On 6 Nov 2026, Atul was priced at ₹5,232.50, or 20.0× trailing earnings, against an industry P/E of 22.1×, and the shares are 27% below their 52-week high. Its ROCE of 14% is the second-lowest among the 7 largest Specialty Chemicals peers, and sales and net profit grew 4.9% and 9.7% a year over 3 years. It has almost no debt, and its dividend yield is 0.6%. It is a small-cap company with a market cap of ₹15,381 Cr, ranked 14th of 204 Specialty Chemicals companies by market cap; the shares fell 11% over the past year.
- ₹5,260.00
- ₹5,260.00
- ₹5,134.00
- ₹5,260.00
- 35.2K
Health check
- ReturnsBehind
−10.8% over a year, better than 0 of 7 peers.
- Price tagIn line
P/E 20.0 vs industry 22.1.
- GrowthSteady
Sales +4.9%, profit +9.7% a year over 3 years.
- ProfitabilityWeak
ROCE 13.5% vs peer median 24.4%.
- Balance sheetSolid
Practically debt-free, Piotroski 7 of 9.
- Red flags1 to check
Quarterly profit down 13.1% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹15,381 Cr
- Small cap
- P/E
- 20.0
- Industry 22.1
- Price to book
- 2.34
- Peers 13.33
- Dividend yield
- 0.57%
- ROE
- 12.4%
- Peers 23.0%
- ROCE
- 13.5%
- Peers 24.4%
- Debt to equity
- 0.03
- Debt ₹169 Cr
- EPS (TTM)
- ₹262.19
- Face value ₹10
- OPM (TTM)
- 16.8%
- Net margin 11.1%
- Sales growth
- +21.0%
- Latest quarter vs a year ago
- Profit growth
- −13.1%
- Latest quarter vs a year ago
- Price to sales
- 2.21
- EV/EBITDA 11.7
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly sales up 21.0% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly profit down 13.1% on a year ago.
About Atul
Atul Ltd manufactures and sells chemicals and other chemical products worldwide. The company offers 2 nitro para cresol, 2-methylcyclohexyl acetate, allyl caproate and heptanoate, ambrettolide, anethole, cresol mixture, manganese sulphate monohydrate, ortho cresol and methoxy toluene, phenyl acetic acid, skatole, and sodium sulfite and sulphate, as well as anisic aldehyde, anisyl acetate and alcohol, anisyl propanal, cresidine, cresol, cresyl acetate and…
- Headquarters
- Valsad
- Employees
- 3,338
- Sector
- Basic Materials
- ISIN
- INE100A01010
- Website
- atul.co.in
Price range
- Avg volume (3M)
- 38.3K
- 1-year return
- minus 10.8%
- From 52-week high
- minus 27.1%
Analyst consensus
Next results expected around 22 Jan 2027
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 15.3% | 0.15 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.1% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| ATULAtul | 5,232.50 | minus 0.52% | 15,381 | 20.0 | 13.3 | 13.5% | 16.8% | 0.03 | 4.9% | minus 10.8% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.1% | 0.21 | 5.8% | 6.8% |
Quarterly results
| ₹ Cr | Jun 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 1,478 | 1,574 | 1,670 | 1,848 | 1,877 | |
| 1,243 | 1,327 | 1,389 | 1,454 | 1,630 | |
| 236 | 247 | 281 | 394 | 247 | |
| 15.9% | 15.7% | 16.8% | 21.3% | 13.1% | |
| 28.1 | 39.9 | 91.5 | 35.4 | 49.9 | |
| 4.5 | 3.7 | 4.3 | 4 | 4 | |
| 82 | 79.8 | 79.2 | 78.1 | 78.1 | |
| 177 | 203 | 289 | 347 | 214 | |
| 25.2% | 19.6% | 26.9% | 26.8% | 26.0% | |
| 128 | 161 | 210 | 245 | 156 | |
| 43.40 | 54.60 | 71.38 | 83.32 | 52.89 |
Profit & loss
- Sales CAGR 3Y
- +4.9%
- Profit CAGR 3Y
- +9.7%
- EPS CAGR 3Y
- +9.8%
- ROE
- 12.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5,366 | 4,668 | 5,510 | 6,203 | |
| – | minus 13.0% | +18.0% | +12.6% | |
| 4,554 | 4,027 | 4,591 | 5,165 | |
| 813 | 641 | 919 | 1,038 | |
| 15.1% | 13.7% | 16.7% | 16.7% | |
| 63.2 | 45.2 | 43.4 | 120 | |
| 7.7 | 10.8 | 23.5 | 16.2 | |
| 198 | 243 | 317 | 322 | |
| 17.7 | 18.2 | 70.1 | 81.1 | |
| 688 | 451 | 692 | 901 | |
| 26.3% | 28.1% | 28.0% | 23.4% | |
| 514 | 323 | 484 | 678 | |
| – | minus 37.2% | +49.8% | +40.1% | |
| 174.15 | 109.54 | 164.37 | 230.25 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 29.5 | 29.5 | 29.5 | 29.5 | |
| 4,642 | 5,085 | 5,569 | 6,193 | |
| 52.2 | 237 | 202 | 183 | |
| 1,044 | 1,125 | 1,201 | 1,496 | |
| 5,768 | 6,476 | 7,001 | 7,900 | |
| 2,771 | 3,024 | 2,921 | 2,744 | |
| 1,057 | 287 | 129 | 125 | |
| 649 | 916 | 900 | 911 | |
| 239 | 496 | 878 | 1,740 | |
| 1,052 | 1,753 | 2,172 | 2,381 | |
| 5,768 | 6,476 | 7,001 | 7,900 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 707 | 667 | 603 | 1,023 | |
| −469 | −683 | −495 | −895 | |
| −257 | 37.5 | −118 | −98.5 | |
| −20.2 | 21.8 | −9.7 | 29.8 | |
| −875 | −504 | −270 | −175 | |
| −168 | 164 | 333 | 848 | |
| −96.1 | −73.8 | −58.9 | −73.6 |
Shareholding pattern
- Promoters45.33%
- Public54.67%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 45.33% | 54.67% | 0.00 | |
| 30 Jun 2026 | 45.33% | 54.67% | plus 0.11 | |
| 31 Mar 2026 | 45.22% | 54.78% | 0.00 | |
| 31 Dec 2025 | 45.22% | 54.78% | plus 0.01 | |
| 30 Sep 2025 | 45.21% | 54.79% | – |
Major shareholders
Filings & events
News
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