---
title: "Paragon Fine and Speciality Chemical Ltd (PARAGON) — Share Price, Financials & Analysis"
symbol: "PARAGON"
company: "Paragon Fine and Speciality Chemical Ltd"
canonical: "https://tapetide.com/stocks/PARAGON"
isin: "INE0N4G01012"
nse_symbol: "PARAGON"
sector: "Chemicals"
industry: "Dyes & Pigments"
market_cap_cr: 106.24
generated_at: "2026-09-13T19:59:52.833Z"
---

# Paragon Fine and Speciality Chemical Ltd (PARAGON)

Canonical page: https://tapetide.com/stocks/PARAGON

## Company

- **NSE Symbol:** PARAGON
- **ISIN:** INE0N4G01012
- **Sector:** Chemicals
- **Industry:** Dyes & Pigments
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2023-11-03
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** paragonind.com

## About

Incorporated in 2004, Paragon Fine & Speciality Chemical Ltd is in the business of manufacturing chemicals[1]

## Latest Price

- **Price:** ₹53.85
- **Change:** -3.75 (-6.51%)
- **Open:** ₹57.6
- **Day High:** ₹57.6
- **Day Low:** ₹51.3
- **Previous Close:** ₹57.6
- **Volume:** 36000
- **As Of:** 2026-09-11T09:55:16+00:00

## Key Fundamentals

Observed at 2026-09-11T04:51:50.406865Z.

- **Market Cap:** ₹106.24 Cr
- **Classification:** SME
- **P/E (reported):** 12.5
- **Book Value:** ₹50.31
- **Price to Book:** 1.14
- **Dividend Yield:** 0%
- **ROE:** 9.19%
- **ROCE:** 12.28%
- **Debt to Equity:** 0.01
- **Revenue (yearly):** ₹110.9 Cr
- **Net Income:** ₹9 Cr
- **EBITDA:** ₹13.7 Cr
- **52-Week High:** ₹64.9
- **52-Week Low:** ₹34.1
- **RSI (14):** 64.17

## Tapetide Score

- **Score:** 64 / 100
- **Score date:** 2026-09-04
- **Archetype:** Quality at a Reasonable Price
- **What it means:** Financial strength is not being paid for with a demanding multiple. The question worth asking is whether the quality is durable or reflects a good patch — check the consistency of returns over several years rather than the latest quarter.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Rising
- **Percentile:** 95.6 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 89.8 | 9% |
| growth | 29.42 | 9% |
| momentum | 70.05 | 12% |
| ownership | 50 | 24% |
| quality | 69.21 | 22% |
| valuation | 67.48 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 1.07 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 5.72% over past five years.
- Company has a low return on equity of 12.6% over last 3 years.
- Debtor days have increased from 114 to 141 days.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 182.19% | — | -11.07% |
| ebitda margin growth | -32.73% | 51.47% | -28.44% | 36.85% |
| net income growth | -33.33% | 52.54% | -3% | 15% |
| revenue growth | 8.28% | -5.29% | 2% | 6% |
| roce | — | 35.09% | -43.9% | 21.81% |
| roe | — | 38.82% | 10.98% | -74.54% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 32 | 72 | 60 | 61 | 52 | 64 | 41 | 69 |
| Expenses | 28 | 61 | 51 | 50 | 50 | 58 | 38 | 59 |
| Operating Profit | 4 | 10 | 9 | 11 | 2 | 6 | 3 | 10 |
| OPM % | 13 | 15 | 15 | 18 | 4.7 | 9 | 7 | 14 |
| Other Income | 1 | 0 | 0 | 1 | 1 | 0 | 0 | 1 |
| Interest | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Profit before tax | 4 | 10 | 8 | 11 | 3 | 6 | 2 | 10 |
| Tax % | 25 | 28 | 26 | 26 | 33 | 27 | 20 | 27 |
| Net Profit | 3 | 7 | 6 | 8 | 2 | 4 | 2 | 7 |
| EPS in Rs | 8.14 | 19.25 | 4.16 | 4.25 | 0.87 | 2.15 | 1.02 | 3.61 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 81 | 83 | 83 | 104 | 121 | 116 | 110 |
| Expenses | 77 | 77 | 77 | 89 | 102 | 108 | 97 |
| Operating Profit | 4 | 6 | 6 | 15 | 20 | 9 | 13 |
| OPM % | 4.8 | 8 | 7 | 14 | 16 | 7 | 12 |
| Other Income | 2 | 1 | 2 | 1 | 1 | 1 | 1 |
| Interest | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 4 | 6 | 6 | 14 | 19 | 8 | 12 |
| Tax % | 39 | 27 | 27 | 27 | 26 | 28 | 26 |
| Net Profit | 2 | 4 | 4 | 10 | 14 | 6 | 9 |
| EPS in Rs | 245 | 440 | 449 | 27.39 | 7.31 | 3.03 | 4.63 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.1 | 0.1 | 0.1 | 4 | 20 | 20 | 20 |
| Reserves | 3 | 8 | 12 | 19 | 64 | 70 | 79 |
| Borrowings | 12 | 22 | 21 | 25 | 9 | 3 | 1 |
| Other Liabilities | 22 | 20 | 24 | 24 | 13 | 11 | 9 |
| Total Liabilities | 38 | 50 | 58 | 71 | 106 | 104 | 108 |
| Fixed Assets | 6 | 7 | 10 | 9 | 11 | 16 | 19 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 3 | 4 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 32 | 43 | 48 | 62 | 94 | 85 | 86 |
| Total Assets | 38 | 50 | 58 | 71 | 106 | 104 | 108 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 12 | -10 | 5 | -2 | 0 | -6 | 5 |
| Cash from Investing Activity | -1 | -1 | -4 | -1 | -18 | -2 | 0 |
| Cash from Financing Activity | -9 | 9 | -2 | 3 | 29 | -5 | -2 |
| Net Cash Flow | 2 | -1 | -1 | 1 | 12 | -13 | 2 |
| Free Cash Flow | 11 | -11 | 2 | -3 | -3 | -14 | 0 |
| CFO/OP | 316 | -136 | 118 | -7 | 40 | -45 | 55 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 96 | 130 | 95 | 95 | 77 | 124 | 141 |
| Inventory Days | 10 | 9 | 83 | 112 | 138 | 124 | 138 |
| Days Payable | 114 | 93 | 135 | 102 | 55 | 42 | 31 |
| Cash Conversion Cycle | -8 | 45 | 43 | 106 | 159 | 206 | 248 |
| Working Capital Days | 8 | 52 | 70 | 91 | 156 | 201 | 230 |
| ROCE % | — | 30 | 21 | 37 | 29 | 9 | 13 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 74.59% | 74.77% | 74.87% | 74.87% | 74.87% |
| FIIs | 2.04% | 2.12% | 1.8% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% |
| Public | 18.7% | 20.37% | 20.82% | 22.39% | 22.25% |
| Others | 4.67% | 2.73% | 2.51% | 2.74% | 2.88% |
| No. of Shareholders | 1681 | 1902 | 1920 | 2009 | 1880 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 13 / 6 / 0

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 52.63 | Buy |
| EMA (10) | 53.83 | Buy |
| SMA (20) | 50.77 | Buy |
| EMA (20) | 51.96 | Buy |
| SMA (50) | 49.62 | Buy |
| EMA (50) | 50 | Buy |
| SMA (100) | 47.6 | Buy |
| EMA (100) | 48.56 | Buy |
| SMA (200) | 45.71 | Buy |
| EMA (200) | 49.55 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 55.17 | Neutral |
| MACD (12,26,9) | 1.95 | Buy |
| Stochastic (14,3,3) | 55.64 | Neutral |
| ADX (14) | 26.22 | Buy |
| Williams %R (14) | -58.47 | Neutral |
| ATR (14) | 3.14 | High Volatility |
| ROC (12) | 6.74 | Buy |
| Stoch RSI (14) | 36.27 | Neutral |
| UO (7,14,28) | 51.99 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Paragon Fine clarifies recent share price movement is market-driven; no new price-sensitive information. | [General Updates 9 Sep - Paragon Fine clarifies recent share price movement is market-driven; no new price-sensitive information.](https://nsearchives.nseindia.com/corporate/PARAGON_09092026181300_Clarification.pdf) |
| 9 Sep - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written … | [Price movement 9 Sep - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written …](https://www.nseindia.com/companies-listing/corporate-filings-announcements?symbol=PARAGON&tabIndex=sme) |
| 8 May 2026 - Company clarifies recent share price movement is market-driven; no undisclosed material information. | [General Updates 8 May 2026 - Company clarifies recent share price movement is market-driven; no undisclosed material information.](https://nsearchives.nseindia.com/corporate/PARAGON_08052026144635_Clarification.pdf) |
| 8 Jul - Submitted Regulation 74(5) certificate for quarter ended 30 June 2026; no rematerialisation requests. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 8 Jul - Submitted Regulation 74(5) certificate for quarter ended 30 June 2026; no rematerialisation requests.](https://nsearchives.nseindia.com/corporate/PARAGON_08072026170437_Intimation_f.pdf) |
| 8 January 2026 - RTA certificate under Reg 74(5): all shares dematerialised; no rematerialisation requests for quarter ended 31 Dec 2025. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 8 January 2026 - RTA certificate under Reg 74(5): all shares dematerialised; no rematerialisation requests for quarter ended 31 Dec 2025.](https://nsearchives.nseindia.com/corporate/PARAGON_08012026163024_Intimation_Regulation_74_5__certificate-signed.pdf) |
| 8 April 2026 - Submitted Regulation 74(5) certificate for quarter ended 31 March 2026; no rematerialisation requests. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 8 April 2026 - Submitted Regulation 74(5) certificate for quarter ended 31 March 2026; no rematerialisation requests.](https://nsearchives.nseindia.com/corporate/PARAGON_08042026175110_Intimation.pdf) |
| 7 April 2026 - Independent Director Insiya Qaidjohar Nalaawala resigned effective April 7, 2026. | [Resignation 7 April 2026 - Independent Director Insiya Qaidjohar Nalaawala resigned effective April 7, 2026.](https://nsearchives.nseindia.com/corporate/PARAGON_07042026172455_Intimation.pdf) |
| 5 January 2026 - Appointment of Mr. Sarthak Patel as Company Secretary and Compliance Officer effective 05 Jan 2026. | [Outcome of Board Meeting 5 January 2026 - Appointment of Mr. Sarthak Patel as Company Secretary and Compliance Officer effective 05 Jan 2026.](https://nsearchives.nseindia.com/corporate/PARAGON_05012026180944_Intimation_-_CS_Appointment.pdf) |
| 5 December 2025 - Paragon Fine and Speciality Chemical Limited has informed about Investor Presentation | [Investor Presentation 5 December 2025 - Paragon Fine and Speciality Chemical Limited has informed about Investor Presentation](https://nsearchives.nseindia.com/corporate/PARAGON_05122025160435_ParagonInvestor_Presentation_.zip) |
| 31 December 2025 - Company Secretary & Compliance Officer Shankumar Dhandhara resigns, effective Dec 31, 2025, citing pre-occupation/career advancement. | [Resignation 31 December 2025 - Company Secretary & Compliance Officer Shankumar Dhandhara resigns, effective Dec 31, 2025, citing pre-occupation/career advancement.](https://nsearchives.nseindia.com/corporate/PARAGON_31122025150153_Intimation_-_CS_Resignation.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_30562_PARAGON_2025_2026_A_947266_24082026182108.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28510_PARAGON_2024_2025_A_5325395_04092025222942.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25860_PARAGON_2023_2024_05092024175956.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Jun 2024 | [Concall - Jun 2024](https://nsearchives.nseindia.com/corporate/PARAGON_29062024135004_Intimation.pdf) |
| Dec 2024 | [Concall - Dec 2024](https://nsearchives.nseindia.com/corporate/PARAGON_11122024184031_Intimationpresentation.pdf) |
| Dec 2023 | [Concall - Dec 2023](https://nsearchives.nseindia.com/corporate/PARAGON_02122023201345_PARAGONPPTDEC1.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://nsearchives.nseindia.com/corporate/PARAGON_19082024195142_Intimation.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://nsearchives.nseindia.com/corporate/PARAGON_19082024194903_Intimation.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:59:52.833Z.