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Swing Capital

Clean Science & Technology Ltd

NSE: CLEAN BSE: 543318Pharma

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]

₹739
52W: ₹652 — ₹1600
PE 31.3 · Book ₹155 · +377% vs book
Market Cap₹7,858 Cr
Stock P/E31.3Price to Earnings
ROCE21.6%Return on Capital
ROE16.2%Return on Equity
Div. Yield0.8%Face Value ₹1

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 20.1%

Weaknesses

  • −The company has delivered a poor sales growth of 9.73% over past five years.
  • −Promoter holding has decreased over last 3 years: -27.2%
  • −Working capital days have increased from 127 days to 225 days

Shareholding Pattern

Promoters51.29%
FIIs13.38%
DIIs17.14%
Public18.17%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74.98%74.97%▼0.074.97%74.96%▼0.074.96%50.96%▼24.050.96%51.29%▲0.3
FIIs6.05%5.83%▼0.25.98%▲0.26.07%▲0.16.21%▲0.111.14%▲4.910.01%▼1.113.38%▲3.4
DIIs4.55%4.77%▲0.25.46%▲0.75.77%▲0.35.92%▲0.218.97%▲13.019.76%▲0.817.14%▼2.6
Public14.42%14.43%▲0.013.59%▼0.813.21%▼0.412.91%▼0.318.91%▲6.019.26%▲0.418.17%▼1.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales195225217228232245220213185197
Expenses108127120133129141119121113109
Operating Profit86999895102105101927288
OPM %44%44%45%41%44%43%46%43%39%45%
Net Profit62757267747977655258
EPS ₹5.877.046.796.356.977.47.216.084.885.47

AI Insights

Revenue Trend

Mar 2026 revenue at ₹815Cr, down 11.6% YoY. OPM at 43%.

Debt Position

Borrowings at ₹1Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹4Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 17.14% (+10.73pp change). FIIs: 13.38% (+7.54pp change). Promoters hold 51.29%.

Margin & Efficiency

ROCE improving from 0% (Mar 2015) to 22% (Mar 2026). Working capital days: 225.

Valuation

PE 31.3x with 21.6% ROCE. Price is 377% above book value of ₹155. Dividend yield: 0.8%.

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