Atul Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Performance & Other Chemicals: 71.0% • Life Science Chemicals: 27.8% • Others: 1.2%
AI Sector View
AI GENERATEDChemicals
The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.
PROS
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 91.8% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.52x)
- Company comfortably covers its interest (52.7x coverage)
- Company has a consistent dividend-paying track record
CONS
- Company has a low return on equity of 9.2% over last 3 years
- Company has delivered a poor profit growth of 0.9% over past five years
- Though reporting repeated profits, the company pays out little dividend (13.0%)
- Expensive relative to growth - PEG of 2.2
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 22390.00 | 101.74 | 202607.23 | 0.05 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1569.00 | 60.29 | 159705.32 | 1.37 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2507.70 | 34.39 | 74334.45 | 0.36 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4809.00 | 85.90 | 52826.86 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8697.60 | 56.51 | 44625.75 | 0.17 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1123.20 | 32.18 | 37835.11 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| DEEPAKNTR | 1645.90 | 28.66 | 22448.93 | 0.46 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| AETHER | 1642.70 | 92.70 | 21803.20 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| ATUL | 6345.45 | 23.49 | 18682.12 | 0.47 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| AARTIIND | 504.45 | 34.46 | 18297.75 | 0.20 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| DEEPAKFERT | 1335.35 | 17.19 | 16913.93 | 0.75 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| BASF | 3692.20 | 24.86 | 15981.92 | 0.68 | 360.29 | 162.22 | 4824.26 | 24.57 | 15.23 | 10.46 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,182 | 1,194 | 1,138 | 1,212 | 1,322 | 1,393 | 1,417 | 1,452 | 1,478 | 1,552 | 1,574 | 1,670 | 1,848 | |
| 1,000 | 1,039 | 986 | 1,065 | 1,099 | 1,150 | 1,193 | 1,229 | 1,242 | 1,284 | 1,327 | 1,389 | 1,537 | |
| Operating Profit | 182 | 155 | 152 | 148 | 223 | 243 | 224 | 223 | 236 | 267 | 247 | 281 | 311 |
| OPM % | 15.42% | 13.00% | 13.33% | 12.17% | 16.89% | 17.43% | 15.81% | 15.36% | 15.93% | 17.24% | 15.70% | 16.81% | 16.85% |
| 8 | 22 | 15 | 13 | 13 | 32 | 16 | 49 | 26 | 48 | 39 | 90 | 33 | |
| Interest | 2 | 2 | 2 | 5 | 5 | 9 | 4 | 5 | 5 | 5 | 4 | 4 | 4 |
| Depreciation | 52 | 54 | 61 | 76 | 77 | 78 | 81 | 82 | 82 | 81 | 80 | 79 | 78 |
| Profit before Tax | 136 | 121 | 103 | 80 | 154 | 188 | 155 | 184 | 175 | 230 | 202 | 287 | 347 |
| Tax % | 26.67% | 26.73% | 32.32% | 30.43% | 29.50% | 27.39% | 26.36% | 30.33% | 25.50% | 21.26% | 19.76% | 27.06% | 26.79% |
| Net Profit | 0 | 0 | 0 | 0 | 112 | 140 | 117 | 130 | 132 | 182 | 164 | 211 | 254 |
| 35.02 | 30.60 | 24.04 | 19.81 | 38.00 | 46.47 | 36.93 | 42.97 | 43.40 | 60.88 | 54.60 | 71.38 | 83.32 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,834 | 3,296 | 4,038 | 4,093 | 3,731 | 5,081 | 5,428 | 4,726 | 5,583 | 6,274 | 6,643 | |
| 2,324 | 2,791 | 3,271 | 3,191 | 2,823 | 4,171 | 4,653 | 4,092 | 4,670 | 5,243 | 5,537 | |
| Operating Profit | 509 | 505 | 767 | 902 | 909 | 910 | 775 | 634 | 913 | 1,030 | 1,107 |
| OPM % | 17.98% | 15.33% | 18.99% | 22.04% | 24.35% | 17.90% | 14.28% | 13.42% | 16.35% | 16.42% | 16.66% |
| 53 | 26 | 35 | 78 | 111 | 78 | 115 | 61 | 109 | 204 | 210 | |
| Interest | 25 | 13 | 7 | 9 | 9 | 9 | 8 | 11 | 24 | 17 | 17 |
| Depreciation | 95 | 110 | 119 | 130 | 136 | 177 | 198 | 243 | 317 | 322 | 318 |
| Profit before Tax | 446 | 412 | 680 | 845 | 882 | 810 | 688 | 451 | 692 | 900 | 1,066 |
| Tax % | 27.51% | 31.77% | 35.91% | 20.64% | 25.14% | 25.32% | 26.34% | 28.07% | 27.97% | 23.44% | 24.33% |
| Net Profit | 323 | 281 | 436 | 671 | 660 | 605 | 507 | 324 | 499 | 689 | 806 |
| EPS | 109.01 | 94.82 | 145.72 | 224.69 | 221.17 | 204.23 | 174.15 | 109.72 | 164.38 | 230.26 | — |
| Dividend Payout % | 9.18% | 12.87% | 10.29% | 12.24% | 9.02% | 12.24% | 18.66% | 18.23% | 15.21% | 13.03% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 9%
- 5 Years:
- 11%
- 3 Years:
- 5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 9%
- 5 Years:
- 1%
- 3 Years:
- 10%
STOCK PRICE CAGR
- 10 Years:
- 12%
- 5 Years:
- -8%
- 3 Years:
- -5%
- 1 Year:
- -3%
RETURN ON EQUITY
- 10 Years:
- 14%
- 5 Years:
- 11%
- 3 Years:
- 9%
- Last Year:
- 12%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 29 | 29 | 29 |
| Minority Interest | 15 | 20 | 24 | 26 | 31 | 31 | 48 | 49 | 64 | 75 |
| 1,936 | 2,214 | 2,676 | 3,125 | 3,797 | 4,399 | 4,642 | 5,085 | 5,569 | 6,192 | |
| 201 | 49 | 90 | 125 | 142 | 152 | 60 | 238 | 204 | 178 | |
| Trade Payables | 337 | 459 | 380 | 478 | 563 | 635 | 539 | 579 | 615 | 852 |
| 292 | 340 | 595 | 573 | 574 | 656 | 621 | 600 | 654 | 705 | |
| Total Liabilities | 2,812 | 3,112 | 3,795 | 4,356 | 5,136 | 5,903 | 5,940 | 6,580 | 7,135 | 8,031 |
| 1,032 | 1,036 | 1,114 | 1,122 | 1,415 | 1,631 | 1,766 | 2,789 | 2,844 | 2,673 | |
| Capital Work in Progress | 59 | 96 | 172 | 368 | 250 | 420 | 1,033 | 281 | 124 | 110 |
| 429 | 470 | 752 | 1,137 | 1,361 | 1,339 | 881 | 1,392 | 1,766 | 2,592 | |
| 419 | 411 | 512 | 503 | 594 | 864 | 789 | 618 | 729 | 815 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 927 | 1,126 | 1,271 | |
| Cash & Bank | 28 | 49 | 54 | 35 | 348 | 69 | 52 | 72 | 65 | 95 |
| 844 | 1,050 | 1,190 | 1,191 | 1,168 | 1,580 | 1,418 | 501 | 480 | 476 | |
| Total Assets | 2,812 | 3,112 | 3,795 | 4,356 | 5,136 | 5,903 | 5,940 | 6,580 | 7,135 | 8,031 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 474 | 461 | 658 | 1,098 | 920 | 433 | 900 | 667 | 603 | 1,023 | |
| Cash from Investing | -173 | -130 | -407 | -783 | -646 | -168 | -469 | -683 | -495 | -895 |
| Cash from Financing | -212 | -207 | -1 | -111 | -52 | -57 | -257 | 38 | -118 | -98 |
| 7 | 18 | -5 | -12 | 19 | 6 | -20 | 22 | -10 | 30 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - Atul Limited has informed the Exchange regarding ''.
2026-08-08 - Atul Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-06 - Atul Limited has informed the Exchange regarding Notice of Postal Ballot
2026-08-05 - Atul Limited has informed the Exchange about General Updates
2026-07-31 - Atul Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 31, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
2026-07-25 - Atul Limited has informed the Exchange about General Updates
2026-07-24 - Atul Limited has informed the Exchange regarding Appointment of Mr Vinayak Deshpande as Independent Director of the company w.e.f. August 01, 2026.
2026-07-24 - Atul Limited has informed the Exchange about Capacity addition
2026-07-24 - Atul Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
News
Recent coverage and analyst commentary for ATUL
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