---
title: "Sapan Chemicals Ltd (531781) — Share Price, Financials & Analysis"
symbol: "531781"
company: "Sapan Chemicals Ltd"
canonical: "https://tapetide.com/stocks/531781"
isin: "INE823E01035"
bse_code: "531781"
sector: "Information Technology"
industry: "IT - Software"
generated_at: "2026-10-13T11:01:18.906Z"
---

# Sapan Chemicals Ltd (531781)

Canonical page: https://tapetide.com/stocks/531781

## Company

- **BSE Code:** 531781
- **ISIN:** INE823E01035
- **Sector:** Information Technology
- **Industry:** IT - Software
- **Macro Sector:** Information Technology
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-01
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** sapanchem.com

## About

Sapan Chemicals is engaged in the business of of Trading in Share and Finance Activity.

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.
- Stock is trading at 0.72 times its book value

### Weaknesses

- Company has a low return on equity of -0.41% over last 3 years.
- Company has high debtors of 548 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| revenue growth | -3% | 9% | 55% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | -4.82 | 0.25 | 0.42 | 0.43 | -1.48 | 0.17 | 0.13 | 0.16 | 0.19 | 0.3 | 0.33 | 0.26 |
| Expenses | 0.27 | 0.26 | 0.41 | 0.42 | 0.08 | 0.17 | 0.13 | 0.16 | 0.19 | 0.29 | 0.33 | 0.27 |
| Operating Profit | -5.09 | -0.01 | 0.01 | 0.01 | -1.56 | 0 | 0 | 0 | 0 | 0.01 | 0 | -0.01 |
| OPM % | — | -4 | 2.38 | 2.33 | — | 0 | 0 | 0 | 0 | 3.33 | 0 | -3.85 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -5.09 | -0.01 | 0.01 | 0.01 | -1.56 | 0 | 0 | 0 | 0 | 0.01 | 0 | -0.01 |
| Tax % | 0 | 0 | 0 | 0 | 0 | — | — | — | — | 0 | — | 0 |
| Net Profit | -5.09 | -0.01 | 0.01 | 0.01 | -1.56 | 0 | 0 | 0 | 0 | 0.01 | 0 | -0.01 |
| EPS in Rs | -6.36 | -0.01 | 0.01 | 0.01 | -1.95 | 0 | 0 | 0 | 0 | 0.01 | 0 | -0.01 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.16 | 0.15 | 0 | 0.11 | 0.07 | 0.11 | 0.48 | 1.15 | 0.64 | 0.62 |
| Expenses | 0.16 | 0.15 | 0.1 | 0.09 | 0.09 | 0.1 | 0.64 | 1.17 | 0.64 | 0.62 |
| Operating Profit | 0 | 0 | -0.1 | 0.02 | -0.02 | 0.01 | -0.16 | -0.02 | 0 | 0 |
| OPM % | 0 | 0 | — | 18.18 | -28.57 | 9.09 | -33.33 | -1.74 | 0 | 0 |
| Other Income | 0.05 | 0.02 | 0.12 | -0.02 | 0.03 | 0 | -4.93 | -1.53 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0.04 | 0.01 | 0.01 | -0.01 | 0 | 0.01 | -5.09 | -1.55 | 0 | 0 |
| Tax % | 0 | 0 | 0 | 0 | — | 0 | 0 | 0 | — | — |
| Net Profit | 0.04 | 0.01 | 0.01 | -0.01 | 0 | 0.01 | -5.09 | -1.55 | 0 | 0 |
| EPS in Rs | 0.05 | 0.01 | 0.01 | -0.01 | 0 | 0.01 | -6.36 | -1.94 | 0 | 0 |
| Dividend Payout % | 0 | 0 | 0 | 0 | — | 0 | 0 | 0 | — | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| Reserves | -0.02 | -0.01 | 0.01 | 0 | 0.01 | 0.01 | -5.08 | -6.63 | -6.63 | -6.63 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 0.08 | 0.78 | 1.9 | 2.86 | 2.64 | 2.77 | 2.33 | 2.12 | 2.08 | 2.03 |
| Total Liabilities | 8.06 | 8.77 | 9.91 | 10.86 | 10.65 | 10.78 | 5.25 | 3.49 | 3.45 | 3.4 |
| Fixed Assets | 0.08 | 0.07 | 0.06 | 0.06 | 0.05 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 3.14 | 4.81 | 6.91 | 8.33 | 7.93 | 7.89 | 2.83 | 1.28 | 1.28 | 1.28 |
| Other Assets | 4.84 | 3.89 | 2.94 | 2.47 | 2.67 | 2.85 | 2.38 | 2.17 | 2.13 | 2.08 |
| Total Assets | 8.06 | 8.77 | 9.91 | 10.86 | 10.65 | 10.78 | 5.25 | 3.49 | 3.45 | 3.4 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -2.53 | 1.65 | 2.29 | 1.54 | -0.36 | 0.09 | -5.5 | 0 | 0 | 0 |
| Cash from Investing Activity | 2.54 | -1.67 | -2.1 | -1.41 | 0.39 | 0.01 | 5.46 | 0 | 0 | 0 |
| Cash from Financing Activity | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow | 0.01 | -0.02 | 0.19 | 0.13 | 0.03 | 0.1 | -0.04 | 0 | 0 | 0 |
| Free Cash Flow | 2.23 | 1.65 | 2.29 | 1.54 | -0.36 | 0.09 | -5.5 | 0 | 0 | 0 |
| CFO/OP | — | — | -2290 | 7700 | 1800 | 900 | 3438 | 0 | — | — |

### Ratios

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 4676.56 | 4404.33 | — | 2754.09 | 4901.43 | 3318.18 | 752.81 | 320.57 | 558.91 | 547.5 |
| Inventory Days | 0 | 0 | — | — | — | — | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 4676.56 | 4404.33 | — | 2754.09 | 4901.43 | 3318.18 | 752.81 | 320.57 | 558.91 | 547.5 |
| Working Capital Days | 10037.5 | 6862 | — | -6735.91 | -8864.29 | -5475 | -973.33 | -345.96 | -564.61 | -582.82 |
| ROCE % | 0.5 | 0.13 | 0.12 | -0.12 | 0 | 0.12 | -2.93 | -0.93 | 0 | 0 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Dec 2017 | Sep 2018 |
| --- | --- | --- | --- |
| Promoters | 0.01% | 0.01% | 0.01% |
| Public | 99.99% | 99.99% | 99.99% |
| No. of Shareholders | 1923 | 1923 | 1923 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Jun 2018 | Sep 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 99.99% | 99.99% | 99.99% | 99.99% | 99.99% | 99.99% | 99.99% | 99.99% | 99.99% |
| No. of Shareholders | 1923 | 1923 | 1923 | 1923 | 1923 | 1923 | 1923 | 1923 | 1923 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 4 / 4 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 1.19 | Buy |
| EMA (10) | 1.24 | Sell |
| SMA (20) | 1.34 | Sell |
| EMA (20) | 1.42 | Sell |
| SMA (50) | 2.3 | Sell |
| EMA (50) | 2.07 | Sell |
| SMA (100) | 3.09 | Sell |
| EMA (100) | 2.45 | Sell |
| SMA (200) | 2.29 | Sell |
| EMA (200) | 2.38 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 22.42 | Buy |
| MACD (12,26,9) | -0.3 | Buy |
| Stochastic (14,3,3) | 36.69 | Neutral |
| ADX (14) | 65.31 | Buy |
| Williams %R (14) | -51.61 | Neutral |
| ATR (14) | 0.05 | High Volatility |
| ROC (12) | -6.77 | Sell |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 54.52 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-03-05 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/xml-data/corpfiling/AttachLive/dbd516ba-ccf6-421b-866a-f442b72f041e.pdf) |
| 2026-02-18 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e33184a0-32c2-459c-b158-7178d8d90e3f.pdf) |
| 2026-02-11 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c8327519-8c19-49d3-9fe4-60ebade55290.pdf) |
| 2026-02-11 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e5319042-14c6-4b08-97aa-e2f56dffc98e.pdf) |
| 2026-02-10 | [Announcement under Regulation 30 (LODR)-Credit Rating](https://www.bseindia.com/xml-data/corpfiling/AttachHis/465a3272-1dd8-46e2-8e65-7406c3895833.pdf) |
| 2026-02-10 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e2c77ae7-aaf5-46d0-b5ad-40ab4584937f.pdf) |
| 2026-02-10 | [Board Meeting Outcome for Standalone And Consolidated Financial Results For The Quarter And Nine Months Ended On December 31, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachLive/af90ab86-aa53-4187-a63c-3a07919b4f58.pdf) |
| 2021-01-12 | [Initiation of Corporate Insolvency Resolution Process (CIRP) & Appointment of Interim Resolution Professional (IRP)](https://www.bseindia.com/xml-data/corpfiling/AttachHis/AF0BA211-3CD6-40AE-9AD7-AE6EFDD30378-080642.pdf) |
| 2018-04-28 | [March 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=614f8a13-eb52-4fb5-ad12-a714ea743a9a.pdf) |
| 2018-04-28 | [March 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/4/614f8a13-eb52-4fb5-ad12-a714ea743a9a.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9b21ad5f-8456-4717-b0cc-3342d2cc61bd.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7b048190-5796-4e0f-8fea-409000d61d12.pdf) |
| Mar 2018 | [Annual Report 2018](https://www.bseindia.com/bseplus/AnnualReport/531781/5317810318.pdf) |
| Mar 2017 | [Annual Report 2017](https://www.bseindia.com/bseplus/AnnualReport/531781/5317810317.pdf) |
| Mar 2015 | [Annual Report 2015](https://www.bseindia.com/bseplus/AnnualReport/531781/5317810315.pdf) |
| Mar 2014 | [Annual Report 2014](https://www.bseindia.com/bseplus/AnnualReport/531781/5317810314.pdf) |
| Mar 2013 | [Annual Report 2013](https://www.bseindia.com/bseplus/AnnualReport/531781/5317810313.pdf) |
| Mar 2012 | [Annual Report 2012](https://www.bseindia.com/bseplus/AnnualReport/531781/5317810312.pdf) |
| Mar 2011 | [Annual Report 2011](https://www.bseindia.com/bseplus/AnnualReport/531781/5317810311.pdf) |
| Mar 2010 | [Annual Report 2010](https://www.bseindia.com/bseplus/AnnualReport/531781/5317810310.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Feb 2026 | [Concall - Feb 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e33184a0-32c2-459c-b158-7178d8d90e3f.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/716dc04e-be5c-4238-9cb5-165be8773a12.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e5af75f2-5e24-4389-aa06-c0eb72c720f6.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b7f46f3e-a4c2-49e9-8e41-1a9624e6b9f7.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7831e973-13c1-4d1b-83aa-ec1843f2c482.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4afd4baf-3f85-40c6-8ee1-4a22b1cd7ada.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d825d163-2c0e-4b90-9c87-3b434089a88b.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3c6601f6-727a-4d96-bb57-68f5fb503183.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d88ec1b6-078a-4d6e-b137-5621b292884d.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a516fcf0-bcb7-4519-996c-1271e62edfab.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2026-02-10 | Credit rating update — Infomerics |
| 2025-07-09 | Credit rating update — Infomerics |
| 2025-05-20 | Credit rating update — Brickwork Ratings |
| 2024-02-28 | Credit rating update — Brickwork Ratings |
| 2023-08-23 | Credit rating update — Brickwork Ratings |
| 2022-03-31 | Credit rating update — Brickwork Ratings |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2021-01-12 | [Initiation of Corporate Insolvency Resolution Process (CIRP) & Appointment of Interim Resolution Professional (IRP)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=AF0BA211-3CD6-40AE-9AD7-AE6EFDD30378-080642.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:01:18.906Z.