Devson Catalyst Ltd
Devson Catalyst Limited is a manufacturer of catalysts, adsorbents and ceramic balls used
as key materials in various industrial processes.[1]
- Market Cap ₹ 460 Cr.
- Current Price ₹ 338
- High / Low ₹ 423 / 186
- Stock P/E 35.0
- Book Value ₹ 56.0
- Dividend Yield 0.00 %
- ROCE 57.0 %
- ROE 45.0 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 43.2%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 87.9 to 110 days.
- Working capital days have increased from 79.6 days to 128 days
* 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 SME IPO
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 33 | 43 | 53 | 56 | |
| Sales growth | +34% | +22% | +5% | |
| 29 | 37 | 42 | 39 | |
| Operating Profit | 4 | 7 | 11 | 17 |
| OPM % | 11% | 15% | 21% | 30% |
| 0 | 0 | 0 | 1 | |
| Interest | 0 | 1 | 0 | 0 |
| Depreciation | 0 | 0 | 1 | 1 |
| Profit before tax | 3 | 6 | 10 | 17 |
| Tax % | 26% | 28% | 26% | 26% |
| 2 | 4 | 8 | 13 | |
| EPS in Rs | 2.27 | 3.96 | 7.45 | 12.21 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 20% |
| TTM: | 5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 74% |
| TTM: | 58% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 43% |
| Last Year: | 45% |
Balance Sheet
Figures in Rs. Crores
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.25 | 0.25 | 0.25 | 10 | 14 |
| Reserves | 9 | 13 | 21 | 23 | 62 |
| 1 | 4 | 3 | 2 | 1 | |
| 5 | 4 | 4 | 6 | 4 | |
| Total Liabilities | 16 | 21 | 27 | 42 | 81 |
| 5 | 7 | 7 | 12 | 12 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 2 | 0 | 0 |
| 11 | 14 | 18 | 30 | 69 | |
| Total Assets | 16 | 21 | 27 | 42 | 81 |
Cash Flows
Figures in Rs. Crores
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 2 | 0 | 4 | 5 | |
| -1 | -3 | -2 | -3 | |
| -0 | 3 | -2 | -1 | |
| Net Cash Flow | 1 | 0 | 0 | 1 |
| Free Cash Flow | 1 | -2 | 4 | -1 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 65% | 19% | 74% | 47% |
Ratios
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 57 | 67 | 87 | 110 |
| Inventory Days | 61 | 27 | 31 | 104 |
| Days Payable | 66 | 21 | 24 | 44 |
| Cash Conversion Cycle | 52 | 73 | 94 | 170 |
| Working Capital Days | 36 | 41 | 70 | 128 |
| ROCE % | 47% | 52% | 57% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Transcript of "H1 FY27 Earnings Conference Call"
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of H1 FY27 earnings call published on company website.
-
Announcement under Regulation 30 (LODR)-Investor Presentation
- We submit herewith investor presentation on H1 FY27 performance
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Devson Catalyst reports H1 FY27 PAT up 13.12%; order book exceeds ₹28 crore, new catalyst commercialized.
- Unaudited Financial Results Of The Company For The Half Year Ended September 30, 2026
Concalls
-
Nov 2026Transcript PPT REC
-
Jul 2026PPT
Business Profile[1]
Devson Catalyst Ltd is an ISO certified manufacturer of catalysts, adsorbents
and ceramic balls used in oil & gas, petrochemical, steel, fertilizer and
other industrial process industries.
It has transitioned from manufacturing
electrical insulators to specialty catalyst
products and has established itself as an indigenous manufacturer with exports to
over 15 countries.