Paushak Ltd
Paushak is India’s largest phosgene based specialty chemicals manufacturer serving pharmaceutical, agrochemical and performance industries. Paushak is part of the Alembic group of companies situated in Gujarat, India.. Alembic Ltd is the oldest pharmaceutical company in India founded in 1907. [1][2]
- Market Cap ₹ 1,158 Cr.
- Current Price ₹ 469
- High / Low ₹ 991 / 465
- Stock P/E 31.8
- Book Value ₹ 195
- Dividend Yield 0.53 %
- ROCE 11.2 %
- ROE 9.76 %
- Face Value ₹ 5.00
Pros
Cons
- The company has delivered a poor sales growth of 8.87% over past five years.
- Company has a low return on equity of 12.3% over last 3 years.
- Dividend payout has been low at 11.3% of profits over last 3 years
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Commodities Chemicals Chemicals & Petrochemicals Specialty Chemicals
Part of BSE Allcap BSE Commodities
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 54 | 69 | 78 | 72 | 105 | 140 | 138 | 141 | 150 | 212 | 206 | 211 | 216 | |
| 43 | 52 | 61 | 60 | 75 | 99 | 95 | 91 | 96 | 137 | 142 | 151 | 156 | |
| Operating Profit | 11 | 17 | 17 | 12 | 29 | 40 | 43 | 50 | 54 | 75 | 65 | 60 | 60 |
| OPM % | 20% | 25% | 22% | 17% | 28% | 29% | 31% | 36% | 36% | 35% | 31% | 28% | 28% |
| 4 | 3 | 3 | 5 | 3 | 13 | 7 | 6 | 5 | 11 | 20 | 14 | 4 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 2 | 2 | 3 | 3 | 3 | 4 | 4 | 5 | 9 | 13 | 14 | 15 | 17 |
| Profit before tax | 13 | 18 | 17 | 14 | 29 | 49 | 45 | 52 | 50 | 72 | 71 | 59 | 47 |
| Tax % | 30% | 28% | 25% | 22% | 26% | 20% | 23% | 28% | 25% | 25% | 23% | 16% | |
| 9 | 13 | 12 | 11 | 21 | 39 | 35 | 37 | 38 | 54 | 54 | 49 | 36 | |
| EPS in Rs | 3.45 | 5.07 | 4.85 | 4.27 | 8.39 | 15.84 | 14.19 | 15.16 | 15.29 | 21.96 | 22.09 | 20.07 | 14.79 |
| Dividend Payout % | 11% | 7% | 8% | 9% | 4% | 4% | 5% | 5% | 10% | 10% | 11% | 12% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 9% |
| 3 Years: | 12% |
| TTM: | 2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 6% |
| 3 Years: | 5% |
| TTM: | -37% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | -1% |
| 3 Years: | -21% |
| 1 Year: | -23% |
| Return on Equity | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 13% |
| 3 Years: | 12% |
| Last Year: | 10% |
Balance Sheet
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 42 | 54 | 65 | 80 | 110 | 174 | 224 | 269 | 302 | 351 | 405 | 462 | 477 |
| 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 25 | 60 | |
| 8 | 11 | 13 | 11 | 31 | 36 | 43 | 57 | 61 | 61 | 73 | 81 | 80 | |
| Total Liabilities | 54 | 69 | 82 | 94 | 144 | 214 | 270 | 329 | 367 | 415 | 481 | 572 | 620 |
| 9 | 18 | 20 | 35 | 37 | 38 | 41 | 51 | 147 | 149 | 152 | 141 | 183 | |
| CWIP | 4 | 1 | 12 | 0 | 1 | 6 | 16 | 68 | 8 | 7 | 29 | 190 | 205 |
| Investments | 18 | 19 | 18 | 33 | 53 | 116 | 163 | 154 | 151 | 182 | 223 | 139 | 131 |
| 23 | 30 | 31 | 26 | 54 | 54 | 50 | 56 | 61 | 78 | 77 | 102 | 100 | |
| Total Assets | 54 | 69 | 82 | 94 | 144 | 214 | 270 | 329 | 367 | 415 | 481 | 572 | 620 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 | 9 | 14 | 12 | 10 | 24 | 41 | 30 | 44 | 43 | 56 | 38 | |
| -7 | -8 | -13 | -11 | -10 | -0 | -39 | -29 | -42 | -38 | -50 | -57 | |
| -2 | -1 | -1 | -2 | -1 | -23 | -2 | -2 | -2 | -4 | -5 | 19 | |
| Net Cash Flow | 0 | 0 | 0 | -0 | 0 | 0 | 0 | -1 | -0 | 0 | 0 | -1 |
Ratios
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 96 | 114 | 97 | 83 | 135 | 85 | 69 | 85 | 97 | 90 | 90 | 94 |
| Inventory Days | 117 | 96 | 117 | 125 | 118 | 122 | 131 | 148 | 233 | 180 | 177 | 179 |
| Days Payable | 71 | 94 | 104 | 70 | 170 | 73 | 110 | 118 | 227 | 122 | 130 | 167 |
| Cash Conversion Cycle | 142 | 116 | 110 | 138 | 83 | 133 | 89 | 115 | 103 | 149 | 137 | 107 |
| Working Capital Days | 108 | 108 | 92 | 92 | 107 | 100 | 75 | 60 | 81 | 93 | 84 | 80 |
| ROCE % | 30% | 32% | 25% | 12% | 29% | 27% | 21% | 20% | 17% | 21% | 17% | 11% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
28 Jan - In accordance with Regulation 30 and Regulation 47 of SEBI Listing Regulations, newspaper advertisement related to Unaudited Financial Results of the Company for the quarter …
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Unaudited Financial Results For The Quarter And Nine Months
Period Ended On 31St December, 2025
27 Jan - Unaudited Q3/9M FY26 results: Q3 revenue Rs4,880 lacs; PAT Rs617 lacs; Board approved; LR dated 27 Jan 2026.
-
Board Meeting Outcome for Outcome Of Board Meeting
27 Jan - Approved unaudited results for quarter/nine months ended 31 Dec 2025: Q3 revenue Rs4,880 lacs, PAT Rs617 lacs.
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Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Commencement Of Commercial Production.
21 Jan - Commercial production started; Rs.175 Cr multipurpose plant commissioning; capacity added over next 12 months.
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Board Meeting Intimation for Board Meeting To Consider Unaudited Financial Results For The Quarter And Nine Months Period Ended On 31St December, 2025.
19 Jan - Board meeting on 27 Jan 2026 to approve unaudited Q3 and nine-month results; trading window reopens 48 hours post-declaration.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Products Offered
Paushak is part of the Alembic group of companies situated in Gujarat, India and is the largest specialty chemical company in India based on Phosgene Chemistry. Its products include Chloroformates, Isocyanates, Chlorides, Carbonates/Carbamate and Other Chemicals. These chemicals are used in diverse fields such as pesticides, pharmaceuticals dyes plastics and perfumeries. [1] [2]