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Atul Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹5,891.89Overvalued by 15.22%vs CMP ₹6,950.00

P/E (30.2) × ROE (11.5%) × BV (₹2,113.00) × DY (0.36%)

₹3,394.69Overvalued by 51.16%vs CMP ₹6,950.00
MoS: -104.7% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹5,878.1022%Over (-15.4%)
Graham NumberEarnings₹3,097.8116%Over (-55.4%)
Earnings PowerEarnings₹1,268.7613%Over (-81.7%)
DCFCash Flow₹2,190.3713%Over (-68.5%)
Net Asset ValueAssets₹2,007.087%Over (-71.1%)
EV/EBITDAEnterprise₹4,963.959%Over (-28.6%)
Earnings YieldEarnings₹2,018.507%Over (-71%)
ROCE CapitalReturns₹3,690.099%Over (-46.9%)
Revenue MultipleRevenue₹2,840.685%Over (-59.1%)
Consensus (9 models)₹3,394.69100%Overvalued
Key Drivers: Wide model spread (₹1,269–₹5,878) — high uncertainty.

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 ₹6,950.00, market cap is 20,489 Cr.. At a glance, stock P/E is 30.2, ROE is 11.5 %, ROCE is 14.9 %, book value is 2,113, dividend yield is 0.36 %. The latest intrinsic value estimate is ₹3,394.69, around 51.2% 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%. The 52-week range shown on this page is 7,793/5,560, 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 L99999GJ1975PLC0…

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

61
Atul Ltd scores 61/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health72/100 · Strong
ROCE 14.9% GoodROE 11.5% 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 Rank45/100 · Moderate
P/E 30.2 vs industry 39.0 In-lineROCE 14.9% vs industry 14.9% Average3Y 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.

Share Price and Basic Stock Data

Last Updated: May 4, 2026, 11:48 pm

Market Cap 20,489 Cr.
Current Price 6,950
Intrinsic Value₹3,394.69
High / Low 7,793/5,560
Stock P/E30.2
Book Value 2,113
Dividend Yield0.36 %
ROCE14.9 %
ROE11.5 %
Face Value 10.0
PEG Ratio-128.97

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

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 20,489 Cr. 6,950 7,793/5,56030.2 2,1130.36 %14.9 %11.5 % 10.0
Bayer CropScience Ltd 21,095 Cr. 4,702 6,540/4,27331.5 6952.66 %24.8 %20.0 % 10.0
Sumitomo Chemical India Ltd 22,406 Cr. 449 665/36341.3 64.00.27 %25.1 %18.8 % 10.0
Sharda Cropchem Ltd 9,386 Cr. 1,040 1,298/50716.6 2970.87 %16.5 %12.6 % 10.0
Epigral Ltd 5,732 Cr. 1,329 2,114/80617.2 5150.45 %15.6 %16.2 % 10.0
Industry Average10,461.85 Cr1,112.2738.97375.170.47%14.91%18.27%6.67

All Competitor Stocks of Atul Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,2681,1951,1821,1941,1381,2121,3221,3931,4171,4521,4781,5521,574
Expenses 1,0961,0461,0001,0399861,0651,0991,1501,1931,2291,2421,2841,327
Operating Profit 172149182155152148223243224223236267247
OPM % 14%12%15%13%13%12%17%17%16%15%16%17%16%
Other Income 23261024171616351950285040
Interest 2222255945554
Depreciation 50515254617677788182828180
Profit before tax 14212213812410583158191158186177231203
Tax % 28%24%26%26%32%29%29%27%26%30%25%21%20%
Net Profit 10392102917259112140117130132182164
EPS in Rs 35.6131.7035.0230.6024.0419.8438.0046.4736.9342.9743.4060.8854.60

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

Quarterly Chart

Profit & Loss - Annual Report

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

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,4392,6372,5952,8343,5144,0384,0933,7315,0815,4284,7265,5836,055
Expenses 2,0752,2352,1342,3243,0083,2703,1912,8134,1684,6204,0864,6655,082
Operating Profit 364402461510505768902918913807639918973
OPM % 15%15%18%18%14%19%22%25%18%15%14%16%16%
Other Income 3693757303883109828665115168
Interest 332628251379998112419
Depreciation 58606695110119130136177198243317325
Profit before tax 308326404446412680845882810688451692798
Tax % 29%31%32%28%32%36%21%25%25%26%28%28%
Net Profit 219240274323281436671660605507324499608
EPS in Rs 73.9081.1392.44108.8893.21145.72224.69221.64204.23174.19109.71164.37201.85
Dividend Payout % 10%10%9%9%13%10%12%9%12%19%18%15%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 30303030303030303030292929
Reserves 9191,0091,5851,9362,2142,6763,1253,7974,3994,6425,0855,5695,888
Borrowings 367299316168165510813314452237202186
Other Liabilities 5024855355917497838809761,1171,0281,1041,1791,368
Total Liabilities 1,8181,8232,4652,7243,0093,5434,1444,9355,6905,7526,4556,9807,471
Fixed Assets 5705147501,0261,0271,1041,1251,4181,6341,7702,7922,8472,767
CWIP 5911218059961723682504201,033281124109
Investments 63663824294707521,1371,3611,3398811,3921,7662,188
Other Assets 1,1261,1311,1541,2101,4151,5151,5131,9062,2972,0681,9902,2422,408
Total Assets 1,8181,8232,4652,7243,0093,5434,1444,9355,6905,7526,4556,9807,471

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 3064013923564048817182317076676031,023
Cash from Investing Activity + -167-375-175-129-408-782-645-163-469-683-494-895
Cash from Financing Activity + -124-39-212-207-1-111-52-57-25738-118-98
Net Cash Flow 16-13519-5-112111-2022-930
Free Cash Flow 11131180213195508396-359-167164334851
CFO/OP 95%111%93%91%86%122%100%47%112%121%82%114%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-3.00103.00145.00342.00489.00713.00794.00785.00769.00755.00402.00716.00

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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 656162677563647271577274
Inventory Days 1191051181078389931281221019097
Days Payable 8969878693668812190698482
Cash Conversion Cycle 9597938866866978103897789
Working Capital Days 475046657674596577686977
ROCE %28%26%26%23%19%27%28%24%19%15%9%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 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 67,54268,75166,77665,75766,58967,75360,35459,11059,64255,50556,95157,263

Shareholding Pattern Chart

No. of Shareholders

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

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
DSP Mid Cap Fund 521,497 1.7 323.98698,0922025-12-07 06:22:13-25.3%
Aditya Birla Sun Life Flexi Cap Fund 407,556 1.03 253.19350,1602025-12-08 01:35:3016.39%
DSP Small Cap Fund 403,746 1.55 250.83380,1932025-12-07 00:37:576.2%
ICICI Prudential Smallcap Fund 347,874 2.66 216.12346,6572025-12-15 04:32:430.35%
ICICI Prudential Multicap Fund 225,995 0.89 140.4112,7042025-12-07 06:22:13100.52%
Aditya Birla Sun Life Midcap Fund 197,756 2.03 122.86163,7802025-12-15 02:07:4920.74%
Franklin India Small Cap Fund 165,000 0.8 102.51N/AN/AN/A
ICICI Prudential Balanced Advantage Fund 162,818 0.14 101.15N/AN/AN/A
DSP ELSS Tax Saver Fund 157,993 0.57 98.15157,9622025-12-15 04:32:440.02%
ICICI Prudential Manufacturing Fund 154,343 1.52 95.89164,3022026-02-22 17:35:05-6.06%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 164.37109.54174.15204.23221.17
Diluted EPS (Rs.) 164.37109.54174.15204.23221.17
Cash EPS (Rs.) 273.03189.17237.25261.15266.49
Book Value[Excl.RevalReserv]/Share (Rs.) 1900.391752.681598.181506.191302.65
Book Value[Incl.RevalReserv]/Share (Rs.) 1900.391752.681598.181506.191302.65
Revenue From Operations / Share (Rs.) 1895.231604.101837.971715.941260.21
PBDIT / Share (Rs.) 346.91235.87301.29333.48344.51
PBIT / Share (Rs.) 239.37153.43234.31273.81298.47
PBT / Share (Rs.) 231.22149.67231.63270.71295.32
Net Profit / Share (Rs.) 165.49106.73170.27201.48220.46
NP After MI And SOA / Share (Rs.) 164.27109.65174.09204.07221.47
PBDIT Margin (%) 18.3014.7016.3919.4327.33
PBIT Margin (%) 12.629.5612.7415.9523.68
PBT Margin (%) 12.209.3312.6015.7723.43
Net Profit Margin (%) 8.736.659.2611.7417.49
NP After MI And SOA Margin (%) 8.666.839.4711.8917.57
Return on Networth / Equity (%) 8.646.3111.0013.6417.13
Return on Capital Employeed (%) 11.528.0814.0417.2221.39
Return On Assets (%) 6.914.988.9110.5813.28
Long Term Debt / Equity (X) 0.030.040.010.010.02
Total Debt / Equity (X) 0.030.040.010.030.02
Asset Turnover Ratio (%) 0.820.770.900.970.80
Current Ratio (X) 3.332.562.492.693.18
Quick Ratio (X) 2.471.831.511.812.43
Inventory Turnover Ratio (X) 7.892.993.243.962.97
Dividend Payout Ratio (NP) (%) 12.1622.8418.659.790.00
Dividend Payout Ratio (CP) (%) 7.3513.0313.477.570.00
Earning Retention Ratio (%) 87.8477.1681.3590.210.00
Cash Earning Retention Ratio (%) 92.6586.9786.5392.430.00
Interest Coverage Ratio (X) 42.6262.71112.62107.68109.10
Interest Coverage Ratio (Post Tax) (X) 21.3329.3864.6566.0670.81
Enterprise Value (Cr.) 18266.2917113.3420598.5330563.7020735.76
EV / Net Operating Revenue (X) 3.273.623.806.025.56
EV / EBITDA (X) 17.8724.6323.1530.9520.33
MarketCap / Net Operating Revenue (X) 3.243.583.796.005.61
Retention Ratios (%) 87.8377.1581.3490.200.00
Price / BV (X) 3.233.314.406.885.48
Price / Net Operating Revenue (X) 3.243.583.796.005.61
EarningsYield 0.020.010.020.010.03

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. 5563.57 Cr. and Equity Capital is Rs. 29.46 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
Agro Chemicals/PesticidesAtul House, Ahmedabad Gujarat 380014Contact not found
Management
NamePosition Held
Mr. Sunil LalbhaiChairman & Managing Director
Mr. Samveg LalbhaiManaging Director
Mr. Bharathy MohananWholeTime Director & President
Mr. Gopi Kannan ThirukondaWholeTime Director & CFO
Mr. Vivek GadreWhole Time Director
Mr. Pradeep BanerjeeDirector
Mr. Mukund ChitaleDirector
Mr. Rangaswamy IyerDirector
Mr. Sharadchandra AbhyankarDirector
Mr. Sujal ShahDirector
Mr. Praveen KadleDirector
Ms. Padmaja ChunduruDirector

FAQ

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

As of 15 May 2026, Atul Ltd's intrinsic value is ₹3394.69, which is 51.16% lower than the current market price of ₹6,950.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (11.5 %), book value (₹2,113), dividend yield (0.36 %), and 5-year EPS CAGR.

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

Atul Ltd is trading at ₹6,950.00 as of 15 May 2026, with a FY2026-2027 high of ₹7,793 and low of ₹5,560. The stock is currently in the middle of its 52-week range. Market cap stands at ₹20,489 Cr..

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

Atul Ltd has a P/E ratio of 30.2, which is below the industry average of 38.97. This is broadly in line with or below the industry average.

Is Atul Ltd financially healthy?

Key indicators for Atul Ltd: ROCE of 14.9 % is moderate. Dividend yield is 0.36 %.

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 0.36 % at the current price of ₹6,950.00. The company pays dividends, though the yield is modest.

Last Updated: May 4, 2026, 11:48 pm
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500027 | NSE: ATUL
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Atul Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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