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Shivalik Rasayan Ltd
(SHIVALIK)
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Rating:60Neutral
Price Target:
₹430.00
▲(19.86% Upside)
Action:Reiterated
Date:09/17/26
The score is capped primarily by weak cash generation (negative operating and free cash flow) despite a solid, low-leverage balance sheet and steady revenue growth. Technicals are a meaningful positive with strong trend and momentum, but valuation is a clear headwind due to the high P/E and very low dividend yield.
Positive Factors
Steady Revenue Growth
Consistent revenue expansion indicates resilient demand for the company’s chemical intermediates and specialty products. Continued top-line growth can support operating scale, customer development, and reinvestment in manufacturing capacity over the next several quarters.
Negative Factors
Persistent Negative Cash Generation
Persistent negative operating and free cash flow signals weak conversion of reported business activity into cash. This can increase reliance on cash reserves or financing to support operations and investment, reducing flexibility if working-capital pressure continues.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue Growth
Consistent revenue expansion indicates resilient demand for the company’s chemical intermediates and specialty products. Continued top-line growth can support operating scale, customer development, and reinvestment in manufacturing capacity over the next several quarters.
Read all positive factors
Shivalik Rasayan Ltd (SHIVALIK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹6.32B
Dividend Yield0.13%
Average Volume (3M)9.95K
Price to Earnings (P/E)45.4
Beta (1Y)0.69
Revenue Growth14.88%
EPS Growth-9.46%
CountryIN
Employees267
SectorGeneral
Sector StrengthN/A
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)8.67
Shares Outstanding15,750,365
10 Day Avg. Volume9,044
30 Day Avg. Volume9,949
Financial Highlights & Ratios
PEG Ratio-1.05
Price to Book (P/B)0.58
Price to Sales (P/S)0.94
P/FCF Ratio-5.96
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Shivalik Rasayan Ltd Business Overview & Revenue Model
Company Description
Established on March 16, 1979, by Rahul Bishnoi, Shivalik Rasayan Limited is an Indian firm specializing in the creation of pharmaceutical and agrochemical products. Based in New Delhi, its offerings notably feature organophosphorous-based insecti...
How the Company Makes Money
Shivalik Rasayan Ltd primarily makes money by manufacturing and selling chemical intermediates and specialty chemicals to industrial customers on a B2B basis. Revenue is generated through (1) sale of manufactured chemical products (the core stream...
Shivalik Rasayan Ltd Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
78
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.75B | 3.68B | 3.12B | 2.72B | 2.34B | 2.07B |
| Gross Profit | 1.45B | 1.00B | 805.70M | 1.32B | 1.20B | 1.13B |
| EBITDA | 466.35M | 498.42M | 485.11M | 461.64M | 493.13M | 504.71M |
| Net Income | 136.70M | 121.36M | 166.96M | 127.17M | 212.35M | 256.06M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 8.19B | 7.34B | 6.92B | 5.78B | 4.88B |
| Cash, Cash Equivalents and Short-Term Investments | 343.68M | 343.68M | 279.69M | 377.38M | 306.71M | 707.58M |
| Total Debt | 0.00 | 1.14B | 938.83M | 859.67M | 655.12M | 411.22M |
| Total Liabilities | -5.99B | 2.20B | 1.98B | 1.85B | 1.59B | 1.24B |
| Stockholders Equity | 5.99B | 5.99B | 4.15B | 3.90B | 3.10B | 2.87B |
Cash Flow | ||||||
| Free Cash Flow | -267.77M | -581.61M | -294.37M | -757.31M | -821.81M | -138.32M |
| Operating Cash Flow | -168.43M | -414.68M | -86.05M | -80.75M | -189.49M | 111.34M |
| Investing Cash Flow | -157.64M | -233.18M | -208.31M | -743.08M | -707.72M | -233.56M |
| Financing Cash Flow | 514.76M | 711.84M | 196.69M | 894.49M | 496.34M | 782.07M |
Shivalik Rasayan Ltd Technical Analysis
Positive
358.75
Price Trends
309.97
Positive
273.54
Positive
286.07
Positive
Market Momentum
31.02
Positive
62.47
Neutral
65.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SHIVALIK, the sentiment is Positive. The current price of 358.75 is below the 20-day moving average (MA) of 373.92, above the 50-day MA of 309.97, and above the 200-day MA of 286.07, indicating a bullish trend. The MACD of 31.02 indicates Positive momentum. The RSI at 62.47 is Neutral, neither overbought nor oversold. The STOCH value of 65.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SHIVALIK.
Shivalik Rasayan Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹5.67B | 19.47 | ― | 0.49% | 11.71% | 79.88% | |
62 Neutral | ₹2.72B | 17.66 | ― | 1.56% | 3.55% | -21.35% | |
62 Neutral | ₹2.48B | 13.18 | ― | 0.13% | 12.41% | 51.78% | |
60 Neutral | ₹6.32B | 45.45 | ― | 0.13% | 14.88% | -9.46% | |
57 Neutral | ₹24.89B | 34.82 | ― | 0.13% | 27.57% | 135.05% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹3.80B | 18.31 | ― | 0.26% | 17.28% | -10.19% |
* General Sector Average
IN:SHIVALIK
Shivalik Rasayan Ltd
392.55
-43.81
-10.04%
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610.00
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437.30
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-20.95%
IN:PODDARMENT
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257.00
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IN:SRD
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39.30
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-39.66%
Shivalik Rasayan Ltd Corporate Events
Shivalik Rasayan Publishes EGM Voting Results, Highlights Governance Focus
Aug 22, 2026
Shivalik Rasayan Limited disclosed the voting results of its Extraordinary General Meeting held on August 20, 2026 in Dehradun, in line with SEBI listing requirements. The meeting saw participation from promoters and a sizeable public shareholder ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.