Manufactures specialty chemicals including ATBS (used in oil and gas), butyl phenols, isobutylene derivatives (IB, HP-MTBE), antioxidants, and organic fine specialty chemicals through its wholly-owned subsidiary Veeral Organics Pvt Ltd (VOPL). ATBS is the lead product; its capacity expansion has been completed with Phase 2 coming on stream by October 2026, and management is targeting 15-20% volume growth in FY27 and 15% volume CAGR over the next three years. Antioxidants grew 15% in FY26 and, combined with butyl phenols, are guided to INR800-900 crore in two years. VOPL, which posted revenue of about INR21.94 crore in FY26, is undergoing process reengineering and is expected to contribute INR100-120 crore from Q3 FY27. A new product pipeline covers fragrance, food additives and plastic additives, with 2-3 launches planned for H2 FY27. Materials are the largest cost at 47.9% of revenue, followed by other operating expenses at 16.3% and employees at 7.9%, with depreciation at 5.0% and capex at 12.1%. FY27 capex is guided at INR200-250 crore and INR250-300 crore annually over the next 3-5 years; the company is debt-free with an INR190 crore treasury and guides to a 26-27% long-term EBITDA margin. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. ATBS, Butyl phenols, IB and HP-MTBE, Antioxidants, VOPL (organic fine specialty chemicals). Niche, capacity-driven specialty chemicals manufacturer with formula-based pricing
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,616 | 2,085 | 1,900 | 2,248 | 2,227 |
| EBITDA (ex other income) | 434 | 595 | 470 | 581 | 654 |
| margin % | 26.9 | 28.6 | 24.7 | 25.8 | 29.4 |
| Owners' profit | 347 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 33.72 | 44.56 | 31.15 | 39.09 | 42.80 |
| ROE % · ROCE % | 19.0 · 23.4 | 20.6 · 26.5 | 13.1 · 16.6 | 14.5 · 18.1 | 14.0 · 17.7 |
| Debt / equity (x) | 0.01 | 0.00 | 0.00 | 0.02 | 0.00 |
| Cash from operations | 127 | 577 | 332 | 458 | 558 |
| Capex | (174) | (278) | (398) | (500) | (270) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 553 | 522 | 648 | 542 | 550 | 531 | 604 | 696 |
| Profit before tax | 134 | 127 | 164 | 141 | 157 | 136 | 160 | 148 |
| Net profit | 104 | 94 | 123 | 104 | 115 | 101 | 124 | 109 |
| EPS (₹) | 10.06 | 9.04 | 11.87 | 10.05 | 11.08 | 9.73 | 11.95 | 10.50 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PIDILITE INDUSTRIES LTD | 1,59,479 | 60.2 | 14.43 | 42.3 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 73,583 | 34.0 | 5.24 | 22.7 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 52,514 | 85.7 | 6.64 | 41.5 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 43,836 | 55.4 | 11.03 | 39.5 | 16.7 | 16.4 | 23.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 2 Sept 2026 · Vinati Organics to meet HDFC AMC on September 7 | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Vinati Organics to hold investor meetings on September 4 | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Vinati Organics shares FY25-26 Annual Report link; 37th AGM on Sept 23, 2026 | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Newspaper clippings for 37th AGM notice and e-voting information | compliance | minimal | — | — |
| 31 Aug 2026 · Vinati Organics files BRSR for FY26 with ESG details | compliance | minimal | — | — |
| 31 Aug 2026 · Vinati Organics 37th AGM on Sep 23, 2026; final dividend Rs 8.50 per share | board shareholder meetings | medium | — | — |
| 31 Aug 2026 · Notice of 37th AGM and Integrated Annual Report FY 2025-26 | board shareholder meetings | medium | — | — |
| 27 Aug 2026 · Vinati Organics 37th AGM on Sep 23, 2026 via video conferencing | compliance | minimal | — | — |
| 26 Aug 2026 · Final dividend of Rs 8.50 per share; record date set for September 16, 2026 | corporate actions | medium | — | — |
| 26 Aug 2026 · AGM on Sep 23, 2026; Final Dividend Rs.8.50/share; Record Date Sep 16, 2026 | corporate actions | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 37.5 |
| AETHER INDUSTRIES LIMITED | 22,229 | 94.3 | 9.05 | 60.4 | 8.9 | 11.4 | — | 33.8 |
| DEEPAK NITRITE LTD | 21,769 | 27.8 | 3.71 | 22.4 | 9.4 | 10.2 | 12.6 | 21.5 |
| ATUL LTD | 18,401 | 23.1 | 2.92 | 14.9 | 10.9 | 13.3 | 10.9 | 23.1 |
| AARTI INDUSTRIES LTD | 17,846 | 33.6 | 3.00 | 18.8 | 7.0 | 4.4 | 13.0 | 16.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 30.0 | 23.4 | 63 of 103 | 39% |
| P/B | 4.3 | 2.9 | 69 of 99 | 31% |
| ROCE | 17.7 | 10.3 | 25 of 108 | 78% |
| ROE | 14.0 | 8.1 | 25 of 101 | 76% |
| Debt / Equity | 0.0 | 0.2 | 3 of 101 | 84% |
| EBITDA margin | 25.8 | 15.5 | 22 of 99 | 79% |
| Revenue growth | 28.4 | 24.4 | 36 of 94 | 62% |
| Profit growth | 4.5 | 55.1 | 70 of 92 | 24% |
| Market cap | 13440 | 732 | 14 of 107 | 88% |
| 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 |
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.
