Shivalik Rasayan Ltd

SHIVALIK

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Market Cap

₹ 595 Cr

P/E

42.37

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Investment Checklist

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

LOW RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Shivalik Rasayan Limited is primarily engaged in manufacturing organophosphate insecticides, including Dimethoate Technical and Malathion Technical.

In 2016, Shivalik Rasayan acquired a significant share in Medicamen Biotech Limited, gaining full management control in the process.

The company increased its stake in Medicamen Biotech Limited to 41.96% in 2022, signaling a strategic focus on biotech investments.

In April 2023, Shivalik Rasayan commissioned its new Agro & Specialty Chemical plant at Dahej-III, expanding its manufacturing capabilities.

Shivalik Rasayan has diversified its portfolio by venturing into pharmaceuticals, insecticides, and specialty chemicals, presenting opportunities for growth.

Sector

Agro Chemicals

Industry

Pesticides / Agrochemicals - Indian - Medium/Small

Market Cap

595 Cr

Volatility

Moderate Risk

P/E Ratio

42.4

Industry P/E

37.9

PEG Ratio

3.4

P/B Ratio

1.0

52W High

872.65

52W Low

353.35

Sales CAGR

14.21%

14.54%

19.68%

10Y

13.45%

Profit CAGR

12.63%

-10.52%

9.64%

10Y

20.09%

ROE

TTM

2.40%

3.43%

4.47%

10Y

5.49%

ROCE

TTM

4.84%

6.54%

7.81%

10Y

9.75%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
BSHSL	100.88	1,059 Cr	38.21	8.86	0.00	23.21	24.03	17.01
ADVANCE	124.95	800 Cr	31.20	2.72	0.00	—	—	0.00
SHIVALIK	377.95	595 Cr	42.37	1.01	0.13	2.40	4.84	2.39
MAHALIFE	145.00	337 Cr	26.10	2.97	0.00	24.39	20.67	5.96
SIKKO	5.01	219 Cr	41.75	2.54	0.00	6.32	8.11	4.02
JK AGRI	392.00	182 Cr	—	1.69	0.00	52.89	77.48	—
USASEEDS	166.80	168 Cr	19.81	3.09	0.00	14.81	13.24	8.39

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	64	67	70	71	75	82	85	69	89	94
Expenses	53	57	61	62	65	71	72	64	78	82
Operating Profit	11	9.66	8.86	9.28	9.39	12	13	5.75	11	12
OPM %	17.64	14.41	12.62	13.03	12.58	14.26	15.61	8.29	12.31	12.82
Other Income	0.42	0.56	1.50	1.49	0.64	0.35	1.60	5.71	0.60	0.39
Interest	1.47	1.96	1.58	2.61	1.92	2.45	2.26	2.71	2.62	2.22
Depreciation	2.81	3.44	3.01	3.11	3.50	4.66	4.84	2.78	4.82	4.73
Profit Before Tax	7.51	4.81	5.77	5.06	4.60	5.01	7.82	5.98	4.15	5.48
Tax %	13.72	45.11	24.78	9.09	16.09	11.58	11.25	13.21	32.05	21.35
Net Profit	6.48	2.65	4.34	4.60	3.87	4.43	6.94	5.19	2.82	4.30
EPS in Rs	2.65	1.24	2.01	2.23	2.24	2.55	3.35	2.62	1.02	1.93

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	129	157	171	186	198	215	234	273	312	326
Expenses	106	131	147	158	160	168	192	234	272	285
Operating Profit	23	25	23	29	38	47	43	39	40	42
OPM %	17.82	16.11	13.64	15.33	19.21	21.77	18.32	14.40	12.90	12.81
Other Income	0.83	2.60	7.99	3.14	1.13	3.71	4.66	3.98	8.31	8.26
Interest	5.00	3.71	2.05	1.48	1.57	2.50	4.34	7.63	9.33	10
Depreciation	2.30	2.40	3.03	3.51	8.58	11	12	12	16	17
Profit Before Tax	11	20	26	27	29	37	32	23	23	23
Tax %	25.15	24.78	19.99	17.42	14.74	7.31	5.78	22.13	12.75	15.59
Net Profit	8.46	15	21	22	25	34	30	18	20	19
EPS in Rs	5.74	8.40	11.57	13.17	11.32	16.24	12.66	8.13	10.76	8.92
Dividend Payout %	6.26	2.08	4.23	2.46	3.92	2.76	3.49	5.99	4.72	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	3.42	3.42	4.21	6.89	6.89	6.89	7.24	7.24	7.78	—
Reserves	11	7.37	43	158	169	172	280	412	500	—
Borrowings	27	26	21	19	10	29	38	58	76	0.00
Other Liabilities	40	58	82	104	142	155	163	101	109	0.00
Total Liabilities	81	94	151	288	328	363	488	578	692	—
Fixed Assets	27	27	40	41	52	210	221	218	214	0.00
CWIP	0.00	0.45	0.28	26	102	0.00	3.30	57	117	0.00
Investments	0.02	0.07	0.07	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	53	66	110	222	175	153	264	303	362	0.00
Total Assets	81	94	151	288	328	363	488	578	692	—

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	12	8.09	-7.02	-7.70	5.72	59	11	-19	-8.08	-9.20
Cash from Investing Activity	-18	-4.01	-24	-24	-102	-65	-23	-71	-74	-21
Cash from Financing Activity	2.64	-2.55	52	100	10	1.98	78	50	89	21
Net Cash Flow	-3.27	1.52	21	69	-86	-4.26	66	-40	7.07	-9.77

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	50.32%	50.32%	50.05%	47.95%	47.95%	47.95%	47.95%	47.95%	47.95%	47.37%	47.37%	47.37%
FIIs	0.01%	0.01%	0.35%	0.66%	1.18%	1.87%	2.15%	2.16%	3.21%	3.16%	3.25%	3.27%
DIIs	0.00%	0.00%	0.00%	0.24%	0.59%	2.01%	0.88%	2.01%	2.01%	1.75%	1.67%	1.58%
Public	49.67%	49.67%	49.60%	51.14%	50.28%	48.17%	49.01%	47.88%	46.83%	47.71%	47.71%	47.77%
Total Shareholders	8,579	8,460	8,556	9,190	9,149	9,398	10,001	10,627	11,633	12,841	13,399	14,199

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Sep 24, 2025	Sanjay bansal	Insider - Director	Disposal	—	—	1,00,000	0.63
Sep 22, 2025	Aditya shrawat	Insider - Connected Person	Disposal	—	—	20,000	0.13
Dec 04, 2024	Ritesh kantilal oswal	Bulk	Buy	763.01	9.97 Cr	1,30,602	0.82
Jul 01, 2024	Manju bansal	Insider - Connected Person	Disposal	—	—	21,500	0.13
Jun 26, 2024	Manju bansal	Insider - Connected Person	Disposal	628.74	6.82 Cr	1,08,500	0.693
Apr 29, 2024	Yuga stocks and commodities p...	Bulk	Sell	691.95	4.30 Cr	62,147	0.39
Apr 29, 2024	Yuga stocks and commodities p...	Bulk	Buy	686.23	5.64 Cr	82,147	0.52
May 16, 2023	Usha pande	Insider - Directors Immediate Relative	Acquisition	921.00	4.61 Cr	50,000	—
May 16, 2023	Harish pande	Insider - Director	Acquisition	921.00	4.61 Cr	50,000	—
May 16, 2023	Sanjay bansal	Insider - Director	Acquisition	921.00	4.61 Cr	50,000	0.346

Projection

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Last 7 days

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY25

Investor Presentation

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Investor Presentation

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Q1 FY21

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Investor Presentation

Q2 FY20

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Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
BSHSL	100.88	1,059 Cr	38.21	8.86	0.00	23.21	24.03	17.01
ADVANCE	124.95	800 Cr	31.20	2.72	0.00	—	—	0.00
SHIVALIK	377.95	595 Cr	42.37	1.01	0.13	2.40	4.84	2.39
MAHALIFE	145.00	337 Cr	26.10	2.97	0.00	24.39	20.67	5.96
SIKKO	5.01	219 Cr	41.75	2.54	0.00	6.32	8.11	4.02
JK AGRI	392.00	182 Cr	—	1.69	0.00	52.89	77.48	—
USASEEDS	166.80	168 Cr	19.81	3.09	0.00	14.81	13.24	8.39

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	64	67	70	71	75	82	85	69	89	94
Expenses	53	57	61	62	65	71	72	64	78	82
Operating Profit	11	9.66	8.86	9.28	9.39	12	13	5.75	11	12
OPM %	17.64	14.41	12.62	13.03	12.58	14.26	15.61	8.29	12.31	12.82
Other Income	0.42	0.56	1.50	1.49	0.64	0.35	1.60	5.71	0.60	0.39
Interest	1.47	1.96	1.58	2.61	1.92	2.45	2.26	2.71	2.62	2.22
Depreciation	2.81	3.44	3.01	3.11	3.50	4.66	4.84	2.78	4.82	4.73
Profit Before Tax	7.51	4.81	5.77	5.06	4.60	5.01	7.82	5.98	4.15	5.48
Tax %	13.72	45.11	24.78	9.09	16.09	11.58	11.25	13.21	32.05	21.35
Net Profit	6.48	2.65	4.34	4.60	3.87	4.43	6.94	5.19	2.82	4.30
EPS in Rs	2.65	1.24	2.01	2.23	2.24	2.55	3.35	2.62	1.02	1.93

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	129	157	171	186	198	215	234	273	312	326
Expenses	106	131	147	158	160	168	192	234	272	285
Operating Profit	23	25	23	29	38	47	43	39	40	42
OPM %	17.82	16.11	13.64	15.33	19.21	21.77	18.32	14.40	12.90	12.81
Other Income	0.83	2.60	7.99	3.14	1.13	3.71	4.66	3.98	8.31	8.26
Interest	5.00	3.71	2.05	1.48	1.57	2.50	4.34	7.63	9.33	10
Depreciation	2.30	2.40	3.03	3.51	8.58	11	12	12	16	17
Profit Before Tax	11	20	26	27	29	37	32	23	23	23
Tax %	25.15	24.78	19.99	17.42	14.74	7.31	5.78	22.13	12.75	15.59
Net Profit	8.46	15	21	22	25	34	30	18	20	19
EPS in Rs	5.74	8.40	11.57	13.17	11.32	16.24	12.66	8.13	10.76	8.92
Dividend Payout %	6.26	2.08	4.23	2.46	3.92	2.76	3.49	5.99	4.72	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	3.42	3.42	4.21	6.89	6.89	6.89	7.24	7.24	7.78	—
Reserves	11	7.37	43	158	169	172	280	412	500	—
Borrowings	27	26	21	19	10	29	38	58	76	0.00
Other Liabilities	40	58	82	104	142	155	163	101	109	0.00
Total Liabilities	81	94	151	288	328	363	488	578	692	—
Fixed Assets	27	27	40	41	52	210	221	218	214	0.00
CWIP	0.00	0.45	0.28	26	102	0.00	3.30	57	117	0.00
Investments	0.02	0.07	0.07	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	53	66	110	222	175	153	264	303	362	0.00
Total Assets	81	94	151	288	328	363	488	578	692	—

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	12	8.09	-7.02	-7.70	5.72	59	11	-19	-8.08	-9.20
Cash from Investing Activity	-18	-4.01	-24	-24	-102	-65	-23	-71	-74	-21
Cash from Financing Activity	2.64	-2.55	52	100	10	1.98	78	50	89	21
Net Cash Flow	-3.27	1.52	21	69	-86	-4.26	66	-40	7.07	-9.77

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Shivalik Rasayan Limited is primarily engaged in manufacturing organophosphate insecticides, including Dimethoate Technical and Malathion Technical.

In 2016, Shivalik Rasayan acquired a significant share in Medicamen Biotech Limited, gaining full management control in the process.

The company increased its stake in Medicamen Biotech Limited to 41.96% in 2022, signaling a strategic focus on biotech investments.

In April 2023, Shivalik Rasayan commissioned its new Agro & Specialty Chemical plant at Dahej-III, expanding its manufacturing capabilities.

Shivalik Rasayan has diversified its portfolio by venturing into pharmaceuticals, insecticides, and specialty chemicals, presenting opportunities for growth.

Sector

Agro Chemicals

Industry

Pesticides / Agrochemicals - Indian - Medium/Small

Market Cap

595 Cr

Volatility

Moderate Risk

P/E Ratio

42.4

Industry P/E

37.9

PEG Ratio

3.4

P/B Ratio

1.0

52W High

872.65

52W Low

353.35

Sales CAGR

14.21%

14.54%

19.68%

10Y

13.45%

Profit CAGR

12.63%

-10.52%

9.64%

10Y

20.09%

ROE

TTM

2.40%

3.43%

4.47%

10Y

5.49%

ROCE

TTM

4.84%

6.54%

7.81%

10Y

9.75%