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Acutaas Chemicals Limited (ACUTAAS)

₹3,206.00 +2.35% last close, 16 Oct

📊 NSE: ACUTAAS 🏢 Pharmaceuticals 📢 Latest filing: 06 Oct 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Acutaas Chemicals' revenue was ₹330 Cr (+59.1% year on year, -23.9% on the previous quarter), and net profit ₹75.0 Cr (+70.4% year on year); the operating margin was 34.3%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹330	+59.1%	-23.9%
Operating profit	₹113	+122.1%	-38.5%
Net profit	₹75.0	+70.4%	-44.0%
EPS (₹)	9.07	+67.7%	-43.6%
Operating margin	34.3%	—	—

Full quarterly financials → Results calendar →

ACUTAAS delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 45.19% of the ACUTAAS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 48.09%. That is close to its usual level.

45.19%Delivery, 16 Oct

48.09%Own 20-session average

1.4×Volume vs its average

₹3,206.00NSE close · +2.35%

Delivery in the last 5 sessions: 47.6% · 49.7% · 51.9% · 54.9% · 45.2%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Acutaas Chemicals Submits Nil Demat Request Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 06 Oct 2026, 05:06 PM

Acutaas Chemicals Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirmed that zero requests for dematerialisation of securities were received, confirmed, or rejected during the period. Consequently, no security certificates were mutilated or cancelled. This is a standard procedural quarterly filing with no impact on company operations or financials.

Regulation 74(5) compliance certificate submitted for the quarter ended September 30, 2026
0 dematerialisation requests received, confirmed, or rejected during the quarter
Certificate issued on October 06, 2026 by RTA MUFG Intime India Private Limited

💡 No action required. Investors should track upcoming Q2 FY27 earnings announcements for fundamental operational updates.

Acutaas Chemicals Reappoints Two Directors for 5-Year Terms Effective Feb 2027

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 26 Sep 2026, 07:21 PM

Shareholders of Acutaas Chemicals approved the reappointment of Mr. Ram Mohan Lokhande as Whole Time Director for a 5-year term from February 8, 2027, to February 7, 2032. Additionally, Mrs. Anita Bandyopadhyay was reappointed as Non-Executive Independent Director for a second 5-year term spanning the same dates. Both approvals were confirmed at the 19th AGM held on September 24, 2026. The move ensures leadership continuity across plant operations and board governance well ahead of their tenure expirations.

Reappointment of Mr. Ram Mohan Lokhande as Whole Time Director for 5 consecutive years
Reappointment of Mrs. Anita Bandyopadhyay as Independent Director for a second 5-year term
Both 5-year terms will run from February 08, 2027, till February 07, 2032
Resolutions approved at the 19th Annual General Meeting held on September 24, 2026

💡 Track operational execution in the CDMO and semiconductor chemicals segments alongside upcoming quarterly earnings; no immediate action is warranted for this governance routine.

Acutaas Chemicals AGM: ESOP Resolution for Subsidiaries Fails with 27.37% Against

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Sep 2026, 07:09 PM

Acutaas Chemicals submitted voting results for its 19th AGM held on September 24, 2026. All resolutions were approved with requisite majorities except Resolution No. 7, a special resolution to grant employee stock options to subsidiary employees under the ESOP Scheme 2023, which was defeated after receiving 27.371% votes against (only 72.629% in favour vs. required 75%). Shareholders approved all other proposals, including the FY26 final dividend, loans/guarantees under section 185, and material related-party transactions with Acutaas Chemicals Electrolytes Private Limited.

Resolution No. 7 failed as a special resolution, securing only 72.629% votes in favour and 27.371% against
Resolution No. 2 declaring final dividend for FY26 approved with 99.9998% votes in favour
Material related-party transactions with subsidiary Acutaas Chemicals Electrolytes approved with 99.9995% votes in favour
Total voting turnout represented 61,259,294 votes across remote e-voting and electronic voting at the AGM

💡 Track subsequent company disclosures regarding employee incentive structures for subsidiaries following the rejection of Resolution 7.

Acutaas Chemicals to acquire 100% stake in Enchem Ami Organics for Rs 1 Lakh

🟡 NEUTRAL ⭐ 3/10

M&A 📅 24 Sep 2026, 07:53 PM

Acutaas Chemicals Limited has approved the acquisition of a 100% equity stake in its step-down subsidiary, Enchem Ami Organics Private Limited (EAOPL), for a total cash consideration of Rs 1,00,000. EAOPL was previously held by Acutaas Chemicals Electrolytes Private Limited and reported nil revenue for FY25 and FY26. Upon completion within one month, EAOPL will transition from a step-down subsidiary to a direct wholly owned subsidiary. The transaction is an internal group restructuring with negligible capital outlay relative to Acutaas's Rs 17,117 crore market capitalization.

Acquisition of 10,000 equity shares (100% stake) at Rs 10 face value each
Total consideration is Rs 1,00,000 paid in cash
EAOPL reported Nil turnover for FY2024-25 and FY2025-26
Transaction to be completed within one month from board approval

💡 Monitor subsequent disclosures on how EAOPL fits into Acutaas's electrolyte additives or specialty chemical commercialization roadmap.

Acutaas Chemicals Schedules Investor Meetings for September 28, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 22 Sep 2026, 01:56 PM

Acutaas Chemicals Limited (formerly Ami Organics Limited) has informed the exchanges that company officials will attend the 'PL Capital Mid & Small Cap Conference 2026 - Emerging Titans' on September 28, 2026. The interactions will take place physically at BKC, Mumbai, in one-on-one and group formats. The company explicitly noted that no unpublished price-sensitive information (UPSI) will be discussed during the meetings.

Conference date scheduled for Monday, September 28, 2026
Attending 'PL Capital Mid & Small Cap Conference 2026 Emerging Titans: Unlocking India’s Next Growth Leaders'
Format includes One on One and Group Meetings in BKC, Mumbai
Company confirmed no unpublished price-sensitive information will be discussed

💡 Monitor any subsequent investor presentation filings or disclosures uploaded to the stock exchanges post-conference.

Acutaas Chemicals Granted Indian Process Patent for 2,4-Dimethylthiophenol; Patent Tally at 11

🟢 POSITIVE ⭐ 4/10

OTHER 📅 10 Sep 2026, 06:01 PM

Acutaas Chemicals Limited has been granted a process patent by the Indian Patent Office for its indigenously developed invention titled 'A PROCESS FOR PREPARING 2,4-DIMETHYLTHIOPHENOL'. The patent has a 20-year term starting from the filing date of September 21, 2017. This addition brings the total count of granted patents held by the company to 11. While reinforcing intellectual property rights, the financial impact depends on commercial scale.

Process patent granted on September 10, 2026 by the Indian Patent Office
Term of 20 years effective from filing date September 21, 2017
Developed indigenously at the company's R&D Centre
Total number of patents granted to the company increases to 11

💡 Monitor upcoming quarterly updates for details on commercialization, application scope, and margin accretion tied to this patented chemical process.

Acutaas Chemicals Inaugurates OEB 4 Pilot Plant at Sachin for High-Potency API Intermediates

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 04 Sep 2026, 12:06 PM

Acutaas Chemicals Limited (formerly Ami Organics Limited) has inaugurated a new pilot plant at its Unit 1 facility in Sachin, Surat on September 4, 2026. The plant includes a dedicated area designed for Occupational Exposure Band (OEB) 4 containment, allowing scale-up and development of highly potent intermediates for high-potency APIs (HPAPIs). The facility will also support R&D trials and validations for new pipeline products. While specific capex figures were not disclosed, this enhances the company's CDMO capabilities in higher-margin potent compounds against its TTM revenue base of Rs 843 Cr.

Inaugurated new state-of-the-art pilot plant at Unit 1 - Sachin, Surat on September 4, 2026
Equipped with dedicated Occupational Exposure Band (OEB) 4 containment infrastructure
Enables scale-up and commercial development of highly potent intermediates for HPAPIs
Capex and capacity additions for the pilot plant were not disclosed

💡 Track management commentary in upcoming quarterly calls regarding CDMO pipeline conversions, client validation timelines, and revenue contribution from high-potency molecules.

Acutaas Chemicals Issues TDS Intimation for ₹2.50/Share Final Dividend; Record Date Sept 17, 2026

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 29 Aug 2026, 08:50 PM

Acutaas Chemicals Limited has issued a communication to shareholders regarding Tax Deducted at Source (TDS) on its recommended final dividend of ₹2.50 per equity share (face value ₹5) for FY 2025-26. The dividend is subject to approval at the 19th Annual General Meeting scheduled for September 24, 2026. The record date to determine eligible shareholders is September 17, 2026. Shareholders must submit necessary tax exemption forms (such as Form 121 or Tax Treaty declarations) on or before September 15, 2026.

Board recommended final dividend of ₹2.50 per equity share (face value ₹5) for FY 2025-26
Record date fixed as September 17, 2026 to determine eligible shareholders
Annual General Meeting (AGM) scheduled for September 24, 2026 to approve the payout
Deadline for shareholders to submit tax exemption forms/declarations is September 15, 2026
Standard TDS rate of 10% for resident individuals with valid PAN (exempt up to ₹10,000 dividend)

💡 Shareholders seeking lower/nil withholding tax should ensure PAN is linked with Aadhaar and submit relevant forms to the RTA by September 15, 2026, ahead of the September 17, 2026 record date.

Acutaas Chemicals Sets Sep 17, 2026 Record Date for ₹2.50/Share Final Dividend

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 29 Aug 2026, 08:46 PM

Acutaas Chemicals Limited has fixed Thursday, September 17, 2026, as the record date to determine shareholder eligibility for a final dividend of ₹2.50 per equity share (50% on face value of ₹5) for FY 2025-26. The dividend is subject to shareholder approval at the upcoming 19th Annual General Meeting scheduled for September 24, 2026. Once approved, the payout will be completed within 30 days of the AGM declaration.

Final dividend rate fixed at 50% or ₹2.50 per equity share of face value ₹5
Record date set for Thursday, September 17, 2026
19th Annual General Meeting (AGM) scheduled for Thursday, September 24, 2026
Payment to be credited within 30 days of shareholder approval at the AGM

💡 Investors seeking dividend eligibility must hold shares before the ex-dividend date preceding September 17, 2026, and track shareholder voting outcomes at the AGM on September 24, 2026.

Acutaas Chemicals Convenes 19th AGM on Sep 24, 2026; Proposes ₹2.50/Share Final Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Aug 2026, 08:37 PM

Acutaas Chemicals Limited has issued the notice for its 19th Annual General Meeting scheduled for September 24, 2026 via video conferencing. The company is seeking shareholder approval for an ordinary business agenda, including the declaration of a 50% final dividend of ₹2.50 per equity share (face value ₹5) across 8,18,71,122 shares. Additional resolutions include the reappointment of Mr. Ram Mohan Lokhande as Whole Time Director for a five-year term starting February 2027 and cost auditor remuneration ratification.

19th Annual General Meeting scheduled for Thursday, September 24, 2026, at 11:30 AM IST
Proposed final dividend of ₹2.50 per equity share (50% of face value ₹5) on 8,18,71,122 shares (~₹20.47 Cr total payout)
Cut-off date for e-voting eligibility set for Thursday, September 17, 2026
Remote e-voting window open from September 21, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)

💡 Eligible shareholders should track the cut-off date of September 17, 2026, to participate in the remote e-voting and monitor voting outcomes post-AGM.

Acutaas Subsidiary Inaugurates ~₹200 Cr Semiconductor Materials Plant in South Korea

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 28 Aug 2026, 08:53 AM

Acutaas Chemicals' step-down subsidiary, Indichem Inc., has inaugurated its semiconductor materials plant in Gongju, South Korea. Acutaas Advance Material Limited holds a 75% stake in Indichem and has invested KRW 30 billion (approx. ₹200 crore), representing ~23.7% of Acutaas' TTM revenue of ₹843 crore. Completed in 11 months, the facility spans 16,513.7 sq. m. and utilizes a two-country model where chemicals are synthesised in India and refined to semiconductor grade (parts-per-billion purity) in Korea close to customer clusters.

Commissioned semiconductor chemicals plant at Gongju, South Korea, completed within 11 months of its September 29, 2025 groundbreaking.
Acutaas Advance Material Limited invested KRW 30 billion (approx. ₹200 crore) for a 75% stake in JV partner Indichem Inc.
Facility spans 16,513.7 sq. m. across three buildings including production block, HQ/R&D/pilot plant, and warehouse.
J & Materials Co. Ltd holds the remaining 25% stake under the joint venture agreement signed June 27, 2025.

💡 Track customer qualification cycles and commercial shipment ramp-up schedules in upcoming quarterly management commentaries.

Acutaas Chemicals Approves ₹212 Cr Capex for 81,000 MTPA Electronic Chemicals Plant

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 22 Aug 2026, 05:35 PM

Acutaas Chemicals has approved a capital expenditure plan of up to ₹212 crore to set up a greenfield/brownfield manufacturing facility in Gujarat for new electronic grade chemicals. The proposed plant will have an annual capacity of up to 81,000 MT per annum and is scheduled to be completed by the end of FY 2027-28. The capex, representing ~25.1% of TTM revenue (₹843 crore), will be funded via internal accruals, bank financing, or other permissible methods. Additionally, the Board approved the re-appointment of two directors and extended the ESOS 2023 scheme to Indian subsidiary employees.

Approved capital expenditure of up to ₹212 crore for electronic grade chemicals in Gujarat
Proposed production capacity of up to 81,000 MT per annum (existing capacity: Nil)
Target completion timeline set for the end of FY 2027-28
Funding to be managed via internal accruals, bank debt, or other financing methods
19th AGM scheduled for September 24, 2026

💡 Track progress on land acquisition, environmental clearances, financing closure, and execution updates toward the FY28 target commissioning.

Acutaas Wins MeitY ECMS Incentive Approval for ₹256.47 Cr Electrolyte Project

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 18 Aug 2026, 10:53 AM

Acutaas Chemicals Limited has received formal approval under the Ministry of Electronics and Information Technology's (MeitY) Electronics Components Manufacturing Scheme (ECMS). The approval applies to its Electrolyte Additives manufacturing business located at Jhagadia, Gujarat. Total cumulative project investment is ₹256.47 crores (~30.4% of TTM revenue), with ₹119.12 crores qualifying as eligible investment. Under the scheme, Acutaas is eligible to receive incentives of up to 25% on the eligible investment (approx. ₹29.78 crores) over a 5-year period ending in FY 2030-31.

Approval granted under ECMS by Project Management Agency Engineers India Limited on August 17, 2026
Cumulative investment under the Jhagadia project stands at ₹256.47 crores
Eligible investment approved under the scheme is ₹119.12 crores
Incentive of up to 25% on eligible capex (~₹29.78 crores) available over 5 years up to FY 2030-31

💡 Track the commercial production ramp-up of the Jhagadia electrolyte additives plant and verify whether incentive milestones are met in upcoming annual disclosures.

Acutaas Chemicals schedules investor meets in Singapore and Mumbai for Aug 12-13, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Aug 2026, 12:54 PM

Acutaas Chemicals (formerly Ami Organics) has announced its participation in two upcoming institutional investor conferences. The company will attend the Nuvama 21% India Investor Conference in Singapore on August 12, 2026, and the Equirus India Growth Summit in Mumbai on August 13, 2026. These interactions will consist of one-on-one and group meetings. No unpublished price-sensitive information is intended to be discussed during these sessions.

Scheduled Nuvama 21% India Investor Conference in Singapore on August 12, 2026
Scheduled Equirus India Growth Summit in Mumbai on August 13, 2026
Company currently maintains a high P/E ratio of 93.6 with a market cap of Rs 16,722 Cr
TTM revenue stands at Rs 822 Cr with an operating profit margin of 46.5%

💡 Investors should monitor the exchange for any investor presentations or transcripts released following these meetings for updates on the CDMO business ramp-up and semiconductor chemical commercialization.

59.1% Revenue Growth in Q1 FY27; Battery Chemicals Commercial Supply Commences

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 28 Jul 2026, 06:24 PM

Acutaas Chemicals reported a robust Q1 FY27 with revenue reaching ₹329.7 crore, a 59.1% YoY increase, primarily driven by a 76.5% surge in the Pharma Intermediates segment. The company has successfully transitioned from trial runs to commercial supply for its battery chemicals plant, targeting a rapid ramp-up. While the Specialty Chemicals segment saw a 10.6% YoY decline due to the deliberate phasing out of low-margin commodity chemicals, gross margins expanded by 466 bps to 57.9%. Management has maintained a full-year revenue growth guidance of 25% with stable margins.

Q1 FY27 Revenue grew 59.1% YoY to ₹329.7 crore, representing ~40% of total TTM revenue in a single quarter.
Pharma Intermediates segment revenue jumped 76.5% YoY to ₹292.7 crore, now contributing ~89% of total revenue.
Gross margins expanded significantly by 466 bps YoY to 57.9% due to a better product mix.
Incurred ₹56 crore in capex during the quarter, with ₹41 crore focused on battery chemicals and maintenance.
Management reaffirmed 25% revenue growth guidance for FY27 despite geopolitical logistical challenges.

💡 Watch for the execution and volume ramp-up in the battery chemicals and semiconductor segments over the next 2-3 quarters to see if they can offset the planned phase-out of commodity chemicals.

View All ACUTAAS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The Pharmaceutical Intermediates segment grew 50% YoY to INR 854 Cr in FY25, while the Specialty Chemicals segment grew 2.2% YoY to INR 152.9 Cr. Total revenue for Q2 FY26 reached INR 306.2 Cr, representing a 24.1% YoY growth, and H1 FY26 revenue reached INR 513.4 Cr, a 21% increase.

Geographic Revenue Split

In FY25, exports accounted for 74% of total revenue, while the domestic business contributed 26%. The company has a widespread geographical presence across more than 55 countries.

Profitability Margins

Gross margin for Q2 FY26 was 55.8%, an expansion of 1,232 basis points YoY. PAT margin for Q2 FY26 was 23.5%, expanding by 824 basis points. FY25 PBILDT margin was 23.51%, up from 18.39% in FY24, driven by a shift in sales mix toward higher-margin products.

EBITDA Margin

EBITDA margin for Q2 FY26 was 31.1%, up 1,130 basis points YoY. The company has provided a guidance of 28% to 30% for FY26, driven by higher CDMO contribution and operational efficiencies.

Capital Expenditure

Gross Cash Accruals (GCA) doubled to INR 193.59 Cr in FY25 from INR 100.70 Cr in FY24, supporting internal funding of projects. Block 3 was commissioned in Q4 FY24 and is now operational to meet customer requirements.

Credit Rating & Borrowing

The company holds a CARE A+; Stable / CARE A1+ rating as of December 2025. Interest coverage is exceptionally strong at 119.86x for H1 FY26, with an overall gearing ratio of 0.01x as of September 30, 2025.

⚙️ Operational Drivers

Raw Materials

Key Starting Materials (KSM) and specific chemicals like VC and FEC for the electrolyte business; raw material costs represent approximately 72% of the total cost of sales.

Import Sources

Approximately 71% of raw materials are sourced domestically from India, while 21% are imported from China to ensure supply chain resilience.

Capacity Expansion

Block 3 was commissioned in Q4 FY24 for dedicated contracts. The company also operates a 6MW captive solar plant to drive energy efficiency. Electrolyte additive commercial operations have commenced with a ramp-up expected from FY26.

Raw Material Costs

Raw material costs account for 72% of total cost of sales. The company manages volatility by revising export prices quarterly based on KSM prices and using spot pricing for domestic sales.

Manufacturing Efficiency

The company is transitioning to Flow Chemistry to reduce solvent consumption and improve input-output efficiency. Operating leverage contributed to the 1,130 bps expansion in EBITDA margins in Q2 FY26.

📈 Strategic Growth

Expected Growth Rate

25%

Growth Strategy

Growth will be achieved through the ramp-up of the CDMO business, which saw sharp growth in Q2 FY26, and the commercialization of semiconductor chemicals through Baba Fine Chemicals. The company is also churning out low-margin products from its core pharma portfolio to improve margins while maintaining a 25% revenue growth target. New verticals like electrolyte additives are expected to contribute significantly from FY26 onwards.

Products & Services

Advanced pharmaceutical intermediates for regulated and generic APIs, New Chemical Entities (NCE), photo-resistant specialty chemicals, and electrolyte additives for batteries.

Brand Portfolio

Acutaas Chemicals (formerly Ami Organics), Baba Fine Chemicals, Indichem (Korea), and Acutaas Advance Material Limited.

New Products/Services

Semiconductor chemicals and electrolyte additives for batteries; electrolyte business has firm orders in hand for FY26 ramp-up.

Market Expansion

Expanding Baba Fine Chemicals into new geographies and diversifying the international footprint across 55+ countries to mitigate regional economic slowdowns.

Strategic Alliances

Acquisition of a non-controlling stake in Indichem (Korea) and the acquisition of Baba Fine Chemicals (now Acutaas Advance Material Limited).

🌍 External Factors

Industry Trends

The specialty chemicals industry is evolving toward sustainable processes like Flow Chemistry. Acutaas is positioning itself as a diversified player across pharma, semiconductors, and battery chemicals to capture a 31% historical CAGR trend.

Competitive Landscape

Faces intensifying competition in specialty chemicals which can affect pricing; responds through product differentiation and cost leadership.

Competitive Moat

Moat is built on R&D capabilities, a portfolio of 610+ products, and high switching costs for customers in the regulated pharma space. This is sustainable due to the long-term nature of CDMO contracts and stringent regulatory approvals.

Macro Economic Sensitivity

Sensitive to global pharmaceutical demand and semiconductor industry cycles; revenue is highly dependent on the 74% export market.

Consumer Behavior

Shift toward energy-efficient and environmentally friendly chemical processes is driving the adoption of Flow Chemistry.

Geopolitical Risks

Ongoing tensions could disrupt the 21% of raw materials sourced from China or impact the 74% export revenue across 55 countries.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to strict regulatory standards for pharmaceutical intermediates and EHS protocols. Non-compliance could lead to operational disruptions.

Environmental Compliance

The company must adhere to stringent EHS regulations; it has invested in a 6MW solar plant and Flow Chemistry to meet environmental standards.

Taxation Policy Impact

Current tax provision for FY25 was INR 49.19 Cr on a consolidated basis.

⚠️ Risk Analysis

Key Uncertainties

Execution risk of ongoing projects and potential miscalculation of market demand for new verticals like semiconductors could impact profitability by 5-10%.