Shivam ChemicalsShare price, financial results, shareholding and management
- Market cap
- ₹254 cr
- Stock P/E
- 41.1peers 15.4
- Book value
- ₹24.7
- Price to book
- 6.06
- EV / operating profit
- -
- Market cap to sales
- 0.89
- ROCE · FY26
- 17.0%
- ROE · FY26
- 16.1%
- ROE, 3-year average
- 11.0%
- Operating margin · FY26
- 3.2%peers 11.7%
- Sales growth, 3 years
- 21.9%
- Profit growth, 3 years
- 15.7%
- Debt to equity
- 0.52peers 0.59
- Borrowings
- ₹22 cr
- Interest cover
- 5.5×
- Cash from business / op. profit
- 22%
- Debtor days
- 35
- Pledged
- 0.00%
- Promoter holding
- 73.00%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 368
- 52-week high / low
- ₹159 / ₹60
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Shivam Chemicals share price chart
Close on 5 Nov 2026 · +2.50% on the day · Vol 66,000
Daily prices to 5 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 5 Nov 2026
- 1 month
- +1.8%
- 3 months
- +49.7%
- 6 months
- +34.4%
- 1 year
- +149.0%
- Traded a day, 20 days
- ₹0.30 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +27% | +196% |
| 3 years, a year | +22% | +16% |
| Latest half, H2 FY26 | +18% | +179% |
About Shivam Chemicals: business, products and customers
Shivam Chemicals sells feed minerals and supplements to animal and poultry feed makers across India, and makes hydrated lime through its own factory company in Gujarat. Its shares trade on BSE SME.
Most of the business is trading: the company buys feed ingredients such as di-calcium and mono-calcium phosphate, poultry feed supplement and limestone powder, much of it imported, and distributes them to feed makers through its network across India. Its wholly owned subsidiary, Shivam Chemicals and Minerals Private Limited, makes hydrated lime at Dahej in Gujarat for lime-using industries there, and in FY26 the company leased a quick lime unit at Khimsar in Rajasthan to supply that factory's raw material.
The trading model shapes the numbers. Revenue is mostly the resale value of goods bought from others, so sales are large against a thin margin, and they move with commodity prices and the rupee as much as with tonnes sold. Freight is one of the biggest costs, and with a large share of goods now imported, foreign exchange gains or losses show up in other income. Manufactured goods are still too small to be reported as a separate segment.
Read more about the business
The annual reports say the company competes with both organised and unorganised suppliers and that price decides most customer choices; they name no rivals.
What is new: in FY26 the company added amino acids and feed phosphates sourced from China and Morocco, and custom vitamin premixes sourced from Sri Lanka and sold under the brand Shivamin. Exports, which it had in FY25, stopped in FY26 while imports rose sharply.
From the annual reports for FY25 and FY26.
Read the deeper study ↓In its favour
- Sales have grown fast: 22% a year over three years.
- The promoters own a large part of the company: 73.00%.
To watch
- Whether the Khimsar quick lime unit keeps supplying the Dahej plant and how much the made goods add (Annual report FY26, p.16).
- Sales of the new amino acid, feed phosphate and Shivamin products (Annual report FY26, p.16).
- Operating cash flow after two negative years (Annual report FY26, p.51).
- Imports and currency gains or losses now that exports have stopped (Annual report FY26, p.65 and p.71).
- Customers take longer to pay than before: 35 days in FY26, against 29 in FY20.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Shivam Chemicals revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
Shivam Chemicals half-yearly results
SME companies report every six months · ₹ crore
| H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|
| Sales | 64 | 82.30 | 94.42 | 129.72 | 131.67 | 152.56 |
| Expenses | 63 | 80.52 | 93.12 | 126.43 | 128.28 | 146.86 |
| Operating profit | 2 | 1.78 | 1.29 | 3.29 | 3.38 | 5.70 |
| OPM | 2.4% | 2.2% | 1.4% | 2.5% | 2.6% | 3.7% |
| Interest | 0 | 0.50 | 0.56 | 1.13 | 1.15 | 0.61 |
| Depreciation | 1 | 0.58 | 0.62 | 0.66 | 0.61 | 0.62 |
| Profit before tax | 1 | 1.16 | 0.88 | 2.16 | 2.53 | 5.42 |
| Net profit | 0 | 0.72 | 0.58 | 1.51 | 1.97 | 4.22 |
Shivam Chemicals profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 79 | 96 | 177 | 157 | 146.54 | 224.13 | 284.23 |
| Expenses | 78 | 94 | 171 | 151 | 143.20 | 219.55 | 275.14 |
| Operating profit | 1 | 2 | 6 | 5 | 3.34 | 4.58 | 9.08 |
| OPM | 1.8% | 1.7% | 3.6% | 3.2% | 2.3% | 2.0% | 3.2% |
| Other income | 0 | 0 | 0 | 0 | 0.56 | 1.43 | 1.70 |
| Interest | 0 | 0 | 0 | 0 | 0.76 | 1.69 | 1.76 |
| Depreciation | 0 | 0 | 0 | 0 | 1.15 | 1.28 | 1.24 |
| Exceptional and other items | · | -1 | · | · | · | · | · |
| Profit before tax | 1 | 1 | 6 | 5 | 2.04 | 3.03 | 7.95 |
| Tax rate | 0.0% | 0.0% | 33.3% | 20.0% | 40.7% | 31.0% | 22.1% |
| Net profit | 1 | 1 | 4 | 4 | 1.21 | 2.09 | 6.19 |
| EPS ₹ | 20.50 | 21.75 | 112.25 | 93.25 | 0.97 | 1.26 | 3.64 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY23 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Earnings per share before FY24 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Shivam Chemicals profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 1.8% | 1.7% | 3.6% | 3.2% | 2.3% | 2.0% | 3.2% |
| Tax rate | 0.0% | 0.0% | 33.3% | 20.0% | 40.7% | 31.0% | 22.1% |
| ROCE | · | 13.5% | 52.6% | 23.4% | 9.4% | 11.5% | 17.0% |
| ROE | · | 20.4% | 50.6% | 33.6% | 8.5% | 8.4% | 16.1% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Shivam Chemicals debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. Customers pay faster than they did in FY24, which frees up the company's money.
Bars below the line are cash going out.
Shivam Chemicals balance sheet
At each 31 March · ₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Equity capital | 0.40 | 0.40 | 0.40 | 0.40 | 12 | 17 | 17 |
| Reserves | 4 | 5 | 10 | 13 | 3 | 18 | 25 |
| Net worth | 4.40 | 5.40 | 10.40 | 13.40 | 15 | 35 | 42 |
| Borrowings | 3 | 2 | 5 | 14 | 17 | 15 | 22 |
| Other liabilities | 1.60 | 2.60 | 8.60 | 3.60 | 9 | 8 | 7 |
| Total liabilities | 9 | 10 | 24 | 31 | 41 | 58 | 71 |
| Fixed assets | 1 | 0 | 0 | 4 | 16 | 16 | 15 |
| Capital work in progress | 0 | 0 | 0 | 10 | 0 | 0 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 8 | 10 | 24 | 17 | 25 | 42 | 55 |
Shivam Chemicals cash flow
₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | · | 2 | -3 | 9 | 5 | -15 | 2 |
| Cash from investing | · | 0 | 0 | -14 | -2 | 0 | 0 |
| Cash from financing | · | -2 | 3 | 5 | -3 | 16 | -3 |
| Net cash flow | · | 0 | 0 | 0 | 0 | 1 | -1 |
Working capital
Days
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 29 | 27 | 29 | 28 | 46 | 41 | 35 |
| Inventory days | 1 | 0 | 0 | 0 | 2 | 8 | 8 |
| Days payable | 4 | 9 | 15 | · | 21 | 11 | 7 |
| Cash conversion cycle | 26 | 19 | 14 | 28 | 26 | 38 | 36 |
| Working capital days | 28 | 20 | 22 | 13 | 10 | 37 | 37 |
Shivam Chemicals peers and competitors
Listed SME companies in the same industryBy sales, Shivam Chemicals is number 11 of the 43 listed SME companies in food products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Freshara Agro Exports | 907 | 23.9 | 342 | 38 | 15.0% | 1.02 |
| Adon Agro Commodities | 234 | 10.2 | 324 | 23 | 11.0% | 0.62 |
| Madhusudan Masala | 382 | 20.7 | 292 | 18.5 | 11.3% | 0.68 |
| Shivam Chemicals | 254 | 41.1 | 284 | 6.2 | 3.2% | 0.52 |
| Pajson Agro India | 893 | 35.7 | 256 | 25 | 14.0% | 0.25 |
| Healthy Life Agritec | 29 | 7.2 | 228 | 4 | 2.8% | 0.20 |
| DSM Fresh Foods | 120 | 8.6 | 221 | 14 | 14.0% | 0.55 |
| Peshwa Wheat | - | - | 216 | 16 | 11.0% | 0.56 |
| Chemkart India | 299 | 14.9 | 215 | 20 | 13.0% | 0.04 |
| Baba Food Processing (India) | 36 | - | 205 | -1.4 | 1.5% | 1.19 |
| Goyal Salt | 181 | 15.9 | 200 | 11.4 | 12.1% | 0.66 |
| Median of the 10 others | 234 | 15.4 | 225 | 17.3 | 11.7% | 0.59 |
Shivam Chemicals shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
Shivam Chemicals shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Apr 24 | Sep 24 | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 73.00% | 73.00% | 73.00% | 73.00% | 73.00% | 73.00% | 73.00% | 73.00% |
| Foreign investors (FIIs) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.48% | - |
| Indian institutions (DIIs) | 1.36% | 0.00% | 4.89% | 5.65% | 4.72% | 2.83% | 3.19% | - |
| Number of shareholders | 1,242 | 457 | 338 | 310 | 310 | 371 | 363 | 368 |
Shivam Chemicals study: the business from its own documents
Read from 3 of the company's own documentsShivam Chemicals key facts from the filings
Each figure with the document it comes from
- Group revenue in FY26
- ₹284.2 cr
- Consolidated sales, up from ₹224.1 cr in FY25.Annual report FY26, p.16
- Group profit in FY26
- ₹6.2 cr
- Consolidated profit after tax, up from ₹2.1 cr, about two rupees for every hundred of sales.Annual report FY26, p.16
- Own-made goods
- ₹2.3 cr
- Manufactured goods in the parent's FY26 sales of ₹269.6 cr; the rest was traded goods.Annual report FY26, p.65
- Imports
- ₹102.0 cr
- Traded goods imported in FY26 at landed value, against ₹23.2 cr in FY25.Annual report FY26, p.71
- Exports
- Nil
- No export sales in FY26, against ₹31.1 cr in FY25.Annual report FY26, p.65
Show 5 more facts
- Currency gain
- ₹1.7 cr
- Foreign exchange gain in the parent's FY26 other income, against profit before tax of ₹6.7 cr.Annual report FY26, p.16 and p.65
- Dahej lime plant
- 60,000 MT
- Hydrated lime capacity at the subsidiary; the leased Khimsar unit now meets over half its raw material.Annual report FY25, p.16; Annual report FY26, p.16
- Cash from operations
- ₹-6.5 cr
- Parent's operating cash flow in FY26, after ₹-10.4 cr in FY25, as stock and advances grew.Annual report FY26, p.51
- Loan to subsidiary
- ₹7.5 cr
- All of the parent's loans given, to the Dahej company, plus a ₹4.3 cr bank guarantee for it.Annual report FY26, p.70 and p.71
- Promoter stake
- 73.00%
- Held by five promoters at March 2026; the shares listed on BSE SME on 30 April 2024.Annual report FY26, p.30 and p.58
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
The company mostly buys feed ingredients, often from abroad, and supplies them to feed makers on a thin margin, with a small lime factory on the side.
Its weak spots are that price decides most sales, profit leans partly on currency gains, and the business has used more cash than it made.
WatchCan it set its own prices?No. Its own report says price is the deciding factor for most customers.
WatchHow strong is it against rivals?It is mainly a distributor of goods others make, facing organised and unorganised rivals, some with more resources.
AverageWho are its customers?Feed makers across India, with repeat business, and no single large customer is disclosed.
WatchDoes it need a lot of money?Yes. Growth has eaten cash for two years, funded by bank and family loans.
AverageCan it keep finding new work?It keeps adding products to offer through the same network, though nothing is contracted ahead.
WatchDo good and bad years swing a lot?Yes. Trade flows and profit move with commodity prices, freight and the rupee.
Who runs Shivam Chemicals?
Promoters, directors and officers; tap a name for the background
SGSanjiv Girdharlal VasantPromoter and Managing Director · holds 51.10%
B.Com with more than three decades in the chemical industry; on the board since incorporation in October 2010 and responsible for the overall working of the company. Paid ₹0.09 cr a year.
Annual report FY25, p.11; Annual report FY26, p.58 and p.69SSSoham Sanjiv VasantPromoter, Whole-time Director and Chief Financial Officer · holds 5.47%
Whole-time director and CFO, chairs the corporate social responsibility committee; paid ₹0.21 cr in FY26. The filings read give no education or work history. The FY25 annual report records Sanjiv Vasant as the father of Soham Vasant and Shivam Vasant.
Annual report FY25, p.11; Annual report FY26, p.5, p.58 and p.69SSShivam Sanjiv VasantPromoter and Whole-time Director · holds 5.47%
Bachelor of Engineering (mechanical) from Bombay University (2017) and a master's in entrepreneurship from Nottingham University (2019); joined in 2019, runs the supply chain and develops new products. Paid ₹0.21 cr a year.
Annual report FY26, p.11 and p.58MVMayuri VasantPromoter · holds 5.47%
Listed among the promoters and as a relative of key managerial personnel; not a director, and the filings read give no work history.
Annual report FY26, p.58 and p.68RVRajshree VasantPromoter · holds 5.47%
Listed among the promoters and as a relative of key managerial personnel, drawing a salary of ₹0.09 cr in FY26; not a director.
Annual report FY26, p.58 and p.68HBHimani BhootraIndependent Director
Independent director and chair of the audit committee; the filings read give no work history.
Annual report FY26, p.5KBKunal Bharat ShingalaIndependent Director
Independent director and chair of the nomination and remuneration and stakeholders relationship committees; the filings read give no work history.
Annual report FY26, p.5ACAshima ChhatwalCompany Secretary and Compliance Officer
Appointed on 30 January 2026 after the previous company secretary left in August 2025.
Annual report FY26, p.5Shivam Chemicals latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹153 cr (+18%), net profit ₹4.2 cr (+179%) on H2 FY25.
- Shareholding, 30 June 2026: promoters unchanged at 73.00%.
Shivam Chemicals announcements
3 on record, latest first; each opens the filing on the exchange
- Insider Trading / SASTThe Trading Window for dealing in the shares of the Company will be closed from 01st October, 2026 till 48 hours after approval of the Unaudited Standalone and PDF ↗
- AGM/EGMDetail of Voting Results at the 16th Annual General Meeting of the CompanyPDF ↗
- AGM/EGMProceedings of 16th AGM of the Company held on 21st September, 2026PDF ↗
Shivam Chemicals annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Shivam Chemicals share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Shivam Chemicals' data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,69,87,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY23 (₹93.25) and FY24 (₹0.97) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY20 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Shivam Chemicals
What does Shivam Chemicals do?
Shivam Chemicals sells feed minerals and supplements to animal and poultry feed makers across India, and makes hydrated lime through its own factory company in Gujarat. Its shares trade on BSE SME.
What is the share price of Shivam Chemicals?
₹150 at the close on 5 Nov 2026, from the exchange's daily figures.
What is the market cap of Shivam Chemicals?
₹254 cr at the close on 5 Nov 2026, on 1,69,87,000 shares.
What is the P/E of Shivam Chemicals?
41.1 times FY26 profit at the close on 5 Nov 2026 (our arithmetic).
What are Shivam Chemicals' revenue and profit?
Revenue ₹284 cr and profit after tax ₹6 cr in FY26.
Who are the promoters of Shivam Chemicals?
Sanjiv Girdharlal Vasant, Soham Sanjiv Vasant, Shivam Sanjiv Vasant, Mayuri Vasant, Rajshree Vasant; promoters held 73.00% at 30 June 2026.
What is Shivam Chemicals' website?
www.shivamchem.com
More SME companies like Shivam Chemicals
Other listed SME companies in food products, the closest in size first, each read from its own documents.
- Magson Retail And DistributionMAGSON · NSE Emerge · Food Products · listed 2023Market cap ₹261 cr
- Srivari Spices And FoodsSSFL · NSE Emerge · Food Products · listed 2023Market cap ₹243 cr
- Chemkart IndiaCHEMKART · BSE SME · Food ProductsMarket cap ₹278 cr
- Adon Agro CommoditiesADON · BSE SME · Food ProductsMarket cap ₹230 cr
- Shivashrit FoodsSHIVASHRIT · NSE Emerge · Food Products · listed 2025Market cap ₹215 cr
- Chatha FoodsCHATHA · BSE SME · Food ProductsMarket cap ₹212 cr
Built from 3 annual reports, 3 exchange announcements, 8 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.