Gem Aromatics Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹727 Cr
- ROE
- 0.39%
- Price to sales
- 1.91
- Debt to equity
- 0.34
- 52W high / low
- ₹229 / ₹135
- Sales growth (5Y)
- 3.68%
- EBITDA margin
- 7.70%
- Net profit margin
- 0.39%
- Promoter holding
- 57.44%
- Sales (last year)
- ₹378 Cr
Incorporated in October 1997, Gem Aromatics Limited manufactures speciality ingredients, including essential oils, aroma chemicals, and Value-Added Derivatives in India.[1]
Guidance scorecard · Q1 FY27 call
What Gem Aromatics Ltd's management guided
and where it ranks in Chemicals & Petrochemicals
Chemicals & Petrochemicals
RevenueQ1 FY27 call
10–20%- Q1 FY27 showed YoY revenue growth despite seasonal softness, indicating positive momentum.
- New product verticals (cooling agents, Citral, Safranal, phenol derivatives) expected to contribute meaningful revenue starting Q2 to Q4 FY27.
- Cooling agents revenue will ramp up significantly by Q3 FY27 with initial orders secured and customer approvals ongoing.
- Phenol derivatives trial productions begin end-Q2 FY27; commercial production and meaningful revenue expected Q3 to Q4 FY27.
- Expansion of export markets, especially Western Hemisphere (U.S., Latin America), expected to drive volume growth.
- Scale-up of Dahej facility and Krystal Ingredients’ products to progressively increase revenue contribution through FY27 and materially in FY28.
2 more points from Gem Aromatics Ltd's call on revenue
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MarginsQ1 FY27 call
Up 2%+See what Gem Aromatics Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- The Dahej facility under Krystal Ingredients Private Limited has seen substantial capital investment with approximately INR270 crores capex, of which nearly INR265 crores have been incurred and capitalized.
- The company is progressing commercialization at Dahej, focusing on scaling new product verticals like cooling agents, phenol derivatives, and specialty aroma chemicals.
- There is a strong R&D pipeline developing new aroma chemical products targeting higher-value specialty molecules.
- Gem Aromatics has approved the incorporation of a Brazil subsidiary to expand distribution reach in Latin America, indicating strategic investment in international market presence.
2 more points from Gem Aromatics Ltd's call on capex
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FundraisingQ1 FY27 call
See what Gem Aromatics Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Meaningful revenue from these products is expected by Q3 FY ‘27.
- The company has a large pipeline of new aroma chemical products in various stages of approval and execution.
- Approvals for newer products such as cooling agents, Citral derivatives, and phenol derivatives are progressing, with commercial revenues expected from Q2 to Q4 FY ‘27.
2 more points from Gem Aromatics Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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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
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹263 Cr | 3.4 | |
| 2 | 40%+ | Flat | ₹4,375 Cr | 83.7 | |
| 3 | 40%+ | Flat | ₹3,259 Cr | 4.0 | |
| 4 | 40%+ | Flat | ₹145 Cr | 15.9 | |
| 5 | 20–40% | Up 2%+ | ₹1.81L Cr | 90.9 | |
| 6 | 20–40% | Up 2%+ | ₹48,366 Cr | 78.3 |
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Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals rankingFinancials of Gem Aromatics Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Gem Aromatics Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 92.67 | 112.22 | 96.84 | 202.22 | 87.63 | 89.53 | 78.90 | 110.41 |
| Expenses + | 78.46 | 96.87 | 83.81 | 156.35 | 72.77 | 86.48 | 71.88 | 94.70 |
| Operating Profit | 14.21 | 15.35 | 13.03 | 45.87 | 14.86 | 3.05 | 7.02 | 15.71 |
| OPM % | 15.33% | 13.68% | 13.46% | 22.68% | 16.96% | 3.41% | 8.90% | 14.23% |
| Other Income + | 0.89 | 0.73 | 0.50 | -0.43 | 1.27 | 0.98 | -1.66 | 0.30 |
| Interest | 1.10 | 1.33 | 2.22 | 3.44 | 3.52 | 3.50 | 2.58 | 2.97 |
| Depreciation | 1.69 | 1.84 | 1.89 | 1.92 | 1.82 | 3.05 | 8.71 | 9.01 |
| Profit before tax | 12.31 | 12.91 | 9.42 | 40.08 | 10.79 | -2.52 | -5.93 | 4.03 |
| Tax % | 30.30% | 24.63% | 20.81% | 31.11% | 25.95% | 2.38% | -15.85% | 74.94% |
| Net Profit + | 8.59 | 9.74 | 7.46 | 27.60 | 7.98 | -2.58 | -4.99 | 1.01 |
| EPS in Rs | 1.83 | 2.08 | 1.59 | 5.89 | 1.70 | -0.49 | -0.96 | 0.19 |
Financials of Gem Aromatics Ltd
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales + | 306 | 314 | 425 | 452 | 504 | 366 |
| Expenses + | 275 | 265 | 359 | 374 | 416 | 326 |
| Operating Profit | 31 | 49 | 66 | 78 | 88 | 41 |
| OPM % | 10% | 16% | 16% | 17% | 18% | 11% |
| Other Income + | 4 | 3 | 0 | 2 | 2 | 1 |
| Interest | 2 | 3 | 6 | 6 | 8 | 13 |
| Depreciation | 3 | 4 | 5 | 6 | 7 | 23 |
| Profit before tax | 30 | 44 | 56 | 68 | 75 | 6 |
| Tax % | 23% | 30% | 20% | 26% | 29% | 78% |
| Net Profit + | 23 | 31 | 45 | 50 | 53 | 1 |
| EPS in Rs | 129.92 | 174.74 | 250.27 | 10.69 | 11.39 | 0.27 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Gem Aromatics Ltd
Balance Sheet
Capital structure and asset base
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 9 | 9 | 10 |
| Reserves | 108 | 136 | 178 | 221 | 275 | 439 |
| Borrowings + | 55 | 78 | 90 | 112 | 225 | 152 |
| Other Liabilities + | 20 | 23 | 26 | 26 | 26 | 40 |
| Total Liabilities | 186 | 240 | 296 | 369 | 535 | 642 |
| Fixed Assets + | 24 | 36 | 36 | 50 | 54 | 253 |
| CWIP | 2 | 1 | 11 | 30 | 126 | 6 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 160 | 203 | 249 | 289 | 355 | 382 |
| Total Assets | 186 | 240 | 296 | 369 | 535 | 642 |
Financials of Gem Aromatics Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -0 | -5 | 15 | 40 | -25 | 30 |
| Cash from Investing Activity + | -5 | -15 | -18 | -50 | -92 | -101 |
| Cash from Financing Activity + | 7 | 18 | 6 | 15 | 103 | 78 |
| Net Cash Flow | 2 | -2 | 4 | 5 | -15 | 6 |
| Free Cash Flow | -6 | -19 | 1 | 1 | -130 | -65 |
| CFO/OP | 24% | 12% | 50% | 71% | 1% | 100% |
Financials of Gem Aromatics Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 63 | 46 | 68 | 37 | 102 | 76 |
| Inventory Days | 120 | 206 | 164 | 187 | 161 | 309 |
| Days Payable | 23 | 27 | 24 | 20 | 23 | 25 |
| Cash Conversion Cycle | 160 | 225 | 208 | 203 | 241 | 360 |
| Working Capital Days | 90 | 110 | 102 | 121 | 116 | 179 |
| ROCE % | 25% | 25% | 24% | 19% | 3% |
Guidance history
How Gem Aromatics Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Up 2%+ | Planned | — | Rising |
| Q4 FY26 call → | 10–20% | Up 2%+ | Planned | — | Rising |
| Q3 FY26 call → | 20–40% | Up 2%+ | Planned | — | Rising |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
9 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −39.1% | 12% |
| Last 6 months | −14.7% | 28% |
| Last 3 months | −24.1% | 9% |
The price is 56.3% below its all-time high of ₹319.05 (26 Aug 2025). Stocks more than 20% below their peak have their score halved, so 18 became 9.
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 Gem Aromatics Ltd: 0.4 × 12 + 0.4 × 28 + 0.2 × 9 = 18, halved to 9 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 29 Oct 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 Gem Aromatics Ltd's management said in earlier quarters
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