NSE: PAUSHAKLTD · BSE: 532742
PAUSHAK LIMITED
Operates as a single-segment specialty chemicals business, with FY26 revenue from operations of Rs 218.60 cr and total assets of Rs 659.94 cr. In Q1 FY27, revenue from operations reached Rs 83.55 cr, up 49.5% from Rs 55.88 cr in the same quarter a year earlier, while profit after tax rose to Rs 15.10 cr from Rs 12.03 cr. The cost structure is dominated by other operating expenses at 33.1% of revenue and materials at 26.2%, with employee costs at 18.2% and depreciation at 9.8%. Capital expenditure absorbs a notably high 40.3% of revenue, signalling an asset-heavy expansion mode relative to current turnover. The company sits within the Alembic group, with promoter/promoter-group entities including Alembic Pharmaceuticals Ltd and Shreno entities. An earlier share sub-division and 3-for-1 bonus issue were completed in October 2025, and a final dividend for FY26 was declared at the 53rd AGM, payable on or from 3 August 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Specialty chemicals (100%). Single-segment, asset-heavy specialty chemicals (FY26 capex 40.3% of revenue)
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 150 | 212 | 206 | 211 | 219 |
| EBITDA (ex other income) | 54 | 77 | 64 | 60 | 61 |
| margin % | 36.1 | 36.2 | 31.3 | 28.3 | 27.8 |
| Owners' profit | 38 | 54 | 54 | 49 | 39 |
| EPS, as reported (₹) | 122.03 | 175.22 | 176.35 | 160.21 | 15.95 |
| ROE % · ROCE % | 12.3 · 14.8 | 15.3 · 18.5 | 13.3 · 15.6 | 10.6 · 11.2 | 8.0 · 8.7 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.05 | 0.16 |
| Cash from operations | 44 | 43 | 56 | 38 | 54 |
| Capex | (48) | (17) | (39) | (160) | (88) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 57 | 49 | 52 | 56 | 59 | 49 | 55 | 84 |
| Profit before tax | 17 | 17 | 12 | 16 | 11 | 7 | 16 | 19 |
| Net profit | 14 | 15 | 10 | 12 | 9 | 6 | 13 | 15 |
| EPS (₹) | 46.09 | 49.51 | 31.16 | 39.04 | 27.94 | 2.50 | 5.07 | 6.13 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PIDILITE INDUSTRIES LTD | 1,42,095 | 53.6 | 12.86 | 37.6 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 69,659 | 32.2 | 4.96 | 21.6 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 47,075 | 76.8 | 5.95 | 37.4 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 43,610 | 55.1 | 10.97 | 39.3 | 16.7 | 16.4 | 23.0 | 37.5 |
| AETHER INDUSTRIES LIMITED | 20,905 | 88.6 | 8.51 | 56.8 | 8.9 | 11.4 | — | 33.8 |
| DEEPAK NITRITE LTD | 20,257 | 25.9 | 3.45 | 21.0 | 9.4 | 10.2 | 12.6 | 21.5 |
| AARTI INDUSTRIES LTD | 15,871 | 29.9 | 2.67 | 17.1 | 7.0 | 4.4 | 13.0 | 16.2 |
| FINE ORGANIC IND. LTD. | 15,604 | 35.6 | 5.86 | 25.5 | 15.7 | 20.0 | 15.9 | 28.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 14.6 | 23.1 | 25 of 99 | 76% |
| P/B | 3.1 | 2.8 | 60 of 99 | 40% |
| ROCE | 8.5 | 10.1 | 58 of 106 | 46% |
| ROE | 8.0 | 8.1 | 51 of 99 | 49% |
| Debt / Equity | 0.2 | 0.2 | 47 of 99 | 53% |
| EBITDA margin | 34.5 | 15.5 | 6 of 99 | 95% |
| Revenue growth | 49.5 | 24.4 | 17 of 94 | 83% |
| Profit growth | 25.5 | 55.1 | 57 of 92 | 39% |
| Market cap | 1502 | 699 | 41 of 108 | 63% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Newspaper notice invites claims for shares transferred to IEPF | compliance | minimal | — | — |
| 28 Oct 2026 · Newspaper notice on duplicate share certificates for 3,400 shares | compliance | minimal | — | — |
| 17 Oct 2026 · Newspaper advertisement of Q2 FY26 unaudited financial results | compliance | minimal | — | — |
| 16 Oct 2026 · Paushak Q2 revenue up 52% YoY, PAT jumps 57% | results | high | — | — |
| 16 Oct 2026 · Paushak Q2 revenue up 52 percent YoY, H1 PAT rises 39 percent | results | high | — | — |
| 8 Oct 2026 · Special window for physical share dematerialization - newspaper publication | compliance | minimal | — | — |
| 8 Oct 2026 · Board Meeting on 16 Oct 2026 to consider Q2 and H1 FY27 results | results | low | — | — |
| 7 Oct 2026 · Routine demat confirmation certificate submitted to exchanges | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closure from Oct 1 till Q2 FY26 results announcement | compliance | minimal | — | — |
| 12 Aug 2026 · Newspaper ad on special window for physical shares dematerialisation | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | 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 |
Sources, method and disclosures
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.