Vinati Organics Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹10,766 Cr
- P/E
- 21.59
- ROE
- 16.20%
- PEG
- 4.17
- Price to sales
- 4.52
- Debt to equity
- 0.00
- 52W high / low
- ₹1,701 / ₹1,039
- Sales growth (5Y)
- 18.48%
- EBITDA margin
- 29.53%
- Net profit margin
- 21.89%
- Promoter holding
- 74.29%
- Sales (last year)
- ₹2,384 Cr
Guidance scorecard · Q4 FY26 call
What Vinati Organics Ltd's management guided
and where it ranks in Chemicals & Petrochemicals
Chemicals & Petrochemicals
RevenueQ4 FY26 call
10–20%- FY26 growth was similar to FY25, around 5%.
- Targeting approximately 15% volume growth at the company level in FY27.
- Antioxidants segment delivered 15% revenue growth in FY26 and expected to maintain strong momentum in FY27.
- ATBS expected to see 15% volume growth year-on-year for the next 3 years.
- Yl phenols expect moderate growth in FY27.
- IB and HP-MTBE expected to achieve double-digit growth in FY27.
- IBB volumes declined in FY26 due to raw material unavailability but production and sales are now back on track.
2 more points from Vinati Organics Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what Vinati Organics Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- FY26 capex was approximately INR 270 crores, including investments in VOPL for capacity expansion, new product development, and operational scalability.
- FY27 capex is earmarked at around INR 200-250 crores focusing on capacity expansion, innovation, and operational efficiency.
- Major portion (~INR 200 crores) of FY27 capex will be through the main holding company Vinati Organics Limited; INR 40-50 crores through subsidiary VOPL.
- The ATBS capacity expansion completed, with further utilization expected from FY28 onwards.
- Process reengineering at VOPL expected to be completed by September 2026; revenue contribution from Q3 FY27.
2 more points from Vinati Organics Ltd's call on capex
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FundraisingQ4 FY26 call
None plannedSee what Vinati Organics Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- Management indicated stable industry growth with expectations of approximately 15% volume growth in FY27.
- The company is focusing on organic expansion with planned capex of INR250-300 crores annually for product development and capacity enhancement.
- Process reengineering for certain products in the subsidiary VOPL is expected to end by September, with revenue starting from Q3 FY27.
- Management highlighted stable raw material availability and logistics, supporting uninterrupted fulfillment of orders.
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 Vinati Organics Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Vinati Organics Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 519 | 439 | 463 | 448 | 550 | 525 | 553 | 522 | 648 | 542 | 546 | 529 | 611 |
| Expenses + | 372 | 338 | 358 | 333 | 400 | 400 | 419 | 379 | 465 | 376 | 368 | 368 | 427 |
| Operating Profit | 147 | 100 | 105 | 115 | 150 | 125 | 134 | 143 | 184 | 166 | 179 | 161 | 183 |
| OPM % | 28% | 23% | 23% | 26% | 27% | 24% | 24% | 27% | 28% | 31% | 33% | 30% | 30% |
| Other Income + | 12 | 10 | 11 | 9 | 10 | 9 | 22 | 7 | 6 | 7 | 16 | 9 | 20 |
| Interest | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 17 | 17 | 17 | 19 | 19 | 20 | 21 | 20 | 20 | 21 | 22 | 24 | 25 |
| Profit before tax | 142 | 93 | 97 | 103 | 140 | 114 | 136 | 129 | 169 | 151 | 173 | 145 | 179 |
| Tax % | 26% | 25% | 25% | 25% | 25% | 25% | 22% | 26% | 25% | 26% | 25% | 25% | 23% |
| Net Profit + | 105 | 69 | 72 | 77 | 104 | 86 | 106 | 96 | 128 | 113 | 129 | 108 | 138 |
| EPS in Rs | 10.18 | 6.75 | 7.05 | 7.49 | 10.08 | 8.30 | 10.24 | 9.22 | 12.31 | 10.88 | 12.45 | 10.46 | 13.26 |
Financials of Vinati Organics Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 772 | 631 | 641 | 730 | 1,128 | 1,029 | 954 | 1,616 | 2,066 | 1,900 | 2,248 | 2,228 |
| Expenses + | 580 | 424 | 423 | 531 | 703 | 614 | 601 | 1,180 | 1,493 | 1,429 | 1,662 | 1,540 |
| Operating Profit | 192 | 207 | 218 | 198 | 425 | 415 | 353 | 435 | 573 | 471 | 587 | 688 |
| OPM % | 25% | 33% | 34% | 27% | 38% | 40% | 37% | 27% | 28% | 25% | 26% | 31% |
| Other Income + | 9 | 6 | 12 | 31 | 30 | 45 | 26 | 61 | 52 | 39 | 44 | 53 |
| Interest | 10 | 8 | 3 | 2 | 2 | 2 | 1 | 2 | 3 | 5 | 2 | 0 |
| Depreciation | 18 | 19 | 22 | 23 | 27 | 33 | 43 | 45 | 59 | 73 | 81 | 92 |
| Profit before tax | 174 | 187 | 206 | 203 | 425 | 425 | 335 | 449 | 563 | 432 | 548 | 649 |
| Tax % | 33% | 29% | 32% | 29% | 34% | 21% | 20% | 23% | 26% | 25% | 24% | 25% |
| Net Profit + | 116 | 132 | 140 | 144 | 282 | 334 | 269 | 347 | 419 | 323 | 415 | 488 |
| EPS in Rs | 11.22 | 12.75 | 13.59 | 14.00 | 27.48 | 32.48 | 26.20 | 33.73 | 40.78 | 31.19 | 40.05 | 47.05 |
| Dividend Payout % | 16% | 16% | 2% | 16% | 13% | 17% | 23% | 19% | 17% | 22% | 19% | 18% |
Financials of Vinati Organics Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | 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 | 10 | 10 |
| Reserves | 424 | 530 | 670 | 786 | 1,041 | 1,269 | 1,533 | 1,851 | 2,203 | 2,454 | 2,796 | 3,206 |
| Borrowings + | 65 | 42 | 2 | 15 | 4 | 0 | 2 | 28 | 35 | 5 | 63 | 0 |
| Other Liabilities + | 100 | 104 | 139 | 168 | 173 | 163 | 188 | 260 | 335 | 358 | 394 | 405 |
| Total Liabilities | 599 | 687 | 821 | 980 | 1,228 | 1,443 | 1,734 | 2,150 | 2,584 | 2,827 | 3,263 | 3,621 |
| Fixed Assets + | 327 | 382 | 468 | 457 | 475 | 751 | 757 | 874 | 1,159 | 1,330 | 1,382 | 1,612 |
| CWIP | 20 | 25 | 7 | 35 | 191 | 31 | 55 | 306 | 229 | 246 | 298 | 126 |
| Investments | 3 | 3 | 62 | 132 | 96 | 227 | 289 | 98 | 256 | 237 | 523 | 937 |
| Other Assets + | 249 | 278 | 284 | 356 | 465 | 434 | 633 | 872 | 940 | 1,014 | 1,059 | 946 |
| Total Assets | 599 | 687 | 821 | 980 | 1,228 | 1,443 | 1,734 | 2,150 | 2,584 | 2,827 | 3,263 | 3,621 |
Financials of Vinati Organics Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 113 | 167 | 130 | 138 | 200 | 416 | 219 | 127 | 516 | 338 | 494 | 628 |
| Cash from Investing Activity + | -53 | -72 | -27 | -39 | -243 | -197 | -198 | -256 | -333 | -353 | -480 | -485 |
| Cash from Financing Activity + | -75 | -50 | -45 | -30 | -40 | -109 | -3 | -46 | -61 | -106 | -15 | -141 |
| Net Cash Flow | -16 | 45 | 59 | 70 | -83 | 109 | 18 | -175 | 121 | -122 | -0 | 2 |
| Free Cash Flow | 56 | 91 | 32 | 92 | -6 | 279 | 137 | -40 | 216 | 109 | 308 | 491 |
| CFO/OP | 86% | 103% | 84% | 95% | 77% | 124% | 79% | 54% | 113% | 90% | 100% | 111% |
Financials of Vinati Organics Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 61 | 66 | 80 | 89 | 79 | 72 | 106 | 102 | 82 | 102 | 96 | 87 |
| Inventory Days | 44 | 55 | 79 | 79 | 64 | 79 | 115 | 85 | 79 | 72 | 66 | 99 |
| Days Payable | 17 | 28 | 40 | 61 | 37 | 47 | 62 | 52 | 41 | 36 | 43 | 40 |
| Cash Conversion Cycle | 87 | 94 | 119 | 107 | 106 | 104 | 158 | 136 | 120 | 137 | 119 | 146 |
| Working Capital Days | 58 | 60 | 118 | 113 | 111 | 97 | 138 | 144 | 109 | 140 | 107 | 146 |
| ROCE % | 38% | 36% | 33% | 28% | 46% | 37% | 24% | 26% | 27% | 19% | 21% | 21% |
Guidance history
How Vinati Organics Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 10–20% | Flat | Planned | None planned | — |
| Q4 FY25 call → | 20–40% | Flat | Planned | — | — |
| Q4 FY24 call → | 20–40% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
7 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 | −38.9% | 12% |
| Last 6 months | −21.5% | 16% |
| Last 3 months | −19.9% | 17% |
The price is 55.7% below its all-time high of ₹2,342.1 (9 Sept 2022). Stocks more than 20% below their peak have their score halved, so 15 became 7.
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 Vinati Organics Ltd: 0.4 × 12 + 0.4 × 16 + 0.2 × 17 = 15, halved to 7 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 Vinati Organics Ltd's management said in earlier quarters
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