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. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Cellulose- and starch-based specialty excipients. Small-cap, capacity-constrained specialty chemicals manufacturer expanding via a greenfield plant funded by a recent IPO
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 137 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 6.63 |
| ROE % · ROCE % | — · 16.5 |
| Debt / equity (x) | — |
| Cash from operations | 11 |
| Capex | (19) |
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 61 | 76 |
| Profit before tax | 8 | 9 |
| Net profit | — | — |
| EPS (₹) | 3.03 | 3.39 |
| 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 |
| 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 3 Sept 2026 · Newspaper publication for e-voting notice submitted to BSE | compliance | minimal | — | — |
| 1 Sept 2026 · Patel Chem Specialities FY26 Annual Report: Revenue Up 31%, PAT at 12.55 Cr | results | high | — | — |
| 1 Sept 2026 · 18th AGM on 25 Sept 2026 - RPT approval up to Rs 65 Crore sought | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Board meeting outcome: director re-appointment, AGM scheduled for 25 Sept | management changes | medium | — | — |
| 26 Aug 2026 · Board meeting on Sept 1 to approve FY26 results and AGM items | management changes | low | — | — |
| 14 Aug 2026 · Clarification on minor deviation in IPO proceeds utilization | capital market events | medium | — | — |
| 14 Aug 2026 · Monitoring Agency reports Rs 34.78 cr unutilized IPO funds, minor deviation flagged | compliance | low | — | — |
| 7 Jul 2026 · RTA Compliance Certificate Under SEBI Reg 74(5) for Q1 FY27 | compliance | minimal | — | — |
| 28 May 2026 · Statement of Deviation and Variation for the Half Year Ended 31st March, 2026. | fund raising | low | — | — |
| 22 May 2026 · Appointment of the Secretarial Auditor for the Financial Year 2026-27. | management changes | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 33.6 |
| 3.00 |
| 18.8 |
| 7.0 |
| 4.4 |
| 13.0 |
| 16.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 16.6 | 23.4 | 30 of 103 | 72% |
| ROCE | 15.6 | 10.3 | 33 of 108 | 70% |
| Market cap | 265 | 732 | 67 of 107 | 38% |
| 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.
