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Vinati Organics Ltd (VINATIORGA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524200 NSE: VINATIORGA Chemicals | Small Cap | Vinati Organics Share Price

₹1,310.30 -5.15 (-0.39%)

As on 04-Sep'26 16:59

Vinati Organics Ltd (VINATIORGA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524200 NSE: VINATIORGA Chemicals | Small Cap | Vinati Organics Share Price

₹1,310.30 -5.15 (-0.39%)

As on 04-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹13,583 Cr.
Current Price
₹1,310.3
52-Week Low / High
₹1,204 / 1,848
TTM EPS
₹43.3
TTM Sales
₹2,381 Cr.
Book Value per Share
₹315.5
P/E Ratio
30.29
Lower than its 5-year historical median
Industry PE
49.6
Price to Book (P/B)
4.15
Lower than its 5-year historical median
Price to Sales (P/S)
5.71
Lower than its 5-year historical median
EV/EBITDA
18.89
Lower than its 5-year historical median
Dividend Yield
0.65%
Profitability Efficiency
Return on Equity (ROE)
14.90%
Outperforms industry median
Return on Capital Employed (ROCE)
19.81%
Outperforms industry median
Return on Assets (ROA)
12.94%
Operating Profit Margin
29.4%
Net Profit Margin
19.93%
Gross Profit Margin
31.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-0.95%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
12.46%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
9.5%
Asset Quality
Promoter Holding
74.28%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹3,260 Cr.
Equity
₹10.4 Cr.
Face Value
₹1
All Time Low / High
₹0.13 / 2372.95

Vinati Organics stock performance

Key Ratios
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Check Before You Invest

Valuation

Fair

Price Trend

Semi Strong
Q.1 Is Vinati Organics Ltd a good quality company?
Vinati Organics Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Vinati Organics Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Vinati Organics Ltd vs industry peers?
Vinati Organics Ltd revenue CAGR is 18.47%, compared to the industry median CAGR of 7.91%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Vinati Organics Ltd?
Promoters hold 74.28% of the Vinati Organics Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Vinati Organics Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 15.9% based on the current price.

DeciZen - make an informed investing decision on Vinati Organics

Decision Maker
Consolidated basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Vinati Organics Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 0%0%0%33.3%23.8%26.6%27.7%18.5%20.2%19.8%-
Value Creation
Index
NANANA1.50.81.01.10.40.50.5-

Growth Parameters

Sales 0001,0299541,6162,0661,9002,2482,2272,381
Sales YoY Gr.-NANANA-7.3%69.3%27.9%-8.1%18.3%-1%-
Adj EPS 0003125.431.437.929.437.739.743.3
YoY Gr.-NANANA-17.9%23.5%20.7%-22.5%28.2%5.5%-
BVPS (₹) 000124.5150.2177.9199.7222269.4304.9315.5
Adj Net
Profit
000318261323389304390412449
Cash Flow from Ops. 000416219127515332458558-
Debt/CF from Ops. 000000.20.100.10-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NA18.5%2.5%-1%
Adj EPS NA9.4%1.6%5.5%
BVPSNA15.2%15.2%13.2%
Share Price 16% -6.8% -11.9% -22.9%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
00024.918.519.119.31314.913.814
Op. Profit
Mgn %
00040.3372727.824.825.929.427.9
Net Profit
Mgn %
00030.927.42018.81617.418.518.8
Debt to
Equity
0000000000-
Working Cap
Days
000019219117718917117487
Cash Conv.
Cycle
000099919111010210970

Valuation of Vinati Organics - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.840.840.840.840.840.000.841.070.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales1,0299541,6162,0661,9002,2482,227
Operating Expenses + 6146011,1801,4931,4291,6661,572
Manufacturing Costs103116206280244276301
Material Costs4293888611,0741,0111,1961,034
Employee Cost 647384100119140175
Other Costs 18253039555462
Operating Profit 415353435573471582655
Operating Profit Margin (%) 40.3%37.0%27.0%27.7%24.8%25.9%29.4%
Other Income + 45266152394453
Exceptional Items 0000000
Interest 2123521
Depreciation 334345597389111
Profit Before Tax 425335449563432536595
Tax 9166103144109131151
Profit After Tax 334269347419323405444
PAT Margin (%) 32.5%28.2%21.5%20.3%17.0%18.0%19.9%
Adjusted EPS (₹)32.526.233.740.831.239.142.8
Dividend Payout Ratio (%)16.90%22.90%19.30%17.20%22.50%19.20%19.90%
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,2791,5431,8282,0532,4622,7933,162
Share Capital 10101010101010
Reserves 1,2691,5331,8182,0422,4512,7833,151
Debt +0218355630
Long Term Debt00010000
Short Term Debt0218255630
Minority Interest0000000
Trade Payables5667109121101148121
Others Liabilities 108122134374273275296
Total Liabilities 1,4431,7342,0902,5842,8403,2793,579

Fixed Assets

Net Fixed Assets +7517578731,1591,4891,7242,122
Gross Block8569051,0671,4121,8142,1292,638
Accumulated Depreciation106148194253325405516
CWIP 315651242249438214
Investments 227289942276436190
Inventories93122176233199221311
Trade Receivables202277458464530592521
Cash Equivalents 5474131346
Others Assets 85227433245297264214
Total Assets 1,4431,7342,0902,5842,8403,2793,579
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 416219127515332458558
PBT 425335449563432536595
Adjustment 11301259617488
Changes in Working Capital 81-85-22624-74-5811
Tax Paid -101-61-108-131-87-94-136
Cash Flow From Investing Activity + -197-198-255-329-348-443-414
Capex -309-49-162-343-397-497-269
Net Investments -671336-174040-144
Others 179-162-129319150
Cash Flow From Financing Activity + -109-3-47-62-108-16-141
Net Proceeds from Shares 0000000
Net Proceeds from Borrowing 0000-1000
Interest Paid -1-0-0-1-4-1-0
Dividend Paid -105-6-62-67-72-72-78
Others -33166-2257-63
Net Cash Flow 10918-175124-12503
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)26.0919.0820.5621.614.3115.4214.9
ROCE (%)33.3423.826.5927.6718.5420.2219.81
Asset Turnover Ratio0.710.60.840.890.70.730.65
PAT to CFO Conversion(x)1.250.810.371.231.031.131.26
Working Capital Days
Receivable Days71.6091.6083.1081.2095.4091.1091.30
Inventory Days33.1041.1033.703641.5034.1043.60
Payable Days47.4055.7035.8037.5038.9033.2042

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Vinati Organics Ltd FAQs

The current trading price of Vinati Organics on 04-Sep-2026 16:59 is ₹1,310.3.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Sep-2026 the market cap of Vinati Organics stood at ₹13,583.3 Cr

The latest P/E ratio of Vinati Organics as of 03-Sep-2026 is 27.25.

The latest P/B ratio of Vinati Organics as of 03-Sep-2026 is 4.07.

The 52-week high of Vinati Organics is ₹1,847.9 and the 52-week low is ₹1,204.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Vinati Organics is ₹2,384 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Vinati Organics Ltd is a good quality company.

The key valuation ratios of Vinati Organics Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Vinati Organics Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Vinati Organics Ltd

Vinati Organics (VOL) emerged early in speciality chemicals industry by blending innovation with advanced chemistry to create value-added products. Since 1989, the company has grown from a single-product operation to a key player in the specialty chemicals and organic intermediates, now offering many products. With a presence in several countries, the company supplies major industrial and chemical companies across the US, Europe, and Asia. The company’s state-of-the-art manufacturing plants in Mahad and Lote enable it to deliver a broad, specialised portfolio to niche markets worldwide. With offerings ranging from organic to niche specialty chemicals, the company meets diverse global needs. Backed by strong R&D, the company delivers reliable, cost-efficient solutions. Its commitment to innovation ensures continued leadership in high-value segments, thereby connecting the worlds through chemistry.

Business area of the company

Vinati Organics is a leading manufacturer of specialty chemical and organic intermediaries with a sustained market presence spanning over the world. The company offers a wide variety of products, serving a diverse spectrum of industries. The company is a leading producer of two major products - Isobutyl Benzene (IBB) and 2-Acrylamido 2 Methylpropane Sulfonic Acid (ATBS).

Products of the company

  • Speciality Aromatics
  • Speciality Monomers
  • Butyl Phenols
  • Antioxidants
  • Other Speciality Products
  • Miscellaneous Polymer
  • Inorganic Chemicals

Awards/ recognition

  • Mahad Works ISO Certificate
  • Ote Works ISO Certificate
  • National Safety Award
  • Maharashtra State Export Award
  • Worlds’ largest producer and supplier of IBB with global product presence IBB is presently being used and appreciated by all manufactures of Ibuprofen in the world including the founder manufacturer of Ibuprofen i.e. M/s. Knoll Pharmaceuticals of UK and BASF Corporation of USA.
  • World’s third biggest and fastest growing supplier of ATBS and related products. Presently exporting ATBS to Europe, Americas and Asia.
  • Presently being used and appreciated by all manufactures of Ibuprofen in India. Its quality is also internationally acclaimed and appreciated by the founder manufacturer of Ibuprofen i.e. Knoll Pharmaceuticals of UK and BASF Corporation of USA.
  • The Company was awarded the ‘Supplier of the Year’ (FY 2014-15) by BASF.
  • VOL was ranked among the ‘Fastest Growing Companies’ in India Outlook Business in May 2014.
  • In the FE CFO of the Year Awards 2019, VOL was adjudged winner in the Large Enterprises - Manufacturing Category.
  • VOL was declared STAR SME of the Year by the Business Standard Annual Awards 2019.
  • VOL adjudged Company of the Year in Chemicals by FICCI Chemicals and Petrochemicals Awards 2019.
  • VOL was named the Most Promising Company of the Year by CNBC-TV18 IBLA 2020.
  • VOL has been awarded the National Award for Successful Commercialization of Indigenous Technology by the Technology Development Board (TDB) for the year 2019-20.
  • In the Financial Express CFO of the Year Awards 2020, VOL was adjudged Winner in the Large Enterprises - Manufacturing Category.
  • Vinati Organics was honoured with the EcoVadis Gold Award 2025, recognising its strong commitment to sustainability and responsible business practices.

Milestones

  • 1989: Vinati Organics Limited (VOL) established
  • 1992: Isobutylbenzene (IBB) plant comes onstream with 1200 MTA  production capacity 
  • 1996: IBB capacity expansion to 3000 MTA
  • 1997: IBB capacity expansion to 5000 MTA
  • 2002: ATBS plant onstream with 1000 MTA production capacity
  • 2006: IBB capacity expansion to 10,000 MTA. ATBS capacity expansion to 3600 MTA
  • 2007: Started n-tertiary Butylacrylamide (TBA) production
  • 2008: IBB capacity expansion to 14,000 MTA
  • 2009: ATBS capacity expansion to 12000 MTA. TBA capacity expansion to 500 MTA
  • 2010: Isobutylbene plant came to stream with a capacity of 12,000 MT.
  • 2011: HP MTBE plant commissioned with a capacity of 7000 MT.
  • 2011: Credit rating agency, ICRA has suspended LBBB+ rating assigned to Rs 61.3 crore term loans and Rs 30.0 crore cash credit facilities, and, A2 rating to Rs 11 crore bank guarantees' and Rs 10 crore letter of credit facilities of Vinati Organics.
  • 2013: ATBS plant expanded to 26,000 MT.
  • 2013: Credit rating agency, CARE has reaffirmed 'A-' rating to Vinati Organics' long term bank facilities (Term loan) worth Rs 145.29 crore and 'A2+' rating to company's Short term Bank Facilities (Non-fund based facilities) worth Rs 32.13 crore.  
  • 2015: Vinati Organics entered into long term tripartite agreement with USA & Japan based chemical companies for supply of a customized product. 
  • 2016: Tertiary ButylAmine and customized product plant commissioned. 
  • 2017: Vinati Organics expand IsoButyl Benzene (IBB) capacity to 25000 MT at its Mahad facility in order to meet the strong demand outlook for the product.
  • 2020: Butyl Phenols project commissioned.
  • 2021: ATBS plant expanded to 40,000 MT.
  • 2022: Full scale antioxidant commissioning and production.
  • 2024: ATBS expansion and commissioning of MEHQ, Guaiacol and Iso Amylene derivatives.
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