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14th May 2025 · SEBI-Registered Analyst

Sudarshan Chemicals

Founded in 1952, Sudarshan initially operated in multiple segments, including agrochemicals and masterbatches. Over time, the company strategically narrowed its focus to become a pure-play pigment manufacturer. Today, it stands as India's largest pigment producer with approximately 35% domestic market share and ranks among the top global players in the pigment industry In October 2024, Sudarshan Chemical announced the acquisition of the Germany-based Heubach Group for €127.5 million. This move aimed to expand Sudarshan's global footprint and technological capabilities in the pigment sector. The acquisition was completed in March 2025, positioning Sudarshan as a more formidable player in the global pigments market Over the past decade, Sudarshan has demonstrated consistent financial growth: Revenue CAGR: 10% EBITDA CAGR: 11% PAT CAGR: 12% These figures reflect the company's strong operational efficiency and strategic focus .

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