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.