SEYAIND - Seya Industries

📊 NSE: SEYAIND 🏢 Chemicals 📅 Last Updated: 12/14/2025 13:03

💰 Financial Performance

Revenue Growth by Segment

Revenue from operations declined by 100% YoY, falling from INR 805.84 Lakhs in FY 2023-24 to INR 0.00 in FY 2024-25 due to the company being under the Corporate Insolvency Resolution Process (CIRP).

Geographic Revenue Split

Not disclosed in available documents; however, the company is domiciled in India with shares traded on BSE and NSE.

Profitability Margins

Net Profit Margin is not calculable for FY 2024-25 due to zero operational revenue. Net Loss widened by 81.65%, moving from a loss of INR 347.20 Lakhs in FY 2023-24 to a loss of INR 630.69 Lakhs in FY 2024-25.

EBITDA Margin

Operating Profit before Working Capital changes stood at a negative INR 341.52 Lakhs in FY 2024-25, compared to a positive INR 543.05 Lakhs in FY 2023-24, representing a significant deterioration in core operational viability.

Capital Expenditure

Capital expenditure for R&D was INR 0.00 in both FY 2024-25 and FY 2023-24. The Gross Block for Property, Plant, and Equipment included Leasehold Land valued at INR 53,467.26 Lakhs as of April 1, 2023.

Credit Rating & Borrowing

Total borrowings as of March 31, 2025, were INR 77,298.33 Lakhs (approximately INR 773 Cr), up slightly from INR 77,097.84 Lakhs in FY 2023-24. The company has not provided for interest accrued on borrowings from lenders, which is a significant audit concern.

⚙️ Operational Drivers

Raw Materials

Speciality chemical intermediates (specific chemical names not listed); cost of materials consumed was INR 0.00 in FY 2024-25 due to suspended operations.

Capacity Expansion

No planned expansion disclosed; current focus is on sustaining operations under CIRP and exploring strategic investors for a turnaround.

Raw Material Costs

Raw material costs were 0% of revenue in FY 2024-25 as manufacturing was halted. In FY 2023-24, cost of material consumed was also reported as INR 0.00, suggesting a reliance on existing inventory or toll manufacturing.

Manufacturing Efficiency

Capacity utilization is effectively 0% as revenue from operations was nil for the full year 2024-25.

📈 Strategic Growth

Expected Growth Rate

Growth Strategy

The company is pursuing a turnaround strategy involving the exploration of new opportunities with strategic investors to introduce new product lines and revive operations. Management is focused on cost-cutting, including workforce reduction and deferring all non-essential CapEx.

Products & Services

Speciality Chemicals intermediates used in various industrial applications.

Brand Portfolio

Seya Industries (SEYAIND).

New Products/Services

The company is exploring the introduction of new product lines through strategic investors, though no specific revenue contribution percentages are currently projected.

Strategic Alliances

The company is currently under the management of an Interim Resolution Professional (IRP) and is seeking strategic investors for a turnaround.

🌍 External Factors

Industry Trends

The speciality chemicals industry is evolving toward higher-value intermediates, but Seya's positioning is currently compromised by its insolvency status and lack of operational funding.

Competitive Landscape

The company is currently unable to compete in the market due to its CIRP status and zero operational output.

Competitive Moat

The company's moat in speciality chemicals is currently non-functional due to the cessation of manufacturing and the suspension of the Board of Directors.

Macro Economic Sensitivity

Highly sensitive to liquidity and credit availability; the company attributes its current crisis to pandemic-induced factors.

Consumer Behavior

Not applicable as the company is currently non-operational.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to the Companies Act 2013 and SEBI regulations; however, the Board is currently suspended under the Insolvency and Bankruptcy Code (IBC).

Taxation Policy Impact

The company reported a tax credit/adjustment resulting in a lower Net Loss compared to Profit Before Tax, but specific fiscal policy impacts are not detailed.

Legal Contingencies

The company faces significant legal uncertainties regarding claims and provisions. A major contingency is the non-provision of interest on borrowings from banks and financial institutions, which remains an unquantified liability in the summary snippets.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the successful outcome of the CIRP and the ability to find a strategic investor to restart operations, with a 100% impact on business continuity.