NSE: ATAM · BSE: 543236
ATAM VALVES LIMITED
Manufactures industrial valves, fittings, steam traps, and strainers — including gate, ball, check, and globe valves — primarily for the petroleum and natural gas industry, and operates as a single business segment. Revenue in FY26 stood at ₹47.29 crore, with a 10.43% EBITDA margin, and the company sells through a network of more than 700 dealers. The company obtained the API Spec Q1, 10th Edition certification from the American Petroleum Institute (Registration Number Q1-5561, valid until April 2029), which covers the design, manufacture, and supply of valves and enables bidding for oil and gas projects with global majors. Exports currently contribute about 3% of revenue, with management targeting 25% export share and expansion of the dealer network beyond 1,000. Raw materials account for 71.9% of revenue, making this the largest cost line, followed by employee costs at 16.2% and other operating expenses at 13.7%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacture of valves, fittings, steam traps and strainers. Small-cap, single-segment industrial valve manufacturer targeting oil and gas end-markets
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 20 | 49 | 53 | 61 | 47 |
| EBITDA (ex other income) | — | 11 | 10 | 10 | 5 |
| margin % | — | 22.3 | 18.6 | 16.5 | 10.4 |
| Owners' profit | — | 8 | 6 | 6 | 2 |
| EPS, as reported (₹) | 3.52 | 7.67 | 5.21 | 5.50 | 2.11 |
| ROE % · ROCE % | — · 18.1 | 30.7 · 39.5 | 18.8 · 28.6 | 17.3 · 24.8 | 6.3 · 11.1 |
| Debt / equity (x) | — | 0.29 | 0.41 | 0.33 | 0.39 |
| Cash from operations | 0 | (7) | 6 | (7) | 0 |
| Capex | — | (1) | (1) | (1) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17 | 17 | 15 | 12 | 11 | 10 | 13 | 12 |
| Profit before tax | 2 | 2 | 3 | 2 | 1 | (1) | 1 | 1 |
| Net profit | 2 | 2 | 2 | 1 | 1 | (1) | 1 | 1 |
| EPS (₹) | 1.45 | 1.37 | 1.86 | 1.08 | 0.78 | (0.50) | 0.75 | 0.55 |
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. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 32.5 | 26.7 | 76 of 130 | 42% |
| P/B | 1.6 | 3.1 | 36 of 112 | 69% |
| ROCE | 8.4 | 11.3 | 96 of 142 | 33% |
| ROE | 6.3 | 9.8 | 77 of 113 | 32% |
| Debt / Equity | 0.4 | 0.2 | 80 of 113 | 30% |
| EBITDA margin | 10.3 | 12.4 | 68 of 110 | 39% |
| Revenue growth | (0.7) | 20.6 | 80 of 114 | 30% |
| Profit growth | (48.7) | 17.1 | 88 of 109 | 19% |
| Market cap | 59 | 273 | 107 of 141 | 24% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Quarterly compliance certificate for share dematerialisation filed | compliance | minimal | — | — |
| 26 Sept 2026 · Trading window closed from Oct 1 for Q2/H1 FY27 results review | compliance | minimal | — | — |
| 25 Sept 2026 · Atam Valves AGM: All 11 resolutions passed, Rs 0.35 dividend declared | board shareholder meetings | low | — | — |
| 24 Sept 2026 · Atam Valves 41st AGM: Rs. 0.35 dividend, FY26 revenue Rs. 47.29 crore | board shareholder meetings | medium | — | — |
| 31 Aug 2026 · Notice of 41st AGM via newspaper advertisement on Aug 31, 2026 | compliance | minimal | — | — |
| 31 Aug 2026 · Atam Valves 41st AGM on Sep 24, 2026 at 12:00 PM in Jalandhar | compliance | minimal | — | — |
| 30 Aug 2026 · 41st AGM notice published; final dividend of Rs 0.35 per share | compliance | minimal | — | — |
| 29 Aug 2026 · Atam Valves 41st AGM on Sept 24, 2026 - Letter to Shareholders | compliance | minimal | — | — |
| 29 Aug 2026 · Atam Valves fixes 16-Sep-2026 record date for dividend and AGM | corporate actions | medium | — | — |
| 29 Aug 2026 · Atam Valves: TDS Communication on Rs 0.35 Dividend for FY26 | compliance | low | — | — |
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.