Is Primo Chemicals Ltd (PRIMO) a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Primo Chemicals Ltd is a good quality company .

Is Primo Chemicals Ltd (PRIMO) undervalued or overvalued?

The key valuation ratios of Primo Chemicals Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is Primo Chemicals Ltd (PRIMO) share price return in the past 10 years?

Primo Chemicals Ltd share price has appreciated 23.8% annually (CAGR) over the past ten years.

Is Primo Chemicals Ltd (PRIMO) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Primo Chemicals Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

What is the share price of Primo Chemicals Ltd (PRIMO)?

Company share prices are keep on changing according to the market conditions. The current trading price of Primo Chemicals Ltd (PRIMO) on 30-Apr-2026 16:59:59 at 16:59 is 23.12.

What is the P/E ratio of Primo Chemicals?

The latest standalone P/E ratio of Primo Chemicals as of 30-Apr-2026 is 128.83.

What is the P/B ratio of Primo Chemicals Ltd (PRIMO)?

The latest standalone P/B ratio of Primo Chemicals Ltd (PRIMO) as of 30-Apr-2026 is 1.59.

What is the 52-week high and low of Primo Chemicals Ltd (PRIMO)?

The 52-week high of Primo Chemicals Ltd (PRIMO) is Rs. 31.44 and the 52-week low is Rs. 16.21.

Primo Chemicals Ltd (PRIMO) Share Analysis – Quality, Valuation Zone & Price Trend & DeciZen Rating

Name: Primo Chemicals Ltd (PRIMO)
Brand: Primo Chemicals

Key Metrics

Market Cap

₹560 Cr.

P/E Ratio

128.83

Price to Book (P/B)

1.59

Price to Sales (P/S)

0.98

EV/EBITDA

7.78

Return on Capital Employed (ROCE)

7.40%

Current Price

₹23.1

Return on Equity (ROE)

0.69%

Return on Assets (ROA)

0.33%

Operating Profit Margin

12.3%

Net Profit Margin

0.42%

Gross Profit Margin

11.9%

Book Value per Share

₹14.5

Sales Growth (YoY)

39.95%

Sales Growth (3 Years)

6.96%

Operating Profit Growth (1 Year)

887.57%

Operating Profit Growth (3 Years)

-7.61%

Net Profit Growth (1 Year)

NA%

52-Week Low / High

₹16 / 31

Net Profit Growth (3 Years)

-65.39%

Dividend Yield

0.00%

Promoter Holding

32.40%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Stock return of Primo Chemicals Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 24.3% based on the current price.

Q.1 Revenue growth of Primo Chemicals Ltd?

Primo Chemicals Ltd revenue growth is 40% for FY-2025, which is above its 5-year CAGR of 13.85%, indicating faster growth.

Q.1 Which industry/sub-sector does Primo Chemicals Ltd belong to?

Primo Chemicals Ltd belongs to the Chemicals & Fertilizers sector, operating specifically within the Chemicals segment.

Q.1 Promoter shareholding and pledge status of Primo Chemicals Ltd?

Promoters hold 32.40% of the Primo Chemicals Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of Primo Chemicals Ltd vs industry peers?

Primo Chemicals Ltd revenue CAGR is 13.85%, compared to the industry median CAGR of 9.62%, indicating faster growth and gaining its market share.

DeciZen - make an informed investing decision on Primo Chemicals

Based on:

Data

Overall Rating ⓘ
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1. Quality

2. Valuation ⓘ

3. Price Trend

Primo Chemicals stock performance

Key Ratios

Is Primo Chemicals Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	-31.9%	-424.5%	26.7%	122.6%	41.6%	42.2%	47.6%	48.5%	-2.6%	7.4%	-
Value Creation Index ⓘ	NA	NA	0.9	7.8	2.0	2.0	2.4	2.5	-1.2	-0.5	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	241	268	334	376	290	226	454	707	397	556	572
Sales YoY Gr.	-	11.2%	24.5%	12.6%	-22.7%	-22.1%	100.6%	55.8%	-43.9%	40%	-
Adj EPS ⓘ	-1.4	-1.8	0.2	4.1	0.1	0	2.3	5.5	-1.1	0.1	0.2
YoY Gr.	-	NA	NA	2063.2%	-97.1%	-75%	7700%	136.3%	-119.5%	NA	-
BVPS (₹) ⓘ	-2.4	-3	2.1	1.5	2.2	3.8	9.7	15	14	14.3	14.5
Adj Net Profit ⓘ	-14.4	-24.3	2.5	55.8	1.6	0.5	56.6	134	-26.2	1.8	4
Cash Flow from Ops. ⓘ	22.7	8.5	43.1	54.4	27.3	52.8	70.2	150	13.7	64.4	-
Debt/CF from Ops. ⓘ	2	3.5	0.7	0.6	1.2	0	0.9	1	12.9	2.6	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	9.7%	13.9%	7%	40%
Adj EPS ⓘ	NA	-7.8%	-67.5%	NA
BVPSⓘ	NA	45.4%	13.8%	1.8%
Share Price	23.8%	5.6%	-32.3%	-8.8%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	-23.1	-52.6	6.7	109.5	2.4	0.7	30.6	39.4	-6.7	0.5	1.3
Op. Profit Mgn % ⓘ	-3.1	-5.8	8.6	20.9	5.5	-5.5	19.1	27.2	1.7	12.3	12.8
Net Profit Mgn % ⓘ	-6	-9.1	0.8	14.9	0.6	0.2	12.5	18.9	-6.6	0.3	0.8
Debt to Equity ⓘ	-1.8	-0.8	1.1	1.5	1.1	0	0.3	0.4	0.5	0.5	-
Working Cap Days ⓘ	47	43	32	29	38	57	57	69	138	97	44
Cash Conv. Cycle ⓘ	-20	-18	-14	-17	-22	-13	-6	-3	24	10	-29

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	0.2	0.4
TTM Sales (₹ Cr.)	572	572
BVPS (₹) ⓘ	14.5	14.9
Reserves (₹ Cr.) ⓘ	306	316
P/BV ⓘ	1.59	1.55
PE ⓘ	128.83	63.07

From the Market
52 Week Low / High (₹)	16.21 / 31.44
All Time Low / High (₹)	0.43 / 100.90
Market Cap (₹ Cr.)	560
Equity (₹ Cr.)	48.5
Face Value (₹)	2
Industry PE ⓘ	46.1

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Primo Chemicals - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	241	268	334	376	290	226	454	707	397	556
Operating Expenses ⓘ +	249	284	305	297	274	239	367	515	390	487
Manufacturing Costs	170	195	201	185	167	133	180	232	207	246
Material Costs	43	43	47	59	49	44	74	141	77	119
Employee Cost	23	30	29	27	34	23	17	23	35	41
Other Costs ⓘ	12	16	27	27	24	39	96	118	72	81
Operating Profit ⓘ	-7	-15	29	78	16	-12	87	192	7	68
Operating Profit Margin (%)	-3.1%	-5.8%	8.6%	20.9%	5.5%	-5.5%	19.1%	27.2%	1.7%	12.3%
Other Income ⓘ +	5	3	7	5	21	55	15	26	19	21
Exceptional Items ⓘ	0	0	-11	0	0	0	0	0	0	0
Interest ⓘ	5	4	20	8	5	5	9	8	18	23
Depreciation ⓘ	7	8	9	16	13	17	17	24	40	51
Profit Before Tax ⓘ	-14	-24	-5	59	18	20	76	186	-31	15
Tax ⓘ	0	0	0	3	9	12	19	53	-6	13
Profit After Tax	-14	-24	-5	56	9	8	57	134	-26	2
PAT Margin (%)	-5.9%	-9.1%	-1.5%	14.9%	3.0%	3.6%	12.5%	18.9%	-6.5%	0.4%
Adjusted EPS (₹)	-1.4	-1.8	-0.4	4.1	0.7	0.5	2.3	5.5	-1.1	0.1
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	54	39	36	65	70	97	274	407	381	383
Share Capital ⓘ	20	27	27	27	27	31	48	48	48	48
Reserves ⓘ	33	12	9	38	43	66	225	358	332	335
Debt +	44	30	30	30	3	0	53	123	149	140
Long Term Debt	43	28	27	28	0	0	53	123	106	80
Short Term Debt	1	2	3	2	3	0	0	0	43	60
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	29	26	21	30	31	28	44	43	31	64
Others Liabilities ⓘ	55	85	113	91	120	121	115	181	147	148
Total Liabilities ⓘ	182	180	201	217	225	246	486	754	708	735
Fixed Assets
Net Fixed Assets ⓘ +	114	111	106	89	168	156	155	278	468	497
Gross Block	346	351	354	361	408	411	425	570	796	851
Accumulated Depreciation	232	240	248	271	241	255	270	292	328	354
CWIP ⓘ	2	5	5	16	15	35	177	213	49	10
Investments ⓘ	0	0	0	0	0	0	30	53	53	53
Inventories	11	8	9	8	8	6	17	18	22	34
Trade Receivables	5	5	5	6	6	16	33	52	35	43
Cash Equivalents	21	19	55	70	12	8	25	31	1	8
Others Assets ⓘ	29	32	21	27	17	24	49	109	79	90
Total Assets ⓘ	182	180	201	217	225	246	486	754	708	735

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	23	9	43	54	27	53	70	150	14	64
PBT ⓘ	-14	-24	-5	59	18	20	76	186	-31	15
Adjustment ⓘ	7	5	13	19	6	39	62	24	51	61
Changes in Working Capital ⓘ	30	28	35	-20	5	-7	-54	-27	8	-12
Tax Paid ⓘ	-0	-0	-0	-3	-2	1	-14	-33	-14	0
Cash Flow From Investing Activity ⓘ +	-3	-11	-3	-36	-82	-24	-191	-233	-56	-43
Capex	0	-0	0	-3	11	1	-4	-182	-65	-38
Net Investments	-3	-7	-0	-4	-0	-0	-34	-37	9	-8
Others ⓘ	-1	-3	-4	-29	-93	-24	-153	-14	0	4
Cash Flow From Financing Activity ⓘ +	-6	-0	-4	-3	-3	-34	137	81	21	-22
Net Proceeds from Shares ⓘ	0	15	0	0	0	0	77	0	0	0
Net Proceeds from Borrowing ⓘ	-1	-15	4	0	0	-31	60	83	-11	-25
Interest Paid ⓘ	0	0	-8	-3	-3	-3	-0	-2	-11	-12
Dividend Paid ⓘ	0	0	0	0	0	0	0	0	0	0
Others ⓘ	-5	-0	0	0	0	-0	0	-0	43	16
Net Cash Flow ⓘ	13	-2	36	16	-58	-5	16	-3	-21	-0

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	0	0	-17.33	229.54	35.01	18.68	38.67	44.82	-7.36	0.69
ROCE (%)	-31.89	-424.48	26.7	122.63	41.59	42.21	47.55	48.46	-2.58	7.4
Asset Turnover Ratio	1.55	1.67	1.8	1.8	1.32	0.96	1.24	1.14	0.54	0.77
PAT to CFO Conversion(x)	N/A	N/A	N/A	0.96	3	6.63	1.23	1.12	N/A	32
Working Capital Days
Receivable Days	8.10	6	5	5.20	7.20	17.70	19.60	21.70	39.80	25.60
Inventory Days	13.20	11.50	9.10	8.30	10.10	11.40	9.40	9.10	18.50	18.50
Payable Days	243.90	233.90	179.70	157.60	228.60	245.30	176.20	112.80	176.40	144.60

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Primo Chemicals Ltd FAQs

The current trading price of Primo Chemicals on 30-Apr-2026 16:59 is ₹23.12.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 29-Apr-2026 the market cap of Primo Chemicals stood at ₹560.3 Cr

The latest P/E ratio of Primo Chemicals as of 29-Apr-2026 is 128.8.

The latest P/B ratio of Primo Chemicals as of 29-Apr-2026 is 1.59.

The 52-week high of Primo Chemicals is ₹31.44 and the 52-week low is ₹16.21.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Primo Chemicals is ₹572 ( Cr.) .

About Primo Chemicals Ltd

Primo Chemicals (formerly known as Punjab Alkalies & Chemicals) is one of the prominent Indian manufacturers of essential industrial chemicals. Since beginning commercial production in January 1984, they have become a leading producer of Caustic Soda, with a daily capacity of over hundreds of tonnes. Caustic Soda is a crucial chemical used in industries such as paper, soap and aluminium production.

Beyond Caustic Soda, the company offers a diverse range of products, including Hydrochloric Acid, Liquid Chlorine, Hydrogen Gas, Aluminium Chloride, Stable Bleaching Powder and Caustic Soda Flakes. This broad portfolio serves various sectors, including water treatment, textiles and aquaculture. Committed to sustainability, the company employs ecofriendly and cost-effective technologies. Their dedication to safety and a highly skilled workforce makes them a dependable supplier for businesses in need of high-quality industrial chemicals.

Business area of the company

The company is a prominent producer of Caustic Soda. It also produces valuable by-products such as Hydrochloric Acid, Liquid Chlorine, and Hydrogen gas, etc.

Products of the company

Caustic Soda Lye
Caustic Soda Flakes
Hydrochloric Acid
Liquid Chlorine
Sodium Hypochlorite
Hydrogen Gas
Stable Bleaching Powder
Aluminium Chloride

Awards and recognition

Jawaharlal Nehru Memorial National Award' for excellence in Industry, National Award for Excellence in Energy Conservation
Punjab State Safety Award for Largest Reduction in Frequency Rate of Accidents in Chemical Industry (more than 5 lac manhour group).
Their employees have got 'Vishwakarma Rashtriya Puruskar' from Government of India
'Kirt Shromani' & 'Kirt Veer' Awards in the field of Safety & Productivity from Government of Punjab.

History and milestones:

1975: Incorporated as Punjab Alkalies Limited
1983: Company was renamed, Company’s equity shares issued to public.
1984: Commenced operations with an installed capacity of 37,059 TPA of Caustic Soda and 16,500 TPA of Liquid Chlorine.
1988: Transition from graphite anodes to dimensionally stable metal anodes, with the installation of an anode control and protection device.
1991: The installed capacities for Caustic Soda Lye and Liquid Chlorine have been raised to 41,152 TPA and 29,700 TPA, respectively.
1992: The installed capacity of Caustic Soda Lye has been increased to 50,820 TPA.
1995: A 100 TPD grassroots plant using HOECHSTUHDE Membrane Cell Technology was commissioned (now Unit-I). The installed capacity of Caustic Soda Lye increased to 83,820 TPA and Chlorine production rose to 52,800 TPA.
1998: Conversion of the existing 170 TPD Mercury Cell Plant to 200 TPD Membrane Cell Plant (now Unit-II).
2019: Conversion of the existing 200 TPD Membrane Cell Plant (Unit-II) from generation 3 to a new 6th generation Membrane Cell Plant.
2020: Appointment of new management.
2022: Manufacturing capacity increased from 300 TPD to 500 TPD.
2022: The company was renamed ‘Primo Chemicals Ltd’ effective December 19, 2022.
2022: Additionally, a 49% stake was acquired in Flow Tech Chemicals.
2023: Commissioned 100 TPD SBP Plant, 35 MW Captive Power Plant, 50 TPD Aluminium Chloride Plant and 200 TPD Caustic Soda Flaker Plant at its Naya Nangal facility in Punjab.
2024: Listed on the National Stock Exchange.

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Primo Chemicals Ltd (PRIMO) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Primo Chemicals Share Price