Prasol Chemicals Limited
RHP · filed 03 Sept 2026
Prasol Chemicals Limited is a chemical manufacturing company with a revenue CAGR of 18.58% and a latest revenue of Rs 1232.59 crore. The IPO comprises a fresh issue of Rs 80 crore and an offer for sale of Rs 420 crore, with 84% of the offer being an offer for sale. The company faces high-severity operational risks related to facility breakdowns and regulatory risks, including recent shutdowns and notices from the Maharashtra Pollution Control Board.
What stands out
Mostly an exit. 84% of the offer is an Offer for Sale, so most proceeds go to selling shareholders, not the company.
Risk factor. Our business is dependent on our manufacturing facilities and we are subject to certain related risks, including the breakdown or failure of equipment, power supply or processes, performance below expected levels of output, efficiency, labour disputes, strikes, environmental issues, lock-outs, non-a
Risk factor. Unplanned slowdowns, unscheduled shutdowns or prolonged disruptions in our manufacturing operations or under-utilization of our manufacturing capacities could have an adverse effect on our business, results of operations, cash flows and financial condition.
Risk factor. In the event that we are forced to shut down our manufacturing facility for a significant period of time, it would have a material adverse effect on our earnings, our results of operations and our financial condition as a whole.
Risk factor. Our manufacturing facilities are subject to regulatory risks, including instances where the Maharashtra Pollution Control Board (MPCB) has directed us to shut down manufacturing activities, such as the closure of the Khopoli Manufacturing Facility for approximately 55 days in 2018 and the Cease oper
Low leverage. Debt-to-equity of 0.25x.
How the offer is structured
Fresh issue
₹80.0 Cr
New capital into the company
Offer for sale
₹420 Cr
Goes to selling shareholders
OFS share
84%
Debt repayment
₹60.0 Cr
From fresh proceeds
- Repayment and/or pre-payment of certain borrowings, in full or part, availed by our Company₹60.0 Cr
- General corporate purposes
Restated financials
Revenue
₹1.23k Cr
Latest fiscal year
Revenue CAGR
18.6%
Debt / equity
0.25
| Fiscal year | Revenue | EBITDA | PAT | Net worth |
|---|---|---|---|---|
| 2024 | ₹877 Cr | |||
| 2025 | ₹1.01k Cr | |||
| 2026 | ₹1.23k Cr |
Promoters, litigation & related parties
Promoter (pre)
41.3%
Related-party
0.4%
Share of revenue
Except as disclosed in this section, there are no outstanding (i) criminal proceedings (including first information reports irrespective of any cognizance taken by any court or not) involving our Company, Directors, Promoters, Key Managerial Personnel and Senior Management Personnel (Relevant Parties); (ii) actions by any regulatory authorities and statutory authorities (including any findings/observations of any of the inspections by SEBI or any other regulatory authority or penalties or show cause notices) against our Company and our Promoters ; (iii) consolidated disclosure of all outstanding claims related to direct and indirect taxes, giving the number of cases and total amount involving our Company, Directors or Promoters. Provided that if the amount involved in any such claims exceeds the materiality threshold, such matter(s) shall be disclosed on an individual basis; and (iv) for all outstanding civil/ arbitration proceedings and other pending litigations involving our Company, Directors, or Promoters (other than proceedings covered under (i) to (iii) above) as determined to be material by our Board pursuant to the policy on materiality (Materiality Policy) approved by the Board of Directors, in each case involving our Company, Promoters, or Directors. Further, except disclosed in this section, there are (i) no disciplinary actions including penalties imposed by the SEBI or the stock exchanges against our Promoters in the last five Fiscals including any outstanding action.
Risks the company discloses
Our business is dependent on our manufacturing facilities and we are subject to certain related risks, including the breakdown or failure of equipment, power supply or processes, performance below expected levels of output, efficiency, labour disputes, strikes, environmental issues, lock-outs, non-availability of services of our external contractors, planned shut-down for maintenance or inspections, and significant repair and maintenance costs.(Operational)
Unplanned slowdowns, unscheduled shutdowns or prolonged disruptions in our manufacturing operations or under-utilization of our manufacturing capacities could have an adverse effect on our business, results of operations, cash flows and financial condition.(Operational)
In the event that we are forced to shut down our manufacturing facility for a significant period of time, it would have a material adverse effect on our earnings, our results of operations and our financial condition as a whole.(Operational)
Our manufacturing facilities are subject to regulatory risks, including instances where the Maharashtra Pollution Control Board (MPCB) has directed us to shut down manufacturing activities, such as the closure of the Khopoli Manufacturing Facility for approximately 55 days in 2018 and the Cease operations at the Mahad Manufacturing Facility for 24 days in 2021.(Regulatory)
Our manufacturing facilities are subject to regulatory risks, including instances where the Maharashtra Pollution Control Board (MPCB) has directed us to shut down manufacturing activities, such as the closure of the Mahad Manufacturing Facility following a gas scrubbing systems and H₂S leakage incident in 2023, which resulted in one fatality and four hospitalizations.(Regulatory)
Our manufacturing facilities are subject to regulatory risks, including instances where the Maharashtra Pollution Control Board (MPCB) has directed us to shut down manufacturing activities, such as the closure of the Mahad Manufacturing Facility following an incident during the unloading of caustic lye in 2022, which resulted in the unfortunate fatality of one worker.(Regulatory)
Our manufacturing facilities are subject to regulatory risks, including instances where the Maharashtra Pollution Control Board (MPCB) has directed us to shut down manufacturing activities, such as the show cause notice dated March 27, 2025 for non-operational storage of coal ash properly, non-providing proper coal ash storage area and coal ash unscientifically on open land, and non-submission of details of bank guarantee, details of hydrogeological study, one aeration tank and clarifier of ETP not in operation.(Regulatory)
Our manufacturing facilities are subject to regulatory risks, including instances where the Maharashtra Pollution Control Board (MPCB) has directed us to shut down manufacturing activities, such as the show cause notice dated July 25, 2025 for fire accident at the Mahad ETP sludge plant, non-providing proper storage area for ETP sludge and not providing disposal details of hazardous Spent HCL.(Regulatory)
How this document reads, dimension by dimension
Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.

