Vinati Organics Limited
Current Price
₹1,330.35
As of 20 May 2026
Market Cap
₹14.40K Cr
As of 20 May 2026
specialty chemicals niche leader, global #1 in ATBS + IBB
Report updated: 2026-05-19
Vinati Organics Limited
Specialty chemicals niche leader — global #1 in ATBS (~65% share) and IBB. Phase-2 ATBS expansion (50 to 60 KTPA) commissioning Apr-26; Veeral Organics subsidiary still scaling with the new MEHQ-Guaiacol process being re-engineered. FY26 closed flat at Revenue Rs.2,227 Cr (consolidated), PAT Rs.444 Cr (+9.5% YoY); PAT margin moved from 18.0% (FY25) to 19.9% (FY26) on lower raw-material prices. Promoter (Saraf family) holds 74.28% — only ~12% free float. CARE AA+/A1+ Stable, third year at AA+. Zero long-term debt. CMP Rs.1,329 / mkt cap Rs.13,868 Cr.
Rs.1,329
Share price (19 May 2026)
Rs.13,868 Cr
Market cap
Rs.2,227 Cr
FY26 revenue (flat YoY)
Rs.444 Cr
FY26 PAT (+9.5% YoY)
31.2 / 26-28%
P/E (TTM) / EBITDA margin band
74.28%
Promoter holding (8 holders)
Stock Funda Summary
- Vinati Organics Limited (NSE: VINATIORGA / BSE: 524200) is a specialty chemicals company led by Vinati Saraf Mutreja (MD & CEO, daughter of founder Vinod Saraf).
- Two global #1 positions: ATBS (~65% global market share — oilfield EOR + water treatment + acrylic fibre) and IBB (ibuprofen feedstock).
- FY26 consolidated: Rev Rs.2,227 Cr (flat YoY), PAT Rs.444 Cr (+9.5%).
- Single integrated plant at Lote (Maharashtra), 58% renewable power.
- ATBS Phase 1 (40→50 KTPA) commissioned Aug-2025
- Phase 2 (→60 KTPA) commissioning Apr-2026 with order book oversold.
- Antioxidants turnaround real — 25% util (Q3FY24) → 60% (Q2FY26), profitability achieved.
- Veeral Organics wholly-owned subsidiary carrying Rs.500 Cr capex envelope — MEHQ+Guaiacol being re-engineered, Anisole+4-MAP+PTAP+TAA commercial revenues from Oct-2026 onwards.
- CARE AA+/A1+ Stable held 3 years (upgraded from AA in Oct-2023 on FY23 30% revenue growth + VAPL merger).
- CFO succession Nov-2025: N.K.
- Goyal retired (superannuation), Gulshan Kumar Sakhuja in (ex-HEG CFO, 11-month internal grooming from Dec-2024).
- Promoter holding 74.28% (8 holders) — extremely thin public float.