On 6 Nov 2026, Devson Catalyst was priced at ₹354.50, or 38.5× trailing earnings, against an industry P/E of 22.1×, and the shares are 16% below their 52-week high. Sales and net profit grew 19% and 75% a year over 3 years; its ROCE of 50% is the highest among the 7 largest Specialty Chemicals peers. It carries very little debt. It is listed on an SME platform with a market cap of ₹482 Cr, ranked 98th of 204 Specialty Chemicals companies by market cap; the shares rose 72% over the past year.
- ₹350.05
- ₹360.05
- ₹342.10
- ₹342.95
- 60K
Health check
- ReturnsAhead
+72.1% over a year, better than 6 of 7 peers.
- Price tagPricier
P/E 38.5 vs industry 22.1.
- GrowthStrong
Sales +19.5%, profit +75.0% a year over 3 years.
- ProfitabilityStrong
ROCE 49.7% vs peer median 24.4%.
- Balance sheetSolid
Practically debt-free, Piotroski 6 of 9.
- Red flags1 to check
P/E of 38.5 against an industry P/E of 22.1.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹482 Cr
- Small cap
- P/E
- 38.5
- Industry 22.1
- Price to book
- 5.43
- Peers 13.33
- Dividend yield
- 0.00%
- ROE
- 46.0%
- Peers 23.0%
- ROCE
- 49.7%
- Peers 24.4%
- Debt to equity
- 0.01
- Debt ₹1.02 Cr
- EPS (TTM)
- ₹9.21
- OPM (TTM)
- 30.8%
- Net margin 23.8%
- Sales growth
- +2.8%
- Latest quarter vs a year ago
- Profit growth
- −0.5%
- Latest quarter vs a year ago
- Price to sales
- 8.58
- EV/EBITDA 21.1
Strengths and risks
Strengths
- Return on equity of 46.0%.
- Return on capital employed of 49.7%.
- Practically debt-free.
- Net margin of 23.8%.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- P/E of 38.5 against an industry P/E of 22.1.
About Devson Catalyst
Devson Catalyst Limited manufactures and sells specialty products used in industrial processes in India and internationally. The company offers catalysts, such as chloride guards, sulphur guards, claus catalyst, hydrotreating catalysts, and reforming catalysts; adsorbents, including activated alumina and molecular sieves; ceramic balls, such as ceramic and alumina balls and ceramic tower packing. It serves the oil and gas, refining, petrochemicals, steel,…
- Headquarters
- Surendranagar
- Employees
- 59
- Sector
- Basic Materials
- ISIN
- INE2KRP01017
- Website
- devsongroup.com
Price range
- Avg volume (3M)
- 66.9K
- 1-year return
- plus 72.1%
- From 52-week high
- minus 16.2%
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 15.3% | 0.15 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.1% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| DEVSONDevson Catalyst | 354.50 | plus 3.37% | 482 | 38.5 | 28.8 | 49.7% | 30.8% | 0.01 | 19.5% | plus 72.1% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.1% | 0.21 | 5.8% | 6.8% |
Quarterly results
This company doesn’t report these figures in a format we can read yet.
Profit & loss
- Sales CAGR 3Y
- +19.5%
- Profit CAGR 3Y
- +75.0%
- EPS CAGR 3Y
- +75.0%
- ROE
- 46.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 32.4 | 43.2 | 52.9 | 55.2 | |
| – | +33.4% | +22.5% | +4.5% | |
| 28.8 | 36.4 | 41.8 | 38.5 | |
| 3.6 | 6.8 | 11.1 | 16.8 | |
| 11.1% | 15.8% | 20.9% | 30.4% | |
| 0.2 | 0.3 | 0.3 | 0.9 | |
| 0.3 | 0.9 | 0.4 | 0.4 | |
| 0.3 | 0.4 | 0.5 | 0.6 | |
| – | −0.1 | −0.1 | 0.2 | |
| 3.2 | 5.7 | 10.4 | 16.8 | |
| 26.1% | 28.2% | 26.1% | 25.6% | |
| 2.3 | 4.1 | 7.7 | 12.5 | |
| – | +74.6% | +88.1% | +63.2% | |
| 1.72 | 3.00 | 5.65 | 9.21 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.3 | 0.3 | 0.3 | 10.3 | |
| 9 | 13.1 | 20.7 | 23.2 | |
| 1.4 | 4.4 | 2.8 | 2.5 | |
| 5.3 | 3.8 | 3.6 | 5.6 | |
| 15.9 | 21.5 | 27.4 | 41.6 | |
| 5 | 7.2 | 7.1 | 11.8 | |
| – | – | 0.3 | 0.1 | |
| 0.3 | 0.6 | 0.7 | 0.8 | |
| 0.9 | 1.2 | 3.3 | 2.2 | |
| 9.7 | 12.5 | 15.9 | 26.7 | |
| 15.9 | 21.5 | 27.4 | 41.6 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1.9 | 0.2 | 4.5 | 4.6 | |
| −0.5 | −2.6 | −2.5 | −2.9 | |
| −0.5 | 2.6 | −1.9 | −0.7 | |
| 0.8 | 0.2 | 0.1 | 0.9 | |
| −0.5 | −2.7 | −0.6 | −5.3 | |
| 1.3 | −2.4 | 3.9 | −0.7 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders. Institutions hold about 1.3% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.