Sudarshan Chemical Industries (506655) Q3 24/25 earnings summary
Event summary combining transcript, slides, and related documents.
Q3 24/25 earnings summary
9 Sep, 2026Executive summary
Achieved highest ever operative revenue and EBITDA in FY24, with sales growing at a 10% CAGR and operating profit at 11% CAGR over the long term.
Pigment business remains the core focus, now the third largest globally, with a domestic market share of 33%.
Export sales and specialty pigment revenues showed robust year-over-year growth, with exports now comprising 53% of pigment sales for the nine months.
Unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2024 were approved, with limited review reports issued by statutory auditors and no audit modifications noted.
Board approved issuance of a corporate guarantee up to €175 million for Sudarshan Europe B.V. to support a term loan facility for a major acquisition.
Financial highlights
Q3 FY25 consolidated income from operations rose 18% year-over-year to ₹666 Cr; EBITDA up 27% to ₹94 Cr; PAT up 107% to ₹31 Cr.
For 9M FY25, consolidated income from operations increased 12% year-over-year to ₹1,996 Cr; EBITDA up 29% to ₹254 Cr; PAT up 89% to ₹102 Cr.
Pigment business 9M FY25 revenue grew 17% year-over-year to ₹1,850 Cr, with EBITDA up 37% to ₹274 Cr.
Gross margin in pigment business improved to 46.8% for 9M FY25, driven by growth in specialty pigments.
Consolidated revenue from operations for Q3 FY25 was ₹66,642.8 lakhs, up from ₹56,575.0 lakhs in Q3 FY24; nine-month revenue reached ₹1,99,613.6 lakhs, up from ₹1,77,453.6 lakhs year-over-year.
Outlook and guidance
Strong growth expected from coatings, inks, plastics, and cosmetics segments, leveraging global pigment market opportunities estimated at $8.6B.
Continued focus on expanding product portfolio, geographic reach, and application areas, especially in high-performance and specialty pigments.
The company is progressing with the acquisition of Heubach Group’s global pigment business for €127.5 million, with funding plans in place and regulatory approvals pending.
Latest events from Sudarshan Chemical Industries
- Revenue and margins rose, with normalized profit and improved financial strength.506655
Q1 24/25 - Acquisition creates a global pigment leader with 19 sites and accretive financials.506655M&A announcement
- Record revenue and profit growth, margin expansion, and major global acquisition approved.506655Q2 24/25
- Heubach acquisition drove strong revenue and EBITDA growth, but net profit declined on costs.506655Q4 24/25
- Q1 FY26 sales reached ₹2,507 Cr and EBITDA rose, but margins and net profit ratio declined.506655Q1 25/26
- Pigments-led growth and Heubach acquisition drove higher revenue, with integration costs impacting profit.506655Q2 25/26
- Revenue growth from acquisition offset by integration and regulatory costs, resulting in a net loss.506655Q3 25/26
- Record revenue and EBITDA growth achieved, with Heubach integration and debt reduction progressing.506655Q4 25/26
- Q1 FY27 saw robust revenue, profit, and EBITDA growth, with ongoing integration and restructuring.506655Q1 26/27