Shivalik Rasayan Limited

NSE: SHIVALIK · Unclassified

₹318.80+7.03%06 Nov 2026

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Instant answers about Shivalik Rasayan Limited — computed from its filings, no language model

Market cap₹502 cr

Current price₹318.80

High / Low₹462 / ₹210

P/E36.7

P/B0.84

Book value₹380.4

ROE2.3%

ROCE4.5%

Debt / equity0.19

Dividend yield0.43%

EPS (TTM)₹8.69

Face value₹5

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

	FY22	FY23	FY24	FY25	FY26
Revenue	214.8	234.4	273.0	311.8	368.0
EBITDA	46.8	42.9	39.2	40.2	45.8
Operating margin	21.8%	18.3%	14.4%	12.9%	12.4%
Interest	2.5	4.3	7.6	9.3	9.6
Depreciation	11.0	11.6	12.4	15.8	18.8
Profit before tax	37.0	31.7	23.1	23.4	21.5
Tax	2.7	1.8	5.1	3.0	3.5
Net profit	0.0	29.8	16.4	16.7	12.1
EPS ₹	18.12	15.02	10.75	10.60	7.71
Operating cash flow	9.9	-18.9	-6.4	-7.6	-34.0
Capex	25.0	63.2	79.2	20.8	23.3
Dividend paid	0.7	0.7	2.0	2.0	2.1
Total assets	—	578.2	692.5	734.0	818.9
Equity	—	360.4	507.6	536.0	599.1

Quarterly performance

last 19 quarters · ₹ crore

showing latest 8 of 19 periods

	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26
Revenue	59.5	48.1	57.8	56.3	57.4	62.9	64.5	67.0	70.2	71.2	74.6	82.4	85.3	69.4	89.3	93.8	82.0	102.8	96.3
Operating profit	11.9	10.3	11.8	11.0	10.0	10.1	11.4	9.7	8.9	9.3	9.4	11.8	13.3	5.8	11.0	12.0	10.3	12.4	11.2
Operating margin	20.0%	21.4%	20.5%	19.5%	17.4%	16.1%	17.6%	14.4%	12.6%	13.0%	12.6%	14.3%	15.6%	8.3%	12.3%	12.8%	12.6%	12.1%	11.6%
Other income	1.3	1.9	1.4	0.8	1.5	0.9	0.4	0.6	1.5	1.5	0.6	0.3	1.6	5.7	0.6	0.4	1.2	1.9	1.0
Interest	0.7	0.9	1.0	0.9	1.1	1.4	1.5	2.0	1.6	2.6	1.9	2.5	2.3	2.7	2.6	2.2	2.3	2.5	2.1
Depreciation	2.9	2.9	3.0	2.8	3.0	2.8	2.8	3.4	3.0	3.1	3.5	4.7	4.8	2.8	4.8	4.7	5.1	4.2	4.4
Profit before tax	9.6	8.4	9.2	8.2	7.4	6.8	7.5	4.8	5.8	5.1	4.6	5.0	7.8	6.0	4.2	5.5	4.1	7.7	5.7
Tax	1.2	0.3	0.8	0.5	0.8	-0.2	1.0	2.2	1.4	0.5	0.7	0.6	0.9	0.8	1.3	1.2	0.5	0.6	1.2
Net profit	0.0	0.0	0.0	5.5	6.7	7.1	6.5	1.9	3.1	3.4	3.5	4.0	6.9	4.1	1.6	3.0	2.7	4.5	3.4
EPS ₹	4.28	4.51	4.40	3.81	3.27	2.28	2.28	1.26	2.03	2.26	2.27	2.58	3.39	2.62	1.02	1.93	1.71	2.87	2.16
Revenue YoY	—	—	—	—	-3.6%	30.7%	11.5%	19.0%	22.4%	13.2%	15.8%	23.0%	21.5%	-2.6%	19.7%	13.8%	-3.8%	48.2%	7.9%
Profit YoY	—	—	—	—	—	—	—	-66.0%	-54.1%	-51.4%	-45.7%	113.3%	126.8%	20.1%	-54.5%	-23.9%	-61.1%	9.7%	112.5%

Earlier results (standalone, Mar '15 – Sep '21)

₹ crore · from BSE, before the NSE XBRL filings begin

Shivalik Rasayan Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

	FY16†	FY17†	FY18†	FY19†	FY20†	FY21†
Revenue	42.6	40.9	43.6	47.9	60.8	84.9
Operating profit	4.8	6.8	7.3	6.3	9.4	18.7
Operating margin	11.4%	16.6%	16.7%	13.1%	15.5%	22.1%
Other income	0.6	0.5	0.7	4.3	—	—
Interest	—	2.0	1.3	1.1	0.9	0.5
Depreciation	0.4	0.4	0.3	0.8	1.0	6.1
Profit before tax	4.0	4.9	6.4	8.7	8.7	12.5
Tax	1.3	1.6	1.2	-0.3	-0.0	-0.2
Net profit	2.7	3.3	5.2	8.9	8.8	12.8

Quarters

showing latest 8 of 27 periods

	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†	JUN '18†	SEP '18†	DEC '18†	MAR '19†	JUN '19†	SEP '19†	DEC '19†	MAR '20†	JUN '20†	SEP '20†	DEC '20†	MAR '21†	JUN '21†	SEP '21†
Revenue	11.6	10.3	10.9	10.7	10.6	10.8	11.2	10.6	8.4	11.6	10.2	10.1	11.7	12.8	11.2	12.5	11.4	14.5	16.1	15.9	14.2	18.2	21.6	22.9	22.1	22.9	24.2
Operating profit	0.6	0.7	1.2	1.1	1.9	1.5	1.6	1.8	1.9	1.9	1.3	2.0	2.1	2.2	1.4	1.2	1.5	1.9	1.6	2.3	3.6	2.4	3.3	6.4	6.6	6.5	5.8
Operating margin	5.0%	6.3%	11.3%	9.9%	18.0%	13.6%	14.6%	16.6%	23.0%	16.0%	13.0%	19.4%	18.3%	16.8%	12.7%	9.3%	13.3%	12.8%	10.3%	14.7%	25.1%	13.2%	15.3%	28.0%	29.9%	28.3%	23.9%
Other income	0.1	0.1	0.1	0.3	0.1	0.0	0.2	0.0	0.3	0.0	0.6	0.0	0.1	0.0	0.0	0.1	4.2	0.4	0.8	—	—	0.1	—	0.2	0.0	0.0	0.0
Interest	0.3	—	0.2	0.2	0.6	0.3	0.5	0.3	0.9	0.3	0.2	0.2	0.5	0.3	0.2	0.3	0.3	0.2	0.3	0.2	0.2	0.0	0.2	0.2	0.1	0.3	0.2
Depreciation	0.1	0.0	0.1	0.1	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.3	0.2	0.2	0.2	0.2	0.2	0.4	0.9	1.1	2.3	1.7	1.3	1.3
Profit before tax	0.3	0.7	1.0	1.1	1.2	1.1	1.2	1.4	1.2	1.4	1.6	1.7	1.7	1.8	0.9	0.7	5.2	1.9	1.9	2.0	2.9	1.6	2.0	4.1	4.8	4.9	4.3
Tax	0.1	0.2	0.3	0.4	0.4	0.4	0.4	0.5	0.3	0.5	0.5	0.6	-0.4	0.3	-0.1	-0.0	-0.4	-0.1	0.0	-0.0	0.0	-0.1	-0.1	-0.1	-0.1	-0.1	-0.1
Net profit	0.2	0.5	0.7	0.7	0.8	0.7	0.8	0.9	0.9	1.0	1.1	1.1	2.1	1.6	1.0	0.8	5.6	2.0	1.9	2.0	2.9	1.6	2.1	4.2	4.8	5.0	4.4
EPS ₹	0.65	1.38	1.93	2.05	2.42	2.03	2.28	2.66	2.67	2.81	3.07	3.21	5.50	1.48	0.92	0.70	4.89	1.46	1.38	1.45	2.08	0.00	1.52	3.04	3.52	3.62	3.18
Revenue YoY	—	—	—	—	-8.1%	4.0%	2.5%	-1.0%	-21.0%	8.2%	-9.0%	-5.0%	40.0%	10.2%	9.7%	23.9%	-2.4%	13.3%	43.9%	27.5%	24.5%	25.6%	34.7%	43.8%	54.9%	25.4%	11.7%
Profit YoY	—	—	—	—	277.3%	48.9%	18.2%	30.0%	10.8%	37.1%	34.6%	20.9%	126.1%	62.5%	-7.6%	-30.9%	170.7%	28.8%	95.9%	161.8%	-49.2%	-19.4%	10.0%	110.6%	69.6%	207.4%	109.6%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 16 periods

	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26
ROE	2.0%	4.3%	5.3%	7.1%	6.0%	5.0%	2.9%	2.3%	2.8%	3.5%	3.5%	3.1%	2.7%	2.0%	2.0%	2.3%
ROCE	11.9%	11.3%	8.6%	8.3%	7.5%	7.2%	5.3%	4.9%	4.8%	5.3%	5.2%	5.2%	4.8%	4.3%	4.4%	4.5%
Net margin	2.5%	5.5%	8.2%	10.7%	8.8%	7.0%	5.4%	4.2%	4.7%	5.7%	6.0%	5.1%	4.7%	3.4%	3.2%	3.6%
EBITDA margin	20.3%	19.6%	18.3%	17.6%	16.3%	15.1%	14.4%	13.1%	13.2%	13.9%	12.9%	12.8%	12.5%	11.7%	12.4%	12.3%
Debt / equity	0.16	0.16	0.16	0.16	0.17	0.17	0.15	0.15	0.19	0.19	0.18	0.18	0.17	0.17	0.19	0.19
Interest coverage	11.00	9.59	8.30	7.26	5.54	4.92	4.04	3.51	3.39	3.43	3.51	3.29	3.39	3.00	3.24	3.54
Asset turnover	0.43	0.42	0.41	0.42	0.37	0.39	0.39	0.41	0.42	0.44	0.42	0.44	0.42	0.42	0.45	0.46

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 8 periods

	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26
Share capital	7.2	7.2	7.8	7.8	7.8	7.9	7.9	7.9
Other equity / reserves	274.2	353.1	362.1	499.8	499.5	528.1	578.7	591.2
Total equity	281.4	360.4	369.9	507.6	507.3	536.0	586.5	599.1
Borrowings	46.4	57.7	62.7	76.1	96.7	93.9	100.4	113.6
Current liabilities	110.5	143.6	152.7	158.4	181.1	178.2	192.3	190.2
Non-current liabilities	6.7	15.4	19.7	26.5	26.6	19.9	25.3	29.6
Total assets	519.5	578.2	677.3	692.5	715.0	734.0	804.1	818.9
Property, plant & equipment	218.8	217.3	216.1	213.1	311.5	335.7	336.4	334.0
Capital work-in-progress	11.1	57.3	79.3	116.8	—	—	—	—
Investments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Inventories	50.1	75.0	90.0	101.8	105.0	117.7	130.5	146.9
Receivables	76.5	84.8	106.7	86.7	87.5	96.1	112.3	115.1
Cash & equivalents	77.9	30.7	66.7	37.7	37.0	28.0	46.8	34.4

Cash flow

annual · ₹ crore · line = free cash flow

	FY22	FY23	FY24	FY25	FY26
Cash from operations	9.9	-18.9	-6.4	-7.6	-34.0
Cash from investing	-23.4	-70.8	-85.8	-12.5	-21.2
Cash from financing	79.5	49.6	99.2	10.3	61.6
Capex	25.0	63.2	79.2	20.8	23.3
Free cash flow	-15.1	-82.2	-85.5	-28.4	-57.3
Dividends paid	0.7	0.7	2.0	2.0	2.1

Where the assets sit

Mar '26 · ₹ crore

Fixed assets (PPE)

₹334.0 cr41%

Inventories

₹146.9 cr18%

Receivables

₹115.1 cr14%

Cash & equivalents

₹34.4 cr4%

Other assets

₹188.5 cr23%

Peer comparison

largest in Unclassified · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Avantel Limited	36,86,04,549	138.69	—	1059360.68	0.0%
Ducol Organics And Colours Limited	19,55,275	120.00	—	20089.13	0.0%
Jio Platforms Limited	12,57,181	1,406.40	—	3.57	—
SBI Funds Management Limited	1,01,750	499.55	—	—	—
Tamilnadu Telecommunication Limited	91,314	9.93	—	—	—
Manipal Health Enterprises Limited	76,294	646.70	—	—	—
INDO-MIM Limited	59,042	1,219.50	—	—	—
AvenuesAI Limited	45,138	129.25	153.6	9.51	6.2%
Dhoot Transmission Limited	32,761	1,601.60	—	8.11	—
3M India Limited	31,071	27,570.00	53.8	17.57	32.7%
Shivalik Rasayan Limited	502	318.80	36.7	0.84	2.3%

StoxGud checklist: Neutral setup · 5/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-12.7%

6 months+15.2%

1 year-26.0%

3Y CAGR-22.5%

5Y CAGR—

10Y CAGR—

50-day avg₹347.24

200-day avg₹282.41

RSI (14)40

FAQs

What is the share price of Shivalik Rasayan Limited?

Shivalik Rasayan Limited (SHIVALIK) closed at ₹318.80 on NSE on 06 Nov 2026.

What is the market cap of Shivalik Rasayan Limited?

₹502 crore at the latest close.

What is the P/E ratio of Shivalik Rasayan Limited?

36.7, on trailing-twelve-month earnings from its filings.

How fast is Shivalik Rasayan Limited growing?

Shivalik Rasayan Limited: revenue has compounded at 16.2% a year over three years; net profit at -25.9% a year. Latest-quarter revenue is up 7.9% year on year, profit up 112.5%.

How profitable is Shivalik Rasayan Limited?

On a trailing-twelve-month basis return on equity is 2.3%, return on capital employed 4.5%, operating margin 12.3%, net margin 3.6%.

How much debt does Shivalik Rasayan Limited have?

Shivalik Rasayan Limited is lightly geared: debt to equity is 0.19 with borrowings of ₹114 cr against cash of ₹34 cr (balance sheet of 2026-03-31). Operating profit covers interest 3.5 times.

Financials parsed from Shivalik Rasayan Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from DEC '21, annual from FY22, balance sheet from Sep '22. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.