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Atul
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Company History
Atul Limited, a diversified Indian company, a part of Lalbhai Group, is mainly engaged in the business of Life Science Chemicals and Performance and Other Chemicals meeting the needs of varied industries such as Adhesives, Agriculture, Animal Feed, Automobile, Composites, Construction, Cosmetic, Defence, Dyestuff, Electrical and Electronics, Foam and Furnishing, Flavour, Food, Footwear, Fragrance, Glass, Handicraft, Home Care, Horticulture, Hospitality, Paint and Coatings, Paper, Personal Care, Pharmaceutical, Plastic, Rubber, Soap and Detergent, Sport and Leisure, Textile, Tyre and Wind Energy.
The company has established subsidiary companies in the USA (1994), the UK (1996), China (2004), Brazil (2012) and the UAE (2015) to serve its customers and thus enhance breadth and depth of its business. Atul Ltd., a Lalbhai Group company, was formerly known as Atul Products. Promoted by Kasturbhai Lalbhai, the Company was incorporated on 05th September, 1947 and is presently engaged in the business of manufacturing dyes and dye intermediates, agro-chemicals, aromatic like para-Anisaldehyde, epoxy resins and pharma intermediates.
Gujarat Aromatics was merged with Atul in 1988-89, And Atul promoted two manufacturing companies, namely Atic Industries in 1956, and Cibatul in 1960. Atic Industries which was promoted in collaboration with ICI, UK manufactures Vat and other active dyes and Sulphuric acid. While the Cibatul which was promoted in collaboration with Ciba-Geigy, manufactures sulphur drug intermediates, resins and auxiliaries. In 1985, the company transferred its investments in Atic and Cibatul to a wholly-owned subsidiary, Ameer Trading Corporation and later in 1995-96 this Atic Industries was integrated with Atul.
In 1986, the company took over the management of Piramal Rasayan through its 100% subsidiary and subsequently changed the name of the company to Amal Rasayan. Atul has also promoted Gujarat Synthwood to manufacture PVC Foam Sheets. Atul's other two fully owned subsidiaries apart from Ameer Trading are Anusandan Investments and Sharik Investment Pvt Ltd. In 1995, the company commissioned para-cresidine and para anisicaldehyde manufacturing plants.
In 1995-96, the company was implementing a project to manufacture non-benzidine dyestuffs with a capacity of 1700 tpa and the company has commissioned the project for manufacture of para cresol in 1997-98.
In 1996-97, the company issued 50,000 14% cumulative redeemable preference shares of Rs 100/- each amounting to Rs 50 lacs. During the same year the agro chemicals and pharmaceuticals division obtained ISO 9002 certification for phenoxy and urea herbicides from TUV Bayern of Germany.
In 2000-01, the company has initiated the plan of installation of third fluidisied boiler in order to become self reliant in captive power generation.
In 2012-2013, the company set up a production facility for tissue culture raised date palms in Jodhpur, Rajasthan, the first of its kind in India. Also during the year, the company expanded para Cresol manufacturing facility. During the year, the company established a 22,000 sq ft research facility to build the business of APIs and API intermediates.
In 2013-2014, the company cut liquid effluent in 41 products by 79% on an average. The company's Ankleshwar site was converted into a zero liquid effluent discharge' facility. During the year, the company developed 67 new products and formulations in R&D. Also during the year, the company developed a mobile application to send requisitions and receive quotations.
In 2014-2015, the company implemented Atul mobSales' - open source integrated mobility solution for brand sales. The company implemented Atul i-Quote' - open source vendor portal to ensure better connect with vendors. It also implemented Saral' - open source human resource self-service multi-lingual kiosk system. During the year, Atul achieved zero liquid effluent discharge in one key product.
In 2015-2016, the company achieved zero liquid discharge in the manufacture of one more key product. During the year, the company replaced mercury based caustic/chlorine plant with an environment-friendly, membrane based plant. During the year, the company introduced 65 new products and 19 formulations. Also during the year, the company's Dapsone manufacturing plant received USFDA approval. The company inaugurated the new registered office at Ahmedabad in January 2015. Atul inaugurated its second office in Mumbai at Goregaon in September 2015.
The company inaugurated its office in Thane, near Mumbai in March 2017. On 15 May 2017, AkzoNobel and Atul formally agreed the joint venture partnership announced earlier for the production of monochloroacetic acid (MCA) in India. The companies will establish a new plant at Atul's facility in Gujarat by first quarter of 2019, with each partner holding a 50% stake in the joint venture, to be registered as 'ANAVEN'. MCA is an essential building block in the chemical industry and is used in a wide variety of chemicals. As well as building on AkzoNobel's leading position in the MCA market, the partnership will also enhance Atul's status as a key global supplier of the herbicide 2, 4-D, which uses MCA as a key raw material. In 2007-18, the company enhanced capacity by debottlenecking plants of key products. During the year, the company developed 34 new products/formulations and scaled up 28 thereof. During the year, the company improved the process of succession planning.
During 2017-18, Aaranyak Urmi Ltd was incorporated as a wholly-owned subsidiary company, Amal Ltd became a subsidiary company and Anaven LLP, a 50:50 partnership with AkzoNobel BV, was incorporated.
As on 31 March 2018, the Company had 12 non-material Indian unlisted subsidiary companies,i. 5 wholly-owned - Anchor Adhesives Pvt Ltd, Atul Bioscience Ltd, Atul Finserv Ltd, Atul Fin Resources Ltd and Atul Nivesh Ltd,ii. 1 joint venture - Atul Rajasthan Date Palms Ltd,iii. 6 others - Aaranyak Urmi Ltd, Aasthan Dates Ltd, Atul Biospace Ltd, Atul Infotech Pvt Ltd, Biyaban Agri Ltd and Raja Dates Ltd.
As on 31 March 2018,the company had 20 subsidiaries and 14 associate companies under its roof.
During the FY2018,the company Debottlenecked capacities in 24 products, executed 6 expansion projects and scaled up 28 new products.
During April 2019, Atul Ireland Ltd was incorporated as a wholly-owned subsidiary company in Ireland.
As on March 2019,the company had 21 subsidiaries and 14 associate companies under its roof.
As on March 31, 2019, the Company had 13 non-material Indian subsidiary companies, i. 6 wholly-owned -Aaranyak Urmi Ltd, Anchor Adhesives Pvt Ltd, Atul Bioscience Ltd, Atul Finserv Ltd, Atul Fin Resources Ltd and Atul Nivesh Ltd,ii. 1 joint venture - Atul Rajasthan Date Palms Ltd,iii. 6 others - Amal Ltd, Aasthan Dates Ltd, Atul Biospace Ltd, Atul Infotech Pvt Ltd, Biyaban Agri Ltd and Raja Dates Ltd.
During 2019-20, Amal Ltd ceased to be a subsidiary company of the Company under Section 2 (87) of the Act.
In FY'19, the Company acquired a manufacturing site for ABL at Ambernath, Maharashtra.
As on 31 March 2020,the company had 20 subsidiaries and 15 associate companies under its roof.
As on 31 March 2020, the Company had 12 non-material Indian subsidiary companies, i. 6 wholly-owned -Aaranyak Urmi Ltd, Anchor Adhesives Pvt Ltd, Atul Bioscience Ltd, Atul Finserv Ltd, Atul Fin Resources Ltd and Atul Nivesh Ltd,ii. 1 joint venture - Atul Rajasthan Date Palms Ltd,iii. 5 others -Aasthan Dates Ltd, Atul Biospace Ltd, Atul Infotech Pvt Ltd, Biyaban Agri Ltd and Raja Dates Ltd.
In FY'20, the Company formed a subsidiary company, Atul Products Ltd.
During the FY2020,the company Debottlenecked 11 products, improved yield of seven products and executed three expansion projects. The company also developed 35 new products and formulations.
The Manufacturing facilities of the Company in (Ankleshwar and Atul) Gujarat and (Tarapur) Maharashtra were closed on 24 March 2020 following countrywide lockdown due to COVID-19. The Company has since obtained required permissions and restarted its manufacturing facilities partially at Ankleshwar and Atul in the second fortnight of April 2020.
The Board of Directors in its meeting held on 29 January 2021 has approved a proposal to buy-back fully paid -up equity shares of face value of Rs 10/- each of the Company, at a price not exceeding Rs 7,250/ per equity share (maximum buy-back price) and for an amount not exceeding Rs 50 crore (maximum buy-back size) from the open market through stock exchange mechanism. The buy-bock of equity shares through stock exchange commenced on 10 February 2021 and it was completed on 19 February 2021. The Company bought bock and extinguished a total of 74,682 equity shores at on overage buy-bock price of Rs 6,678.58/- per equity shore, comprising 0.25% of the pre buy-bock paid-up equity shore capital of the Company.
During 2020-21, Atul Lifescience Ltd, Atul Natural Dyes Ltd, Atul Natural Foods Ltd, Atul Products Ltd and Atul Renewable Energy Ltd were incorporated as wholly-owned subsidiary companies of the Company and Amal Speciality Chemicals Ltd, was incorporated as its wholly-owned subsidiary by Amal Ltd, an associate company of the Company. During 2021-22, Atul Healthcare Ltd, Atul Paints Ltd and Sehat Foods Ltd were incorporated as wholly-owned subsidiary companies of the Company. Osia Infrastructure Ltd became a wholly-owned subsidiary of the Company.
During 2022-23, Atul Healthcare Ltd, a wholly-owned subsidiary of the Company formed a joint venture entity by acquiring 50% stake of Valsad Institute of Medical Sciences Ltd through the Shareholders' Agreement. Atul Aarogya Ltd, Atul Ayurveda Ltd, Atul Clean Energy Ltd, Atul Consumer Products Ltd, Atul Crop Care Ltd, Atul Entertainment Ltd, Atul Hospitality Ltd, Atul (Retail) Brands Ltd, Atul Seeds Ltd, Jayati Infrastructure Ltd and Osia Dairy Ltd became wholly-owned subsidiary companies of the Company.
Atul Share Price
Atul share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
Atul Market Cap
Market capitalization of Atul indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how Atul is valued compared to its competitors.
Atul PE Ratio
Atul PE ratio helps investors understand what is the market value of each stock compared to Atul 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
Atul PEG Ratio
The PEG ratio of Atul evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
Atul ROE (Return on Equity)
Return on Equity (ROE) measures how effectively Atul generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
Atul ROCE (Return on Capital Employed)
Return on Capital Employed (ROCE) evaluates the profitability of Atul in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
Atul Total Debt
Total debt of Atul shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
Atul Debt to Equity Ratio
The Debt-to-Equity (DE) ratio of Atul compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
Atul CAGR (Compound Annual Growth Rate)
CAGR shows the consistent growth rate of Atul over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
Atul Technical Analysis
Technical analysis of Atul helps investors get an insight into when they can enter or exit the stock. Key components of Atul Technical Analysis include:
Support Levels (S1, S2, S3)
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
Resistance Levels (R1, R2, R3)
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where Atul shares often struggle to rise above due to selling pressure.
Atul Dividends
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect Atul ’s financial health and profitability.
Atul Bonus Shares
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
Atul Stock Split
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
Atul Financials
The financials of Atul provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
Atul Profit and Loss Statements
The profit and loss statement of Atul highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of Atul .
Atul Balance Sheet
The balance sheet presents a snapshot of Atul ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
Atul Cashflow Statements
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
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SEBI REGISTERED RESEARCH ANALYST REGISTRATION NUMBER: INH000015729Disclaimer: "Investments in securities are subject to market risks. Read all the related documents carefully before investing." Receiving registration from SEBI and certification from NISM does not assure the performance of the intermediary or guarantee returns to investors in any manner. Compliance Email: [email protected]
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