Atul Ltd (ATUL) Fair Value & Analysis

Basic Materials · IN · Market cap ₹198B

A solid business, but screening 40% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (₹5,222). The favourable scenario is already priced in.
• Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range ₹5,150 – ₹10,674 · fair‑value band ₹3,121 – ₹5,222 · the ₹6,897 price screens above the ₹4,171 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Atul Ltd (ATUL) currently trades at ₹6,897, while our model-based Fair Value estimate is ₹4,171, implying the stock looks roughly 39.5% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Atul Ltd generated revenue of ₹62.7B at a net margin of 10.8%. Revenue grew 15.0% year over year. It earns a return on equity of 11.5%. Net debt stands at ₹884M. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹3,121 (bear case) to ₹5,222 (bull case); at ₹6,897, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 24% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -40%, ATUL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: DCF Models (₹6,298) versus Dividend Discount (₹402.42). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Atul Ltd manufactures and sells chemicals and other chemical products worldwide. It operates in two segments: Life Science Chemicals and Performance and Other Chemicals.

Full company description

Atul Ltd manufactures and sells chemicals and other chemical products worldwide. It operates in two segments: Life Science Chemicals and Performance and Other Chemicals. The company offers aromatics, such as 2 nitro para cresol, 2-methylcyclohexyl acetate, allyl caproate and heptanoate, ambrettolide, anethole, cresol mixture, manganese sulphate monohydrate, ortho cresol and methoxy toluene, phenyl acetic acid, skatole, and sodium sulfite and sulphate, as well as anisic aldehyde, anisyl acetate and alcohol, anisyl propanal, cresidine, cresol, cresyl acetate and methyl ether, methoxy phenyl acetic acid, and aceto nitrile; and bulk chemicals and intermediates, including 1,3-cyclohexanedione, 2-methylresorcinol, 4-chlororesorcinol, anisole, caustic soda lye, chlorosulphonic and hydrochloric acid, gypsum, hydrogen gas, liquid chlorine, liquid sulphur dioxide and trioxide, oleum, resoform, resorcinol, resorcinol dimethyl ether, sodium hypochlorite, sodium sulphite, and sulphuric acid. It also provides colors; biostimulants; fungicides, herbicides, and insecticides; amino acid derivatives, active pharmaceutical ingredients (API), API intermediates, and phosgene derivatives; and epoxy resins, curing agents, reactive diluents, accelerators and catalysts, formulations, and sulfones. In addition, the company produces tissue culture raised oil and date palm plants, as well as engages in crop protection retail and polymers retail operations. It serves various industries, such as adhesives, agriculture, animal feed, aerospace and defense, automotive, composites, construction, electrical and electronics, food and beverage packaging, marine, paint and coatings, sport and leisure, transport, wind energy, cosmetics, dyestuff, flavor, footwear, fragrance, glass, home care, horticulture, hospitality, paper, personal care, pharmaceutical, plastic, polymer, rubber, soap and detergent, textile, and tire. Atul Ltd was incorporated in 1947 and is headquartered in Valsad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Atul Ltd reported revenue of ₹62.7B in FY2026 versus ₹50.8B in FY2022, a compound +5.4%/yr. Reported net income was ₹6.8B in FY2026, compounding +2.9%/yr from FY2022.

ATUL screens 40% overvalued. Compare with Linde plc →

Peer Group

Specialty Chemicals · 674 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.