Atul Ltd.

•

atul.co.inBSE: 500027NSE: ATUL

Market Cap₹ 18,682 Cr.

Current Price

High / Low₹ 7,180 / 5,560

Stock P/E23.5

Book Value₹ 2,199

Price to Book3.02

Dividend Yield0.47 %

ROCE15.1 %

ROE11.7 %

Face Value₹ 10

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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 GENERATED

Chemicals

Hold

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.

Confidence

55%

View full sector analysis →

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

ChemicalsChemicalsChemicals

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	SOLARINDS	22390.00	101.74	202607.23	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1569.00	60.29	159705.32	1.37	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2507.70	34.39	74334.45	0.36	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4809.00	85.90	52826.86	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8697.60	56.51	44625.75	0.17	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1123.20	32.18	37835.11	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1645.90	28.66	22448.93	0.46	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1642.70	92.70	21803.20	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6345.45	23.49	18682.12	0.47	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	504.45	34.46	18297.75	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1335.35	17.19	16913.93	0.75	490.04	100.95	3256.26	22.47	12.12	25.96
12.	BASF	3692.20	24.86	15981.92	0.68	360.29	162.22	4824.26	24.57	15.23	10.46

Detailed Comparison with:

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

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
45.17	45.17	45.17	45.18	45.18	45.21	45.22	45.22	45.33
8.63	9.66	11.22	9.79	8.77	8.31	7.45	7.50	7.44
25.81	24.54	22.78	23.62	24.97	24.95	25.41	25.89	25.93
0.00	0.00	0.00	0.01	0.01	0.01	0.00	0.00	0.00
20.38	20.62	20.82	21.39	21.06	21.51	21.92	21.38	21.29

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-07

Updates

2026-09-07 - Atul Limited has informed the Exchange regarding ''.

2026-08-08

Copy of Newspaper Publication

2026-08-08 - Atul Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-06

Shareholders meeting

2026-08-06 - Atul Limited has informed the Exchange regarding Notice of Postal Ballot

2026-08-05

General Updates

2026-08-05 - Atul Limited has informed the Exchange about General Updates

2026-07-31

Shareholders meeting

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

General Updates

2026-07-25 - Atul Limited has informed the Exchange about General Updates

2026-07-24

Appointment

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

Capacity addition

2026-07-24 - Atul Limited has informed the Exchange about Capacity addition

2026-07-24

Outcome of Board Meeting

2026-07-24 - Atul Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

News

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