VINATIORGA

Vinati Organics Limited

Specialty chemicals including ATBS/AMPS monomers and antioxidants

Commodities›Chemicals›Chemicals & Petrochemicals›Specialty Chemicals

vinatiorganics.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1135.00
Market cap
11,767 Cr
Stock P/E
26.2
P/B
3.72
Dividend yield
0.7%
ROE (FY26)
14.0%
ROCE (FY26)
18.8%
Operating margin (FY26)
24.4%
Debt / equity (FY26)
0.00
OCF / EBITDA (FY26)
85.3%
OCF / EBITDA (3Y)
79.1%

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

Vinati Organics makes specialty chemicals at Mahad in Maharashtra, led by managing director and CEO Vinati Saraf Mutreja, and sells ATBS (a monomer used in oilfield, water-treatment and other polymers), antioxidants, butyl phenols and isobutylene (IB) derivatives to industrial customers in India and abroad.

Company snapshot

12thBy market cap

Ranked among 68 companies in Specialty Chemicals.

What we see

Positives
  • ✓Net margin of 19.9% — the business keeps a healthy share of every rupee it earns.
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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
Sales448 Cr448 Cr550 Cr525 Cr553 Cr522 Cr648 Cr542 Cr550 Cr531 Cr604 Cr696 Cr
Operating expenses (approx.)337 Cr333 Cr400 Cr400 Cr420 Cr379 Cr468 Cr382 Cr383 Cr374 Cr434 Cr525 Cr
EBITDA111 Cr115 Cr150 Cr125 Cr134 Cr142 Cr180 Cr160 Cr167 Cr157 Cr170 Cr170 Cr
OPM %24.7%25.6%27.2%23.8%24.2%27.3%27.8%29.5%30.4%29.5%28.2%24.5%
Other income16 Cr9 Cr10 Cr9 Cr22 Cr7 Cr6 Cr7 Cr16 Cr9 Cr20 Cr9 Cr
Interest0.27 Cr0.99 Cr0.85 Cr0.45 Cr0.07 Cr0.09 Cr0.16 Cr0.37 Cr0.01 Cr0.01 Cr0.02 Cr0.01 Cr
Depreciation14 Cr19 Cr20 Cr21 Cr22 Cr22 Cr23 Cr26 Cr26 Cr29 Cr30 Cr32 Cr
Profit before tax113 Cr103 Cr139 Cr112 Cr134 Cr127 Cr164 Cr141 Cr157 Cr136 Cr160 Cr148 Cr
Tax %25.5%25.4%25.1%24.9%21.9%26.0%24.9%26.2%26.9%25.9%22.7%26.3%
Net profit84 Cr77 Cr104 Cr84 Cr104 Cr94 Cr123 Cr104 Cr115 Cr101 Cr124 Cr109 Cr
EPS (₹)₹8.19₹7.42₹10.05₹8.12₹10.06₹9.04₹11.87₹10.05₹11.08₹9.73₹11.95₹10.50

Profit & loss (annual)

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

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales954 Cr1,616 Cr2,085 Cr1,900 Cr2,248 Cr2,227 CrSign in free for the trailing twelve months
Operating expenses (approx.)602 Cr1,181 Cr1,489 Cr1,430 Cr1,667 Cr1,573 CrSign in free for the trailing twelve months
EBITDA353 Cr434 Cr595 Cr470 Cr581 Cr654 CrSign in free for the trailing twelve months
OPM %36.9%26.9%28.6%24.7%25.8%29.4%Sign in free for the trailing twelve months
Other income26 Cr61 Cr72 Cr39 Cr44 Cr53 CrSign in free for the trailing twelve months
Interest0.21 Cr0.26 Cr0.63 Cr4 Cr0.52 Cr0.41 CrSign in free for the trailing twelve months
Depreciation43 Cr45 Cr52 Cr73 Cr89 Cr111 CrSign in free for the trailing twelve months
Profit before tax335 Cr449 Cr615 Cr432 Cr536 Cr595 CrSign in free for the trailing twelve months
Tax %19.7%22.8%25.6%25.2%24.4%25.4%Sign in free for the trailing twelve months
Net profit269 Cr347 Cr458 Cr323 Cr405 Cr444 CrSign in free for the trailing twelve months
EPS (₹)₹26.20₹33.72₹44.56₹31.15₹39.09₹42.80Sign in free for the trailing twelve months
Dividend payout %2.1%17.8%14.6%22.4%17.9%17.6%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 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr
Reserves1,533 Cr1,818 Cr2,208 Cr2,451 Cr2,783 Cr3,151 Cr
Borrowings2 Cr18 Cr0.20 Cr5 Cr63 Cr—
Other liabilities188 Cr243 Cr329 Cr374 Cr423 Cr428 Cr
Total liabilities1,734 Cr2,090 Cr2,547 Cr2,840 Cr3,279 Cr3,590 Cr
Fixed assets (net)756 Cr872 Cr881 Cr1,488 Cr1,724 Cr2,122 Cr
CWIP56 Cr51 Cr235 Cr249 Cr438 Cr214 Cr
Investments289 Cr94 Cr227 Cr64 Cr36 Cr190 Cr
Loans & advances0.08 Cr0.29 Cr0.0018 Cr0.13 Cr0.11 Cr0.12 Cr
Inventories122 Cr176 Cr191 Cr199 Cr221 Cr311 Cr
Trade receivables277 Cr458 Cr470 Cr530 Cr592 Cr521 Cr
Cash & bank2 Cr0.95 Cr6 Cr0.37 Cr0.49 Cr4 Cr
Other assets233 Cr437 Cr538 Cr310 Cr267 Cr227 Cr
Total assets1,734 Cr2,090 Cr2,547 Cr2,840 Cr3,279 Cr3,590 Cr

Cash flows

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

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity219 Cr127 Cr577 Cr332 Cr458 Cr558 Cr
Cash from investing-198 Cr-255 Cr-367 Cr-348 Cr-443 Cr-413 Cr
Cash from financing-3 Cr-47 Cr-86 Cr-108 Cr-16 Cr-141 Cr
Net cash flow18 Cr-175 Cr124 Cr-125 Cr0.12 Cr3 Cr
Free cash flow (OCF − Capex)136 Cr-47 Cr299 Cr-66 Cr-42 Cr288 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %21.7%24.3%27.8%17.7%18.8%18.8%
ROE %17.4%19.0%20.6%13.1%14.5%14.0%
Debtor days106103821029685
Inventory days10775647268106
Days payable584940364641
Cash conversion cycle154129106137118150
OCF / EBITDA %62.1%29.2%97.0%70.6%78.9%85.3%
OCF / EBITDA % (3 years)——66.8%69.1%83.1%79.1%
Debt / equity0.00130.010.00010.00190.020.00
Current ratio6.154.644.524.533.315.40
Net debt / EBITDA0.00100.04-0.00910.00910.11-0.0058