1. At a Glance
Sudarshan is the Picasso of pigments—globally No.3, splashing colors across industries. FY25 saw a big Heubach acquisition (€151.9M) and massive equity raise. Stock trades at a nosebleed P/E 136, while profits are fading like cheap dye.
2. Introduction with Hook
Imagine buying a Ferrari and realizing the fuel costs more than the car. Sudarshan’s FY25 story is just that: revenues ballooned to ₹3,346Cr, but net profits shrunk to ₹60Cr. Investors are still paying premium because, well, pigments are sexy now.
3. Business Model (WTF Do They Even Do?)
- Pigments: Organic, inorganic, and effect pigments.
- Industrial equipment: Pollution control, grinding systems.
- Global reach: 35% market share, third largest worldwide.
Basically, they sell colors, but at a cost that makes accountants cry.
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