Paushak share price & results
- Sept 2026
- Sept 2026
Paushak makes phosgene-based specialty chemical intermediates used by pharma and agrochemical manufacturers.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 89.0 | +50.8% YoY | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. |
| Operating margin | 30.0 | +5.0 pts YoY | Operating profit / revenue | Quarter to Sept 2026 | For the quarter; a change is in percentage points. |
| Net profit | 14.0 | +55.6% YoY | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. |
| Return on equity | 9.30 | −2.8 pts | Trailing twelve months | TTM to Sept 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -15.53 | +41.8 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 28.24 | +1.4 pts | Trailing twelve months | TTM to Sept 2026 | Revenue change against the same period one year earlier. |
Price
Performance −13.9% 1Y
1Y: ₹724.6 on 24 Oct 2025 → ₹623.9. High ₹826.35 (16 Oct 2026), low ₹344.9 (30 Mar 2026).
- Previous close
- ₹608.55
- Market cap
- ₹1.5k Cr
- 52-week range
- ₹344.9 – ₹826.35
- One year
- −12.55%
- Price to earnings (TTM to Sept 2026)
- 31.25×
- Return on equity (TTM to Sept 2026)
- 9.30%
Overview
- Symbol
- NSE:PAUSHAKLTD
- Sector
- Chemicals
- Industry
- Commodities
- Exchange
- NSE
- Currency
- INR
What Paushak Limited does
Based on the company's own presentations, annual report and earnings calls.
Paushak Limited, part of the Alembic Group, manufactures phosgene and phosgene-based specialty chemical intermediates and derivatives that serve as building blocks for pharmaceutical and agrochemical manufacturers. The company operates from a single manufacturing facility at Panelav, Taluka Halol, in Panchmahal district, Gujarat, where it is building a new multipurpose plant and an R&D complex to replace legacy production lines and add new derivative streams. It has no subsidiaries or joint ventures, functioning as a standalone specialty-chemicals manufacturer.
- Manufacturing facilities
- 1
- Manufacturing facility location
- Panelav, Taluka Halol, District Panchmahal, Gujarat
- Subsidiaries / joint ventures
- None — standalone operations
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +56% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 49 | 52 | 56 | 59 | 49 | 55 | 84 | 89 |
| Expenses | 35 | 36 | 38 | 44 | 37 | 38 | 58 | 63 |
| Operating profit | 15 | 16 | 18 | 15 | 11 | 17 | 26 | 26 |
| Operating margin | 30.0% | 30.0% | 32.0% | 25.0% | 23.0% | 30.0% | 31.0% | 30.0% |
| Other income | 6 | 0 | 2 | 1 | 1 | 8 | 3 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Depreciation | 4 | 4 | 4 | 4 | 5 | 8 | 8 | 8 |
| Profit before tax | 17 | 12 | 16 | 11 | 7 | 16 | 19 | 19 |
| Tax rate | 11.0% | 21.0% | 23.0% | 24.0% | 17.0% | 22.0% | 21.0% | 27.0% |
| Net profit | 15 | 10 | 12 | 9 | 6 | 13 | 15 | 14 |
| EPS (₹ per share) | 6.20 | 3.90 | 4.89 | 3.50 | 2.50 | 5.07 | 6.12 | 5.48 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 212 | 207 | 210 | 219 |
| Expenses | 138 | 142 | 151 | 157 |
| Operating profit | 75 | 64 | 60 | 61 |
| Other income | 11 | 21 | 14 | 12 |
| Interest | 0 | 0 | 0 | 1 |
| Depreciation | 13 | 13 | 16 | 21 |
| Profit before tax | 73 | 71 | 58 | 50 |
| Net profit | 54 | 54 | 49 | 40 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 3 | 3 | 3 | 3 | 12 | 12 |
| Reserves | 351 | 405 | 462 | 477 | 479 | 504 |
| Borrowings | 0 | 0 | 25 | 60 | 77 | 68 |
| Other liabilities | 61 | 73 | 81 | 80 | 92 | 100 |
| Total liabilities | 415 | 481 | 572 | 620 | 660 | 684 |
| Fixed assets | 149 | 152 | 141 | 183 | 377 | 375 |
| Capital work in progress | 7 | 29 | 190 | 205 | 26 | 16 |
| Investments | 182 | 223 | 139 | 131 | 150 | 168 |
| Other assets | 78 | 77 | 102 | 100 | 107 | 126 |
| Total assets | 415 | 481 | 572 | 620 | 660 | 684 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 30 | 44 | 43 | 56 | 38 | 54 |
| Cash from investing | -29 | -42 | -38 | -50 | -57 | -95 |
| Cash from financing | -2 | -2 | -4 | -5 | 19 | 42 |
| Net cash flow | -1 | 0 | 0 | 0 | -1 | 0 |
| Free cash flow | -26 | -4 | 28 | 17 | -122 | -34 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 85 | 97 | 90 | 90 | 94 | 92 |
| Inventory days | 148 | 233 | 180 | 177 | 179 | 292 |
| Days payable | 118 | 227 | 122 | 130 | 167 | 245 |
| Cash conversion cycle | 115 | 103 | 149 | 137 | 107 | 139 |
| Working capital days | 60 | 81 | 93 | 84 | 80 | 64 |
| Return on capital employed | 20.0% | 17.0% | 21.0% | 17.0% | 11.0% | 8.0% |
| Dividend payout | 5.0% | 10.0% | 10.0% | 11.0% | 12.0% | 16.0% |
What the price assumes
Growth trapTo justify its price of ₹624, this stock must grow earnings at 24% every year for 7 years. Our analysis caps realistic growth at ~-10%. At that growth it is worth ₹102 — downside of 84%.
- Growth the price implies
- 23.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -9.6% a year
- net profit, FY23–FY26 · EPS -10.1%
- The gap
- 0.3 pp
- -84% downside if it only repeats history
Ownership
Who owns it
Promoters hold 67.28% as of Sept 2026; institutions added 0.32 pts since Jun 2026.
- Promoters 67.28%
- Foreign institutions 0.11%
- Domestic institutions 0.27%
- Public 32.35%
Who is on the register
Named in the Sep 2026 filing
Every holder of Paushak Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 41.15% | unchanged | |
| 19.07% | unchanged | |
| 4.07% | unchanged | |
| 2.91% | unchanged | |
| 1.22% | unchanged | |
| 0.92% | unchanged | |
| 0.84% | unchanged | |
| 0.84% | unchanged | |
| 0.31% | unchanged | |
| 0.01% | unchanged | |
| 0.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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