Primo Chemicals Ltd.

•

primochemicals.inBSE: 506852NSE: PRIMO

Market Cap₹ 509 Cr.

Current Price

High / Low₹ 27 / 16

Stock P/E45.6

Book Value₹ 15

Price to Book1.48

Dividend Yield0.00 %

ROCE7.4 %

ROE0.7 %

Face Value₹ 2

Add ratio to table

ABOUT

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.06x)
Company maintains a comfortable, low leverage position

CONS

A large part of profit comes from other income (138.2% of PBT)
Interest coverage is weak at 1.7x - earnings barely cover interest
Company has delivered a poor profit growth of -23.2% over past five years
Operating margins have contracted to 12.3% from 22.4%
Growth is decelerating - 3Y profit CAGR (-65.4%) trails the 5Y trend (-23.2%)
Company's return on assets is weak at 0.3%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsChemicals

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SOLARINDS	20550.00	93.38	185957.06	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1636.40	62.88	166565.83	1.31	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2597.00	35.61	76981.53	0.35	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4731.25	84.51	51972.78	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8538.25	55.47	43808.15	0.18	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1138.55	32.62	38352.18	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1733.65	30.19	23645.78	0.43	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1646.05	92.89	21847.67	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6484.40	24.00	19091.21	0.46	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	505.45	34.53	18334.02	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1417.10	18.24	17949.40	0.71	490.04	100.95	3256.26	22.47	12.12	25.96
12.	PRIMO	20.99	31.84	508.68	0.00	4.68	14.86	140.28	-1.17	7.30	15.57

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	110	93	91	102	122	134	144	155	142	135	140	145	140
	103	98	89	101	107	124	125	131	122	119	127	126	137
Operating Profit	7	-4	3	1	15	11	19	24	20	15	13	19	21
OPM %	6.43%	-4.67%	3.05%	1.40%	12.39%	7.89%	12.96%	15.42%	14.37%	11.35%	9.40%	13.14%	14.83%
Other Income	5	5	4	5	6	6	5	4	5	4	4	6	5
Interest	3	4	5	6	6	6	6	6	5	5	4	4	4
Depreciation	9	9	10	12	12	13	13	13	13	13	13	13	13
	1	-13	-9	-10	3	-2	4	10	7	2	0	8	9
Tax %	576.92%	-5.19%	-74.43%	164.57%	485.20%	645.68%	56.56%	111.10%	56.84%	-61.76%	261.90%	34.91%	58.93%
Net Profit	-4	-14	-15	7	-12	13	2	-1	3	3	-0	5	4
	-0	-1	-1	0	-0	1	0	-0	0	0	-0	0	0
Equity Capital	48	48	48	48	48	48	48	48	48	48	48	48	48
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	241	268	334	376	290	226	454	707	397	556	560
	249	284	305	297	274	239	367	515	390	487	509
Operating Profit	-2	-13	36	83	37	43	102	219	26	89	—
OPM %	-1	-5	11	22	13	19	22	31	7	16	—
Other Income	5	3	7	5	21	55	15	26	19	21	20
Interest	5	4	20	8	5	5	9	8	18	23	17
Depreciation	7	8	9	16	13	17	17	24	40	51	53
	-14	-24	-5	59	18	20	76	186	-31	15	19
Tax %	0	0	0	5	52	59	25	28	18	84	40
Net Profit	-14	-24	-5	56	9	8	57	134	-26	2	11
EPS	-7	-10	-2	21	3	3	2	6	-1	0	—
Dividend Payout %	0	0	0	0	0	0	0	0	0	0	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	-1	-2	-0	4	1	1	2	6	-1	0	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 14%
3 Years:: 7%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: -23%
3 Years:: -65%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -19%

RETURN ON EQUITY

10 Years:: 34%
5 Years:: 19%
3 Years:: 13%
Last Year:: 1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	20	27	27	27	27	31	48	48	48	48
	33	12	9	38	43	66	225	358	332	335
	1	2	3	2	32	0	8	21	43	60
Trade Payables	29	26	21	30	31	28	44	43	31	64
	98	112	140	119	91	121	160	283	253	228
Total Liabilities	182	180	201	217	225	246	486	754	708	735
ASSETS	-	-	-	-	-	-	-	-	-	-
	114	111	106	89	168	156	155	278	468	497
Capital Work in Progress	2	5	5	16	15	35	177	213	49	10
	0	0	0	0	0	0	30	53	53	53
	11	8	9	8	8	6	17	18	22	34
	0	0	0	0	0	0	0	0	35	43
Cash & Bank	21	19	55	70	12	8	25	31	1	8
	34	37	26	33	22	41	82	161	79	90
Total Assets	182	180	201	217	225	246	486	754	708	735
Total Debt	44	30	30	30	32	1	61	144	176	168
Net Working Capital	-30	-62	-57	-21	-110	-90	-32	-28	-94	-93
Contingent Liabilities	16	13	16	108	10	14	32	84	32	35
Book Value per Share	-12.02	-14.79	10.40	7.55	11.00	18.78	9.70	14.97	14.03	14.28
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	2.00	2.00	2.00	2.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	23	9	43	54	27	53	70	150	14	64
Cash from Investing	-3	-11	-3	-36	-82	-24	-191	-233	-56	-43
Cash from Financing	-6	-0	-4	-3	-3	-34	137	81	21	-22
	13	-2	36	16	-58	-5	16	-3	-21	-0
Free Cash Flow	22	0	40	36	-18	30	-85	-33	-48	48
OCF / Net Profit	-1.59	-0.35	-8.94	0.97	3.10	6.41	1.24	1.12	-0.53	27.39
Cumulative 5-Year FCF	0	0	0	0	80	88	3	-70	-154	-88

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	-6.95	-8.97	-1.78	20.61	3.25	2.65	2.34	5.53	-1.07	0.10
Book Value (₹)	-12.02	-14.79	10.40	7.55	11.00	18.78	9.70	14.97	14.03	14.28
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	-0.66	-1.20	0.32	5.32	1.62	1.65	3.06	6.52	0.57	2.21
PROFITABILITY
Operating Margin %	-0.79%	-4.20%	10.47%	22.13%	12.57%	18.88%	22.42%	30.89%	1.74%	12.30%
Net Margin %	-5.23%	-8.03%	-1.41%	14.87%	3.03%	3.64%	12.49%	18.94%	-6.51%	0.42%
ROE %	0.00%	0.00%	-17.33%	229.54%	35.01%	18.68%	38.67%	44.82%	-7.36%	0.69%
ROCE %	-31.89%	-424.48%	26.70%	122.63%	41.59%	42.21%	47.55%	48.46%	-2.58%	7.40%
	-8.10%	-13.44%	-2.54%	26.77%	3.99%	3.50%	15.51%	21.61%	-3.54%	0.33%
EFFICIENCY
Debtor Days	8	6	5	5	7	18	20	22	40	26
Inventory Days	13	11	9	8	10	11	9	9	19	18
Payable Days	244	234	180	158	229	245	176	113	176	145
	-223	-217	-166	-144	-211	-216	-147	-82	-118	-101
FINANCIAL HEALTH
Debt to Equity (x)	-1.80x	-0.75x	1.07x	1.48x	1.06x	0.01x	0.26x	0.40x	0.52x	0.49x
Interest Coverage (x)	-2.07x	-5.94x	0.76x	8.24x	4.52x	4.76x	9.56x	24.11x	-0.73x	1.66x
	0.65x	0.44x	0.58x	0.83x	0.23x	0.31x	0.77x	0.86x	0.52x	0.61x
GROWTH
Revenue Growth %	-9.52%	11.18%	24.44%	12.62%	-22.71%	-22.05%	100.61%	55.79%	-43.88%	39.95%
Operating Profit Growth %	49.49%	-488.39%	381.39%	132.14%	-56.09%	17.03%	138.27%	114.61%	-87.95%	238.74%
Net Profit Growth %	-10.20%	-70.69%	80.17%	1258.45%	-84.24%	-6.45%	588.64%	136.21%	-119.30%	109.10%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-119.30%	109.10%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	218.23x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.43x	1.48x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	38.00x	7.55x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	31.35	31.35	31.35	31.35	31.35	31.35	32.40	32.40	32.40
	0.22	0.10	0.11	0.10	0.10	0.07	0.07	0.08	0.31
	1.92	1.92	1.92	1.92	1.92	1.92	1.92	1.92	1.92
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	66.50	66.61	66.60	66.61	66.62	66.65	65.61	65.60	65.36

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Copy of Newspaper Publication

2026-09-01 - Primo Chemicals Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-31

Shareholders meeting

2026-08-31 - Primo Chemicals Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026

2026-08-31

Record Date

2026-08-31 - Primo Chemicals Limited has informed the Exchange that Record date for the purpose of Meeting is 23-Sep-2026.

2026-08-18

Copy of Newspaper Publication

2026-08-18 - Primo Chemicals Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

Outcome of Board Meeting

2026-08-14 - Primo Chemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on August 14, 2026.

2026-08-14

Outcome of Board Meeting

2026-08-14 - Primo Chemicals Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-06

Shareholders meeting

2026-08-06 - Primo Chemicals Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.

2026-08-05

Copy of Newspaper Publication

2026-08-05 - Primo Chemicals Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-22

Credit Rating

2026-07-22 - Primo Chemicals Limited has informed the Exchange about Credit Rating

News

Recent coverage and analyst commentary for PRIMO

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Name

SOLARINDS

20550.00

93.38

185957.06

0.05

666.37

88.98

3668.20

70.26

38.16

27.91

PIDILITIND

1636.40

62.88

166565.83

1.31

8835.10

1202.86

45515.50

1112.74

32.38

26.28

SRF

2597.00

35.61

76981.53

0.35

758.87

75.53

5033.26

34.63

14.21

24.57

FLUOROCHEM

4731.25

84.51

51972.78

0.06

219.00

19.02

1588.00

23.97

9.58

26.83

NAVINFLUOR

8538.25

55.47

43808.15

0.18

243.31

107.67

1045.08

44.07

21.39

34.17

GODREJIND

1138.55

32.62

38352.18

0.00

523.36

-27.85

5448.09

22.16

10.64

12.82

DEEPAKNTR

1733.65

30.19

23645.78

0.43

345.01

207.36

2577.60

36.39

11.58

20.96

AETHER

1646.05

92.89

21847.67

0.00

62.75

33.45

326.56

27.49

11.65

31.47

ATUL

6484.40

24.00

19091.21

0.46

253.93

91.85

1847.95

25.03

15.05

21.41

AARTIIND

505.45

34.53

18334.02

0.20

155.00

260.47

2387.00

42.42

6.95

16.00

DEEPAKFERT

1417.10

18.24

17949.40

0.71

490.04

100.95

3256.26

22.47

12.12

25.96

PRIMO

20.99

31.84

508.68

0.00

4.68

14.86

140.28

-1.17

7.30

15.57

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

110

102

122

134

144

155

142

135

140

145

140

103

101

107

124

125

131

122

119

127

126

137

Operating Profit

-4

OPM %

6.43%

-4.67%

3.05%

1.40%

12.39%

7.89%

12.96%

15.42%

14.37%

11.35%

9.40%

13.14%

14.83%

Other Income

Interest

Depreciation

-13

-9

-10

-2

Tax %

576.92%

-5.19%

-74.43%

164.57%

485.20%

645.68%

56.56%

111.10%

56.84%

-61.76%

261.90%

34.91%

58.93%

Net Profit

-4

-14

-15

-12

-1

-0

-1

-0

Equity Capital

Reserves

Promoter Pledge %

0.00%

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

241

268

334

376

290

226

454

707

397

556

560

249

284

305

297

274

239

367

515

390

487

509

Operating Profit

-2

-13

102

219

—

OPM %

-1

-5

—

Other Income

Interest

Depreciation

-14

-24

-5

186

-31

Tax %

Net Profit

-14

-24

-5

134

-26

EPS

-7

-10

-2

-1

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

-1

-2

-0

-1

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

LIABILITIES

Equity Capital

225

358

332

335

Trade Payables

112

140

119

121

160

283

253

228

Total Liabilities

182

180

201

217

225

246

486

754

708

735

ASSETS

114

111

106

168

156

155

278

468

497

Capital Work in Progress

177

213

Cash & Bank

161

Total Assets

182

180

201

217

225

246

486

754

708

735

Total Debt

144

176

168

Net Working Capital

-30

-62

-57

-21

-110

-90

-32

-28

-94

-93

Contingent Liabilities

108

Book Value per Share

-12.02

-14.79

10.40

7.55

11.00

18.78

9.70

14.97

14.03

14.28

Face Value

10.00

2.00

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

150

Cash from Investing

-3

-11

-3

-36

-82

-24

-191

-233

-56

-43

Cash from Financing

-6

-0

-4

-3

-34

137

-22

-2

-58

-5

-3

-21

-0

Free Cash Flow

-18

-85

-33

-48

OCF / Net Profit

-1.59

-0.35

-8.94

0.97

3.10

6.41

1.24

1.12

-0.53

27.39

Cumulative 5-Year FCF

-70

-154

-88

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

-6.95

-8.97

-1.78

20.61

3.25

2.65

2.34

5.53

-1.07

0.10

Book Value (₹)

-12.02

-14.79

10.40

7.55

11.00

18.78

9.70

14.97

14.03

14.28

Dividend per Share (₹)

0.00

Cash EPS (₹)

-0.66

-1.20

0.32

5.32

1.62

1.65

3.06

6.52

0.57

2.21

PROFITABILITY

Operating Margin %

-0.79%

-4.20%

10.47%

22.13%

12.57%

18.88%

22.42%

30.89%

1.74%

12.30%

Net Margin %

-5.23%

-8.03%

-1.41%

14.87%

3.03%

3.64%

12.49%

18.94%

-6.51%

0.42%

ROE %

0.00%

-17.33%

229.54%

35.01%

18.68%

38.67%

44.82%

-7.36%

0.69%

ROCE %

-31.89%

-424.48%

26.70%

122.63%

41.59%

42.21%

47.55%

48.46%

-2.58%

7.40%

-8.10%

-13.44%

-2.54%

26.77%

3.99%

3.50%

15.51%

21.61%

-3.54%

0.33%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

244

234

180

158

229

245

176

113

176

145

-223

-217

-166

-144

-211

-216

-147

-82

-118

-101

FINANCIAL HEALTH

Debt to Equity (x)

-1.80x

-0.75x

1.07x

1.48x

1.06x

0.01x

0.26x

0.40x

0.52x

0.49x

Interest Coverage (x)

-2.07x

-5.94x

0.76x

8.24x

4.52x

4.76x

9.56x

24.11x

-0.73x

1.66x

0.65x

0.44x

0.58x

0.83x

0.23x

0.31x

0.77x

0.86x

0.52x

0.61x

GROWTH

Revenue Growth %

-9.52%

11.18%

24.44%

12.62%

-22.71%

-22.05%

100.61%

55.79%

-43.88%

39.95%

Operating Profit Growth %

49.49%

-488.39%

381.39%

132.14%

-56.09%

17.03%

138.27%

114.61%

-87.95%

238.74%

Net Profit Growth %

-10.20%

-70.69%

80.17%

1258.45%

-84.24%

-6.45%

588.64%

136.21%

-119.30%

109.10%

0.00%

-119.30%

109.10%

VALUATION

P/E (x)

0.00x

218.23x

P/B (x)

0.00x

2.43x

1.48x

Dividend Yield %

0.00%

0.00x

38.00x

7.55x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

31.35

32.40

0.22

0.10

0.11

0.10

0.07

0.08

0.31

1.92

Government

0.00

66.50

66.61

66.60

66.61

66.62

66.65

65.61

65.60

65.36

Primo Chemicals Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

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Shareholding Pattern

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Primo Chemicals Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI