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Par Drugs and Chemicals Limited (PAR)

₹109.53 -1.52% last close, 16 Oct

📊 NSE: PAR 🏢 Pharmaceuticals - Indian - Bulk Drugs 📢 Latest filing: 08 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Par Drugs' revenue was ₹31.3 Cr (+20.1% year on year, +59.5% on the previous quarter), and net profit ₹4.7 Cr (+41.6% year on year); the operating margin was 20.4%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹31.3	+20.1%	+59.5%
Operating profit	₹6.4	+79.2%	+343.1%
Net profit	₹4.7	+41.6%	+454.4%
EPS (₹)	3.83	+41.9%	+455.1%
Operating margin	20.4%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Par Drugs Submits Demat Compliance Certificate for Q2 Ended September 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 08 Oct 2026, 04:51 PM

Par Drugs and Chemicals Limited submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 3, 2026. It confirms that securities received for dematerialisation during the period were properly processed, accepted/rejected, and cancelled. This is a routine quarterly compliance filing with no impact on business operations or financials.

Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
Pertains to the quarter ended September 30, 2026
Issued by RTA MUFG Intime India Private Limited on October 3, 2026
Filing dated October 8, 2026 submitted to the National Stock Exchange of India

💡 Track the company's upcoming Q2 FY27 earnings release and operational updates, as this demat certificate is purely administrative.

Par Drugs AGM: All Resolutions Passed Including Remuneration Hikes for MD and CEO

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Sep 2026, 01:20 PM

Par Drugs and Chemicals announced the results of its 27th Annual General Meeting held on September 26, 2026. All ordinary and special resolutions were approved by shareholders with the requisite majority. Key approvals included the adoption of FY26 financial statements, re-appointment of Director Jignesh Savani, and special resolutions to increase the remuneration payable to Managing Director Falgun Savani and CEO Jignesh Savani. Total promoter holding stood at 90,32,750 shares (73.41%), with interested promoters abstaining from voting on remuneration resolutions.

27th Annual General Meeting held on September 26, 2026, with all resolutions approved by shareholders.
Adoption of FY26 Standalone Financial Statements approved unanimously with 91,95,593 valid votes in favor (100%).
Special resolutions passed to increase remuneration for Managing Director Falgun Savani and CEO Jignesh Savani.
Promoters abstained from voting on their remuneration hikes; public non-institutional votes passed the hikes with 99.998% and 100% approval, respectively.

💡 Track the upcoming quarterly operational performance and monitor the exact quantum of executive pay increases in future financial disclosures relative to net profits.

Par Drugs Concludes 27th AGM; Highlights ₹41.84 Cr Cash and FY26 PAT of ₹13.11 Cr

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Sep 2026, 02:54 PM

Par Drugs and Chemicals Limited concluded its 27th Annual General Meeting on September 26, 2026. The Chairman noted FY26 total income reached ₹107.66 crore compared to ₹103.12 crore in FY25, with Profit After Tax at ₹13.11 crore versus ₹13.36 crore previously. The company maintained a debt-free balance sheet with cash and cash equivalents of approximately ₹41.84 crore, representing about 26% of its ₹162 crore market capitalization. Voting results on all tabled resolutions will be disclosed separately upon scrutinizer certification.

Total income for FY 2025-26 reached ₹107.66 crore vs ₹103.12 crore in FY 2024-25
Profit after tax stood at ₹13.11 crore for FY 2025-26 compared to ₹13.36 crore in the previous year
Company closed FY 2025-26 debt-free with cash and cash equivalents of ~₹41.84 crore
A total of 45 shareholders attended the meeting (6 promoter, 39 public) out of 13,053 members

💡 Track the upcoming formal submission of voting results and scrutinizer report, alongside updates regarding the proposed business diversification and slump sale.

Par Drugs Schedules 27th AGM for September 26, 2026; Issues Annual Report Web-Link Notice

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Sep 2026, 05:43 PM

Par Drugs and Chemicals Limited has issued an intimation under Regulation 36(1)(b) of SEBI LODR regarding the dispatch of letters to shareholders without registered email addresses. The 27th Annual General Meeting (AGM) has been scheduled for Saturday, September 26, 2026, at 11:00 AM in Vadodara. The FY 2025-26 Annual Report and AGM Notice will be electronically dispatched and web-links activated by September 3, 2026, based on the record cut-off date of August 21, 2026.

27th Annual General Meeting scheduled for Saturday, September 26, 2026, at 11:00 AM
Electronic dispatch of Annual Report for FY 2025-26 and AGM Notice set for September 3, 2026
Shareholder cut-off date for dispatch eligibility was August 21, 2026
Compliance notice issued under Regulation 36(1)(b) for shareholders with unregistered email IDs

💡 Shareholders should review the upcoming FY26 Annual Report (releasing September 3, 2026) for detailed management commentary regarding the previously planned strategic pivot and slump sale.

Par Drugs & Chemicals Schedules 27th AGM for Sep 26, 2026; Cut-Off Date Sep 18

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 22 Aug 2026, 06:16 PM

Par Drugs And Chemicals Limited has announced that its 27th Annual General Meeting (AGM) will take place physically in Vadodara on Saturday, September 26, 2026. The record/cut-off date for eligibility to vote and attend has been fixed as Friday, September 18, 2026. Key agenda items include the adoption of FY26 financial statements, auditor re-appointments, and remuneration revisions for executive directors and an independent director.

27th AGM scheduled for Saturday, September 26, 2026 at 11:00 AM IST in Vadodara
Cut-off/Record date for voting eligibility set as Friday, September 18, 2026
Remote e-voting window opens on September 22, 2026 (09:00 AM) and closes on September 25, 2026 (05:00 PM)
Proposed re-appointment of Statutory Auditors at an annual remuneration of ₹ 2,25,000
Special resolutions include remuneration of ₹ 24 Lakhs for Independent Director Pravin Bhayani and hikes for the MD and CEO

💡 Shareholders eligible as of September 18, 2026 can review the full Annual Report once dispatched and cast their votes via remote e-voting between September 22 and September 25, 2026.

Par Drugs fixes 27th AGM for Sep 26, 2026; approves ₹64 lakh remuneration for MD & CEO

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 22 Aug 2026, 06:06 PM

Par Drugs and Chemicals announced outcomes from its board meeting held on August 22, 2026. The 27th Annual General Meeting is scheduled for September 26, 2026, with the remote e-voting cut-off date fixed as September 18, 2026. The board approved increased remuneration of ₹64 lakh each for MD Mr. Falgun Savani and CEO Mr. Jignesh Savani for a two-year period (Nov 2026–Nov 2028), subject to shareholder approval. Additionally, the appointment of M/s Sarupria Somani & Associates as Statutory Auditor for FY27 was approved.

27th AGM scheduled for September 26, 2026, with cut-off date on September 18, 2026
MD Falgun Savani remuneration increased to ₹64 Lakh for 2 years (Nov 26, 2026 to Nov 25, 2028)
CEO Jignesh Savani remuneration increased to ₹64 Lakh for 2 years (Nov 26, 2026 to Nov 25, 2028)
Remuneration of Rs. 24 Lakhs approved for Independent Director Pravin Bhayani for 1 year
M/s Sarupria Somani & Associates appointed as Statutory Auditor for FY 2026-27 subject to AGM approval

💡 Shareholders should note the voting cut-off date of September 18, 2026, ahead of the AGM on September 26, 2026, to vote on key resolutions including executive remuneration and auditor appointments.

PAR Board Approves AGM Date, Auditor Re-Appointments & ₹64 Lakh Remuneration for MD & CEO

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 22 Aug 2026, 06:04 PM

Par Drugs and Chemicals Limited held its board meeting on August 22, 2026, scheduling its 27th AGM for September 26, 2026, with a voting cut-off date of September 18, 2026. The board approved managerial remuneration increases to ₹64 Lakh each for Managing Director Mr. Falgun Savani and CEO Mr. Jignesh Savani for a two-year term, subject to shareholder approval. Additionally, M/s SIDDHPURA & CO was re-appointed as Internal Auditor and M/s Sarupria Somani & Associates as Statutory Auditor for FY 2026-27.

27th Annual General Meeting fixed for September 26, 2026; record/cut-off date set for September 18, 2026.
Approved remuneration of ₹64 Lakh for Managing Director Mr. Falgun Savani for 2 years (Nov 2026 - Nov 2028).
Approved remuneration of ₹64 Lakh for Director & CEO Mr. Jignesh Savani for 2 years (Nov 2026 - Nov 2028).
Approved remuneration of ₹24 Lakh for Independent Director Mr. Pravin Bhayani for 1 year from October 1, 2026.
Re-appointed M/s. Sarupria Somani & Associates as Statutory Auditor and M/s. SIDDHPURA & CO as Internal Auditor for FY 2026-27.

💡 Track voting outcomes at the upcoming AGM on September 26, 2026, and monitor progress on the company's previously announced strategic diversification plans.

Par Drugs Approves Remuneration Hikes for MD & CEO, Sets 27th AGM for Sep 26, 2026

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 22 Aug 2026, 05:53 PM

Par Drugs and Chemicals announced the outcome of its Board Meeting held on August 22, 2026. The Board approved the convening of its 27th AGM on September 26, 2026, with the cut-off date for e-voting set as September 18, 2026. Key proposals include increasing remuneration for MD Mr. Falgun V. Savani and CEO Mr. Jignesh V. Savani to ₹64 Lakh each for a 2-year period starting November 26, 2026. Additionally, the Board approved ₹24 Lakh remuneration for an Independent Director and authorized the management to appoint portfolio managers for corporate investments.

27th AGM scheduled for September 26, 2026; record/cut-off date for e-voting is September 18, 2026
Remuneration for MD Falgun V. Savani increased to ₹64 Lakh for 2 years (Nov 26, 2026 to Nov 25, 2028), subject to shareholder approval
Remuneration for CEO Jignesh V. Savani increased to ₹64 Lakh for 2 years (Nov 26, 2026 to Nov 25, 2028)
Approved remuneration of ₹24 Lakh for Independent Director Pravin Manjibhai Bhayani for 1 year (Oct 1, 2026 to Sep 30, 2027)
Appointed M/s. Sarupria Somani & Associates as Statutory Auditor for FY 2026-27

💡 Track shareholder voting outcomes at the upcoming AGM on September 26, 2026, and monitor disclosures regarding the deployment of corporate funds via portfolio managers.

41% PAT Growth in Q1 FY27; Revenue Rises to ₹31.28 Cr

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 08 Aug 2026, 05:29 PM

Par Drugs and Chemicals reported a strong start to FY27, with Q1 revenue growing 20% YoY to ₹31.28 Cr. Net profit saw a significant jump of 41.5% YoY, reaching ₹4.71 Cr compared to ₹3.33 Cr in the year-ago period. The company also formalized its investment management by appointing NEO Alternative Asset Managers and approved forward booking facilities with ICICI Bank to manage financial risks. These results come as the company prepares for a major strategic pivot from its core API business into Real Estate and Renewable Energy.

Revenue from operations increased 20% YoY to ₹31.28 Cr in Q1 FY27.
Net profit rose 41.5% YoY to ₹4.71 Cr from ₹3.33 Cr in Q1 FY26.
Earnings Per Share (EPS) improved to ₹3.83 from ₹2.70 in the corresponding previous quarter.
Appointed NEO Alternative Asset Managers Private Limited for Portfolio Management Services.
Approved the purchase of two new vehicles (Toyota Fortuner and Mahindra XEV) with a combined ex-showroom value of approximately ₹72.35 Lakh.

💡 Investors should monitor the timeline for the previously announced slump sale of the API business and the deployment of the ₹95 Cr investment plan into new verticals. While Q1 results are strong, the company's profile will change fundamentally as it exits its primary revenue-generating segment.

Par Drugs Q1 FY27 PAT Rises 41% YoY to ₹4.71 Cr; Appoints Portfolio Manager

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 08 Aug 2026, 05:26 PM

Par Drugs and Chemicals reported a strong start to FY27 with Q1 revenue growing 20% YoY to ₹31.28 Cr. Net Profit saw a significant jump of 41.4% YoY to ₹4.71 Cr, driven by improved operational performance. The board also approved the appointment of NEO Alternative Asset Managers for portfolio services, signaling the start of their planned pivot into Capital Market Ventures. Additionally, the company is strengthening its risk management by availing forward booking facilities from ICICI Bank for currency hedging.

Revenue for Q1 FY27 increased to ₹31.28 Cr from ₹26.05 Cr in Q1 FY26, a 20% growth.
Net Profit grew 41.4% YoY to ₹4.71 Cr, up from ₹3.33 Cr in the corresponding quarter last year.
Earnings Per Share (EPS) improved to ₹3.83 for the quarter compared to ₹2.70 in the previous year.
Appointed NEO Alternative Asset Managers Private Limited as Portfolio Manager to manage company investments.
Approved the purchase of two new motor vehicles for directors with a combined ex-showroom value of ₹72.35 Lakh.

💡 Investors should monitor the timeline for the proposed slump sale of the API business, which currently contributes 99% of revenue, as the company transitions into Real Estate and Renewable Energy.

Q1 FY27 Net Profit up 41.4% YoY to ₹4.71 Cr; Revenue grows 20% to ₹31.28 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 08 Aug 2026, 05:23 PM

Par Drugs and Chemicals reported a strong start to FY27, with Q1 revenue growing 20.1% YoY to ₹31.28 Cr. Net profit saw a significant jump of 41.4% YoY, reaching ₹4.71 Cr compared to ₹3.33 Cr in Q1 FY26. The company maintained a debt-free status while approving new forward booking facilities with ICICI Bank for risk management. Additionally, the board approved the appointment of a portfolio manager and the purchase of two new executive vehicles totaling approximately ₹72.35 Lakh.

Revenue from operations increased to ₹31.28 Cr in Q1 FY27 from ₹26.05 Cr in Q1 FY26.
Net profit grew 41.4% YoY to ₹4.71 Cr, resulting in an EPS of ₹3.83.
Total expenses for the quarter stood at ₹25.89 Cr, up from ₹23.41 Cr in the previous year's quarter.
Board approved the purchase of a Toyota Fortuner Legender (₹42.92 Lakh) and a Mahindra XEV 9E (₹29.43 Lakh) for executive use.
Appointment of NEO Alternative Asset Managers Private Limited as Portfolio Manager for the company.

💡 Investors should monitor the company's transition progress as it plans to pivot from its core API business (currently 99% of revenue) into Real Estate and Renewable Energy sectors.

June 30, 2026: Par Drugs submits routine SEBI dematerialization compliance certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jul 2026, 03:03 PM

Par Drugs and Chemicals Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ending June 30, 2026. The certificate, issued by MUFG Intime India Private Limited, confirms that all share certificates received for dematerialization were processed and the registry updated within prescribed timelines. This is a standard administrative filing required for all listed companies to ensure the integrity of electronic shareholding records. There is no impact on the company's financial performance or its ongoing strategic pivot into new business sectors.

Compliance certificate issued for the quarter ended June 30, 2026
Confirmation provided by RTA MUFG Intime India Private Limited on July 01, 2026
Company is currently transitioning from an API business that contributed 99% of revenue
Strategic diversification involves a committed investment of Rs 95 Cr in new verticals

💡 This is a routine administrative filing; investors should focus on the execution of the company's planned Rs 95 Cr diversification into Real Estate and Renewable Energy.

Par Drugs to Close Trading Window from July 1, 2026, for Q1 FY27 Financial Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Jun 2026, 11:37 AM

Par Drugs and Chemicals Limited has announced that its trading window for dealing in company securities will be closed starting July 1, 2026. This closure is in preparation for the declaration of the Unaudited standalone financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are officially announced to the exchange. The specific date for the Board Meeting to approve these results will be communicated at a later date.

Trading window closure commences on Wednesday, July 1, 2026.
Closure is related to the Unaudited standalone financial results for the quarter ended June 30, 2026.
The restriction applies to all Designated persons, employees, and their immediate relatives.
Trading window will reopen 48 hours after the financial results are declared.
The board meeting date for result approval is yet to be finalized and announced.

💡 This is a routine regulatory filing with no immediate impact on stock fundamentals. Investors should wait for the announcement of the board meeting date to assess the upcoming quarterly performance.

Par Drugs and Chemicals Receives Rectification Order; Tax Demand Reduced to Nil

🟢 POSITIVE ⭐ 4/10

REGULATORY 📅 10 Jun 2026, 04:31 PM

Par Drugs and Chemicals Limited has successfully resolved a tax dispute following a rectification application under Section 154 of the Income Tax Act. The Income Tax Department had previously raised a demand of Rs. 20.09 lakh due to clerical errors in the company's tax return filing regarding CSR and gratuity expenses. Upon review, the department deleted the additions of Rs. 58.78 lakh to the taxable income. Consequently, the total tax demand, including interest, has been recomputed to Nil, resulting in no financial impact on the company.

Income Tax Department passed a rectification order deleting additions of Rs. 58,78,360 to taxable income
Previous tax demand of Rs. 14,79,466 and interest of Rs. 5,29,563 has been completely set aside
The total demand of Rs. 20,09,030 has been recomputed to Nil following the rectification
The issue originated from a clerical error in the ITR where CSR and gratuity provisions were disclosed in the wrong column
The company received the final order via email on June 9, 2026, confirming no monetary liability

💡 Investors should note this as a positive administrative resolution that clears a pending tax liability. No further action is required as the financial impact is neutral to slightly positive due to the removal of the demand.

Par Drugs Receives ₹20.09 Lakh Income Tax Demand; Expects Nil Impact After Rectification

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 21 May 2026, 02:57 PM

Par Drugs and Chemicals Limited has received an intimation order from the Income Tax Department for a tax demand of ₹20.09 lakhs, including interest. The demand arose from disallowances of ₹58.78 lakhs related to CSR and gratuity expenses. The company clarified that these amounts were correctly accounted for but incorrectly reported in the ITR due to a clerical error. Management expects the demand to be reduced to NIL after filing a rectification application under Section 154.

Total tax demand of ₹20,09,030, comprising ₹14,79,466 tax and ₹5,29,563 interest.
Disallowances include ₹32,00,000 for CSR and ₹26,78,360 for gratuity provisions.
Company attributes the demand to an inadvertent clerical error in the ITR filing columns.
Rectification process initiated under Section 154 to bring the final tax demand to NIL.

💡 This is a routine administrative matter with no significant impact on the company's fundamentals. No immediate action is required from investors.

View All PAR Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The API segment, which currently contributes over 99% of total revenue, grew 5.6% YoY in FY25. Revenue for the quarter ended September 30, 2025, was INR 28.66 Cr.

Profitability Margins

Operating Profit Margin declined from 34.42% to 28.74% (a 16.51% decrease) in FY25. Net Profit Margin softened from 20.41% to 17.75% (a 13.02% decrease) due to raw material and operating cost inflation.

EBITDA Margin

EBITDA margin declined to 21.36% in FY25 from 24.00% in FY24. EBITDA contracted 6.0% YoY due to input cost inflation affecting core profitability.

Capital Expenditure

The company has committed a total capital expenditure of INR 95 Cr for strategic diversification, including INR 27 Cr for Real Estate, INR 27 Cr for Clean Energy, and INR 41 Cr for Capital Market Ventures.

Credit Rating & Borrowing

The company maintains a Debt-Equity Ratio of 0%, indicating it is debt-free. Interest coverage ratio is 0 as there is no significant long-term debt.

⚙️ Operational Drivers

Capacity Expansion

The company approved a slump sale of its primary API business unit (99% of revenue) to pivot into new sectors. Planned investments include INR 27 Cr in Real Estate and INR 27 Cr in Clean & Renewable Energy.

Raw Material Costs

Cost of materials consumed was INR 10.54 Cr for the quarter ended September 2025, representing 36.7% of revenue. Input cost inflation led to a 6.0% contraction in EBITDA.

📈 Strategic Growth

Growth Strategy

The company is executing a strategic pivot from its 99% revenue-contributing API business into three new verticals: Real Estate & Construction, Clean & Renewable Energy, and Capital Market Ventures. This INR 95 Cr investment strategy aims to align with 'Vision India @ 2047' and provide stable, countercyclical cash flows.

Products & Services

Currently sells Active Pharmaceutical Ingredients (API). Future products will include Real Estate construction units, Renewable Energy generation, and Capital Market services.

Brand Portfolio

PAR Drugs and Chemicals Limited.

New Products/Services

New services include Real Estate & Construction, Clean & Renewable Energy, and Capital Market Ventures, supported by a committed INR 95 Cr investment.

Market Expansion

Strategic diversification into resilient domestic sectors to reduce dependence on volatile global pharmaceutical cycles.

Strategic Alliances

The company entered into a slump sale agreement for its primary business unit, involving significant management judgment and related party transaction valuations.

🌍 External Factors

Industry Trends

The API industry is facing an evolving risk profile and high volatility. The company is positioning itself for the future by diversifying into sectors aligned with India's long-term development priorities (Vision India @ 2047).

Competitive Moat

The company is transitioning from a volatile API-based moat to a diversified multi-sector model to ensure sustainable long-term growth and stable cash flows.

Macro Economic Sensitivity

Highly sensitive to input cost inflation and global pharmaceutical cycles, which caused a 2.64 percentage point decline in EBITDA margins in FY25.

Geopolitical Risks

Exposure to volatile global pharma cycles is a primary risk, being mitigated by pivoting toward domestic-focused sectors like Indian real estate and energy.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by Ind AS 108 (Operating Segments), the Companies Act 2013, and ICAI's internal financial controls framework.

Environmental Compliance

The company continuously monitors and aligns operations with global ESG standards.

Taxation Policy Impact

The effective tax rate for the quarter ended September 2025 was approximately 25.6%, with INR 1.42 Cr in current tax on INR 5.55 Cr profit before tax.

Legal Contingencies

There have been no qualifications or adverse remarks in the Companies (Auditor’s Report) Order (CARO) reports for the audited periods.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the execution risk associated with transitioning from a 99% revenue-contributing API business to three entirely new business segments.