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ATUL - Fundamental Analysis: Financial Health & Valuation

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Rating: 2.9

Last Updated Time : 19 Mar 26, 07:09 pm

Fundamental Rating: 2.9

Stock Code ATUL Market Cap 18,633 Cr. Current Price 6,321 ₹ High / Low 7,793 ₹
Stock P/E 36.0 Book Value 1,973 ₹ Dividend Yield 0.39 % ROCE 11.9 %
ROE 8.64 % Face Value 10.0 ₹ DMA 50 6,304 ₹ DMA 200 6,311 ₹
Chg in FII Hold -0.86 % Chg in DII Hold 0.46 % PAT Qtr 121 Cr. PAT Prev Qtr 172 Cr.
RSI 49.7 MACD -24.5 Volume 18,212 Avg Vol 1Wk 31,667
Low price 4,752 ₹ High price 7,793 ₹ PEG Ratio -4.45 Debt to equity 0.00
52w Index 51.6 % Qtr Profit Var 30.8 % EPS 176 ₹ Industry PE 25.7

📊 Financial Overview

  • Revenue & Profitability: PAT declined from 172 Cr. to 121 Cr. (-30.8%), showing weakening profitability.
  • Margins & Returns: ROCE (11.9%) and ROE (8.64%) are modest, below industry leaders.
  • Debt: Debt-to-equity ratio at 0.00, indicating a debt-free balance sheet.
  • Cash Flow: Strong EPS (176 ₹), but declining quarterly profits raise concerns.

💹 Valuation Metrics

  • P/E Ratio: 36.0 vs Industry PE of 25.7 → Slightly overvalued.
  • P/B Ratio: Current Price ₹6,321 vs Book Value ₹1,973 → Reasonable compared to peers.
  • PEG Ratio: -4.45 → Negative, reflecting weak growth prospects.
  • Intrinsic Value: Current price above fair value zone, suggesting limited upside.

🏢 Business Model & Competitive Advantage

  • Diversified specialty chemicals portfolio with strong industry presence.
  • Debt-free structure provides financial resilience.
  • However, declining profitability and modest returns limit competitive strength.

📈 Entry Zone Recommendation

  • Technicals: RSI at 49.7 (neutral), MACD negative, price near 50DMA & 200DMA.
  • Suggested entry zone: ₹5,000–₹5,500 if correction occurs.
  • Long-term holding viable only if profitability stabilizes and growth resumes.


✅ Positive

  • Debt-free balance sheet.
  • Strong EPS (176 ₹).
  • Stable industry positioning in specialty chemicals.

⚠️ Limitation

  • Declining quarterly profits (-30.8%).
  • ROCE and ROE relatively weak.
  • PEG ratio negative, signaling poor growth outlook.

📉 Company Negative News

  • FII holding reduced (-0.86%).
  • Profitability under pressure with declining PAT.

📈 Company Positive News

  • DII holding increased (+0.46%).
  • Debt-free structure supports financial stability.

🏭 Industry

  • Industry PE at 25.7, lower than company’s 36.0.
  • Sector growth steady, but company’s valuation slightly stretched.

🔎 Conclusion

  • Atul has a strong balance sheet and industry presence but faces declining profitability.
  • Valuation is slightly above industry average, limiting near-term upside.
  • Best strategy: Wait for correction towards ₹5,000–₹5,500 before entry.
  • Long-term holding viable only if earnings stabilize and growth improves.

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