āagman

Not investment advice. Data and computed figures, for information only.

Atul Ltd

NSE: ATUL
₹6,197.00
+₹225.00 (+3.77%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹17,319 Cr
CMP
₹6,197.00
52-wk High / Low
₹7,180 / 5,561
P/E
21.8
P/B
2.8
Book Value
₹2,113.0
Div Yield
0.51%
ROCE
15.0%
ROE
11.5%
Face Value
₹10
D/E
0.03

Price+2.7% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
7
/ 9
7 of 9 F-score tests passed
Graham Number
₹3,309
√(22.5 × EPS × book value per share)
ROIC
8.5%
vs 7.5% sector median
Cash flow to profit
1.48
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+535
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
10.2%
ROE × earnings retention ratio
ROE stability
2.4
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.11FII −0.06DII +0.04
Latest quarter vs the previous one
Cash-accrual divergence
−4.5%
of assets
Low = accruals track cash flow
Strengths
+Borrowings are down 42.1% since FY2016 (316 to 183)
+Promoter holding rose by 0.3pp over the last year
+Piotroski F-Score of 7/9 is in the strong band (≥7)
+PE of 21.8x is below the sector median of 36.2x
Watch-outs
−Price trades below its 200-day moving average (1.0x)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,1821,1941,1381,2121,3221,3931,4171,4521,4781,5521,5741,6701,848
Expenses1,0001,0399861,0651,0991,1501,1931,2291,2421,2841,3271,3891,454
Operating Profit182155152148223243224223236267247281394
OPM %15.4%13.0%13.4%12.2%16.9%17.4%15.8%15.4%16.0%17.2%15.7%16.8%21.3%
Other Income10241716163519502850409235
Interest2225594555444
Depreciation52546176777881828281807978
Profit before tax13812410583158191158186177231203289347
Net Profit102917259112140117130132182164211254
EPS (₹)35.0230.6024.0419.8438.0046.4736.9342.9743.4060.8854.6071.3883.32

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,6372,5952,8343,5144,0384,0933,7315,0815,4284,7265,5836,2746,643
Expenses2,2352,1342,3243,0083,2703,1912,8134,1684,6204,0864,6655,2405,455
Operating Profit4024615105057689029189138076399181,0341,189
OPM %15.2%17.8%18.0%14.4%19.0%22.0%24.6%18.0%14.9%13.5%16.4%16.5%17.9%
Other Income93757303883109828665115206217
Interest262825137999811241717
Depreciation606695110119130136177198243317322318
Profit before tax3264044464126808458828106884516929001,070
Net Profit240274323281436671660605507324499689811
EPS (₹)81.1392.44108.8893.21145.72224.69221.64204.23174.19109.71164.37230.25270.18

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital303030303030303030292929—
Reserves1,0091,5851,9362,2142,6763,1253,7974,3994,6425,0855,5696,192—
Borrowings299316168165510812714452237202183—
Other Liabilities4855355917497838809821,1171,0281,1041,1791,465—
Total Liabilities1,8232,4652,7243,0093,5434,1444,9355,6905,7526,4556,9807,870—
Fixed Assets5147501,0261,0271,1041,1251,4181,6341,7702,7922,8472,676—
CWIP11218059961723682504201,033281124110—
Investments663824294707521,1371,3611,3398811,3921,7662,592—
Other Assets1,1311,1541,2101,4151,5151,5131,9062,2972,0681,9902,2422,492—
Total Assets1,8232,4652,7243,0093,5434,1444,9355,6905,7526,4556,9807,870—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3064013923564048817182317076676031,023
Cash from Investing Activity−167−375−175−129−408−782−645−163−469−683−494−891
Cash from Financing Activity−124−39−212−207−1−111−52−57−25738−118−98
Net Cash Flow16−13519−5−112111−2022−934

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %26.026.023.019.027.028.024.019.015.09.013.015.0
ROE %———————————11.5
EPS (₹)81.1392.44108.8893.21145.72224.69221.64204.23174.19109.71164.37230.25
Book Value (₹)———————————2,113.0
Face Value (₹)———————————10
P/E———————————21.8
Div Yield %———————————0.51
NPM %9.110.411.27.910.716.117.211.79.26.88.810.6
OPM %15.018.018.014.019.022.025.018.015.014.016.016.0
D/E0.290.200.090.010.020.030.030.030.010.050.040.03
P/B———————————2.8

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+9.0%
5 years+11.0%
3 years+5.0%
TTM+16.0%
Compounded profit growth
10 years+9.0%
5 years+1.0%
3 years+9.0%
TTM+59.0%
Stock price CAGR
10 years+10.0%
5 years−11.0%
3 years−5.0%
Last year−2.0%
Return on equity
10 years13.0%
5 years11.0%
3 years9.0%
Last year11.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters44.47%44.47%44.64%44.70%44.80%44.93%44.94%45.05%45.17%45.18%45.22%45.33%
FIIs6.12%6.12%4.91%6.61%6.89%9.48%9.22%8.15%8.47%9.79%7.50%7.44%
DIIs20.52%20.52%23.44%22.72%24.49%23.11%23.43%25.23%25.67%23.62%25.89%25.93%
Government0.00%0.00%0.62%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.00%0.00%
Public28.89%28.89%26.39%25.97%23.81%22.48%22.41%21.56%20.69%21.40%21.37%21.30%
No. of shareholders30,02130,02124,73827,11735,82750,19764,42967,54266,58959,64256,85556,570
Change since Jun 2023 (pp)
Promoters +0.86FIIs +1.32DIIs +5.41Public −7.59

Documents

As of 11 Oct 2026
Announcements
Closure of Trading WindowBoard Meeting Intimation for Unaudited Standalone And Consolidated Financial Results For The Quarter / Six Months Ending On September 30, 2026Outcome Of Postal BallotShareholder Meeting / Postal Ballot-Notice of Postal Ballot49Th Annual General Meeting Video Proceedings, Presentation And Speech
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Apr 2026PPTJan 2026PPTOct 2025PPTMay 2025PPTJan 2025PPT

Corporate actions

As of 17 Jul 2026
17 Jul 2026DIVIDENDDividend - Rs 30 Per Share—
11 Jul 2025DIVIDENDDividend - Rs 25 Per Share—
12 Jul 2024DIVIDENDAnnual General Meeting/Dividend - Rs 20 Per Share—
14 Jul 2023DIVIDENDAnnual General Meeting/Dividend - Rs 25 Per Share—
2 Nov 2022DIVIDENDSpecial Interim Dividend - Rs 7.50 Per Share—
14 Jul 2022DIVIDENDAnnual General Meeting/Dividend - Rs 25 Per Share—
15 Jul 2021DIVIDEND Annual General Meeting/Dividend - Rs 20 Per Share—
18 Mar 2020DIVIDEND Interim Dividend - Rs 15 Per Share—
4 Nov 2019DIVIDEND Special Dividend - Rs 12.5 Per Sh—
11 Jul 2019DIVIDEND Annual General Meeting / Dividend - Rs 15 Per Share—
12 Jul 2018DIVIDEND Dividend Rs - 12/- Per Share—
13 Jul 2017DIVIDEND Dividend - Rs 10/- Per Share—
14 Jul 2016DIVIDEND Dividend - Rs 10/- Per Share—
18 Jun 2015DIVIDENDAnnual General Meeting/Dividend - Rs 8.50/- Per Share—
20 Jun 2014DIVIDENDAnnual General Meeting / Dividend Rs 7.50/- Per Share—
21 Jun 2013DIVIDENDAnnual General Meeting/Dividend Rs 6 Per Share—
21 Jun 2012DIVIDENDAnnual General Meeting/Dividend Rs 4.50 Per Share—
29 Jun 2011DIVIDENDAnnual General Meeting And Dividend Rs.4.50 Per Share—
29 Jul 2010DIVIDENDAnnual General Meeting And Dividend Rs.4/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman