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    Chemicals - Specialty
Primo Chemicals Limited

Primo Chemicals Limited

PRIMO.BO
Primo Chemicals LimitedIN flagBombay Stock Exchange
24.08
INR
-0.34
- -
5.84BMarket Cap
Primo Chemicals Limited
PRIMO.BO
(Bombay Stock Exchange)

Recent

price

24.08

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
16.92
23.04
27.81
25.84
26.01
23.56
22.95
24.63
27.69
21.37
16.32
20.04
29.19
16.38
23.41
23.02
22.66
Revenue per Share
-2.37
0.43
0.27
-0.93
-1.26
-1.39
-2.08
-0.36
4.12
0.65
0.59
2.61
5.67
-1.05
0.15
0.63
0.62
Basic EPS, GAAP
- -
2.42
4.17
0.72
0.22
2.21
0.7
3.15
3.76
1.92
3.76
2.93
-1.35
-2.23
1.02
1.58
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-2.3
-1.87
-1.59
-2.53
-3.81
-5.23
-6.1
-5.61
-1.56
-0.88
0.12
3.48
8.94
7.91
8.25
1.99
1.96
Book Value per Share
10.2
10.19
10.05
8.55
6.94
5.2
3.32
2.68
4.81
5.18
6.96
12.19
17.02
15.97
16.46
16.65
16.39
Tangible Book Value per Share
102
103
103
103
102
102
117
135
136
136
139
227
242
242
237
244
248
Basic Weighted Avg Shares
1,734
2,362
2,856
2,649
2,665
2,411
2,681
3,336
3,757
2,904
2,263
4,541
7,074
3,970
5,556
5,617
5,617
Sales/Revenue/Turnover
-8.77
7.24
3.49
-3.6
-4.64
-4.29
-8.13
7.47
17.06
4.21
10.69
18.6
27.88
-3.69
3.1
2.8
2.8
Operating Margin (%)
108
106
108
79
50
50
51
57
112
99
156
162
225
367
481
502
526
Depreciation Expense
-243
44
28
-96
-129
-142
-243
-48
559
88
82
592
1,374
-253
36
154
154
Net Income, GAAP
- -
32.87
31.28
- -
- -
- -
- -
- -
4.93
51.55
58.96
24.91
28.16
- -
84.44
37.21
37.21
Effective Tax Rate (%)
-14
1.86
0.99
-3.61
-4.85
-5.91
-9.07
-1.45
14.87
3.03
3.64
13.04
19.42
-6.38
0.64
2.74
2.74
Profit Margin (%)
-48
163
3
-116
-616
-341
-619
-574
-212
-1,097
-896
-320
-283
-945
-931
-856
-856
Working Capital
788
755
485
436
- -
429
277
273
279
- -
4
531
1,236
1,072
805
575
575
LT Debt
1,045
1,045
1,032
876
711
532
390
365
654
705
966
2,763
4,125
3,870
3,907
4,062
4,062
Total Equity
- -
6.17
4.18
- -
- -
- -
- -
- -
78.92
6.09
9.95
28.43
30.57
- -
0.48
1.8
1.8
Return on Invested Capital (%)
- -
18.61
17.61
- -
- -
- -
- -
- -
-320.57
87.64
109.44
92.48
57.11
- -
1.94
9.91
9.91
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
147.09
93.01
-12.4
1.84
12.58
12.58
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
904
- -
737
LT Borrowings
710
- -
569
LT Finance Leases
3
- -
5
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
242
- -
242
Market Capitalization
5,834
5,932
4,501

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
1,362
- -
1,080
Cash, Cash Equivalents & STI
139
- -
107
Accounts Receivable, Net
486
- -
318
Inventories
396
- -
330
Total Current Liabilities
2,312
- -
1,936
Payables & Accruals
- -
- -
- -
ST Debt
904
- -
737
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
32.5%
46.79%
3.95%
Free Cash Flow
28.75%
-28.44%
59.25%
Net Income, GAAP
-50.84%
170.04%
331.79%
Sales/Revenue/Turnover
15.7%
30.71%
1.1%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,099
932
914
1,025
3,970
2025
1,219
1,344
1,438
1,554
5,556
2026
1,419
1,347
1,401
1,449
5,617

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.18
-0.53
-0.63
- -
-1.05
2025
-0.46
0.53
0.09
-0.02
0.15
2026
0.17
0.17
0.04
0.25
0.63

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Primo Chemicals Limited manufactures and sells caustic soda and related chemicals in India. The company produces caustic soda lye and flakes for applications in paper and pulp, soap and detergents, textiles, dyes, aluminum, viscose rayon, and water demineralization; liquid chlorine for water treatment, paper manufacturing, stable bleaching powder, CPVC, PVC, chloromethane, and other chlororganic chemicals; hydrochloric acid for water demineralization in power and fertilizer plants, metal pickling, and metal chlorides; sodium hypochlorite for textile bleaching, laundry, and drinking water disinfection; hydrogen gas for hydrogenation of vegetable oils, optical fiber units, power plant cooling, and fuel; stable bleaching powder for water treatment, aquaculture, textiles, oxidizing, and disinfecting; and aluminum chloride for water treatment, paper sizing, dye decolorization, and sewage treatment. Primo Chemicals Limited, formerly Punjab Alkalies & Chemicals Limited until its name change in December 2022, was founded in 1975 and is headquartered in Chandigarh, India, with manufacturing facilities in Naya Nangal, Punjab. The company operates as the largest caustic soda producer in northern India, with a combined annual capacity of 165,000 tons utilizing advanced Hoechst-Uhde membrane cell technology, and serves industries including paper, textiles, detergents, and FMCG across northern and other regions of the country. Recent developments include the expansion of caustic soda capacity from 300 to 500 tons per day in 2022; acquisition of a 49% stake in Flow Tech Chemicals Private Limited in 2022 and approval in 2025 to acquire the remaining 51% stake to produce chlorinated paraffin and hydrochloric acid; commissioning of a 100 tons per day stable bleaching powder plant, 50 tons per day aluminum chloride plant, 200 tons per day caustic soda flaker, and 35 MW captive power plant in 2023; receipt of Punjab Pollution Control Board approval for 26 new products; and a 10-year coal supply agreement with Northern Coalfields Limited to support the power plant.