%
12%
14%
15%
14%
3.3%
5.4%
3.6%
3.4%
3.4%
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
15%
—
9.8%
—
10%
—
9.4%
—
12%
13%
9.8%
9.6%
7.7%
13%
12%
16%
12%
10%
6.4%
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
7.3%
—
7.7%
—
9.5%
—
10%
—
8.8%
9.4%
7.3%
9.3%
6.2%
9.2%
8.8%
11%
8.8%
9.9%
10%
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
35%
—
35%
—
29%
—
20%
—
17%
20%
18%
19%
18%
21%
20%
24%
22%
23%
20%
—
ROCE change · reported quarter history
Atul Ltd · ATUL
—
—
—
—
−1.9 pp
—
−3.3 pp
—
−6.6 pp
—
−4.7 pp
—
−1.5 pp
+0.9 pp
+2.1 pp
+3.4 pp
+2.0 pp
+2.3 pp
+0.7 pp
—
Bhageria Industries Ltd · BHAGERIA⚠ unverified
—
—
—
—
−5.8 pp
—
−12.3 pp
—
−9.2 pp
—
−1.6 pp
—
+1.7 pp
+3.4 pp
+6.2 pp
+4.8 pp
+6.1 pp
+3.4 pp
−0.1 pp
+3.7 pp
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
—
—
—
—
−3.2 pp
—
−8.2 pp
—
−8.2 pp
—
−2.5 pp
—
+1.7 pp
+1.2 pp
+3.4 pp
+3.3 pp
+2.4 pp
+1.9 pp
−0.4 pp
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
—
—
—
—
—
—
+0.3 pp
—
—
—
+1.8 pp
—
−2.6 pp
−2.6 pp
+4.8 pp
−2.7 pp
−1.7 pp
−14.9 pp
−25.4 pp
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
—
—
—
—
−5.3 pp
—
−6.2 pp
—
−1.5 pp
—
+3.9 pp
—
+5.9 pp
−19.4 pp
−8.7 pp
−8.5 pp
−11.8 pp
−10.5 pp
+0.1 pp
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
—
—
—
—
−4.2 pp
—
−0.4 pp
—
+1.2 pp
—
+0.4 pp
—
−3.8 pp
+0.1 pp
+1.8 pp
+6.8 pp
+4.1 pp
−2.9 pp
−5.2 pp
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
—
—
—
—
+2.2 pp
—
+2.7 pp
—
−0.7 pp
—
−3.1 pp
—
−2.6 pp
−0.2 pp
+1.5 pp
+1.6 pp
+2.6 pp
+0.7 pp
+1.5 pp
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
—
—
—
—
−5.1 pp
—
−14.3 pp
—
−12.0 pp
—
−2.4 pp
—
+0.4 pp
+0.9 pp
+1.7 pp
+4.4 pp
+3.9 pp
+2.7 pp
+0.6 pp
—
07 · compare level, then change
Valuation Against Growth & Quality
Atul Ltd has the lowest Guarded PEG among the 10 Dyes & Pigments companies compared here, at 0.69×. Sudarshan Chemical Industries Ltd is next at 1.42×. Ultramarine & Pigments Ltd has the lowest P/E at 14×, so level and change sit with different companies. 2 of 10 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Atul Ltd has the lowest comparable Guarded PEG at 0.69×, 51.4% below Sudarshan Chemical Industries Ltd. Only 2 of 10 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderAtul Ltd · 0.69×
Gap51.4% versus #2 · Sudarshan Chemical Industries Ltd
Persistence0/8 recent comparable periods
Coverage2/10 companies · 8 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Atul Ltd ATUL0.7
2Sudarshan Chemical Industries Ltd SUDARSCHEM1.4
P/Elowest P/E
1Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified14.0
2Bhageria Industries Ltd BHAGERIA⚠ unverified14.5
3Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified17.2
4Bodal Chemicals Ltd BODALCHEM⚠ unverified17.9
5Atul Ltd ATUL23.7
Valuation · company comparison
2/10 level · 8/10 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Guarded PEG | P/E | Reported |
|---|---|---|---|
| Sudarshan Chemical Industries Ltd SUDARSCHEM | 1.4 | 68.2 | Mar 2026 |
| Atul Ltd ATUL | 0.7 | 29.0 | Jun 2026 |
| Kiri Industries Ltd KIRIINDUS | — | 22.7 | Mar 2026 |
| Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified | — | 27.6 | Mar 2026 |
| Indokem Ltd INDOKEM | — | 325.7 | Dec 2025 |
| Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified | — | 13.7 | Mar 2026 |
| Bhageria Industries Ltd BHAGERIA⚠ unverified | — | 20.8 | Jun 2026 |
| Bodal Chemicals Ltd BODALCHEM⚠ unverified | — | 23.7 | Mar 2026 |
| Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified | — | 10.8 | Mar 2026 |
| Sadhana Nitro Chem Ltd SADHNANIQ⚠ unverified | — | 95.5 | Mar 2026 |
Full 20-quarter history · every available company
Guarded PEG · reported quarter history
Atul Ltd · ATUL
—
—
—
—
—
—
—
—
—
—
—
7.0
1.3
1.0
—
3.2
0.9
0.7
—
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
—
—
1.3
—
—
—
—
—
—
—
—
—
—
—
—
1.4
—
—
—
—
P/E · reported quarter history
Atul Ltd · ATUL
40.1
39.6
46.5
38.9
44.3
40.2
36.9
40.2
45.9
53.8
47.3
59.2
68.2
55.0
43.5
45.1
35.5
32.8
30.9
29.0
Bhageria Industries Ltd · BHAGERIA⚠ unverified
15.7
15.7
14.2
10.3
12.8
14.6
18.4
46.6
48.9
56.0
36.6
38.8
43.2
30.9
23.0
44.4
28.6
29.6
11.7
20.8
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
14.5
13.2
11.6
8.4
9.3
9.7
10.5
22.9
58.6
119.9
126.6
151.2
156.3
140.2
106.1
49.6
26.3
18.6
23.7
—
Indokem Ltd · INDOKEM
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
325.7
—
—
Kiri Industries Ltd · KIRIINDUS
4.4
3.8
4.6
4.9
6.3
7.1
5.7
13.5
27.7
28.0
17.6
11.9
7.4
10.6
9.9
11.7
16.7
27.9
22.7
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
92.7
138.9
399.3
1,256.0
1,140.0
1,944.0
1,938.0
2,095.0
1,729.0
898.0
646.5
1,412.0
768.5
1,127.0
455.0
85.3
132.5
95.5
—
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
31.0
27.3
26.6
22.8
26.1
29.1
47.7
75.0
55.0
51.6
48.2
55.2
63.7
57.1
48.1
61.1
82.5
70.2
68.2
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
26.1
26.5
28.9
21.4
24.0
38.2
30.5
63.2
58.5
30.4
22.6
26.1
43.1
35.0
28.9
29.0
19.3
16.0
10.8
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
23.1
18.6
16.1
15.0
15.8
14.8
13.0
14.0
16.5
18.1
16.8
23.6
26.1
26.5
20.1
19.6
17.1
15.2
13.7
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
41.9
39.4
35.1
33.6
34.5
34.6
38.1
53.0
59.7
61.4
65.7
60.3
69.7
72.1
54.0
47.1
37.8
36.0
27.6
—
08 · compare level, then change
Enterprise Value & Book Value
Sudarshan Colorants India Ltd has the lowest EV/EBITDA among the 10 Dyes & Pigments companies compared here, at 4.7×. Ultramarine & Pigments Ltd is next at 8.2×. Kiri Industries Ltd has the lowest P/BV at 0.38×, so level and change sit with different companies. 9 of 10 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Sudarshan Colorants India Ltd leads ev/ebitda at 4.7×; Kiri Industries Ltd leads p/bv at 0.38×.
LeaderSudarshan Colorants India Ltd · 4.7×
Gap42.7% versus #2 · Ultramarine & Pigments Ltd
Persistence0/8 recent comparable periods
Coverage9/10 companies · 173 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.
EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified4.7
2Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified8.2
3Bodal Chemicals Ltd BODALCHEM⚠ unverified8.6
4Bhageria Industries Ltd BHAGERIA⚠ unverified9.9
5Sudarshan Chemical Industries Ltd SUDARSCHEM12.5
P/BVlowest P/BV
1Kiri Industries Ltd KIRIINDUS0.4
2Bodal Chemicals Ltd BODALCHEM⚠ unverified0.7
3Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified1.3
4Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified1.5
5Bhageria Industries Ltd BHAGERIA⚠ unverified1.7
Enterprise and book valuation · company comparison
9/10 level · 10/10 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | EV/EBITDA | P/BV | Reported |
|---|---|---|---|
| Indokem Ltd INDOKEM | 169.5 | 29.1 | Dec 2025 |
| Sadhana Nitro Chem Ltd SADHNANIQ⚠ unverified | 63.0 | 1.6 | Mar 2026 |
| Kiri Industries Ltd KIRIINDUS | 52.5 | 0.6 | Mar 2026 |
| Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified | 16.9 | 4.2 | Mar 2026 |
| Atul Ltd ATUL | 15.9 | 3.5 | Jun 2026 |
| Sudarshan Chemical Industries Ltd SUDARSCHEM | 12.5 | 1.7 | Mar 2026 |
| Bhageria Industries Ltd BHAGERIA⚠ unverified | 9.9 | 1.7 | Jun 2026 |
| Bodal Chemicals Ltd BODALCHEM⚠ unverified | 8.6 | 0.6 | Mar 2026 |
| Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified | 8.2 | 1.0 | Mar 2026 |
| Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified | 4.7 | 1.2 | Mar 2026 |
Full 20-quarter history · every available company
EV/EBITDA · reported quarter history
Atul Ltd · ATUL
25.5
25.0
28.7
23.3
26.7
24.1
21.7
23.2
25.5
28.6
23.7
27.0
30.2
24.6
19.7
21.3
16.9
16.3
16.2
15.9
Bhageria Industries Ltd · BHAGERIA⚠ unverified
9.3
9.1
8.1
5.8
6.7
7.0
7.1
11.9
12.0
13.1
10.5
12.6
16.1
12.1
9.0
17.3
10.0
10.9
6.3
9.9
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
10.2
8.6
7.2
6.1
6.9
7.1
8.1
11.1
14.2
15.3
14.1
14.3
15.0
12.5
10.2
10.7
9.0
7.9
8.6
—
Indokem Ltd · INDOKEM
—
—
—
—
—
—
—
72.3
61.5
409.5
—
—
—
114.0
145.4
91.6
136.7
169.5
—
—
Kiri Industries Ltd · KIRIINDUS
19.9
14.2
17.9
20.3
27.6
41.2
26.6
—
—
—
—
—
—
—
50.9
53.6
69.1
86.3
52.5
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
53.2
89.9
225.4
371.8
368.7
314.1
332.6
273.2
189.5
154.0
92.4
95.8
103.1
83.1
37.4
22.3
24.8
63.0
—
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
17.2
16.0
15.8
12.7
14.7
14.5
16.1
19.2
16.6
16.0
16.2
21.1
23.4
22.4
21.3
26.5
21.2
14.2
12.5
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
11.9
11.7
12.9
12.8
14.1
11.3
9.0
12.2
14.0
16.8
12.2
12.8
18.0
15.6
14.3
14.3
10.4
8.2
4.7
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
14.7
12.4
10.5
9.1
10.4
9.7
8.4
8.9
10.3
11.0
9.8
13.4
14.7
15.0
11.8
11.5
10.2
8.9
8.2
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
29.1
27.6
24.6
23.1
23.9
24.2
26.7
36.6
39.5
39.6
42.2
38.5
43.2
45.1
34.8
29.2
23.9
22.1
16.9
—
P/BV · reported quarter history
Atul Ltd · ATUL
7.4
6.3
7.0
6.1
5.8
5.3
4.7
4.7
4.5
4.3
3.5
4.1
4.4
3.7
3.2
4.3
3.2
3.0
3.1
3.5
Bhageria Industries Ltd · BHAGERIA⚠ unverified
2.4
2.3
2.2
1.6
1.6
1.4
1.0
1.4
1.3
1.4
1.2
1.5
2.0
1.6
1.2
1.6
1.4
1.4
1.0
1.7
Bodal Chemicals Ltd · BODALCHEM⚠ unverified
1.4
1.3
1.3
1.0
1.0
0.9
0.7
0.8
1.0
1.0
0.9
0.9
0.9
0.8
0.7
0.9
0.7
0.6
0.6
—
Indokem Ltd · INDOKEM
—
—
—
—
—
—
—
4.0
4.7
4.3
4.8
4.4
4.0
5.1
9.2
12.7
22.9
29.1
—
—
Kiri Industries Ltd · KIRIINDUS
0.8
0.8
0.8
0.7
1.0
0.9
0.6
0.6
0.5
0.8
0.6
0.6
0.6
1.1
1.2
1.1
1.0
1.1
0.6
—
Sadhana Nitro Chem Ltd · SADHNANIQ⚠ unverified
13.2
20.7
51.0
53.5
36.2
30.9
41.2
44.6
22.8
23.3
16.8
18.1
20.2
14.6
5.9
3.2
3.4
2.5
1.6
—
Sudarshan Chemical Industries Ltd · SUDARSCHEM
6.2
5.2
4.9
4.0
3.6
3.4
3.2
4.0
4.0
3.5
3.8
7.5
6.7
6.5
5.7
7.6
3.2
2.1
1.7
—
Sudarshan Colorants India Ltd · SUDARCOLOR⚠ unverified
3.2
2.9
2.8
2.3
2.3
2.0
1.5
2.0
2.5
3.0
2.2
2.5
2.8
2.5
2.7
2.9
2.6
2.0
1.2
—
Ultramarine & Pigments Ltd · ULTRAMAR⚠ unverified
3.0
1.2
1.0
1.9
1.2
1.2
1.1
1.3
1.6
1.4
1.1
1.9
1.7
1.4
1.3
1.5
1.4
1.1
1.0
—
Vidhi Specialty Food Ingredients Ltd · VIDHIING⚠ unverified
11.2
10.4
10.5
12.2
8.2
7.6
7.5
9.2
8.3
7.8
8.6
8.8
9.1
9.4
7.8
7.3
6.0
5.6
4.2
—
09 · let price answer last
Market action
Indokem Ltd has the strongest one-year price move in Dyes & Pigments at +55.3%. Sadhana Nitro Chem Ltd leads on Mansfield relative strength against NIFTY at +22.3%. 4 of 10 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.
Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength
Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.
Before the conclusion · check the blind spots
What can make this comparison misleading?
This Dyes & Pigments comparison names 8 specific ways its own evidence can mislead, all listed below. 1 of the 10 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 6 draw at least one figure from a second feed with too little overlap to cross-check.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
- 6 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
- 1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
- Thin comparisons: Capital expenditure, Valuation have fewer than three usable current readings.
10 · the complete set
Which companies are included?
All 10 companies in the canonical Dyes & Pigments membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. 1 of these is no longer being priced, so its price and relative strength are frozen at the last traded week shown.
AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.
| Company | Market value | Price | Priced to | Latest fundamentals | Source standing |
|---|---|---|---|---|---|
| Atul Ltd ATUL18/26 WEEKS | ₹18.9K Cr | ₹6,408 | 2026-07-19 | Jun 2026 | Cross-checked |
| Sudarshan Chemical Industries Ltd SUDARSCHEMAHEAD | ₹8.3K Cr | ₹1,041 | 2026-07-19 | Mar 2026 | Cross-checked |
| Kiri Industries Ltd KIRIINDUSLAGGING, FUNDAMENTALS UP | ₹2.6K Cr | ₹406 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Vidhi Specialty Food Ingredients Ltd VIDHIING⚠ unverified | ₹1.6K Cr | ₹311 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Indokem Ltd INDOKEM | ₹1.4K Cr | ₹501 | 2026-03-08 · not currently priced | Dec 2025 | Primary source only |
| Ultramarine & Pigments Ltd ULTRAMAR⚠ unverified | ₹1.1K Cr | ₹380 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Bhageria Industries Ltd BHAGERIAAHEAD⚠ unverified | ₹999 Cr | ₹229 | 2026-07-19 | Jun 2026 | Includes unverified figures |
| Bodal Chemicals Ltd BODALCHEM⚠ unverified | ₹857 Cr | ₹68.0 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Sudarshan Colorants India Ltd SUDARCOLOR⚠ unverified | ₹832 Cr | ₹361 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Sadhana Nitro Chem Ltd SADHNANIQAHEAD⚠ unverified | ₹812 Cr | ₹2.7 | 2026-07-19 | Mar 2026 | Includes unverified figures |
How each company's sources stand: 6 of 10 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. 1 of 10 companies has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Kiri Industries Ltd (KIRIINDUS) — its two data sources disagree by up to 331% on reported income across 14 comparable periods, so its derived ratios are withheld.
Evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 10 Dyes & Pigments companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-24 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing2 cross-checked · 7 unverified · 1 withheld, of 10 graded companies.
A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.
Questions investors ask · short, speakable answers
Dyes & Pigments company comparison FAQs
These 18 answers restate the Dyes & Pigments comparison above in question form. Every one is computed from the same 10 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.
What is the Nifty Dyes & Pigments index?
The Nifty Dyes & Pigments index tracks India's listed Dyes & Pigments companies as a single basket. This page follows the same 10 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Dyes & Pigments sector rather than to its largest constituent. Figures are as of Jun 2026.
Which are the best Dyes & Pigments stocks in India?
Ranked by this page's four-factor score, Atul Ltd places first among 10 listed Dyes & Pigments companies, followed by Bhageria Industries Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.
How many Dyes & Pigments stocks are listed in India?
This comparison covers 10 listed Dyes & Pigments companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.
Which Dyes & Pigments company is the biggest?
Sudarshan Chemical Industries Ltd is the largest, with trailing-twelve-month revenue of ₹9,787 crore, ahead of Atul Ltd at ₹6,644 crore. That covers 10 of 10 companies with comparable reporting through Mar 2026.
Which Dyes & Pigments company is growing fastest?
Sudarshan Chemical Industries Ltd has the fastest revenue growth at 100% year on year, across 10 of 10 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.
Which Dyes & Pigments company has the best profit margins?
Atul Ltd has the highest operating margin at 21%, from 10 of 10 comparable companies. Atul Ltd shows the biggest recent improvement, at +5 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Dyes & Pigments company makes the most profit?
Kiri Industries Ltd earns the most, at ₹5,567 crore of trailing-twelve-month net profit, from 10 of 10 comparable companies. Bodal Chemicals Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Dyes & Pigments company earns the highest return on capital?
Vidhi Specialty Food Ingredients Ltd leads on return on capital employed at 18.8%, across 10 of 10 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Dyes & Pigments stock is the cheapest?
On guarded PEG — where a LOWER number is cheaper — Atul Ltd screens cheapest at 0.69×. Only 2 of 10 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Which Dyes & Pigments company has the strongest balance sheet?
Indokem Ltd carries the lowest comparable gross debt at ₹23 crore, from 10 of 10 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.
Which Dyes & Pigments stock has the strongest price momentum?
Sadhana Nitro Chem Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Dyes & Pigments company scores highest for research priority?
Atul Ltd scores 65.5 out of 100 with 100% evidence confidence, from 28 points on growth and earnings, 18.1 on capital efficiency, 14 on valuation and 5.4 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Dyes & Pigments companies does this comparison cover, and over what period?
It compares 10 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Dyes & Pigments sector?
The 10 Dyes & Pigments companies on this page carry ₹37,351 crore of combined market value. Atul Ltd is the largest at ₹18,865 crore, about 51% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.
What is the Dyes & Pigments sector's P/E ratio?
The median price-to-earnings ratio across the 10 Dyes & Pigments companies on this page is 23.7×, measured on the 8 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.
How is the Dyes & Pigments sector performing?
4 of the 10 covered Dyes & Pigments companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.