Sudarshan Chemical Industries Limited · NSE:SUDARSCHEM
Sudarshan Chemical Industries — Q2 FY26 Earnings Presentation
27 slides from Sudarshan Chemical Industries's earnings presentation, Nov 13, 2025
Slide 1: Cover letter to stock exchanges
13th November, 2025 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Mumbai – 400 001 Bandra Kurla Complex, Scrip Code – 506655 Bandra (East), Mumbai – 400 051 Scrip Symbol - SUDARSCHEM Dear Sir / Madam, Sub : Results Earning
Slide 2: ONE Sudarshan Investor Presentation Q2 FY26
ONE Sudarshan Investor Presentation Q2 FY26 November 13, 2025
Slide 3: Safe harbour statement
Safe harbour statement • This presentation may contain statements which reflect Management’s current views and estimates and could be construed as forward-looking statements • These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results
Slide 4: One Sudarshan introduction
One Sudarshan introduction 3
Slide 5: Sudarshan and Heubach unite forces
Sudarshan and Heubach unite forces Legacy Legacy Top-2 player globally with a legacy of Fastest growing and most over 200 years and about a billion profitable pigment company with Euros in revenue 1,270+ employees A global, value-creating pigment 75+ years of experience in pigment Global manufacturi
Slide 6: Reminder on our value proposition
Reminder on our value proposition Expanded Truly global Unrivalled Pigment Financially manufacturing reach Portfolio and robust footprint Technology 19 All ~1,600 € ~1 bn Manufacturing facilities Major industry segments Pigment products Annual turnover 11 4,000+ ~60 EBITDA Countries with sites Globa
Slide 7: Q2 & H1 FY26 performance update
Q2 & H1 FY26 performance update 6
Slide 8: Market reflections: Low demand for both our customers and us
Market reflections: Low demand for both our customers and us Our observations Low demand across most pigment end-use industries, esp. for coatings and plastics, driven among others by high interest rates and overall low economic growth Most of our global customers degrowing vs. last year Continued h
Slide 9: One Sudarshan Q2 FY26 performance
One Sudarshan Q2 FY 26 performance Consolidated results across legacy Sudarshan and acquired group In ₹ Cr Acquired Legacy Sudarshan Group One Sudarshan Commentary Q2 25 Q1 26 Q2 26 YoY% Q1 26 Q2 26 Q2 25 Q1 26 Q2 26 1. 1 Revenue growth of 2.2% YoY while growth of 13% Sales* 1 2 1,683 697 628 712 2.
Slide 10: Deep-dive pigment performance – Q2 2026
Deep-dive pigment performance – Q2 2026 Pigment-only results across legacy Sudarshan and acquired group In ₹ Cr Acquired Legacy Sudarshan Pigment Group Pigment Global Commentary Q2 25 Q126 Q2 26 YoY% Q1 26 Q2 26 Q2 25 Q1 26 Q2 26 1. 1 Legacy Sudarshan YoY sales marginally lower Sales* 660 578 1 651
Slide 11: One Sudarshan H1 FY26 performance
One Sudarshan H1 FY 26 performance Consolidated results across legacy Sudarshan and acquired group In ₹ Cr Acquired Legacy Sudarshan Group One Sudarshan Commentary H1 25 H1 26 YoY% H1 26 H1 25 H1 26 1. 1 Legacy Sudarshan 1 2 pigment sales marginally Sales* 1,330 1,340 0.8% 3,565 1,330 4,894 lower by
Slide 12: Deep-dive pigment performance – H1 2026
Deep-dive pigment performance – H1 2026 Pigment-only results across legacy Sudarshan and acquired group In ₹ Cr Acquired Legacy Sudarshan Pigment Group Pigment Global Commentary H1 25 H1 26 YoY% H1 26 H1 25 H1 26 1. 1 Legacy Sudarshan pigment sales marginally Sales* 1 1,249 1,229 -1.6% 3,565 1,249 4
Slide 13: Financial Ratios - One Sudarshan
Financial Ratios - One Sudarshan Key ratios FY 23 FY 24 FY 254 H1 264 Earnings Per Share (₹)1 6.5 16.0 22.5 7.5 Return on Capital Employed 2, 5 (%) 6.2% 12.5% 13.7% 10.8% Net debt to Equity Ratio 1.0 0.3 0.3 0.5 Net debt3 (₹ Cr) 797 394 652 1,117 Net working capital as % to revenue 2 20.5% 20.1% 25.
Slide 14: FY26 and next 3-4 years projection for the Acquired Group
FY 26 and next 3-4 years projection for the Acquired Group EBITDA of € 10.3 million in H1 26 for EBITDA in € mn Acquired Group H1 26 EBITDA Revised FY 26 from earlier guidance of 35mn EUR reflecting overall market situation 90-100 Positive outlook on growth in coming quarters: - During insolvency, c
Slide 15: Integration update
Integration update 14
Slide 16: We are steadily progressing in our integration – well on track
We are steadily progressing in our integration – well on track NOT EXHAUSTIVE FORWARD-LOOKING PLAN SUBJECT TO CHANGES Day 1 Pre-Day 1 Month 1 H1 Year 1 Path ahead Ensured business Launch of unified GTM Stabilized operations and Fully turnaround business Act as fully continuity strategies incl. one s
Slide 17: What have we learnt so far?
What have we learnt so far? Positive reconfirmations Only few negative surprises Assets, inventories are in good condition Very high fixed costs Re-affirmation of the great connect and depth Differences in some ways of working takes time into high-value customer applications to change Core functions
Slide 18: Value capture: We are making good progress
Value capture: We are making good progress- Operations, Procurement, Org. design main cost contributors so far Major impact areas Key themes Recent success examples Operations & SCM Optimizing manufacturing and operations to drive Production synergies across Roha 1&2 efficiency and save costs Procur
Slide 19: Outlook
Outlook 18
Slide 20: Why mid-term performance will be very healthy
✓ Customer trust and commitment to grow with us is high - serious relationship once destocking is over Why mid-term performance will be ✓ Strong value capture funnel and accelerated implementation for cost reductions very healthy ✓ Big potential to free up working capital ✓ Systems and data integrat
Slide 21: Thank you
Thank you
Slide 22: About Sudarshan
About Sudarshan 21
Slide 23: Our Governance Structure - Board of Directors
Our Governance Structure - Board of Directors Mrs. Sudha Navandar Mr. Apurva Chandra Non-Executive, Non-Executive, Independent Director Independent Director Mr. Rajendra Mrs. Anu Wakhlu Mariwala Non-Executive, Non-Executive, Independent Director Independent Director Mr. Rajesh. B. Rathi Chairman and
Slide 24: Shareholder Information
Shareholder Information Share Information (as of 30th Sptember 2025) Shareholding Pattern (as of 30th September 2025) NSE Ticker SUDARSCHEM Promoters 8.19% BSE Ticker 506655 FIIs and FPIs 8.53% Market Cap (₹ mn) 1,04,863 Mutual Funds 22.60% % free-float 91.81% Others 60.68% Free-float market cap 96,
Slide 25: Recognition
Recognition Sudarshan has achieved EcoVadis Gold rating. We The company also received “B” Rating on CDP are now among the top 3 percentile company in (formerly known as Carbon Disclosure Project) for the chemical sector. Climate Change and Water Security. 24
Slide 26: Awards and Accolades
Awards and Accolades The EEF Global Navabharat CSR Awards Mahatma Award 2024 for "Significant Achievement in Sustainability Award 2023 in 2023 for Excellence in CSR ESG Excellence HR Excellence Award“ the Platinum Category Activities National CSR Excellence Best Waste Management Award for 'Integrate
Slide 27: Investor Relations Connect
Investor Relations Connect Investor Relations at Sudarshan: Mr. Mandar M. Velankar +91 20 6828 1200 investorrelations@sudarshan.com CIN: L24119PN1951PLC008409 www.sudarshan.com Sudarshan Chemical Industries Limited 7th Floor, Eleven West Panchshil, Survey No. 25, Near PAN Card Club Road, Baner, Pune
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