Clean Science & Technology Ltd logo

Clean Science & Technology Ltd

CLEAN NSE

Key Fundamentals

MicrocapSpecialty ChemicalsChemicals
Market Cap
₹8,870 Cr
Volatility
Moderate
P/E Ratio
37.95
EBITDA
₹355 Cr
Return on Equity
18.67%
Debt to Equity
0
Book Value
₹149.01
EPS
₹23.62
52W High
₹1,256.8
52W Low
₹652

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 21.5%

Weaknesses

2
  • Promoter holding has decreased over last 3 years: -23.7%
  • Working capital days have increased from 144 days to 242 days

Growth Rate

Revenue Growth
-4.84% ↘
Net Income Growth
-16.30% ↘
Cash Flow Change
-9.56% ↘
ROE
-7.94% ↘
ROCE
-7.03% ↘
EBITDA Margin (Avg.)
-15.33% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 18d ago
AI opinion · based on fundamentals
Risk high

Clean Science & Technology trades at a market cap of ₹7,821 crore with a PE of 33.7x. FY25 revenue grew 16.8% YoY to ₹922 crore with EBITDA margins around 40.8%, but the stock has declined 40% over the past year amid a significant promoter stake sale and a multi-year compression in profit growth (3-year profit CAGR of -8%).

Bull Case 8
  • Virtually debt-free balance sheet provides financial flexibility and insulation from rising interest rate cycles
  • FY25 revenue grew 16.8% YoY to ₹922 crore after a prolonged slowdown, signalling a recovery in demand
  • EBITDA margin of 40.8% in FY25 remains among the highest in the Indian specialty chemicals space, reflecting cost leadership via catalytic processes
  • HALS segment volume expected to scale from ~1,900 tons in FY25 to 10,000 tons by FY28 with peak revenue potential of ₹560-580 crore, providing a significant new growth lever
  • Cash reserves grew 64% in FY25, strengthening the balance sheet for organic capex without dilution or leverage
  • Commercialisation of Hydroquinone and Catechol plant adds new product streams beyond existing performance chemicals portfolio
  • Consistent dividend payout of 21.5% with FY25 dividend of ₹4/share demonstrates capital return discipline on a debt-free base
  • FY26 management guidance of 15-18% EBITDA growth with Q1 FY26 standalone EBITDA margin exceeding 46% suggests continued margin strength
Bear Case 8
  • Promoters sold ~24% stake (2.08 crore shares at ₹1,030/share floor price) in August 2025, reducing promoter holding to ~75% and raising governance and supply overhang concerns
  • Stock has declined 40% over 1 year and shows a 3-year stock CAGR of -18%, indicating sustained de-rating despite operational recovery
  • 3-year compounded profit CAGR of -8% and TTM profit decline of 13% show earnings have not kept pace with historical growth rates
  • Working capital days deteriorated sharply from 144 days to 242 days, locking up significantly more capital in operations and pressuring free cash flow
  • ROE declined from a 5-year average of 23% to 15% in the last year, suggesting diminishing returns on equity deployed
  • PE of 33.7x is elevated relative to a TTM sales growth of -1% and profit decline of -13%, implying the stock prices in recovery that is yet to fully materialise
  • 3-year compounded sales CAGR of just 1% indicates near-stagnation in topline over the medium term despite capacity additions
  • HALS segment yet to break even at EBITDA level (expected Q2 FY26), meaning new capex of ₹500 crore in Clean Fino-Chem is still dilutive to group returns

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 15d ago
Headwinds 2
  • Margin pressure from raw materials Aug 1

    Standalone margins faced pressure from rising raw material costs in Q1FY27, even as consolidated sales hit record highs.

  • YoY profit and revenue decline Aug 1

    Net profit declined to ₹732 million, revenue to ₹2.1 billion, and EBITDA to ₹868.7 million compared to the previous year on a standalone basis.

Positives 5
  • Five-year Kemin supply deal Aug 1

    Signed a five-year strategic supply agreement with Kemin Industries for food and feed ingredients, positioning Clean Science as a substantial primary supplier with enhanced long-term revenue visibility.

  • Highest-ever consolidated sales Aug 1

    Achieved highest-ever consolidated Q1FY27 sales driven by subsidiary performance and strategic expansions, with significant capex executed for future growth.

  • Dutch subsidiary incorporated Jul 30

    Clean-Fino Chem Ltd approved incorporating a wholly owned step-down subsidiary in the Netherlands with initial capital of EUR 50,000 to operate in speciality chemicals.

  • Swiss HALS collaboration signed Jul 17

    Subsidiary Clean-Fino Chem signed a strategic collaboration with Switzerland-based Geneus Chem AG to manufacture advanced HALS products.

  • Profit up 4.7% QoQ Aug 2

    Consolidated net profit rose 4.7% sequentially to ₹733.50 million in Q1FY27, with revenue up 10.5% YoY to ₹2,684.32 million.

Neutral 2
  • Q1FY27 earnings call held Aug 1

    Earnings conference call for Q1FY27 held on August 1, 2026, with audio recording disclosed per SEBI regulations.

  • Final dividend and new director Aug 2

    Board approved final dividend payable on September 30, 2026, and co-opted Krishnakumar Satyanarain Saboo as Whole-time Director.

TL;DR: Clean Science is expanding aggressively through international subsidiaries (Netherlands, Switzerland) and securing long-term supply contracts (Kemin five-year deal), while achieving record consolidated sales. However, standalone margins are under pressure from rising raw material costs and YoY profitability has declined. The sequential improvement in profit (+4.7% QoQ) and strategic capex suggest the trend is stabilizing, with new revenue streams from partnerships likely to support growth in coming quarters.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
188
181
195
228
224
238
241
264
243
245
220
249
268
Expenses
112
106
108
133
129
148
142
159
143
158
147
153
172
Operating Profit
76
75
87
95
95
90
98
105
100
87
72
96
96
OPM %
40%
41%
44%
42%
42%
38%
41%
40%
41%
36%
33%
38%
36%
Other Income
13
6
8
14
10
11
5
12
13
7
10
3
22
Interest
0
0
0
1
0
0
0
0
0
0
0
0
0
Depreciation
11
11
11
13
16
18
18
17
19
19
19
21
21
PBT
79
69
83
95
89
83
85
100
95
75
63
78
98
Tax %
25%
25%
25%
26%
26%
29%
23%
26%
26%
26%
27%
25%
25%
Net Profit
59
52
63
70
66
59
66
74
70
55
46
58
73
EPS in Rs
5.55
4.91
5.89
6.61
6.2
5.53
6.18
6.97
6.59
5.22
4.32
5.48
6.9
Figures in ₹ Crores

Profit & Loss

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
241
393
419
512
685
936
791
967
957
982
Expenses
167
257
234
253
385
533
459
579
602
630
Operating Profit
74
137
186
260
300
403
332
388
355
352
OPM %
31%
35%
44%
51%
44%
43%
42%
40%
37%
36%
Other Income
5
11
11
25
30
30
41
39
33
41
Interest
1
0
0
0
0
1
1
1
0
0
Depreciation
8
11
14
17
25
36
46
69
78
80
PBT
70
137
182
267
305
396
326
357
310
313
Tax %
30%
28%
23%
26%
25%
25%
25%
26%
26%
—
Net Profit
49
98
140
198
228
295
244
264
230
233
EPS in Rs
345
690
1,052
18.68
21.51
27.78
22.97
24.88
21.61
21.92
Div. Payout %
12%
15%
2%
134%
15%
18%
22%
24%
19%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
1
1
1
11
11
11
11
11
11
Reserves
186
271
341
529
758
999
1,193
1,406
1,573
Borrowings
1
3
3
0
0
2
2
2
2
Other Liabilities
48
53
85
120
156
140
191
181
197
Total Liabilities
236
327
430
660
925
1,152
1,396
1,600
1,783
Fixed Assets
102
127
166
186
296
460
636
715
760
CWIP
2
4
3
55
44
20
57
30
118
Investments
18
75
133
232
191
353
339
381
405
Other Assets
114
121
128
187
394
318
364
474
500
Total Assets
236
327
430
660
925
1,152
1,396
1,600
1,783
Figures in ₹ Crores

Cash Flow

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
45
85
160
193
127
279
236
214
275
Investing
-17
-94
-105
-187
-79
-270
-185
-152
-203
Financing
-5
-11
-55
-6
0
-55
-53
-53
-64
Net Cash Flow
23
-20
0
0
49
-45
-2
10
8
Free Cash Flow
13
46
110
109
-12
96
10
72
74
CFO/OP
91
88
109
100
65
93
94
80
103
Figures in ₹ Crores

Ratios

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
60
55
61
53
82
57
76
77
79
Inventory Days
93
79
98
156
143
122
163
156
157
Days Payable
85
48
101
180
166
90
139
103
118
Cash Conversion Cycle
69
87
58
29
59
89
99
129
118
Working Capital Days
60
62
33
32
90
68
86
105
242
ROCE %
—
59%
59%
61%
47%
44%
29%
27%
21%

Shareholding Pattern

As of Jun 2026
Promoters 51.29%
DIIs 16.23%
FIIs 13.37%
Public 12.39%
Others 6.71%
Government 0.01%
Total 100.00%
  Apr 2021Jun 2021Jul 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
94.65%
94.65%
78.51%
78.51%
78.51%
78.51%
78.51%
78.50%
78.50%
78.50%
74.99%
74.98%
74.98%
74.98%
74.98%
74.97%
74.97%
74.97%
74.97%
50.97%
50.96%
51.29%
51.29%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
6.00%
0.00%
5.88%
6.06%
5.83%
5.98%
6.07%
6.21%
11.14%
10.00%
13.39%
13.37%
DIIs
0.00%
0.37%
3.69%
4.29%
3.82%
3.59%
4.37%
4.45%
4.64%
4.76%
6.41%
5.23%
5.03%
5.04%
4.55%
4.77%
5.46%
5.76%
5.92%
18.98%
19.76%
17.14%
16.23%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.01%
Public
0.00%
0.44%
8.09%
6.90%
6.40%
6.74%
6.86%
6.99%
7.01%
6.92%
6.96%
7.86%
8.02%
8.20%
8.40%
8.29%
8.08%
7.78%
7.59%
11.73%
12.45%
11.24%
12.39%
Others
5.35%
4.53%
9.71%
10.30%
11.26%
11.17%
10.26%
10.06%
9.85%
9.82%
11.65%
5.93%
11.97%
5.91%
6.01%
6.14%
5.51%
5.42%
5.31%
7.19%
6.81%
6.92%
6.71%
No. of Shareholders
0
26
31
3,79,361
2,44,336
2,42,642
2,63,593
2,70,446
2,70,616
2,70,823
2,66,971
2,85,259
2,78,653
2,79,395
2,73,841
2,54,629
2,46,798
2,37,016
2,25,484
2,39,974
2,43,606
2,37,113
2,41,947

Documents

Frequently Asked Questions about Clean Science & Technology Ltd

What does Clean Science & Technology Ltd do?
Incorporated in 2003, Clean Science and Technology Ltd is one of the leading chemical manufacturers globally. It manufactures functionally critical specialty chemicals such as Performance Chemicals (MEHQ, BHA, and AP), Pharmaceutical Intermediates (Guaiacol and DCC), and FMCG Chemicals (4-MAP and...
Where is Clean Science & Technology Ltd (CLEAN) listed?
Clean Science & Technology Ltd is listed on the Indian stock exchanges. It is listed on NSE: CLEAN and BSE: 543318. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Clean Science & Technology Ltd belong to?
Clean Science & Technology Ltd operates in the Chemicals sector within the Specialty Chemicals industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Clean Science & Technology Ltd?
Clean Science & Technology Ltd has a market capitalisation of approximately ₹8869.81 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Clean Science & Technology Ltd?
The Price-to-Earnings (PE) ratio of Clean Science & Technology Ltd is 37.95. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Clean Science & Technology Ltd?
Over the past 52 weeks, Clean Science & Technology Ltd has traded between a low of ₹652 and a high of ₹1,256.8. This range helps investors understand the stock's price volatility and recent trading levels.
Does Clean Science & Technology Ltd pay dividends?
Yes, Clean Science & Technology Ltd has a dividend yield of 0.71%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Clean Science & Technology Ltd?
Clean Science & Technology Ltd has a Return on Equity (ROE) of 18.67%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Clean Science & Technology Ltd on Tapetide?
On Tapetide, you can view Clean Science & Technology Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Incorporated in 2003, Clean Science and Technology Ltd is one of the leading chemical manufacturers globally. It manufactures functionally critical specialty chemicals such as Performance Chemicals (MEHQ, BHA, and AP), Pharmaceutical Intermediates (Guaiacol and DCC), and FMCG Chemicals (4-MAP and Anisole). [1]

Website cleanscience.co.in
CEO Mr. Ashok Ramnarayan Boob
Employees 458
Listed 2021-07-19
Face Value ₹ 1
Issued Size 10,62,76,499

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