Sudarshan Chemical Industries Limited Stock Price

3yr target: ₹1,850. From ₹1,137 that's +63%, or ~17.6% a year. Cost of equity is 15.3% Q1 changed the odds, not just the numbers. The acquired business is annualising near €48m against €35m guided — so the weak outcomes I'd been weighting heavily simply aren't likely anymore. And by FY29 this thing carries four years of evidence, which means a 6x de-rating stops being a live scenario and 11-13x becomes the central case. Re-weighting for both is what takes you from ₹1,467 on a 2yr view to ₹1,850 on 3yr. Two-thirds of that move is just another year of earnings; one-third is the re-rating. The assumptions. Built off Q1 normalised — legacy ₹114cr, not the ₹127cr headline, since ₹13cr is inventorised overhead per the company's own footnote. Legacy rolled at 12% (management guides 12-13%, took the low end). Acquired rolled at 4% revenue growth — no European demand recovery assumed anywhere. All the value comes from margin expanding toward management's own "high single digit to low double digit," none from a demand call. One caveat on my own number: The maths gives ₹1,961. I'm publishing ₹1,850 because the top end double-counts optimism — a 13x multiple and a €104m outcome need the same things to go right, so they shouldn't be treated as independent. The number that matters more than the target: ₹1,705. That's what it's worth if the acquired business freezes at Q1's 6.5% margin and never improves again, everything else at base. Still +50%. No forecast required — it only needs last quarter not to reverse. Bear and hard stop stays ₹910.