AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 22 Sep - Acutaas Chemicals to attend PL Capital Mid & Small Cap Conference on September 28, 2026 in Mumbai.
Source: Bse
Acutaas Chemicals Limited (ACUTAAS)
Large CapPharma stocks · Large cap · NSE
Acutaas Chemicals (formerly Ami Organics) manufactures advanced pharmaceutical intermediates and specialty chemicals for semiconductor, battery, and commodity industries. It holds 50-90% global market share in key intermediates, with 90%+ products backward integrated. The company focuses on chronic therapy segments and high-purity chemicals.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result24 Jul, 06:01 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 33.5 (n=187)
Technical timing lens
Trend score and candlestick chart
75BullishSMA20 -1.5% / mo · MACD + · sector +3.8pp vs Nifty 500 (3M)
Stock trend: 60
Sector RS: 98
Sector 3M: -1.8% vs Nifty 500 -5.6%
Pharma FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but the sector index is below its 100-session average. View sector evidence
Technical chart
ACUTAASD candles · FIT view+35.8%Latest close ₹3253.40 on 2026-10-19
Bar
-0.7%
RSI
53
MACD hist
5.06
52W pos
78%
2026-10-19O ₹3275.00H ₹3354.40L ₹3234.10C ₹3253.40Vol 5.6L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ACUTAASNifty PharmaNifty 500
- ACUTAAS
- -11.0%
- Nifty 500
- -5.6%
- Nifty Pharma
- -1.5%
- Vs Nifty 500
- -5.4 pp
Chart stats
19 Oct 2026- From 52W high
- -13.0%
- 52W range position
- 79%
- ATR (14)
- 3.6%
- Volume vs 20D
- 1.56x
- Avg traded value
- ₹116 Cr
- 20D price channel
- ₹3,031.1 - ₹3,509.9
₹3,740
₹1,418.6 - ₹3,740
₹117.4
Latest completed session
20-session average
36.9% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend supports entry, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED61
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +59.4% · PAT +70.5% YoY
Technical
Bullish75
Price trend and sector-relative-strength timing.
Valuation
Legacy model-53.3%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence85
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +59% YoY · PAT +70% YoY · margin expansion · operating leverage
Filed 24 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹330 Cr | +59.4% | -23.8% |
| EBITDA | ₹113 Cr | +121.6% | -38.6% |
| Operating margin | 34.0% | +900 bps | -800 bps |
| PAT | ₹75 Cr | +70.5% | -44.0% |
| PAT margin | 22.7% | +147 bps | -822 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 67.90
- P/B
- 15.87
- EV/EBITDA
- 45.22
- Market Cap
- 26239.00Cr
Profitability
- ROE
- 24.00%
- ROCE
- 31.60%
- ROA
- 24.98%
- Dividend Y
- 0.08%
Growth (CAGR)
- Revenue 5Y
- 32.00%
- EPS 5Y
- 46.00%
- Revenue 3Y
- 30.00%
- EPS 3Y
- 62.00%
Balance Sheet
- Debt/Equity
- 0.02
- Interest Coverage
- 135.75×
- Altman Z
- 9.89
- Book Value
- 202.00
Cash Flow
- FCF Yield
- 0.10%
- FCF Positive Y
- 4/5
- OCF
- 292.00 Cr
- EPS TTM
- 47.17
Shareholding
- Promoter Hold
- 32.66%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 76%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 1,339+33.0% vs prev
Net Profit
₹ CrLatest: 356+122.5% vs prev
Return on Equity
%Latest: 21.5+76.2% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 53. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~1.5% over last month) — short-term momentum negative.
- RSI(14) at 53 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 13% off 52W high · 107% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
97
RS percentile
Stage 2 UptrendRecent S2
1M return
-5.4%
3M return
-11.0%
6M return
+34.3%
1Y return
+89.7%
RS 1D
+1
RS 20D
0
Sector rank
#1
Industry rank
-
Stage evidence
- Price is 6.9% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +4.7%.
50-DMA
price above
200-DMA
price above
S2 entered
09 Oct 2026
S2 age
7 trading sessions
Sector
leading
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 246.85+2.53%
RS vs Nifty 500247
Valuation & peers
U-Score 61 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 61 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · UNDERVALUEDValuation0/30
Growth23/25
Quality20/20
Balance Sheet9/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
61
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
61/100 · legacy band UNDERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Quality contributes 20/20 to the score.
- Growth contributes 23/25 to the score.
Main drags
- Fair-value margin of safety is negative at -53.3%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
Healthcare valuation: PE/EVEBITDA with regulatory and pipeline checks
Healthcare valuation needs both earnings quality and regulatory/pipeline context.
Primary lens
PE and EV/EBITDA adjusted for product mix and R&D/pipeline quality.
Secondary checks
USFDA risk, launch pipeline, margin trend, domestic vs export mix.
Main risk check
Regulatory setbacks or one-off product cycles can distort valuation.
PE
67.9
PB
15.9
EV/EBITDA
45.2
ROE
24.0%
ROCE
31.6%
FCF Yield
0.1%
Debt/Equity
0.0
MoS
-53.3%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
61
Previous: 61
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
-53.3%
Previous: -53.3%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
61
61
61
61
61
61
61
61
61
61
61
61
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹463.02
-602.6% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹2,122.65
-53.3% MoS
PEG
1.30
Comparable companies
Peers
Business-comparable peers in Pharma — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ADVANCE
Small
Advance Agrolife Limited
Agrochemicals
match 113
40
29.0
29.1%
-152%
WATCHLIST
BESTAGRO
Small
Best Agrolife Limited
Agrochemicals
match 112
32
21.2
1.1%
-911%
WATCHLIST
CLSL
SME
Crop Life Science Ltd.
Agrochemicals
match 112
34
16.8
8.1%
+61%
WATCHLIST
BAYERCROP
Large
Bayer Cropscience Limited
Agrochemicals
match 101
26
327.0
15.8%
-5483%
OVERVALUED
UPL
Mid
UPL Limited
Agrochemicals
match 93
32
22.6
5.6%
-478%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-12T07:26:00.707Z
Management commentary snapshot
Acutaas Chemicals reports robust FY26 performance with 33% revenue growth, 120% PAT increase, and significant margin expansion, driven by strong demand in Advanced Intermediates.
The company delivered exceptional FY26 results, significantly outperforming previous years across all key financial metrics. Strategic investments in Pharma, Semiconductor, and Battery chemicals, coupled with R&D expansion, position it for continued growth. The substantial increase in CWIP indicates aggressive future capacity build-out.
Current business mix
Revenue by Business Vertical (FY26)
Latest issuer-disclosed distribution across 3 reported categories.
Pharmaceutical Intermediates87.7%
Commodity Chemicals11.2%
Semiconductor Chemicals1.2%
Growth engines
Advanced Pharmaceutical Intermediates
Strategy to expand Innovator Business with increased focus on CDMO opportunities and develop Off-Patent Products Early.
Semiconductor Chemicals
Plans to expand existing products to new geographies (Japan, South Korea, Taiwan) and grow Indichem JV with advanced chemicals.
Battery Chemicals
Strategy to expand existing products with new customers and introduce new products to widen the product basket.
R&D Capabilities
Drive innovation by developing differentiated products for global markets and expanding pilot plant capacity for higher project churnout.
Capacity and execution
Pharma Capacity Expansion
3x Capacity Expansion at Ankleshwar site by redevelopment of the site, with capex status completed.
Battery Chemicals Capacity
Phase 1 completed for 2,000 MTPA each of VC and FEC at Jhagadia. Phase 2 is under construction.
Semiconductor Chemicals Facility
~ ₹ 200 Cr. investment in Indichem (JV in South Korea) for a state-of-art facility, currently under construction.
R&D Pilot Plant
~ ₹ 25 Cr. investment in Pilot Plant (Ongoing) to expand capacity and include HP API chemicals, currently under construction.
Tailwinds
Global Market Leadership
Company holds 50-90% global market share in key intermediates.
Backward Integration
90%+ of products are backward integrated to basic chemicals, enhancing supply chain control.
Pioneering Niche Industries
Only Indian manufacturer for photoresist chemicals and 1st electrolyte additives manufacturer in India.
Risk radar
New Market Entry Execution
Expansion into Japan, South Korea, and Taiwan markets for Semiconductor chemicals and growth of Indichem JV in South Korea carry execution risks.
Battery Chemicals Commercialization
Despite 10+ products in pipeline and 5+ customer validations, the Battery Chemicals segment reported no commercial revenue in FY26.
Commodity Product Margins
Strategy involves developing newer products to replace existing low margin products in Commodity Chemicals, indicating margin pressure on current offerings.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The document presents annual financial data (FY20-FY26), making year-over-year comparison the most appropriate method to assess performance trends and growth.
Sector KPIs management disclosed
EBITDA Margin
EBITDA Margin FY26: 35.9% vs FY25: 23.0%.
PAT Margin
PAT Margin FY26: 26.6% vs FY25: 15.9%.
R&D Investment
~ ₹ 25 Cr. Investment in Pilot Plant (Ongoing) to support higher projects churnout from R&D.
Regulatory Approvals
Unit 1 Sachin and Unit 2 Ankleshwar received GMP by PMDA Japan. Received second US FDA EIR for Sachin manufacturing unit.
Management forward view
Strategic Focus
Rebranded as Acutaas Chemicals Ltd. to reflect a sharper focus on specialty and custom chemical solutions.
Future Investment
Investing ₹ 1000+ Cr. for sustainable future growth from FY23 to FY30.
R&D Expansion
Expanding pilot plant capacity to support higher projects churnout from R&D, including capacity for HP API chemicals.
Sustainability Commitment
Majority of company’s present electricity requirements across its key facilities will be met through 16 MW of installed renewable energy sources.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Battery Chemicals Revenue | No Commercial Revenue FY26 | Commercialization and revenue contribution from the battery chemicals segment. |
| Semiconductor JV Progress | Indichem Inc. (JV in South Korea) facility construction is Under Construction. | Commissioning and ramp-up of the South Korea JV facility for advanced semiconductor chemicals. |
| R&D Pilot Plant Completion | ~ ₹ 25 Cr. Investment in Pilot Plant (Ongoing). | Completion of pilot plant expansion and its impact on new product churn and HP API capabilities. |
| Ankleshwar Capacity Utilization | 3x Capacity Expansion at Ankleshwar site completed. | Utilization levels and revenue contribution from the expanded Ankleshwar facility. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
85Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 98th percentile of the scored universe and 98th percentile within Pharma. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
86 docs text-extracted · 38 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
98th percentile
overall median 67 · Pharma: 98th pctile, median 70 · Large: 94th pctile, median 73
Evidence depth
Financial-only
86 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
98
strong · capital discipline
Results
77
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.1%.
- ▸4 years of positive FCF.
- ▸Debt/equity is 0.02.
Trust risks
- ▸OPM spread across recent quarters is 22%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Acutaas Chemicals Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Acquisition 24 Sep - Board approved acquiring Enchem Ami Organics Pvt Ltd for Rs1 lakh; direct wholly owned subsidiary within one month.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8 Aug
Source: Bse
Investor presentationJul 2026
Jul 2026 · PPT
Source: Bse
Concall transcriptJul 2026
Jul 2026 · Transcript
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Change in Management 2 Jul - Anurag Shukla promoted to General Manager Operations & Unit Head, Ankleshwar, effective July 2, 2026.
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 20 Jul - Intimation of Earnings conference call scheduled on July 24, 2026 at 04.00 P.M. (IST)
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 25 Jul - Newspaper publication of Unaudited Financial Results of the Company for the quarter ended June 30, 2026 as per details attached.
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Bse
AnnouncementMay 2026
May 2026 · Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015 19 May - ACEPL allotted 1,111 shares to A.R.Z Pharma Ltd., reducing Acutaas stake to 90% on May 19, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 14 May - Intimation of schedule of Conferences Meet as per details attached.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.