Past 10 year's financial track record analysis by Moneyworks4me indicates that Paragon Fine And Speciality Chemical Ltd is a average quality company.
The key valuation ratios of Paragon Fine And Speciality Chemical Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Paragon Fine And Speciality Chemical Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 22.9% | 22.2% | 36.6% | 29% | - |
| Value Creation Index ⓘ | 0.6 | 0.6 | 1.6 | 1.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 83.3 | 82.8 | 104 | 121 | 121 |
| Sales YoY Gr. | - | -0.5% | 25.6% | 16.6% | - |
| Adj EPS ⓘ | 2.9 | 2.6 | 6.8 | 7.1 | 7.3 |
| YoY Gr. | - | -12% | 166% | 3.8% | - |
| BVPS (₹) ⓘ | 5.5 | 8.6 | 15.5 | 42.7 | 42.7 |
| Adj Net Profit ⓘ | 4.2 | 3.7 | 9.8 | 13.8 | 14 |
| Cash Flow from Ops. ⓘ | -9.2 | 5.2 | -2.1 | 0.2 | - |
| Debt/CF from Ops. ⓘ | -2.4 | 4 | -12.3 | 44.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 13.4% | 16.6% | ||||
| Adj EPS ⓘ | NA | NA | 34.4% | 3.8% | ||||
| BVPSⓘ | NA | NA | 97.7% | 175.8% | ||||
| Share Price | - | - | - | -42.3% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 52.6 | 36.2 | 56.5 | 26.2 | 17.1 |
| Op. Profit Mgn % ⓘ | 7.7 | 7.2 | 14.1 | 16.3 | NAN |
| Net Profit Mgn % ⓘ | 5 | 4.5 | 9.4 | 11.4 | 11.8 |
| Debt to Equity ⓘ | 2.8 | 1.7 | 1.1 | 0.1 | - |
| Working Cap Days ⓘ | 0 | 197 | 189 | 204 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 64 | 66 | 99 | 0 |
Sales growth is growing at healthy rate in last 3 years 13.37%
Net Profit is growing at healthy rate in last 3 years 34.43%
Return on Equity has declined versus last 3 years average to 17.10%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 7.3 | - |
| TTM Sales (₹ Cr.) | 121 | - |
| BVPS (₹.) ⓘ | 42.7 | - |
| Reserves (₹ Cr.) ⓘ | 64 | - |
| P/BV ⓘ | 2.70 | - |
| PE ⓘ | 15.77 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 226 |
| Equity (₹ Cr.) | 19.6 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 55.9 |
| Pledged * | 0.00 | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 83 | 83 | 104 | 121 |
| Operating Expenses ⓘ | 77 | 77 | 89 | 102 |
| Manufacturing Costs | 7 | 11 | 9 | 7 |
| Material Costs | 58 | 56 | 72 | 84 |
| Employee Cost | 3 | 3 | 3 | 3 |
| Other Costs ⓘ | 9 | 7 | 5 | 7 |
| Operating Profit ⓘ | 6 | 6 | 15 | 20 |
| Operating Profit Margin (%) | 7.6% | 7.2% | 14.1% | 16.3% |
| Other Income ⓘ | 1 | 2 | 1 | 1 |
| Interest ⓘ | 1 | 1 | 1 | 1 |
| Depreciation ⓘ | 1 | 1 | 1 | 1 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 6 | 6 | 14 | 19 |
| Tax ⓘ | 2 | 2 | 4 | 5 |
| Profit After Tax | 4 | 4 | 10 | 14 |
| PAT Margin (%) | 5.3% | 5.4% | 9.5% | 11.8% |
| Adjusted EPS (₹) | 3.1 | 3.1 | 6.9 | 7.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 8 | 12 | 22 | 83 | ||||||
| Share Capital ⓘ | 0 | 0 | 4 | 20 | ||||||
| Reserves ⓘ | 8 | 12 | 19 | 64 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 22 | 20 | 25 | 8 | ||||||
| Long Term Debt | 12 | 14 | 14 | 8 | ||||||
| Short Term Debt | 10 | 7 | 10 | 0 | ||||||
| Trade Payables | 15 | 21 | 20 | 13 | ||||||
| Others Liabilities ⓘ | 5 | 4 | 4 | 6 | ||||||
| Total Liabilities ⓘ | 50 | 58 | 71 | 111 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 11 | 14 | 14 | 17 | ||||||
| Accumulated Depreciation | 4 | 4 | 5 | 6 | ||||||
| Net Fixed Assetsⓘ | 7 | 10 | 9 | 11 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 1 | ||||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | ||||||
| Inventories | 1 | 13 | 22 | 32 | ||||||
| Trade Receivables | 30 | 22 | 27 | 26 | ||||||
| Cash Equivalents | 1 | 1 | 1 | 24 | ||||||
| Others Assetsⓘ | 11 | 13 | 11 | 18 | ||||||
| Total Assets ⓘ | 50 | 58 | 71 | 111 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -9 | 5 | -2 | 0 |
| PBT ⓘ | 6 | 6 | 14 | 19 |
| Adjustment ⓘ | 1 | 1 | 2 | 1 |
| Changes in Working Capital ⓘ | -15 | -0 | -17 | -13 |
| Tax Paid ⓘ | -1 | -2 | -1 | -8 |
| Cash Flow From Investing Activity ⓘ | -1 | -4 | -1 | -18 |
| Capex | -1 | -4 | -1 | -3 |
| Net Investments | 0 | 0 | 0 | -15 |
| Others ⓘ | 0 | 0 | 0 | 1 |
| Cash Flow From Financing Activityⓘ | 9 | -2 | 3 | 29 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 47 |
| Net Proceeds from Borrowing ⓘ | 4 | 2 | 1 | -6 |
| Interest Paid ⓘ | -1 | -1 | -1 | -1 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | 5 | -3 | 4 | -11 |
| Net Cash Flow ⓘ | -1 | -1 | 1 | 12 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 55.3 | 44.03 | 56.78 | 27.06 | ||||||
| ROCE (%) | 22.94 | 22.17 | 36.6 | 28.98 | ||||||
| Asset Turnover Ratio | 1.67 | 1.54 | 1.62 | 1.34 | ||||||
| PAT to CFO Conversion(x) | -2.25 | 1.25 | -0.2 | 0 | Working Capital Days | |||||
| Receivable Days | 130 | 113 | 85 | 79 | ||||||
| Inventory Days | 6 | 31 | 61 | 81 | ||||||
| Payable Days | 93 | 116 | 103 | 71 | ||||||
Paragon Fine and Speciality Chemical was originally formed as partnership firm under the Indian Partnership Act, 1932 in the name and style of ‘M/s Devarshi Dyechem’, pursuant to a deed of partnership dated February 02, 2003, entered between Manubhai Mongabhai Prajapati, Sureshbhai Natvarlal Patel and Kusumben Prahladbhai Patel. Thereafter, the said partnership firm was purchased by two of its existing promoters, Vallabh Ratanji Savaliya and Pravinbhai Panchabhai Patolia along with Pravinchandra Jasmat Vasolia, Manubhai Mongabhai Prajapati and Mukeshbhai Rudabhai Buha pursuant to a deed of partnership dated February 26, 2004. The name of the partnership firm was then changed to M/s. Paragon Industries. Thereafter a deed of partnership dated April 04, 2009 was entered to admit Kishor Panchabhai Patolia and to retire Pravinbhai Panchabhai Patolia, Manubhai Mongabhai Prajapati and Mukeshbhai Rudabhai Buha as partners. Later a deed of partnership dated November 20, 2017 was executed to admit Bansari Kishor Patolia, Priydarshna Kishorkumar Patolia, Nitaben Pravinchandra Vasolia and Heamanshi Pravinbhai Vasoliya as partners in the existing partnership firm. Further, ‘M/s Paragon Industries’ was converted from partnership firm to a Private Limited Company under Part XXI of the Companies Act, 2013 in the name of ‘Paragon Fine and Speciality Chemical Private Limited’ vide Certificate of Incorporation dated November 02, 2018.
Subsequently, the company was converted into a Public Limited Company vide Special Resolution passed by the Shareholders at the Extraordinary General Meeting, held on July 15, 2022 and consequently the name of the company was changed from ‘Paragon Fine And Speciality Chemical Private Limited’ to ‘Paragon Fine And Speciality Chemical Limited’ vide a fresh certificate of incorporation dated August 23, 2022 issued by the Registrar of Companies, Ahmedabad.
The company is engaged in the business of custom synthesis and manufacturing of speciality chemical intermediates involving complex and differentiated chemistry. it commenced business as a partnership firm in the year 2004 and have, over the years, evolved into custom synthesis and manufacturing of Pharma Intermediates, AGRO intermediates, Cosmetics Intermediates, Pigment Intermediates and Dye Intermediates, etc. for a diverse base of Indian and global customers. It works with an approach towards chemistry combined with technology and systems that would lead to sustained product development. Its diverse range of products finds applications across various industries, including pharma, agrochemicals, cosmetics, pigments and dyes.
Its manufacturing facility situated at Viramgam District, Ahmedabad, Gujarat and is equipped with reactors enabling it to manufacture a diverse range of products. It also has a pilot plant with two glass line assembly and three reactors installed, for batch reaction technology. it uses various chemistry compositions like: Acetylation, Amination, Catalytic hydrogenation, Chlorosulfonation, Methoxylation, Nitration, Amidation, Ethoxylation, Sulphonation etc which enables it to cater to niche and advanced intermediate requirements of a wider range of end-products and applications.
Business area of the company
The company is engaged in the business of custom synthesis and manufacturing of speciality chemical intermediates involving complex and differentiated chemistry.
Products of the company
History and milestones
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