Financials Atul Ltd NSE India S.E.

Equities

ATUL

INE100A01010

Diversified Chemicals

Market Closed - NSE India S.E. 05:10:29 21/05/2024 pm IST 5-day change 1st Jan Change
5,987 INR -0.35% Intraday chart for Atul Ltd +0.90% -16.33%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,05,978 1,17,901 2,09,354 3,04,397 2,05,442 1,75,987 - -
Enterprise Value (EV) 1 1,05,978 1,12,092 2,02,499 3,05,204 2,05,532 1,68,936 1,77,760 1,75,987
P/E ratio 24.3 x 17.7 x 32 x 50.4 x 40 x 52.4 x 36.2 x 27 x
Yield 0.42% - 0.28% 0.24% 0.36% 0.42% 0.5% 0.65%
Capitalization / Revenue 2.6 x 2.83 x 5.46 x 5.9 x 3.79 x 3.57 x 3.21 x 2.79 x
EV / Revenue 2.6 x 2.69 x 5.28 x 5.92 x 3.79 x 3.57 x 3.24 x 2.79 x
EV / EBITDA 13.8 x 12.4 x 22.1 x 33.5 x 26.5 x 26.5 x 21.1 x 16.8 x
EV / FCF 54.3 x 22.1 x 51.2 x -84.9 x -122 x 155 x 65.3 x 68.8 x
FCF Yield 1.84% 4.53% 1.95% -1.18% -0.82% 0.65% 1.53% 1.45%
Price to Book 3.92 x 3.74 x 5.48 x 6.88 x 4.4 x 3.51 x 3.21 x 2.94 x
Nbr of stocks (in thousands) 29,662 29,662 29,587 29,587 29,514 29,441 - -
Reference price 2 3,573 3,975 7,076 10,288 6,961 5,978 5,978 5,978
Announcement Date 26/04/19 28/04/20 30/04/21 26/04/22 28/04/23 26/04/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 40,727 41,711 38,344 51,569 54,275 47,257 54,812 62,970
EBITDA 1 7,668 9,020 9,171 9,114 7,748 6,367 8,424 10,448
EBIT 1 6,479 7,718 7,808 7,348 5,770 3,938 5,762 7,457
Operating Margin 15.91% 18.5% 20.36% 14.25% 10.63% 8.33% 10.51% 11.84%
Earnings before Tax (EBT) 1 6,753 8,404 8,817 8,097 6,878 4,506 6,207 8,078
Net income 1 4,360 6,665 6,558 6,043 5,141 3,230 4,868 6,465
Net margin 10.71% 15.98% 17.1% 11.72% 9.47% 6.84% 8.88% 10.27%
EPS 2 147.0 224.7 221.2 204.2 174.2 109.5 165.2 221.1
Free Cash Flow 1 1,952 5,074 3,954 -3,594 -1,680 1,072 2,721 2,558
FCF margin 4.79% 12.16% 10.31% -6.97% -3.1% 2.25% 4.96% 4.06%
FCF Conversion (EBITDA) 25.46% 56.25% 43.12% - - 16.1% 32.31% 24.49%
FCF Conversion (Net income) 44.78% 76.13% 60.3% - - 28.29% 55.9% 39.57%
Dividend per Share 2 15.00 - 20.00 25.00 25.00 24.95 29.72 38.63
Announcement Date 26/04/19 28/04/20 30/04/21 26/04/22 28/04/23 26/04/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2024 S2
Net sales 1 16,626 9,529 11,346 10,802 12,500 13,803 13,926 15,128 14,873 12,682 11,952 11,820 11,263 11,964 11,921 -
EBITDA 1 4,198 2,430 2,543 2,361 2,187 2,515 2,052 2,330 2,203 1,722 1,494 1,823 1,665 1,542 1,620 3,107
EBIT 1 - 2,096 2,177 1,928 1,747 2,061 1,612 - 1,712 1,219 983 1,303 1,221 1,154 1,012 -
Operating Margin - 21.99% 19.19% 17.85% 13.97% 14.93% 11.57% - 11.51% 9.61% 8.22% 11.03% 10.84% 9.64% 8.49% -
Earnings before Tax (EBT) 1 - - - 2,204 1,940 2,072 1,818 2,200 2,011 1,425 1,219 1,385 1,138 1,128 1,129 -
Net income 1 2,921 1,886 - 1,659 1,466 1,554 1,363 1,645 1,509 1,051 935.6 1,034 931.7 884.5 836.2 -
Net margin 17.57% 19.79% - 15.36% 11.73% 11.26% 9.78% 10.88% 10.15% 8.29% 7.83% 8.74% 8.27% 7.39% 7.02% -
EPS 2 98.49 - - 56.09 49.56 52.53 46.05 55.70 51.11 35.60 31.69 35.02 30.38 32.52 28.84 -
Dividend per Share - - - - - - - - - - - - - - - -
Announcement Date 23/10/20 29/01/21 30/04/21 23/07/21 29/10/21 28/01/22 26/04/22 22/07/22 21/10/22 20/01/23 28/04/23 21/07/23 - - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - 807 89.3 - 1,773 -
Net Cash position 1 - 5,809 6,855 - - 10,071 - -
Leverage (Debt/EBITDA) - - - 0.0885 x 0.0115 x - 0.2105 x -
Free Cash Flow 1 1,952 5,074 3,954 -3,595 -1,680 1,072 2,721 2,559
ROE (net income / shareholders' equity) 17.6% 22.7% 18.8% 14.6% 11.3% 7.91% 8.94% 11%
ROA (Net income/ Total Assets) - - 14.4% - 8.96% 6.3% 7.9% -
Assets 1 - - 45,439 - 57,372 60,150 61,624 -
Book Value Per Share 2 912.0 1,064 1,291 1,496 1,582 1,703 1,864 2,035
Cash Flow per Share 2 - - - - 239.0 313.0 198.0 -
Capex 1 2,084 3,740 3,225 5,909 8,747 7,401 4,875 4,274
Capex / Sales 5.12% 8.97% 8.41% 11.46% 16.12% 15.55% 8.89% 6.79%
Announcement Date 26/04/19 28/04/20 30/04/21 26/04/22 28/04/23 26/04/24 - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
11
Last Close Price
5,978 INR
Average target price
6,126 INR
Spread / Average Target
+2.49%
Consensus
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