Every listed Indian specialty chemicals company covered here — Aarti, Aether, Deepak Nitrite, Gujarat Fluorochemicals, Navin Fluorine, PI Industries, SRF — against Acutaas, on the same numbers from the same filings. Click a column to rank by it. Tick up to three and press Compare for the full side-by-side.
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | ₹75.2k Cr | 41.0× | 7.4% | 21.6% | 14.1% | 1.6× | 0.4× | -12.9% | |
| 2 | ₹49.3k Cr | 87.8× | 5.5% | 25.8% | 9.7% | 1.4× | 0.3× | 15.4% | |
| 3 | ₹43.3k Cr | 65.2× | 41.1% | 32.6% | 21.2% | 1.8× | 0.3× | 79.0% | |
| 4 | ₹36.6k Cr | 27.7× | -15.8% | 25.8% | 15.9% | 0.8× | 0.0× | -34.3% | |
| vs | 5Acutaas | ₹26.3k Cr | 73.9× | 33.0% | 35.9% | 32.3% | 1.0× | 0.0× | 120.1% |
| 6 | ₹22.0k Cr | 40.0× | -4.8% | 12.5% | 11.4% | 1.0× | 0.3× | -10.9% | |
| 7 | ₹21.8k Cr | 99.4× | 38.3% | 31.3% | 11.6% | 0.5× | 0.2× | 118.7% | |
| 8 | ₹18.0k Cr | 42.9× | 14.0% | 14.1% | 6.9% | 2.8× | 0.8× | 27.3% |
Market cap, P/E and the 12-month return move with the market and are dated to the last close. Every other column is the last full financial year. n/m — loss-making, so the multiple means nothing. A dash means not recorded, which is not the same as nil.
| Metric | ACUTAAS | SRF |
|---|---|---|
| What you pay22 Sept 2026 | ||
| Share price | ₹3,213.70 | ₹2,538.30 |
| Market cap | ₹26,320 Cr | ₹75,235 Cr |
| P/E | 73.88× | 41.00× |
| P/B | 15.92× | 5.36× |
| P/S | 19.65× | 4.77× |
| 12-month return | 120.1% | -12.9% |
| SizeFY26 | ||
| Revenue | ₹1,339 Cr | ₹15,787 Cr |
| PAT | ₹356 Cr | ₹1,835 Cr |
| Net worth | ₹1,654 Cr | ₹14,043 Cr |
| Gross block | ₹745 Cr | ₹13,926 Cr |
| GrowthFY26 | ||
| Revenue growth | 33.0% | 7.4% |
| Revenue CAGR (3y) | 29.5% | 2.0% |
| PAT CAGR (3y) | 62.3% | -5.3% |
| What it keepsFY26 | ||
| EBITDA margin | 35.9% | 21.6% |
| PAT margin | 26.6% | 11.6% |
| ROCE | 32.3% | 14.1% |
| ROE | 21.5% | 13.1% |
| CFO / PAT (3y) | 0.96× | 1.61× |
| What it owesFY26 | ||
| Net debt | ₹-189 Cr | ₹4,472 Cr |
| Debt / equity | 0.02× | 0.36× |
| CWIP | ₹332 Cr | ₹1,889 Cr |
| Debtor days | 99 days | 59 days |
| Who owns itFY26 | ||
| Promoter holding | 32.7% | 50.3% |
| Institutional holding | 41.2% | 37.9% |
Every figure comes from the same filings the company pages are built from. A dash means the figure is not recorded, which is not the same as nil.
Acutaas, called Ami Organics until last year, makes the difficult middle steps of other companies' drug molecules — the complex fragments an innovator needs on the way to a finished drug. That business was ₹292.7 crore in the June quarter, up 76.5%, and is now 89% of the company, with specialty chemicals the remaining ₹37 crore. Revenue was ₹1,339 crore for the year, up 33%, on an EBITDA margin of 35.9% against 23.0% the year before and a 32.3% return on capital.
SRF is four businesses, and one of them earns three-quarters of the profit. Chemicals — refrigerants, industrial chemicals, fluoropolymers and made-to-order intermediates — was ₹7,779 crore of ₹15,787 crore of revenue, 49.3% of the total and 75.2% of segment profit at a 29.1% EBIT margin. Performance films and foil was ₹5,764 crore at 8.8%. Sixteen plants across India, Thailand, South Africa and Hungary, half of turnover earned overseas, and 14.1% on capital employed for the group as a whole.
Its own plants, and a lot of them at once. There are no acquisitions; gross block rose 31% from ₹570 crore to ₹745 crore with a further ₹332 crore in construction — nearly half the completed asset base again. June-quarter spending was ₹56 crore, ₹41 crore of it at the ACL site and mostly the battery chemicals project at Jhagadia, which completed its trial run in the quarter and began commercial supply.
No acquisitions at all, and most of last year's spending has not started earning. It spent about ₹1,820 crore while gross block moved 1.5% — the money went into capital work in progress, which more than doubled to ₹1,889 crore. At a new site in Odisha: a 20,000-tonne plant for fourth-generation refrigerants, a 30,000-tonne anhydrous hydrogen fluoride plant, a specialty fluoropolymers facility, and HFC capacity beyond 65,000 tonnes.
Eight directors, half of them independent, and one man holding both the chair and the managing director's job. Nareshkumar Patel is executive chairman and managing director; Chetankumar Vaghasia, the co-founder, and Virendranath Mishra and Ram Mohan Lokhande are whole-time directors, with four independents beside them. The chairman and the co-founder are each paid 113 times the median employee, who took ₹4.85 lakh for the year.
Two brothers run it, with their father as chairman emeritus, and the stake that controls it sits in a separately listed company above them. Ashish Bharat Ram is chairman and managing director, Kartik Bharat Ram joint managing director, Arun Bharat Ram chairman emeritus. The board is ten with six independents. The group underneath is simple for its size — eight subsidiaries, every one wholly owned — while above it KAMA Holdings is the holding company and the ABR Family Trust the ultimate holding entity.
The battery chemicals plant completed its trial run during the quarter and started commercial supply.
Acutaas management · Q1 FY27 earnings call
On the semiconductor materials business: AI demand is pulling memory chip production up against tight supply, and management argues this is structural rather than a cycle.
Acutaas management · Q1 FY27
Planned capital spending for FY27 is ₹2,500 crore, with 75% to 80% of it in chemicals.
SRF management · Q1 FY27
A ₹490 crore BOPP expansion has been deferred indefinitely.
SRF management · Q1 FY27
Closing prices to 22 Sept 2026, adjusted for bonuses and splits. Dividends are not counted. This is what happened, not what will.
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