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10 Yrs X-Ray 
Valuation 
Analyst Note 
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About
Punjab Chemicals & Crop Protection Ltd (PUNJABCHEM)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506618 NSE: PUNJABCHEM Pesticides & Agrochemicals | Small Cap | Punjab Chem. & Corp. Share Price
₹1,074.25 5.10 (0.48%)
As on 18-Sep'26 16:59
Punjab Chemicals & Crop Protection Ltd (PUNJABCHEM)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506618 NSE: PUNJABCHEM Pesticides & Agrochemicals | Small Cap | Punjab Chem. & Corp. Share Price
₹1,074.25 5.10 (0.48%)
As on 18-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹1,317 Cr.
Current Price
₹1,074.3
52-Week Low / High
₹876 / 1,530
TTM EPS
₹53.3
TTM Sales
₹1,058 Cr.
Book Value per Share
₹363.4
P/E Ratio
20.14
Lower than its 5-year historical median
Industry PE
28.5
Price to Book (P/B)
2.96
Lower than its 5-year historical median
Price to Sales (P/S)
1.25
Lower than its 5-year historical median
EV/EBITDA
10.77
Lower than its 5-year historical median
Dividend Yield
0.28%
Profitability Efficiency
Return on Equity (ROE)
16.23%
Outperforms industry median
Return on Capital Employed (ROCE)
18.21%
Outperforms industry median
Return on Assets (ROA)
6.97%
Operating Profit Margin
11.8%
Net Profit Margin
6.21%
Gross Profit Margin
11.2%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
14.14%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
19.09%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
64.29%
Asset Quality
Promoter Holding
39.24%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹433 Cr.
Equity
₹12.3 Cr.
Face Value
₹10
All Time Low / High
₹7.92 / 1930.00
Check Before You Invest
Quality
Very GoodValuation
UndervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Punjab Chemicals & Crop Protection Ltd a good quality company?
Punjab Chemicals & Crop Protection Ltd is a good quality company, based on a consistently good 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 Punjab Chemicals & Crop Protection Ltd performance compare with that of its Peers?
Revenue growth of Punjab Chemicals & Crop Protection Ltd vs industry peers?
Punjab Chemicals & Crop Protection Ltd revenue CAGR is 8.71%, compared to the industry median CAGR of 1.96%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Punjab Chemicals & Crop Protection Ltd?
Promoters hold 39.24% of the Punjab Chemicals & Crop Protection Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Punjab Chemicals & Crop Protection Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 19.2% 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.
Punjab Chemicals & Crop Protection Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very 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 % ⓘ | 9.3% | 16.9% | 25.2% | 22.2% | 34.6% | 41.7% | 29.3% | 21.5% | 14% | 17.2% | - |
| Value Creation Index ⓘ | -0.3 | 0.2 | 0.8 | 0.6 | 1.5 | 2.0 | 1.1 | 0.5 | -0 | 0.2 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 411 | 488 | 640 | 548 | 676 | 931 | 1,004 | 931 | 898 | 1,025 | 1,053 |
| Sales YoY Gr. | - | 18.8% | 31.2% | -14.5% | 23.6% | 37.6% | 7.9% | -7.3% | -3.5% | 14.1% | - |
| Adj EPS ⓘ | 11.7 | 7 | 23.1 | 7.7 | 42.2 | 66.4 | 49.7 | 44.4 | 35.3 | 49.1 | 51.8 |
| YoY Gr. | - | -39.9% | 228.3% | -66.8% | 449.9% | 57.1% | -25.2% | -10.6% | -20.5% | 39.1% | - |
| BVPS (₹) ⓘ | 58.6 | 67 | 82.5 | 93.4 | 133.6 | 197.1 | 243.1 | 284.3 | 313.5 | 361.3 | 379.3 |
| Adj Net Profit ⓘ | 14.4 | 8.6 | 28.3 | 9.4 | 51.8 | 81.4 | 60.9 | 54.4 | 43.3 | 60.2 | 63 |
| Cash Flow from Ops. ⓘ | 47.9 | 58.1 | 69.5 | 32.5 | 47.1 | 31.9 | 56.7 | 29.2 | 22.6 | 98.9 | - |
| Debt/CF from Ops. ⓘ | 3 | 2 | 1.3 | 3.1 | 1.9 | 2.9 | 1.7 | 4.2 | 7.4 | 1.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 10.7% | 8.7% | 0.7% | 14.1% | ||||
| Adj EPS ⓘ | 17.3% | 3.1% | -0.4% | 39.1% | ||||
| BVPSⓘ | 22.4% | 22% | 14.1% | 15.2% | ||||
| Share Price | 19.2% | -8.8% | -0.2% | -17.3% | ||||
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 % ⓘ | 22.7 | 11.2 | 30.9 | 8.7 | 37.2 | 40.1 | 22.6 | 16.8 | 11.8 | 14.6 | 14 |
| Op. Profit Mgn % ⓘ | 6.9 | 7.8 | 10.8 | 7.5 | 14.2 | 15 | 12.2 | 12.1 | 11.1 | 11.6 | 11.6 |
| Net Profit Mgn % ⓘ | 3.5 | 1.8 | 4.4 | 1.7 | 7.7 | 8.7 | 6.1 | 5.9 | 4.8 | 5.9 | 6 |
| Debt to Equity ⓘ | 2 | 1.4 | 0.9 | 0.9 | 0.5 | 0.4 | 0.3 | 0.4 | 0.4 | 0.4 | - |
| Working Cap Days ⓘ | 147 | 128 | 109 | 148 | 140 | 132 | 155 | 191 | 233 | 230 | 95 |
| Cash Conv. Cycle ⓘ | 20 | 1 | 0 | 14 | 22 | 32 | 48 | 69 | 95 | 84 | 36 |
Valuation of Punjab Chem. & Corp. - 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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 525 | 493 | 643 | 550 | 678 | 933 | 1,006 | 934 | 901 | 1,030 |
| Operating Expenses ⓘ + | 510 | 452 | 577 | 507 | 583 | 794 | 884 | 821 | 801 | 912 |
| Operating Profit ⓘ | 15 | 42 | 66 | 42 | 96 | 140 | 123 | 113 | 99 | 118 |
| Operating Profit Margin (%) | 2.8% | 8.4% | 10.3% | 7.7% | 14.1% | 15.0% | 12.2% | 12.1% | 11.0% | 11.5% |
| Other Income ⓘ + | 13 | 11 | 7 | 13 | 2 | 1 | 3 | 3 | 1 | 14 |
| Interest ⓘ | 31 | 18 | 17 | 18 | 13 | 12 | 18 | 21 | 18 | 17 |
| Depreciation ⓘ | 16 | 14 | 19 | 15 | 15 | 17 | 19 | 22 | 25 | 29 |
| Profit Before Tax ⓘ | -19 | 24 | 29 | 22 | 69 | 112 | 89 | 73 | 54 | 84 |
| Tax ⓘ | 1 | 7 | 12 | 11 | 20 | 28 | 28 | 20 | 15 | 20 |
| Profit After Tax | -20 | 17 | 17 | 11 | 49 | 83 | 61 | 54 | 39 | 64 |
| PAT Margin (%) | -3.8% | 3.5% | 2.6% | 2.0% | 7.2% | 8.9% | 6.1% | 5.7% | 4.3% | 6.2% |
| Adjusted EPS (₹) | -16.3 | 14.0 | 13.7 | 8.8 | 40.0 | 68.1 | 49.8 | 43.7 | 31.8 | 52.2 |
| Dividend Payout Ratio (%) | 0% | 0% | 11% | 17.10% | 5% | 4.40% | 6% | 6.90% | 9.50% | 5.80% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 58 | 74 | 91 | 98 | 145 | 226 | 281 | 330 | 365 | 423 | |
| Debt + | 117 | 101 | 91 | 88 | 75 | 79 | 83 | 108 | 147 | 140 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 112 | 108 | 113 | 89 | 114 | 132 | 139 | 118 | 201 | 173 | |
| Others Liabilities ⓘ | 141 | 70 | 88 | 133 | 147 | 168 | 196 | 192 | 177 | 207 | |
| Total Liabilities ⓘ | 428 | 353 | 382 | 409 | 480 | 605 | 699 | 748 | 891 | 943 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 198 | 152 | 161 | 168 | 189 | 212 | 222 | 236 | 253 | 275 | |
| CWIP ⓘ | 6 | 4 | 7 | 15 | 16 | 7 | 20 | 12 | 14 | 19 | |
| Investments ⓘ | 27 | 26 | 20 | 1 | 1 | 1 | 2 | 8 | 4 | 2 | |
| Inventories | 64 | 67 | 82 | 86 | 101 | 154 | 168 | 133 | 222 | 246 | |
| Trade Receivables | 63 | 42 | 63 | 48 | 84 | 112 | 143 | 197 | 235 | 204 | |
| Cash Equivalents | 3 | 6 | 4 | 5 | 14 | 11 | 11 | 10 | 18 | 15 | |
| Others Assets ⓘ | 66 | 55 | 47 | 86 | 75 | 107 | 132 | 152 | 144 | 184 | |
| Total Assets ⓘ | 428 | 353 | 382 | 409 | 480 | 605 | 699 | 748 | 891 | 943 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 62 | 61 | 68 | 34 | 43 | 34 | 58 | 30 | 25 | 86 |
| Cash Flow From Investing Activity ⓘ + | -8 | -15 | -21 | -14 | -8 | -27 | -36 | -36 | -30 | -44 |
| Cash Flow From Financing Activity ⓘ + | -61 | -43 | -4 | -19 | -24 | -11 | -20 | 4 | 12 | -44 |
| Net Cash Flow ⓘ | -7 | 4 | 44 | 2 | 11 | -4 | 2 | -2 | 7 | -2 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -60.35 | 25.92 | 20.36 | 11.4 | 40.52 | 45.1 | 24.14 | 17.54 | 11.21 | 16.23 |
| ROCE (%) | 5.62 | 20.93 | 24.65 | 21.21 | 38.41 | 44.96 | 30.83 | 22.7 | 14.49 | 18.21 |
| Asset Turnover Ratio | 1.21 | 1.27 | 1.75 | 1.39 | 1.53 | 1.72 | 1.54 | 1.29 | 1.1 | 1.12 |
| PAT to CFO Conversion(x) | N/A | 3.59 | 4 | 3.09 | 0.88 | 0.41 | 0.95 | 0.56 | 0.64 | 1.34 |
| Working Capital Days | ||||||||||
| Receivable Days | 47.50 | 38.90 | 29.80 | 36.60 | 35.40 | 38.30 | 46.30 | 66.60 | 87.70 | 77.80 |
| Inventory Days | 41.40 | 48.30 | 42.20 | 55.80 | 50.50 | 49.90 | 58.40 | 58.80 | 71.90 | 82.90 |
| Payable Days | 111 | 136.10 | 101 | 113.70 | 91.40 | 78.70 | 77.80 | 82 | 108.30 | 110.60 |
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Punjab Chemicals & Crop Protection Ltd FAQs
The current trading price of Punjab Chem. & Corp. on 18-Sep-2026 16:59 is ₹1,074.3.
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 17-Sep-2026 the market cap of Punjab Chem. & Corp. stood at ₹1,317.3 Cr
The latest P/E ratio of Punjab Chem. & Corp. as of 17-Sep-2026 is 20.74.
The latest P/B ratio of Punjab Chem. & Corp. as of 17-Sep-2026 is 2.83.
The 52-week high of Punjab Chem. & Corp. is ₹1,530 and the 52-week low is ₹875.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Punjab Chem. & Corp. is ₹1,053 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Punjab Chemicals & Crop Protection Ltd is a good quality company.
The key valuation ratios of Punjab Chemicals & Crop Protection Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Punjab Chemicals & Crop Protection Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Punjab Chemicals & Crop Protection Ltd
Started in 1975 as Punjab United Pesticides & Chemicals Limited (PUPCL) has now evolved as Punjab Chemicals and Crop Protection Limited (Punjab Chemicals), uniting all its divisions - Agrotechnicals, Pharmaceuticals, Intermediates, Chemicals & International Trading, under one roof, by a combination of all companies into Punjab Chemicals in March 2006.
Presently, Punjab Chemicals has various state-of-the-art manufacturing sites which are located across India and have international standards with support from its R&D strengths and unparalleled Pilot Plant facilities, All are ISO 9001 & ISO 14001 certified. Punjab Chemicals produces various Agrotechnicals, API’s, Pharmaceutical Intermediates, Phosphorous Derivatives and Speciality Chemicals.
The overseas subsidiary- marketing company SD Ag chem (Europe), N.V., Belgium serves as immediate supply for company products from the doorstep of Europe. Punjab Chemicals having the ownership of the marketing registrations with the above companies is an added advantage.
Punjab Chemicals is committed to providing high-quality products of international standards which will endeavor to meet the requirements of today’s modern world by fulfilling the needs of clients in India and across the world spread over 5 continents. Today, more and more global companies are looking upto Punjab Chemicals as their preferred Indian partner whom they can trust.
Business area of the company
The company is engaged in business of manufacturing of agro chemicals, speciality chemicals and bulk drugs and its intermediates.
Business Unit
- Agro and Basic Chemicals - Derabassi
- Speciality and Other Chemicals - Lalru
- Industrial Chemicals - Pune
- International Trading - Mumbai
Products
- Agrochemicals
- Pharma API’s
- Pharma Intermediates
- Fine Chemicals & Speciality Chemicals
- Basic Chemicals & Industrial Chemicals
- Phosphorus Derivatives & Phosphates
- International Trading - Imports
Milestones
- 1975: The company’s founding year.
- 1983: The company diversified into Specialty Chemicals.
- 1995: The company further diversified into Agrochemicals.
- 2003: The company is engaged in an M&A with Alpha Drug Pharma.
- 2006: Integrated into one company: Punjab Chemicals.
- 2016: Modified business model to include Contact Manufacturing.
- 2016: Enhanced its capacity to manufacture Agrochemicals.
- 2021: Achieved highest EBITDA in 10 years i.e. Rs. 973 million.
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