NSE: ARCL · BSE: 543993
ARCL ORGANICS LTD.
Manufactures powder resins and related commodity chemicals, with a manufacturing footprint that expanded in FY26 through the acquisition of land, plant and machinery at Kadadra, District Gandhinagar, Gujarat — Rs 23 crore from Vishvam Formalin and Rs 3 crore from Angel Resins, both facilities previously making powder resins. The group operates through itself and seven subsidiaries spanning petrochemicals, chemicals and trading (Allied Maritime, ARCL Petrochemicals, Ocilim Advisory, Wide Range Merchants, Nocnex Chemicals, Yocnex Chemicals, Suksess Chemicals); these subsidiaries contributed only Rs 218 lakh of revenue in FY26 against consolidated revenue of Rs 272.31 crore. Materials are the dominant cost at 63.7% of revenue, followed by other operating expenses at 14.7%, employee costs at 4.7% and depreciation at 2.2%, with capex at 13.0% of revenue reflecting an asset-heavy, expanding model. FY26 closed with total assets of Rs 220.33 crore, net profit of Rs 5.19 crore and an EBITDA margin of 10.29%. The company also has a pending R-Chem Industries acquisition with Rs 301 lakh parked under Other Current Assets pending share transfer and pollution control approvals. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Powder resins and commodity chemicals manufacturing, Petrochemicals and other chemicals, Subsidiary trading and advisory activities. Asset-heavy commodity chemicals and powder resins manufacturer with an ongoing capacity build-out in Gujarat.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 191 | 251 | 272 |
| EBITDA (ex other income) | 19 | 24 | 24 |
| margin % | 10.1 | 9.5 | 8.8 |
| Owners' profit | 0 | 12 | 5 |
| EPS, as reported (₹) | 14.12 | 15.42 | 6.49 |
| ROE % · ROCE % | 17.3 · 19.9 | 15.9 · 20.8 | 6.3 · 18.0 |
| Debt / equity (x) | 0.44 | 0.44 | 0.86 |
| Cash from operations | 13 | 5 | (4) |
| Capex | (21) | (10) | (35) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 60 | 56 | 62 | 72 | 67 | 86 | 53 | 65 |
| Profit before tax | 4 | 4 | 2 | 7 | 5 | 10 | (3) | 4 |
| Net profit | 3 | 2 | 2 | 6 | 4 | 7 | (9) | 3 |
| EPS (₹) | 3.46 | 2.72 | 2.24 | 7.00 | 4.99 | 8.90 | 11.01 | 3.49 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TATA CHEMICALS LTD | 15,351 | — | 0.69 | 139.2 | (7.7) | (5.0) | 7.4 | 14.4 |
| DEEPAK FERTILIZERS & PETR | 14,679 | 14.9 | 1.97 | 11.1 | 9.9 | 8.4 | 14.6 | 26.1 |
| GUJ NAR VAL FER & CHEM L | 7,529 | 7.3 | 0.83 | 5.4 | 8.9 | 10.3 | 8.7 | 22.1 |
| TANFAC INDUSTRIES LTD. | 6,923 | 56.6 | 18.55 | — | 18.8 | 24.3 | — | 16.0 |
| GUJARAT ALKALIES & CHEM | 4,105 | 61.8 | 0.79 | 8.7 | (0.0) | 0.7 | 12.4 | 18.4 |
| GHCL LIMITED | 3,565 | 7.8 | 1.00 | 4.7 | 13.3 | 16.6 | 1.1 | 23.9 |
| GRAUER & WEIL IND LTD | 3,543 | 21.6 | 3.28 | 14.4 | 15.2 | 19.2 | 14.5 | 20.4 |
| J.G.CHEMICALS LIMITED | 2,179 | 29.0 | 4.03 | 22.2 | 12.7 | 16.9 | — | 11.5 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 7.5 | 17.4 | 10 of 50 | 82% |
| P/B | 2.1 | 1.4 | 38 of 60 | 37% |
| ROCE | 14.0 | 6.0 | 14 of 62 | 79% |
| ROE | 6.3 | 5.0 | 27 of 60 | 56% |
| Debt / Equity | 0.9 | 0.2 | 50 of 60 | 17% |
| EBITDA margin | 12.1 | 13.3 | 31 of 58 | 47% |
| Revenue growth | (9.6) | 6.7 | 43 of 54 | 21% |
| Profit growth | (50.2) | 21.0 | 47 of 64 | 27% |
| Market cap | 170 | 98 | 29 of 66 | 57% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · DRT Kolkata disposes old recovery case after full settlement | regulatory legal | high | — | — |
| 6 Oct 2026 · Quarterly compliance certificate for dematerialised securities | compliance | minimal | — | — |
| 1 Oct 2026 · ARCL Organics gets GST show cause notice for about Rs 5.05 crore demand | regulatory legal | high | — | — |
| 21 Sept 2026 · AGM results: all 6 resolutions passed with 100% approval | compliance | minimal | — | — |
| 19 Sept 2026 · 34th AGM concluded; 6 resolutions including director pay hikes tabled | board shareholder meetings | low | — | — |
| 19 Sept 2026 · ARCL Organics 34th AGM: all 6 resolutions passed, family director pay raised | board shareholder meetings | low | — | — |
| 19 Sept 2026 · ARCL Organics 34th AGM: All 6 resolutions passed unanimously | results | medium | — | — |
| 16 Sept 2026 · ARCL Organics appoints Mr. Deepak Daga as Company Secretary | management changes | medium | — | — |
| 16 Sept 2026 · ARCL Organics appoints Deepak Daga as Company Secretary and Compliance Officer | management changes | medium | — | — |
| 16 Sept 2026 · ARCL Organics appoints Deepak Daga as Company Secretary | management changes | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.