Financial Performance Highlights (FY 2025-26)
Revenue from Operations: ₹5,577.59 lakhs (4.86% growth from FY25 ₹5,319.21 lakhs)
Other Income: ₹106.85 lakhs (vs. ₹34.68 lakhs in FY25)
Total Income: ₹5,684.44 lakhs (6.17% growth)
EBITDA: ₹1,676.46 lakhs
Profit Before Tax (PBT): ₹1,683.19 lakhs (62.16% growth from FY25 ₹1,037.96 lakhs)
Profit After Tax (PAT): ₹1,252.09 lakhs (63.21% growth from FY25 ₹767.23 lakhs)
PAT Margin: 22.45%
Tax Expense: ₹432.27 lakhs (vs. ₹269.08 lakhs in FY25)
Key Financial Ratios
Return on Equity (ROE): 45.97%
Return on Capital Employed (ROCE): 47.60%
Debt to Equity: 0.07x
Inventory Turnover: 10.60x
Net Worth: ₹3,349.82 lakhs (58.7% CAGR FY24-FY26)
Current Ratio: 4.18 times
Operational Metrics
Capacity Utilization: 86.83%
Installed Capacity: 6,205 MTPA
Proposed Capacity Expansion: To 11,293 MTPA (5,088 MTPA expansion)
Employee Count: 31 full-time employees (excluding laborers)
Capital Structure Changes
Authorized Share Capital: Increased from ₹25.00 lakhs to ₹1,500.00 lakhs
Bonus Issue: Issued 1,00,00,000 bonus equity shares in ratio 40:1 by capitalizing ₹1,000.00 lakhs from free reserves
Paid-up Capital: ₹1,025.00 lakhs (1,02,50,000 equity shares of ₹10 each) as of March 31, 2026
Initial Public Offering (Post Balance Sheet Date)
IPO Date: Successfully completed in July 2026
Issue Size: ₹42.34 crore
Issue Price: ₹118 per equity share (Face value ₹10)
Equity Shares Offered: 35,88,000 shares (Fresh issue: 33,38,000 shares; Offer for sale: 2,50,000 shares)
Subscription: 203.18x overall (QIB: 168.33x, NII: 261.79x, Retail: 239.76x)
Listing: BSE SME platform effective July 16, 2026
Post-IPO Paid-up Capital: Increased to 1,35,88,000 equity shares
Product Portfolio
Catalysts: Chloride Guard, Sulphur Guard, Claus Catalyst, Hydrotreating Catalysts, Reforming Catalysts
Adsorbents: Molecular Sieve, Activated Alumina
Ceramic Solutions: Ceramic & Alumina Balls, Ceramic Tower Packing
End-Use Industries Served
Oil & Gas Refineries, Petrochemical & Chemical Manufacturing, Natural Gas Processing, Fertilizer Industry, Steel Sector, Environmental & Emission Control Applications, Specialty Chemical & Pharmaceutical Manufacturing
Manufacturing Facility
Location: Plot Nos. 213-218 & 233-237, Phase II, Ambawadi, GIDC, Wadhwan, Surendranagar, Gujarat - 363030
Certifications: ISO 9001:2015 (Quality Management), ISO 45001:2018 (Occupational Health & Safety)
Solar Power: 263.7 kWp rooftop solar system installed; additional 350 kWp proposed for new unit
Environmental: Zero Liquid Discharge Solution implemented
Export Performance
Export Revenue: ₹2,059.82 lakhs (FY25: ₹1,328.49 lakhs)
Export Markets: 15+ countries including North Europe, Middle East, South East Asia, South & West Europe
Board of Directors
Mr. Prahladbhai Devjibhai Shiyaniya: Chairman & Whole Time Director (DIN: 02519635)
Mr. Savan Prahladbhai Patel: Managing Director (DIN: 07346200)
Mr. Pratapbhai Devjibhai Siyania: Whole Time Director
Mrs. Krishna Savanbhai Patel: Non-Executive Director
Mr. Prashant Harivallbhabhai Jani: Independent Director
Dr. Prakashkumar Verma: Independent Director
Key Managerial Personnel
Mr. Upen Himmatbhai Kanani: Chief Financial Officer
Ms. Zalak Ankitkumar Shah: Company Secretary & Compliance Officer
Mr. Arun Narayan Mendhi: R&D and Technical Head
Mr. Vijaykumar G Parmar: Sales & Operation Head
Corporate Governance
Board Meetings: 21 meetings held during FY26
Committee Constitution: Audit Committee, Stakeholders' Relationship Committee, Nomination and Remuneration Committee, Corporate Social Responsibility Committee
Auditors: M/s. O.M.M.S & Associates, Chartered Accountants (Firm Registration No. 135149W)
Secretarial Auditor: M/s. ALAP & Co. LLP, Practicing Company Secretaries
CSR Activities
CSR Obligation: ₹12.85 lakhs (2% of average net profit)
CSR Expenditure: ₹17.86 lakhs (mainly on promoting education)
CSR Committee: Constituted on December 29, 2025
Dividend and Reserves
Dividend: No dividend recommended for FY26 to conserve resources for expansion
Reserves: Entire net profit retained in surplus; no transfer to general reserve
Related Party Transactions
All transactions with related parties conducted at arm's length basis in ordinary course of business
Total value of transactions: ₹125.51 lakhs (mainly salaries to relatives of directors)
Risk Factors
Identified risks include volatility in raw material prices, stringent environmental regulations, high R&D costs, intense market competition, and technological shifts
Future Outlook
Company plans to focus on capacity expansion, customer base expansion, operational efficiency, and leveraging public market listing for growth
Targeting expansion into new end-use industries aligned with market demand and sustainability imperatives