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 | ₹72.9k Cr | 30.9× | 7.4% | 21.6% | 14.6% | 1.6× | 0.4× | -15.1% | |
| 2 | ₹51.2k Cr | 82.9× | 5.5% | 25.8% | 9.7% | 1.4× | 0.3× | 27.9% | |
| 3 | ₹46.2k Cr | 58.2× | 41.1% | 32.6% | 21.2% | 1.8× | 0.3× | 48.2% | |
| vs | 4Acutaas | ₹31.0k Cr | 70.6× | 33.0% | 35.9% | 31.6% | 1.0× | 0.0× | 113.9% |
| 5 | ₹26.3k Cr | 24.4× | -15.8% | 25.8% | 15.9% | 0.8× | 0.0× | -53.7% | |
| 6 | ₹20.9k Cr | 19.6× | -4.8% | 12.5% | 11.4% | 1.0× | 0.3× | -11.5% | |
| 7 | ₹20.7k Cr | 86.3× | 38.3% | 31.3% | 11.6% | 0.5× | 0.2× | 108.0% | |
| 8 | ₹16.1k Cr | 30.8× | 14.0% | 14.1% | 6.9% | 2.8× | 0.8× | 13.7% |
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 pay6 Nov 2026 | ||
| Share price | ₹3,786.60 | ₹2,460.40 |
| Market cap | ₹31,012 Cr | ₹72,926 Cr |
| P/E | 70.65× | 30.89× |
| P/B | 18.75× | 5.19× |
| P/S | 23.15× | 4.62× |
| 12-month return | 113.9% | -15.1% |
| 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 | 31.6% | 14.6% |
| ROE | 21.5% | 13.1% |
| CFO / PAT (3y) | 0.96× | 1.61× |
| What it owesFY26 | ||
| Net debt | ₹-189 Cr | ₹4,472 Cr |
| Debt / equity | 0.01× | 0.35× |
| CWIP | ₹332 Cr | ₹1,889 Cr |
| Debtor days | 99 days | 59 days |
| Who owns itFY26 | ||
| Promoter holding | 32.7% | 50.3% |
| Institutional holding | 42.0% | 37.7% |
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, formerly Ami Organics, makes pharma intermediates, the building blocks drug makers turn into APIs, and says it holds 50–90% of the world market in its key molecules. Its fastest-growing work is CDMO, made to order for drug inventors. Pharma intermediates were ₹402 crore in Jul–Sep 2026, up 53%; specialty chemicals, including new battery and chip chemicals, were ₹35 crore, down 20%. Sales were ₹437 crore in the quarter, up 43%, on an EBITDA margin of 40.3%.
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.
Mostly its own plants, paid for with its own cash. It bought the Ankleshwar and Jhagadia units in 2021 and Baba Fine Chemicals in 2023, and spent ₹195 crore on plants in FY26, with about ₹300 crore planned for FY27. Between March and September 2026 most of the plants under construction were finished: the battery chemicals plant made its first commercial sales and a chip-chemicals plant opened in South Korea. The ₹330 crore Ankleshwar plant ran at 30% of capacity in Jul–Sep 2026.
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.
Its two founders: Nareshkumar Patel, executive chairman and managing director, owns 17.69%, and co-founder Chetankumar Vaghasia owns 14.97%. The promoter group has held 32.66% for six quarters, none of it pledged. Eight directors, four of them independent. The two founders were each paid 113 times the median employee in FY26.
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.
On the CDMO target of ₹1,000 crore by FY28 — “we now believe we will achieve this target one year ahead of schedule.”
Naresh Patel · Q2 FY27 earnings call
On whether cheaper raw materials lifted the margin — “No. We are not saying that raw material price has softened in the quarter. In fact, that is definitely not the case.”
Abhishek Patel · Q2 FY27 earnings call
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 6 Nov 2026, adjusted for bonuses and splits. Dividends are not counted. This is what happened, not what will.
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