Incorporated in 2008, Patel Chem Specialities Limited (PCSL) is engaged in the manufacturing and exporting pharmaceutical excipients and specialty chemicals.
The company manufactures various essential chemicals used in pharmaceuticals, food, cosmetics, and industrial applications, serving as binders, disintegrants, thickeners, stabilizers, and gelling agents across industries.
The company’s manufacturing facilities in Vatva, Ahmedabad, and Talod, Himmatnagar, follow strict quality control standards, ensuring bulk production of chemicals that meet international certifications like US-DMF and GMP.
The company’s manufacturing facility covers 7,000 square yards, with a capacity of over 7,200 MT annually for pharmaceutical excipients, featuring departments for storage, production, R&D, quality control, packaging, and warehousing.
The company has expanded globally, serving East Asia, Europe, the Middle East, North America, and Southeast Asia, delivering high-quality products that meet international standards to lead the chemical industry.
Product Portfolio:
- Rheollose® (Sodium Carboxymethyl Cellulose): A cellulose gum used as a thickening and stabilizing agent in various applications.
- Disolwell® (Croscarmellose Sodium): A super disintegrant used in oral pharmaceutical formulations to enhance tablet disintegration.
- Swellcal® (Calcium Carboxymethyl Cellulose): Used as a super disintegrant in pharmaceutical applications.
- AmyloTab™ (Pregelatinized Starch): Used in tablet formulations to aid in the disintegration and dissolution processes.
As of March 31, 2025, the company has a total strength of 136 employees.
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Funding capital expenditure requirement of the Company | ₹43 |
| 2 General corporate purposes | ₹8 |
| Metric | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Total Assets | 65 | 47 | 37 |
| Revenue | 106 | 83 | 70 |
| PAT | 11 | 8 | 3 |
| EBITDA | 16 | 12 | 6 |
| Net Worth | 35 | 20 | 12 |
| Reserves | 18 | 19 | 11 |
| Total Borrowing | 15 | 15 | 12 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 3,316,800 (47%) | — |
| NII / HNI | — | 998,400 (14%) | — |
| Retail (RII) | — | 2,331,200 (33%) | — |
| Market Maker | — | 353,600 (5%) | — |
| Total | — | 7,000,000 (100%) | — |
* Amount calculated at upper price band (₹84) · ** Total includes all investor categories
- 1 Initiation of Refund 31 Jul 2025
- 2 Credit of Shares to Demat 31 Jul 2025
- Retail allocation is good at 33% of the total offering.
- HNI/NII demand is good at 14%.
- Institutional (QIB) interest is strong at 47%.
- The IPO P/E of 20x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹6 compares to post-issue EPS of ₹4 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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