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Primo Chemicals Ltd (PRIMO)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506852 NSE: PRIMO Chemicals | Small Cap | Primo Chemicals Share Price
₹25.30 -0.56 (-2.17%)
As on 16-Oct'26 16:59
Primo Chemicals Ltd (PRIMO)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506852 NSE: PRIMO Chemicals | Small Cap | Primo Chemicals Share Price
₹25.30 -0.56 (-2.17%)
As on 16-Oct'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹613 Cr.
Current Price
₹25.3
52-Week Low / High
₹16 / 29
TTM EPS
₹0.7
TTM Sales
₹560 Cr.
Book Value per Share
₹15.5
P/E Ratio
38.38
Higher than its 5-year historical median
Industry PE
47.3
Price to Book (P/B)
1.64
Lower than its 5-year historical median
Price to Sales (P/S)
1.09
Lower than its 5-year historical median
EV/EBITDA
8.36
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
2.91%
Underperforms industry median
Return on Capital Employed (ROCE)
6.90%
Underperforms industry median
Return on Assets (ROA)
1.47%
Operating Profit Margin
12.2%
Net Profit Margin
1.88%
Gross Profit Margin
12.4%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
1.1%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
-0.07%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
349.36%
Asset Quality
Promoter Holding
32.40%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹328 Cr.
Equity
₹48.5 Cr.
Face Value
₹2
All Time Low / High
₹0.43 / 100.90
Check Before You Invest
Quality
Somewhat GoodValuation
FairCheck Valuation charts
Price Trend
Strong
Is Primo Chemicals Ltd a good quality company?
Primo Chemicals Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Primo Chemicals Ltd performance compare with that of its Peers?
Revenue growth of Primo Chemicals Ltd vs industry peers?
Primo Chemicals Ltd revenue CAGR is 19.93%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
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.
Stock return of Primo Chemicals Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 21.9% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Primo Chemicals Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -424.5% | 26.7% | 122.6% | 41.6% | 42.2% | 47.6% | 48.5% | -2.6% | 7.4% | 7% | - |
| Value Creation Index ⓘ | NA | 0.9 | 7.8 | 2.0 | 2.0 | 2.4 | 2.5 | -1.2 | -0.5 | -0.5 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 268 | 334 | 376 | 290 | 226 | 454 | 707 | 397 | 556 | 562 | 560 |
| Sales YoY Gr. | - | 24.5% | 12.6% | -22.7% | -22.1% | 100.6% | 55.8% | -43.9% | 40% | 1.1% | - |
| Adj EPS ⓘ | -1.8 | 0.2 | 4.1 | 0.1 | 0 | 2.3 | 5.5 | -1.1 | 0.1 | 0.4 | 0.5 |
| YoY Gr. | - | NA | 2063.2% | -97.1% | -75% | 7700% | 136.3% | -119.5% | NA | 437.5% | - |
| BVPS (₹) ⓘ | -3 | 2.1 | 1.5 | 2.2 | 3.8 | 9.7 | 15 | 14 | 14.3 | 14.8 | 15 |
| Adj Net Profit ⓘ | -24.3 | 2.5 | 55.8 | 1.6 | 0.5 | 56.6 | 134 | -26.2 | 1.8 | 10.4 | 11 |
| Cash Flow from Ops. ⓘ | 8.5 | 43.1 | 54.4 | 27.3 | 52.8 | 70.2 | 150 | 13.7 | 64.4 | 64.7 | - |
| Debt/CF from Ops. ⓘ | 3.5 | 0.7 | 0.6 | 1.2 | 0 | 0.9 | 1 | 12.9 | 2.6 | 2 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 8.6% | 19.9% | -7.4% | 1.1% | ||||
| Adj EPS ⓘ | NA | 70.3% | -57.3% | 437.5% | ||||
| BVPSⓘ | NA | 31.5% | -0.4% | 3.6% | ||||
| Share Price | 21.9% | -3.9% | -24.2% | 6.7% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -52.6 | 6.7 | 109.5 | 2.4 | 0.7 | 30.6 | 39.4 | -6.7 | 0.5 | 2.7 | 3.1 |
| Op. Profit Mgn % ⓘ | -5.8 | 8.6 | 20.9 | 5.5 | -5.5 | 19.1 | 27.2 | 1.7 | 12.3 | 12.2 | 12.3 |
| Net Profit Mgn % ⓘ | -9.1 | 0.8 | 14.9 | 0.6 | 0.2 | 12.5 | 18.9 | -6.6 | 0.3 | 1.9 | 2 |
| Debt to Equity ⓘ | -0.8 | 1.1 | 1.5 | 1.1 | 0 | 0.3 | 0.4 | 0.5 | 0.5 | 0.4 | - |
| Working Cap Days ⓘ | 43 | 32 | 29 | 38 | 57 | 57 | 69 | 138 | 97 | 99 | 40 |
| Cash Conv. Cycle ⓘ | -18 | -14 | -17 | -22 | -13 | -6 | -3 | 24 | 10 | 11 | -29 |
Valuation of Primo Chemicals - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'02 | Jun'03 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|
| Sales | 140 | 179 | 226 | 454 | 707 | 397 | 556 | 562 |
| Operating Expenses ⓘ + | 124 | 168 | 239 | 367 | 515 | 390 | 487 | 493 |
| Operating Profit ⓘ | 16 | 11 | -12 | 87 | 192 | 7 | 68 | 68 |
| Operating Profit Margin (%) | 11.3% | 6.1% | -5.5% | 19.1% | 27.2% | 1.7% | 12.3% | 12.2% |
| Other Income ⓘ + | 1 | 1 | 55 | 15 | 26 | 19 | 21 | 20 |
| Interest ⓘ | 23 | 26 | 5 | 9 | 8 | 18 | 23 | 18 |
| Depreciation ⓘ | 11 | 14 | 17 | 17 | 24 | 40 | 51 | 53 |
| Profit Before Tax ⓘ | -17 | -28 | 20 | 76 | 186 | -31 | 15 | 17 |
| Tax ⓘ | 0 | 0 | 12 | 19 | 53 | -6 | 13 | 6 |
| Profit After Tax | -17 | -28 | 8 | 57 | 134 | -26 | 2 | 11 |
| PAT Margin (%) | -12.3% | -15.4% | 3.6% | 12.5% | 18.9% | -6.5% | 0.4% | 1.9% |
| Adjusted EPS (₹) | -1.7 | -2.7 | 0.5 | 2.4 | 5.7 | -1.1 | 0.2 | 0.6 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'02 | Jun'03 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 15 | -12 | 97 | 276 | 412 | 387 | 391 | 406 | |||
| Debt + | 155 | 170 | 0 | 53 | 123 | 149 | 140 | 103 | |||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Trade Payables | 10 | 10 | 28 | 44 | 43 | 31 | 64 | 33 | |||
| Others Liabilities ⓘ | 17 | 19 | 121 | 115 | 181 | 147 | 148 | 152 | |||
| Total Liabilities ⓘ | 198 | 187 | 246 | 488 | 760 | 714 | 743 | 694 | |||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 158 | 146 | 156 | 155 | 278 | 468 | 497 | 469 | |||
| CWIP ⓘ | 0 | 1 | 35 | 177 | 213 | 49 | 10 | 12 | |||
| Investments ⓘ | 0 | 0 | 0 | 33 | 59 | 59 | 61 | 65 | |||
| Inventories | 8 | 7 | 6 | 17 | 18 | 22 | 34 | 33 | |||
| Trade Receivables | 16 | 19 | 16 | 33 | 52 | 35 | 43 | 32 | |||
| Cash Equivalents | 6 | 8 | 8 | 25 | 31 | 1 | 8 | 4 | |||
| Others Assets ⓘ | 8 | 7 | 24 | 49 | 109 | 79 | 90 | 78 | |||
| Total Assets ⓘ | 198 | 187 | 246 | 488 | 760 | 714 | 743 | 694 | |||
| PARTICULARS | Mar'02 | Jun'03 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 17 | 17 | 53 | 70 | 150 | 14 | 64 | 65 |
| Cash Flow From Investing Activity ⓘ + | -2 | -0 | -24 | -191 | -233 | -56 | -43 | -18 |
| Cash Flow From Financing Activity ⓘ + | -16 | -15 | -34 | 137 | 81 | 21 | -22 | -46 |
| Net Cash Flow ⓘ | -1 | 2 | -5 | 16 | -3 | -21 | -0 | 1 |
| PARTICULARS | Mar'02 | Jun'03 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -121.26 | N/A | 36.96 | 38.35 | 44.2 | -7.23 | 0.67 | 2.91 | ||
| ROCE (%) | 3.18 | N/A | 23.56 | 47.22 | 47.96 | -2.55 | 7.3 | 6.9 | ||
| Asset Turnover Ratio | 0.83 | 1.08 | 1.05 | 1.24 | 1.13 | 0.54 | 0.76 | 0.78 | ||
| PAT to CFO Conversion(x) | N/A | N/A | 6.63 | 1.23 | 1.12 | N/A | 32 | 5.91 | ||
| Working Capital Days | ||||||||||
| Receivable Days | 35.90 | 30.40 | 28.10 | 19.60 | 21.70 | 39.80 | 25.60 | 24.20 | ||
| Inventory Days | 18.90 | 13.50 | 10.70 | 9.40 | 9.10 | 18.50 | 18.50 | 21.80 | ||
| Payable Days | 168.30 | 142.50 | 157 | 176.20 | 112.80 | 176.40 | 144.60 | 167.60 | ||
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Primo Chemicals Ltd FAQs
The current trading price of Primo Chemicals on 16-Oct-2026 16:59 is ₹25.30.
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 15-Oct-2026 the market cap of Primo Chemicals stood at ₹613.1 Cr
The latest P/E ratio of Primo Chemicals as of 15-Oct-2026 is 55.01.
The latest P/B ratio of Primo Chemicals as of 15-Oct-2026 is 1.69.
The 52-week high of Primo Chemicals is ₹29.40 and the 52-week low is ₹16.21.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Primo Chemicals is ₹560 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Primo Chemicals Ltd is a average quality company.
The key valuation ratios of Primo Chemicals Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
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
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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