Manufactures specialty chemicals, including Hindered Amine Light Stabilizers (HALS), and operates a portfolio of legacy specialty chemicals such as 4-MAP. HALS volumes crossed 1,000 tonnes in Q4 FY26 versus roughly 350-360 tonnes eight quarters earlier, with export mix at 50% (versus 20% historically) and a March blended realisation of INR460/kg. A new HQ/Catechol plant is under stabilisation at 10-15% utilisation, expected to reach optimal operations in 1-2 quarters and to fully replace imports for TBHQ and Veratrole. Performance Chemical 2 is on track for September 2026 commercialisation, with revenue ramp expected in FY28. The company has a 5-year long-term supply arrangement with Kemin Industries for key ingredients used in Kemin's food and feed business, and a manufacturing collaboration with Swiss start-up Geneus Chem AG on advanced HALS products. FY26 revenue was INR956.547 crore with an EBITDA margin of 40.5211%; standalone FY26 revenue declined 12% to INR796 crore due to the loss of a 4-MAP FMCG customer and pricing pressure. Raw materials account for 37.6% of revenue, and the company carries no debt. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. HALS (Hindered Amine Light Stabilizers), Legacy specialty chemicals, HQ and Catechol, Performance Chemical 2, Clean Fino-Chem subsidiary. Specialty chemicals manufacturer with growing HALS franchise and newly stabilising HQ/Catechol plant; debt-free
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 685 | 936 | 791 | 967 | 957 |
| EBITDA (ex other income) | 300 | 402 | 332 | 388 | 355 |
| margin % | 43.8 | 43.0 | 42.0 | 40.1 | 37.1 |
| Owners' profit | 0 | 295 | 244 | 264 | 230 |
| EPS, as reported (₹) | 21.51 | 27.79 | 22.97 | 24.88 | 21.61 |
| ROE % · ROCE % | 29.7 · 38.6 | 29.2 · 38.2 | 20.3 · 26.5 | 18.7 · 24.6 | 14.5 · 19.2 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 127 | 279 | 237 | 214 | 275 |
| Capex | (140) | (183) | (232) | (142) | (201) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 238 | 241 | 264 | 243 | 245 | 220 | 249 | 268 |
| Profit before tax | 83 | 85 | 100 | 95 | 75 | 63 | 78 | 98 |
| Net profit | 59 | 66 | 74 | 70 | 55 | 46 | 58 | 73 |
| EPS (₹) | 5.53 | 6.18 | 6.97 | 6.59 | 5.22 | 4.32 | 5.48 | 6.90 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PIDILITE INDUSTRIES LTD | 1,59,479 | 60.2 | 14.43 | 42.3 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 73,583 | 34.0 | 5.24 | 22.7 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 52,514 | 85.7 | 6.64 | 41.5 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 43,836 | 55.4 | 11.03 | 39.5 | 16.7 | 16.4 | 23.0 | 37.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 31 Aug 2026 · CLEAN SCIENCE: Allots 1,601 equity shares under ESOP scheme | capital market events | low | — | — |
| 20 Aug 2026 · Clean Science sets up wholly owned Netherlands subsidiary | strategic transactions | medium | — | — |
| 19 Aug 2026 · 23rd AGM scheduled 12 September 2026 via video conferencing | compliance | minimal | — | — |
| 17 Aug 2026 · 23rd AGM notice on 12 Sep 2026; final dividend Rs 4 per share proposed | board shareholder meetings | medium | — | — |
| 17 Aug 2026 · Clean Science files BRSR for FY26 with ESG targets and progress | compliance | low | — | — |
| 17 Aug 2026 · Clean Science & Tech: 23rd AGM on 12 Sep 2026 with FY26 Annual Report | board shareholder meetings | medium | — | — |
| 12 Aug 2026 · Clean Science 23rd AGM scheduled for 12 September 2026 via video call | compliance | minimal | — | — |
| 6 Aug 2026 · Clean Science Q1 FY27 call: record sales, HALS ramps up, new deals | investor communications | medium | — | — |
| 3 Aug 2026 · Newspaper publication of Q1 FY27 unaudited results filed with exchanges | compliance | minimal | — | — |
| 1 Aug 2026 · Clean Science submits Q1 FY27 earnings call recording to exchanges | investor communications | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| AETHER INDUSTRIES LIMITED | 22,229 | 94.3 | 9.05 | 60.4 | 8.9 | 11.4 | — | 33.8 |
| DEEPAK NITRITE LTD | 21,769 | 27.8 | 3.71 | 22.4 | 9.4 | 10.2 | 12.6 | 21.5 |
| ATUL LTD | 18,401 | 23.1 | 2.92 | 14.9 | 10.9 | 13.3 | 10.9 | 23.1 |
| AARTI INDUSTRIES LTD | 17,846 | 33.6 | 3.00 | 18.8 | 7.0 | 4.4 | 13.0 | 16.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 38.6 | 23.4 | 75 of 103 | 28% |
| P/B | 5.7 | 2.9 | 78 of 99 | 21% |
| ROCE | 19.1 | 10.3 | 20 of 108 | 82% |
| ROE | 14.5 | 8.1 | 23 of 101 | 78% |
| Debt / Equity | 0.0 | 0.2 | 3 of 101 | 84% |
| EBITDA margin | 44.2 | 15.5 | 2 of 99 | 99% |
| Revenue growth | 10.5 | 24.4 | 75 of 94 | 20% |
| Profit growth | 4.7 | 55.1 | 68 of 92 | 26% |
| Market cap | 8991 | 732 | 18 of 107 | 84% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
