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Vidhi Specialty Food Ingredients Limited (VIDHIING) Fair Value & Analysis

Basic Materials · IN · Market cap ₹14.2B

VS Vidhi Specialty Food Ingredients Limited VIDHIING · NSE
Price₹319.20
Fair Value₹118.30
Upside-62.9%
Quality62/100
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Mixed Growth
Solidly profitable · 12.9% net margin
Low debt · generates free cash flow
Ranks above peers (9/14)
Moderate moat 62/100
Evidence: High Range ₹74.52 – ₹194.97 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 4 days ago

Share price +4.1% over the past month.

A solid business, but screening 63% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹194.97). The favourable scenario is already priced in.
  • The model range is unusually wide (₹74.52 to ₹194.97). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹559.50 ₹181.10 Fair Value ₹118.30 Apr 2021 Aug 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 ₹181.10 – ₹559.50 · fair‑value band ₹74.52 – ₹194.97 · the ₹319.20 price screens above the ₹118.30 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Vidhi Specialty Food Ingredients Limited (VIDHIING) currently trades at ₹319.20, while our model-based Fair Value estimate is ₹118.30, implying the stock looks roughly 62.9% overvalued today. The Quality Score stands at 62/100 (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, Vidhi Specialty Food Ingredients Limited generated revenue of ₹3.8B at a net margin of 12.9%. Revenue grew 12.0% year over year. It earns a return on equity of 15.6%. Net debt stands at ₹377M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹74.52 (bear case) to ₹194.97 (bull case); at ₹319.20, the current price sits above 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 25% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -68% fair-value upside, at -63%, VIDHIING 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 ₹58.54 ₹97.32 ₹161.84 80
Residual Income ₹65.53 ₹84.07 ₹202.93 76
Rev-Margin DCF ₹74.67 ₹130.14 ₹200.19 74
All 26 models by family
DCF Models
FCF DCF ₹58.68 ₹100.16 ₹170.59 38
Owner Earnings ₹110.17 ₹190.73 ₹327.48 31
5Y Revenue Exit ₹74.67 ₹131.90 ₹209.61 39
5Y EBITDA Exit ₹94.13 ₹171.30 ₹267.76 41
5Y P/E Exit ₹98.98 ₹181.12 ₹274.38 38
10Y Revenue Exit ₹66.05 ₹118.39 ₹198.20 36
10Y EBITDA Exit ₹81.53 ₹146.96 ₹246.02 37
10Y P/E Exit ₹84.73 ₹154.09 ₹251.47 35
Earnings-Based
Graham-Dodd ₹66.66 ₹289.64 ₹396.10 54
Lynch FV ₹74.52 ₹106.45 ₹138.39 50
PEG = 1.0 ₹74.52 ₹106.45 ₹138.39 46
EPV ₹103.03 ₹119.53 ₹133.97 59
Dividend Discount
Gordon GGM ₹41.38 ₹86.05 ₹136.50 70
DDM Multi-Stage ₹41.38 ₹72.56 ₹90.31 61
Multiples
P/E Multiple ₹124.98 ₹166.64 ₹208.30 63
P/S Multiple ₹85.60 ₹114.13 ₹142.67 58
P/B Multiple ₹124.98 ₹166.64 ₹208.30 55
EV/EBIT ₹148.55 ₹196.74 ₹244.92 53
EV/EBITDA ₹121.11 ₹160.15 ₹199.19 54
EV/Revenue ₹83.89 ₹118.13 ₹152.37 43
Asset-Based
NCAV (Graham) ₹32.82 ₹43.98 ₹65.64 50
Growth DCF
Growth DCF ₹58.54 ₹97.32 ₹161.84 80
Rev-Margin DCF ₹74.67 ₹130.14 ₹200.19 74
Economic Profit
Residual Income ₹65.53 ₹84.07 ₹202.93 76
ROIC Compounder ₹114.82 ₹153.36 ₹204.37 72
Growth Earnings
Growth-Adj P/E ₹110.44 ₹157.78 ₹205.11 68

Widest divergence: Multiples (₹160.15) versus Asset-Based (₹43.98). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹3.8B
Revenue growth (YoY) +12.0%
Net margin 12.9%
Return on equity 15.6%
Free cash flow ₹217M FY2026
P/E ratio 32.5
More key figures
Operating margin 15.1%
EPS (TTM) ₹9.81
EPS growth (YoY) +11.4%
Net debt ₹377M FY2026

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 60 · Market factors (momentum, volatility) 47

Profitability 63
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 81
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

Vidhi Specialty Food Ingredients Limited engages in the manufacture and trading of synthetic food colors. The company offers synthetic water-soluble colors, aluminum lakes, FD&C colors and lakes, D&C colors, cosmetic colors, natural colors, blends, and co-blended lakes and granules, as well as color for personal and home care.

Full company description

Vidhi Specialty Food Ingredients Limited engages in the manufacture and trading of synthetic food colors. The company offers synthetic water-soluble colors, aluminum lakes, FD&C colors and lakes, D&C colors, cosmetic colors, natural colors, blends, and co-blended lakes and granules, as well as color for personal and home care. It operates in India, rest of Asia, Europe, South Africa, the Middle East, the United States, and internationally. The company was formerly known as Vidhi Dyestuffs Manufacturing Limited and changed its name to Vidhi Specialty Food Ingredients Limited in August 2016. Vidhi Specialty Food Ingredients Limited was incorporated in 1994 and is based in Mumbai, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Vidhi Specialty Food Ingredients Limited reported revenue of ₹3.8B in FY2026 versus ₹5.3B in FY2022, a compound −7.8%/yr. Reported net income was ₹490M in FY2026, compounding −4.4%/yr from FY2022.

Growth Quality 66/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹3.8B
Latest YoY
−0.6%
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.
−1.4%
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.
+7.9%
Avg. growth/yr (20Y) 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.
+14.8%
Revenue −7.8%/yr
FY22 ₹5.3B
FY23 ₹4.0B
FY24 ₹3.0B
FY25 ₹3.8B
FY26 ₹3.8B
Net income −4.4%/yr
FY22 ₹586M
FY23 ₹377M
FY24 ₹364M
FY25 ₹434M
FY26 ₹490M
Character of growth · EPS growth decomposed (2015-2026) +13.3 % p.a.
Revenue per share +7.5 pp

of which total revenue +7.5 pp · buybacks/dilution +0.0 pp

EBIT margin +3.9 pp
Tax rate +1.6 pp
Residual (interest, one-offs) +0.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

VIDHIING screens 63% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Vidhi Specialty Food Ingredients Limited Fair Value". https://www.fairvalue-calculator.com/stock/VIDHIING

Peer Group

Specialty Chemicals · 672 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 62 · Top 25%
Fair Value upside −63% · Bottom 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 15% · Top 25%
Revenue growth 12% · Above median
Dividend yield (TTM) 1.6% · Above median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 32.5× · Pricier than median
P/B 4.32× · Pricier than 75% of peers
P/S (TTM) 3.73× · Pricier than 75% of peers
P/FCF 0.7× · Cheaper than median
EV/EBITDA 17.9× · 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.

VALUE 0 · sector 0
FUTURE 60 · sector 18
PAST 62 · sector 23
HEALTH 100 · sector 95
DIVIDEND 32 · sector 31

VALUE 0: the price sits above our fair-value range.

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.

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Solar Industries India Limited SOLARINDS ₹18,730 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,702 ₹351.84 -79%
PT Chandra Asri Pacific Tbk TPIA 2,160 IDR 2,322 IDR +8%
Berger Paints India Limited BERGEPAINT ₹559.80 ₹154.46 -72%
Gujarat Fluorochemicals Limited FLUOROCHEM ₹4,566 ₹836.47 -82%
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Frequently asked questions

Is Vidhi Specialty Food Ingredients Limited (VIDHIING) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹118.30 versus a price of ₹319.20, about −63% (overvalued).
What is the fair value of VIDHIING?
Our model-based fair value for Vidhi Specialty Food Ingredients Limited is ₹118.30 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹319.20.
What is the quality score of VIDHIING?
Vidhi Specialty Food Ingredients Limited has a Quality Score of 62/100. 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 Vidhi Specialty Food Ingredients Limited (VIDHIING)?
Vidhi Specialty Food Ingredients Limited reported trailing-twelve-month revenue of about ₹3.8B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of VIDHIING?
The net profit margin of Vidhi Specialty Food Ingredients Limited is about 12.9%, meaning it keeps roughly 12.9% of revenue as net income. Based on the latest reported figures.

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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