Par Drugs and Chemicals Limited was initially formed as a Private Limited Company with the name 'Par Drugs and Chemicals Private Limited' at Bhavnagar, Gujarat. On 26 February 1999. Subsequently, the Company was converted into a Public Limited Company and the name was changed to 'Par Drugs and Chemicals Limited' on 5 November 2018.

the Company is primarily engaged in manufacturing of Active Pharma Ingredients and fine chemicals (API) for domestic market as well as for exports to international markets. APIs, also known as 'bulk drugs' or 'bulk actives' are the principal ingredient used in making finished dosages in the form of capsules, tablets, liquid, or other forms of dosage, with the addition of other APIs or inactive ingredients.

the Company currently own and operate two manufacturing facilities at Bhavnagar and Ankleshwar in the Gujarat. It currently have three manufacturing blocks at Bhavnagar facility for different products. The Bhavnagar facility certified by food & drugs control administration. During the year 2011, the Company has added two manufacturing block out of three at Chitra, Bhavnagar facility. One is dedicated facility for its main API and another one is for Fine Chemicals.

The Product portfolio presently comprises 12 APIs and 6 Fine Chemicals which are marketed domestically and exported. the Company supplies its products to approximately 16 countries, including both direct and indirect exports. The Key customers include Essential Drugs Company Limited, Taurus Chemicals (P) Limited, Pfizer Limited, United Phosphorus Limited(Samba Jammu Unit), Shiv Silica Private Limited.

the Company raised money from public through IPO by issuing 16,72,000 Equity Shares aggregating to Rs 8.53 Crore in May, 2019.

In June, 2021, the Company started a set of new production line-up i.e. one new manufacturing block, which increases production capacity within the existing product portfolio i.e. same as per existing product portfolio and market. There are four Manufacturing Blocks at Bhavnagar which are for different products having a capacity of approx 9,700 MTPA. Block 1 - APls, Block 2 - Magnesium Hydroxide, Block 3 - Fine Chemicals and Block 4 - APls/ Fine Chemicals.