NSE: GEMAROMA · BSE: 544491
GEM AROMATICS LIMITED
Manufactures and exports essential oils, aroma chemicals and specialty ingredients from facilities at Silvassa and Dahej (via subsidiary Krystal Ingredients). The product mix spans mint-based ingredients, clove and derivatives, the cooling agent Gemcool 5, the aroma chemical Safranal, and phenol-based derivatives. FY26 standalone revenue was Rs 366.473 cr, with Q4 FY26 standalone revenue at Rs 112 cr (+34% QoQ) on improved U.S. tariff clarity. The Dahej greenfield facility tripled installed capacity to 16,171 MTPA and is the company's main growth lever, with commercial production of Gemcool 5 and Safranal commencing in February 2026. Revenue split in FY26 was 44% exports and 56% domestic, with the U.S. a key export market. Raw materials dominate the cost base at 88.3% of revenue, with phenol prices flagged as a near-term headwind that has delayed phenol-derivative production. A wholly owned subsidiary in Brazil is being set up to distribute essential oils and aroma chemicals. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Mint-based specialty ingredients, Clove and derivatives, Cooling agents (Gemcool 5), Safranal, Phenol derivatives. Asset-heavy specialty chemicals and aroma ingredients, currently in a capacity-expansion phase
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 366 |
| EBITDA (ex other income) | 41 |
| margin % | 11.1 |
| Owners' profit | 1 |
| EPS, as reported (₹) | 0.28 |
| ROE % · ROCE % | 0.3 · 4.0 |
| Debt / equity (x) | 0.33 |
| Cash from operations | 30 |
| Capex | (95) |
Exhibit 2: Quarterly performance, last 5 quarters
| ₹ crore | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|
| Revenue | 88 | 90 | 79 | 110 | 99 |
| Profit before tax | 11 | (3) | (6) | 4 | (9) |
| Net profit | 8 | (3) | (5) | 1 | (8) |
| EPS (₹) | 1.70 | (0.04) | (1.04) | 0.19 | (1.56) |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 6 Oct 2026 · Reg 74(5) Certificate from RTA for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · Gem Aromatics GM Research and Development resigns | management changes | medium | — | — |
| 24 Sept 2026 · Trading window closure for insiders from October 1 ahead of Q2 results | compliance | minimal | — | — |
| 22 Sept 2026 · Inter-company loan converted into equity of WOS Krystal Ingredients | strategic transactions | medium | — | — |
| 22 Sept 2026 · Revised Annual Report for FY 2025-26 submitted to exchanges | investor communications | medium | — | — |
| 20 Aug 2026 · Gem Aromatics Q1 FY27 call: consolidated loss on Dahej ramp-up, new verticals progressing | investor communications | medium | — | — |
| 19 Aug 2026 · AGM voting results: All 13 resolutions passed with over 99.95 percent approval | board shareholder meetings | low | — | — |
| 19 Aug 2026 · 29th AGM held via VC; financials adopted, key director appointments approved | board shareholder meetings | medium | — | — |
| 14 Aug 2026 · Gem Aromatics publishes Q1 FY27 results in newspapers | compliance | minimal | — | — |
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.