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Vinati Organics Limited (VINATIORGA) Fair Value & Analysis

Basic Materials · IN · Market cap ₹135B

VO Vinati Organics Limited VINATIORGA · NSE
Price₹1,339
Fair Value₹721.37
Upside-46.1%
Quality61/100
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Mixed Growth
Solidly profitable · 19.9% net margin
Low debt · generates free cash flow
0.64% dividend yield
Mixed vs. peers (7/14)
Wide moat 75/100
Evidence: High Range ₹382.82 – ₹909.54 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 5 days ago

Share price +1.3% over the past month.

A solid business, but screening 46% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (₹909.54). The favourable scenario is already priced in.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹382.82 to ₹909.54) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹2,315 ₹1,209 Fair Value ₹721.37 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹1,209 – ₹2,315 · fair‑value band ₹382.82 – ₹909.54 · the ₹1,339 price screens above the ₹721.37 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Vinati Organics Limited (VINATIORGA) currently trades at ₹1,339, while our model-based Fair Value estimate is ₹721.37, implying the stock looks roughly 46.1% overvalued today. The Quality Score stands at 61/100 (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, Vinati Organics Limited generated revenue of ₹22.3B at a net margin of 19.9%. Revenue declined 6.9% year over year. It earns a return on equity of 14.9%. The balance sheet holds a net cash position of ₹60.6M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹382.82 (bear case) to ₹909.54 (bull case); at ₹1,339, 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 34% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -68% fair-value upside, at -46%, VINATIORGA 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹385.82 ₹780.61 ₹1,403 80
Residual Income ₹297.50 ₹387.21 ₹1,103 76
Rev-Margin DCF ₹280.14 ₹496.87 ₹798.78 74
All 26 models by family
DCF Models
FCF DCF ₹396.34 ₹736.95 ₹1,588 38
Owner Earnings ₹392.62 ₹797.39 ₹1,573 31
5Y Revenue Exit ₹280.14 ₹503.91 ₹817.60 39
5Y EBITDA Exit ₹433.96 ₹844.54 ₹1,389 41
5Y P/E Exit ₹482.29 ₹951.56 ₹1,524 38
10Y Revenue Exit ₹306.15 ₹540.69 ₹925.86 36
10Y EBITDA Exit ₹419.70 ₹800.91 ₹1,439 37
10Y P/E Exit ₹452.72 ₹882.67 ₹1,561 35
Earnings-Based
Graham-Dodd ₹291.07 ₹1,693 ₹2,355 54
Lynch FV ₹478.52 ₹683.59 ₹888.67 50
PEG = 1.0 ₹478.52 ₹683.59 ₹888.67 46
EPV ₹360.27 ₹420.21 ₹472.67 59
Dividend Discount
Gordon GGM ₹69.01 ₹143.50 ₹227.64 70
DDM Multi-Stage ₹69.01 ₹121.00 ₹150.60 61
Multiples
P/E Multiple ₹545.76 ₹727.68 ₹909.60 63
P/S Multiple ₹241.67 ₹322.22 ₹402.78 58
P/B Multiple ₹545.76 ₹727.68 ₹909.60 55
EV/EBIT ₹550.08 ₹733.24 ₹916.41 53
EV/EBITDA ₹473.65 ₹631.33 ₹789.02 54
EV/Revenue ₹226.14 ₹322.81 ₹419.47 43
Asset-Based
NCAV (Graham) ₹152.49 ₹204.34 ₹304.99 50
Growth DCF
Growth DCF ₹385.82 ₹780.61 ₹1,403 80
Rev-Margin DCF ₹280.14 ₹496.87 ₹798.78 74
Economic Profit
Residual Income ₹297.50 ₹387.21 ₹1,103 76
ROIC Compounder ₹397.62 ₹577.97 ₹740.95 72
Growth Earnings
Growth-Adj P/E ₹642.07 ₹917.25 ₹1,192 68

Widest divergence: Growth Earnings (₹917.25) versus Dividend Discount (₹121.00). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹22.3B
Revenue growth (YoY) -6.9%
Net margin 19.9%
Return on equity 14.9%
Free cash flow ₹2.9B FY2026
P/E ratio 31.3
More key figures
Operating margin 23.2%
EPS (TTM) ₹42.77
Dividend yield 0.6%
EPS growth (YoY) +0.7%
Net cash ₹60.6M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 60 · Market factors (momentum, volatility) 42

Profitability 58
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 40
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Vinati Organics Limited manufactures and sells specialty organic intermediaries and monomers in India and internationally. The company offers specialty monomers comprising 2-acrylamido 2-methylpropane sulphonic acid, sodium salt of 2-acrylamido-2-methylpropane sulphonic acid, N-tertiary butyl acrylamide, and N-tertiary octyl acrylamide.

Full company description

Vinati Organics Limited manufactures and sells specialty organic intermediaries and monomers in India and internationally. The company offers specialty monomers comprising 2-acrylamido 2-methylpropane sulphonic acid, sodium salt of 2-acrylamido-2-methylpropane sulphonic acid, N-tertiary butyl acrylamide, and N-tertiary octyl acrylamide. It also provides specialty aromatics, including iso butyl benzene used as a basic raw material in the pharmaceutical and perfume industries; normal butyl benzene that is used in the production of N-aryl azoles; secondary butyl benzene and 3-phenylpentane that are used in perfumery and flavor industries; tertiary amyl benzene, which is used as an ingredient of electrolytes in batteries; C10 aromatic solvent used in the paints and coatings, agrochemicals, and printing inks; and 4-Butylaniline used in the water treatment chemical in corrosion inhibition. In addition, the company offers ortho tertiary butyl phenol use to produce perfumery products; ortho sec butyl phenol; para tertiary butyl phenol used in the production of epoxy, polycarbonate resins, and curing agents; and 2,4-Di tertiary butyl phenol and 2, 6-Di tertiary butyl phenol used to manufacture anti-oxidants. Further, it provides other specialty products, which includes isohexane; methyl-4-tertiary butyl benzoate; para tertiary butyl benzoic acid; isobutylene; methanol; high purity-methyl tertiary butyl ether; tertiary-butylamine; and mixed hexene. Additionally, the company offers miscellaneous polymers, including vintreat polymer, VINPLAST 245, VINFLOW HT, and vintreat-PA; Potassium Bicarbonate; and antioxidants, as well as mehq, guaiacol, anisole, para tertiary amyl phenol, 4-methoxy acetophenone, and tertiary amyl alcohol. It serves pharmaceuticals, personal care and cosmetics, food and beverage, polymers and resins, agrochemicals. Vinati Organics Limited was incorporated in 1989 and is headquartered in Mumbai, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Vinati Organics Limited reported revenue of ₹22.3B in FY2026 versus ₹16.1B in FY2022, a compound +8.4%/yr. Reported net income was ₹4.4B in FY2026, compounding +6.4%/yr from FY2022.

Growth Quality 94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹22.3B
Latest YoY
−0.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.8%
Avg. growth/yr (20Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+20.1%
Revenue +8.4%/yr
FY22 ₹16.1B
FY23 ₹20.6B
FY24 ₹18.9B
FY25 ₹22.4B
FY26 ₹22.3B
Net income +6.4%/yr
FY22 ₹3.5B
FY23 ₹4.2B
FY24 ₹3.2B
FY25 ₹4.1B
FY26 ₹4.4B
Character of growth · EPS growth decomposed (2015-2026) +12.9 % p.a.
Revenue per share +13.4 pp

of which total revenue +13.5 pp · buybacks/dilution −0.1 pp

EBIT margin −2.2 pp
Tax rate +1.0 pp
Residual (interest, one-offs) +0.7 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

VINATIORGA screens 46% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Vinati Organics Limited Fair Value". https://www.fairvalue-calculator.com/stock/VINATIORGA

Peer Group

Specialty Chemicals · 671 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.

Quality Score 61 · Top 25%
Fair Value upside −46% · Below median
Return on equity (TTM) 15% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 23% · Top 25%
Revenue growth -7% · Bottom 25%
Dividend yield (TTM) 0.6% · Bottom 25%

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 31.3× · Pricier than median
P/B 4.27× · Pricier than 75% of peers
P/S (TTM) 6.06× · Pricier than 75% of peers
P/FCF 0.5× · Cheaper than median
EV/EBITDA 20.6× · Pricier than 75% of peers

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 · sector 0
FUTURE 0 · sector 18
PAST 60 · sector 23
HEALTH 100 · sector 95
DIVIDEND 13 · sector 31

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.

None of the checked exposures detected

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

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Solar Industries India Limited SOLARINDS ₹18,730 ₹2,793 -85%
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PT Chandra Asri Pacific Tbk TPIA 2,160 IDR 2,322 IDR +8%
Berger Paints India Limited BERGEPAINT ₹559.80 ₹154.46 -72%
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Frequently asked questions

Is Vinati Organics Limited (VINATIORGA) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹721.37 versus a price of ₹1,339, about −46% (overvalued).
What is the fair value of VINATIORGA?
Our model-based fair value for Vinati Organics Limited is ₹721.37 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹1,339.
What is the quality score of VINATIORGA?
Vinati Organics Limited has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Vinati Organics Limited (VINATIORGA)?
Vinati Organics Limited reported trailing-twelve-month revenue of about ₹22.3B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of VINATIORGA?
The net profit margin of Vinati Organics Limited is about 19.9%, meaning it keeps roughly 19.9% of revenue as net income. Based on the latest reported figures.
Does Vinati Organics Limited pay a dividend?
Vinati Organics Limited currently shows a dividend yield of about 0.64% relative to its recent price (as of Aug 13, 2026).

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.

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