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Heubach Colorants India Limited (HEUBACHIND) Fair Value & Analysis

Basic Materials · IN · Market cap ₹11.9B (≈ $127M) · ISIN INE492A01029

What is Heubach Colorants India Limited really worth?

HC Heubach Colorants India Limited HEUBACHIND · BSE
Price₹383.50
Fair Value₹378.93
Upside−1.2%
Quality74/100

A solid business, currently priced close to our fair value of ₹378.93.

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Strengths

generates free cash flow
Ranks above peers (8/13)

Risks

!Weak Growth (revenue 3y −0.5 %/yr)
!Thin margins · 7.4% net margin
!Moderate moat 46/100
Evidence: High Range ₹284.20 – ₹473.66

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 22 days ago

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • The price sits in the upper half of our model range, so the margin of safety is thin.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

₹674.40 ₹261.40 Fair Value ₹378.93 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹261.40 – ₹674.40 · fair‑value band ₹284.20 – ₹473.66 · the ₹383.50 price screens above the ₹378.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Heubach Colorants India Limited (HEUBACHIND) currently trades at ₹383.50, while our model-based Fair Value estimate is ₹378.93, implying the stock looks roughly 1.2% fairly valued today. The Quality Score stands at 74/100 (solid quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of ₹517.41 per share, and 13 of the 24 models we run sit above the ₹383.50 price. Bear case: the Asset-Based group reads lowest at ₹151.91, and 11 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Heubach Colorants India Limited generated revenue of ₹8.3B at a net margin of 7.4%. Revenue declined 16.2% year over year. It earns a return on equity of 11.7%. The stock trades on a trailing P/E of 18.2 (as of Jul 5, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹284.20 (bear case) to ₹473.66 (bull case); at ₹383.50, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 38% below its 52-week high and 42% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −58% fair-value upside, at −1%, HEUBACHIND screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 12 months have passed since. In that time the company retained roughly ₹26.54 per share, which is 7.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model 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. Evidence
Highest evidence
FCF DCF best evidence ₹515.32 ₹681.80 ₹957.64 76
Growth DCF ₹531.32 ₹691.47 ₹940.89 73
Residual Income ₹199.68 ₹220.72 ₹308.49 73
All 24 models by family
DCF Models
FCF DCF best evidence ₹515.32 ₹681.80 ₹957.64 76
Owner Earnings ₹345.91 ₹448.09 ₹617.39 71
5Y Revenue Exit ₹388.84 ₹507.49 ₹665.59 68
5Y EBITDA Exit ₹391.65 ₹512.33 ₹658.53 71
5Y P/E Exit ₹394.60 ₹517.41 ₹651.27 67
10Y Revenue Exit ₹426.30 ₹538.37 ₹666.02 63
10Y EBITDA Exit ₹435.11 ₹541.60 ₹661.19 64
10Y P/E Exit ₹436.93 ₹544.97 ₹656.22 60
Earnings-Based
Graham-Dodd ₹151.57 ₹285.07 ₹354.40 63
EPV ₹287.86 ₹323.06 ₹353.85 68
Dividend Discount
Gordon GGM ₹137.73 ₹186.89 ₹236.80 66
DDM Multi-Stage ₹137.73 ₹190.49 ₹252.94 64
Multiples
P/E Multiple ₹284.20 ₹378.93 ₹473.66 63
P/S Multiple ₹284.20 ₹378.93 ₹473.66 58
P/B Multiple ₹284.20 ₹378.93 ₹473.66 55
EV/EBIT ₹371.39 ₹469.61 ₹567.83 63
EV/EBITDA ₹355.51 ₹448.44 ₹541.36 64
EV/Revenue ₹332.10 ₹441.55 ₹550.99 52
Asset-Based
NCAV (Graham) ₹113.37 ₹151.91 ₹226.73 51
Growth DCF
Growth DCF ₹531.32 ₹691.47 ₹940.89 73
Rev-Margin DCF ₹388.84 ₹515.40 ₹663.81 68
Economic Profit
Residual Income ₹199.68 ₹220.72 ₹308.49 73
ROIC Compounder ₹292.22 ₹336.49 ₹382.50 67
Growth Earnings
Growth-Adj P/E ₹204.90 ₹292.71 ₹380.52 65

Widest divergence: DCF Models (₹517.41) versus Asset-Based (₹151.91). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 18.2 as of Jul 5, 2026
P/S ratio 1.14 P/E × margin
EPS (TTM) ₹26.54 price ÷ EPS = P/E 18.2
Dividend yield 2.9% payout 41.9%
Net margin 6.3% FY2025
Return on equity 11.7% TTM
More key figures
Profitability
Return on assets (EBIT) 7.0% avg 4y
Operating margin 7.0% TTM
Growth
Revenue (TTM) ₹8.3B TTM
Revenue growth (YoY) −16.2% 3y avg −0.5%
EPS growth (YoY) −11.7%
Balance sheet & cash flow
Free cash flow ₹987M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 74 · Market factors (momentum, volatility) 41

Profitability 58
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 96
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Heubach Colorants India Limited engages in the manufacture and sale of specialty chemicals in India and internationally. The company operates through Plastics and Coatings, and Specialty Chemicals segments.

Full company description

Heubach Colorants India Limited engages in the manufacture and sale of specialty chemicals in India and internationally. The company operates through Plastics and Coatings, and Specialty Chemicals segments. It offers organic and inorganic pigments, and pigment preparations for various applications, including paints, plastics, coatings, printing inks, non-impact printing inks, rubber, and other special applications. The company also provides specialty and aluminum dyes, corrosion protection pigments, and optical brighteners. It exports its products to approximately 75 countries. The company was formerly known as Clariant Chemicals (India) Limited and changed its name to Heubach Colorants India Limited in October 2022. Heubach Colorants India Limited was incorporated in 1956 and is headquartered in Navi Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

Heubach Colorants India Limited reported revenue of ₹8.2B in FY2025 versus ₹8.3B in FY2022, a compound −0.5%/yr. Reported net income was ₹514M in FY2025, compounding +5.9%/yr from FY2022.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
₹8.2B
Latest YoY
+4.8%
Avg. revenue growth/yr (3Y) 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.
−0.5%
Value creation/yr (3Y, in INR) Earnings growth per share (CAGR 3 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+21.0% (18.1 + 2.9)
Revenue −0.5%/yr
FY22 ₹8.3B
FY23 ₹7.6B
FY24 ₹7.8B
FY25 ₹8.2B
Net income +5.9%/yr
FY22 ₹433M
FY23 ₹192M
FY24 ₹411M
FY25 ₹514M

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Cite: Fair Value Calculator (2026). "Heubach Colorants India Limited Fair Value". https://www.fairvalue-calculator.com/stock/HEUBACHIND

Peer Group

Specialty Chemicals · 695 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 74 · Top 25%
Fair Value upside −1% · Above median
Return on equity (TTM) 12% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 7% · Below median
Revenue growth −16% · Bottom 25%
Dividend yield (TTM) 2.9% · Above median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 18.2× · Cheaper than median
P/B 2.28× · Pricier than median
P/S (TTM) 1.44× · Pricier than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 11.8× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE32 · sector 0
FUTURE0 · sector 20
PAST47 · sector 23
HEALTH0 · sector 95
DIVIDEND58 · sector 28

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $485.35 $222.03 −54%
The Sherwin-Williams Company SHW $344.86 $143.38 −58%
Ecolab Inc ECL $286.75 $96.18 −66%
Air Products and Chemicals, Inc APD $308.09 $122.14 −60%
Givaudan SA GIVN CHF 3,282 CHF 1,498 −54%
Wanhua Chemical Group 600309 ¥77.66 ¥68.03 −12%
500820 500820 ₹2,757 ₹557.43 −80%
Novozymes A/S NSISB kr 456.40 kr 169.99 −63%
Asian Paints Limited ASIANPAINT ₹2,630 ₹696.23 −74%
PPG Industries, Inc PPG $114.22 $71.31 −38%

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Frequently asked questions

Is Heubach Colorants India Limited (HEUBACHIND) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹378.93 versus a price of ₹383.50, about −1% upside (fairly valued).
What is the fair value of HEUBACHIND?
Our model-based fair value for Heubach Colorants India Limited is ₹378.93 (as of Aug 13, 2026), built from audited fundamentals. The current price: ₹383.50.
What is the quality score of HEUBACHIND?
Heubach Colorants India Limited has a Quality Score of 74/100. 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 revenue of Heubach Colorants India Limited (HEUBACHIND)?
Heubach Colorants India Limited reported trailing-twelve-month revenue of about ₹8.3B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of HEUBACHIND?
The net profit margin of Heubach Colorants India Limited is about 7.4%, meaning it keeps roughly 7.4% of revenue as net income. Based on the latest reported figures.
Does Heubach Colorants India Limited pay a dividend?
Heubach Colorants India Limited currently shows a dividend yield of about 2.90% relative to its recent price (as of Aug 13, 2026).
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