Clean Science Q4 Results Review: IDBI Capital Upgrades To 'Buy' On Impressive HALS Road Map

As Clean Science's valuations have turned attractive after the recent correction IDBI Capital upgrades rating from Hold to Buy with revised target price.

IDBI Capital

23 May 2025, 11:56 AM IST i

<div class="paragraphs"><p>Clean Science envisages steady and improving growth for base products and is strategically aiming to improve product mix by selling higher value HALS products like 119 and 944.</p><p>(Photo Source: freepik)</p></div>

Clean Science envisages steady and improving growth for base products and is strategically aiming to improve product mix by selling higher value HALS products like 119 and 944.

(Photo Source: freepik)

Clean Science's management asserted scaling up of HALS volumes from 1,900 tons in FY25 to close to 10,000 tons in FY28. Revenue scale up for the same would be from Rs 800 mn in FY25 to ~Rs 5.6 billion in FY28 with blended realisations of Rs 580-585 per kg. Volume and revenue target for FY26 has been pegged at 4500 tons and Rs 2.1 billion respectively. The management exuded confidence in their strategy of ramping up the HALS series.