MarketFriction

Primo Chemicals Ltd

NSE PRIMO · BSE 506852 · Commodity Chemicals
₹25.41 -4.62%
NSE close2026-10-01
52 week range16.10 - 29.80
Market cap₹663 Cr.
P/E42.4
ASM short-term Price band 20% Delivery 59.0%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales93.2091.43102.48121.93134.36143.85155.42141.94134.74140.14144.86140.28
Expenses97.5588.64101.05106.82123.76125.20131.44121.55119.44126.56125.84119.48
Operating Profit-4.352.791.4315.1110.6018.6523.9820.3915.3013.5819.0220.80
OPM %-4.67%3.05%1.40%12.39%7.89%12.96%15.43%14.37%11.36%9.69%13.13%14.83%
Other Income4.843.705.425.875.864.744.415.274.464.225.665.24
Interest4.385.015.785.605.675.955.785.464.824.343.883.69
Depreciation9.0110.2811.5712.3413.2213.0212.5213.1113.2313.2512.9813.49
Profit before tax-12.90-8.80-10.503.04-2.434.4210.097.091.710.217.828.86
Tax %5.19%74.32%-164.57%485.20%-645.68%56.56%111.10%56.84%-61.40%261.90%34.91%58.92%
Net Profit-12.94-15.197.09-11.2512.932.29-0.414.084.161.056.074.68
EPS in Rs-0.53-0.630.29-0.460.530.09-0.020.170.170.040.250.19
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales223449701392549558560
Expenses235362508385481489491
Operating Profit-12871927686869
OPM %-6%19%27%1.8%12%12%12%
Other Income55152619212020
Interest59818231817
Depreciation17172440515353
Profit before tax2076186-31151719
Tax %59%25%28%-18%85%37%
Net Profit859137-2541516
EPS in Rs0.532.445.67-1.050.150.630.65
Dividend Payout %0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%20%-7%-3%
Compounded Profit Growth%14%-52%-17%
Stock Price CAGR24%1%-23%13%
Return on Equity%11%-1%4%
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital314848484848
Reserves66228364339342358
Borrowings161145178169131
Other Liabilities148141174149181155
Total Liabilities246478731714741692
Fixed Assets156155278468497469
CWIP35177213491012
Investments03359596165
Other Assets55114181138173145
Total Assets246478731714741692
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity5370150146465
Cash from Investing Activity-24-191-233-56-43-18
Cash from Financing Activity-341378121-22-46
Net Cash Flow-516-3-21-01
Free Cash Flow29-86-33-512639
CFO/OP-421%97%95%397%94%97%
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days272627332821
Inventory Days528447106104114
Days Payable231216112147195115
Cash Conversion Cycle-152-106-38-8-6320
Working Capital Days-160-47-31-89-67-59
ROCE %39%43%-2%7%6%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters31.36%31.36%31.35%31.35%31.35%31.35%31.35%31.35%31.35%32.40%32.40%32.40%
FIIs2.11%1.78%0.73%0.23%0.11%0.12%0.11%0.11%0.08%0.08%0.09%0.32%
DIIs1.92%1.92%1.92%1.92%1.92%1.92%1.92%1.92%1.92%1.92%1.92%1.92%
Public64.62%64.96%65.99%66.50%66.61%66.61%66.61%66.61%66.65%65.61%65.61%65.36%
No. of Shareholders40,94742,40345,39845,32452,60951,48150,40450,06549,93049,27247,99748,308

Fundamentals

Market Cap₹ 663 Cr.
Current Price₹ 27.4
Stock P/E42.4
Book Value₹ 16.8
ROCE6.40 %
ROE3.78 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)-3%
Compounded Profit Growth (TTM)-17%
Consolidated figures.
Valuation
Market capRs 617 Cr
Enterprise valueRs 653 Cr
P/E (TTM)38.64x
Price to book2.23x
Price to sales1.10x
EV / EBITDA7.39x
EV / EBIT18.48x
EV / sales1.17x
Price to cash flow8.78x
Earnings yield2.59%
Profitability
Operating margin (excl. other income)19.31%
Operating margin (incl. other income)22.68%
EBITDA margin15.76%
Pre-tax margin3.32%
Net profit margin2.85%
Net margin, latest quarter3.34%
ROE31.75%
ROCE38.80%
ROA16.36%
ROIC (approx.)8.49%
Tax rate24.91%
Other income / net worth5.48%
Growth
Sales growth (latest year)101.68%
Profit growth (latest year)618.57%
Sales growth QoQ-3.16%
Profit growth QoQ-22.90%
Sales growth YoY (latest quarter)-1.17%
Profit growth YoY (latest quarter)14.71%
Per share
EPS (TTM)Rs 0.66
EPS (latest year)Rs 2.44
EPS (latest quarter)Rs 0.19
Book value per shareRs 11.38
Sales per shareRs 23.07
Cash flow per shareRs 2.89
Free cash flow per shareRs 1.61
Efficiency
Asset turnover0.94x
Fixed asset turnover2.90x
Inventory turnover14.94x
Inventory days24 days
Debtor days26 days
Debtors turnover13.79x
Creditor days115 days
Cash conversion cycle20 days
Working capital days-59 days
Leverage
Total debtRs 61 Cr
Cash and bankRs 25 Cr
Net debtRs 36 Cr
Debt to equity0.22x
Net debt / EBITDA0.41x
Interest coverage2.11x
Current ratio (filing 2026-03-31)0.56x
Quick ratio (filing 2026-03-31)0.39x
Trade payables (filing 2026-03-31)Rs 33 Cr
Owners' fund to total sources57.76%
Debt to assets12.80%
Cash flow
Cash from Operating Activity (latest year)Rs 70 Cr
Cash from Investing Activity (latest year)Rs -191 Cr
Cash from Financing Activity (latest year)Rs 137 Cr
Net Cash Flow (latest year)Rs 16 Cr
Free cash flow (latest year)Rs 39 Cr
FCFE (approx.: FCF + change in debt)Rs 100 Cr
Cash from ops / profit, 5 years1.91x
Sales to cash flow6.39x
Statement figures
Net sales (TTM)Rs 560 Cr
Net sales (latest year)Rs 449 Cr
Sales (latest quarter)Rs 140 Cr
Operating profit excl. other income (latest year)Rs 87 Cr
Operating profit (latest quarter)Rs 21 Cr
Other income (TTM)Rs 20 Cr
EBITDA (TTM)Rs 88 Cr
PBDT (TTM)Rs 72 Cr
Profit before tax (TTM)Rs 19 Cr
Tax (latest year)Rs 19 Cr
Net profit (TTM)Rs 16 Cr
Net profit (latest year)Rs 59 Cr
Net profit (latest quarter)Rs 5 Cr
Depreciation (TTM)Rs 53 Cr
Depreciation (latest quarter)Rs 13 Cr
Interest (TTM)Rs 17 Cr
Cost of goods sold (latest year)Rs 255 Cr
Total expenditure (latest year)Rs 362 Cr
Total income (latest year)Rs 464 Cr
Share capitalRs 48 Cr
ReservesRs 228 Cr
Shareholders' fundsRs 276 Cr
Total assetsRs 478 Cr
Net blockRs 155 Cr
Capital work in progressRs 177 Cr
InvestmentsRs 33 Cr
ReceivablesRs 33 Cr
InventoryRs 17 Cr
Other liabilitiesRs 141 Cr
Shares outstanding (crore)24.27
Ownership
Promoter holding32.40% (+1.05 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
PeriodPRIMONifty 50Difference
1 week+14.0%-2.8% +16.8 pts
1 month+19.5%-6.8% +26.3 pts
3 months+3.9%-7.6% +11.5 pts
6 months+40.9%+0.4% +40.5 pts
1 year+0.8%-9.9% +10.7 pts
3 years-56.9%+14.2% -71.0 pts
5 years-4.2%+27.9% -32.1 pts
1 mutual fund schemes hold about ₹10 Cr. Over three months 0 bought more and 1 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Quant Small Cap Fund0.03%10 -24%

Red flags

F-score 6 of 8
lookShare dilution Share count up 56% in a year
lookAuditor change Auditor change 2025-11-14: Primo Chemicals Limited has informed the Exchange regarding Change in Auditors of the company.
lookOn NSE surveillance On NSE surveillance: ASM short-term
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹140 Cr -1.2% vs Jun 2025. Net profit ₹5 Cr +14.7%.

Activity

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No bulk or block deals on record.
No corporate actions on record.
DateTypeWhat it says
2026-10-01Shareholder meetingVoting results.
2026-09-30Credit RatingCredit Rating
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
2026-09-28Board meeting outcomeOutcome of Board Meeting held on September 25, 2026.
2026-09-25Amalgamation/MergerAmalgamation/Merger
2026-09-25Board meeting outcomeOutcome of Board Meeting held on September 25, 2026.
2026-09-24Disclosure of material issuePrimo Chemicals Limited has informed regarding Disclosure of material issue
2026-09-16UpdatesUpdate on acquisition of Balance 51%Equity Stake in Flow Tech Chemicals Private Limited..
2026-09-08General UpdatesGeneral Updates
2026-09-08General UpdatesGeneral Updates
2026-08-31Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-08-31Record DateRecord date for the purpose of Meeting is 23-Sep-2026.
2026-08-14Board meeting outcomeOutcome of Board Meeting held on August 14, 2026.
2026-08-14Board meeting outcomePrimo Chemicals Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-06Shareholder meetingVoting results.
2026-07-22Credit RatingCredit Rating
2026-07-06Shareholder meetingNotice of Postal Ballot
2026-07-02Board meeting outcomeOutcome of Board Meeting held on July 02, 2026.
2026-06-26Credit Rating- NewCredit Rating- New
2026-06-15Disclosure under SEBI TakeovPrimo Chemicals Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Subst...
2026-06-12Disclosure under SEBI TakeovSukhbir Singh Dahiya, Jagbir Singh Ahlawat, Jatin Dahiya has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities a...
2026-06-04General UpdatesGeneral Updates
2026-05-15Disclosure of material issuePrimo Chemicals Limited has informed regarding Disclosure of material issue
2026-05-05ResignationResignation of Director/KMP/SMP
2026-05-05Board meeting outcomeOutcome of Board Meeting held on May 05, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Short Term Additional Surveillance Measure (Short Term ASM): stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03