Anupam Rasayan India Ltd
Anupam Rasayan India Ltd
ChemicalsKey Fundamentals
MicrocapSpecialty ChemicalsChemicalsInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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48 extracted metrics + investor summaries across FY14–FY26.
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Technical Indicators
Key Insights
Strengths
1- Company is expected to give good quarter
Weaknesses
4- Stock is trading at 4.09 times its book value
- Tax rate seems low
- Company has a low return on equity of 4.60% over last 3 years.
- Dividend payout has been low at 9.85% of profits over last 3 years
Growth Rate
AI Analysis — Bull vs Bear
Anupam Rasayan India Ltd is a specialty chemicals company with a market cap of Rs 13,810 crore, trading at a PE of 62.1x and a price-to-book of 4.18x. The company has demonstrated strong TTM sales growth of 65% and profit growth of 82%, but carries a low 3-year average ROE of approximately 4.6% and minimal dividend payout of 9.85% of profits.
- TTM revenue growth of 65% indicates a significant acceleration in top-line momentum compared to the 3-year sales CAGR of 14%
- TTM profit growth of 82% demonstrates strong operating leverage and improving profitability on an annualized basis
- 5-year compounded sales CAGR of 24% shows sustained long-term revenue expansion in the specialty chemicals space
- 5-year compounded profit CAGR of 19% reflects consistent earnings growth over a meaningful period
- Company is expected to deliver a good quarter, suggesting near-term earnings visibility remains intact
- Stock CAGR of 11% over 5 years indicates the market has rewarded the business over the medium term
- 5-year ROE averaging around 6% shows gradual improvement from a low base, with last year at 6%
- PE ratio of 62.1x is significantly elevated, demanding sustained high growth to justify current valuation
- 3-year average ROE of only 4.6% indicates poor capital efficiency relative to the premium valuation commanded
- 3-year compounded profit CAGR of -2% shows that until the recent TTM surge, earnings growth was actually negative
- Price-to-book of 4.18x is high for a company generating only 5-6% return on equity over 3-5 years
- Dividend payout of just 9.85% of profits over 3 years with a yield of only 0.06% offers negligible income to shareholders
- Low tax rate raises questions about sustainability of reported earnings if tax normalization occurs
- ROE has remained stagnant at 5-6% over a 3-to-5-year horizon with no meaningful improvement trend despite revenue growth
- Stock 1-year CAGR of only 8% suggests the market has already priced in much of the recent operational improvement
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Net profit falls 11% YoY Aug 14
Q1FY27 net profit attributable to owners declined 11% YoY to ₹386.39 million despite strong revenue growth, indicating margin pressure.
- Revenue surges 35% YoY in Q1 Aug 14
Consolidated revenue rose 35% YoY to ₹6,549.80 million in Q1FY27, showing strong topline momentum.
- Long-term supply deal with Basquevolt Aug 14
Signed Letter of Intent with Spain-based Basquevolt S.A. for long-term specialty chemical supply, though financial terms were not disclosed.
- New COO appointed Aug 14
Ravi Desai promoted to COO effective Aug 14, 2026. He has 20+ years of specialty chemicals experience and has been with the company since 2012.
- Pharma acquisition via Mates Visa Jul 17
Acquired 100% of Mates Visa Consultancy for ₹10,000 to act as a PAC for the Bliss GVS Pharma acquisition, signaling diversification intent.
- Q1FY27 earnings call hosted Aug 11
Anupam Rasayan held its Q1FY27 earnings call on August 14, 2026 to discuss unaudited standalone and consolidated results.
TL;DR: Anupam Rasayan delivered strong 35% YoY revenue growth in Q1FY27 and is expanding partnerships (Basquevolt LOI) and diversifying into pharma (Bliss GVS). However, net profit declining 11% despite robust topline suggests rising costs or operational inefficiencies that need monitoring. The trend is improving on growth but margin trajectory will be the key watchpoint in coming quarters.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 386 | 392 | 296 | 401 | 254 | 294 | 390 | 500 | 486 | 731 | 512 | 636 | 655 |
| Expenses | 285 | 285 | 216 | 308 | 201 | 214 | 266 | 356 | 362 | 596 | 385 | 498 | 493 |
| Operating Profit | 101 | 107 | 79 | 93 | 53 | 80 | 124 | 144 | 124 | 136 | 127 | 137 | 162 |
| OPM % | 26% | 27% | 27% | 23% | 21% | 27% | 32% | 29% | 26% | 19% | 25% | 22% | 25% |
| Other Income | 12 | 3 | 2 | 12 | 6 | 2 | -4 | 6 | 5 | 8 | 2 | 3 | 13 |
| Interest | 18 | 20 | 25 | 26 | 22 | 27 | 32 | 31 | 36 | 36 | 35 | 42 | 49 |
| Depreciation | 19 | 20 | 20 | 21 | 21 | 22 | 29 | 31 | 31 | 32 | 34 | 43 | 56 |
| PBT | 77 | 71 | 36 | 58 | 16 | 34 | 59 | 88 | 63 | 76 | 60 | 56 | 70 |
| Tax % | 32% | 31% | 28% | 30% | 25% | 10% | 9% | 29% | 23% | 24% | -1% | 0% | 27% |
| Net Profit | 52 | 49 | 26 | 40 | 12 | 31 | 54 | 63 | 48 | 57 | 61 | 56 | 51 |
| EPS in Rs | 3.59 | 3.78 | 1.68 | 2.82 | 0.36 | 1.52 | 2.56 | 4.05 | 3.1 | 3.9 | 4.31 | 3.75 | 3.39 |
Profit & Loss
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 502 | 529 | 811 | 1,074 | 1,602 | 1,475 | 1,437 | 2,365 | 2,535 |
| Expenses | 408 | 394 | 617 | 769 | 1,171 | 1,094 | 1,036 | 1,841 | 1,972 |
| Operating Profit | 93 | 135 | 194 | 305 | 431 | 381 | 401 | 525 | 563 |
| OPM % | 19% | 25% | 24% | 28% | 27% | 26% | 28% | 22% | 22% |
| Other Income | 19 | 11 | 26 | 8 | 10 | 30 | 11 | 18 | 26 |
| Interest | 24 | 45 | 69 | 31 | 63 | 89 | 112 | 149 | 162 |
| Depreciation | 23 | 29 | 52 | 60 | 71 | 80 | 102 | 140 | 165 |
| PBT | 66 | 72 | 100 | 222 | 308 | 242 | 198 | 254 | 261 |
| Tax % | 24% | 26% | 30% | 31% | 30% | 31% | 19% | 13% | — |
| Net Profit | 49 | 53 | 70 | 152 | 217 | 167 | 160 | 222 | 225 |
| EPS in Rs | 9.85 | 10.64 | 7.04 | 15.18 | 16.83 | 11.71 | 8.49 | 14.94 | 15.35 |
| Div. Payout % | 0% | 0% | 7% | 7% | 15% | 11% | 9% | 10% | — |
Balance Sheet
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 50 | 50 | 100 | 100 | 107 | 110 | 110 | 146 |
| Reserves | 432 | 515 | 1,473 | 1,627 | 2,265 | 2,651 | 2,740 | 3,188 |
| Borrowings | 694 | 847 | 423 | 836 | 822 | 1,069 | 1,373 | 1,867 |
| Other Liabilities | 146 | 252 | 301 | 327 | 584 | 772 | 1,045 | 2,811 |
| Total Liabilities | 1,323 | 1,664 | 2,298 | 2,891 | 3,778 | 4,602 | 5,269 | 8,013 |
| Fixed Assets | 681 | 977 | 1,115 | 1,202 | 1,417 | 1,501 | 2,185 | 3,713 |
| CWIP | 191 | 101 | 43 | 44 | 120 | 609 | 216 | 114 |
| Investments | 0 | 0 | 0 | 149 | 67 | 67 | 9 | 19 |
| Other Assets | 451 | 586 | 1,140 | 1,496 | 2,173 | 2,424 | 2,860 | 4,167 |
| Total Assets | 1,323 | 1,664 | 2,298 | 2,891 | 3,778 | 4,602 | 5,269 | 8,013 |
Cash Flow
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating | 39 | 95 | 1 | -171 | 292 | 59 | -30 | 334 |
| Investing | -250 | -178 | -193 | -412 | -523 | -392 | -330 | -820 |
| Financing | 206 | 102 | 416 | 384 | 371 | 395 | 223 | 621 |
| Net Cash Flow | -6 | 19 | 224 | -199 | 140 | 62 | -137 | 135 |
| Free Cash Flow | -209 | -85 | -144 | -318 | 232 | -644 | -440 | -220 |
| CFO/OP | 55 | 77 | 10 | -44 | 84 | 28 | 3 | 72 |
Ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 88 | 89 | 92 | 95 | 95 | 143 | 186 | 148 |
| Inventory Days | 277 | 515 | 530 | 852 | 483 | 627 | 876 | 490 |
| Days Payable | 105 | 226 | 215 | 225 | 167 | 247 | 348 | 261 |
| Cash Conversion Cycle | 260 | 379 | 408 | 722 | 410 | 524 | 715 | 377 |
| Working Capital Days | 56 | 21 | 168 | 218 | 153 | 138 | 160 | 111 |
| ROCE % | — | 9% | 10% | 11% | 13% | 9% | 7% | 7% |
Documents
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Company Information
Anupam Rasayan India Ltd is engaged in manufacturing of specialty chemicals, which are sold in local as well as exported to other countries.[1]