SADHANA NITROCHEM LTD (SADHNANIQ): Financials & Fundamentals History

Share Price

₹2.25

ROCE

-11.0%

Market Cap

₹682 cr

Revenue (TTM)

₹49 cr

P/S

14.0x

P/B

1.5x

ROE

-18.7%

Operating Margin

8.5%

Debt / Equity

0.2x

Promoter Holding

60.9%

12M Momentum

13.6%

52-week range

₹1.27₹3.32

48% of the way from its 52-week low to its high

Price risk

1Y volatility

58.4%

Beta vs sector

1-year daily

0.98

Balance sheet & cash

Interest cover

operating profit ÷ interest

-2.3x

Cash from profit, 3Y

operating cash flow ÷ net profit

0.47x

low

Share count, 1Y

+200.0%

What is the price implying?

Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Process Industries The market-wide Expectations lists

What changed?

Oct '26Volume reached 7.9x its 50-day median on 2026-10-30; price -3.8% that day.
Sep '26Moved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
Aug '26Share count is up 200.0% over 12 months.
Jun '26Promoter holding rose 30.9 pts to 60.9% (largest rise in the history since 2019-01).
Jun '26Debt / equity halved over 12 months to 0.25x.
Apr '26Volume reached 13.4x its 50-day median on 2026-04-08; price +5.5% that day.
Mar '26Fell 95% from the Jun 2023 peak to the Mar 2026 low.
Mar '26Slipped to the bottom quartile of Process Industries on EPS growth (from the 3rd quartile).

Show 22 earlier events

Mar '26Volume reached 28.9x its 50-day median on 2026-03-25; price +1.5% that day.
Dec '25Promoter holding fell 26.8 pts to 30.0% (largest drop in the history since 2019-01).
Dec '25EPS (TTM) turned negative.
Dec '25Slipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
Dec '25Volume reached 5.1x its 50-day median on 2025-12-23; price +4.3% that day.
Sep '25Promoter holding fell 8.2 pts to 56.7% (largest drop in the history since 2019-01).
Sep '25Slipped to the 3rd quartile of Process Industries on operating margin (from the top quartile).
Aug '25P/E fell below the 10th percentile of its own history to date (113.0x).
Jul '25Share count is up 32.0% over 12 months.
Jul '25Volume reached 112.2x its 50-day median on 2025-07-10; price +4.8% that day.
Jun '25Year-on-year EPS growth turned positive.
Jun '25Slipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
Jun '25Debt / equity fell below 1.0x (0.88x).
Jun '25Dividend payout cut from 91% to 0% of profit.
Jun '25Volume reached 21.5x its 50-day median on 2025-06-11; price -5.0% that day.
Mar '25EPS (TTM) turned positive.
Mar '25Moved into the 2nd quartile of Process Industries on EPS growth (from the bottom quartile).
Jan '25Volume reached 5.8x its 50-day median on 2025-01-02; price +1.8% that day.
Dec '24EPS (TTM) turned negative.
Dec '24Slipped to the bottom quartile of Process Industries on EPS growth (from the 2nd quartile).
Dec '24Volume reached 42.2x its 50-day median on 2024-12-24; price -14.4% that day.
Jul '24Volume reached 16.2x its 50-day median on 2024-07-11; price +8.1% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Are profits backed by cash?

1 of 3 checks are within range, 2 beyond a threshold.
Tap a check to see how it is measured.

Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion—Not enough data

Not enough reported data to compute this.

Free cash flow0 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 0. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+734 daysBeyond threshold

Debtor days are above the median of the previous three fiscal years by 734 days (976 vs 242). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress48% of fixed assetsWithin range

Capital work-in-progress is 48% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 2 years, promoters trimmed 4.9 pts.
The number of shareholders rose from 36,520 to 75,881 (+108%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters65.8%60.9%-4.9 pts

FIIs0.0%0.0%0.0 pts

DIIs0.1%0.0%0.0 pts

Public and others34.1%39.0%+4.9 pts

Number of shareholders

75,881shareholders+108% since Dec '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

How rough has the ride been?

Maximum drawdown-94.6%not yet recovered

1-year volatility58.4%annualised

Beta vs sector index1.013-year daily, correlation 0.31

Volume spikes1last 90 sessions, 5x the 50-day median

Monthly share price

Last 90 trading days

Drawdown from peak

Largest drawdowns

-94.6% (2023-06 peak to 2026-03 low, not yet recovered)

Most recent volume spikes

2026-10-30: 7.9x the 50-day median, price -3.8% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26

Lower rank Higher rank

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Process Industries sector page Watch it move against Process Industries in the Observatory

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

Company	Sector	Similarity	Closest on
OM INFRA (OMINFRAL)	Industrial Services	65%	operating margin, market cap
THEMIS MEDICARE (THEMISMED)	Health Technology	60%	debt/equity, market cap
WS INDUSTRIES (INDIA) (WSI)	Producer Manufacturing	59%	revenue, market cap
MAX INDIA (MAXIND)	Health Services	52%	ROCE, debt/equity
ONMOBILE GLOBAL (ONMOBILE)	Communications	49%	ROCE, market cap
FAIRCHEM ORGANICS (FAIRCHEMOR)	Process Industries	74%	market cap, revenue growth
AYM SYNTEX (AYMSYNTEX)	Process Industries	41%	operating margin, debt/equity
SATIA INDUSTRIES (SATIA)	Process Industries	39%	market cap, revenue growth

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What happened next to similar setups

−6.5%typical 12-month return vs the marketBelow the base rate

We found 50 past situations where a non-financial company looked like SADHANA NITROCHEM LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −32% to +44% vs the market, against −3% for all non-financial companies in the same months.
The analogs' median sat below that base rate (gap −3.6%, 80% range −16.7% to −0.7%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 6 beyond the range shown, drawn at the edge

Similar setups' median

−6.5%

All companies' median

−2.9%

Beat the market

40% vs 47%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
KERNEX Electronic Technology	Apr 2023	—	-13%	+50%	−29%	+30%
ASIANENE Energy Minerals	Mar 2024	—	-15%	+146%	−17%	−4%
ORIENTHOT Consumer Services	Feb 2022	—	-7%	+101%	−22%	+65%
ORISSAMINE Non-Energy Minerals	Mar 2024	—	-1%	+150%	−22%	−19%
ARROWGREEN Process Industries	Dec 2022	—	-12%	+45%	−15%	+92%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
THOMASCOOK Consumer Services	Jun 2021	—	-14%	+139%	−10%	−8%
EMBDL Finance	Apr 2024	—	-7%	+82%	−8%	−27%
TREJHARA Technology Services	May 2024	—	0%	+113%	−26%	+46%

How reliable is this?

Matched on P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, interest cover and drawdown from 12-month high. Not used (unavailable for this company): P/E. This company is loss-making, so it was only compared with loss-making companies. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to SADHANA NITROCHEM LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-10-30. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Monthly history (42 months)

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-10	—	₹49 cr	-18.7%	-11.0%	0.2x
2026-09	—	₹49 cr	-18.7%	-11.0%	0.2x
2026-08	—	₹50 cr	-19.0%	-11.0%	0.2x
2026-07	—	₹50 cr	-19.0%	-11.0%	0.2x
2026-06	—	₹50 cr	-19.0%	-11.0%	0.2x
2026-05	—	₹90 cr	-17.3%	6.0%	0.9x
2026-04	—	₹90 cr	-17.3%	6.0%	0.9x
2026-03	—	₹90 cr	-17.3%	6.0%	0.9x
2026-02	—	₹117 cr	-0.9%	6.0%	0.9x
2026-01	—	₹117 cr	-0.9%	6.0%	0.9x
2025-12	—	₹117 cr	-0.9%	6.0%	0.9x
2025-11	177.0x	₹158 cr	0.1%	6.0%	0.9x
2025-10	198.0x	₹158 cr	0.1%	6.0%	0.9x
2025-09	250.0x	₹158 cr	0.1%	6.0%	0.9x
2025-08	113.0x	₹166 cr	0.2%	6.0%	0.9x
2025-07	93.0x	₹166 cr	0.2%	6.0%	0.9x
2025-06	120.5x	₹166 cr	0.2%	6.0%	0.9x
2025-05	554.0x	₹181 cr	0.1%	7.0%	1.0x
2025-04	558.0x	₹181 cr	0.1%	7.0%	1.0x
2025-03	454.0x	₹181 cr	0.1%	7.0%	1.0x
2025-02	—	₹188 cr	1.0%	7.0%	1.0x
2025-01	—	₹188 cr	1.0%	7.0%	1.0x
2024-12	—	₹188 cr	1.0%	7.0%	1.0x
2024-11	1321.0x	₹187 cr	0.1%	7.0%	1.0x
2024-10	1366.0x	₹187 cr	0.1%	7.0%	1.0x
2024-09	1517.0x	₹187 cr	0.1%	7.0%	1.0x
2024-08	1614.0x	₹190 cr	0.1%	7.0%	1.0x
2024-07	1770.0x	₹190 cr	0.1%	7.0%	1.0x
2024-06	1412.0x	₹190 cr	0.1%	7.0%	1.0x
2024-05	1167.0x	₹143 cr	0.1%	5.0%	0.6x
2024-04	1445.0x	₹143 cr	0.1%	5.0%	0.6x
2024-03	1293.0x	₹143 cr	0.1%	5.0%	0.6x
2024-02	1549.0x	₹143 cr	0.1%	5.0%	0.6x
2024-01	1775.0x	₹143 cr	0.1%	5.0%	0.6x
2023-12	1795.0x	₹143 cr	0.1%	5.0%	0.6x
2023-11	1844.0x	₹143 cr	0.1%	5.0%	0.6x
2023-10	2090.0x	₹143 cr	0.1%	5.0%	0.6x
2023-09	1732.0x	₹143 cr	0.1%	5.0%	0.6x
2023-08	1640.0x	₹143 cr	0.1%	5.0%	0.6x
2023-07	1853.0x	₹143 cr	0.1%	5.0%	0.6x
2023-06	2100.0x	₹143 cr	0.1%	5.0%	0.6x
2023-05	1139.5x	₹132 cr	0.2%	6.0%	0.7x

Methodology and data notes