{"id":300616,"date":"2026-10-12T09:44:16","date_gmt":"2026-10-12T04:14:16","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=300616"},"modified":"2026-10-12T09:44:16","modified_gmt":"2026-10-12T04:14:16","slug":"shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/","title":{"rendered":"Shivalik Rasayan vs Asahi Songwon vs Aarti Surfactants: Which Stock Should You Track"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Shivalik Rasayan PE 28.57, mkt cap Rs 562 crore. Asahi Songwon Colors PE 12.50, mkt cap Rs 428 crore. Aarti Surfactants PE 22.38, mkt cap Rs 412 crore.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants is a side-by-side comparison of three companies from the specialty chemicals space. On this comparison, Shivalik Rasayan carries a market capitalisation of about Rs 562 crore, against Rs 428 crore for Asahi Songwon Colors and Rs 412 crore for Aarti Surfactants, with return on equity of 2.03%, 6.92% and 5.04% respectively. Each company&#8217;s numbers are presented here without a declared preference, since the right stock depends on an investor&#8217;s own criteria.<\/p>\n<\/div>\n<p>Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants starts with the core numbers most investors compare within the specialty chemicals segment: market capitalisation, valuation multiples, profitability, dividend yield and the latest quarterly results. Figures below are sourced as of October 2026 and will shift with daily price moves.<\/p>\n<p>All three names sit in the specialty chemicals bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses. The sections below cover the company profiles, a valuation table, the latest quarter and a five-quarter trend for revenue and net profit.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#Shivalik_Rasayan_Asahi_Songwon_Colors_and_Aarti_Surfactants_Company_Overview\" title=\"Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants: Company Overview\">Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants: Company Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#Shivalik_Rasayan_vs_Asahi_Songwon_Colors_vs_Aarti_Surfactants_Valuation_and_Profitability_Snapshot\" title=\"Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants: Valuation and Profitability Snapshot\">Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants: Valuation and Profitability Snapshot<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#Shivalik_Rasayan_vs_Asahi_Songwon_Colors_vs_Aarti_Surfactants_Latest_Quarterly_Results\" title=\"Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants: Latest Quarterly Results\">Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants: Latest Quarterly Results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#Shivalik_Rasayan_vs_Asahi_Songwon_Colors_vs_Aarti_Surfactants_Five-Quarter_Revenue_and_Net_Profit_Trend\" title=\"Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants: Five-Quarter Revenue and Net Profit Trend\">Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants: Five-Quarter Revenue and Net Profit Trend<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#What_Should_Investors_Look_at_Beyond_These_Numbers\" title=\"What Should Investors Look at Beyond These Numbers?\">What Should Investors Look at Beyond These Numbers?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#FAQs_on_Shivalik_Rasayan_vs_Asahi_Songwon_Colors_vs_Aarti_Surfactants\" title=\"FAQs on Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants\">FAQs on Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#What_is_the_market_cap_difference_between_Shivalik_Rasayan_Asahi_Songwon_Colors_and_Aarti_Surfactants\" title=\"What is the market cap difference between Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?\">What is the market cap difference between Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#What_are_the_PE_and_PB_ratios_of_Shivalik_Rasayan_Asahi_Songwon_Colors_and_Aarti_Surfactants\" title=\"What are the PE and PB ratios of Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?\">What are the PE and PB ratios of Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#Which_of_the_three_has_the_highest_ROE\" title=\"Which of the three has the highest ROE?\">Which of the three has the highest ROE?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#Which_of_these_three_stocks_pays_the_highest_dividend_yield\" title=\"Which of these three stocks pays the highest dividend yield?\">Which of these three stocks pays the highest dividend yield?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#What_is_the_debt_to_equity_ratio_for_Shivalik_Rasayan_Asahi_Songwon_Colors_and_Aarti_Surfactants\" title=\"What is the debt to equity ratio for Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?\">What is the debt to equity ratio for Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#What_were_the_latest_quarterly_revenue_and_net_profit_of_Shivalik_Rasayan_Asahi_Songwon_Colors_and_Aarti_Surfactants\" title=\"What were the latest quarterly revenue and net profit of Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?\">What were the latest quarterly revenue and net profit of Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/shivalik-rasayan-vs-asahi-songwon-vs-aarti-surfactants\/#Does_this_comparison_recommend_one_of_Shivalik_Rasayan_Asahi_Songwon_Colors_and_Aarti_Surfactants\" title=\"Does this comparison recommend one of Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?\">Does this comparison recommend one of Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Shivalik_Rasayan_Asahi_Songwon_Colors_and_Aarti_Surfactants_Company_Overview\"><\/span><strong>Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants: Company Overview<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Shivalik Rasayan<\/strong> is a listed Indian company in the specialty chemicals space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 562 crore, a return on equity of 2.03% and a book value of Rs 378.08 per share. Its quarterly revenue moved from Rs 89.91 crore in June 2025 to Rs 97.31 crore in June 2026, a change of +8.2%.<\/p>\n<p><strong>Asahi Songwon Colors<\/strong> is a listed Indian company in the specialty chemicals space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 428 crore, a return on equity of 6.92% and a book value of Rs 230.24 per share. Its quarterly revenue moved from Rs 151.34 crore in June 2025 to Rs 189.70 crore in June 2026, a change of +25.3%.<\/p>\n<p><strong>Aarti Surfactants<\/strong> is a listed Indian company in the specialty chemicals space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 412 crore, a return on equity of 5.04% and a book value of Rs 289.14 per share. Its quarterly revenue moved from Rs 215.94 crore in June 2025 to Rs 273.04 crore in June 2026, a change of +26.4%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Shivalik_Rasayan_vs_Asahi_Songwon_Colors_vs_Aarti_Surfactants_Valuation_and_Profitability_Snapshot\"><\/span><strong>Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants: Valuation and Profitability Snapshot<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Metric<\/th>\n<th><a href=\"https:\/\/univest.in\/stocks\/shivalik\/shivalik-rasayan-ltd-share-price-today\">Shivalik Rasayan<\/a><\/th>\n<th><a href=\"https:\/\/univest.in\/stocks\/asahisong\/asahi-songwon-colors-ltd-share-price-today\">Asahi Songwon Colors<\/a><\/th>\n<th><a href=\"https:\/\/univest.in\/stocks\/aartisurf\/aarti-surfactants-ltd-share-price-today\">Aarti Surfactants<\/a><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Market Cap (approx.)<\/td>\n<td>Rs 562 crore<\/td>\n<td>Rs 428 crore<\/td>\n<td>Rs 412 crore<\/td>\n<\/tr>\n<tr>\n<td>PE Ratio (TTM)<\/td>\n<td>28.57<\/td>\n<td>12.50<\/td>\n<td>22.38<\/td>\n<\/tr>\n<tr>\n<td>PB Ratio<\/td>\n<td>0.93<\/td>\n<td>1.58<\/td>\n<td>1.68<\/td>\n<\/tr>\n<tr>\n<td>Return on Equity (ROE)<\/td>\n<td>2.03%<\/td>\n<td>6.92%<\/td>\n<td>5.04%<\/td>\n<\/tr>\n<tr>\n<td>EPS (TTM, Rs)<\/td>\n<td>12.26<\/td>\n<td>29.02<\/td>\n<td>21.72<\/td>\n<\/tr>\n<tr>\n<td>Dividend Yield<\/td>\n<td>0.14%<\/td>\n<td>0.41%<\/td>\n<td>0.21%<\/td>\n<\/tr>\n<tr>\n<td>Debt to Equity<\/td>\n<td>0.19<\/td>\n<td>0.53<\/td>\n<td>0.43<\/td>\n<\/tr>\n<tr>\n<td>Book Value per Share (Rs)<\/td>\n<td>378.08<\/td>\n<td>230.24<\/td>\n<td>289.14<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for Live Data<\/strong><\/a><\/p>\n<p>On valuation, Shivalik Rasayan trades at a PE of 28.57 and a PB of 0.93, Asahi Songwon Colors at a PE of 12.50 and a PB of 1.58, while Aarti Surfactants trades at a PE of 22.38 and a PB of 1.68. On return on equity, the three post 2.03%, 6.92% and 5.04% respectively, and on dividend yield they stand at 0.14%, 0.41% and 0.21%. Shivalik Rasayan has the highest market capitalisation of the three at Rs 562 crore, while Aarti Surfactants has the lowest at Rs 412 crore. Shivalik Rasayan has the highest PE ratio of the three at 28.57, while Asahi Songwon Colors has the lowest at 12.50. Asahi Songwon Colors has the highest return on equity of the three at 6.92%, while Shivalik Rasayan has the lowest at 2.03%. Asahi Songwon Colors has the highest debt to equity ratio of the three at 0.53, while Shivalik Rasayan has the lowest at 0.19. Debt to equity is 0.19, 0.53 and 0.43 for the three respectively.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Shivalik_Rasayan_vs_Asahi_Songwon_Colors_vs_Aarti_Surfactants_Latest_Quarterly_Results\"><\/span><strong>Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants: Latest Quarterly Results<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Company<\/th>\n<th>Latest Quarter Revenue<\/th>\n<th>Latest Quarter Net Profit<\/th>\n<th>YoY Change (Revenue)<\/th>\n<th>QoQ Change (Revenue)<\/th>\n<th>YoY Change (Net Profit)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Shivalik Rasayan<\/td>\n<td>Rs 97.31 crore<\/td>\n<td>Rs 4.50 crore<\/td>\n<td>+8.2%<\/td>\n<td>-7.1%<\/td>\n<td>+59.6%<\/td>\n<\/tr>\n<tr>\n<td>Asahi Songwon Colors<\/td>\n<td>Rs 189.70 crore<\/td>\n<td>Rs 19.03 crore<\/td>\n<td>+25.3%<\/td>\n<td>+28.6%<\/td>\n<td>+634.7%<\/td>\n<\/tr>\n<tr>\n<td>Aarti Surfactants<\/td>\n<td>Rs 273.04 crore<\/td>\n<td>Rs 9.00 crore<\/td>\n<td>+26.4%<\/td>\n<td>+6.5%<\/td>\n<td>+206.1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Quarterly figures above are the most recent reported quarter for each company (Q1 FY27, quarter ended June 2026), compared with the year-ago and preceding quarter. A percentage change in net profit is shown as NA where the comparison quarter was a loss or the latest quarter is a loss, since the percentage is not meaningful in that case.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Shivalik_Rasayan_vs_Asahi_Songwon_Colors_vs_Aarti_Surfactants_Five-Quarter_Revenue_and_Net_Profit_Trend\"><\/span><strong>Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants: Five-Quarter Revenue and Net Profit Trend<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The five-quarter view below shows how revenue and net profit moved from June 2025 to June 2026 for each company in Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants, which helps separate a one-quarter move from a steadier pattern.<\/p>\n<p><strong>Quarterly revenue (Rs crore)<\/strong><\/p>\n<table>\n<thead>\n<tr>\n<th>Quarter<\/th>\n<th>Shivalik Rasayan<\/th>\n<th>Asahi Songwon Colors<\/th>\n<th>Aarti Surfactants<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>June 2025<\/td>\n<td>Rs 89.91 crore<\/td>\n<td>Rs 151.34 crore<\/td>\n<td>Rs 215.94 crore<\/td>\n<\/tr>\n<tr>\n<td>September 2025<\/td>\n<td>Rs 94.23 crore<\/td>\n<td>Rs 122.55 crore<\/td>\n<td>Rs 179.23 crore<\/td>\n<\/tr>\n<tr>\n<td>December 2025<\/td>\n<td>Rs 83.22 crore<\/td>\n<td>Rs 120.75 crore<\/td>\n<td>Rs 207.83 crore<\/td>\n<\/tr>\n<tr>\n<td>March 2026<\/td>\n<td>Rs 104.74 crore<\/td>\n<td>Rs 147.54 crore<\/td>\n<td>Rs 256.47 crore<\/td>\n<\/tr>\n<tr>\n<td>June 2026<\/td>\n<td>Rs 97.31 crore<\/td>\n<td>Rs 189.70 crore<\/td>\n<td>Rs 273.04 crore<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Quarterly net profit (Rs crore)<\/strong><\/p>\n<table>\n<thead>\n<tr>\n<th>Quarter<\/th>\n<th>Shivalik Rasayan<\/th>\n<th>Asahi Songwon Colors<\/th>\n<th>Aarti Surfactants<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>June 2025<\/td>\n<td>Rs 2.82 crore<\/td>\n<td>Rs 2.59 crore<\/td>\n<td>Rs 2.94 crore<\/td>\n<\/tr>\n<tr>\n<td>September 2025<\/td>\n<td>Rs 4.30 crore<\/td>\n<td>Rs 2.10 crore<\/td>\n<td>Rs 1.56 crore<\/td>\n<\/tr>\n<tr>\n<td>December 2025<\/td>\n<td>Rs 3.67 crore<\/td>\n<td>Rs 2.26 crore<\/td>\n<td>Rs 3.66 crore<\/td>\n<\/tr>\n<tr>\n<td>March 2026<\/td>\n<td>Rs 7.17 crore<\/td>\n<td>Rs 10.82 crore<\/td>\n<td>Rs 4.19 crore<\/td>\n<\/tr>\n<tr>\n<td>June 2026<\/td>\n<td>Rs 4.50 crore<\/td>\n<td>Rs 19.03 crore<\/td>\n<td>Rs 9.00 crore<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Shivalik Rasayan reported revenue of Rs 89.91 crore in June 2025 and Rs 97.31 crore in June 2026, a change of +8.2% across the period. Its highest quarterly revenue in this window was Rs 104.74 crore in March 2026. Net profit stood at Rs 4.50 crore in June 2026, which is a net profit margin of 4.62%.<\/p>\n<p>Asahi Songwon Colors reported revenue of Rs 151.34 crore in June 2025 and Rs 189.70 crore in June 2026, a change of +25.3% across the period. Its highest quarterly revenue in this window was Rs 189.70 crore in June 2026. Net profit stood at Rs 19.03 crore in June 2026, which is a net profit margin of 10.03%.<\/p>\n<p>Aarti Surfactants reported revenue of Rs 215.94 crore in June 2025 and Rs 273.04 crore in June 2026, a change of +26.4% across the period. Its highest quarterly revenue in this window was Rs 273.04 crore in June 2026. Net profit stood at Rs 9.00 crore in June 2026, which is a net profit margin of 3.30%.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"https:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants live prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Should_Investors_Look_at_Beyond_These_Numbers\"><\/span><strong>What Should Investors Look at Beyond These Numbers?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Beyond the metrics above, investors comparing these three specialty chemicals names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and factors specific to the segment such as raw material costs, customer concentration, export demand and capacity utilisation. A single-quarter snapshot can shift quickly, and smaller companies in particular can show wide swings from one quarter to the next.<\/p>\n<p>It also helps to read the latest quarterly filings and investor presentations of Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants directly, since the figures here come from standardised data and do not capture company-specific context such as one-time items, order timing or promoter actions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants highlights how differently three companies in the same specialty chemicals segment can look across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information as of October 2026 and may not reflect real-time prices. Please verify all data independently before making any investment decision. This comparison does not recommend or endorse any single stock over another; investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Shivalik_Rasayan_vs_Asahi_Songwon_Colors_vs_Aarti_Surfactants\"><\/span><strong>FAQs on Shivalik Rasayan vs Asahi Songwon Colors vs Aarti Surfactants<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_market_cap_difference_between_Shivalik_Rasayan_Asahi_Songwon_Colors_and_Aarti_Surfactants\"><\/span><strong>What is the market cap difference between Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of October 2026, Shivalik Rasayan has a market cap of approximately Rs 562 crore, Asahi Songwon Colors is at approximately Rs 428 crore, and Aarti Surfactants is at approximately Rs 412 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_PE_and_PB_ratios_of_Shivalik_Rasayan_Asahi_Songwon_Colors_and_Aarti_Surfactants\"><\/span><strong>What are the PE and PB ratios of Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of October 2026, the PE ratios stand at 28.57, 12.50 and 22.38 respectively, and the price to book ratios stand at 0.93, 1.58 and 1.68 respectively.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_the_three_has_the_highest_ROE\"><\/span><strong>Which of the three has the highest ROE?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants post ROE of 2.03%, 6.92% and 5.04% respectively as of October 2026. Asahi Songwon Colors has the highest return on equity of the three at 6.92%, while Shivalik Rasayan has the lowest at 2.03%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_three_stocks_pays_the_highest_dividend_yield\"><\/span><strong>Which of these three stocks pays the highest dividend yield?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants carry dividend yields of 0.14%, 0.41% and 0.21% respectively.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_debt_to_equity_ratio_for_Shivalik_Rasayan_Asahi_Songwon_Colors_and_Aarti_Surfactants\"><\/span><strong>What is the debt to equity ratio for Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Shivalik Rasayan carries a debt to equity of 0.19, Asahi Songwon Colors of 0.53, and Aarti Surfactants of 0.43.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_were_the_latest_quarterly_revenue_and_net_profit_of_Shivalik_Rasayan_Asahi_Songwon_Colors_and_Aarti_Surfactants\"><\/span><strong>What were the latest quarterly revenue and net profit of Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> For Q1 FY27 (quarter ended June 2026), Shivalik Rasayan reported revenue of Rs 97.31 crore and net profit of Rs 4.50 crore, Asahi Songwon Colors reported revenue of Rs 189.70 crore and net profit of Rs 19.03 crore, and Aarti Surfactants reported revenue of Rs 273.04 crore and net profit of Rs 9.00 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Does_this_comparison_recommend_one_of_Shivalik_Rasayan_Asahi_Songwon_Colors_and_Aarti_Surfactants\"><\/span><strong>Does this comparison recommend one of Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This comparison does not declare one stock ahead of another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor&#8217;s own criteria and research.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the market cap difference between Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"As of October 2026, Shivalik Rasayan has a market cap of approximately Rs 562 crore, Asahi Songwon Colors is at approximately Rs 428 crore, and Aarti Surfactants is at approximately Rs 412 crore.\"}},{\"@type\":\"Question\",\"name\":\"What are the PE and PB ratios of Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"As of October 2026, the PE ratios stand at 28.57, 12.50 and 22.38 respectively, and the price to book ratios stand at 0.93, 1.58 and 1.68 respectively.\"}},{\"@type\":\"Question\",\"name\":\"Which of the three has the highest ROE?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Shivalik Rasayan, Asahi Songwon Colors and Aarti Surfactants post ROE of 2.03%, 6.92% and 5.04% respectively as of October 2026. 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