PATEL CHEM SPECIALITIES LIMITE

Manufactures specialty cellulose- and starch-based excipients including CCS, SSG and Calcium CMC, which it sells to repeat customers and exports to more than 15 countries. In FY26, revenue from operations grew 30.6% to ₹137.26 crore, with profit after tax of ₹1,255.22 lakhs, up 18.8% from the prior year. The company operates an existing manufacturing unit at Vatva and is building a new 6,012 MTPA greenfield plant at Indrad, Mahesana under a ₹45 crore turnkey contract with J&H Pharma Consultants, with commercial production originally targeted for March 2026. Raw materials account for 74.1% of revenue, with employees at 4.8% and other operating expenses at 7.9%, leaving ROCE of 16.48% on total assets of ₹142.28 crore. The company listed on BSE in July 2025, raising ₹58.80 crore to part-fund the new plant, of which ₹22.55 crore had been deployed by March 2026 and ₹36.24 crore remained parked in Axis Bank fixed deposits. Related party dealings include purchases from Av Celllose Products and Patel Industries, and sales to Patelchem North America Inc.