ATUL

Atul Limited

Specialty chemicals across life science and performance segments

Commodities›Chemicals›Chemicals & Petrochemicals›Specialty Chemicals

atul.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹6196.50
Market cap
18,243 Cr
Stock P/E
22.9
P/B
2.93
Dividend yield
0.4%
ROE (FY26)
10.8%
ROCE (FY26)
14.4%
Operating margin (FY26)
11.3%
Debt / equity (FY26)
0.03
OCF / EBITDA (FY26)
99.2%
OCF / EBITDA (3Y)
88.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Atul is a specialty chemicals maker that sells performance chemicals, bulk chemicals and intermediates, textile dyes, pharmaceutical ingredients and crop protection products to industrial and farm customers, and it is part of the Lalbhai Group.

Company snapshot

7thBy market cap

Ranked among 68 companies in Specialty Chemicals.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 81.7% of revenue

SegmentRevenue shareRevenuePBTAssets
Life Science Chemicals
32.7%
416 Cr96 Cr1,335 Cr
Others
1.5%
19 Cr3 Cr221 Cr
Performance and other chemicals
81.7%
1,041 Cr75 Cr3,712 Cr

Shares add up to 116% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓89% of operating profit came in as cash over the last three years — profits are backed by real cash.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,194 Cr1,138 Cr1,212 Cr1,322 Cr1,393 Cr1,417 Cr1,452 Cr1,478 Cr1,552 Cr1,574 Cr1,670 Cr1,848 Cr
Operating expenses (approx.)1,039 Cr986 Cr1,065 Cr1,099 Cr1,150 Cr1,193 Cr1,229 Cr1,243 Cr1,284 Cr1,327 Cr1,389 Cr1,454 Cr
EBITDA155 Cr152 Cr148 Cr223 Cr243 Cr224 Cr223 Cr236 Cr267 Cr247 Cr281 Cr394 Cr
OPM %13.0%13.3%12.2%16.9%17.4%15.8%15.4%15.9%17.2%15.7%16.8%21.3%
Other income22 Cr15 Cr13 Cr13 Cr32 Cr16 Cr49 Cr26 Cr49 Cr39 Cr90 Cr33 Cr
Interest2 Cr2 Cr5 Cr5 Cr9 Cr4 Cr5 Cr5 Cr5 Cr4 Cr4 Cr4 Cr
Depreciation54 Cr61 Cr76 Cr77 Cr78 Cr81 Cr82 Cr82 Cr81 Cr80 Cr79 Cr78 Cr
Profit before tax124 Cr105 Cr83 Cr158 Cr191 Cr158 Cr186 Cr177 Cr231 Cr203 Cr303 Cr346 Cr
Tax %26.2%31.7%29.2%28.9%26.9%25.8%30.1%25.2%21.1%19.6%30.3%26.7%
Net profit91 Cr72 Cr59 Cr112 Cr140 Cr117 Cr130 Cr132 Cr182 Cr164 Cr211 Cr254 Cr
EPS (₹)₹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 (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,996 Cr3,338 Cr4,038 Cr4,093 Cr3,731 Cr5,081 Cr5,428 Cr4,726 Cr5,583 Cr6,274 CrSign in free for the trailing twelve months
Operating expenses (approx.)2,487 Cr2,833 Cr3,271 Cr3,191 Cr2,814 Cr4,169 Cr4,653 Cr4,089 Cr4,670 Cr5,243 CrSign in free for the trailing twelve months
EBITDA509 Cr505 Cr767 Cr902 Cr917 Cr911 Cr775 Cr637 Cr913 Cr1,031 CrSign in free for the trailing twelve months
OPM %17.0%15.1%19.0%22.0%24.6%17.9%14.3%13.5%16.4%16.4%Sign in free for the trailing twelve months
Other income53 Cr26 Cr35 Cr78 Cr103 Cr76 Cr115 Cr58 Cr109 Cr203 CrSign in free for the trailing twelve months
Interest25 Cr13 Cr7 Cr9 Cr9 Cr9 Cr8 Cr11 Cr24 Cr17 CrSign in free for the trailing twelve months
Depreciation95 Cr110 Cr119 Cr130 Cr136 Cr177 Cr198 Cr243 Cr317 Cr322 CrSign in free for the trailing twelve months
Profit before tax446 Cr412 Cr680 Cr845 Cr882 Cr802 Cr688 Cr451 Cr692 Cr915 CrSign in free for the trailing twelve months
Tax %27.5%31.8%35.9%20.6%25.1%25.6%26.3%28.1%28.0%24.6%Sign in free for the trailing twelve months
Net profit323 Cr281 Cr436 Cr671 Cr660 Cr597 Cr507 Cr324 Cr499 Cr689 CrSign in free for the trailing twelve months
EPS (₹)₹109.01₹94.82₹147.00₹224.69₹221.17₹204.23₹174.15₹109.54₹164.37₹230.25Sign in free for the trailing twelve months
Dividend payout %————0.0%9.9%1.6%22.8%11.8%10.7%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital30 Cr30 Cr30 Cr30 Cr30 Cr30 Cr30 Cr29 Cr29 Cr29 Cr
Reserves1,936 Cr2,214 Cr2,676 Cr3,125 Cr3,797 Cr4,399 Cr4,642 Cr5,085 Cr5,569 Cr6,193 Cr
Borrowings145 Cr16 Cr52 Cr97 Cr102 Cr138 Cr47 Cr232 Cr198 Cr180 Cr
Other liabilities601 Cr734 Cr762 Cr872 Cr978 Cr1,108 Cr1,002 Cr1,081 Cr1,141 Cr1,424 Cr
Total liabilities2,727 Cr3,014 Cr3,544 Cr4,150 Cr4,937 Cr5,706 Cr5,768 Cr6,476 Cr7,001 Cr7,900 Cr
Fixed assets (net)999 Cr1,000 Cr1,049 Cr1,062 Cr1,357 Cr1,576 Cr1,714 Cr2,737 Cr2,792 Cr2,619 Cr
CWIP59 Cr96 Cr172 Cr368 Cr250 Cr420 Cr1,033 Cr281 Cr124 Cr110 Cr
Investments429 Cr470 Cr755 Cr1,141 Cr1,364 Cr1,342 Cr884 Cr1,395 Cr1,769 Cr2,595 Cr
Loans & advances——0.15 Cr0.15 Cr0.13 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Inventories419 Cr411 Cr521 Cr503 Cr594 Cr864 Cr789 Cr618 Cr729 Cr815 Cr
Trade receivables519 Cr723 Cr698 Cr720 Cr733 Cr989 Cr845 Cr927 Cr1,126 Cr1,271 Cr
Cash & bank23 Cr43 Cr38 Cr26 Cr47 Cr58 Cr38 Cr60 Cr51 Cr85 Cr
Other assets279 Cr270 Cr310 Cr331 Cr592 Cr457 Cr465 Cr458 Cr409 Cr404 Cr
Total assets2,727 Cr3,014 Cr3,544 Cr4,150 Cr4,937 Cr5,706 Cr5,768 Cr6,476 Cr7,001 Cr7,900 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity392 Cr356 Cr404 Cr881 Cr718 Cr231 Cr707 Cr667 Cr603 Cr1,023 Cr
Cash from investing-173 Cr-130 Cr-407 Cr-786 Cr-646 Cr-168 Cr-469 Cr-683 Cr-495 Cr-895 Cr
Cash from financing-212 Cr-207 Cr-1 Cr-108 Cr-52 Cr-57 Cr-257 Cr38 Cr-84 Cr-98 Cr
Net cash flow7 Cr18 Cr-5 Cr-12 Cr21 Cr11 Cr-20 Cr22 Cr25 Cr34 Cr
Free cash flow (OCF − Capex)175 Cr213 Cr195 Cr507 Cr395 Cr-359 Cr-168 Cr164 Cr333 Cr848 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %22.2%18.6%24.7%26.1%22.5%17.6%14.6%8.6%12.2%14.4%
ROE %16.3%12.2%16.0%20.9%17.0%13.4%10.9%6.3%8.5%10.8%
Debtor days63796364727157727374
Inventory days10986861011351211101029591
Days payable889663961288975968095
Cash conversion cycle846986697910392788870
OCF / EBITDA %76.9%70.4%52.6%97.7%78.3%25.4%91.2%104.8%66.1%99.2%
OCF / EBITDA % (3 years)——64.6%75.5%77.5%67.0%63.6%69.1%85.1%88.9%
Debt / equity0.070.00710.020.030.030.030.010.050.040.03
Current ratio1.922.382.882.843.182.692.492.563.333.61
Net debt / EBITDA0.24-0.050.020.080.060.090.010.270.160.09