Paragon Fine SME IPO

Paragon Fine And Speciality Chemicals Limited

₹1,14,000 /1200 sharesMinimum Investment

Paragon Fine SME IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
NSE₹100.00₹214.00₹114.00 (114.00%)

Paragon Fine SME IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
26 Oct ‘23 - 30 Oct ‘23₹1,14,0001,200₹95 - ₹100
Issue SizeIPO Doc
51.66Cr
RHP PDF

About Paragon Fine SME

Paragon Fine specializes in custom synthesis and producing specialty chemical intermediates with intricate chemistry. It began as a partnership in 2004 and has since expanded its operations to encompass the custom synthesis and manufacturing of various intermediates, such as pharma, agro, cosmetics, pigment, and dye intermediates. Paragon Fine serves a diverse clientele both in India and worldwide. Their extensive product range serves multiple industries, including pharmaceuticals, agrochemicals, cosmetics, pigments, and dyes. Paragon Fine's manufacturing facility, located in Viramgam District, Ahmedabad, Gujarat, is equipped with reactors capable of producing various products. They employ various chemical compositions, such as acetylation, amination, catalytic hydrogenation, chlorosulfonation, methoxylation, nitration, amidation, ethoxylation, and sulphonation. This diverse range of chemical capabilities allows them to meet various end products and applications' specific and advanced intermediate needs.;
Parent Organisation
Paragon Fine And Speciality Chemicals Limited
Founded
2022
Managing Director
Dr. Pravinchandra Jasmat Vasolia

Strengths & Risks

  • Paragon Fine has exported its products to countries like the United States, Israel, Spain, the United Kingdom, China, Switzerland, Taiwan, the Netherlands, Thailand, Mexico, Japan, Russia, France, Indonesia, Latvia, Germany, and more.
  • Paragon Fine's R&D team has successfully expanded its product lineup from around 100 items in 2021 to about 140 products in 2023 through multi-step synthesis and scale-up.
  • Their products find applications in various industries, including pharmaceuticals, agrochemicals, cosmetics, pigments, and dyes. By March 31, 2023, they were marketing these 140 products to over 13 global customers in 12 countries, as well as approximately 75 domestic customers.
  • Their R&D laboratory features various analytical instruments, such as a high-performance liquid chromatograph, oven, weighing scale, ultrasonic cleaner, pH meter, magnetic stirrer with heating, auto burette set, vacuum pump, and fuming hood.
  • Paragon Fine's customer base spans multiple industries, including pharmaceuticals, agrochemicals, fertilizers, water treatment chemicals, cosmetics, textiles, specialty pigments and dyes, additives, and polymers.
  • Their profit after tax has shown a Compound Annual Growth Rate (CAGR) of 49.98%, rising from Rs. 4.40 crore in 2021 to Rs. 9.89 crore in 2023.
  • Paragon Fine relies heavily on its research and development capabilities, and a failure to continue creating complex chemical solutions could harm its business.
  • The company faces risks related to the handling, production, and storage of hazardous substances in its operations.
  • From 2021 to 2023, Paragon Fine's top 10 customers contributed a significant portion of its revenue. If any of these customers decide not to do business with the company or terminate their long-term contracts, it could negatively impact Paragon Fine's business, financial standing, and operational results.
  • Paragon Fine highly depends on specific industries for a large portion of its sales. These industries include pharmaceuticals, agrochemicals, cosmetics, textiles, specialty pigments, dyes, additives, and polymers.
  • The company generates a significant portion of its revenue from exports, which exposes it to international trade risks.
  • Exchange rate fluctuations may impact the company's operational results since most of its income and expenses are in foreign currencies.
  • Paragon Fine does not have long-term agreements with its raw material suppliers. An increase in raw material costs, shortage, or decline in quality could adversely affect the company's business, financial health, and operational results.
  • The company's manufacturing facility in Gujarat exposes it to location-specific risks, including regulatory challenges, labor disputes, terrorist activities, violence, and natural or man-made disasters.
  • Paragon Fine is currently involved in various legal proceedings and potential litigations. An unfavorable outcome in these cases could lead to liabilities, penalties, and prosecutions and negatively impact the company's business and operational results.
  • The company has taken unsecured loans that lenders may call at any time. As of June 30, 2023, the unsecured loans amounted to Rs. 12.26 crore and were owed to promoters and their relatives.
  • Additionally, as of June 30, 2023, Paragon Fine had received financial assistance from banks totaling Rs. 14.83 crore.

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular95 - 100₹2 Lakh
High Networth Individual95 - 100₹2 - 5 Lakh
For Paragon Fine SME IPO, eligible investors can apply as Regular.
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