Paragon Fine And Speciality Chemical Ltd - Stock Valuation and Financial Performance

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

• Dichlone
• Chloranil-based dyes
• 3,4-Dimethoxyaniline
• 2- Amino-5- Methoxy Benzene-1,4- Disulfonic acid Disodium SALT
• 5-Nitro-2-Amino Phenol
• 1-Acetamido7-Naphthol

History and milestones

• 2004: It originally started business of manufacture and sale of chemicals as a partnership firm ‘M/s Paragon Industries’.
• 2004: Initiated manufacturing of Hair Colour or Dye Intermediates.
• 2004: Received Import Export code.
• 2013: Received ISO 9001:2015.
• 2017: Received OHSAS 18001: 2007.
• 2018: Incorporation of the Company as Private Limited Company from partnership firm.
• 2020: Received ISO 45001:2018.
• 2020: Received ISO 14001:2015.
• 2021: Received DSIR approval for its in house R&D facility.
• 2022: Received One Star Export House certified.
• 2022: Received SA 8000 certification.
• 2022: Conversion of the company from Private Limited to Public Limited.
• 2023: Land Acquired for Warehouse near Viramgam Plant.