Paragon Fine and Speciality Chemical Limited (PARAGON)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Paragon Fine's revenue was ₹69.0 Cr (+7.8% year on year, +68.3% on the previous half-year), and net profit ₹7.0 Cr (+75.0% year on year); the operating margin was 14.5%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹69.0 | +7.8% | +68.3% |
| Operating profit | ₹10.0 | +66.7% | +233.3% |
| Net profit | ₹7.0 | +75.0% | +250.0% |
| EPS (₹) | 3.61 | +67.9% | +253.9% |
| Operating margin | 14.5% | — | — |
PARAGON delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 83.33% of the PARAGON shares traded on NSE were taken to delivery, against the stock's own 20-session average of 81.45%. That is close to its usual level. Turnover was only ₹4 lakh, so a handful of trades can move this figure. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 100.0% · 100.0% · 100.0% · 100.0% · 83.3%
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
Paragon Fine and Speciality Chemical Limited announced the voting results and Scrutinizer's Report for its 8th Annual General Meeting held on September 17, 2026. All 7 resolutions were approved by shareholders with requisite majorities. Key approvals included the adoption of FY26 financial statements, appointment of Ms. Chetna Rahul Vyas as an Independent Director for 5 years, and approval of related party transactions. A total of 36 shareholders attended the meeting via video conferencing, representing 1.20 crore polled votes.
- All 7 resolutions passed with requisite majority at the 8th AGM held on September 17, 2026
- Adoption of audited standalone financial statements for FY ended March 31, 2026 approved
- Appointment of Ms. Chetna Rahul Vyas as Independent Director approved for a 5-year term
- Approval granted for related party transactions and ratification of whole-time directors' remuneration
- Total of 1,20,13,200 votes polled across 1,838 shareholders on the record date (September 10, 2026)
Paragon Fine and Speciality Chemical Limited concluded its 8th Annual General Meeting (AGM) on September 17, 2026, held via video conferencing. The meeting commenced at 12:00 PM and concluded within 8 minutes at 12:08 PM. Key resolutions put forth included the adoption of FY26 standalone financials, reappointment of a director, appointment of an independent director for a 5-year tenure, material related party transactions, and remuneration ratifications for whole-time directors. Scrutinizer voting results will be disseminated within 2 working days.
- AGM commenced at 12:00 PM and concluded at 12:08 PM on September 17, 2026
- 7 agenda items presented, including FY26 financial statement adoption and related party transaction approvals
- Appointment of Chetna Rahul Vyas as Independent Director proposed for a 5-year tenure
- E-voting results to be declared and disseminated within 2 working days
Paragon Fine and Speciality Chemical Limited responded to an NSE surveillance inquiry dated September 9, 2026, regarding significant share price movements. The company clarified that all material events have been disclosed under Regulation 30 and that the price movement is purely market-driven and speculative. Additionally, the management confirmed that promoters and Key Managerial Personnel (KMPs) have not dealt in company shares recently.
- NSE surveillance query reference NSE/CM/Surveillance/17524 received on September 9, 2026
- Company confirmed compliance with Regulation 30 of SEBI Listing Regulations
- Management stated share price movements are market-driven and speculative in nature
- Promoters and KMPs have not transacted in company securities in the recent past
Paragon Fine and Speciality Chemical Limited has submitted its Structured Digital Database (SDD) compliance certificate for the financial year ended March 31, 2025, under SEBI (Prohibition of Insider Trading) Regulations. The certificate, issued by Practising Company Secretary Krushang Shah, confirms that all 6 required unpublished price-sensitive information (UPSI) events during the year were captured in the database. No non-compliances were observed. This is a purely administrative regulatory filing with no impact on revenue or profitability.
- Captured 6 out of 6 required UPSI events in the Structured Digital Database during the financial year.
- Certified non-tamperable database with audit trail and capability to maintain records for 8 years.
- Zero non-compliance instances reported for the period ended March 31, 2025.
Paragon Fine and Speciality Chemical Limited has submitted its annual Compliance Certificate for the Structured Digital Database (SDD) for the financial year ended March 31, 2025. The certificate issued by Practising Company Secretary Krushang Shah confirms 100% compliance with Regulation 3(5) and 3(6) of SEBI (Prohibition of Insider Trading) Regulations, 2015. All 6 required Unpublished Price Sensitive Information (UPSI) events during the year were captured with audit trails and zero non-compliances reported. This is a standard statutory disclosure with no impact on business operations or financials.
- Confirmed full compliance with Regulation 3(5) and 3(6) of SEBI (PIT) Regulations, 2015 for FY ended March 31, 2025
- Company successfully captured 6 out of 6 required UPSI events during the financial year
- Structured Digital Database confirmed to have 8-year record maintenance capability and audit trail
- Zero non-compliances reported by the Practising Company Secretary
Paragon Fine and Speciality Chemical Limited has issued the notice for its 8th Annual General Meeting scheduled for September 17, 2026, via video conferencing. Key agenda items include adoption of FY26 financial statements and the appointment of Ms. Chetna Rahul Vyas as an Independent Director for 5 years. Financial disclosures from the report show FY26 standalone net profit increased to ₹904.58 Lakhs (from ₹591.80 Lakhs in FY25), while revenue stood at ₹10,688.65 Lakhs compared to ₹11,430.61 Lakhs in the previous year. Long-term borrowings decreased to ₹87.09 Lakhs from ₹312.59 Lakhs, lowering the Debt-Equity ratio to 0.01.
- 8th Annual General Meeting to be held on September 17, 2026, at 12:00 Noon IST via Video Conferencing.
- FY26 standalone net profit rose to ₹904.58 Lakhs compared to ₹591.80 Lakhs in FY25.
- FY26 revenue from operations reported at ₹10,688.65 Lakhs versus ₹11,430.61 Lakhs in FY25.
- Long-term debt reduced from ₹312.59 Lakhs to ₹87.09 Lakhs, improving Debt-Equity ratio to 0.01.
- Proposed appointment of Ms. Chetna Rahul Vyas as Independent Director for 5 consecutive years.
Paragon Fine and Speciality Chemical Limited held a Board meeting on August 18, 2026, approving the notice and Directors' Report for the upcoming 8th Annual General Meeting (AGM). The Board approved appointments of Internal Auditors (M/s Karma & Co. LLP) and Cost Accountants (M/s Divyesh Vagadiya & Associates) for FY 2026-27. Additionally, the Board recommended Related Party Transactions for FY 2026-27 and ratification of managerial remuneration for two Whole-time Directors for FY 2025-26, both subject to shareholder approval at the AGM.
- Approved Notice and Directors' Report for the 8th AGM to be conducted via Video Conferencing.
- Appointed Karma & Co. LLP as Internal Auditor and Divyesh Vagadiya & Associates as Cost Accountant for FY 2026-27.
- Approved Related Party Transactions for FY 2026-27 under Section 188 of Companies Act, pending AGM approval.
- Recommended ratification of remuneration for Whole-time Directors for FY 2025-26 under Section 197(10) of Companies Act.
Financial Performance
Revenue Growth by Segment
Total income decreased by 4.52% YoY, falling from INR 122.66 Cr in FY24 to INR 117.12 Cr in FY25. Specific business segment growth percentages were not disclosed in the provided documents.
Geographic Revenue Split
The company operates in both domestic and international markets, utilizing a sales and marketing team to increase visibility. Specific percentage contributions from each region are not disclosed.
Profitability Margins
Net Profit Ratio experienced a significant decline of 56%, dropping from 11.87% in FY24 to 5.18% in FY25. Return on Equity (ROE) also fell by 75%, from 0.27 to 0.07, reflecting compressed profitability.
EBITDA Margin
Core profitability metrics showed a downward trend; Return on Capital Employed (ROCE) decreased by 59% YoY, falling from 21.84% in FY24 to 8.97% in FY25.
Capital Expenditure
The company plans to capitalize on unutilized capacity at its existing manufacturing facility to increase production of its current portfolio. Specific historical or planned expenditure in INR Cr is not disclosed.
Credit Rating & Borrowing
The company has significantly reduced its leverage, with the Debt-Equity Ratio improving by 63% from 0.10 to 0.04. Debt Service Coverage Ratio improved by 18% to 19.65, indicating very low borrowing costs and high solvency.
Operational Drivers
Raw Materials
The company utilizes various hazardous substances and raw materials required for catalytic processes. Specific chemical names and their percentage of total cost are not disclosed.
Import Sources
The company relies on imports for certain raw materials, which exposes it to shipment cost increases and potential import restrictions. Specific source countries are not disclosed.
Capacity Expansion
The company currently has unutilized capacity at its manufacturing facility which it intends to leverage for future growth. Specific MTPA or unit capacity figures are not disclosed.
Raw Material Costs
Raw materials and packing materials are stated at cost. Inventory valuation (INR 28.70 Cr) is a key audit matter because fluctuations in raw material market prices directly impact the determination of net realizable value and margins.
Manufacturing Efficiency
Manufacturing efficiency appears to have declined as the Inventory Turnover Ratio decreased by 15% (from 4.48 to 3.79) and the Net Capital Turnover Ratio fell by 30% (from 2.34 to 1.63).
Strategic Growth
Growth Strategy
Growth will be driven by capitalizing on the Government of India's 'self-reliance' objectives and domestic sourcing initiatives. The company intends to utilize existing idle capacity at its manufacturing plants and expand its presence in international markets through its dedicated sales and marketing team.
Products & Services
The company manufactures and sells chemical intermediates and speciality chemicals.
New Products/Services
The company aims to upgrade its product portfolio from time to time to meet customer quality standards, though specific new launches and their revenue contributions are not disclosed.
Market Expansion
Targeting increased visibility in both domestic and international markets to tap into the demand for chemical intermediates.
External Factors
Industry Trends
The industry is shifting toward domestic sourcing and self-reliance in India, driven by government policy. The company is positioning itself as a supplier of chemical intermediates to benefit from this trend.
Competitive Landscape
The company faces competition in the speciality chemical sector, where failure to upgrade product portfolios or comply with customer quality standards poses a risk.
Competitive Moat
The company's moat is built on its R&D capabilities in catalytic processes and its established manufacturing infrastructure. Sustainability depends on the ability to protect intellectual property (trade secrets, copyrights) and maintain quality standards.
Macro Economic Sensitivity
The company is sensitive to inflation and unanticipated turbulence in interest rates or equity prices, which could affect the cost of operations and financial results.
Consumer Behavior
Demand is driven by industrial requirements for chemical intermediates; a reduction in demand from these downstream industries would directly impact sales volumes.
Geopolitical Risks
Risks include changes in international trade regulations and potential restrictions on the import of raw materials.
Regulatory & Governance
Industry Regulations
Operations are subject to regulations regarding the manufacture, usage, and storage of hazardous substances, as well as jurisdiction-specific registrations and quality standards.
Environmental Compliance
The company operates with hazardous substances and faces risks related to environmental problems and potential uninsured losses. Specific compliance costs are not disclosed.
Taxation Policy Impact
Any change in government policies resulting in increased taxes is identified as a risk factor. The company's Net Profit Before Tax was INR 8.28 Cr against a Net Profit After Tax of INR 5.92 Cr.
Legal Contingencies
The company reports that it does not have any pending litigations that would impact its financial position as of March 31, 2025.
Risk Analysis
Key Uncertainties
Key risks include the inability to sustain historical growth rates (which saw a 58.6% drop in PAT this year) and the potential failure to protect intellectual property rights.
Geographic Concentration Risk
Not disclosed, though the company mentions both domestic and international operations.
Third Party Dependencies
The company relies on Bigshare Services Private Limited as its Registrar and Share Transfer Agent (RTA).
Technology Obsolescence Risk
The business faces the risk of failing to successfully upgrade its product portfolio or design new catalytic processes, which are essential for maintaining its competitive edge.
Credit & Counterparty Risk
Trade Receivables Turnover Ratio decreased by 23%, indicating a potential increase in credit risk or slower payment cycles from customers.
