Sadhana Nitro Chem Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹685 Cr
- ROE
- -23.52%
- Price to sales
- 7.71
- Debt to equity
- 0.22
- 52W high / low
- ₹8.04 / ₹1.33
- Sales growth (5Y)
- -13.58%
- EBITDA margin
- -31.55%
- Net profit margin
- -173.99%
- Promoter holding
- 59.55%
- Sales (last year)
- ₹89 Cr
Incorporated in 1973, Sadhana Nitro Chem Ltd manufactures chemical intermediates, heavy organic chemicals performance chemicals, and wireless network equipment and services[1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Peers
Chemicals & Petrochemicals companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹234 Cr | 3.0 | |
| 2 | 40%+ | Flat | ₹3,888 Cr | 48.5 | |
| 3 | 40%+ | Flat | ₹3,514 Cr | 4.3 | |
| 4 | 40%+ | Flat | ₹180 Cr | 11.9 | |
| 5 | 40%+ | Flat | ₹138 Cr | 15.1 | |
| 6 | 20–40% | Up 2%+ | ₹1.70L Cr | 85.4 |
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Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals rankingFinancials of Sadhana Nitro
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Sadhana Nitro
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 65.81% | 65.64% | 65.48% | 65.47% | 65.11% | 64.90% | 56.73% | 29.97% | 29.97% | 60.91% | 60.91% | 59.55% |
| FIIs + | 0.00% | 0.05% | 0.00% | 0.00% | 0.00% | 0.06% | 0.04% | 0.04% | 0.14% | 0.00% | 0.04% | 0.04% |
| DIIs + | 0.05% | 0.03% | 0.03% | 0.03% | 0.01% | 0.01% | 0.01% | 0.06% | 0.06% | 0.01% | 0.04% | 0.04% |
| Public + | 34.15% | 34.29% | 34.49% | 34.50% | 34.87% | 35.03% | 43.22% | 69.92% | 69.82% | 39.07% | 39.02% | 40.38% |
| No. of Shareholders | 36,520 | 43,366 | 43,768 | 49,691 | 51,724 | 52,281 | 54,475 | 63,144 | 64,258 | 68,448 | 75,881 | 77,028 |
Financials of Sadhana Nitro
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 42.01 | 44.08 | 64.55 | 36.10 | 42.88 | 37.10 | 49.47 | 28.10 | 2.70 | 9.76 | 9.11 | 27.22 | 42.75 |
| Expenses + | 29.48 | 32.68 | 55.26 | 26.48 | 34.60 | 25.87 | 36.24 | 26.16 | 19.68 | 24.95 | 31.93 | 24.90 | 35.09 |
| Operating Profit | 12.53 | 11.40 | 9.29 | 9.62 | 8.28 | 11.23 | 13.23 | 1.94 | -16.98 | -15.19 | -22.82 | 2.32 | 7.66 |
| OPM % | 29.83% | 25.86% | 14.39% | 26.65% | 19.31% | 30.27% | 26.74% | 6.90% | -628.89% | -155.64% | -250.49% | 8.52% | 17.92% |
| Other Income + | -0.01 | 0.77 | 2.47 | 0.29 | 1.17 | 0.49 | -0.12 | 4.48 | -0.47 | 1.20 | 3.34 | 3.71 | 0.26 |
| Interest | 4.49 | 4.36 | 4.12 | 4.15 | 4.42 | 4.64 | 4.29 | 4.01 | 4.85 | 6.87 | 10.72 | 3.19 | 3.14 |
| Depreciation | 3.82 | 3.83 | 3.47 | 3.98 | 3.99 | 3.36 | 3.85 | 4.65 | 3.68 | 3.87 | 4.13 | 2.93 | 3.24 |
| Profit before tax | 4.21 | 3.98 | 4.17 | 1.78 | 1.04 | 3.72 | 4.97 | -2.24 | -25.98 | -24.73 | -34.33 | -0.09 | 1.54 |
| Tax % | 38.95% | 76.63% | 87.53% | 65.17% | 75.00% | 30.65% | 17.51% | -5.36% | -1.66% | 1.66% | -2.07% | 511.11% | 11.04% |
| Net Profit + | 2.57 | 0.93 | 0.52 | 0.62 | 0.26 | 2.58 | 4.10 | -2.12 | -25.55 | -25.14 | -33.62 | -0.55 | 1.37 |
| EPS in Rs | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | -0.01 | -0.09 | -0.08 | -0.11 | -0.00 | 0.00 |
Financials of Sadhana Nitro
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 48 | 36 | 55 | 114 | 267 | 106 | 103 | 132 | 143 | 190 | 166 | 50 | 89 |
| Expenses + | 52 | 34 | 47 | 79 | 147 | 77 | 80 | 117 | 122 | 149 | 123 | 103 | 117 |
| Operating Profit | -4 | 2 | 8 | 35 | 120 | 29 | 23 | 15 | 21 | 41 | 42 | -53 | -28 |
| OPM % | -8% | 5% | 15% | 31% | 45% | 27% | 23% | 11% | 15% | 22% | 26% | -107% | -32% |
| Other Income + | 14 | 0 | 0 | 0 | 1 | 2 | 5 | 5 | 2 | 4 | 2 | 9 | 9 |
| Interest | 5 | 5 | 6 | 5 | 12 | 3 | 3 | 5 | 10 | 17 | 18 | 26 | 24 |
| Depreciation | 2 | 2 | 2 | 2 | 3 | 6 | 6 | 6 | 8 | 15 | 15 | 16 | 14 |
| Profit before tax | 3 | -5 | 1 | 28 | 107 | 22 | 19 | 9 | 6 | 13 | 12 | -87 | -58 |
| Tax % | -35% | 0% | 0% | -11% | 29% | 34% | 15% | 30% | 44% | 68% | 34% | -1% | |
| Net Profit + | 4 | -5 | 1 | 31 | 76 | 15 | 16 | 6 | 3 | 4 | 8 | -86 | -58 |
| EPS in Rs | 0.01 | -0.02 | 0.00 | 0.11 | 0.26 | 0.05 | 0.06 | 0.02 | 0.01 | 0.01 | 0.03 | -0.29 | -0.19 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 47% | 95% | 91% | 0% | 0% |
Financials of Sadhana Nitro
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 14 | 20 | 20 | 25 | 33 | 296 | 303 |
| Reserves | -7 | -12 | 1 | 37 | 96 | 107 | 116 | 141 | 206 | 202 | 248 | 158 | 165 |
| Borrowings + | 37 | 44 | 36 | 16 | 8 | 46 | 83 | 116 | 139 | 233 | 247 | 113 | 104 |
| Other Liabilities + | 26 | 27 | 37 | 78 | 64 | 53 | 91 | 110 | 61 | 73 | 109 | 90 | 97 |
| Total Liabilities | 66 | 68 | 83 | 139 | 177 | 216 | 304 | 386 | 426 | 532 | 637 | 658 | 670 |
| Fixed Assets + | 31 | 29 | 37 | 50 | 76 | 84 | 78 | 75 | 144 | 156 | 159 | 163 | 157 |
| CWIP | 9 | 9 | 9 | 11 | 2 | 15 | 23 | 68 | 28 | 53 | 100 | 78 | 82 |
| Investments | 0 | 0 | 0 | 0 | 5 | 6 | 6 | 7 | 6 | 6 | 0 | 0 | 0 |
| Other Assets + | 26 | 30 | 37 | 78 | 94 | 111 | 197 | 236 | 248 | 317 | 378 | 416 | 431 |
| Total Assets | 66 | 68 | 83 | 139 | 177 | 216 | 304 | 386 | 426 | 532 | 637 | 658 | 670 |
Financials of Sadhana Nitro
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 9 | -1 | 9 | 35 | 53 | -17 | 1 | -5 | -38 | -3 | 48 | -29 |
| Cash from Investing Activity + | -0 | -0 | -1 | -6 | -25 | -22 | -23 | -39 | -53 | -65 | -89 | -46 |
| Cash from Financing Activity + | -9 | 2 | -25 | -13 | -23 | 30 | 30 | 46 | 72 | 42 | 25 | 93 |
| Net Cash Flow | 0 | 1 | -16 | 16 | 5 | -9 | 7 | 2 | -19 | -26 | -16 | 18 |
| Free Cash Flow | 9 | -1 | 8 | 29 | 32 | -39 | -7 | -46 | -86 | -68 | -46 | -93 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -246% | -47% | 110% | 107% | 51% | 4% | 5% | 23% | -154% | -4% | 121% | 50% |
Financials of Sadhana Nitro
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 56 | 131 | 68 | 49 | 21 | 100 | 173 | 113 | 167 | 242 | 270 | 976 |
| Inventory Days | 102 | 176 | 222 | 184 | 217 | 600 | 600 | 951 | ||||
| Days Payable | 226 | 395 | 350 | 195 | 64 | 254 | 234 | 465 | ||||
| Cash Conversion Cycle | -68 | -88 | -59 | 37 | 174 | 446 | 539 | 113 | 167 | 242 | 270 | 1,462 |
| Working Capital Days | -211 | -321 | -127 | -107 | 24 | 69 | 95 | 71 | 207 | 179 | 150 | 734 |
| ROCE % | -13% | 0% | 16% | 62% | 136% | 18% | 12% | 6% | 5% | 7% | 6% | -11% |
Momentum score · price trend
29 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −2.5% | 58% |
| Last 6 months | +8.3% | 66% |
| Last 3 months | −10.3% | 44% |
The price is 91.6% below its all-time high of ₹28.12 (2 Sept 2022). Stocks more than 20% below their peak have their score halved, so 58 became 29.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Sadhana Nitro: 0.4 × 58 + 0.4 × 66 + 0.2 × 44 = 58, halved to 29 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 16 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
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