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RESONANCE SPECIALTIES LTD.-$ (RESONANCE) Fair Value & Analysis

Basic Materials · IN · Market cap ₹1.6B

RS RESONANCE SPECIALTIES LTD.-$ RESONANCE · BSE
Price₹177.60
Fair Value₹151.25
Upside-14.8%
Quality71/100
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Healthy Growth
Solidly profitable · 11.5% net margin
Low debt · generates free cash flow
0.73% dividend yield
Ranks above peers (9/14)
Moderate moat 63/100
Evidence: High Range ₹110.62 – ₹189.07 Share as image

Fair value as of: Aug 20, 2026

From 24 valuation models · updated today

A solid business, but screening 15% overvalued on our models.

What matters now

  • Our model range runs from ₹110.62 (bear) to ₹189.07 (bull), base ₹151.25. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 71/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹237.37 ₹66.47 Fair Value ₹151.25 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range ₹66.47 – ₹237.37 · fair‑value band ₹110.62 – ₹189.07 · the ₹177.60 price screens above the ₹151.25 fair value. Dashed = 300-day average. As of Aug 20, 2026.

Full chart & analysis →

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Analysis

RESONANCE SPECIALTIES LTD.-$ (RESONANCE) currently trades at ₹177.60, while our model-based Fair Value estimate is ₹151.25, implying the stock looks roughly 14.8% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, RESONANCE SPECIALTIES LTD.-$ generated revenue of ₹902M at a net margin of 11.5%. Revenue grew 1.1% year over year. It earns a return on equity of 15.2%. Net debt stands at ₹18.8M. Fundamentals as of Aug 20, 2026

Our scenario range runs from ₹110.62 (bear case) to ₹189.07 (bull case); at ₹177.60, 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 near its 52-week high and 131% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -55% fair-value upside, at -15%, RESONANCE screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Growth DCF ₹124.79 ₹204.91 ₹322.83 80
Residual Income ₹58.43 ₹69.84 ₹138.37 76
Rev-Margin DCF ₹97.32 ₹162.61 ₹249.15 74
All 24 models by family
DCF Models
FCF DCF ₹127.52 ₹220.68 ₹367.94 38
Owner Earnings ₹74.75 ₹129.58 ₹216.25 31
5Y Revenue Exit ₹97.32 ₹163.59 ₹252.88 39
5Y EBITDA Exit ₹99.10 ₹167.35 ₹252.47 41
5Y P/E Exit ₹113.01 ₹196.66 ₹293.10 38
10Y Revenue Exit ₹104.78 ₹168.91 ₹266.46 36
10Y EBITDA Exit ₹108.29 ₹171.46 ₹266.14 37
10Y P/E Exit ₹116.80 ₹191.34 ₹297.89 35
Earnings-Based
Graham-Dodd ₹61.24 ₹307.30 ₹424.17 54
Lynch FV ₹83.21 ₹118.87 ₹154.53 50
PEG = 1.0 ₹83.21 ₹118.87 ₹154.53 46
EPV ₹77.29 ₹87.93 ₹96.79 59
Multiples
P/E Multiple ₹114.82 ₹153.09 ₹191.36 63
P/S Multiple ₹87.95 ₹117.27 ₹146.58 58
P/B Multiple ₹114.82 ₹153.09 ₹191.36 55
EV/EBIT ₹114.53 ₹152.95 ₹191.37 53
EV/EBITDA ₹90.27 ₹120.61 ₹150.94 54
EV/Revenue ₹81.35 ₹116.53 ₹151.71 43
Asset-Based
NCAV (Graham) ₹31.72 ₹42.51 ₹63.44 50
Growth DCF
Growth DCF ₹124.79 ₹204.91 ₹322.83 80
Rev-Margin DCF ₹97.32 ₹162.61 ₹249.15 74
Economic Profit
Residual Income ₹58.43 ₹69.84 ₹138.37 76
ROIC Compounder ₹82.83 ₹106.94 ₹138.18 72
Growth Earnings
Growth-Adj P/E ₹114.09 ₹162.99 ₹211.89 68

Widest divergence: DCF Models (₹168.91) versus Asset-Based (₹42.51). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹902M
Revenue growth (YoY) +1.1%
Net margin 11.5%
Return on equity 15.2%
Free cash flow ₹136M FY2025
P/E ratio 19.7
More key figures
Operating margin 21.7%
EPS (TTM) ₹9.01
Dividend yield 0.7%
EPS growth (YoY) +51.3%
Net debt ₹18.8M FY2025

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 70 · Market factors (momentum, volatility) 84

Profitability 70
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 90
Price trend over the last 3–12 months (market factor)
52W Momentum 100
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.

About the company

Resonance Specialties Limited engages in the manufacture and marketing of specialty chemicals in India and internationally.

Full company description

Resonance Specialties Limited engages in the manufacture and marketing of specialty chemicals in India and internationally. It offers pyridine, a chemical used in manufacturing agrochemicals, pharmaceuticals and bulk drugs, dyes, rubber chemicals, etc.; cyanopyridines that are applied in manufacturing of niacinamide; and picolines, including alpha, beta, and gamma picolines used in manufacturing vinyl latex rubber, vitamin B3, and anti-tuberculosis drugs. The company also provides nutritional drug products, such as zinc and chromium picolinate, chromium polynicotinate, niacin, niacinamide, and Isoniazid; alpha picolinic and dipicolinic acids; solvents, including acetonitrile and valeronitrile; lutidines for anti-ulcer drugs; and collidines for omeprazole, lansoprazole, rebaprazole, and esomeprazole. The company was formerly known as Armour Polymers Limited. Resonance Specialties Limited was incorporated in 1989 and is based in Mumbai, India.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

RESONANCE SPECIALTIES LTD.-$ reported revenue of ₹902M in FY2025 versus ₹742M in FY2021, a compound +5.0%/yr. Reported net income was ₹104M in FY2025, compounding −4.2%/yr from FY2021.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
₹902M
Latest YoY
+16.0%
Avg. 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.
+15.3%
Avg. growth/yr (5Y) 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.
+5.1%
Avg. growth/yr (9Y) 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.
+11.4%
Revenue +5.0%/yr
FY21 ₹742M
FY22 ₹588M
FY23 ₹553M
FY24 ₹778M
FY25 ₹902M
Net income −4.2%/yr
FY21 ₹124M
FY22 ₹50.0M
FY23 ₹29.7M
FY24 ₹65.7M
FY25 ₹104M

RESONANCE screens 15% overvalued. Compare with BASF SE →

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Peer Group

Chemicals · 333 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 71 · Top 25%
Fair Value upside −15% · Above median
Return on equity (TTM) 15% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth 1% · Below median
Dividend yield (TTM) 0.6% · Bottom 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 19.7× · Cheaper than median
P/B 2.15× · Pricier than median
P/S (TTM) 1.74× · Pricier than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 11.3× · Pricier than median

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
VALUE14 · sector 0
FUTURE6 · sector 19
PAST61 · sector 20
HEALTH99 · sector 94
DIVIDEND11 · sector 32

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 467.04 MXN -55%
PT Barito Pacific Tbk, BRPT 1,855 IDR 1,584 IDR -15%
LG Chem, Ltd 051910 275,500 KRW 587,755 KRW +113%
SRF Limited 503806 ₹2,609 ₹749.17 -71%
542812 542812 ₹4,709 ₹791.05 -83%
Navin Fluorine International Limited NAVINFLUOR ₹8,357 ₹2,146 -74%
Deepak Nitrite Limited DEEPAKNI ₹1,768 ₹824.05 -53%
523642 523642 ₹2,484 ₹1,745 -30%
506285 506285 ₹4,048 ₹1,589 -61%
Kansai Nerolac Paints Limited 500165 ₹209.25 ₹80.51 -62%

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Frequently asked questions

Is RESONANCE SPECIALTIES LTD.-$ (RESONANCE) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of ₹151.25 versus a price of ₹177.60, about −15% (overvalued).
What is the fair value of RESONANCE?
Our model-based fair value for RESONANCE SPECIALTIES LTD.-$ is ₹151.25 (as of Aug 20, 2026), built from audited fundamentals. The current price: ₹177.60.
What is the quality score of RESONANCE?
RESONANCE SPECIALTIES LTD.-$ has a Quality Score of 71/100. 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 RESONANCE SPECIALTIES LTD.-$ (RESONANCE)?
RESONANCE SPECIALTIES LTD.-$ reported trailing-twelve-month revenue of about ₹902M (latest available figure, as of Aug 20, 2026).
What is the net profit margin of RESONANCE?
The net profit margin of RESONANCE SPECIALTIES LTD.-$ is about 11.5%, meaning it keeps roughly 11.5% of revenue as net income. Based on the latest reported figures.
Does RESONANCE SPECIALTIES LTD.-$ pay a dividend?
RESONANCE SPECIALTIES LTD.-$ currently shows a dividend yield of about 0.73% relative to its recent price (as of Aug 20, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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