Vinati Organics Ltd.
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ABOUT
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 a healthy return on capital (ROCE) of 20.2%
- Company has delivered good sales growth of 18.5% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.19x)
- Company has a consistent dividend-paying track record
- Stock looks reasonably valued - P/E of 28.0 is below its historical median
CONS
- Working capital days have increased from 109 to 147 days
- Expensive relative to growth - PEG of 5.4
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 22470.95 | 102.11 | 203339.75 | 0.05 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1589.00 | 61.06 | 161741.08 | 1.35 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2527.85 | 34.66 | 74931.75 | 0.36 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4678.50 | 83.57 | 51393.32 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8728.90 | 56.71 | 44786.34 | 0.17 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1144.10 | 32.78 | 38539.13 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| DEEPAKNTR | 1649.05 | 28.72 | 22491.89 | 0.45 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| AETHER | 1643.35 | 92.74 | 21811.83 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| ATUL | 6312.05 | 23.36 | 18583.78 | 0.48 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| AARTIIND | 503.75 | 34.41 | 18272.36 | 0.20 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| DEEPAKFERT | 1345.50 | 17.32 | 17042.49 | 0.74 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| VINATIORGA | 1345.25 | 31.10 | 13945.62 | 0.63 | 108.86 | 4.48 | 695.91 | 28.40 | 19.81 | 24.50 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 439 | 463 | 448 | 550 | 525 | 553 | 522 | 648 | 542 | 546 | 529 | 611 | 698 | |
| 338 | 358 | 333 | 400 | 400 | 419 | 379 | 465 | 376 | 368 | 368 | 427 | 542 | |
| Operating Profit | 100 | 105 | 115 | 150 | 125 | 134 | 143 | 184 | 166 | 179 | 161 | 183 | 156 |
| OPM % | 22.89% | 22.64% | 25.60% | 27.29% | 23.84% | 24.22% | 27.37% | 28.31% | 30.58% | 32.70% | 30.39% | 29.99% | 22.36% |
| 10 | 11 | 9 | 10 | 9 | 22 | 7 | 6 | 7 | 16 | 9 | 20 | 9 | |
| Interest | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 17 | 17 | 19 | 19 | 20 | 21 | 20 | 20 | 21 | 22 | 24 | 25 | 25 |
| Profit before Tax | 93 | 97 | 103 | 140 | 114 | 136 | 129 | 169 | 151 | 173 | 145 | 179 | 165 |
| Tax % | 24.97% | 25.42% | 25.38% | 25.13% | 24.79% | 21.78% | 25.85% | 24.68% | 25.54% | 25.42% | 25.39% | 23.05% | 25.07% |
| Net Profit | 69 | 72 | 77 | 104 | 86 | 106 | 96 | 128 | 113 | 129 | 108 | 138 | 124 |
| 6.70 | 6.99 | 7.43 | 10.08 | 8.30 | 10.23 | 9.22 | 12.31 | 10.88 | 12.45 | 10.46 | 13.26 | 11.92 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 641 | 730 | 1,128 | 1,029 | 954 | 1,616 | 2,066 | 1,900 | 2,248 | 2,228 | 2,384 | |
| 423 | 531 | 703 | 614 | 601 | 1,180 | 1,493 | 1,429 | 1,662 | 1,539 | 1,705 | |
| Operating Profit | 218 | 198 | 425 | 415 | 353 | 435 | 573 | 471 | 587 | 689 | 679 |
| OPM % | 34.00% | 27.16% | 37.65% | 40.32% | 37.02% | 26.96% | 27.73% | 24.81% | 26.09% | 30.94% | 28.47% |
| 12 | 31 | 30 | 45 | 26 | 61 | 52 | 39 | 44 | 53 | 54 | |
| Interest | 3 | 2 | 2 | 2 | 1 | 2 | 3 | 5 | 2 | 1 | 0 |
| Depreciation | 22 | 23 | 27 | 33 | 43 | 45 | 59 | 73 | 81 | 92 | 96 |
| Profit before Tax | 206 | 203 | 425 | 425 | 335 | 449 | 563 | 432 | 548 | 649 | 662 |
| Tax % | 31.89% | 29.25% | 33.57% | 21.39% | 19.66% | 22.84% | 25.57% | 25.22% | 24.26% | 24.79% | 24.69% |
| Net Profit | 140 | 144 | 282 | 334 | 269 | 347 | 419 | 323 | 415 | 488 | 499 |
| EPS | 27.19 | 27.93 | 27.48 | 32.48 | 26.20 | 33.73 | 40.43 | 31.18 | 40.04 | 47.04 | — |
| Dividend Payout % | 1.84% | 16.07% | 12.73% | 16.93% | 22.90% | 19.27% | 17.16% | 22.45% | 18.73% | 18.07% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 13%
- 5 Years:
- 18%
- 3 Years:
- 3%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 14%
- 5 Years:
- 13%
- 3 Years:
- 5%
STOCK PRICE CAGR
- 10 Years:
- 16%
- 5 Years:
- -7%
- 3 Years:
- -12%
- 1 Year:
- -23%
RETURN ON EQUITY
- 10 Years:
- 21%
- 5 Years:
- 18%
- 3 Years:
- 15%
- Last Year:
- 16%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
| 670 | 786 | 1,041 | 1,269 | 1,533 | 1,818 | 2,043 | 2,454 | 2,796 | 3,206 | |
| 20 | 18 | 7 | 4 | 7 | 23 | 42 | 29 | 70 | 8 | |
| Trade Payables | 33 | 63 | 53 | 56 | 66 | 109 | 121 | 101 | 143 | 115 |
| 88 | 101 | 117 | 103 | 117 | 129 | 367 | 233 | 244 | 282 | |
| Total Liabilities | 821 | 980 | 1,228 | 1,443 | 1,733 | 2,090 | 2,584 | 2,827 | 3,263 | 3,621 |
| 468 | 457 | 475 | 751 | 757 | 873 | 1,159 | 1,330 | 1,382 | 1,612 | |
| Capital Work in Progress | 7 | 35 | 191 | 31 | 55 | 47 | 229 | 246 | 298 | 126 |
| 62 | 132 | 96 | 227 | 289 | 98 | 256 | 237 | 523 | 937 | |
| 65 | 82 | 92 | 93 | 122 | 176 | 233 | 198 | 217 | 282 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 530 | 594 | 532 | |
| Cash & Bank | 5 | 5 | 4 | 54 | 7 | 4 | 10 | 13 | 4 | 5 |
| 215 | 269 | 369 | 287 | 505 | 891 | 698 | 273 | 245 | 126 | |
| Total Assets | 821 | 980 | 1,228 | 1,443 | 1,733 | 2,090 | 2,584 | 2,827 | 3,263 | 3,621 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 184 | 187 | 327 | 516 | 280 | 235 | 646 | 338 | 494 | 628 | |
| Cash from Investing | -27 | -39 | -243 | -197 | -198 | -256 | -333 | -353 | -480 | -485 |
| Cash from Financing | -45 | -30 | -40 | -109 | -3 | -46 | -61 | -106 | -15 | -141 |
| 59 | 70 | -83 | 109 | 18 | -175 | 121 | -122 | -0 | 2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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
2026-09-02 - Vinati Organics Limited has informed the Exchange about Schedule of meet
2026-09-01 - Vinati Organics Limited has informed the Exchange about Schedule of meet
2026-09-01 - Vinati Organics Limited has informed the Exchange regarding 'Intimation Under Regulation 30 - Web Link Of The Annual Report For The Financial Year 2025-26'.
2026-09-01 - Vinati Organics Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-31 - Vinati Organics Limited has informed the Exchange regarding 'BRSR for FY 2025-26'.
2026-08-31 - Vinati Organics Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 23, 2026
2026-08-27 - Vinati Organics Limited has informed the Exchange about Copy of Newspaper Publication of 37 th Annual General Meeting of the Company.
2026-08-26 - Vinati Organics Limited has informed the Exchange that Record date for the purpose of Dividend is 16-Sep-2026.
2026-08-26 - Vinati Organics Limited has informed the Exchange about 37th Annual General Meeting of the Company is scheduled on Wednesday, September 2026 at 11 a.m. (IST) through VC
News
Recent coverage and analyst commentary for VINATIORGA
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