Atul Ltd: Intrinsic Value & Share Price Analysis

Q: What is the intrinsic value of Atul Ltd and is it undervalued?

As of 20 April 2026, Atul Ltd's intrinsic value is 3123.06, which is 51.48% lower than the current market price of 6,436.00, suggesting the stock is overvalued. Calculated using the PE ratio method factoring in ROE (9.10 %), book value (2,010), dividend yield (0.39 %), and 5-year EPS CAGR.

Q: What is the current share price and 52-week range of Atul Ltd?

Atul Ltd is trading at 6,436.00 as of 20 April 2026, with a FY2026-2027 high of 7,793 and low of 4,752. The stock is currently in the middle of its 52-week range. Market cap stands at 18,950 Cr..

Q: Is Atul Ltd financially healthy?

Key indicators: ROCE of 12.8 % is moderate. Dividend yield is 0.39 %.

Q: Is Atul Ltd profitable and how is the profit trend?

Atul Ltd reported a net profit of 499 Cr in Mar 2025 on revenue of 5,583 Cr. Compared to 605 Cr in Mar 2022, the net profit shows a declining trend.

Fair Value

₹4,686.07Overvalued by 27.19%vs CMP ₹6,436.00

P/E (31.9) × ROE (9.1%) × BV (₹2,010.00) × DY (0.39%)

₹3,123.06Overvalued by 51.48%vs CMP ₹6,436.00

MoS: -106.1% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹4,675.09	22%	Over (-27.4%)
Graham Number	Earnings	₹3,021.37	16%	Over (-53.1%)
Earnings Power	Earnings	₹1,270.35	13%	Over (-80.3%)
DCF	Cash Flow	₹2,193.11	13%	Over (-65.9%)
Net Asset Value	Assets	₹2,009.59	7%	Over (-68.8%)
EV/EBITDA	Enterprise	₹4,970.15	9%	Over (-22.8%)
Earnings Yield	Earnings	₹2,018.50	7%	Over (-68.6%)
ROCE Capital	Returns	₹3,694.70	9%	Over (-42.6%)
Revenue Multiple	Revenue	₹2,844.24	5%	Over (-55.8%)
Consensus (9 models)		₹3,123.06	100%	Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -0.2%

*Investments are subject to market risks

Analyst Summary

Atul Ltd operates in the Agro Chemicals/Pesticides segment, NSE: ATUL | BSE: 500027, current market price is ₹6,436.00, market cap is 18,950 Cr.. At a glance, stock P/E is 31.9, ROE is 9.10 %, ROCE is 12.8 %, book value is 2,010, dividend yield is 0.39 %. The latest intrinsic value estimate is ₹3,123.06, around 51.5% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹5,583 Cr versus the prior period change of 18.1%, while latest net profit is about ₹499 Cr with a prior-period change of 54.0%. This analysis page also carries profit and loss, shareholding pattern, ratio panels, mutual fund holdings data, which improves the depth of the template beyond a thin price-only snapshot. The 52-week range shown on this page is 7,793/4,752, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisAtul Ltd. is a Public Limited Listed company incorporated on 11/12/1975 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L99999GJ1975PLC002859 and registration number is 002859. Currently Company is involved in the bu…

This summary is generated from the stock page data available for Atul Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Atul Ltd scores 60/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health72/100 · Strong

ROCE 12.8% GoodROE 9.1% AverageD/E 0.02 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money45/100 · Moderate

FII holding down -2.34% (6mo) SellingDII holding up 1.79% MF buyingPromoter holding at 45.2% Stable

Earnings Quality50/100 · Moderate

OPM stable around 15% Steady

Quarterly Momentum80/100 · Strong

Revenue (4Q): +13% YoY GrowingProfit (4Q): +42% YoY Strong

Industry Rank35/100 · Weak

P/E 31.9 vs industry 25.3 In-lineROCE 12.8% vs industry 15.2% AverageROE 9.1% vs industry 19.9% Below peers3Y sales CAGR: 3% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:35 am

Market Cap	18,950 Cr.
Current Price	6,436
Intrinsic Value	₹3,123.06
High / Low	7,793/4,752
Stock P/E	31.9
Book Value	2,010
Dividend Yield	0.39 %
ROCE	12.8 %
ROE	9.10 %
Face Value	10.0
PEG Ratio	-136.23

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Atul Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Atul Ltd	18,950 Cr.	6,436	7,793/4,752	31.9	2,010	0.39 %	12.8 %	9.10 %	10.0
Sumitomo Chemical India Ltd	18,978 Cr.	380	665/363	35.0	64.0	0.32 %	25.1 %	18.8 %	10.0
Bayer CropScience Ltd	21,318 Cr.	4,744	6,540/4,273	31.8	695	2.64 %	24.8 %	20.0 %	10.0
Sharda Cropchem Ltd	8,026 Cr.	890	1,298/440	14.2	297	1.01 %	16.5 %	12.6 %	10.0
Rallis India Ltd	4,540 Cr.	233	386/197	24.7	106	1.07 %	10.1 %	6.65 %	1.00
Industry Average	9,472.25 Cr	1,009.77		25.27	369.00	0.53%	15.21%	19.87%	6.67

All Competitor Stocks of Atul Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	1,268	1,195	1,182	1,194	1,138	1,212	1,322	1,393	1,417	1,452	1,478	1,552	1,574
Expenses	1,096	1,046	1,000	1,039	986	1,065	1,099	1,150	1,193	1,229	1,242	1,284	1,327
Operating Profit	172	149	182	155	152	148	223	243	224	223	236	267	247
OPM %	14%	12%	15%	13%	13%	12%	17%	17%	16%	15%	16%	17%	16%
Other Income	23	26	10	24	17	16	16	35	19	50	28	50	40
Interest	2	2	2	2	2	5	5	9	4	5	5	5	4
Depreciation	50	51	52	54	61	76	77	78	81	82	82	81	80
Profit before tax	142	122	138	124	105	83	158	191	158	186	177	231	203
Tax %	28%	24%	26%	26%	32%	29%	29%	27%	26%	30%	25%	21%	20%
Net Profit	103	92	102	91	72	59	112	140	117	130	132	182	164
EPS in Rs	35.61	31.70	35.02	30.60	24.04	19.84	38.00	46.47	36.93	42.97	43.40	60.88	54.60

Last Updated: February 6, 2026, 7:18 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 6:16 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,439	2,637	2,595	2,834	3,514	4,038	4,093	3,731	5,081	5,428	4,726	5,583	6,055
Expenses	2,075	2,235	2,134	2,324	3,008	3,270	3,191	2,813	4,168	4,620	4,086	4,665	5,082
Operating Profit	364	402	461	510	505	768	902	918	913	807	639	918	973
OPM %	15%	15%	18%	18%	14%	19%	22%	25%	18%	15%	14%	16%	16%
Other Income	36	9	37	57	30	38	83	109	82	86	65	115	168
Interest	33	26	28	25	13	7	9	9	9	8	11	24	19
Depreciation	58	60	66	95	110	119	130	136	177	198	243	317	325
Profit before tax	308	326	404	446	412	680	845	882	810	688	451	692	798
Tax %	29%	31%	32%	28%	32%	36%	21%	25%	25%	26%	28%	28%
Net Profit	219	240	274	323	281	436	671	660	605	507	324	499	608
EPS in Rs	73.90	81.13	92.44	108.88	93.21	145.72	224.69	221.64	204.23	174.19	109.71	164.37	201.85
Dividend Payout %	10%	10%	9%	9%	13%	10%	12%	9%	12%	19%	18%	15%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	9.59%	14.17%	17.88%	-13.00%	55.16%	53.90%	-1.64%	-8.33%	-16.20%	-36.09%	54.01%
Change in YoY Net Profit Growth (%)	0.00%	4.58%	3.72%	-30.89%	68.16%	-1.26%	-55.54%	-6.69%	-7.87%	-19.90%	90.11%

Atul Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	8%
5 Years:	6%
3 Years:	3%
TTM:	18%

Compounded Profit Growth
10 Years:	7%
5 Years:	-6%
3 Years:	-6%
TTM:	51%

Stock Price CAGR
10 Years:	17%
5 Years:	1%
3 Years:	-11%
1 Year:	-19%

Return on Equity
10 Years:	14%
5 Years:	11%
3 Years:	9%
Last Year:	9%

Last Updated: September 4, 2025, 10:45 pm

Balance Sheet

Last Updated: April 6, 2026, 5:00 am

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	30	30	30	30	30	30	30	30	30	30	29	29	29
Reserves	919	1,009	1,585	1,936	2,214	2,676	3,125	3,797	4,399	4,642	5,085	5,569	5,888
Borrowings	367	299	316	168	16	55	108	133	144	52	237	202	186
Other Liabilities	502	485	535	591	749	783	880	976	1,117	1,028	1,104	1,179	1,368
Total Liabilities	1,818	1,823	2,465	2,724	3,009	3,543	4,144	4,935	5,690	5,752	6,455	6,980	7,471
Fixed Assets	570	514	750	1,026	1,027	1,104	1,125	1,418	1,634	1,770	2,792	2,847	2,767
CWIP	59	112	180	59	96	172	368	250	420	1,033	281	124	109
Investments	63	66	382	429	470	752	1,137	1,361	1,339	881	1,392	1,766	2,188
Other Assets	1,126	1,131	1,154	1,210	1,415	1,515	1,513	1,906	2,297	2,068	1,990	2,242	2,408
Total Assets	1,818	1,823	2,465	2,724	3,009	3,543	4,144	4,935	5,690	5,752	6,455	6,980	7,471

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	152	306	401	392	356	404	881	718	231	707	667	603
Cash from Investing Activity +	-83	-167	-375	-175	-129	-408	-782	-645	-163	-469	-683	-494
Cash from Financing Activity +	-60	-124	-39	-212	-207	-1	-111	-52	-57	-257	38	-118
Net Cash Flow	8	16	-13	5	19	-5	-11	21	11	-20	22	-9
Free Cash Flow	38	111	31	180	213	195	508	396	-359	-167	164	334
CFO/OP	62%	95%	111%	93%	91%	86%	122%	100%	47%	112%	121%	82%

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-3.00	103.00	145.00	342.00	489.00	713.00	794.00	785.00	769.00	755.00	402.00	716.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	65	61	62	67	75	63	64	72	71	57	72	74
Inventory Days	119	105	118	107	83	89	93	128	122	101	90	97
Days Payable	89	69	87	86	93	66	88	121	90	69	84	82
Cash Conversion Cycle	95	97	93	88	66	86	69	78	103	89	77	89
Working Capital Days	47	50	46	65	76	74	59	65	77	68	69	77
ROCE %	28%	26%	26%	23%	19%	27%	28%	24%	19%	15%	9%	13%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	45.05%	45.05%	45.05%	45.06%	45.17%	45.17%	45.17%	45.18%	45.18%	45.18%	45.21%	45.22%
FIIs	8.15%	7.61%	7.71%	8.06%	8.47%	8.63%	9.66%	11.22%	9.79%	8.77%	8.31%	7.45%
DIIs	25.23%	26.16%	26.50%	26.08%	25.67%	25.81%	24.54%	22.78%	23.62%	24.97%	24.95%	25.41%
Government	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.00%
Public	21.56%	21.17%	20.73%	20.79%	20.69%	20.39%	20.63%	20.82%	21.40%	21.05%	21.51%	21.92%
No. of Shareholders	67,542	68,751	66,776	65,757	66,589	67,753	60,354	59,110	59,642	55,505	56,951	57,263

Shareholding Pattern Chart

No. of Shareholders

Atul Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
DSP Mid Cap Fund	521,497	1.7	323.98	698,092	2025-12-07 06:22:13	-25.3%
Aditya Birla Sun Life Flexi Cap Fund	407,556	1.03	253.19	350,160	2025-12-08 01:35:30	16.39%
DSP Small Cap Fund	403,746	1.55	250.83	380,193	2025-12-07 00:37:57	6.2%
ICICI Prudential Smallcap Fund	347,874	2.66	216.12	346,657	2025-12-15 04:32:43	0.35%
ICICI Prudential Multicap Fund	225,995	0.89	140.4	112,704	2025-12-07 06:22:13	100.52%
Aditya Birla Sun Life Midcap Fund	197,756	2.03	122.86	163,780	2025-12-15 02:07:49	20.74%
Franklin India Small Cap Fund	165,000	0.8	102.51	N/A	N/A	N/A
ICICI Prudential Balanced Advantage Fund	162,818	0.14	101.15	N/A	N/A	N/A
DSP ELSS Tax Saver Fund	157,993	0.57	98.15	157,962	2025-12-15 04:32:44	0.02%
ICICI Prudential Manufacturing Fund	154,343	1.52	95.89	164,302	2026-02-22 17:35:05	-6.06%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	164.37	109.54	174.15	204.23	221.17
Diluted EPS (Rs.)	164.37	109.54	174.15	204.23	221.17
Cash EPS (Rs.)	273.03	189.17	237.25	261.15	266.49
Book Value[Excl.RevalReserv]/Share (Rs.)	1900.39	1752.68	1598.18	1506.19	1302.65
Book Value[Incl.RevalReserv]/Share (Rs.)	1900.39	1752.68	1598.18	1506.19	1302.65
Revenue From Operations / Share (Rs.)	1895.23	1604.10	1837.97	1715.94	1260.21
PBDIT / Share (Rs.)	346.91	235.87	301.29	333.48	344.51
PBIT / Share (Rs.)	239.37	153.43	234.31	273.81	298.47
PBT / Share (Rs.)	231.22	149.67	231.63	270.71	295.32
Net Profit / Share (Rs.)	165.49	106.73	170.27	201.48	220.46
NP After MI And SOA / Share (Rs.)	164.27	109.65	174.09	204.07	221.47
PBDIT Margin (%)	18.30	14.70	16.39	19.43	27.33
PBIT Margin (%)	12.62	9.56	12.74	15.95	23.68
PBT Margin (%)	12.20	9.33	12.60	15.77	23.43
Net Profit Margin (%)	8.73	6.65	9.26	11.74	17.49
NP After MI And SOA Margin (%)	8.66	6.83	9.47	11.89	17.57
Return on Networth / Equity (%)	8.64	6.31	11.00	13.64	17.13
Return on Capital Employeed (%)	11.52	8.08	14.04	17.22	21.39
Return On Assets (%)	6.91	4.98	8.91	10.58	13.28
Long Term Debt / Equity (X)	0.03	0.04	0.01	0.01	0.02
Total Debt / Equity (X)	0.03	0.04	0.01	0.03	0.02
Asset Turnover Ratio (%)	0.82	0.77	0.90	0.97	0.80
Current Ratio (X)	3.33	2.56	2.49	2.69	3.18
Quick Ratio (X)	2.47	1.83	1.51	1.81	2.43
Inventory Turnover Ratio (X)	7.89	2.99	3.24	3.96	2.97
Dividend Payout Ratio (NP) (%)	12.16	22.84	18.65	9.79	0.00
Dividend Payout Ratio (CP) (%)	7.35	13.03	13.47	7.57	0.00
Earning Retention Ratio (%)	87.84	77.16	81.35	90.21	0.00
Cash Earning Retention Ratio (%)	92.65	86.97	86.53	92.43	0.00
Interest Coverage Ratio (X)	42.62	62.71	112.62	107.68	109.10
Interest Coverage Ratio (Post Tax) (X)	21.33	29.38	64.65	66.06	70.81
Enterprise Value (Cr.)	18266.29	17113.34	20598.53	30563.70	20735.76
EV / Net Operating Revenue (X)	3.27	3.62	3.80	6.02	5.56
EV / EBITDA (X)	17.87	24.63	23.15	30.95	20.33
MarketCap / Net Operating Revenue (X)	3.24	3.58	3.79	6.00	5.61
Retention Ratios (%)	87.83	77.15	81.34	90.20	0.00
Price / BV (X)	3.23	3.31	4.40	6.88	5.48
Price / Net Operating Revenue (X)	3.24	3.58	3.79	6.00	5.61
EarningsYield	0.02	0.01	0.02	0.01	0.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Atul Ltd. is a Public Limited Listed company incorporated on 11/12/1975 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L99999GJ1975PLC002859 and registration number is 002859. Currently Company is involved in the business activities of Manufacture of other chemical products. Company's Total Operating Revenue is Rs. 5074.69 Cr. and Equity Capital is Rs. 29.46 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Agro Chemicals/Pesticides	Atul House, Ahmedabad Gujarat 380014	Contact not found

Management
Name	Position Held
Mr. Sunil Lalbhai	Chairman & Managing Director
Mr. Samveg Lalbhai	Managing Director
Mr. Bharathy Mohanan	WholeTime Director & President
Mr. Gopi Kannan Thirukonda	WholeTime Director & CFO
Mr. Vivek Gadre	Whole Time Director
Mr. Pradeep Banerjee	Director
Mr. Mukund Chitale	Director
Mr. Rangaswamy Iyer	Director
Mr. Sharadchandra Abhyankar	Director
Mr. Sujal Shah	Director
Mr. Praveen Kadle	Director
Ms. Padmaja Chunduru	Director

FAQ

What is the intrinsic value of Atul Ltd and is it undervalued?

As of 20 April 2026, Atul Ltd's intrinsic value is ₹3123.06, which is 51.48% lower than the current market price of ₹6,436.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (9.10 %), book value (₹2,010), dividend yield (0.39 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Atul Ltd?

Atul Ltd is trading at ₹6,436.00 as of 20 April 2026, with a FY2026-2027 high of ₹7,793 and low of ₹4,752. The stock is currently in the middle of its 52-week range. Market cap stands at ₹18,950 Cr..

How does Atul Ltd's P/E ratio compare to its industry?

Atul Ltd has a P/E ratio of 31.9, which is above the industry average of 25.27. The premium over industry average may reflect growth expectations or speculative interest.

Is Atul Ltd financially healthy?

Key indicators for Atul Ltd: ROCE of 12.8 % is moderate. Dividend yield is 0.39 %.

Is Atul Ltd profitable and how is the profit trend?

Atul Ltd reported a net profit of ₹499 Cr in Mar 2025 on revenue of ₹5,583 Cr. Compared to ₹605 Cr in Mar 2022, the net profit shows a declining trend.

Does Atul Ltd pay dividends?

Atul Ltd has a dividend yield of 0.39 % at the current price of ₹6,436.00. The company pays dividends, though the yield is modest.