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Clean Science and Technology Limited (CLEAN)

₹783.80 -1.34% last close, 16 Oct

📊 NSE: CLEAN 🏢 Chemicals 📢 Latest filing: 30 Sep 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Clean Science's revenue was ₹268 Cr (+21.9% year on year, +7.6% on the previous quarter), and net profit ₹73.0 Cr (-4.7% year on year); the operating margin was 35.8%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹268	+21.9%	+7.6%
Operating profit	₹96.0	-4.6%	+0.0%
Net profit	₹73.0	-4.7%	+25.9%
EPS (₹)	6.90	-4.3%	+25.9%
Operating margin	35.8%	—	—

Full quarterly financials → Results calendar →

CLEAN delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 49.42% of the CLEAN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 43.1%. That is close to its usual level. Volume was 0.4 times its average, well below normal.

49.42%Delivery, 16 Oct

43.1%Own 20-session average

0.4×Volume vs its average

₹783.80NSE close · -1.34%

Delivery in the last 5 sessions: 38.1% · 38.5% · 43.7% · 53.4% · 49.4%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Maharashtra GST Search Concludes; Clean Science Settles ₹2.0 Cr Net Liability

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 30 Sep 2026, 04:49 PM

The Maharashtra GST Department concluded search and seizure proceedings initiated on September 23, 2026, across Clean Science and Technology's premises and its subsidiary. The department determined a Reverse Charge Mechanism (RCM) GST liability of ₹9.9 crore, which is entirely claimable as Input Tax Credit (ITC). Additionally, an aggregate liability of ₹2.0 crore for interest and non-creditable taxes was determined, which the company has decided to pay and settle. The net financial cost of ₹2.0 crore is negligible compared to TTM PAT of ₹232 crore (~0.86%), and operations remained uninterrupted.

Search and seizure proceedings initiated on September 23, 2026, concluded on September 29, 2026
₹9.9 crore GST liability assessed under RCM, fully eligible for Input Tax Credit
₹2.0 crore net financial impact representing interest and non-creditable tax settled by the company
Zero disruption to manufacturing or business operations reported

💡 Track the upcoming Q2 FY27 financial results to confirm the one-off ₹2.0 crore tax/interest expense impact on quarterly net profit.

Maharashtra GST Department Initiates Search and Seizure at Clean Science and Tech Facilities

🔵 WATCH ⭐ 6/10

REGULATORY 📅 23 Sep 2026, 08:42 PM

The Maharashtra State GST Department initiated search and seizure proceedings on September 23, 2026, under Section 67 of the MGST Act, 2017. The proceedings cover Clean Science and Technology Limited's registered office in Pune and manufacturing units in Kurkumbh, Daund, along with its wholly owned subsidiary Clean Fino Chem Ltd. The company stated that it is cooperating with the authorities and providing documents, with no material impact on operations or financials at present. The monetary quantum or alleged contraventions have not yet been quantified or disclosed.

Search and seizure initiated on September 23, 2026, at 14:43 hours (2:43 p.m.) under Section 67 of the MGST Act, 2017.
Scope covers registered office at Magarpatta City, Pune, and manufacturing units at Kurkumbh, Daund.
Proceedings include wholly owned subsidiary Clean Fino Chem Ltd.
Company reports no material operational or financial impact at present; alleged violations remain unquantified.

💡 Monitor upcoming regulatory disclosures for any tax demand notices, penalties, or formal show-cause notices post the conclusion of the search.

Clean Science Infuses ₹50 Cr in Wholly Owned Subsidiary Clean Fino-Chem via Rights Issue

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 23 Sep 2026, 05:49 PM

Clean Science and Technology Limited has subscribed to 8,36,121 equity shares of its wholly owned subsidiary, Clean Fino-Chem Limited (CFCL), on a rights basis for ₹50.00 crore. The infusion is priced at ₹598 per share (₹10 face value plus ₹588 premium) and is intended to fund CFCL's ongoing projects. CFCL's turnover has grown substantially from ₹1.92 crore in FY24 to ₹46.77 crore in FY25 and ₹166 crore in FY26. The ₹50 crore investment represents approximately 5.8% of Clean Science's TTM revenue (₹869 crore) and 3.0% of its net worth (₹1,646 crore).

Subscribed to 8,36,121 equity shares of Clean Fino-Chem Limited aggregating to ₹50,00,00,358 in cash
Shares issued at face value of ₹10 with a premium of ₹588 per share (issue price ₹598 per share)
Clean Fino-Chem Limited revenue expanded to ₹166 crore in FY26, up from ₹46.77 crore in FY25 and ₹1.92 crore in FY24
Proceeds will be utilized to fund ongoing project expansions in speciality chemicals

💡 Track the commercialization timeline and margin trajectory of CFCL's new capacities, especially the HALS portfolio ramp-up, in upcoming quarterly disclosures.

Clean Science AGM Approves ₹4/Share Final Dividend and Whole-Time Director Appointment

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 12 Sep 2026, 05:40 PM

Clean Science and Technology shareholders have approved all resolutions at its 23rd AGM held on September 12, 2026. This includes the confirmation of an interim dividend of ₹2 (200%) and a final dividend of ₹4 (400%) per equity share of face value ₹1. Additionally, the reappointment of Mr. Krishnakumar Ramnarayan Boob and the 5-year appointment of Mr. Krishnakumar Satyanarain Saboo as Whole-Time Director were passed. The total dividend for FY26 stands at ₹6 per share, representing a ₹63.77 Cr total payout against FY26 PAT of ₹235.7 Cr.

Final dividend of ₹4/- (400%) per share of ₹1 face value approved with 99.9999% votes in favour
Interim dividend of ₹2/- (200%) confirmed, taking total FY26 dividend to ₹6/- per share
Appointment of Mr. Krishnakumar Satyanarain Saboo as Whole-Time Director approved for 5 years effective August 1, 2026
Overall voter participation stood at 78.9% of outstanding shares (8.39 Cr votes polled out of 10.63 Cr total shares)

💡 Track the dividend credit date as per the book closure ending September 12, 2026, and monitor the commercial ramp-up of the ₹300 Cr FY26 performance chemicals capex in forthcoming quarterly filings.

Clean Science Shareholders Approve Appointment of Krishnakumar Saboo as Whole-Time Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 12 Sep 2026, 05:37 PM

Clean Science and Technology Limited held its 23rd AGM on September 12, 2026, where shareholders approved all 7 agenda items with requisite majority. Key approvals included the appointment of Mr. Krishnakumar Satyanarain Saboo as Whole-Time Director for 5 years effective August 1, 2026, to July 31, 2031, with 99.21% votes in favor. Shareholders also confirmed an interim dividend of Rs 2 per share and declared a final dividend of Rs 4 per share (total Rs 6 per share for FY26). The adoption of FY26 financial statements and director re-appointments were also concluded smoothly.

Appointment of Krishnakumar Satyanarain Saboo approved as Whole-Time Director for 5 years (Aug 1, 2026 to Jul 31, 2031) with 99.21% votes in favor
Approval of FY26 final dividend of Rs 4 (400%) and confirmation of Rs 2 (200%) interim dividend per Re 1 share
Re-appointment of Mr. Krishnakumar Ramnarayan Boob as Whole-Time Director approved with 99.66% majority
Overall shareholder turnout saw 8.38 crore votes polled across resolutions (~78.86% to 78.94% voting turnout)

💡 Track subsequent quarterly filings to assess executive responsibilities and operational updates on key capex projects like HALS expansion.

Clean Science AGM Approves Rs 4/Share Final Dividend and Key Board Appointments

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Sep 2026, 05:29 PM

Clean Science and Technology Limited concluded its 23rd Annual General Meeting on September 12, 2026, where all 7 ordinary resolutions were approved by shareholders with requisite majority. Shareholders confirmed an interim dividend of Rs 2 (200%) and approved a final dividend of Rs 4 (400%) per equity share of Re 1 face value for FY26. Key appointments were also passed, including the reappointment of Whole-Time Director Krishnakumar Ramnarayan Boob and the appointment of Krishnakumar Satyanarain Saboo as Whole-Time Director for a 5-year term from August 1, 2026 to July 31, 2031.

Final dividend of Rs 4 (400%) per Re 1 share approved, alongside confirmation of Rs 2 interim dividend
Appointment of Krishnakumar Satyanarain Saboo as Whole-Time Director approved for 5 years (Aug 1, 2026 to Jul 31, 2031) with 99.21% votes in favour
Reappointment of retiring Whole-Time Director Krishnakumar Ramnarayan Boob approved with 99.66% majority
All 7 resolutions passed; overall voting turnout stood at ~78.9% of outstanding shares

💡 Track the payout timeline for the declared final dividend and monitor the commissioning progress of ongoing FY26 performance chemical capex in subsequent quarterly reports.

Clean Science Allots 1,601 Equity Shares Under CSTL ESOS 2021

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 31 Aug 2026, 06:01 PM

Clean Science and Technology Limited's Nomination and Remuneration Committee approved the allotment of 1,601 equity shares of face value Re. 1/- each under its CSTL ESOS 2021 scheme on August 31, 2026. Consequently, the company's paid-up equity share capital marginally increased from Rs. 10,62,82,520 to Rs. 10,62,84,121. The equity dilution is negligible at less than 0.002% of the total share capital.

Allotment of 1,601 equity shares of face value Re. 1/- each under CSTL ESOS 2021
Paid-up share capital increased from Rs. 10,62,82,520 to Rs. 10,62,84,121
Total outstanding shares expanded to 10,62,84,121 equity shares
Allotment approved via circular resolution on August 31, 2026

💡 No action required. This is a routine administrative share allotment resulting in negligible equity dilution.

Clean Science Incorporates Step-Down Subsidiary in Netherlands with EUR 50,000 Capital

🟡 NEUTRAL ⭐ 3/10

EXPANSION 📅 20 Aug 2026, 05:02 PM

Clean Science and Technology Limited's wholly owned subsidiary, Clean Fino-Chem Limited, has incorporated a new 100% step-down subsidiary named Clean Science International B.V. in the Netherlands. The entity was incorporated on August 19, 2026, with an initial capital subscription of EUR 50,000 (EUR 1 per share). The Dutch subsidiary will engage in the selling, distribution, trading, and job work of specialty chemicals and related products. This setup provides an operational base to facilitate direct European distribution and client engagement.

Clean Science International B.V. incorporated in the Netherlands on 19th August, 2026 (registered 20th August, 2026)
Clean Fino-Chem Limited holds 100% equity in the newly formed entity
Initial capital subscription stands at EUR 50,000 at a face value of EUR 1 per share
Line of business covers selling, distribution, trading, and job work of specialty chemicals

💡 Track subsequent updates on European market commercial operations and revenue contributions from this international trading arm in future quarterly filings.

Clean Science Submits FY26 BRSR; Exports Account for 67% of Turnover Across 38 Countries

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 17 Aug 2026, 03:01 PM

Clean Science and Technology Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 under SEBI Listing Regulations. The report details that Performance Chemicals contributed 72% of total turnover, Pharma and Agro Intermediates contributed 19%, and FMCG Chemicals made up 9%. Exports formed 67% of overall turnover spanning 38 countries from its 3 domestic manufacturing plants. The company reported resolving all 4 customer complaints received during the year (down from 15 in FY25) with zero product recalls or data breaches.

Exports contributed 67% of total turnover across 38 international countries.
Performance Chemicals formed 72% of product turnover, followed by Pharma and Agro Intermediates at 19% and FMCG Chemicals at 9%.
Operations spanned 3 manufacturing plants and 1 office nationally with 395 permanent employees.
Customer complaints declined to 4 in FY26 (all resolved) from 15 in FY25, with zero product recalls.

💡 Monitor future quarterly operational results and the commercial ramp-up of capacity expansions in performance chemicals rather than statutory ESG filings.

Clean Science 23rd AGM on Sep 12, 2026; Final Dividend of ₹4/Share Proposed

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 17 Aug 2026, 02:53 PM

Clean Science and Technology has scheduled its 23rd Annual General Meeting (AGM) for Saturday, September 12, 2026, via video conferencing and published its FY26 Annual Report. The company has proposed a final dividend of ₹4 per equity share (400% on ₹1 face value), which follows an interim dividend of ₹2 per share paid earlier. The share transfer books and register of members will remain closed from September 6 to September 12, 2026, for dividend and AGM purposes. AGM agenda items include the appointment of Mr. Krishnakumar Satyanarain Saboo as Whole-Time Director for 5 years and capping Non-Executive Directors' commission at 0.2% of net profits.

23rd AGM scheduled for Saturday, 12th September, 2026 at 12:00 Noon IST via VC/OAVM
Final dividend proposed at ₹4 per share (400% of ₹1 face value); total FY26 dividend stands at ₹6 per share
Book closure period set from 6th September, 2026 to 12th September, 2026 for dividend eligibility
Approval sought for appointment of Mr. Krishnakumar Satyanarain Saboo as Whole-Time Director for 5 years from 1st August, 2026
Commission for Non-Executive Directors capped at 0.2% of net profits for FY27

💡 Shareholders seeking dividend entitlement should ensure demat records and bank mandates are updated before the book closure date on September 6, 2026, and review AGM voting resolutions.

Rs 264 Cr Record Revenue: Clean Science Reports 10% YoY Growth Driven by HALS Ramp-up

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 06 Aug 2026, 11:14 AM

Clean Science and Technology reported its highest-ever consolidated quarterly revenue of Rs 264 Cr in Q1 FY27, a 10% YoY increase. The growth was primarily driven by the HALS (Hindered Amine Light Stabilizers) segment, which now contributes 22% of total sales, up from 15% previously. The company announced a strategic collaboration with Swiss partner Geneus Chem for advanced HALS grades, targeting an additional Rs 300-350 Cr revenue over the next 3-4 years. While legacy products saw a 6% YoY volume decline due to supply chain headwinds, the subsidiary CFCL has reached operational self-sufficiency.

Consolidated revenue reached a record Rs 264 Cr, representing a 10% YoY growth.
HALS segment now accounts for 22% of total sales, reducing legacy product dependence from 85% to 60%.
Strategic collaboration with Geneus Chem (Switzerland) targets Rs 300-350 Cr in additional revenue over 3-4 years.
Total capital infusion in the subsidiary stands at approximately Rs 850 Cr, which is ~10.4% of the current market cap.
HALS export mix improved to nearly 50% of segment sales, compared to being entirely domestic in the first year.

💡 Watch for the commercialization of Performance Chemical 2 in Q3 FY27 and the execution of the Geneus Chem partnership to see if it meets the Rs 300 Cr+ revenue target.

Clean Science Uploads Q1 FY27 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 01 Aug 2026, 05:57 PM

Clean Science and Technology has released the audio recording of its Q1 FY27 earnings conference call held on August 1, 2026. This follows a period where TTM revenue stood at ₹882 Cr, showing a decline from ₹929 Cr in FY25. The call is significant for investors seeking updates on the company's ₹300 Cr greenfield capex for FY26 and the ramp-up of the HALS (Hindered Amine Light Stabilizers) portfolio. With the stock down 39.2% over the last 12 months, management's commentary on margin recovery from the current 39.4% is a key focus area.

Audio recording of the Q1 FY27 earnings call held on August 1, 2026, is now available for public access.
The company is currently managing a ₹300 Cr greenfield capex program for FY26 to diversify into performance chemicals.
TTM revenue of ₹882 Cr reflects recent pressure compared to the FY25 revenue of ₹929 Cr.
Operating Profit Margin (OPM) stands at 39.4%, a compression from the 42.6% reported in FY25.
The company maintains a debt-free status with a D/E ratio of 0.00 and a net worth of ₹1,646 Cr.

💡 Investors should review the recording specifically for management's guidance on the utilization levels of HALS Unit 4 and the timeline for the ₹300 Cr performance chemicals expansion.

Rs 268 Cr Revenue in Q1 FY27; HALS Contribution Rises to 22% Amid Margin Pressure

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 01 Aug 2026, 02:23 PM

Clean Science reported an 11% YoY growth in consolidated revenue to Rs 268 Cr for Q1 FY27, driven by the ramp-up of the HALS portfolio. However, consolidated EBITDA margins compressed to 36.5% from 41.6% YoY, primarily due to raw material costs rising to 39.7% of sales. The company invested Rs 100 Cr in its subsidiary CFCL during the quarter, representing approximately 11.3% of TTM revenue. A significant structural shift is underway as HALS now contributes 22% of sales, successfully reducing legacy product concentration from 85% to 60%.

Consolidated revenue increased 11% YoY to Rs 268 Cr in Q1 FY27
HALS segment now accounts for 22% of total sales, up from 0% in FY23
Incurred Rs 100 Cr capex in Q1 FY27 towards subsidiary Clean Fino Chem Ltd
Top 4 legacy products concentration reduced to 60% from 85% in Q4 FY23
Performance Chemical 2 facility expected to be commercialized by Q3 FY27

💡 Monitor the margin trajectory in upcoming quarters to see if the company can pass through higher raw material costs. Watch for the successful commercialization and ramp-up of the Performance Chemical 2 unit scheduled for Q3 FY27.

Clean Science Q1 Revenue Hits ₹268 Cr; Appoints New WTD and Expands to Netherlands

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 01 Aug 2026, 02:16 PM

Clean Science and Technology reported a strong Q1 FY27 with revenue reaching ₹268.43 Cr, a 36% sequential increase from ₹197.13 Cr in the previous quarter. The company has appointed Mr. Krishnakumar Satyanarain Saboo, an 11-year veteran of the firm, as a Whole-time Director for a five-year term to lead operations and new projects. Furthermore, the board approved the incorporation of a wholly-owned subsidiary in the Netherlands with an initial capital of EUR 50,000 to handle European distribution. A final dividend for FY26 has been confirmed with a record date of September 5, 2026.

Q1 FY27 Revenue stood at ₹268.43 Cr, representing approximately 30% of the total TTM revenue of ₹882 Cr.
Net Profit for the quarter improved to ₹66.28 Cr, up from ₹58.12 Cr in the March 2026 quarter.
Appointment of Mr. Krishnakumar Satyanarain Saboo as Whole-time Director for 5 years (Aug 2026 - July 2031).
Incorporation of a new subsidiary in the Netherlands with an initial capital of EUR 50,000 (approx. ₹46 Lakhs).
Final dividend payment scheduled for September 30, 2026, following the AGM on September 12, 2026.

💡 Investors should monitor the margin sustainability as revenue scales and track the progress of the Netherlands subsidiary in improving direct sales to global accounts.

Clean Science Q1 Revenue up 21% QoQ to Rs 268 Cr; PAT down 13% as margins compress

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 01 Aug 2026, 02:14 PM

Clean Science and Technology reported Q1 FY27 consolidated revenue of Rs 268.43 cr, a 20.8% sequential increase from Rs 222.18 cr in Q4 FY26. However, net profit declined 13.2% QoQ to Rs 50.46 cr, indicating significant margin pressure compared to the previous quarter's Rs 58.12 cr. The company is expanding its global footprint by incorporating a wholly-owned subsidiary in the Netherlands with an initial capital of EUR 50,000. Additionally, the board has appointed Mr. Krishnakumar Saboo, a veteran with 11 years at the firm, as a Whole-time Director for a 5-year term.

Consolidated Revenue for Q1 FY27 stood at Rs 268.43 cr, showing a 22% growth over the same quarter last year (Rs 219.91 cr).
Net Profit for the quarter was Rs 50.46 cr, down 34% YoY from Rs 76.57 cr in June 2025.
Final dividend record date fixed for September 5, 2026, with payment scheduled for September 30, 2026.
New Netherlands subsidiary to be established for distribution and trading with an initial capital of EUR 50,000.
Mr. Krishnakumar Saboo appointed as Whole-time Director and Factory Occupier from August 1, 2026, to July 31, 2031.

💡 Investors should monitor the operating profit margin (OPM) trajectory, as the current quarter shows a disconnect between strong revenue growth and declining profitability. Watch for management commentary on raw material costs and the ramp-up of the HALS series in the upcoming AGM on September 12, 2026.

View All CLEAN Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 16.8% to INR 922.3 Cr in FY25 from INR 789.4 Cr in FY24. By H1 FY26, Performance Chemicals increased its share to 75% (up from 70% in H1 FY25), Pharma & Agro Intermediates contributed 16% (down from 17%), and FMCG Chemicals contributed 9% (down from 13%).

Geographic Revenue Split

As of H1 FY26, the revenue split is: China 38% (up from 36% YoY), Americas 20% (down from 21%), India 19% (up from 17%), Europe 14% (down from 16%), and Rest of World 9% (down from 10%).

Profitability Margins

Net Profit Margin improved to 32.3% in FY25 from 31.8% in FY24, driven by higher sales volumes. Gross margins in the subsidiary are targeted at 35-40%, though they fluctuated to 26% in Q2 FY26 due to inventory accounting (change in stock optics).

EBITDA Margin

EBITDA margin stood at 44% in FY25 (INR 399.1 Cr), a slight increase from 43.4% in FY24 (INR 337.2 Cr). The margin is supported by integrated operations but faces pressure from the ramp-up of new products and raw material volatility.

Capital Expenditure

The company incurred INR 235 Cr capex in FY24 (including INR 215 Cr in subsidiaries). Planned capex for FY26 is approximately INR 300 Cr, focused on the performance chemicals segment and funded entirely through internal accruals and surplus liquidity.

Credit Rating & Borrowing

CRISIL AA-/Stable for long-term and CRISIL A1+ for short-term. The company is debt-free with no long-term borrowing costs; interest coverage ratio improved to 493x in FY25 from 282x in FY24.

⚙️ Operational Drivers

Raw Materials

Key raw materials include Phenol (used to produce Anisole, MEHQ, and BHA) and various crude oil derivatives. Raw material expenses accounted for 40.1% of revenue in Q2 FY26 on a consolidated basis.

Import Sources

Not explicitly disclosed by country, but the company utilizes a mix of local and foreign currency transactions to manage its 60-65% export exposure.

Capacity Expansion

Unit 4, a 34-acre (1,32,700 sq. mtrs) facility for HALS, was commercialized in March 2024. Future expansion includes a INR 300 Cr investment in performance chemicals for FY26.

Raw Material Costs

Raw material expenses were INR 325.8 Cr in FY25, representing 35.3% of total revenue. Costs are sensitive to crude oil fluctuations, with a pass-through mechanism that operates with a time lag.

Manufacturing Efficiency

Efficiency is driven by 'Clean Technology' and integrated operations where Phenol is converted into multiple value-added products like MEHQ and BHA, maintaining operating margins above 40%.

Logistics & Distribution

The company uses a hybrid model of direct sales to large accounts and a distributor network for broader market reach in India and international markets.

📈 Strategic Growth

Expected Growth Rate

25%

Growth Strategy

Growth is targeted through the ramp-up of the HALS (Hindered Amine Light Stabilizers) series (770, 944, 119), adding new chemistries and process technologies, and executing greenfield capex (INR 300 Cr in FY26) to diversify the performance chemicals basket.

Products & Services

Specialty chemicals including Monomethyl Ether of Hydroquinone (MEHQ), Guaiacol, Butylated Hydroxyanisole (BHA), 4-Methoxy Acetophenone (4-MAP), and HALS series (770, 944, 119).

Brand Portfolio

Clean Science and Technology Limited (CSTL), Clean Fino Chem Ltd (Subsidiary).

New Products/Services

Recent launches include higher grades of HALS (944 and 119) which offer better realizations and contributed to a 34% value growth in the HALS portfolio in recent quarters.

Market Expansion

Expansion is focused on increasing direct sales to large global accounts and diversifying the product basket to reduce dependence on core products like MEHQ.

Market Share & Ranking

CSTL is a leading global player in MEHQ, Guaiacol, BHA, and 4-MAP.

Strategic Alliances

Collaborations with academic institutions and industry experts are used to enhance technological capabilities and prevent obsolescence.

🌍 External Factors

Industry Trends

The specialty chemicals industry is shifting toward 'clean' and sustainable manufacturing. CSTL is positioned as a leader in catalytic chemistry, which reduces waste and improves cost-efficiency compared to traditional methods.

Competitive Landscape

Operates in a highly competitive industry requiring constant technological upgrades. Competitors are not named, but CSTL focuses on niche products where it can maintain a dominant global position.

Competitive Moat

Moat is built on proprietary catalytic processes and integrated manufacturing (Phenol to BHA), which are difficult to replicate and provide a significant cost advantage. This is sustained by continuous R&D and a debt-free balance sheet.

Macro Economic Sensitivity

Highly sensitive to global crude oil prices and international trade policies, as 60-65% of revenue is derived from exports.

Consumer Behavior

Increased demand for stabilizers in polymer and plastic industries is driving the growth of the HALS segment.

Geopolitical Risks

Exposure to 35+ countries makes CSTL vulnerable to trade barriers and geopolitical shifts, specifically mentioned is the monitorable impact of US tariff hikes.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to environmental pollution norms and international manufacturing standards for specialty chemicals used in pharma and food (BHA).

Environmental Compliance

The company focuses on 'Clean Technology' to ensure regulatory compliance and operational efficiency, though specific ESG spend in INR is not disclosed.

Taxation Policy Impact

Tax expenses for FY25 were INR 98.2 Cr. The subsidiary Clean Fino Chem Ltd benefits from tax incentives related to its location in the Kurkumbh Industrial Area.

⚠️ Risk Analysis

Key Uncertainties

Volatility in raw material prices (crude derivatives) and sharp fluctuations in foreign exchange rates could impact margins by more than 5% if pass-throughs are delayed.