Ishan Dyes & Chemicals Limited (531109) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Ishan Dyes & Chemicals Limited ₹63.29, price ₹46.54, upside +36.0%, quality 16 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range ₹34.76 – ₹169.05 · fair‑value band ₹47.23 – ₹94.47 · the ₹46.54 price screens below the ₹63.29 fair value. Dashed = 300-day average. As of Oct 3, 2026.
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Ishan Dyes & Chemicals Limited manufactures, trades in, and imports chemicals used in dyes and pigment. It offers copper phthalocyanine blue crude, solvent dye, and pigment alpha and beta blues. The company also exports its products. Ishan Dyes & Chemicals Limited was founded in 1993 and is based in Ahmedabad, India.
Stock analysis
Ishan Dyes & Chemicals Limited (531109) currently trades at ₹46.54, while our model-based Fair Value estimate is ₹63.29, implying the stock looks roughly 26.5% undervalued today.
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Valuation
How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the evidence level at low.
Scenario range: ₹47.23 (bear) to ₹94.47 (bull), the price of ₹46.54 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 16/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Ishan Dyes & Chemicals Limited reported revenue of ₹735M in FY2026 versus ₹874M in FY2022, a compound −4.2%/yr. Reported net income was −₹71.1M in FY2026.
Key figures
Market cap ₹1.3B (≈ $13.2M) · P/E ratio 6.8 · P/S ratio 0.85 · EPS (TTM) ₹5.38 · Dividend yield 2.1% · Net margin −9.7% · Return on assets (EBIT) 2.3% · Operating margin 14.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at 36%, 531109 screens cheaper than that median.
Fair Value models
Bear ₹47.23Fair Value ₹63.29Bull ₹94.47
Price ₹46.54 · Upside +36.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹2.23 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.13/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−27.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.1%
Start year 2021 (pandemic). Over 10 years: +1.8% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.2%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
19.1% (2021) → −1.5% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
Compare Ishan Dyes & Chemicals Limited with another stock
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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Chemicals - Major Diversified” was too small, so the broader sector is used.)Materials · 3243 stocks
Beats the sector median on 6/12 measures
A mixed picture versus its sector peers.
Valuation
Quality Score16 · Bottom 25%
Fair Value upside+36.0% · Top 25%
Profitability
Return on assets0.0% · Below median
Net margin (TTM)11.2% · Top 25%
Operating margin (TTM)14.5% · Top 25%
Growth and dividend
Revenue growth−28.5% · Bottom 25%
Dividend yield (TTM)2.1% · Above median
Balance sheet
Debt / equity0.23× · Above median
Valuation Multiplesvs Materials median · lower = cheaper
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Is Ishan Dyes & Chemicals Limited (531109) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of ₹63.29 versus a price of ₹46.54, about +36% upside (undervalued).
What is the fair value of 531109?
Our model-based fair value for Ishan Dyes & Chemicals Limited is ₹63.29 (as of Oct 3, 2026), built from audited fundamentals. The current price: ₹46.54.
What is the quality score of 531109?
Ishan Dyes & Chemicals Limited has a Quality Score of 16/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Ishan Dyes & Chemicals Limited (531109)?
Our model-based price target is the fair value of ₹63.29 (as of Oct 3, 2026) from 2 valuation models. Cautious scenario ₹47.23, optimistic scenario ₹94.47. It is a calculation from audited fundamentals, not an analyst target.
What is the Ishan Dyes & Chemicals Limited stock forecast for 2026?
Our models put fair value at ₹63.29, about +36% upside versus a price of ₹46.54 (undervalued). Cautious scenario ₹47.23, optimistic scenario ₹94.47. The calculation is refreshed regularly with new filings.
What is the revenue of Ishan Dyes & Chemicals Limited (531109)?
Ishan Dyes & Chemicals Limited reported trailing-twelve-month revenue of about ₹772M (latest available figure, as of Oct 3, 2026).
Does Ishan Dyes & Chemicals Limited pay a dividend?
Ishan Dyes & Chemicals Limited currently shows a dividend yield of about 2.15% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of Ishan Dyes & Chemicals Limited (531109)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ishan Dyes & Chemicals Limited it is ₹63.29 per share (as of Oct 3, 2026), against a price of ₹46.54. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Ishan Dyes & Chemicals Limited stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 531109 trades below its calculated fair value: price ₹46.54, fair value ₹63.29, a gap of about +36% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 531109?
No. The price is what the market pays today (₹46.54); the fair value is what the company's own numbers justify (₹63.29). For Ishan Dyes & Chemicals Limited the two are ₹16.75 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ishan Dyes & Chemicals Limited worth?
The market values Ishan Dyes & Chemicals Limited at about ₹1.3B (market capitalisation, as of Oct 3, 2026). Per share that is ₹46.54; our models calculate a fair value of ₹63.29 per share.
What do the bullish and bearish scenarios say about 531109?
Our models span a range for Ishan Dyes & Chemicals Limited: cautious scenario ₹47.23, base ₹63.29, optimistic ₹94.47 per share (as of Oct 3, 2026, price ₹46.54). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 531109?
Ishan Dyes & Chemicals Limited trades at a price-to-earnings ratio of 6.8 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹63.29 is built from several models across several years. Other multiples: P/B 0.9, P/S 1.6, EV/EBITDA 12.2.
How solid is the balance sheet of Ishan Dyes & Chemicals Limited (531109)?
Balance-sheet figures for Ishan Dyes & Chemicals Limited (as of Oct 3, 2026): debt of 0.23 per unit of equity. They feed the Quality Score of 16/100, which measures business quality independently of the share price.
How far is 531109 from its 52-week high?
Ishan Dyes & Chemicals Limited trades at ₹46.54, about 43% below its 52-week high of ₹81.83 and 7% above the low of ₹43.33 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹63.29 is for.
Which stocks are comparable to Ishan Dyes & Chemicals Limited?
From the same area (Basic Materials) we also value NOCIL Limited, Diamines and Chemicals Limited, UNIVSTAR, Lords Chloro Alkali Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ishan Dyes & Chemicals Limited stock attractive at the current price?
The data as of Oct 3, 2026: price ₹46.54, calculated fair value ₹63.29 (+36%), Quality Score 16/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 531109 calculated?
We run Ishan Dyes & Chemicals Limited through 2 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹63.29, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. Ishan Dyes & Chemicals Limited currently trades 26 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ishan Dyes & Chemicals Limited (531109)?
The closing price on Oct 1, 2026 was ₹46.54. Our model-based fair value is ₹63.29, about +36% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ishan Dyes & Chemicals Limited right now?
The large discount to fair value meets weak quality (16/100). That raises the risk this is a value trap rather than a bargain. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (₹47.23 to ₹94.47) leaves room in how you read the outcome.
Key figures of Ishan Dyes & Chemicals Limited
How large is the market capitalisation of Ishan Dyes & Chemicals Limited (531109)?
The market capitalisation of Ishan Dyes & Chemicals Limited is ₹1.3B (≈ $13.2M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ishan Dyes & Chemicals Limited (531109)?
The price-to-sales ratio of Ishan Dyes & Chemicals Limited is 0.85 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ishan Dyes & Chemicals Limited (531109)?
Earnings per share at Ishan Dyes & Chemicals Limited are ₹5.38 (price ÷ EPS = P/E 6.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ishan Dyes & Chemicals Limited (531109)?
The dividend yield of Ishan Dyes & Chemicals Limited is 2.1% (payout 18.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Ishan Dyes & Chemicals Limited (531109)?
The net margin of Ishan Dyes & Chemicals Limited is −9.7% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Ishan Dyes & Chemicals Limited (531109)?
On an EBIT basis the return on assets of Ishan Dyes & Chemicals Limited is 2.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ishan Dyes & Chemicals Limited (531109)?
The operating margin of Ishan Dyes & Chemicals Limited is 14.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ishan Dyes & Chemicals Limited (531109)?
Revenue at Ishan Dyes & Chemicals Limited is growing −28.5% versus a year earlier (3y avg +4.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Ishan Dyes & Chemicals Limited (531109)?
Earnings per share at Ishan Dyes & Chemicals Limited are growing −7.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ishan Dyes & Chemicals Limited (531109) generate?
The free cash flow of Ishan Dyes & Chemicals Limited is −₹306M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ishan Dyes & Chemicals Limited (531109) carry?
The net debt of Ishan Dyes & Chemicals Limited is ₹899M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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