Sector Alpha Week of 2026-07-24
Sector Alpha — machine-written from the numbers · Data as of 2026-07-24

Anupam Rasayan India Ltd

ANURAS
Speciality Chemicals

Anupam Rasayan India Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.

The sharpest disagreement: annual EPS moved +76.0% against a +10.2% price move — the market has not yet caught up with the delivery.

The price is in a confirmed uptrend (64 weeks in) while the P/E sits at the 61st percentile of its own 5-year range. Underneath, the last four quarters read deteriorating — profit −11.1% year on year, and 66% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Improving
partial read
Price
₹1,268
+10.2% 1Y
P/E
83.6×
61st pctile
of its own 5-year range
Revenue (Mar 26)
₹636 Cr
+27.2% YoY
Profit (Mar 26)
₹56.0 Cr
−11.1% YoY
Operating margin
22.0%
−7.0 pp YoY
ROCE
7%
FY26
Cash conversion
66%
of profit, last 3 FY
Withheld from this page: Part of this page is deliberately not drawn: its two data sources disagree by up to 63% on reported income across 15 comparable periods, so nothing from the second source is placed here — the PEG ratio and its quarterly curve, the quarterly return curves, the annual return-on-invested-capital overlay, the total-debt and debt-to-equity series and the F-score and the return-on-invested-capital reading are absent for that reason. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data. The quarterly history also begins where the primary source begins: 5 earlier quarters the second source carries are not spliced in front of it. Extending a reported profit series is stricter than showing a ratio chart — it needs a source that has been checked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Anupam Rasayan India Ltd trades at ₹1,268, in a confirmed uptrend and 64 weeks into that stage. That is +2.5% against its own 200-day average. It sits at 65% of a 52-week range of ₹1,065 to ₹1,376. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (11 weeks and counting).

Today the stock is in a confirmed uptrend — week 64 of stage 2, confirmed. At ₹1,268 it trades +2.5% versus its 200-day average and sits at 65% of its 52-week range (₹1,065–₹1,376).

Jul 26: ₹1,268 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+2.5% versus the 200-day line, week 64 of stage 2
Price50-day avg200-day avg
S2S2S4S2₹1,435₹1,220₹1,004₹789₹573₹1,268₹1,236Jul 23Apr 24Feb 25Nov 25Jul 26
S2S2S4S2₹1,435₹1,220₹1,004₹789₹573₹1,268₹1,236Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2021 Each cell is one week from 2021 to now (284 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 21Jul 26

Against the market, two honest reads. Cumulative: over the last 5.3 years the stock moved +156% while the NIFTY 500 moved +90% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (11 weeks and counting; last ahead the week of 2026-06-05) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 61st percentile of its own range.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Anupam Rasayan India Ltd trades at 83.6× P/E, mid-range by its own standards (61st percentile). Its long-run median P/E is 70.5×, measured across 5.3 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 83.6× is mid-range by its own standards (61st percentile), against a long-run median of 70.5× measured over 5.3 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 83.6× vs a 70.5× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 5.3-year window; loss-period spikes above 134× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (61st percentile)
P/EMedianEPS (TTM) (quarterly)
141.5×₹18.8113.1×₹14.184.7×₹9.456.3×₹4.727.9×₹0.0×83.60×₹15Mar 21Aug 22Dec 23May 25Jul 26
141.5×₹18.8113.1×₹14.184.7×₹9.456.3×₹4.727.9×₹0.0×83.60×₹15Mar 21Dec 23Jul 26
P/E
83.6×
61st percentile of 5y

Why the multiple sits where it does: over the past year annual EPS moved +76.0% against a +10.2% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +9.3%/yr price move, ~+7.1%/yr came from earnings growth and ~+2.2 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

The PEG ratio and its quarterly curve, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 63% on reported income across 15 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

03 · Stage: Improving

Stage: Improving Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Anupam Rasayan India Ltd reads as improving on its fundamental arc. Improving — EPS growth bottomed 5 quarters ago at −49.3% and has held its recovery at +77.4%, ROCE slipping at 7.0%. The read is built from 8 quarters across 4 curves, on partial evidence.

Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
77%127%50%77%22%26%−4.8%−25%−32%−76%%%64.5%38.7%77.4%Jun 23Sep 24Mar 26
77%127%50%77%22%26%−4.8%−25%−32%−76%%%64.5%38.7%77.4%Jun 23Sep 24Mar 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
13%12%10%8.3%6.5%%7%FY23FY24FY26
13%12%10%8.3%6.5%%7%FY23FY24FY26
Revenue growth
Rising
latest +64.5% · span −24.5% to +69.2%
Profit growth
Rolling over
latest +38.7% · span −52.2% to +103.7%
EPS growth
Rising
latest +77.4% · span −61.7% to +113.3%
ROCE
Falling
latest 7.0% · span 7.0%–13.0%

Why it matters: a sustained climb off the trough is the setup this page is built to catch — the question moves to what you pay for it.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Growth, year by year: revenue +64.6% in FY26, profit +38.7% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
81%131%57%80%33%28%9.4%−23%−14%−75%%%64.6%38.7%FY16FY21FY26
81%131%57%80%33%28%9.4%−23%−14%−75%%%64.6%38.7%FY16FY21FY26
TTM growth by quarter Trailing-twelve-month growth versus the year-ago TTM, per quarter, %: revenue (left axis); profit and EPS (right axis). The acceleration read compares the last 4 quarters (+64.5%) with the last 8 annualized (+26.6%).
revenue accelerating, profit accelerating
Revenue TTM YoYProfit TTM YoYEPS TTM YoY
77%127%50%77%22%26%−4.8%−25%−32%−76%%%64.5%38.7%Jun 23Sep 24Mar 26
77%127%50%77%22%26%−4.8%−25%−32%−76%%%64.5%38.7%Jun 23Sep 24Mar 26
Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+64.6%+13.9%+23.9%+24.1%
Profit+38.7%+0.8%+26.0%+20.0%
EPS+76.0%−3.9%+16.2%+7.5%
Share price+10.2%+7.6%+9.3%
Revenue YoY (Mar 26)
+27.2%
latest quarter vs a year ago
Profit YoY (Mar 26)
−11.1%
latest quarter vs a year ago
Revenue 10y
24.1%
long-run compound pace

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

04 · 4-Factor Sector Score

4-Factor Sector Score

45.0/100 — rank 20 of 27 in Speciality Chemicals · 79% evidence confidence

Anupam Rasayan India Ltd scores 45.0 out of 100 against the 27 companies it is compared with in Speciality Chemicals, ranking 20. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 20.9 + 10.2 + 8.4 + 5.5 = 45. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Anupam Rasayan India Ltd reported ₹636 Cr of revenue in the Mar 26 quarter, +27.2% year on year. That is the 6th straight quarter of year-on-year growth. Over 10 years it has compounded at 24.1% a year. The last full year, FY26, came in at ₹2,365 Cr. The last four reported quarters add to ₹2,365 Cr.

Anupam Rasayan India Ltd reported ₹636 Cr of revenue in the Mar 26 quarter, +27.2% year on year. That is the 6th straight quarter of year-on-year growth. Over 10 years it has compounded at 24.1% a year. The last full year, FY26, came in at ₹2,365 Cr. The last four reported quarters add to ₹2,365 Cr.

FY26 revenue came in at ₹2,365 Cr (+64.6% on the year), capping 10 years at 24.1% compound. The latest quarter (Mar 26) printed ₹636 Cr, +27.2% year on year — the 6th consecutive quarter of year-over-year growth.

FY26 revenue ₹2,365 Cr (+64.6% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
24.1% a year over 10 years
RevenueYoY growth
2.6k81%1.9k57%1.3k33%6399.4%0−14%₹ Cr%₹2,36564.6%FY16FY21FY26
2.6k81%1.9k57%1.3k33%6399.4%0−14%₹ Cr%₹2,36564.6%FY16FY21FY26
Mar 26: ₹636 Cr (+27.2% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
6th straight quarter of growth
Revenue (quarterly)YoY growth
789163%592110%39557%1974.2%0−49%₹ Cr%₹63627.2%Jun 23Sep 24Mar 26
789163%592110%39557%1974.2%0−49%₹ Cr%₹63627.2%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +74.6% growth against the decade's 24.1% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +64.5% over the last 4 quarters against +26.6%/yr over the last 8 — accelerating; TTM profit +38.7% vs +15.3%/yr — accelerating.

→ Revenue grew — did margins hold as it scaled? Next: 22.0% this quarter (−7.0 pp YoY).

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Anupam Rasayan India Ltd's operating margin is 22.0% in the Mar 26 quarter, −7.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 19.0% to 28.0%. The current quarter sits inside that band.

Anupam Rasayan India Ltd's operating margin is 22.0% in the Mar 26 quarter, −7.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 19.0% to 28.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 22.0%, −7.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 19.0%–28.0%.

🚨 Why the margin moved: operating margin went −7.3 pp year on year while gross margin went −4.6 pp — the loss came mostly from the gross line: input costs and pricing.

FY26: 22.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 12-year window.
within a 19.0–28.0% band over 12 years
operating marginYoY change (pp)
29%7.0%26%3.5%24%0.0%21%−3.5%18%−7.0%%%22%−6%FY15FY20FY26
29%7.0%26%3.5%24%0.0%21%−3.5%18%−7.0%%%22%−6%FY15FY20FY26
Mar 26: 22.0% operating margin (−7.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
33%7.1%29%3.1%26%−1.0%22%−5.1%18%−9.1%%%22%−7%Jun 23Sep 24Mar 26
33%7.1%29%3.1%26%−1.0%22%−5.1%18%−9.1%%%22%−7%Jun 23Sep 24Mar 26

→ Margins slipped — did that reach the bottom line? Next: profit −11.1% in the latest quarter.

07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Anupam Rasayan India Ltd earned ₹56.0 Cr of net profit in the Mar 26 quarter, −11.1% year on year. Full-year FY26 profit was ₹222 Cr. The 10-year compound rate is 20.0%. That is 8.8% of the quarter's revenue. The same quarter a year earlier earned ₹63.0 Cr.

Anupam Rasayan India Ltd earned ₹56.0 Cr of net profit in the Mar 26 quarter, −11.1% year on year. Full-year FY26 profit was ₹222 Cr. The 10-year compound rate is 20.0%. That is 8.8% of the quarter's revenue. The same quarter a year earlier earned ₹63.0 Cr.

Mar 26 profit was ₹56.0 Cr, −11.1% year on year. On the full year, FY26 printed ₹222 Cr (+38.7%), and the 10-year compound rate is 20.0%.

FY26 profit ₹222 Cr (+38.7% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
20.0% a year over 10 years
Net profitYoY growth
240128%18088%12047%606.4%0−34%₹ Cr%₹22238.7%FY16FY21FY26
240128%18088%12047%606.4%0−34%₹ Cr%₹22238.7%FY16FY21FY26
Mar 26: ₹56.0 Cr (−11.1% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
68330%51221%34112%170.0%0−107%₹ Cr%₹56−11.1%Jun 23Sep 24Mar 26
68330%51221%34112%170.0%0−107%₹ Cr%₹56−11.1%Jun 23Sep 24Mar 26

🚨 Why profit moved: revenue contributed +27.2% and the margin −7.0 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit +96.4% vs revenue +74.6%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: 66% of the last 3 years' profit arrived as cash.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 66% of Anupam Rasayan India Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹334 Cr of operating cash against ₹222 Cr of profit. After ₹1,566 Cr of capital spending, ₹−1,232 Cr was left as free cash.

FY26: operating cash of ₹334 Cr against reported profit of ₹222 Cr, leaving free cash of ₹−1,232 Cr after ₹1,566 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 66% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹334 Cr vs profit ₹222 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution. FY19/FY24/FY26 reflects an acquisition year — point shown clipped.
66% of 3-year profit arrived as cash
Operating cashNet profitFree cash
395175−45−264−484₹ Cr₹334₹222₹−423FY16FY21FY26
395175−45−264−484₹ Cr₹334₹222₹−423FY16FY21FY26
FY26: CFO = 150% of profit (three-year rate 66%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
213%126%38%−50%−137%%150%FY16FY21FY26
213%126%38%−50%−137%%150%FY16FY21FY26

🚨 Why conversion sits at 66%: the cash cycle tightened 31 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: the bigger cash user is investment — capital spending ran 8.1× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹2,612 Cr of building over 3 years.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Anupam Rasayan India Ltd's cash conversion cycle runs 377 days in FY26, down from 408 days in FY21. Capital spending ran ₹2,612 Cr over the last 3 years. At FY26 sales of ₹2,365 Cr each day of that cycle holds about ₹6.5 Cr, so roughly ₹2,443 Cr sits inside the business at any moment.

FY26: debtors at 148 days, inventory at 490 days — roughly 16.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 377 days, tighter than FY21's 408.

The full loop: cash goes out to suppliers and production on day 0; stock waits 490 days to sell; customers pay about 148 days after that; and suppliers themselves are paid at 261 days — netting out to the 377-day cycle.

In money terms: at FY26 sales of ₹2,365 Cr, each day of the cycle holds about ₹6.5 Cr — so the 377-day loop keeps roughly ₹2,443 Cr sitting inside the business at any moment.

FY26: a 377-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 12-year window.
−31 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
944698452206−40days377d490d148d261dFY15FY17FY20FY23FY26
944698452206−40days377d490d148d261dFY15FY20FY26

On the investment side: capital spending of ₹2,612 Cr over the last 3 fiscal years against ₹322 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹114 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹1,566 Cr, work-in-progress ₹114 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
1.7k1.3k8464230₹ Cr₹1,566₹114FY16FY18FY21FY23FY26
1.7k1.3k8464230₹ Cr₹1,566₹114FY16FY21FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 7%.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Anupam Rasayan India Ltd earns a ROCE of 7% in FY26. That is up from a trough of 7% in FY25. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 9.4% net margin on 0.30× asset turns.

FY26 ROCE is 7%, recovered from a FY25 trough of 7% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 9.4% net margin × 0.30× asset turns × 2.40× balance-sheet leverage ≈ 6.8% on equity. Margin does its share; leverage is a meaningful part of the equation.

FY26: ROCE 7% Return on capital employed by fiscal year, % (line). 11-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY25's 7%
ROCEWACC
31%24%18%12%5.2%%7%FY16FY18FY21FY23FY26
31%24%18%12%5.2%%7%FY16FY21FY26

The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 63% on reported income across 15 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.56.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Anupam Rasayan India Ltd carries ₹1,867 Cr of borrowings against ₹3,334 Cr of equity in FY26, a debt-to-equity of 0.56. Operating profit covers the interest bill 4×. Over 5 years borrowings went from ₹423 Cr to ₹1,867 Cr. Capital spending ran ₹2,612 Cr across the last 3 of those years.

FY26: borrowings of ₹1,867 Cr against equity of ₹3,334 Cr — a debt-to-equity of 0.56. Operating profit covers the interest bill 4×. Over 5 years borrowings went from ₹423 Cr to ₹1,867 Cr while capital spending ran ₹2,612 Cr in just the last 3 — part of the build-out is riding on borrowed money.

FY26: borrowings ₹1,867 Cr at 0.56× equity Borrowings by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 12-year window. Quarterly balance-sheet history is not held for India — annual is the honest resolution.
the debt trajectory
BorrowingsDebt-to-equity
2.0k2.0×1.5k1.6×1.0k1.1×5040.6×00.1×₹ Cr×₹1,8670.56×FY15FY17FY20FY23FY26
2.0k2.0×1.5k1.6×1.0k1.1×5040.6×00.1×₹ Cr×₹1,8670.56×FY15FY20FY26

The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 63% on reported income across 15 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Who owns this, and are they adding or leaving? Next: Promoters cut 2.2 points over 8 quarters.

12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 2.2 points of Anupam Rasayan India Ltd over 8 quarters, the biggest move on the register. That takes promoters to 59.1% of the company. Domestic institutions moved −2.2 points over the same window, to 0.4%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −2.2 points over 8 quarters to 59.1%; Domestic institutions: −2.2 points over 8 quarters to 0.4%; Foreign institutions: +0.6 points over 8 quarters to 7.7%.

🚨 Why the register moved: promoters drove it (−2.2 points), alongside domestic institutions (−2.2 points) — distribution into the market’s bid.

Fiscal-year ends: promoters −2.2 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
66%48%31%13%−4.5%%59.1%6.9%0.3%33.6%Mar 24Mar 25Mar 26
66%48%31%13%−4.5%%59.1%6.9%0.3%33.6%Mar 24Mar 25Mar 26
Promoters cut 2.2 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
66%49%31%13%−4.5%%59.1%7.7%0.4%32.8%Jun 23Dec 24Jun 26
66%49%31%13%−4.5%%59.1%7.7%0.4%32.8%Jun 23Dec 24Jun 26

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Anupam Rasayan India Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Related companies · same sector · Speciality Chemicals Every company is compared on the shape of its own curves, not static ratios. The Revenue, EPS and ROCE columns each draw that company's last 12 quarters as a mini line of the ACTUAL level (trailing-twelve-month revenue and EPS, and the ROCE itself) — so a line that climbs is a business getting bigger, a line that sinks is one shrinking. The colour tracks the same line: green when it is rising or steadily healthy, amber when it is rolling over from a high (still elevated but turning down), red when it is falling, grey when flat or stuck. Colour and direction always agree — a green line never points down. The ROCE curve is the return on capital (annual readings for peers, so a slightly coarser line than the quarterly one at the top of this page). The Stage column then runs the same 12-quarter trajectory classifier used at the top of the page on each company and names where it sits. What lands a company in each bucket: CONSISTENT — growth stays positive across the window and returns are healthy (ROCE ≥ 15%, or ROE ≥ 12% for lenders); IMPROVING — profit or EPS fell into real decline, bottomed a few quarters back, and has climbed back to positive and held there; TURNING AROUND — the same kind of trough but more recent, with the latest quarters just lifting off it (an early, unconfirmed turn); TOPPING OUT — growth is still positive but decelerating hard from its own peak while returns have stopped rising; DETERIORATING — two or more growth curves are shrinking (latest below zero) and staying there, not one soft quarter; MIXED — the curves genuinely disagree, or no clean majority, so no single word fits; NO READ — fewer than eight usable quarters. It is a like-for-like read of every company against its own past, not a ranking against the group.
CompanyP/EMkt capRevenueEPSROCEStage
Anupam Rasayan India Ltd this page83.6×₹14,226 CrImproving
Pidilite Industries Ltd64.9×₹1.6L CrConsistent
Aether Industries Ltd83.7×₹18,945 CrMixed
Aarti Industries Ltd42.1×₹17,331 CrTurning around
Privi Speciality Chemicals Ltd42.9×₹14,044 CrMixed
Vinati Organics Ltd30.4×₹13,478 CrTopping out
Alkyl Amines Chemicals Ltd48.3×₹9,153 CrNo read
Clean Science & Technology Ltd33.4×₹7,663 CrDeteriorating
Galaxy Surfactants Ltd24.8×₹6,896 CrMixed
Neogen Chemicals Ltd159.0×₹5,648 CrMixed
Fineotex Chemical Ltd37.7×₹4,610 CrTurning around
Vishnu Chemicals Ltd29.9×₹4,257 CrMixed
Tatva Chintan Pharma Chem Ltd76.9×₹4,029 CrTurning around
Yasho Industries Ltd147.0×₹3,704 CrImproving
Grauer & Weil (India) Ltd20.4×₹3,354 CrTurning around
Panama Petrochem Ltd14.2×₹3,014 CrTurning around
Fineotex Chemical Ltd28.3×₹2,551 CrTurning around
Thirumalai Chemicals Ltd₹2,022 CrNo read
Paushak Ltd41.6×₹1,387 CrMixed
Platinum Industries Ltd23.9×₹1,251 CrImproving
Amines & Plasticizers Ltd29.3×₹1,069 CrTopping out
Sunshield Chemicals Ltd35.5×₹1,051 CrTurning around
Vikram Thermo (India) Ltd20.0×₹768 CrMixed
Sunshield Chemicals Ltd29.2×₹720 CrTurning around
DMCC Speciality Chemicals Ltd24.9×₹680 CrMixed
Chemcon Speciality Chemicals Ltd27.4×₹647 CrImproving
Amal Ltd23.0×₹628 CrNo read
Transpek Industry Ltd13.0×₹595 CrDeteriorating
Kronox Lab Sciences Ltd20.7×₹573 CrMixed
12 · Frequently asked questions

Frequently asked questions

What is Anupam Rasayan India Ltd's share price today?

Anupam Rasayan India Ltd trades at ₹1,268, +10.2% over the past year. The company is valued at ₹14,226 Cr. The stock sits at 65% of its 52-week range of ₹1,065–₹1,376, +2.5% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 64 weeks in. — as of 24 July 2026.

What were Anupam Rasayan India Ltd's latest quarterly results?

Anupam Rasayan India Ltd reported revenue of ₹636 Cr and net profit of ₹56.0 Cr for the Mar 26 quarter. Revenue rose 27.2% and profit fell 11.1% year on year. Earnings per share were ₹3.75. The operating margin was 22.0%, 7.0 pp lower than a year earlier. — as of 24 July 2026.

What is Anupam Rasayan India Ltd's revenue?

Anupam Rasayan India Ltd reported revenue of ₹636 Cr in the Mar 26 quarter, +27.2% year on year. For the full FY26 fiscal year, revenue was ₹2,365 Cr (+64.6%). Over the last 10 years revenue compounded at 24.1% a year. — as of 24 July 2026.

What is Anupam Rasayan India Ltd's profit?

Anupam Rasayan India Ltd earned ₹56.0 Cr of net profit in the Mar 26 quarter, −11.1% year on year. Full-year FY26 profit was ₹222 Cr. The operating margin ran 22.0% in the latest quarter. — as of 24 July 2026.

What is Anupam Rasayan India Ltd's market cap?

Anupam Rasayan India Ltd's market capitalisation is ₹14,226 Cr at a share price of ₹1,268. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.

What is Anupam Rasayan India Ltd's P/E ratio?

Anupam Rasayan India Ltd trades at a P/E of 83.6×, at the 61st percentile of its own 5-year range, against a long-run median of 70.5×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Does Anupam Rasayan India Ltd pay a dividend?

Yes — Anupam Rasayan India Ltd's dividend payout was 10% of profit in FY26, and it recorded a payout in 6 of its last 12 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.

Is Anupam Rasayan India Ltd overvalued?

On its own history, Anupam Rasayan India Ltd looks mid-range against its own history: its P/E of 83.6× sits at the 61st percentile of its 5-year range (long-run median 70.5×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.

Is Anupam Rasayan India Ltd growing?

Not right now — Anupam Rasayan India Ltd's latest numbers are shrinking: latest-quarter revenue +27.2% year on year, profit −11.1%, and the margin −7.0 pp at 22.0%. The 10-year compound rates are 24.1% (revenue) and 20.0% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.

How is Anupam Rasayan India Ltd performing?

Anupam Rasayan India Ltd is in a confirmed uptrend, 64 weeks in. Its latest quarter's revenue rose 27.2% and profit fell 11.1% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 11 weeks. This describes what the data did, not a rating. — as of 24 July 2026.

What stage is Anupam Rasayan India Ltd in?

Improving — EPS growth bottomed 5 quarters ago at −49.3% and has held its recovery at +77.4%, ROCE slipping at 7.0%. The read comes from the last 12 quarters of growth (revenue growth +64.5% latest, profit growth +38.7% latest, eps growth +77.4% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.

Is Anupam Rasayan India Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 64 of stage 2), trading +2.5% versus its 200-day average and at 65% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.

Is Anupam Rasayan India Ltd beating the market?

Not lately — on a trailing-13-week view Anupam Rasayan India Ltd is currently behind the NIFTY 500 (11 weeks and counting; last ahead the week of 2026-06-05), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 5.3 years the stock moved +156% against the NIFTY 500's +90% — ahead of the index over the full window. — as of 24 July 2026.

Will Anupam Rasayan India Ltd's share price go up?

This page publishes no price forecast for Anupam Rasayan India Ltd. What it measures instead: the share price is ₹1,268, the price is in a confirmed uptrend 64 weeks in. Its P/E of 83.6× sits at the 61st percentile of its own 5-year range. — as of 24 July 2026.

Who owns Anupam Rasayan India Ltd?

Promoters hold 59.1% of Anupam Rasayan India Ltd, foreign institutions 7.7%, domestic institutions 0.4% and the public 32.8% (latest quarter). The biggest move on the register over the last two years: Promoters cut 2.2 points over 8 quarters. — as of 24 July 2026.

Does Anupam Rasayan India Ltd have too much debt?

It is moderate — Anupam Rasayan India Ltd's debt-to-equity is 0.56, and operating profit covers the interest bill 4×. FY26 borrowings were ₹1,867 Cr against equity of ₹3,334 Cr. Read the returns on this page with that leverage in mind — as of 24 July 2026.

What is Anupam Rasayan India Ltd's capex?

Anupam Rasayan India Ltd spent ₹2,612 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹1,566 Cr, with ₹114 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.

What is Anupam Rasayan India Ltd's cash flow?

Anupam Rasayan India Ltd generated ₹334 Cr of operating cash flow in FY26 and ₹−1,232 Cr of free cash flow after ₹1,566 Cr of capital spending. Reported profit that year was ₹222 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is Anupam Rasayan India Ltd's profit real cash?

Mostly — over the last 3 fiscal years, 66% of Anupam Rasayan India Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹334 Cr against reported profit of ₹222 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.

Where is Anupam Rasayan India Ltd in its business cycle?

Anupam Rasayan India Ltd's FY26 operating margin was 22.0%, against a 12-year band of 19.0%–28.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 22.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.

What could break the Anupam Rasayan India Ltd story?

The sharpest disagreement: annual EPS moved +76.0% against a +10.2% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.

Is Anupam Rasayan India Ltd a stock worth studying right now?

This is not investment advice. The machine read: Anupam Rasayan India Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.

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