# Acutaas Chemicals (ACUTAAS) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/acutaas

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹3,782.1
- Change: +0.30%
- As of: 2026-11-06
- 1D return: +0.30%
- 5D return: -5.53%
- 1M return: +23.73%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

ACUTAAS is trading at ₹3,770.80 as of November 5, 2026, maintaining a bullish technical structure across daily, weekly, and monthly timeframes. The stock sits near the upper end of its 252-day range (+88.9%), with price action consistently above key moving averages (SMA 20/50/200) and the Supertrend indicator on all observed horizons. Trend strength is established on the daily chart (ADX 25.53) and strong on weekly (ADX 52.12) and monthly (ADX 95.86) bases, supported by rising slopes in short-term moving averages.

Participation remains elevated following extreme volume anomalies in late October, including a +13.3% daily move with a volume ratio of 12.17 on October 27. However, recent price action shows signs of consolidation or minor reversal pressure, marked by a Doji on November 3 and a Bearish Engulfing pattern on November 2, suggesting a pause after significant gains. The stock is currently -5.8% from its available high, indicating some pullback from recent peaks.

Immediate resistance lies at the pivot level of ₹3,830.07 (1.57% above), while support is anchored at ₹3,706.23 (1.71% below). With annualized volatility at +43.7% and an ATR of 4.69%, the stock exhibits high sensitivity to intraday shifts. The current setup favors bulls as long as price holds above the immediate support zone; a break below ₹3,706.23 would test the next support at ₹3,635.17.

- Trend Direction: Bullish across daily, weekly, and monthly timeframes; price trades above all major moving averages and Supertrend indicators.
- Momentum & Participation: Strong trend conviction (Monthly ADX 95.86); recent extreme volume events in late October indicate high institutional or large-cap participation.
- Key Levels: Immediate resistance at ₹3,830.07 (+1.57%); immediate support at ₹3,706.23 (-1.71%).
- Risk & Volatility: High volatility environment (Annualized Vol +43.7%, ATR 4.69%); current drawdown is -5.8% from recent highs.

- Doji
- Bearish Engulfing Reversal
- Outside Bar
- Bullish Engulfing Reversal
- Inside Bar

### News Context

Acutaas Chemicals Limited (NSE: ACUTAAS) reported significant management restructuring and financial results during the seven-day window ending November 6, 2026. On November 2, the company appointed Dr. Ashish Kumar Pandey as Assistant Vice President—Operations (Cluster Head—Unit 2 & 3), designating him as Senior Management Personnel. Concurrently, Anurag Shukla and Uday Desai ceased being designated Senior Management Personnel due to a new reporting structure but remain employed as Heads of Unit 2 and Unit 3, respectively, reporting to Dr. Pandey. This internal reorganization was disclosed via NSE filings on November 2.

Additionally, the Board of Directors approved Standalone and Consolidated Unaudited Financial Results for the quarter ended September 30, 2026, on October 27, 2026. These results were published in the Financial Express on October 28, 2026, and accompanied by an earnings call transcript uploaded to the company website on November 2. Market data as of November 5, 2026, shows the stock trading at ₹3,770.80 with a market capitalization of approximately ₹30,925 crore. The stock has gained +115.4% year-to-date and +105.6% over the past year, though it is currently experiencing a -5.8% drawdown from recent highs.

- Management Restructuring: Dr. Ashish Kumar Pandey appointed as AVP-Operations (Cluster Head) effective November 2, 2026; Anurag Shukla and Uday Desai retain operational roles as Unit Heads under the new structure.
- Financial Reporting: Q2 FY2026 (ended Sept 30, 2026) results approved by the Board on October 27, 2026, and published in the Financial Express on October 28, 2026.
- Market Performance: Stock closed at ₹3,770.80 on November 5, 2026, reflecting a YTD return of +115.4% and a 1-year return of +105.6%, with current technical indicators showing a bullish monthly trend.
- Volatility Context: The stock exhibits high annualized volatility (+43.7%) and is currently in a -5.8% drawdown, with immediate support at ₹3,706.23 and resistance at ₹3,830.07.

- ACUTAAS CHEMICALS LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA
- ACUTAAS CHEMICALS LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL
- Acutaas Chemicals Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Acutaas Chemicals Limited has informed the Exchange about change in Management |SUBJECT: Change in Management
- Acutaas Chemicals Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication

### Official Filings

Acutaas Chemicals Limited reported strong financial performance for Q2 and H1 FY27, with the Board approving results on October 27, 2026. Consolidated Q2 revenue rose 42.7% year-on-year to ₹4,369 million, driven by operational expansion including the inauguration of its South Korea semiconductor materials plant ahead of schedule. Consequently, management revised full-year FY27 guidance upward: revenue growth is now targeted at around 30% (previously 25%), and EBITDA margin guidance was raised to 38–40%. Statutory auditors issued unmodified limited review reports. In a separate governance update effective November 2, 2026, Dr. Ashish Kumar Pandey was appointed Assistant Vice President—Operations as Senior Management Personnel, while two existing senior managers transitioned to unit-head roles reporting to him under a new structure.

- Q2 FY27 Revenue grew 42.7% YoY to ₹4,369 million; EBITDA surged 84.6% to ₹1,760 million with a PAT margin of 28.2%.
- FY27 Guidance Revised Upward: Revenue growth target increased from 25% to ~30%; EBITDA margin guidance raised to 38–40%.
- Operational Catalyst: South Korea manufacturing facility inaugurated ahead of schedule in August 2026.
- Governance Change: Dr. Ashish Kumar Pandey appointed Senior Management Personnel (AVP-Operations) effective Nov 2, 2026.

- [ACUTAAS CHEMICALS LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_19536_WebXMLFile_20261102_175248953.xml)
- [ACUTAAS CHEMICALS LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19536_WebXMLFile_20261102_175833348.xml)
- [Acutaas Chemicals Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AMIORG_02112026180307_TranscriptmergedSigned.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about change in Management |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/AMIORG_02112026180857_IntimationSWSigned.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/AMIORG_28102026124711_NewspaperAdvertisement281026signed.pdf)
- [Acutaas Chemicals Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/AMIORG_27102026124848_FRuploadsw.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/AMIORG_27102026130054_PresentationSignedFinal.pdf)
- [Acutaas Chemicals Limited has informed the Exchange regarding a press release dated October 27, 2026, titled "Q2 & H1 FY27 Results". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/AMIORG_27102026125648_PressrealeaseSigned.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AMIORG_27102026181006_RecordingSigned.pdf)
- [ACUTAAS CHEMICALS LIMITED has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19536_WebXMLFile_20261027_180810277.xml)

### Fundamentals

Acutaas Chemicals demonstrates a robust operational expansion in Q2 FY2026-27, with revenue from operations rising 32% sequentially to ₹437 crore and net profit jumping 64% to ₹123 crore. This follows strong year-on-year growth trends, including a 45% TTM sales increase and 96% TTM profit growth. Earnings quality remains high, evidenced by Cash from Operating Activity of ₹292 crore for the full year ended Mar 2026, significantly exceeding the prior year’s ₹118 crore.

The balance sheet reflects aggressive capacity building, with Fixed Assets growing to ₹1,115 crore (Mar 2026) and Property, Plant & Equipment reaching ₹1,005 crore as of Sep 2026. Despite this capital intensity, financial health is solid: borrowings decreased sharply to ₹15 crore in Sep 2026 from ₹36 crore in Mar 2026, while equity expanded to ₹1,920 crore. Return on Capital Employed (ROCE) improved markedly to 32% in Mar 2026, up from 20% the previous year. However, investors should monitor the Cash Conversion Cycle, which widened to 149 days in Mar 2026, driven primarily by an increase in Inventory Days to 149 days, suggesting potential working capital pressure amid rapid scaling.

- Q2 FY2026-27 Net Profit surged 64% sequentially to ₹123 crore, with EPS rising to ₹15.29 per share.
- Operating cash flow strengthened significantly, reaching ₹292 crore for FY2026, indicating high earnings conversion quality.
- Fixed assets grew to ₹1,115 crore by Sep 2026, signaling active capacity expansion, while borrowings fell to ₹15 crore.
- Inventory Days increased to 149 days in Mar 2026, widening the Cash Conversion Cycle to 149 days; this working capital trend requires monitoring.

### Bull Case

Acutaas Chemicals exhibits strong multi-timeframe technical momentum, providing a constructive backdrop for the stock despite recent short-term volatility. As of November 5, 2026, the share price closed at ₹3,770.80, with the Supertrend indicator signaling a bullish trend across daily, weekly, and monthly charts. This alignment suggests underlying buying pressure persists even as the stock consolidates near its highs. The stock has delivered substantial long-term gains, rising +105.6% over the past year and +115.4% year-to-date, reflecting significant investor confidence. While the daily ADX of 25.53 indicates moderate trend strength, the monthly ADX is notably high at 95.86, underscoring the robustness of the longer-term uptrend. Key resistance levels sit at ₹3,830.07 (pivot) and ₹3,901.13 (high), while immediate support is found at ₹3,706.23. Investors should monitor whether the price can sustainably hold above the ₹3,706 level to maintain the bullish structure.

- Multi-timeframe bullish signals: Supertrend is bullish on daily, weekly, and monthly charts as of November 5, 2026.
- Strong long-term performance: Stock up +105.6% over 1 year and +115.4% YTD through November 2026.
- Key technical levels: Immediate support at ₹3,706.23; first resistance at ₹3,830.07 (pivot).
- High monthly momentum: Monthly ADX stands at 95.86, indicating a strong underlying trend compared to daily ADX of 25.53.

- [ACUTAAS CHEMICALS LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_19536_WebXMLFile_20261102_175248953.xml)
- [ACUTAAS CHEMICALS LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19536_WebXMLFile_20261102_175833348.xml)
- [Acutaas Chemicals Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AMIORG_02112026180307_TranscriptmergedSigned.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about change in Management |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/AMIORG_02112026180857_IntimationSWSigned.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/AMIORG_28102026124711_NewspaperAdvertisement281026signed.pdf)
- [Acutaas Chemicals Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/AMIORG_27102026124848_FRuploadsw.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/AMIORG_27102026130054_PresentationSignedFinal.pdf)
- [Acutaas Chemicals Limited has informed the Exchange regarding a press release dated October 27, 2026, titled "Q2 & H1 FY27 Results". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/AMIORG_27102026125648_PressrealeaseSigned.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AMIORG_27102026181006_RecordingSigned.pdf)
- [ACUTAAS CHEMICALS LIMITED has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19536_WebXMLFile_20261027_180810277.xml)

### Bear Case

Acutaas Chemicals faces elevated volatility and near-term price resistance that warrant caution despite its strong long-term performance. The stock is currently trading at ₹3,770.80, down 0.2% on the day, with a market cap of approximately ₹309.25 billion. While the monthly trend remains bullish, the daily technical setup shows signs of consolidation; the Average Directional Index (ADX) for the daily timeframe is 25.53, indicating moderate trend strength, while the Supertrend direction is still bullish but under pressure from recent selling. The stock has pulled back 5.8% from its recent highs, contributing to a maximum drawdown of -17.5% over the observed period. This volatility is reflected in an annualized volatility of +43.7% and an ATR percentage of 4.69%, suggesting significant price swings. Immediate resistance sits at ₹3,830.07 (1.57% above current price), a pivot level that the stock failed to hold today after opening higher at ₹3,840.00. Investors should monitor whether the price can sustainably break above this pivot or if the current drawdown widens toward the next support level at ₹3,706.23.

- Current price of ₹3,770.80 reflects a 5.8% pullback from recent peaks, within a broader maximum drawdown of -17.5%.
- Daily ADX of 25.53 indicates moderate trend strength, while high annualized volatility (+43.7%) and ATR (4.69%) signal elevated risk.
- Immediate resistance at ₹3,830.07 (1.57% above) acts as a key test level following today's intraday rejection from ₹3,860.00.
- Support levels are defined at ₹3,706.23 (-1.71%), ₹3,635.17 (-3.60%), and ₹3,511.33 (-6.88%), providing downside buffers.

- [ACUTAAS CHEMICALS LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_19536_WebXMLFile_20261102_175248953.xml)
- [ACUTAAS CHEMICALS LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19536_WebXMLFile_20261102_175833348.xml)
- [Acutaas Chemicals Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AMIORG_02112026180307_TranscriptmergedSigned.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about change in Management |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/AMIORG_02112026180857_IntimationSWSigned.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/AMIORG_28102026124711_NewspaperAdvertisement281026signed.pdf)
- [Acutaas Chemicals Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/AMIORG_27102026124848_FRuploadsw.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/AMIORG_27102026130054_PresentationSignedFinal.pdf)
- [Acutaas Chemicals Limited has informed the Exchange regarding a press release dated October 27, 2026, titled "Q2 & H1 FY27 Results". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/AMIORG_27102026125648_PressrealeaseSigned.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AMIORG_27102026181006_RecordingSigned.pdf)
- [ACUTAAS CHEMICALS LIMITED has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19536_WebXMLFile_20261027_180810277.xml)

### FAQs

**What recent changes have been made to Acutaas Chemicals' senior management structure?**

Effective November 2, 2026, Dr. Ashish Kumar Pandey was appointed as Assistant Vice President—Operations (Cluster Head—Unit 2 & 3) and designated as Senior Management Personnel. Concurrently, Anurag Shukla and Uday Desai ceased being designated Senior Management Personnel due to a new reporting structure but remain employed as Heads of Unit 2 and Unit 3, respectively, reporting to Dr. Pandey.

**What financial results were recently approved by the Board of Directors?**

The Board of Directors approved the Standalone and Consolidated Unaudited Financial Results for the second quarter ended September 30, 2026, during a meeting held on October 27, 2026. These results were subsequently published in the Financial Express on October 28, 2026.

**How has the stock performed over the past year and since the start of the current period?**

As of November 5, 2026, the stock has delivered a one-year return of +105.6% and a year-to-date return of +115.4%. Since the start of the tracking period, the cumulative return stands at +235.3%, indicating significant appreciation over the longer term.

**What are the key technical support and resistance levels for the stock?**

Based on daily trends as of November 5, 2026, immediate resistance is observed at ₹3,830.07 (1.57% above), with further resistance at ₹3,901.13. Key support levels are located at ₹3,706.23 (1.71% below) and ₹3,635.17 (3.60% below). The monthly trend remains bullish with an ADX reading of 95.86.

- [ACUTAAS CHEMICALS LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_19536_WebXMLFile_20261102_175248953.xml)
- [ACUTAAS CHEMICALS LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19536_WebXMLFile_20261102_175833348.xml)
- [Acutaas Chemicals Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AMIORG_02112026180307_TranscriptmergedSigned.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about change in Management |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/AMIORG_02112026180857_IntimationSWSigned.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/AMIORG_28102026124711_NewspaperAdvertisement281026signed.pdf)
- [Acutaas Chemicals Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/AMIORG_27102026124848_FRuploadsw.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/AMIORG_27102026130054_PresentationSignedFinal.pdf)
- [Acutaas Chemicals Limited has informed the Exchange regarding a press release dated October 27, 2026, titled "Q2 & H1 FY27 Results". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/AMIORG_27102026125648_PressrealeaseSigned.pdf)
- [Acutaas Chemicals Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AMIORG_27102026181006_RecordingSigned.pdf)
- [ACUTAAS CHEMICALS LIMITED has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19536_WebXMLFile_20261027_180810277.xml)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Strong Uptrend
- Weekly trend: Moderate Uptrend
- Pivot point: ₹3,791.1
- Risk regime: Higher Price Risk

### Support levels
- 3342.95
- 3138
- 3092.8

### Resistance levels
- 4045.3
- 3839.7
- 3908.6

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.30% |
| return_10 | +20.54% |
| return_1m | +19.81% |
| return_1y | +113.69% |
| return_20 | +23.73% |
| return_3m | +15.99% |
| return_5 | -5.53% |
| return_6m | +40.82% |
| return_since_start | 2.363361493997332 |
| return_ytd | +116.02% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -17.53% |
| annualized_volatility | +43.64% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Acutaas Chemicals Limited FY2026-27 Q2: Revenue rises 43% YoY

Acutaas Chemicals reported consolidated revenue from operations of ₹436.9 crore for the quarter ended 30 September 2026, up 32.5% quarter on quarter (QoQ) and 42.7% year on year (YoY). Profit before tax rose 61.1% QoQ to ₹167.4 crore, while profit for the period increased 64.2% to ₹123.1 crore. The quarter also saw a sharp increase in reported property, plant and equipment and a lower capital-work-in-progress balance compared with 31 March 2026.

## Revenue and earnings

Revenue from operations increased from ₹329.7 crore in Q1 FY2026-27 to ₹436.9 crore in Q2. It was ₹306.2 crore in Q2 FY2025-26. The recent quarterly sequence was ₹393.2 crore in Q3 FY2025-26, ₹432.8 crore in Q4 FY2025-26, ₹329.7 crore in Q1 FY2026-27 and ₹436.9 crore in Q2 FY2026-27.

Total expenses rose 20.7% QoQ to ₹274.7 crore, below the 32.5% QoQ increase in revenue. Profit before tax increased by ₹63.5 crore, from ₹103.9 crore in Q1 FY2026-27 to ₹167.4 crore in Q2. Other expenses were up 39.6% QoQ to ₹53.5 crore. Q2 expenses included materials consumed of ₹156.5 crore, employee benefit expense of ₹42.1 crore and depreciation and amortisation of ₹12.7 crore. Finance costs declined 11.0% QoQ to ₹1.0 crore.

## Tax, profit and per-share results

Tax expense increased 52.9% QoQ to ₹44.2 crore, comprising current tax of ₹39.1 crore and deferred tax of ₹5.1 crore. Profit for the period was ₹123.1 crore, compared with ₹75.0 crore in Q1 FY2026-27 and ₹71.9 crore in Q2 FY2025-26—an increase of 64.2% QoQ and 71.4% YoY. Of Q2 profit, ₹125.2 crore was attributable to owners of the parent, while a loss of ₹2.0 crore was attributable to non-controlling interests.

Basic earnings per share was ₹15.29, versus ₹9.07 in Q1 FY2026-27 and ₹8.82 in Q2 FY2025-26. Diluted earnings per share was ₹15.24, compared with ₹9.04 and ₹8.82 in those respective quarters.

## Balance sheet and investment

Total assets were ₹2,220.9 crore at 30 September 2026, up from ₹1,984.0 crore at 31 March 2026 and ₹1,695.6 crore at 30 September 2025. Equity attributable to owners of the parent stood at ₹1,857.4 crore and total liabilities at ₹300.5 crore.

Property, plant and equipment was ₹1,004.5 crore at 30 September 2026, compared with ₹633.3 crore at 31 March 2026. Capital work in progress fell from ₹332.3 crore to ₹67.0 crore over the same dates, marking a substantial change in the composition of the reported asset base.

Current borrowings were ₹5.9 crore at quarter-end, compared with ₹26.5 crore at 31 March 2026 and ₹20.1 lakh at 30 September 2025. Inventories stood at ₹280.3 crore, up from ₹231.3 crore at 31 March 2026. Trade receivables were ₹358.3 crore, slightly below ₹362.6 crore at 31 March 2026. Cash and cash equivalents were ₹288.8 crore at 30 September 2026.

## Key Takeaway

Q2 FY2026-27 combined strong revenue growth with a faster increase in profit than in expenses on a sequential basis. The balance sheet expanded, with property, plant and equipment higher and capital work in progress lower than at 31 March 2026; inventory also increased, while receivables edged down.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q2
- As of: 2026-09-30
- Promoter holding: +32.66%
- FII holding: +22.61%
- DII holding: +19.40%
- Mutual fund holding: +14.44%
- Retail holding: +13.57%
- Promoter pledged: +0.00%

### Major reported shareholders

- Nareshkumar Ramjibhai Patel — +17.69%
- Vaghasia Chetankumar Chhaganlal — +14.97%
- DHWANI GIRISHKUMAR CHOVATIA — +3.35%
- GOVERNMENT PENSION FUND GLOBAL — +3.11%
- KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK NIFTY ALPHA 50 INDEX FUND — +2.86%
- AXIS MAX LIFE INSURANCE LIMITED A/C NIFTY MOMENTUM QUALITY 50 FUND — +2.04%
- SBI NIFTY SMALLCAP 250 INDEX FUND — +1.83%
- MOTILAL OSWAL NIFTY SMALLCAP 250 INDEX FUND — +1.81%
- VANAJA SUNDAR IYER — +1.33%

## Official filings

- 2026-11-07 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19536_WebXMLFile_20261107_104506666.xml)
- 2026-11-07 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_07112026105315_Schedule_of_Investor_MeetSWSigned.pdf)
- 2026-11-07 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_07112026105038_ASRMergedSigned.pdf)
- 2026-11-02 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_19536_WebXMLFile_20261102_175248953.xml)
- 2026-11-02 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19536_WebXMLFile_20261102_175833348.xml)
- 2026-11-02 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_02112026180307_TranscriptmergedSigned.pdf)
- 2026-11-02 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_02112026180857_IntimationSWSigned.pdf)
- 2026-10-28 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_28102026124711_NewspaperAdvertisement281026signed.pdf)
- 2026-10-27 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_27102026124848_FRuploadsw.pdf)
- 2026-10-27 — Earnings Presentation: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_27102026130054_PresentationSignedFinal.pdf)
- 2026-10-27 — Press Release: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_27102026125648_PressrealeaseSigned.pdf)
- 2026-10-27 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_27102026181006_RecordingSigned.pdf)
- 2026-10-27 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19536_WebXMLFile_20261027_180810277.xml)
- 2026-10-27 — Financial Results Filing: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1747098_27102026064128_WEB.xml)
- 2026-10-27 — Financial Results Filing: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1747102_27102026064220_WEB.xml)
- 2026-10-22 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19536_WebXMLFile_20261022_131103132.xml)
- 2026-10-22 — Board Meeting Notice: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19536_WebXMLFile_20261022_131103132.xml)
- 2026-10-22 — Board Meeting Notice: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_22102026131719_BoardMeetingIntimationSWSigned.pdf)
- 2026-10-22 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_22102026133017_EarningsCallswSigned.pdf)
- 2026-10-22 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19536_WebXMLFile_20261022_133355998.xml)
- 2026-10-17 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_19536_WebXMLFile_20261017_151156604.xml)
- 2026-10-17 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_17102026151522_EnchemAcquisitionIntimationSWSigned.pdf)
- 2026-10-13 — Shareholding Disclosure: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1737056_13102026050306_WEB.xml)
- 2026-10-06 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_06102026170605_Reg74300926swsigned.pdf)
- 2026-09-24 — Generic Announcement: Acutaas Chemicals Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AMIORG_24092026172143_AGMProceedingsswSigned.pdf)

## News and market events

- 2026-11-07 — Economic Times: **Diwali 2026 wealth creators: 8 BSE 500 stocks shrug off market weakness, deliver up to 191% returns; do you own any?** — Eight BSE 500 stocks, including Aditya Infotech and HFCL, delivered returns exceeding 100% since Diwali 2025, outperforming the broader market which saw the Nifty 50 decline nearly 3%. As Indian equities enter Samvat 2083, brokerages such as ICICI Direct and Motilal Oswal remain constructive, projecting earnings-led growth with double-digit EPS expansion expected in FY27. These firms favor selective investments in sectors like banking, manufacturing, and consumption, citing improved valuations and fundamental delivery as key drivers for future returns. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/diwali-2026-wealth-creators-8-bse-500-stocks-shrug-off-market-weakness-deliver-up-to-191-returns-do-you-own-any/articleshow/135628626.cms)
- 2026-10-28 — MONEYCONTROL: **Buy Acutaas Chemicals; target of Rs 4693: Prabhudas Lilladher** — Buy Acutaas Chemicals; target of Rs 4693: Prabhudas Lilladher Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio Platforms Share Price Jio IPO Listing Price Cyclone Arnab Live Gold Price Akash Ambani Karnataka MLC Polls Israel exit polls HUL Q2 Results Prashant Kishor News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Personal Finance more Home Loans — [Source](https://www.moneycontrol.com/news/business/stocks/buy-acutaas-chemicals-target-of-rs-4693-prabhudas-lilladher-14062480.html)
- 2026-10-27 — Mint: **Up 580% in 5 years! Multibagger stock Acutaas Chemicals shares jump 13% today - here's why | Q2 results highlights** — Acutaas Chemicals shares rose as much as 12% after September-quarter revenue increased 43% year on year and EBITDA climbed 86%. The company raised FY27 revenue growth guidance to about 30% and EBITDA margin guidance to 38–40%, citing strong visibility and orders. — [Source](https://www.livemint.com/market/stock-market-news/up-580-in-5-years-multibagger-stock-acutaas-chemicals-shares-jump-13-today-heres-why-q2-results-highlights-11793096150787.html)
- 2026-10-27 — CNBC-TV18: **Acutaas Chemicals Q2 Results: Multibagger stock jumps 12% after increasing FY27 revenue, margin guidance** — Acutaas Chemicals attributed the growth during the quarter to continued momentum in our Pharmaceutical Intermediates business, which was offset by softer performance in the Specialty Chemicals segment. — [Source](https://www.cnbctv18.com/market/acutaas-chemicals-q2-results-fy27-revenue-margin-guidance-increased-order-visibility-share-price-multibagger-20020221.htm)
- 2026-09-22 — BUSINESS: **Jain Irrigation Systems Ltd leads losers in 'A' group** — 63 Moons Technologies Ltd, Aegis Vopak Terminals Ltd, Kaynes Technology India Ltd and Acutaas Chemicals Ltd are among the other losers in the BSE's 'A' group today, 22 September 2026. — [Source](https://www.business-standard.com/markets/capital-market-news/jain-irrigation-systems-ltd-leads-losers-in-a-group-126092200747_1.html)
- 2026-09-18 — The Hindu: **Sensex today | Stock Market Live: Stock to buy today: Acutaas Chemicals (₹3,315.60)** — Sensex, Nifty, Share Prices LIVE: Stock to buy today: Acutaas Chemicals’ stock reached a record high of ₹3,735 in early July. However, it lost momentum after that. Although it did not reverse the trend, the scrip started to consolidate. The chart shows formation of a strong base at ₹3,050. The ₹3,000-3,050 price band is support, and as long as this level holds, the uptrend will remain intact. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-18th-september-2026/article71477821.ece)
- 2026-09-18 — The Hindu: **Stock to buy today: Acutaas Chemicals (₹3,315.60)** — Buy Acutaas Chemicals at ₹3,315; expect upward momentum towards ₹4,000 with strategic stop-loss adjustments. — [Source](https://www.thehindubusinessline.com/portfolio/technical-analysis/stock-to-buy-today-acutaas-chemicals331560/article71476506.ece)
- 2026-09-16 — BUSINESSTODAY: **IRCON International, MSTC, Sansera Engineering, Sunteck Realty among stocks to turn ex-dividend on September 17** — Excel Industries, Gujarat Fluorochemicals, IRCON International, Landmark Cars, MSTC, Sansera Engineering, Tamil Nadu Newsprint & Papers, Agarwal Industrial Corporation, Acutaas Chemicals, ex-dividend stocks, dividend stocks, September 17 ex-dividend, final dividend, dividend record date, highest dividend stocks — [Source](https://www.businesstoday.in/markets/stocks/story/ircon-international-mstc-sansera-engineering-sunteck-realty-among-stocks-to-turn-ex-dividend-on-september-17-555895-2026-09-16)
- 2026-09-11 — The Hindu: **Broker’s call: Acutaas Chem (Buy)** — JM Financial — [Source](https://www.thehindubusinessline.com/markets/brokers-call-acutaas-chem-buy/article71456506.ece)
- 2026-09-11 — Mint: **Stock recommendations for 11 September from MarketSmith India** — MarketSmith India reveals its top stock recommendations for today, 11 September. Get expert insights into the best-performing stocks to guide your investment decisions. — [Source](https://www.livemint.com/market/stock-market-news/stock-recommendations-for-11-september-from-marketsmith-india-11789042912558.html)
- 2026-09-10 — Mint: **Already up 137% in 1 year still JM Financial sees more upside in this stock | Check target price, shareholding pattern** — With a staggering 137% rise in the past year, Acutaas Chemicals continues to draw attention from investors. JM Financial recently reinstated a buy rating with a target price of  ₹3,800, indicating more potential growth. — [Source](https://www.livemint.com/market/stock-market-news/already-up-137-in-1-year-still-jm-financial-sees-more-upside-in-this-stock-check-target-price-shareholding-pattern-11789038627007.html)
- 2026-07-31 — Mint: **Top Gainers & Losers on 31 July: Bajaj Finance, Hyundai Motor, GAIL, Tata Motors, Redington among top gainers today** — Indian equities closed the last trading day of July with modest gains, driven by financial and auto stocks. The Nifty 50 rose 0.20% to 24,336, while Sensex advanced 0.21% to 78,091, reflecting positive market trends despite concerns over crude oil prices. — [Source](https://www.livemint.com/market/stock-market-news/top-gainers-losers-on-31-july-bajaj-finance-hyundai-motor-gail-tata-motors-redington-among-top-gainers-today-11785490241096.html)
- 2026-07-24 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Nifty recovers 200 pts from lows; Brent slips below $99/bbl** — Sensex Today | Stock Market LIVE Updates: As we move into the last half of the week's trade, the market is looking mark a recovery from lows. The markets are under pressure again, as the bulls stare down the barrel of a weekly decline. The Nifty is down over 160 points, falling towards 23,600. The Nifty Bank is down over 4000 points, falling to 56,000. Shriram Fin, IndiGo and Eternal are the top laggards. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-brent-crude-tariffs-infosys-indigo-bob-textile-midcaps-share-price-liveblog-19952825.htm)
- 2026-07-24 — The Hindu: **Sensex today | Stock Market Live: Sensex off day's low, down 300 pts, Nifty above 23,750; Cipla, HCL Tech lead gainers** — Sensex, Nifty, Share Prices Live Updates: Rising crude oil prices, unwinding of yen trade, fresh US tariffs, weakening rupee hurts market sentiment — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-24th-july-2026/article71257579.ece)
- 2026-07-24 — Mint: **Trump's tariff policy: Abbott India, Ajanta Pharma to Alembic — pharma stocks crash up to 4%** — Pharma stocks dipped on July 24 after President Trump announced a phased tariff plan for imported generic medicines, raising concerns for Indian exporters. Abbott India led losses at 3.69%, prompting fears over the future of American production and long-term impacts on stocks. — [Source](https://www.livemint.com/market/stock-market-news/trumps-tariff-policy-abbott-india-ajanta-pharma-to-alembic-pharma-stocks-crash-up-to-4-11784869745089.html)

## Business profile

**Strategic vision:** Specialty chemical manufacturer for pharma, semiconductor, and battery sectors.

### Business segments
- **Advanced Pharmaceutical Intermediates:** Provides intermediates for medicines, produced in USFDA and PMDA-approved facilities, focusing on long-term, backward-integrated solutions.
- **Semiconductor Chemicals:** Manufactures ultra-pure chemicals, including semiconductor-grade photoresist chemicals, serving domestic and international markets.
- **Battery Chemicals:** Offers advanced materials for energy storage, including electrolyte additives, with scaling production capacity.
- **Commodity Chemicals:** Provides foundation-scale solutions for industrial applications including personal care, agriculture, coatings, and fine chemicals.
- **CDMO and CMO Services:** Offers structured service models for scaling complex chemistries, including development support, commercial-scale production, custom synthesis, and process development.

### Competitive strengths
- Domestic manufacturer of semiconductor-grade photoresist chemicals in India.
- First company in India (outside China) to commercially develop electrolyte additives.
- USFDA and PMDA-approved facilities for pharmaceutical intermediates.
- Long-term, backward-integrated solutions for supply chain resilience in pharmaceuticals.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/acutaas
Markdown representation: https://faxioms.com/stocks/acutaas?render=md