MarketFriction

Atul Ltd

NSE ATUL · BSE 500027 · Specialty Chemicals
₹5,861.00 -0.92%
NSE close2026-10-01
52 week range5,560.50 - 7,180.00
Market cap₹17,614 Cr.
P/E22.1
Results 23-10 Nifty 500Smallcap 250 Price band 20% Delivery 52.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,1941,1381,2121,3221,3931,4171,4521,4781,5521,5741,6701,848
Expenses1,0399861,0651,0991,1501,1931,2291,2421,2841,3271,3891,454
Operating Profit155152148223243224223236267247281394
OPM %13%13%12%17%17%16%15%16%17%16%17%21%
Other Income241716163519502850409235
Interest225594555444
Depreciation546176777881828281807978
Profit before tax12410583158191158186177231203289347
Tax %26%32%29%29%27%26%30%25%21%20%27%27%
Net Profit917259112140117130132182164211254
EPS in Rs30.6024.0419.8438.0046.4736.9342.9743.4060.8854.6071.3883.32
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,5952,8343,5144,0384,0933,7315,0815,4284,7265,5836,2746,643
Expenses2,1342,3243,0083,2703,1912,8134,1684,6204,0864,6655,2405,455
Operating Profit4615105057689029189138076399181,0341,189
OPM %18%18%14%19%22%25%18%15%14%16%16%18%
Other Income3757303883109828665115206217
Interest2825137999811241717
Depreciation6695110119130136177198243317322318
Profit before tax4044464126808458828106884516929001,070
Tax %32%28%32%36%21%25%25%26%28%28%23%
Net Profit274323281436671660605507324499689811
EPS in Rs92.44108.8893.21145.72224.69221.64204.23174.19109.71164.37230.25270.18
Dividend Payout %9%9%13%10%12%9%12%19%18%15%13%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth9%11%5%16%
Compounded Profit Growth9%1%9%59%
Stock Price CAGR10%-9%-5%-1%
Return on Equity13%11%9%11%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital303030303030303030292929
Reserves1,0091,5851,9362,2142,6763,1253,7974,3994,6425,0855,5696,192
Borrowings299316168165510812714452237202183
Other Liabilities4855355917497838809821,1171,0281,1041,1791,465
Total Liabilities1,8232,4652,7243,0093,5434,1444,9355,6905,7526,4556,9807,870
Fixed Assets5147501,0261,0271,1041,1251,4181,6341,7702,7922,8472,676
CWIP11218059961723682504201,033281124110
Investments663824294707521,1371,3611,3398811,3921,7662,592
Other Assets1,1311,1541,2101,4151,5151,5131,9062,2972,0681,9902,2422,492
Total Assets1,8232,4652,7243,0093,5434,1444,9355,6905,7526,4556,9807,870
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3064013923564048817182317076676031,023
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/OP95%111%93%91%86%122%100%47%112%121%82%113%
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%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters45.05%45.06%45.17%45.17%45.17%45.18%45.18%45.18%45.21%45.22%45.22%45.33%
FIIs7.71%8.06%8.47%8.63%9.66%11.22%9.79%8.77%8.31%7.45%7.50%7.44%
DIIs26.50%26.08%25.67%25.81%24.54%22.78%23.62%24.97%24.95%25.41%25.89%25.93%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.00%0.00%0.00%
Public20.73%20.79%20.69%20.39%20.63%20.82%21.40%21.05%21.51%21.92%21.37%21.30%
No. of Shareholders66,77665,75766,58967,75360,35459,11059,64255,50556,95157,26356,85556,570

Fundamentals

Market Cap₹ 17,614 Cr.
Current Price₹ 5,982
Stock P/E22.1
Book Value₹ 2,113
ROCE14.9 %
ROE11.5 %
Dividend Yield0.50 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)16%
Compounded Profit Growth (TTM)59%
Consolidated figures.
Valuation
Market capRs 17,273 Cr
Enterprise valueRs 17,362 Cr
P/E (TTM)21.72x
Price to book2.78x
Price to sales2.60x
EV / EBITDA12.35x
EV / EBIT15.97x
EV / sales2.61x
Price to cash flow16.89x
Earnings yield4.60%
Dividend yield0.51%
P/E, 3-year average39.14x
P/B, 3-year average3.19x
P/E, 5-year average41.57x
P/B, 5-year average4.17x
Profitability
Operating margin (excl. other income)16.48%
Operating margin (incl. other income)19.77%
EBITDA margin21.15%
Pre-tax margin16.11%
Net profit margin11.97%
Net margin, latest quarter13.27%
ROE11.47%
ROCE15.04%
ROA9.13%
ROE, 3-year average9.04%
ROCE, 3-year average12.35%
ROA, 3-year average7.21%
ROE, 5-year average10.61%
ROCE, 5-year average14.25%
ROA, 5-year average8.40%
ROIC (approx.)13.19%
Tax rate23.44%
Other income / net worth3.32%
Growth
Sales growth (latest year)12.36%
Profit growth (latest year)40.08%
Sales CAGR, 3 years4.95%
Sales CAGR, 5 years10.95%
Profit CAGR, 3 years9.66%
Profit CAGR, 5 years0.67%
Sales growth QoQ10.65%
Profit growth QoQ16.73%
Sales growth YoY (latest quarter)25.03%
Profit growth YoY (latest quarter)91.99%
Per share
EPS (TTM)Rs 269.90
EPS (latest year)Rs 230.02
EPS (latest quarter)Rs 83.23
EPS, 3-year averageRs 167.94
EPS, 5-year averageRs 176.37
Book value per shareRs 2,111.16
Sales per shareRs 2,254.19
Cash flow per shareRs 347.03
Free cash flow per shareRs 288.75
Dividend per share (latest year)Rs 29.99
Dividend per share, 3-year averageRs 24.99
Dividend per share, 5-year averageRs 26.49
Dividends
Dividend payout13.04%
Dividend payout, 3-year average15.50%
Dividend payout, 5-year average15.48%
Efficiency
Asset turnover0.80x
Fixed asset turnover2.34x
Inventory turnover5.26x
Inventory days69 days
Debtor days74 days
Debtors turnover4.94x
Creditor days94 days
Cash conversion cycle70 days
Working capital days69 days
Leverage
Total debtRs 183 Cr
Cash and bankRs 95 Cr
Net debtRs 88 Cr
Debt to equity0.03x
Net debt / EBITDA0.06x
Interest coverage64.29x
Current ratio (filing 2026-03-31)3.61x
Quick ratio (filing 2026-03-31)2.89x
Trade payables (filing 2026-03-31)Rs 852 Cr
Owners' fund to total sources79.06%
Debt to assets2.33%
Cash flow
Cash from Operating Activity (latest year)Rs 1,023 Cr
Cash from Investing Activity (latest year)Rs -891 Cr
Cash from Financing Activity (latest year)Rs -98 Cr
Net Cash Flow (latest year)Rs 34 Cr
Free cash flow (latest year)Rs 851 Cr
FCFE (approx.: FCF + change in debt)Rs 832 Cr
Cash from ops / profit, 5 years1.23x
Sales to cash flow6.13x
Statement figures
Net sales (TTM)Rs 6,643 Cr
Net sales (latest year)Rs 6,274 Cr
Sales (latest quarter)Rs 1,848 Cr
Operating profit excl. other income (latest year)Rs 1,034 Cr
Operating profit (latest quarter)Rs 394 Cr
Other income (TTM)Rs 217 Cr
EBITDA (TTM)Rs 1,405 Cr
PBDT (TTM)Rs 1,388 Cr
Profit before tax (TTM)Rs 1,070 Cr
Tax (latest year)Rs 211 Cr
Net profit (TTM)Rs 795 Cr
Net profit (latest year)Rs 678 Cr
Net profit (latest quarter)Rs 245 Cr
Depreciation (TTM)Rs 318 Cr
Depreciation (latest quarter)Rs 78 Cr
Interest (TTM)Rs 17 Cr
Cost of goods sold (latest year)Rs 4,285 Cr
Total expenditure (latest year)Rs 5,240 Cr
Total income (latest year)Rs 6,480 Cr
Share capitalRs 29 Cr
ReservesRs 6,192 Cr
Shareholders' fundsRs 6,222 Cr
Total assetsRs 7,870 Cr
Net blockRs 2,676 Cr
Capital work in progressRs 110 Cr
InvestmentsRs 2,592 Cr
ReceivablesRs 1,271 Cr
InventoryRs 815 Cr
Other liabilitiesRs 1,465 Cr
Shares outstanding (crore)2.95
Ownership
Promoter holding45.33% (+0.15 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 21.7 is at the 3th percentile of its own 9.4-year range (median 34.5, low 19.9, high 72.7).
P/B 2.78 is the lowest in 9.4 years (median 4.41).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodATULNifty 50Difference
1 week-4.5%-2.8% -1.7 pts
1 month-9.2%-6.8% -2.4 pts
3 months-10.6%-7.6% -3.0 pts
6 months-8.0%+0.4% -8.4 pts
1 year-5.8%-9.9% +4.1 pts
2 years-23.3%-13.6% -9.7 pts
3 years-16.8%+14.2% -31.0 pts
5 years-39.8%+27.9% -67.7 pts
78 mutual fund schemes hold about ₹2,799 Cr. Over three months 53 bought more and 8 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Aditya Birla SL Flexi Cap Fund0.94%272 +2%
DSP Small Cap Fund1.19%258 +0%
ICICI Pru Small Cap Fund2.28%224 +6%
ICICI Pru Small Cap Fund2.28%217 +6%
DSP Midcap Fund0.97%204 -8%
ICICI Pru Multi Cap Fund0.71%140 +3%
ICICI Pru Multi Cap Fund0.71%134 +3%
ICICI Pru Manufacturing Fund1.80%129 +19%
DSP ELSS Tax Saver Fund0.71%119 +10%
DSP Large & Mid Cap Fund0.59%109 +8%
ICICI Pru Balanced Advantage Fund(M0.14%104 +6%
ICICI Pru Business Cycle Fund0.65%103 +28%
Kotak Small Cap Fund0.48%95 +5%
Mirae Asset Small Cap Fund1.42%81 -6%
DSP Multi Asset Allocation Fund0.72%79 +100%
DSP Flexi Cap Fund0.43%54 +8%
ICICI Pru Children's Fund3.74%54 +2%
Mirae Asset Aggressive Hybrid Fund0.47%45 +9%
Aditya Birla SL Aggressive Hybrid Fund0.56%40 +8%
Bandhan Flexi Cap Fund0.51%38 +87%
DSP India T.I.G.E.R Fund0.57%37 +7%
ICICI Pru Commodities Fund0.79%34 +1%
ICICI Pru Mid Cap Fund0.31%26 +3%
ICICI Pru Mid Cap Fund0.31%25 +3%
JioBlackRock Flexi Cap Fund0.68%22 +1455%

Red flags

F-score 7 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹1,848 Cr +25.0% vs Jun 2025. Net profit ₹254 Cr +92.4%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-17Dividend - Rs 30 Per Share
2025-07-11Dividend - Rs 25 Per Share
2024-07-12Annual General Meeting/Dividend - Rs 20 Per Share
2023-11-20Buy Back
2023-07-14Annual General Meeting/Dividend - Rs 25 Per Share
2022-11-02Special Interim Dividend - Rs 7.50 Per Share
2022-07-14Annual General Meeting/Dividend - Rs 25 Per Share
2021-07-15 Annual General Meeting/Dividend - Rs 20 Per Share
2020-03-18 Interim Dividend - Rs 15 Per Share
2019-11-04 Special Dividend - Rs 12.5 Per Sh
2019-07-11 Annual General Meeting / Dividend - Rs 15 Per Share
2018-07-12 Dividend Rs - 12/- Per Share
2017-07-13 Dividend - Rs 10/- Per Share
2016-07-14 Dividend - Rs 10/- Per Share
2015-06-18Annual General Meeting/Dividend - Rs 8.50/- Per Share
2014-06-20Annual General Meeting / Dividend Rs 7.50/- Per Share
2013-06-21Annual General Meeting/Dividend Rs 6 Per Share
2012-06-21Annual General Meeting/Dividend Rs 4.50 Per Share
2011-06-29Annual General Meeting And Dividend Rs.4.50 Per Share
2010-07-29Annual General Meeting And Dividend Rs.4/- Per Share
2009-06-29Agm/Div-Rs.3/- Per Share
2008-07-18Agm/Div-Rs.3 Per Share
2007-07-30Agm/Div-Rs.3/- Per Sh
2006-06-29Agm/Div-Rs.3/- Per Sh
DateTypeWhat it says
2026-09-07Updates.
2026-08-06Shareholder meetingNotice of Postal Ballot
2026-08-05General UpdatesGeneral Updates
2026-07-31Shareholder meetingProceedings of Annual General Meeting held on July 31, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with v...
2026-07-25General UpdatesGeneral Updates
2026-07-24AppointmentAppointment of Mr Vinayak Deshpande as Independent Director of the company w.e.f. August 01, 2026.
2026-07-24Capacity additionCapacity addition
2026-07-24Board meeting outcomeAtul Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-20Change in ManagementChange in Management
2026-07-07UpdatesBusiness Responsibility and Sustainability Report 2025-26.
2026-07-07General UpdatesGeneral Updates Communication to the members holding shares in physical mode regarding Integrated annual report 2025-26
2026-07-07Shareholder meetingNotice of Annual General Meeting to be held on July 31, 2026
2026-06-03Disclosure under SEBI TakeovSunil S. Lalbhai has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial ...
2026-06-02General UpdatesGeneral Updates
2026-05-13Product launchProduct launch
2026-04-24Change in ManagementChange in Management
2026-04-24General UpdatesDividend
2026-04-24Record DateRecord date for the purpose of DI is 17-Jul-2026.
2026-04-24Board meeting outcomeAtul Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-17General UpdatesGeneral Updates
2026-02-23Change in ManagementChange in Management
2026-02-06IncorporationIncorporation
2026-01-23General UpdatesGeneral Updates
2026-01-23Board meeting outcomeAtul Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-01-05Concall / analyst meetSchedule of meet
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03