CLEAN - Clean Science and Technology Limited Share Price

Chemicals & Petrochemicals

₹1191.60-2.70(-0.23%)

Market Open as of Apr 28, 2025, 14:00 IST

What does Clean Science and Technology Limited do?

Specialty Chemicals•Chemicals•Small Cap

Clean Science and Technology Limited, research, develops, manufactures, and markets specialty chemicals in India and internationally. The company operates through Performance Chemicals, FMCG Chemicals, and Pharma & Agro Intermediates segments. It also offers FMCG Chemicals, including anisole, guaiacol, 4-methoxy acetophenone, butylated hydroxy anisole, veratrole, L-ascorbyl palmitate, tertiary butyl hydroquinone, ortho methoxy toluene, and para di-methoxy benzene (1,4-DMB). In addition, the company offers performance chemicals comprising clean light stab 770, 4-hydroxy tempo, mono methyl ether of hydroquinone, butylated hydroxy anisole, L-ascorbyl palmitate, 2,5-di-tertiary butyl hydroquinone, tertiary butyl hydroquinone, and dimethyl sebacate. Further, it provides pharma and agro intermediates, such as dicyclohexylcarbodimide, veratrole, para benzoquinone, and para di-methoxy benzene (1,4-DMB). Clean Science and Technology Limited serves food and infant food formulations, agricultural chemicals, polymers and monomers, perfumes, cosmetic, and other sectors. The company was incorporated in 2003 and is based in Pune, India.

Industry Group:Chemicals & Petrochemicals

Employees:457

Website:www.cleanscience.co.in

Summary of Latest Earnings Report from Clean Science and Technology

Summary of Clean Science and Technology's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated: Feb 25

Management Outlook:
Clean Science and Technology anticipates increased revenue growth driven by scaling production of HALS (targeting 3,000"“4,000 tons in FY26) and newly commercialized products like DHDT (pharma) and BHT (antioxidant). The HALS portfolio, including advanced grades (944, 119), is expected to boost realizations (targeting $5.5"“$6/kg vs. $4.5/kg currently). Expansion into non-China markets (Europe, US, Latin America) and distributor network development will support growth. The new performance chemicals plant is on track for H2 FY26 commissioning. Margin improvement is expected from favorable raw material trends (e.g., lower acetone costs), product mix shifts, and operational efficiency. The subsidiary aims to breakeven as scale improves.

Key Points:

Financials: Q3 standalone EBITDA margin at 45% (up 8% QoQ); consolidated sales up 23% YoY.
HALS Growth: Volumes reached 200 tons/month (exit Dec-24); focus on premium grades (944, 119) and geographic diversification.
New Products: DHDT (pharma) and BHT commercialized; Barbituric acid (pigment intermediate) to replace discontinued P-BQ.
CAPEX: INR 160 crore deployed in 9M FY25; new plants (performance chemicals, water treatment) to drive FY26"“27 growth.
Margins: Improved product mix, stable pricing, and lower input costs (coal, forex) to sustain EBITDA margins (~41"“45%).
Subsidiary: Clean Fino-Chem targets breakeven at INR 11"“12 crore monthly revenue; scaling HALS and new products critical.
ESG: Solar capacity expanded; FY24 sustainability report published.
Dividend: Interim dividend of INR 2/share approved.

(1,984 characters)

Q&A Session

Last updated: Feb 25

Question 1:
Priyank Chheda (Vallum Capital): "Have you taken price hikes post-December? Is the gross margin improvement due to price hikes or lower phenol prices?"
Answer: No price hikes were implemented; margins improved due to slightly lower raw material costs and favorable forex (INR depreciation to ~87/USD), boosting export realizations.

Question 2:
Priyank Chheda (Vallum Capital): "What is the utilization rate for MEHQ, P-BQ, and TBHQ? Update on P-BQ."
Answer: Utilization for performance chemicals is ~65"“70%. P-BQ production is halted due to quality issues; the facility will now produce Barbituric acid (pigment intermediate), approved by Sudarshan Chemical, with no major Capex.

Question 3:
Sanjesh Jain (ICICI Securities): "Why did subsidiary performance decline sequentially despite HALS growth?"
Answer: Parent company prioritized HALS-770 production, while the subsidiary focused on new product BHT (antioxidant). Subsidiary margins are lower due to greenfield Capex overheads but will improve as utilization scales.

Question 4:
Sanjesh Jain (ICICI Securities): "What is the revenue potential and timeline for DHDT (pharma intermediate)?"
Answer: DHDT targets ~Rs.80"“90 crore annually. Approvals expected in 6 months; full utilization likely in 1.5 years. Currently, samples are under evaluation with no Q3 revenue.

Question 5:
Arun Prasath (Avendus Spark): "Which HALS variants are scaling fastest, and how is distributor feedback?"
Answer: HALS-770 and 622 (lower-priced) dominate domestic sales, while 944/119 (premium) target export markets. Distributors (newly onboarded) are ramping up sales networks; no overlap with competitors' channels.

Question 6:
Ankur Periwal (Axis Capital): "What drives HALS realization improvement?"
Answer: Advanced HALS variants (e.g., 944/119 at $7"“9/kg vs. $4.5/kg average) will boost realizations. Distributor networks are 70% established; US/Europe demand may benefit from potential China tariffs.

Question 7:
Pankaj (Affluent Assets): "Why do standalone and consolidated margins differ?"
Answer: Subsidiary margins are lower due to greenfield Capex overheads. Convergence expected in 2"“3 years as utilization improves.

Question 8:
Jash Gandhi (Dalal & Broach): "What are HALS margins, and outlook for new Capex segments?"
Answer: Current HALS gross margin is ~25%; new performance chemicals/water treatment projects (Rs.300 crore revenue potential each) aim for >25% margins.

Question 9:
Krishan Parwani (JM Financial): "When will the subsidiary break even?"
Answer: Subsidiary breakeven requires Rs.11"“12 crore monthly revenue (vs. current quarterly ~Rs.60 crore). BHT and Barbituric acid may contribute ~Rs.50"“60 crore annually in FY26.

Question 10:
Srishti (Monarch AIF): "How does China impact HALS pricing?"
Answer: BASF drives pricing pressure, not China (~30% market share). Solar power savings are minimal (coal dominates utility costs). Pharma intermediate demand remains stable despite funding uncertainties.

Pros

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Profitability: Very strong Profitability. One year profit margin are 27%.

Size: Market Cap wise it is among the top 20% companies of india.

Growth: Good revenue growth. With NA% growth over past three years, the company is going strong.

Technicals: Bullish SharesGuru indicator.

Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.

Balance Sheet: Strong Balance Sheet.

Cons

Momentum: Stock has a weak negative price momentum.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Sector Comparison: CLEAN vs Chemicals & Petrochemicals

Comprehensive comparison against sector averages

Comparative Metrics

CLEAN metrics compared to Chemicals

Category	CLEAN	Chemicals
PE	48.70	54.12
PS	13.07	4.55
Growth	18.3 %	7.3 %

Performance Comparison

CLEAN vs Chemicals (2022 - 2025)

Key Insights

1. CLEAN is NOT among the Top 10 largest companies in Specialty Chemicals.
2. The company holds a market share of 0.7% in Specialty Chemicals.
3. In last one year, the company has had an above average growth that other Specialty Chemicals companies.

Share Holdings

Understand Clean Science and Technology ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

As of 2025-03-31

Shareholder Name	Holding %
Ashok Ramnarayan Boob	12.8%
Ashokkumar Ramkishan Sikchi Huf	9.96%
Asha Ashok Boob	8.07%
Nidhi Mohunta	5.56%
Parth Ashok Maheshwari	5.56%
Ashok Ramnarayan Boob Huf	5.51%
Anantroop Financial Advisory Services Private Limited	3.92%
Pooja Vivek Navandar	3.22%
Prasad Krishnakumar Boob	3.22%
Shradha Krishnakumar Boob	3.22%
Krishnakumar Ramnarayan Boob Huf	3.04%
Siddhartha Ashok Sikchi	2.96%
Krishnakumar Ramnarayan Boob	2.65%
Nilima Krishnakumar Boob	2.32%
Kunal Ashok Sikchi	2.27%
Ashok Sikchi	2.07%
Nandita Sikchi	2%
Nomura India Investment Fund Mother Fund	1.53%
Uti-Flexi Cap Fund	1.14%
Axis Elss Tax Saver Fund	1.12%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Balance Sheet for Clean Science and Technology

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	12.1%	10	9.03	5.2	12	26	13
Current investments	-8.9%	267	293	214	282	210	190
Total current financial assets	-1.7%	457	465	354	444	402	412
Inventories	11%	122	110	106	109	100	88
Total current assets	-0.2%	590	591	470	577	522	513
Property, plant and equipment	-3.8%	382	397	417	422	327	295
Capital work-in-progress	117.1%	2.65	1.76	2.2	4.1	42	44
Investment property	-135.7%	0	3.8	0	3.88	0	0
Non-current investments	40.3%	523	373	329	147	121	56
Total non-current financial assets	39.6%	526	377	332	149	124	59
Total non-current assets	16.8%	911	780	753	582	508	401
Total assets	9.5%	1,501	1,371	1,223	1,159	1,030	925
Borrowings, non-current	-	0	0	0	0	0.72	0.26
Total non-current financial liabilities	2.5%	1.41	1.4	1.4	1.39	0.72	0.26
Provisions, non-current	60.5%	0.85	0.62	0.58	0.58	0.13	0.13
Total non-current liabilities	15.2%	39	34	30	27	19	21
Borrowings, current	-	0	0	0	0	0.07	0.07
Total current financial liabilities	0%	112	112	84	99	114	124
Provisions, current	-9.6%	0.2	0.27	0.44	0.24	0.62	0.4
Current tax liabilities	150.4%	15	6.59	6.77	5.89	14	3.79
Total current liabilities	13.3%	137	121	95	113	137	135
Total liabilities	13.6%	176	155	125	140	156	156
Equity share capital	0%	11	11	11	11	11	11
Total equity	9%	1,325	1,216	1,099	1,019	874	769
Total equity and liabilities	9.5%	1,501	1,371	1,223	1,159	1,030	925

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	11.1%	11	10	5.28	12	49	58
Current investments	7%	323	302	290	328	276	191
Total current financial assets	9.9%	525	478	430	488	490	458
Inventories	19.5%	148	124	106	109	100	88
Current tax assets	1.3%	0.23	0.22	0	0	0	0
Total current assets	11.2%	734	660	573	630	610	559
Property, plant and equipment	14.5%	686	599	451	422	327	295
Capital work-in-progress	-48.2%	30	57	139	20	45	44
Investment property	-102.8%	0	37	0	37	0	0
Non-current investments	-2.8%	36	37	53	26	0	0
Total non-current financial assets	-2.5%	40	41	56	28	2.36	2.56
Total non-current assets	4.1%	767	737	657	521	412	354
Total assets	7.5%	1,501	1,396	1,231	1,152	1,022	925
Borrowings, non-current	-	0	0	0	0	0.72	0.26
Total non-current financial liabilities	1.5%	2.35	2.33	2.34	2.32	0.72	0.26
Provisions, non-current	76.5%	0.96	0.83	0.58	0.58	0.13	0.13
Total non-current liabilities	21.9%	40	33	29	26	18	21
Borrowings, current	-	0	0	1.1	0.05	0.07	0.07
Total current financial liabilities	-8.7%	138	151	101	101	115	124
Provisions, current	-8.8%	0.26	0.32	0.44	0.24	0.62	0.4
Current tax liabilities	150.4%	15	6.59	6.55	5.91	15	3.79
Total current liabilities	1.9%	163	160	111	116	138	135
Total liabilities	5.7%	204	193	140	142	156	156
Equity share capital	0%	11	11	11	11	11	11
Total equity	7.8%	1,297	1,203	1,091	1,010	866	768
Total equity and liabilities	7.5%	1,501	1,396	1,231	1,152	1,022	925

Income Statement for Clean Science and Technology

Standalone figures (in Rs. Crores) / View Consolidated Data

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	1.8%	232	228	217	225	195	181
Other Income	-60%	4.6	10	9.64	13	7.51	5.08
Total Income	-0.8%	236	238	227	239	202	186
Cost of Materials	-2.4%	81	83	80	75	71	67
Employee Expense	0%	12	12	12	12	12	11
Finance costs	8.2%	0.1	0.02	0.09	0.54	0.03	0.24
Depreciation and Amortization	0%	11	11	11	11	11	11
Other expenses	-10.5%	35	39	35	39	32	32
Total Expenses	-2.8%	141	145	131	138	120	117
Profit Before exceptional items and Tax	2.2%	96	94	96	101	83	69
Total profit before tax	2.2%	96	94	96	101	83	69
Current tax	19%	26	22	24	23	19	17
Deferred tax	-279.3%	-4.2	3.9	0.56	3.23	1.02	0.51
Total tax	-20%	21	26	24	26	20	18
Total profit (loss) for period	10.6%	74	67	72	75	62	52
Other comp. income net of taxes	0%	-0.02	-0.02	-0.02	-0.16	0.03	0.04
Total Comprehensive Income	10.6%	74	67	72	75	62	52
Earnings Per Share, Basic	11.6%	6.97	6.35	6.79	7.04	5.87	4.89
Earnings Per Share, Diluted	11.8%	6.97	6.34	6.79	7.04	5.87	4.89

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Revenue From Operations	-15.7%	789	936	685
Other Income	-2.6%	38	39	30
Total Income	-15.1%	828	975	715
Cost of Materials	-17.8%	278	338	245
Employee Expense	4.5%	47	45	35
Finance costs	80%	0.83	0.15	0.15
Depreciation and Amortization	22.9%	44	36	25
Other expenses	-19.9%	130	162	126
Total Expenses	-12.7%	497	569	410
Profit Before exceptional items and Tax	-18.3%	331	405	305
Total profit before tax	-18.3%	331	405	305
Current tax	-22.7%	76	98	73
Deferred tax	94.9%	7.16	4.16	3.35
Total tax	-18.8%	83	102	76
Total profit (loss) for period	-18.5%	248	304	229
Other comp. income net of taxes	-21.8%	-0.06	0.13	-0.2
Total Comprehensive Income	-18.5%	248	304	228
Earnings Per Share, Basic	-19.1%	23.31	28.57	21.522
Earnings Per Share, Diluted	-19%	23.31	28.56	21.516

Consolidated figures (in Rs. Crores) / View Standalone Data

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	1.3%	241	238	224	228	195	181
Other Income	-57.8%	5.22	11	9.93	14	7.79	6.01
Total Income	-1.2%	246	249	234	242	203	187
Cost of Materials	-3.3%	90	93	88	80	71	67
Employee Expense	0%	14	14	13	13	12	12
Finance costs	9.4%	0.13	0.04	0.11	0.57	0.05	0.25
Depreciation and Amortization	0%	18	18	16	13	11	11
Other expenses	-11.4%	40	45	39	42	32	33
Total Expenses	-3%	161	166	145	146	119	118
Profit Before exceptional items and Tax	2.4%	85	83	89	95	83	69
Total profit before tax	2.4%	85	83	89	95	83	69
Current tax	19%	26	22	24	22	19	17
Deferred tax	-764.8%	-5.98	2.05	-0.74	2.54	1.21	0.63
Total tax	-17.4%	20	24	23	25	20	17
Total profit (loss) for period	12.1%	66	59	66	70	63	52
Other comp. income net of taxes	0%	-0.02	-0.02	-0.02	-0.18	0.03	0.04
Total Comprehensive Income	12.1%	66	59	66	70	63	52
Earnings Per Share, Basic	14.3%	6.18	5.53	6.21	6.61	5.89	4.91
Earnings Per Share, Diluted	14.3%	6.18	5.53	6.2	6.61	5.89	4.91

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Revenue From Operations	-15.5%	791	936	685
Other Income	37.9%	41	30	30
Total Income	-13.8%	833	966	715
Cost of Materials	-16.3%	283	338	245
Employee Expense	9.1%	49	45	35
Finance costs	91.2%	0.93	0.2	0.15
Depreciation and Amortization	28.6%	46	36	25
Other expenses	-17.9%	134	163	126
Total Expenses	-11.2%	506	570	410
Profit Before exceptional items and Tax	-17.7%	326	396	305
Total profit before tax	-17.7%	326	396	305
Current tax	-22.7%	76	98	73
Deferred tax	268%	6.52	2.5	3.36
Total tax	-18.2%	82	100	76
Total profit (loss) for period	-17.3%	244	295	228
Other comp. income net of taxes	-23%	-0.07	0.13	-0.2
Total Comprehensive Income	-17.3%	244	295	228
Earnings Per Share, Basic	-18%	22.97	27.786	21.51
Earnings Per Share, Diluted	-18%	22.96	27.778	21.51

Cash Flow for Clean Science and Technology

Consolidated figures (in Rs. Crores) / View Standalone Data

Finance costs	91.2%
Change in inventories	26.9%
Depreciation	28.6%
Unrealised forex losses/gains	-1384.6%
Dividend income	0%
Adjustments for interest income	-62.6%
Share-based payments	-
Net Cashflows from Operations	-16.4%
Dividends received	-
Income taxes paid (refund)	-20.4%
Net Cashflows From Operating Activities	-15.1%
Proceeds from sales of PPE	783.6%
Purchase of property, plant and equipment	26.9%
Proceeds from sales of long-term assets	37.9%
Purchase of other long-term assets	11.6%
Dividends received	0%
Interest received	-62.9%
Net Cashflows From Investing Activities	31%
Proceeds from exercise of stock options	-100%
Payments of lease liabilities	11.7%
Dividends paid	-5.5%
Interest paid	72.7%
Net Cashflows from Financing Activities	3.3%
Effect of exchange rate on cash eq.	-1%
Net change in cash and cash eq.	93.6%

Standalone figures (in Rs. Crores) / View Consolidated Data

Finance costs	80%
Change in inventories	87.6%
Depreciation	22.9%
Unrealised forex losses/gains	-1042.3%
Dividend income	0%
Adjustments for interest income	-62.8%
Share-based payments	-
Net Cashflows from Operations	-10.4%
Dividends received	-
Income taxes paid (refund)	-20.4%
Net Cashflows From Operating Activities	-7.4%
Cashflows used in obtaining control of subsidiaries	-
Proceeds from sales of PPE	783.6%
Purchase of property, plant and equipment	-86.7%
Proceeds from sales of long-term assets	-19.2%
Purchase of other long-term assets	-33.2%
Dividends received	0%
Interest received	-63.1%
Net Cashflows From Investing Activities	6.9%
Proceeds from exercise of stock options	-100%
Payments of lease liabilities	4.1%
Dividends paid	-5.5%
Interest paid	71.6%
Net Cashflows from Financing Activities	3.4%
Effect of exchange rate on cash eq.	-1%
Net change in cash and cash eq.	-204.9%

Valuation
Market Cap	12.69 kCr
Price/Earnings (Trailing)	48.7
Price/Sales (Trailing)	13.07
EV/EBITDA	30.39
Price/Free Cashflow	2.9 K
MarketCap/EBT	36.01

Fundamentals
Revenue (TTM)	970.76 Cr
Rev. Growth (Yr)	21.49%
Rev. Growth (Qtr)	-1.27%
Earnings (TTM)	260.59 Cr
Earnings Growth (Yr)	4.82%
Earnings Growth (Qtr)	11.74%

Profitability
Operating Margin	36.31%
EBT Margin	36.31%
Return on Equity	20.09%
Return on Assets	17.36%
Free Cashflow Yield	0.03%

Investor Care
Dividend Yield	0.59%
Dividend/Share (TTM)	7
Shares Dilution (1Y)	0.02%
Diluted EPS (TTM)	24.52

Financial Health
Current Ratio	4.49
Debt/Equity	0.00
Debt/Cashflow	0.00

Is Clean Science and Technology Better than it's peers?

Detailed comparison of Clean Science and Technology against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
PIDILITIND	Pidilite IndustriesSpecialty Chemicals	1.53 LCr	13.12 kCr	+5.54%	+2.86%	77.42	11.65	+6.77%	+14.11%
NAVINFLUOR	Navin Fluorine InternationalSpecialty Chemicals	22.06 kCr	2.29 kCr	+6.02%	+34.53%	83.57	9.61	+3.88%	-21.55%
ATUL	AtulSpecialty Chemicals	18.89 kCr	5.42 kCr	+11.11%	+9.19%	44.18	3.49	+13.37%	+19.56%
VINATIORGA	Vinati OrganicsSpecialty Chemicals	17.6 kCr	2.2 kCr	+5.89%	+5.93%	45.55	8.01	+16.41%	+7.41%
AARTIIND	Aarti IndustriesSpecialty Chemicals	15.55 kCr	7.11 kCr	+10.14%	-43.08%	42.37	2.19	+13.53%	-15.30%

CLEAN - Clean Science and Technology Limited Share Price

What does Clean Science and Technology Limited do?

Summary of Latest Earnings Report from Clean Science and Technology

Sector Comparison: CLEAN vs Chemicals & Petrochemicals

Comparative Metrics

Performance Comparison

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Balance Sheet for Clean Science and Technology

Income Statement for Clean Science and Technology

Cash Flow for Clean Science and Technology

Valuation

Fundamentals

Profitability

Investor Care

Financial Health

Is Clean Science and Technology Better than it's peers?

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)