Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹26.36, the stock trades at a trailing P/E ratio of 41.6x. Average trailing P/E is 21x in the Chemicals industry in India. Total loss to shareholders of 58% over the past three years. New Risk • Jun 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 26% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$100m (₹6.39b market cap, or US$67.2m). Reported Earnings • May 06
Full year 2026 earnings released: EPS: ₹0.63 (vs ₹0.15 in FY 2025) Full year 2026 results: EPS: ₹0.63 (up from ₹0.15 in FY 2025). Revenue: ₹5.81b (up 4.7% from FY 2025). Net income: ₹153.7m (up 332% from FY 2025). Profit margin: 2.6% (up from 0.6% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance. Duyuru • Apr 29
Primo Chemicals Limited to Report Q4, 2026 Results on May 05, 2026 Primo Chemicals Limited announced that they will report Q4, 2026 results on May 05, 2026 Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₹21.54, the stock trades at a trailing P/E ratio of 58.8x. Average trailing P/E is 20x in the Chemicals industry in India. Total loss to shareholders of 72% over the past three years. New Risk • Feb 14
New major risk - Revenue and earnings growth Earnings have declined by 20% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 20% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹5.35b market cap, or US$59.0m). Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: ₹0.04 (vs ₹0.09 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.04 (down from ₹0.09 in 3Q 2025). Revenue: ₹1.45b (flat on 3Q 2025). Net income: ₹10.5m (down 54% from 3Q 2025). Profit margin: 0.7% (down from 1.6% in 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Duyuru • Feb 02
Primo Chemicals Limited to Report Q3, 2026 Results on Feb 12, 2026 Primo Chemicals Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 12, 2026 Reported Earnings • Nov 16
Second quarter 2026 earnings released: EPS: ₹0.17 (vs ₹0.53 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.17 (down from ₹0.53 in 2Q 2025). Revenue: ₹1.39b (up 3.6% from 2Q 2025). Net income: ₹41.6m (down 68% from 2Q 2025). Profit margin: 3.0% (down from 9.6% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Duyuru • Nov 03
Primo Chemicals Limited to Report Q2, 2026 Results on Nov 14, 2025 Primo Chemicals Limited announced that they will report Q2, 2026 results at 12:15 PM, Indian Standard Time on Nov 14, 2025 Duyuru • Aug 18
Primo Chemicals Limited, Annual General Meeting, Sep 30, 2025 Primo Chemicals Limited, Annual General Meeting, Sep 30, 2025, at 14:00 Indian Standard Time. Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: ₹0.17 (vs ₹0.46 loss in 1Q 2025) First quarter 2026 results: EPS: ₹0.17 (up from ₹0.46 loss in 1Q 2025). Revenue: ₹1.42b (up 16% from 1Q 2025). Net income: ₹40.8m (up ₹153.3m from 1Q 2025). Profit margin: 2.9% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Duyuru • Aug 04
Primo Chemicals Limited to Report Q1, 2026 Results on Aug 14, 2025 Primo Chemicals Limited announced that they will report Q1, 2026 results on Aug 14, 2025 Reported Earnings • Jun 04
Full year 2025 earnings released: EPS: ₹0.15 (vs ₹1.05 loss in FY 2024) Full year 2025 results: EPS: ₹0.15 (up from ₹1.05 loss in FY 2024). Revenue: ₹5.76b (up 45% from FY 2024). Net income: ₹35.6m (up ₹288.9m from FY 2024). Profit margin: 0.6% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Duyuru • May 19
Primo Chemicals Limited to Report Q4, 2025 Results on May 30, 2025 Primo Chemicals Limited announced that they will report Q4, 2025 results on May 30, 2025 New Risk • Apr 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (₹7.00b market cap, or US$81.9m). Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₹28.87, the stock trades at a trailing P/E ratio of 63.2x. Average trailing P/E is 25x in the Chemicals industry in India. Total loss to shareholders of 67% over the past three years. Reported Earnings • Feb 18
Third quarter 2025 earnings released: EPS: ₹0.09 (vs ₹0.63 loss in 3Q 2024) Third quarter 2025 results: EPS: ₹0.09 (up from ₹0.63 loss in 3Q 2024). Revenue: ₹1.49b (up 63% from 3Q 2024). Net income: ₹22.9m (up ₹174.8m from 3Q 2024). Profit margin: 1.5% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. Duyuru • Feb 01
Primo Chemicals Limited to Report Q3, 2025 Results on Feb 14, 2025 Primo Chemicals Limited announced that they will report Q3, 2025 results on Feb 14, 2025 New Risk • Jan 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.61b (US$99.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.05x net interest cover). Minor Risk Market cap is less than US$100m (₹8.61b market cap, or US$99.3m). Recent Insider Transactions • Nov 23
Insider recently sold ₹948k worth of stock On the 19th of November, - Neelam sold around 25k shares on-market at roughly ₹38.55 per share. This transaction amounted to 9.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹1.3m more than they bought in the last 12 months. Duyuru • Nov 02
Primo Chemicals Limited to Report Q2, 2025 Results on Nov 12, 2024 Primo Chemicals Limited announced that they will report Q2, 2025 results on Nov 12, 2024 Reported Earnings • Aug 13
First quarter 2025 earnings released: ₹0.46 loss per share (vs ₹0.18 loss in 1Q 2024) First quarter 2025 results: ₹0.46 loss per share (further deteriorated from ₹0.18 loss in 1Q 2024). Revenue: ₹1.28b (up 16% from 1Q 2024). Net loss: ₹112.5m (loss widened 162% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Duyuru • Aug 12
Primo Chemicals Limited, Annual General Meeting, Sep 27, 2024 Primo Chemicals Limited, Annual General Meeting, Sep 27, 2024, at 12:30 Indian Standard Time. Duyuru • Aug 01
Primo Chemicals Limited to Report Q1, 2025 Results on Aug 12, 2024 Primo Chemicals Limited announced that they will report Q1, 2025 results on Aug 12, 2024 Reported Earnings • Jun 04
Full year 2024 earnings released: ₹1.05 loss per share (vs ₹5.67 profit in FY 2023) Full year 2024 results: ₹1.05 loss per share (down from ₹5.67 profit in FY 2023). Revenue: ₹4.16b (down 41% from FY 2023). Net loss: ₹253.3m (down 118% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jun 01
Primo Chemicals Limited Announces Chief Financial Officer Changes, Effective from July 1, 2024 Primo Chemicals Limited at the board meeting held on May 30, 2024, approved the appointment of CA Sunil Parsad as Chief Financial Officer (KMP) of the Company in place of Shri Arun Kumar Kaushal with effect from July 1, 2024. CA Sunil Parsad is B.com, M.com and a qualified Chartered Accountant. He is having a vast experience of around 20+ years in Fund Raising, Finalization of Balance Sheets, Accounts & Finance Control Functions, Arrangement & Management of working capital & Project Finance, Income Tax, TDS, GST, Companies Act, SAP Implementation, managing Statutory & Internal Audit, FEMA/RBI Compliances for export /import & ODI, etc. He has also gained certifications in IND AS Professional from Ernst & Young Associates LLP and Fraud Detection and Forensic Examinations from West Virginia University. Duyuru • May 16
Primo Chemicals Limited to Report Q4, 2024 Results on May 30, 2024 Primo Chemicals Limited announced that they will report Q4, 2024 results on May 30, 2024 New Risk • May 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. New Risk • Apr 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. New Risk • Mar 28
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.26b (US$99.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 11
Third quarter 2024 earnings released: ₹0.63 loss per share (vs ₹1.24 profit in 3Q 2023) Third quarter 2024 results: ₹0.63 loss per share (down from ₹1.24 profit in 3Q 2023). Revenue: ₹951.3m (down 49% from 3Q 2023). Net loss: ₹151.9m (down 151% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 05
Second quarter 2024 earnings released: ₹0.53 loss per share (vs ₹1.72 profit in 2Q 2023) Second quarter 2024 results: ₹0.53 loss per share (down from ₹1.72 profit in 2Q 2023). Revenue: ₹932.0m (down 50% from 2Q 2023). Net loss: ₹129.4m (down 131% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 28
Primo Chemicals Limited to Report Q2, 2024 Results on Nov 04, 2023 Primo Chemicals Limited announced that they will report Q2, 2024 results on Nov 04, 2023 Reported Earnings • Aug 17
First quarter 2024 earnings released: ₹0.18 loss per share (vs ₹1.98 profit in 1Q 2023) First quarter 2024 results: ₹0.18 loss per share (down from ₹1.98 profit in 1Q 2023). Revenue: ₹1.10b (down 41% from 1Q 2023). Net loss: ₹42.9m (down 109% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 84% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 15
Primo Chemicals Limited, Annual General Meeting, Sep 29, 2023 Primo Chemicals Limited, Annual General Meeting, Sep 29, 2023, at 12:30 Indian Standard Time. Duyuru • Aug 04
Primo Chemicals Limited to Report Q1, 2024 Results on Aug 14, 2023 Primo Chemicals Limited announced that they will report Q1, 2024 results on Aug 14, 2023 Reported Earnings • May 30
Full year 2023 earnings released: EPS: ₹5.67 (vs ₹2.50 in FY 2022) Full year 2023 results: EPS: ₹5.67 (up from ₹2.50 in FY 2022). Revenue: ₹7.34b (up 62% from FY 2022). Net income: ₹1.34b (up 136% from FY 2022). Profit margin: 18% (up from 13% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has increased by 112% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹80.93, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 1,295% over the past three years. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹78.70, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 1,194% over the past three years. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹1.24 (vs ₹1.77 in 3Q 2022) Third quarter 2023 results: EPS: ₹1.24 (down from ₹1.77 in 3Q 2022). Revenue: ₹1.92b (up 47% from 3Q 2022). Net income: ₹300.3m (down 30% from 3Q 2022). Profit margin: 16% (down from 33% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has increased by 119% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Feb 03
Primo Chemicals Limited to Report Q3, 2023 Results on Feb 10, 2023 Primo Chemicals Limited announced that they will report Q3, 2023 results on Feb 10, 2023 Duyuru • Jan 14
Primo Chemicals Limited Announces Commissioning of Stable Bleaching Powder ((SBP) Plant At Naya Nangal, Punjab Primo Chemicals Limited informed that the Company is commissioning Stable Bleaching Powder (SBP) Plant at Naya Nangal, Punjab, having capacity of 33000 MT Per Annum. Name of the Product: Stable Bleaching Powder. Date of launch: January 13, 2023. Category of the Product: Speciality Chemicals. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 1 experienced director. No highly experienced directors. MD, Director of Marketing & Executive Director Naveen Chopra is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 30
Second quarter 2023 earnings released: EPS: ₹1.72 (vs ₹1.57 loss in 2Q 2022) Second quarter 2023 results: EPS: ₹1.72 (up from ₹1.57 loss in 2Q 2022). Revenue: ₹1.95b (up 124% from 2Q 2022). Net income: ₹417.7m (up ₹790.5m from 2Q 2022). Profit margin: 22% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 113% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 20
Punjab Alkalies & Chemicals Limited to Report Q2, 2023 Results on Oct 28, 2022 Punjab Alkalies & Chemicals Limited announced that they will report Q2, 2023 results on Oct 28, 2022 Duyuru • Aug 12
Punjab Alkalies & Chemicals Limited, Annual General Meeting, Sep 15, 2022 Punjab Alkalies & Chemicals Limited, Annual General Meeting, Sep 15, 2022, at 12:30 Indian Standard Time. Reported Earnings • Aug 02
First quarter 2023 earnings released: EPS: ₹1.98 (vs ₹0.48 in 1Q 2022) First quarter 2023 results: EPS: ₹1.98 (up from ₹0.48 in 1Q 2022). Revenue: ₹1.91b (up 154% from 1Q 2022). Net income: ₹480.0m (up 439% from 1Q 2022). Profit margin: 25% (up from 12% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 94% per year, which means it is well ahead of earnings. Duyuru • Jul 26
Punjab Alkalies & Chemicals Limited to Report Q1, 2023 Results on Aug 01, 2022 Punjab Alkalies & Chemicals Limited announced that they will report Q1, 2023 results on Aug 01, 2022 Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹62.65, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 16x in the Chemicals industry in India. Total returns to shareholders of 336% over the past three years. Reported Earnings • May 20
Full year 2022 earnings released: EPS: ₹13.07 (vs ₹0.59 in FY 2021) Full year 2022 results: EPS: ₹13.07 (up from ₹0.59 in FY 2021). Revenue: ₹4.69b (up 107% from FY 2021). Net income: ₹567.2m (up ₹484.8m from FY 2021). Profit margin: 12% (up from 3.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 75% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. MD, Director of Marketing & Executive Director Naveen Chopra is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Feb 13
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹1.77 (up from ₹0.26 in 3Q 2021). Revenue: ₹1.31b (up 125% from 3Q 2021). Net income: ₹429.5m (up ₹393.7m from 3Q 2021). Profit margin: 33% (up from 6.1% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 178 percentage points per year, which is a significant difference in performance. Duyuru • Feb 04
Punjab Alkalies & Chemicals Limited to Report Q3, 2022 Results on Feb 11, 2022 Punjab Alkalies & Chemicals Limited announced that they will report Q3, 2022 results on Feb 11, 2022 Recent Insider Transactions • Jan 07
Independent Non-Executive Director recently bought ₹146k worth of stock On the 31st of December, Kuldip Suhag bought around 500 shares on-market at roughly ₹292 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₹1.7m. Insiders have collectively bought ₹6.8m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 23
Insider recently bought ₹1.0m worth of stock On the 16th of November, Divya Suhag bought around 6k shares on-market at roughly ₹170 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹2.0m more in shares than they have sold in the last 12 months. Reported Earnings • Nov 13
Second quarter 2022 earnings released: ₹7.87 loss per share (vs ₹1.28 profit in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2022 results: Revenue: ₹8.94m (down 98% from 2Q 2021). Net loss: ₹3.73m (down 111% from profit in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improved over the past week After last week's 17% share price gain to ₹133, the stock trades at a trailing P/E ratio of 31.4x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 89% over the past three years. Executive Departure • Sep 06
Additional Independent Director Sanjiv Agarwal has left the company On the 27th of August, Sanjiv Agarwal's tenure as Additional Independent Director ended after less than a year in the role. We don't have any record of a personal shareholding under Sanjiv's name. A total of 5 executives have left over the last 12 months. Executive Departure • Aug 25
Additional Independent Director Girish Bhagat has left the company On the 18th of August, Girish Bhagat's tenure as Additional Independent Director ended after less than a year in the role. We don't have any record of a personal shareholding under Girish's name. A total of 4 executives have left over the last 12 months. Reported Earnings • Aug 15
First quarter 2022 earnings released: EPS ₹2.41 (vs ₹1.23 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹780.4m (up 114% from 1Q 2021). Net income: ₹89.0m (up ₹122.3m from 1Q 2021). Profit margin: 11% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improved over the past week After last week's 15% share price gain to ₹111, the stock trades at a trailing P/E ratio of 37.3x. Average trailing P/E is 21x in the Chemicals industry in India. Total returns to shareholders of 93% over the past three years. Duyuru • May 24
Punjab Alkalies & Chemicals Limited announced that it has received INR 324 million in funding from Plutus Wealth Management LLP and other investors On May 22, 2021, Punjab Alkalies & Chemicals Limited (BSE:506852) closed the transaction. The transaction has been approved by the board of directors of the company. Reported Earnings • May 24
Full year 2021 earnings released: EPS ₹2.97 (vs ₹3.24 in FY 2020) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: ₹2.81b (down 3.1% from FY 2020). Net income: ₹82.4m (down 6.5% from FY 2020). Profit margin: 2.9% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Duyuru • Mar 18
Punjab Alkalies & Chemicals Limited announced that it expects to receive INR 324 million in funding from Plutus Wealth Management LLP, and other investors Punjab Alkalies & Chemicals Limited (BSE:506852) announced a private placement of 5,400,000 shares at issue price of INR 60 per share for gross proceeds of INR 324,000,000 on March 16, 2021. The transaction will include participation from Plutus Wealth Management LLP for 2,500,000 shares, Hemlata Kamal Poddar for 400,000 shares, Arun Kumar Poddar for 400,000 shares, Anita Kedia, Anup Gupta, Nand Kishore Agarwal, Rajesh Gadodia, Rajesh Kumar Agarwal, Ratiraj Tibrewal, Shyamsunder Bharubaxn Mandawewala, Poonam Sunil Bagaria, Amar Jeet Singh Randhawa, Aman Preet Singh Sohi for 200,000 shares each, and Sameer Agarwal for 100,000 shares. The transaction has been approved by the board of directors of the company. The company will raise money through preferential allotment. Is New 90 Day High Low • Mar 09
New 90-day high: ₹61.70 The company is up 26% from its price of ₹48.90 on 09 December 2020. The Indian market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 10.0% over the same period. Reported Earnings • Feb 13
Third quarter 2021 earnings released: EPS ₹1.32 (vs ₹0.02 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹653.0m (up 10.0% from 3Q 2020). Net income: ₹35.8m (up ₹36.3m from 3Q 2020). Profit margin: 5.5% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Duyuru • Feb 05
Punjab Alkalies & Chemicals Limited to Report Q3, 2021 Results on Feb 12, 2021 Punjab Alkalies & Chemicals Limited announced that they will report Q3, 2021 results on Feb 12, 2021 Duyuru • Feb 04
Punjab Alkalies & Chemicals Limited Announces Board Appointments The Board of Directors of Punjab Alkalies & Chemicals Limited in its meeting held on February 03, 2021 approved appointment of Shri Girish Bhagat as Additional Director in an Independent capacity with effect from February 03, 2021 and appointment of Dr. Sanjiv Agarwal as Additional Director in an Independent capacity with effect from February 3, 2021 till the date of the next Annual General Meeting. Is New 90 Day High Low • Jan 20
New 90-day high: ₹55.35 The company is up 13% from its price of ₹49.00 on 22 October 2020. The Indian market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 22% over the same period. Duyuru • Dec 02
Punjab Alkalies & Chemicals Limited Approves Directorate Appointment Punjab Alkalies & Chemicals Limited at its EGM held on December 1, 2020 approved the appointment of Shri Ashok Goyal as an Independent Director, not liable to retire by rotation, for a term of five consecutive years with effect from 1 December 2020, appointment of Shri Kuldip Singh Suhag, as an Independent Director, not liable to retire by rotation, for a term of five consecutive years with effect from 1 December 2020, appointment of Shri Tilak Raj Bajalia, as an Independent Director, not liable to retire by rotation, for a term of five consecutive years with effect from 1 December 2020. Is New 90 Day High Low • Nov 25
New 90-day low: ₹44.30 The company is down 26% from its price of ₹60.10 on 27 August 2020. The Indian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 8.0% over the same period. Reported Earnings • Oct 21
First half earnings released Over the last 12 months the company has reported total losses of ₹17.1m, with earnings decreasing by ₹354.7m from the prior year. Total revenue was ₹2.22b over the last 12 months, down 37% from the prior year. Duyuru • Oct 06
Flowtech Industrial Projects Pvt. Ltd., Flow Tech Chemicals Private Limited, Sukhbir Singh Dahiya, Jagbir Singh Ahlawat, Jatin Dahiya and Parerna Ahlawat completed the acquisition of additional 34% stake in Punjab Alkalies & Chemicals Limited (BSE:506852) from Punjab State Industrial Development Corporation Ltd. and other public shareholders. Flowtech Industrial Projects Pvt. Ltd., Flow Tech Chemicals Private Limited, Sukhbir Singh Dahiya, Jagbir Singh Ahlawat, Jatin Dahiya and Parerna Ahlawat made an offer to acquire additional 26% stake in Punjab Alkalies & Chemicals Limited (BSE:506852) from Punjab State Industrial Development Corporation Ltd. and other public shareholders for approximately INR 280 million on August 5, 2020. Under the terms, the size of this offer is 7.05 million fully paid up equity shares representing 26% of the total outstanding share capital of Punjab Alkalies & Chemicals and the offer per share is INR 39.1 and it will be payable in cash.
As on September 14, 2020, the terms were revised and Flowtech Industrial Projects Pvt. Ltd., Flow Tech Chemicals Private Limited, Sukhbir Singh Dahiya, Jagbir Singh Ahlawat, Jatin Dahiya and Parerna Ahlawat will acquire additional 34% stake in Punjab Alkalies & Chemicals Limited (BSE:506852) from Punjab State Industrial Development Corporation Ltd. and other public shareholders for approximately INR 414 million. Under the terms the offer price was revised to INR 45 from INR 39.1 per equity share and the size of offer was revised to 9.2 million shares from 7.05 million shares. In a related transaction, Flowtech Industrial Projects Pvt. Ltd., Flow Tech Chemicals Private Limited, Sukhbir Singh Dahiya, Jagbir Singh Ahlawat, Jatin Dahiya and Parerna Ahlawat acquired 24.39% stake in Punjab Alkalies & Chemicals. The acquisition will be financed through internal accruals.
The Offer is not a conditional to minimum level of acceptances and no statutory or other approvals required to complete the Offer. As of September 14, 2020, the Committee of Independent Directors of Punjab Alkalies recommended the open offer. The Tendering Period of the Offer shall commence on September 17, 2020 and close on September 30, 2020. NitiN Somani and Anchal Lohia of Sundae Capital Advisors Private Limited acted as financial advisor to the acquirers in this transaction. S P Gupta of Beetal Financial & Computer Services Private Limited acted registrar for Flow Tech Group of Industries and Flowtech Industrial Projects Private Limited. Corporate Professionals Capital Private Limited acted as financial advisor for Committee of Independent Directors.
Flowtech Industrial Projects Pvt. Ltd., Flow Tech Chemicals Private Limited, Sukhbir Singh Dahiya, Jagbir Singh Ahlawat, Jatin Dahiya and Parerna Ahlawat completed the acquisition of additional 34% stake in Punjab Alkalies & Chemicals Limited (BSE:506852) from Punjab State Industrial Development Corporation Ltd. and other public shareholders on September 29, 2020. The settlement for the said open offer is schedule on or before October 15, 2020. As of October 5, 2020, the revised settlement date is October 8, 2020. Duyuru • Sep 12
Punjab Alkalies & Chemicals Limited to Report Q1, 2021 Results on Aug 14, 2020 Punjab Alkalies & Chemicals Limited announced that they will report Q1, 2021 results on Aug 14, 2020 
