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Clean Science & Technology

CLEAN NSE
₹656.40 −2.40 (−0.36%)
P/E
29.95
View as Markdown
MCP
Close 4 Nov 2026 ₹656.40 −324.80 −33.1% 1Y
Start ₹981.20

Key Fundamentals

MicrocapChemicals & PetrochemicalsChemicals

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
20.70%
Debt to Equity
0.00
EPS (TTM)
₹21.92
Book Value
₹157.30
Market Cap
—
P/E (TTM)
29.95
P/B
4.17
ROE
15.30%
Dividend Yield
0.91%
EBITDA
₹388 Cr
52W High
₹992.20
52W Low
₹645.05
Day Range
₹645.05 – ₹663.90
Volume
3,70,975

Peer Comparison

Commodities › Chemicals › Specialty Chemicals

Clean Science & Technology peer comparison
Pidilite Industries
₹1,510.2058.04₹1,54,107 Cr13.721.42%23.90%31.00%₹15,399 Cr₹2,677 Cr
Gujarat Fluorochemicals
₹4,613.3083.76₹49,073 Cr6.040.07%7.82%9.64%₹5,303 Cr₹600 Cr
Navin Fluorine International
₹8,785.0057.03₹44,060 Cr10.100.09%19.60%21.00%₹3,634 Cr₹789 Cr
Deepak Nitrite
₹1,578.4027.48₹20,919 Cr3.320.49%9.82%11.40%₹8,575 Cr₹784 Cr
Aether Industries
₹1,540.7086.90₹20,030 Cr7.880.00%9.66%11.90%₹1,231 Cr₹235 Cr
Aarti Industries
₹447.5530.57₹15,838 Cr2.590.23%7.13%6.86%₹9,010 Cr₹531 Cr
Atul
₹5,156.5019.67₹14,827 Cr2.310.59%11.50%14.90%₹6,969 Cr₹788 Cr
Clean Science & Technology (this company)
₹656.4029.95₹6,898 Cr4.170.91%15.30%20.70%₹982 Cr₹232 Cr
Median 8 companies₹1,559.5543.80₹20,474 Cr5.110.36%10.66%13.40%₹6,136 Cr₹692 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

52 Average

Data confidence 100/100

Category scores

Quality
81
Strong
Returns, margins, earnings quality 22% weight
Valuation
45
Weak
Cheap vs sector & own history 24% weight
Growth
17
Poor
Sales & profit trajectory 9% weight
Financial Health
90
Strong
Solvency, leverage, coverage 9% weight
Momentum
16
Poor
Trend strength, vol-adjusted 12% weight
Ownership
49
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 24.6%

Weaknesses

1
  • Promoter holding has decreased over last 3 years: -23.7%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1225
OscillatorsStrong Bullish225
Moving AveragesStrong Bearish1000

Key readings

RSI (14)
25.59
Bullish
MACD (12,26,9)
−34.89
Bearish
SMA (50)
795.44
Bearish
SMA (200)
779.17
Bearish

As of

Analyst Rating

Based on 15 analysts
BUY87%

13 of 15 analysts rate Buy, 1 Hold, 1 Sell.

As of

BUY
13
87%
HOLD
1
7%
SELL
1
7%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+13.33%
3Y+0.74%
1Y−1.03%
TTM−0.41%

Net profit

Net profit growth by window
5Y+3.04%
3Y−7.96%
1Y−12.88%
TTM−13.75%

Operating cash flow

Operating cash flow growth by window
5Y+7.34%
3Y−0.48%
1Y+28.50%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y−13.58 pp
3Y−5.86 pp
1Y−2.92 pp
TTM−4.12 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2018₹241 Cr
Mar 2019₹393 Cr
Mar 2020₹419 Cr
Mar 2021₹512 Cr
Mar 2022₹685 Cr
Mar 2023₹936 Cr
Mar 2024₹791 Cr
Mar 2025₹967 Cr
Mar 2026₹957 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2018₹49.00 Cr
Mar 2019₹98.00 Cr
Mar 2020₹140 Cr
Mar 2021₹198 Cr
Mar 2022₹228 Cr
Mar 2023₹295 Cr
Mar 2024₹244 Cr
Mar 2025₹264 Cr
Mar 2026₹230 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹97.33 Cr −0.4% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
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

94d ago

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.

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.

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.

Quarterly Results

₹ Cr
CLEAN quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
188
181
195
228
224
238
241
264
243
245
220
249
268
299
Expenses
112
106
108
133
129
148
142
159
143
158
147
153
172
207
Operating Profit
76
75
87
95
95
90
98
105
100
87
72
96
96
92
OPM %
40%
41%
44%
42%
42%
38%
41%
40%
41%
36%
33%
38%
36%
31%
Other Income
13
6
8
14
10
11
5
12
13
7
10
3
22
6
Interest
0
0
0
1
0
0
0
0
0
0
0
0
0
2
Depreciation
11
11
11
13
16
18
18
17
19
19
19
21
21
21
PBT
79
69
83
95
89
83
85
100
95
75
63
78
98
74
Tax %
25%
25%
25%
26%
26%
29%
23%
26%
26%
26%
27%
25%
25%
25%
Net Profit
59
52
63
70
66
59
66
74
70
55
46
58
73
56
EPS (₹)
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
—

Sep 2026: from the results filed on 31 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
CLEAN profit and loss, annual, ₹ crore
Particulars 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
601
630
Operating Profit
74
137
186
260
300
403
332
388
356
352
OPM %
31%
35%
44%
51%
44%
43%
42%
40%
37%
36%
Other Income
5
11
11
25
30
30
41
39
32.56
41
Interest
1
0
0
0
0
1
1
0.42
0.35
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 (₹)
4.33
8.64
13.17
18.68
21.51
27.78
22.97
24.88
21.61
21.92
Div. Payout %
12%
15%
2%
134%
15%
18%
22%
24%
28%
—

Balance Sheet

₹ Cr
CLEAN balance sheet, annual, ₹ crore
Particulars 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
184
Total Liabilities
236
327
430
660
925
1,152
1,396
1,600
1,770
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
487
Total Assets
236
327
430
660
925
1,152
1,396
1,600
1,770

Cash Flow

₹ Cr
CLEAN cash flow, annual, ₹ crore
Particulars 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
−202
Financing
−5
−11
−55
−6
0
−55
−53
−53
−64
Net Cash Flow
23
−20
0
0
49
−45
−2
9
8
Free Cash Flow
13
46
110
109
−12
96
10
72
74
CFO/EBITDA
91
88
109
100
65
93
94
80
103

Ratios

CLEAN financial ratios, annual
Particulars 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
106
110
ROCE %
—
59%
59%
61%
47%
44%
29%
27%
21%

Insights

Beta

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

Log in to view Clean Science & Technology insights

62 extracted metrics across FY09–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 51.29%
  • DIIs 15.10%
  • FIIs 13.72%
  • Public 12.94%
  • Others 6.94%
  • Government 0.01%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Clean Science & Technology

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 trades as CLEAN on the NSE and under code 543318 on the BSE.
Which sector does Clean Science & Technology Ltd belong to?
Clean Science & Technology Ltd is classified under the Chemicals sector, in the Specialty Chemicals industry.
What is the PE ratio of Clean Science & Technology Ltd?
Clean Science & Technology Ltd trades at a PE ratio of 29.95 as of 4 Nov 2026, on earnings per share of ₹21.92, against a book value of ₹157.3 per share.
What is the 52-week high and low of Clean Science & Technology Ltd?
Over the last 52 weeks Clean Science & Technology Ltd has traded between ₹645.05 and ₹992.2 as of 4 Nov 2026.
Does Clean Science & Technology Ltd pay dividends?
Clean Science & Technology Ltd has a dividend yield of 0.91%.
What is the Return on Equity (ROE) of Clean Science & Technology Ltd?
Clean Science & Technology Ltd reported a return on equity of 15.30%. Its debt-to-equity ratio is 0.00.

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).

Website cleanscience.co.in
CEO Mr. Ashok Ramnarayan Boob
Employees 458
Listed 19 Jul 2021
Face Value ₹1

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