Medicinal mushrooms offer a wide range of pharmacological properties as well as other significant health advantages owing to the presence of phytochemicals and other chemicals. This study was conducted for the chemical analysis of Polyporus versicolor, a white rot fungus and mushroom specie, naturally growing in the forests of AJK and Pakistan. For proximate analysis, P. versicolor extracts were prepared in different solvents (methanol, ethanol and aqueous) and utilized to assess the level of various primary parameters as well as phytochemicals like flavonoid, tannins and phenols. The extracts were further characterized with HPLC and FTIR analysis. The results demonstrate the higher moisture contents and dietary fibers in methanolic extract, higher crude lipids in ethanolic extract and higher carbohydrates & protein in aqueous extract. Significantly high amount of total phenols (7.26 mg/g), total flavonoids (14.53mg/g) and total tannins (4.36mg/g) observed in methanolic extract compared to other two extracts. The HPLC analysis revealed the presence of quercetin (a flavonoid) at a substantial level. FTIR analysis further confirms the representative functional groups of the flavonoids in the samples. These findings confirm the presence of medicinally important constituents in the P.versicolor. Further studies are suggested for further exploitation of its biological applications.

Key Words: White rot fungi, Phytochemicals, P.versicolor, flavonoid