Arthneeti

Atul Q2 FY27 Share Price & Earnings Call Analysis

₹5,073.00+0.25% today
Market cap
₹14,936 Cr
P/E
19.35
ROE
11.49%
PEG
2.24
Price to sales
2.14
Debt to equity
0.03
52W high / low
₹7,108 / ₹5,028
Sales growth (5Y)
10.95%
EBITDA margin
16.76%
Net profit margin
11.01%
Promoter holding
45.33%
Sales (last year)
₹6,969 Cr

Atul Ltd. is a diversified and integrated Indian chemical company (a part of Lalbhai Group, Gujarat). The products of the company are used in various Industries and come mainly under two segments, Life Science Chemicals and Performance and Other Chemicals under 9 Businesses. [1]

Potential multibaggers · Q2 FY27

Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Atul rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Chemicals & Petrochemicals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹234 Cr3.0
240%+Flat₹3,888 Cr48.5
340%+Flat₹3,514 Cr4.3
440%+Flat₹180 Cr11.9
540%+Flat₹138 Cr15.1
620–40%Up 2%+₹1.70L Cr85.4

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Financials of Atul

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Atul

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +45.06%45.17%45.17%45.17%45.18%45.18%45.18%45.21%45.22%45.22%45.33%45.33%
FIIs +8.06%8.47%8.63%9.66%11.22%9.79%8.77%8.31%7.45%7.50%7.44%8.90%
DIIs +26.08%25.67%25.81%24.54%22.78%23.62%24.97%24.95%25.41%25.89%25.93%25.22%
Government +0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.00%0.00%0.00%0.00%
Public +20.79%20.69%20.39%20.63%20.82%21.40%21.05%21.51%21.92%21.37%21.30%20.53%
No. of Shareholders65,75766,58967,75360,35459,11059,64255,50556,95157,26356,85556,57054,964

Financials of Atul

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,1941,1381,2121,3221,3931,4171,4521,4781,5521,5741,6701,8481,877
Expenses +1,0399861,0651,0991,1501,1931,2291,2421,2841,3271,3891,4541,630
Operating Profit155152148223243224223236267247281394247
OPM %13%13%12%17%17%16%15%16%17%16%17%21%13%
Other Income +24171616351950285040923550
Interest2255945554444
Depreciation54617677788182828180797878
Profit before tax12410583158191158186177231203289347214
Tax %26%32%29%29%27%26%30%25%21%20%27%27%26%
Net Profit +917259112140117130132182164211254159
EPS in Rs30.6024.0419.8438.0046.4736.9342.9743.4060.8854.6071.3883.3252.89

Financials of Atul

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +2,6372,5952,8343,5144,0384,0933,7315,0815,4284,7265,5836,2746,969
Expenses +2,2352,1342,3243,0083,2703,1912,8134,1684,6204,0864,6655,2405,801
Operating Profit4024615105057689029189138076399181,0341,168
OPM %15%18%18%14%19%22%25%18%15%14%16%16%17%
Other Income +93757303883109828665115206217
Interest262825137999811241716
Depreciation606695110119130136177198243317322315
Profit before tax3264044464126808458828106884516929001,053
Tax %31%32%28%32%36%21%25%25%26%28%28%23%
Net Profit +240274323281436671660605507324499689787
EPS in Rs81.1392.44108.8893.21145.72224.69221.64204.23174.19109.71164.37230.25262.19
Dividend Payout %10%9%9%13%10%12%9%12%19%18%15%13%

Financials of Atul

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital30303030303030303029292929
Reserves1,0091,5851,9362,2142,6763,1253,7974,3994,6425,0855,5696,1926,554
Borrowings +299316168165510812714452237202183169
Other Liabilities +4855355917497838809821,1171,0281,1041,1791,4651,666
Total Liabilities1,8232,4652,7243,0093,5434,1444,9355,6905,7526,4556,9807,8708,418
Fixed Assets +5147501,0261,0271,1041,1251,4181,6341,7702,7922,8472,6762,656
CWIP11218059961723682504201,033281124110122
Investments663824294707521,1371,3611,3398811,3921,7662,5922,808
Other Assets +1,1311,1541,2101,4151,5151,5131,9062,2972,0681,9902,2422,4922,833
Total Assets1,8232,4652,7243,0093,5434,1444,9355,6905,7526,4556,9807,8708,418

Financials of Atul

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +3064013923564048817182317076676031,023
Cash from Investing Activity +-167-375-175-129-408-782-645-163-469-683-494-891
Cash from Financing Activity +-124-39-212-207-1-111-52-57-25738-118-98
Net Cash Flow16-13519-5-112111-2022-934
Free Cash Flow11131180213195508396-359-167164334851
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit95%111%93%91%86%122%100%47%112%121%82%113%

Financials of Atul

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days616267756364727157727474
Inventory Days105118107838993128122101909790
Days Payable6987869366881219069848294
Cash Conversion Cycle9793886686697810389778970
Working Capital Days504665767459657768697769
ROCE %26%26%23%19%27%28%24%19%15%9%13%15%
12out of 100

Momentum score · price trend

12 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−12.2%46%
Last 6 months−27.2%11%
Last 3 months−25.3%10%

The price is 52% below its all-time high of ₹10,535.2 (8 Oct 2021). Stocks more than 20% below their peak have their score halved, so 24 became 12.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Atul: 0.4 × 46 + 0.4 × 11 + 0.2 × 10 = 24, halved to 12 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Atul's management said in earlier quarters

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