| Annual Financials | Mar 2024 | Mar 2025 |
| Revenue | 876.57 | 1012.49 |
| Expenses | 848.28 | 956.25 |
| Other Income | 11.00 | 3.05 |
| Total Revenue | 887.56 | 1015.54 |
| Profit Before Tax | 33.51 | 59.29 |
| Net Profit | 18.13 | 43.57 |
Prasol Chemicals
Prasol Chemicals IPO
₹14,146
0.68 xOver-subscribedBidding Dates 08 Sept, 26 -10 Sept, 26
Min Investment ₹14,146
Lot Size22
Price Range ₹643 – ₹676
Issue Size ₹500.00 Cr.
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IPO Subscription Details
Retail Subscription Details
1.07 x
Non-Institutional Buyers (sHNI)
1.11 x
Non-Institutional Buyers (bHNI)
0.34 x
Qualified Institutional Buyers (QIB)
0.05 x
Total0.68 x
0.68 x IPO Timeline
IPO Offer Start
08 Sept,26
IPO Offer Ends
10 Sept,26
Allotment Finalisation
11 Sept,26
Refund Initiation
15 Sept,26
Listing of Shares
16 Sept,26
IPO Analysis
Strengths
The company is a highly diversified specialty chemical player with over 150 specialty chemical products and over 1,600 customers and exports to 69 countries. The diverse applications across multiple industries insulate the company from changes in business cycles or disruptions in any one industry.
The company has a dedicated in-house R&D team of 37 members comprising 4 members holding PhD and 25 chemists. The company has a pipeline of 40 products at various stages of development and has developed and commercialised 13 new products since April 1, 2023.
The company catered to 1,618, 1,586, and 1,560 customers during Fiscals 2026, 2025 and 2024 respectively. The company is a Government of India certified 3 Star Export House with a robust global distribution network extending to 69 countries.
Risks
The company is dependent on two manufacturing facilities in Maharashtra, which have been subject to regulatory shutdowns by MPCB in the past. The Mahad facility was shut down from October 27, 2023 to May 3, 2024 due to gas leakage incidents, resulting in decreased revenue and capacity underutilization.
The company handles hazardous, corrosive and flammable raw materials and finished products requiring expert handling. Past incidents include fatalities from gas leakage (H₂S and SO₂) and chemical exposure, resulting in regulatory action and operational shutdowns.
The company faces various legal proceedings including 16 statutory/regulatory proceedings against it, 6 criminal proceedings against promoters, and tax proceedings totaling ₹61.83 million in aggregate amount involved, which could result in financial liabilities and management distraction.
Objectives
The company proposes to utilize funds towards full or partial repayment or pre-payment of certain term loans to help deleverage the company, maintain optimal debt-equity ratio, reduce debt servicing costs, and improve return on capital employed.
The company proposes to utilize funds for general corporate purposes including ongoing business requirements, strategic initiatives, business development, corporate contingencies, organic or inorganic growth, and other expenses as approved by the Board.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 |
| Total Assets | 626.36 | 723.09 |
| Current Assets | 275.53 | 372.98 |
| Fixed Assets | 350.83 | 350.11 |
| Total Equity & Liabilities | 626.36 | 723.09 |
| Total Liabilities | 300.52 | 355.62 |
| Current Liabilities | 230.78 | 278.55 |
| Non Current Liabilities | 69.74 | 77.07 |
| Total Equity | 325.84 | 367.47 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 |
| Net Cash Flow | -11.07 | 6.69 |
| Investing Activities | -17.90 | -22.48 |
| Operating Activities | 115.61 | 22.26 |
| Financing Activities | -115.11 | 10.23 |
About Prasol Chemicals
Prasol Chemicals Limited is a forward integrated manufacturer of acetone and phosphorous based specialty chemicals with over 33 years of experience in the industry. The company operates through two manufacturing facilities in Maharashtra with an aggregate installed capacity of 98,644 metric tonnes per annum, producing over 150 specialty chemical products...more
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Managing DirectorNishith Rajnikant Shah
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