Acutaas Chemicals share price & results

Acutaas Chemicals Limited· Healthcare

Results to
Sept 2026
Latest analysed call
Q2 FY27
Ownership as of
Sept 2026

Gujarat chemicals maker: pharma intermediates, semiconductor photoresist & battery electrolyte chemicals

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Price & Snapshot

₹3,770.8 −0.17% · −₹6.5

Last close 5 Nov 2026 · NSE · INR · Source: Inve

Performance +105.6% 1Y

₹1.5k₹2.0k₹2.5k₹3.0k₹3.5k₹4.0kNov 25Dec 25Feb 26Mar 26May 26Jun 26Aug 26Sept 26Nov 26Q3 FY26 — 28 Jan 2026Q4 FY26 — 30 Apr 2026Q1 FY27 — 24 Jul 2026Q2 FY27 — 27 Oct 2026

1Y: ₹1,834.3 on 4 Nov 2025 → ₹3,770.8. High ₹4,003.6 (30 Oct 2026), low ₹1,602.5 (21 Jan 2026).

Previous close
₹3,777.3
Market cap
₹31.9k Cr
52-week range
₹1,602.5 – ₹4,003.6
One year
+105.57%
Price to earnings (TTM to Sept 2026)
72.78×
Return on equity (TTM to Sept 2026)
23.57%

Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue437 ₹ crore+42.8% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin40.0 %+9.0 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit123 ₹ crore+70.8% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity23.57 %+8.1 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-2.69 %+5.0 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)45.35 %−7.5 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Guidance

What management said, and what became of it

4 of 7 judged targets kept · 13 open · verdicts reflect calls analysed to Q2 FY27.

Acutaas Chemicals Limited management guidance track record on Inve: 20 targets tracked across analysed earnings calls (4 achieved, 3 missed, 13 open).

Watch execution in Capex & Expansion (1 achieved · 1 delayed/missed).

TargetOriginal wordingSaidLatest callVerdict
Capex Pilot Plant Capex CompletionQ3 FY26
Call transcript, Q2 FY26 · 17 Oct 2025
Q2 FY26Q2 FY27:Pilot plant capex was completed within H1 FY27 (part of the Rs. 1,239 million H1 outlay), with no further pilot plant capex budgeted in H2 FY27 and pilot batches of a fourth battery chemical product already dispatched.
Call transcript, Q2 FY27 · 27 Oct 2026
Achieved
Capex Indichem JV Peak Revenue~1x capex (~INR 200 crores)
Call transcript, Q4 FY26 · 30 Apr 2026
Q4 FY26Q2 FY27:While the South Korea semiconductor facility (Indicam) was inaugurated and is submitting qualification batches, the ~1x capex peak revenue target was not mentioned this quarter.
Call transcript, Q2 FY27 · 27 Oct 2026
Ghosted
Growth CDMO RevenueINR 1,000 crores by FY28
Call transcript, Q3 FY25 · 29 Jan 2025
Q3 FY25Q2 FY27:Preponed the INR 1,000 crore CDMO revenue target by one full year from FY28 to FY27, backed by existing orders and new CDMO contracts.
Call transcript, Q2 FY27 · 27 Oct 2026
Revised Up

Source: Inve Guidance Tracker for Acutaas Chemicals Limited · to Q2 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

3 of Acutaas Chemicals Limited's 20 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 17 more targets are in the full ledger.

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Supply chain

Cross-company call evidence

Named counterparties and similar headwinds disclosed on earnings calls.

Products, transactions and disclosed impact

Company disclosures with supporting evidence. Actual results, management expectations, and summary paraphrases remain qualified by source basis.

  • Joint venture formation Stage: Announced Call date: 2025-10-17
    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    Named counterparties & directional relationship

    Acutaas Chemicals Limited → has joint venture involvement with → Indichem

    Party roles: Jv participant / not established · Announced

    Counterparty named; listed-company identity not verified.

    Joint venture participation disclosed without full ownership breakdown.

    Acutaas Chemicals Limited → invests in → Indichem

    Party roles: Investor / Investee · Closed / completed · Definitive agreement

    Counterparty named; listed-company identity not verified.

    Acutaas Chemicals Limited → partners with → Unnamed Korean partner

    Party roles: Partner / Partner · Stage not stated

    Counterparty named; listed-company identity not verified.

    Exact commercial direction is not specified; disclosed as a partnership or collaboration.

    Products, services & business exposure Mentioned in this disclosure
    Value-added products to be developed or manufactured in Indichem (undisclosed) · role: Output · category: not established
    New manufacturing site for the JV in Korea · role: Mention only · category: Business asset / Facility
    Disclosed financial & operational figures
    Goodwill generated for the investment in Indichem: around INR16 crores · Disclosed operational measure · Event · this quarter
    Financial & operational impact
    Unstated (recipient of the venture's revenue contribution is not specified): Revenue · Increase Management expectation · Event · from H2 FY '27

    Condition: Expected start of revenue contribution from the venture; magnitude not stated.

    Additional disclosure context
    Rationale: Management describes the new Korea joint venture Indichem as a major milestone in its international expansion journey
    Strategic vision: Management states a vision of becoming a global chemical company with diversified business verticals; the summary rationale links this to the venture
    Disclosure limit: Management declined to share further detail on the products to be manufactured
    Key personnel: Key managerial personnel were obtained through partnership in Baba and in Indichem
    Growth characterization: Management says the battery chemicals and semiconductors verticals together will serve as an important growth pillar alongside the CDMO business; Indichem is placed in the semiconductor vertical
    Milestone: Groundbreaking ceremony took place last month (relative to the call) and capex activities are underway
    Expected completion: Management expects the JV in South Korea to be completed in the next calendar year
    Expected commercial production: Commercial production is expected to start in H2 FY '27
    Expected project start: Indichem project is expected to start in H2 FY '27, with commercial revenue from there onwards
    Stake premium: Management says a premium was paid in relation to a 'noncontrolling stake', which is shown as goodwill
    Investment costs: Incidental charges, bank charges and other items were incurred towards the investment for Indichem (amount not stated)
    Business scope: Management describes the semiconductor business in Korea through Indichem as a completely different business vertical from the India business through Baba Fine Chem
    Product characterization: Products for Indichem are described as more value-added than traditional products in Baba Fine Chem
    Evidence and remaining questions (Contextual assertion review)

    Call date: 2025-10-17 · Review status: Contextual assertion review · Policy: context-loop-v2

    Transcript excerpt
    “Our new joint venture in Korea, Indichem also marks a major milestone in our international”
    Transcript excerpt
    “for investment we have done in Indichem”
    Transcript excerpt
    “The KMP is coming from -- so the -- my Korean partner is himself, they are all our good”
    Transcript excerpt
    Value-added products to be developed or manufactured in Indichem (undisclosed): “which are going to get developed or manufactured in Indichem”
    Transcript excerpt
    New manufacturing site for the JV in Korea: “we are doing a JV in Korea, where we are putting a new manufacturing site.”
    Transcript excerpt
    around INR16 crores: “goodwill of around INR16 crores has been generated for this quarter”
    Transcript excerpt
    Revenue: “This venture is expected to start contributing to revenues from H2 FY '27.”
    Transcript excerpt
    “Our new joint venture in Korea, Indichem also marks a major milestone in our international”
    Transcript excerpt
    “towards our vision of becoming a global chemical company with diversified business verticals”
    Transcript excerpt
    “But over and above that, we will not be able to share more -- much detail on this product, which”
    Transcript excerpt
    “partnership, we got the KMP in Baba as well as in Indichem.”
    Transcript excerpt
    “Together, these 2 verticals, battery chemicals and semiconductors will serve as important growth”
    Transcript excerpt
    “The groundbreaking ceremony took place last month, and capex activities are now underway.”
    Transcript excerpt
    “we are expecting this to get completed in next calendar year”
    Transcript excerpt
    “H2 FY '27 should be the time when it should start the commercial production.”
    Transcript excerpt
    “last month and project is expected to start in H2 FY '27. So from there onwards, the commercial”
    Transcript excerpt
    “we paid some premium to a noncontrolling stake that”
    Transcript excerpt
    “This is towards incidental charges we have incurred and bank charges and other things towards”
    Transcript excerpt
    “India through Baba Fine Chem and in Korea through Indichem are completely different business”
    Transcript excerpt
    “more value-added products than those traditional product in Baba Fine Chem.”

    Not established by the available evidence

    • Korean partner identity and JV role: The partner is referred to only as 'my Korean partner'. The partner and the JV in Korea are mentioned together, but the partner is not expressly called Indichem's co-venturer, so PARTNERS_WITH is used rather than JOINT_VENTURE_WITH. Identity and legal form (person or entity) are not stated.
    • Indichem as JV vehicle: Indichem is called 'our new joint venture'. Its legal form is not stated, and the role enum has no JV-vehicle role, so the JV edge keeps an UNDETERMINED target role and both edges use an UNDETERMINED object kind.
    • ESTABLISHES / formation step: event_kind follows the 'joint_venture' label and the 'new joint venture' wording. No incorporation or formation step is described, so no ESTABLISHES edge is emitted.
    • Stake and consideration: Consideration form is 'undisclosed' with a null amount. Stake percentage and instrument are not stated. It is ambiguous whether 'noncontrolling stake' refers to the issuer's own stake or to a premium paid to noncontrolling holders, so no stake-holder or stake measurement is assigned.
    • Goodwill accounting: Goodwill of around INR16 crores is stated for this quarter. The consolidation treatment, accounting entity and relationship to the investment amount are not given.
    • Raw status versus narrative: Raw status 'announced' is retained. The narrative adds a completed investment, groundbreaking and ongoing capex, which do not affirmatively contradict it. The investment edge is CLOSED/DEFINITIVE on 'investment we have done' and the premium paid. Whether further investment tranches remain is not stated.
    • Absolute dates: 'Last month' and 'this quarter' are relative. The call discusses Q2 FY '26 performance, but no absolute investment or groundbreaking date is given. call_date/report_date are metadata, so effective_time_text is null.
    • Completion versus revenue timing: Completion is expected 'next calendar year' and revenue/commercial production from H2 FY '27. The relationship between these milestones is not stated.
    • Revenue recipient and magnitude: The source does not say whose revenues the venture will contribute to or by how much. The affected party is left unresolved rather than defaulted to the issuer.
    • Diversification and growth pillar: The diversified-verticals vision and the 'growth pillar' wording are strategic characterizations, the latter for a bundle of verticals, so they are kept as facts, not impacts. The summary rationale links diversification to this venture, whereas the transcript states it as the overall company vision.
    • Product category: Indichem's products are undisclosed beyond 'more value-added' products in the semiconductor business vertical. The category and subcategory remain UNDETERMINED rather than inferred from the issuer's business.
    • Ranked excerpts: The passages are ranked excerpts of the call. Absence of partner names, stake terms or amounts in them does not establish that these are absent from the full document.

Counterparties named by Acutaas Chemicals Limited

  • Acutaas Chemicals Limited → partners with → Indichem Inc..

    Q4 FY26 · Closed / completed · Positive · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    Strategic investment in South Korea joint venture for semiconductor business, leveraging partner's 30+ years experience.

    Disclosed value: INR 190 crores

    “Apart from this, another major cash outlay during the year was our investment in South Korea joint venture, Indichem Inc. We have invested INR190 crores in this JV during the year FY '26.”

    Exact commercial direction is not specified; disclosed as a partnership or collaboration.

    Evidence drawer

    Evidence type: Transcript excerpt

    “Apart from this, another major cash outlay during the year was our investment in South Korea joint venture, Indichem Inc. We have invested INR190 crores in this JV during the year FY '26.”

    Source company: Acutaas Chemicals Limited · Counterparty: Indichem Inc. · Call date: 2026-04-30 · Period: Q4 FY26 · Review status: Structured call extraction

  • Acutaas Chemicals Limited → partners with → Indichem (South Korean JV).

    Q3 FY26 · Active · Positive · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    Seeding business in semiconductor chemicals in South Korea, Japan and Taiwan.

    Disclosed value: INR 200 crores

    “Apart from this, another major cash outlay during the year will be our investment in South Korea joint venture, Indichem. Till now, we have invested close to INR130 crores in this joint venture. The total investment we announced for this joint venture was around INR200 crores. We have sufficient cash on hand as well as strong cash flow generation to fund this cash outlay. (Page 5) Indichem investment is over and above this. Your understanding is correct. INR220 crores plus INR130 crores. Overall it will be around INR350 crores. (Page 13)”

    Exact commercial direction is not specified; disclosed as a partnership or collaboration.

    Evidence drawer

    Evidence type: Transcript excerpt

    “Apart from this, another major cash outlay during the year will be our investment in South Korea joint venture, Indichem. Till now, we have invested close to INR130 crores in this joint venture. The total investment we announced for this joint venture was around INR200 crores. We have sufficient cash on hand as well as strong cash flow generation to fund this cash outlay. (Page 5) Indichem investment is over and above this. Your understanding is correct. INR220 crores plus INR130 crores. Overall it will be around INR350 crores. (Page 13)”

    Source company: Acutaas Chemicals Limited · Counterparty: Indichem (South Korean JV) · Call date: 2026-01-28 · Period: Q3 FY26 · Review status: Structured call extraction

  • Acutaas Chemicals Limited → partners with → Indichem (Korea).

    Q2 FY26 · Announced · Positive · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    International expansion, technology, market access, production capability

    “Our new joint venture in Korea, Indichem also marks a major milestone in our international expansion journey. The groundbreaking ceremony took place last month, and capex activities are now underway. This venture is expected to start contributing to revenues from H2 FY '27. ... goodwill of around INR16 crores has been generated for this quarter for investment we have done in Indichem. ... In South Korean JV, we are the investment partner with 75% investment and 25% is with our Korean partner who will bring their technology, their market as well as the production capability.”

    Exact commercial direction is not specified; disclosed as a partnership or collaboration.

    Evidence drawer

    Evidence type: Transcript excerpt

    “Our new joint venture in Korea, Indichem also marks a major milestone in our international expansion journey. The groundbreaking ceremony took place last month, and capex activities are now underway. This venture is expected to start contributing to revenues from H2 FY '27. ... goodwill of around INR16 crores has been generated for this quarter for investment we have done in Indichem. ... In South Korean JV, we are the investment partner with 75% investment and 25% is with our Korean partner who will bring their technology, their market as well as the production capability.”

    Source company: Acutaas Chemicals Limited · Counterparty: Indichem (Korea) · Call date: 2025-10-17 · Period: Q2 FY26 · Review status: Structured call extraction

  • Acutaas Chemicals Limited → partners with → Indichem (Korea JV).

    Q1 FY26 · Announced · Positive · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    Major milestone in international expansion, diversified business verticals

    “Our new joint venture in Korea, Indichem also marks a major milestone in our international expansion journey. The groundbreaking ceremony took place last month, and capex activities are now underway. This venture is expected to start contributing to revenues from H2 FY '27. So goodwill of around INR16 crores has been generated for this quarter for investment we have done in Indichem.”

    Exact commercial direction is not specified; disclosed as a partnership or collaboration.

    Evidence drawer

    Evidence type: Transcript excerpt

    “Our new joint venture in Korea, Indichem also marks a major milestone in our international expansion journey. The groundbreaking ceremony took place last month, and capex activities are now underway. This venture is expected to start contributing to revenues from H2 FY '27. So goodwill of around INR16 crores has been generated for this quarter for investment we have done in Indichem.”

    Source company: Acutaas Chemicals Limited · Counterparty: Indichem (Korea JV) · Call date: 2025-10-17 · Period: Q1 FY26 · Review status: Structured call extraction

Similar pressures reported by peers

Tailwind coverage is not available yet.

Similar commentary provides sector context; it does not establish a business relationship with Acutaas Chemicals Limited. Each comparison matches a headwind disclosed by Acutaas Chemicals Limited in the same calendar reporting quarter.

  • Management noted everyday operational friction from geopolitics, supply chains, logistics,…

    Topic: Supply chain disruption · Logistics supply chain · Q2 FY27

    Acutaas Chemicals Limited reported: Management noted everyday operational friction from geopolitics, supply chains, logistics, electricity, and water, but noted successful cost pass-through to clients.

    Reporting period ended 2026-09-30

    3 other companies · Logistics supply chain

    Laurus Labs (LAURUSLABS) reported (period ended 2026-09-30): Management cited heightened global volatility and geopolitical pressure on API pricing but said supply chain resilience has kept prices stable.

    Ajanta Pharma Limited (AJANTPHARM) reported (period ended 2026-09-30): Asia sales were depressed at Rs. 255 crores in Q1 and H1 growth was only 1%. Alternative shipping routes restored deliveries, but full-year mid-teens growth requires a catch-up in Q3 and Q4.

    Solara Active Pharma Sciences Limited (SOLARA) reported (period ended 2026-09-30): Trade receivables increased significantly due to higher revenue and logistical issues like linearity of billing and container availability, affecting cash flow.

    Evidence drawer

    Evidence type: Summary paraphrase

    Management noted everyday operational friction from geopolitics, supply chains, logistics, electricity, and water, but noted successful cost pass-through to clients.

    Source company: Acutaas Chemicals Limited · Reporting period ended 2026-09-30 · Calendar quarter: Q2 FY27 · Distinct companies matched: 3

    Similar commentary provides sector context; it does not establish a business relationship.

Mentions over time

First observed: Q2 2025 · Latest observed: Q1 2026

Recorded disclosures by calendar reporting quarter
PeriodOther callsOwn calls
Q1 202601
Q4 202501
Q3 202501
Q2 202501

Counts reflect the calls covered here. No mention in a period does not establish that a relationship ended.

From available earnings-call summaries. Disclosures are management statements, not independently verified transactions.

Live Summary

ACUTAAS ₹3,770.8 −0.17%
Guidance Verdict (20 tracked) 4 kept · 13 open· 3 missed
AI Call Brief · Q2 FY27

Acutaas Chemicals Limited Q2 FY27

Overview

Symbol
NSE:ACUTAAS
Exchange
NSE
Currency
INR

What Acutaas Chemicals Limited does

Based on the company's own presentations, annual report and earnings calls.

Acutaas Chemicals Limited (formerly Ami Organics Limited), incorporated in 2007, is a Surat, Gujarat-based specialty and pharmaceutical intermediates manufacturer that has diversified into three reportable business segments — Semiconductor Chemicals, Battery Chemicals and Commodity Chemicals. It earns by producing and exporting advanced pharmaceutical intermediates, ultra-high-purity photoresist chemicals for semiconductor manufacturing, and battery electrolyte additives, alongside a broad base of over 30 established specialty chemicals (parabens, methyl salicylate and others) sold to cosmetics, agrochemical, coatings and industrial customers. The company runs four manufacturing units — Sachin, Ankleshwar and Jhagadia in Gujarat, and Greater Noida in Uttar Pradesh (operated under its Baba Fine Chemicals unit) — supported by an in-house R&D centre, and has built USFDA, PMDA and multiple ISO/GMP certifications across its facilities.

Segments

  • Semiconductor Chemicals
  • Battery Chemicals
  • Commodity Chemicals
Manufacturing facilities
4 (Sachin, Ankleshwar & Jhagadia, Gujarat; Greater Noida, Uttar Pradesh)
Total installed capacity
1,100 KL across the four plants
Reportable business segments
3 (Semiconductor Chemicals, Battery Chemicals, Commodity Chemicals)
Countries served
~55 (since inception)
Customer base
~600 clients, incl. 30+ relationships over a decade
Product breadth
610+ distinct products invoiced to customers in the last 5 years
Founded 2007Headquarters Surat, Gujarat, IndiaEmployees 879 (FY2024-25) Company website

How the price took the results

Moved an average of ±7.6% across the last 4 priced result releases

Close before → close after
QuarterReleaseRevenue (₹ Cr) Net profit (₹ Cr)Rev YoYBefore → AfterReaction
Q2 FY2727 Oct 26437 123+42.8%₹3,348.8 → ₹3,793.3+13.3%
Q1 FY2724 Jul 26330 75+59.4%₹3,459.1 → ₹3,259.5−5.8%
Q4 FY2630 Apr 26433 134+40.6%₹2,502.4 → ₹2,594.1+3.7%
Q3 FY2628 Jan 26393 106+42.9%₹1,728 → ₹1,862.4+7.8%

The move from the last close before each results date to the first close on or after it — the market's first read on the quarter alongside what was filed.

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PEER COMPARISON
Median ₹31,877 Cr Mkt Cap
₹0 Cr₹20,000 Cr₹40,000 Cr₹60,000 CrAcutaas Chemicals Limited (ACUTAAS): ₹31,877 Cr₹31,877 CrACUTAASGlobal Health Limited (MEDANTA): ₹37,366 Cr₹37,366 CrMEDANTASai Life (SAILIFE): ₹33,879 Cr₹33,879 CrSAILIFEDr. Lal Path Labs Ltd. (LALPATHLAB): ₹33,013 Cr₹33,013 CrLALPATHLABWockhardt (WOCKPHARMA): ₹32,335 Cr₹32,335 CrWOCKPHARMAPiramal Pharma Limited (PPLPHARMA): ₹31,770 Cr₹31,770 CrPPLPHARMAKrishna Institute of Medical Sciences Limited (KIMS): ₹30,705 Cr₹30,705 CrKIMSRubicon Research Limited (RUBICON): ₹28,814 Cr₹28,814 CrRUBICONNeuland Laboratories Limited (NEULANDLAB): ₹25,381 Cr₹25,381 CrNEULANDLAB

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Quick Answers

Frequently asked questions on Acutaas Chemicals Limited

Compiled directly from ACUTAAS's filed financial statements, earnings call transcripts, and ownership disclosures.

How did Acutaas Chemicals Limited (ACUTAAS) perform in its latest reported quarter (Sept 2026)?

For the quarter ended Sept 2026, Acutaas Chemicals Limited reported revenue of ₹437 Cr, net profit of ₹123 Cr, an operating margin of 40.0%. Diluted earnings per share stood at ₹15.29.

How is Acutaas Chemicals Limited (ACUTAAS) valued today, and what growth does the stock price imply?

Acutaas Chemicals Limited (ACUTAAS) trades at ₹3,770.8, with a market capitalization of ₹31.9k Cr. Reverse-DCF analysis shows the current stock price implies 37.9% annual earnings growth over the next 7 years compared with its historical net-profit CAGR of 57.9%.

Who owns Acutaas Chemicals Limited (ACUTAAS) — promoters, FIIs, DIIs, and mutual funds?

As of Sept 2026, Promoters hold 32.7%, FIIs hold 22.6%, DIIs hold 19.4%, Public shareholders hold 25.3%.