Sector Alpha Week of 2026-09-11
Not SEBI Registered !! Not Investment advice !!
Sector Alpha — machine-written from the numbers · Data as of 2026-09-11

Oriental Aromatics Ltd

OAL
Chemicals - Organic

Oriental Aromatics Ltd's price has outrun its earnings. +58.4% in a year against EPS −90.4% — the market is paying now for delivery later.

The sharpest disagreement: the price moved +58.4% in a year while annual EPS moved −90.4% — the difference is re-rating, and re-rating has to be repaid with earnings.

The price is in a confirmed uptrend (13 weeks in) while the P/E sits at the 99th percentile of its own 8-year range. Underneath, the last four quarters read improving — profit +402.0% year on year, and 239% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.

Stage
Deteriorating
partial read
Price
₹534
+58.4% 1Y
P/E
337.0×
99th pctile
of its own 8-year range
Revenue (Jun 26)
₹260 Cr
+15.2% YoY
Profit (Jun 26)
₹2.5 Cr
+402.0% YoY
Operating margin
7.6%
−0.4 pp YoY
ROCE
4%
FY26
ROIC
1.4%
vs WACC 12.0% → −10.6 pp
Cash conversion
239%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
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.

Oriental Aromatics Ltd trades at ₹534, in a confirmed uptrend and 13 weeks into that stage. That is +54.1% against its own 200-day average. It sits at 100% of a 52-week range of ₹235 to ₹534. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks.

Today the stock is in a confirmed uptrend — week 13 of stage 2, confirmed. At ₹534 it trades +54.1% versus its 200-day average and sits at 100% of its 52-week range (₹235–₹534).

Sep 26: ₹534 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.
+54.1% versus the 200-day line, week 13 of stage 2
Price50-day avg200-day avg
S4S2S4S4S2₹650₹538₹427₹315₹204₹534₹346Sep 23Jun 24Mar 25Dec 25Sep 26
S4S2S4S4S2₹650₹538₹427₹315₹204₹534₹346Sep 23Mar 25Sep 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (552 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 16Sep 26

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +371% while the NIFTY 500 moved +267% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 3 straight weeks — 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.

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.

Oriental Aromatics Ltd trades at 337.0× P/E, about the priciest it has ever traded. Its long-run median P/E is 33.8×, measured across 8.0 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 337.0× is about the priciest it has ever traded, against a long-run median of 33.8× measured over 8.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 337.0× vs a 33.8× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 8.0-year window; loss-period spikes above 101× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
about the priciest it has ever traded
P/EMedianEPS (TTM) (quarterly)
108.8×₹36.881.6×₹27.654.4×₹18.427.3×₹9.20.0×₹0.0×101.30×₹2Sep 18Jul 20Apr 22Aug 24Sep 26
108.8×₹36.881.6×₹27.654.4×₹18.427.3×₹9.20.0×₹0.0×101.30×₹2Sep 18Apr 22Sep 26
P/E
337.0×
99th percentile of 8y

🚨 Why the multiple sits where it does: over the past year annual EPS moved −90.4% against a +58.4% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the −10.8%/yr price move, ~−45.9%/yr came from earnings growth and ~+35.1 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 full against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

03 · Stage: Deteriorating

Stage: Deteriorating 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).

Oriental Aromatics Ltd reads as deteriorating on its fundamental arc. Deteriorating — profit and EPS growth are shrinking (profit growth −77.7% latest against +25205.9% at its 12-quarter best), ROCE holding at 4.0%. The read is built from 8 quarters across 4 curves, on partial evidence.

Growth, year by year: revenue +11.1% in FY26, profit −91.2% 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
54%307%37%200%21%93%5.0%−14%−11%−121%%%11.1%−91.2%FY17FY21FY26
54%307%37%200%21%93%5.0%−14%−11%−121%%%11.1%−91.2%FY17FY21FY26
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. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue stabilising, profit rolling over
RevenueProfitEPS
14%332%12%216%9.8%101%7.6%−15%5.4%−130%%%13.5%−77.7%−77.5%Sep 23Dec 24Jun 26
14%332%12%216%9.8%101%7.6%−15%5.4%−130%%%13.5%−77.7%−77.5%Sep 23Dec 24Jun 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
8.3%7.2%6.0%4.8%3.7%%4%FY23FY24FY26
8.3%7.2%6.0%4.8%3.7%%4%FY23FY24FY26
Revenue growth
Steady high
latest +13.5% · span +6.0% to +13.5%
Profit growth
Recovering
latest −77.7% · span −98.3% to +25,205.9%
EPS growth
Recovering
latest −77.5% · span −98.3% to +25,460.0%
ROCE
Stuck low
latest 4.0% · span 4.0%–8.0%

🚨 Why it matters: falling curves mean every cheap-looking ratio below needs a discount for direction.

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.

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+11.1%+6.5%+7.8%
Profit−91.2%−46.9%−50.6%
EPS−90.4%−44.9%−49.7%
Share price+58.4%+11.3%−10.8%+13.0%
Revenue YoY (Jun 26)
+15.2%
latest quarter vs a year ago
Profit YoY (Jun 26)
+402.0%
latest quarter vs a year ago
Revenue 10y
9.4%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

36.0/100 — rank 16 of 20 in Chemicals - Organic · 74% evidence confidence

Oriental Aromatics Ltd scores 36.0 out of 100 against the 20 companies it is compared with in Chemicals - Organic, ranking 16. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 12.5 + 4.3 + 8.7 + 10.5 = 36. 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.

Oriental Aromatics Ltd reported ₹260 Cr of revenue in the Jun 26 quarter, +15.2% year on year. That is the 10th straight quarter of year-on-year growth. Over 9 years it has compounded at 9.4% a year. The last full year, FY26, came in at ₹1,031 Cr. The last four reported quarters add to ₹1,065 Cr.

FY26 revenue came in at ₹1,031 Cr (+11.1% on the year), capping 9 years at 9.4% compound. The latest quarter (Jun 26) printed ₹260 Cr, +15.2% year on year — the 10th consecutive quarter of year-over-year growth.

FY26 revenue ₹1,031 Cr (+11.1% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 10-year window. A bar is red when it is lower than the year before.
9.4% a year over 9 years
RevenueYoY growth
1.1k54%83537%55721%2785.0%0−11%₹ Cr%₹1,03111.1%FY17FY21FY26
1.1k54%83537%55721%2785.0%0−11%₹ Cr%₹1,03111.1%FY17FY21FY26
Jun 26: ₹260 Cr (+15.2% 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.
10th straight quarter of growth
Revenue (quarterly)YoY growth
30518%22913%1527.9%762.8%0−2.4%₹ Cr%₹26015.2%Sep 23Dec 24Jun 26
30518%22913%1527.9%762.8%0−2.4%₹ Cr%₹26015.2%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged +13.6% growth against the decade's 9.4% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +13.5% over the last 4 quarters against +11.5%/yr over the last 8 — stabilising; TTM profit −77.7% vs −54.9%/yr — rolling over.

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.

Oriental Aromatics Ltd's operating margin is 7.6% in the Jun 26 quarter, −0.4 percentage points against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged 6.0% to 22.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 7.6%, −0.4 pp against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged 6.0%–22.0%.

🚨 Why the margin moved: operating margin went −0.4 pp year on year while gross margin went −5.8 pp — the loss came mostly from the gross line: input costs and pricing.

FY26: 7.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 10-year window.
within a 6.0–22.0% band over 10 years
operating marginYoY change (pp)
23%6.3%19%1.6%14%−3.0%9.4%−7.6%4.7%−12%%%7%−3%FY17FY21FY26
23%6.3%19%1.6%14%−3.0%9.4%−7.6%4.7%−12%%%7%−3%FY17FY21FY26
Jun 26: 7.6% operating margin (−0.4 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)
13%11%11%6.5%8.5%2.1%6.4%−2.4%4.3%−6.9%%%7.6%−0.4%Sep 23Dec 24Jun 26
13%11%11%6.5%8.5%2.1%6.4%−2.4%4.3%−6.9%%%7.6%−0.4%Sep 23Dec 24Jun 26
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.

Oriental Aromatics Ltd earned ₹2.5 Cr of net profit in the Jun 26 quarter, +402.0% year on year. It is the 2nd consecutive quarter of growth. Full-year FY26 profit was ₹3.0 Cr. The 9-year compound rate is −22.0%. That is 1.0% of the quarter's revenue. The same quarter a year earlier earned ₹0.5 Cr.

Jun 26 profit was ₹2.5 Cr, +402.0% year on year — the 2nd consecutive quarter of growth. On the full year, FY26 printed ₹3.0 Cr (−91.2%), and the 9-year compound rate is −22.0%.

FY26 profit ₹3.0 Cr (−91.2% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 10-year window. A bar is red when it is lower than the year before.
−22.0% a year over 9 years
Net profitYoY growth
110307%83200%5593%28−14%0−121%₹ Cr%₹3−91.2%FY17FY21FY26
110307%83200%5593%28−14%0−121%₹ Cr%₹3−91.2%FY17FY21FY26
Jun 26: ₹2.5 Cr (+402.0% 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.
2nd straight quarter of growth
Net profit (quarterly)YoY growth
16821%11566%6312%257%−3−197%₹ Cr%₹3402%Sep 23Dec 24Jun 26
16821%11566%6312%257%−3−197%₹ Cr%₹3402%Sep 23Dec 24Jun 26

Why profit moved: revenue contributed +15.2% and the margin −0.4 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +90.3% vs revenue +13.6%. 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.

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 239% of Oriental Aromatics Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹2.0 Cr of operating cash against ₹3.0 Cr of profit. After ₹11.0 Cr of capital spending, ₹−9.0 Cr was left as free cash.

FY26: operating cash of ₹2.0 Cr against reported profit of ₹3.0 Cr, leaving free cash of ₹−9.0 Cr after ₹11.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 239% of profit.

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

FY26: CFO ₹2.0 Cr vs profit ₹3.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 9-year window, annual resolution. FY23 reflects an acquisition year — point shown clipped.
239% of 3-year profit arrived as cash
Operating cashNet profitFree cash
20312241−41−122₹ Cr₹2₹3₹−9FY18FY22FY26
20312241−41−122₹ Cr₹2₹3₹−9FY18FY22FY26
FY26: CFO = 67% of profit (three-year rate 239%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
333%214%95%−24%−143%%67%FY18FY22FY26
333%214%95%−24%−143%%67%FY18FY22FY26

Why conversion sits at 239%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle.

Router verdict: the bigger cash user is investment — capital spending ran 2.9× depreciation over three years, so the next section's job is to check what that build-out is buying.

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).

Oriental Aromatics Ltd's cash conversion cycle runs 247 days in FY26, up from 242 days in FY21. Capital spending ran ₹214 Cr over the last 3 years. At FY26 sales of ₹1,031 Cr each day of that cycle holds about ₹2.8 Cr, so roughly ₹698 Cr sits inside the business at any moment.

FY26: debtors at 89 days, inventory at 203 days — roughly 6.7 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 247 days, looser than FY21's 242.

The full loop: cash goes out to suppliers and production on day 0; stock waits 203 days to sell; customers pay about 89 days after that; and suppliers themselves are paid at 44 days — netting out to the 247-day cycle.

In money terms: at FY26 sales of ₹1,031 Cr, each day of the cycle holds about ₹2.8 Cr — so the 247-day loop keeps roughly ₹698 Cr sitting inside the business at any moment.

FY26: a 247-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 10-year window.
+5 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
2802151518621days247d203d89d44dFY17FY19FY21FY23FY26
2802151518621days247d203d89d44dFY17FY21FY26

On the investment side: capital spending of ₹214 Cr over the last 3 fiscal years against ₹75.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹5.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹11.0 Cr, work-in-progress ₹5.0 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
18714093470₹ Cr₹11₹5FY18FY20FY22FY24FY26
18714093470₹ Cr₹11₹5FY18FY22FY26

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

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.⚠ unverified

Oriental Aromatics Ltd earns a ROCE of 4% in FY26. Return on invested capital clears the cost of that capital by −10.6 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 0.3% net margin on 0.86× asset turns.

FY26 ROCE is 4%.

🚨 Why the return is what it is — the wiring (FY26): 0.3% net margin × 0.86× asset turns × 1.80× balance-sheet leverage ≈ 0.5% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 1.4% − 12.0% = a −10.6 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 4% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 9-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the full ladder
ROCEROIC (annual)WACC
26%19%13%5.9%−0.7%%4%1.1%FY18FY22FY26
26%19%13%5.9%−0.7%%4%1.1%FY18FY22FY26
Q4 FY26: ROCE 4.9% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
13%9.7%6.5%3.4%0.2%%4.9%1.4%Q1 FY24Q2 FY25Q4 FY26
13%9.7%6.5%3.4%0.2%%4.9%1.4%Q1 FY24Q2 FY25Q4 FY26
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Oriental Aromatics Ltd carries total debt of ₹403 Cr against shareholder equity of ₹665 Cr as of Mar 26, a debt-to-equity of 0.61. On the annual view that ratio went from 0.23 in FY22 to 0.61 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹403 Cr against shareholder equity of ₹665 Cr — a debt-to-equity of 0.61. On the annual view, debt-to-equity went from 0.23 (FY22) to 0.61 (FY26). Read the returns on this page with that leverage in mind.

FY26: debt ₹403 Cr at 0.61× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
4350.6×3260.5×2180.4×1090.3×00.2×₹ Cr×₹4030.61×FY22FY24FY26
4350.6×3260.5×2180.4×1090.3×00.2×₹ Cr×₹4030.61×FY22FY24FY26
Mar 26: debt ₹403 Cr, debt-to-equity 0.61 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
4350.63×3260.55×2180.47×1090.39×00.31×₹ Cr×₹4030.61×Jun 23Sep 24Mar 26
4350.63×3260.55×2180.47×1090.39×00.31×₹ Cr×₹4030.61×Jun 23Sep 24Mar 26
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.

No holder of Oriental Aromatics Ltd moved a full percentage point over the last two years — the register is quiet. Promoters moved +0.0 points over the same window, to 74.2%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −0.1 points over 8 quarters to 0.0%; Promoters: +0.0 points over 8 quarters to 74.2%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.

Fiscal-year ends: promoters +0.0 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
80%59%37%16%−5.9%%74.2%0%0%25.8%Mar 24Mar 25Mar 26
80%59%37%16%−5.9%%74.2%0%0%25.8%Mar 24Mar 25Mar 26
A quiet register: no holder moved a full point in two years Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
80%59%37%16%−5.9%%74.2%0.0%0%25.8%Jun 23Dec 24Jun 26
80%59%37%16%−5.9%%74.2%0.0%0%25.8%Jun 23Dec 24Jun 26
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.

Oriental Aromatics 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.

14 · Related companies · Chemicals - Organic
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Valiant Organics LtdVALIANTORG 63.2/100Mixed-positive evidence87% evidence TURNING 24.4/35 Revenue 1.5% · PAT 100% · OPM change 6 pp 95% evidence 10.8/25 ROCE 5.5% · OPM 18% 95% evidence 11.0/20 P/E 22× · PEG — 50% evidence 17.0/20 RS sector 9.4% · RS bench 42.8% · 1Y 9.4%5 of 12 weeks ahead 100% evidence
Exact sum: 24.4 + 10.8 + 11 + 17 = 63.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Foseco India LtdFOSECOIND 63.1/100Mixed-positive evidence87% evidence BREAKING OUT 19.5/35 Revenue 32.6% · PAT 20.5% · OPM change 5.2 pp 100% evidence 16.9/25 ROCE 17.4% · OPM 23% 100% evidence 11.5/20 P/E 44.8× · PEG 1.31 65% evidence 15.2/20 RS sector 24.1% · RS bench 21% · 1Y -4%6 of 10 weeks ahead 70% evidence
Exact sum: 19.5 + 16.9 + 11.5 + 15.2 = 63.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Elantas Beck India LtdELANTAS 62.3/100Mixed-positive evidence76% evidence BREAKING OUT 26.3/35 Revenue 17.6% · PAT 33.1% · OPM change 10 pp 95% evidence 19.1/25 ROCE 21.2% · OPM 29% 76% evidence 6.3/20 P/E 64.8× · PEG — 50% evidence 10.6/20 RS sector -6.6% · RS bench 52.4% · 1Y 35.2%6 of 9 weeks ahead 70% evidence
Exact sum: 26.3 + 19.1 + 6.3 + 10.6 = 62.3 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
4OCCL LtdOCCLLTD 61.4/100Mixed-positive evidence60% evidence BREAKING OUT 26.5/35 Revenue 40.6% · PAT 100% · OPM change 7 pp 95% evidence 12.2/25 ROCE 13% · OPM 28% 76% evidence 11.5/20 P/E 10.4× · PEG — 15% evidence 11.2/20 RS sector — · RS bench 41.5% · 1Y —9 of 9 weeks ahead 25% evidence
Exact sum: 26.5 + 12.2 + 11.5 + 11.2 = 61.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Shri Ahimsa Naturals LtdSHRIAHIMSA 61.0/100Thin evidence · provisional56% evidence LEADER 18.9/35 Revenue — · PAT — · OPM change -2 pp 26% evidence 18.0/25 ROCE 21.7% · OPM 28% 95% evidence 10.0/20 P/E 37.2× · PEG — 15% evidence 14.1/20 RS sector 22.9% · RS bench 58.3% · 1Y 113%12 of 12 weeks ahead 100% evidence
Exact sum: 18.9 + 18 + 10 + 14.1 = 61 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6Indo Amines LtdINDOAMIN 60.6/100Mixed-positive evidence81% evidence BASING 22.3/35 Revenue 13.3% · PAT 24.2% · OPM change 3 pp 95% evidence 16.8/25 ROCE 19.9% · OPM 14% 95% evidence 14.0/20 P/E 11.3× · PEG — 50% evidence 7.5/20 RS sector -11.9% · RS bench 4.6% · 1Y -12.6%4 of 10 weeks ahead 70% evidence
Exact sum: 22.3 + 16.8 + 14 + 7.5 = 60.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Balaji Amines LtdBALAMINES 59.3/100Mixed-positive evidence82% evidence LEADER 26.4/35 Revenue 11.1% · PAT 41.6% · OPM change 10 pp 95% evidence 13.3/25 ROCE 11% · OPM 25% 76% evidence 7.0/20 P/E 36.1× · PEG — 50% evidence 12.6/20 RS sector 18.3% · RS bench 51.3% · 1Y 53.1%12 of 12 weeks ahead 100% evidence
Exact sum: 26.4 + 13.3 + 7 + 12.6 = 59.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Nitta Gelatin India LtdNITTAGELA 59.2/100Mixed-positive evidence72% evidence TURNING 18.8/35 Revenue 10.5% · PAT 24.1% · OPM change 4 pp 95% evidence 19.1/25 ROCE 27.7% · OPM 24% 95% evidence 9.7/20 P/E 14.4× · PEG — 50% evidence 11.6/20 RS sector — · RS bench 46.7% · 1Y —7 of 9 weeks ahead 25% evidence
Exact sum: 18.8 + 19.1 + 9.7 + 11.6 = 59.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9BASF India LtdBASF 52.7/100Mixed-positive evidence94% evidence BREAKING OUT 20.0/35 Revenue 6.5% · PAT 62.4% · OPM change 4 pp 100% evidence 10.7/25 ROCE 14.5% · OPM 10% 100% evidence 14.3/20 P/E 25.7× · PEG 1.62 100% evidence 7.7/20 RS sector -3.3% · RS bench -3.4% · 1Y -21.2%4 of 11 weeks ahead 70% evidence
Exact sum: 20 + 10.7 + 14.3 + 7.7 = 52.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10GFL LtdGFLLIMITED 51.5/100Mixed-positive evidence72% evidence BREAKING OUT 23.9/35 Revenue 10.5% · PAT 100% · OPM change 1064 pp 71% evidence 7.8/25 ROCE 2.1% · OPM 28.2% 95% evidence 11.3/20 P/E 10.6× · PEG — 15% evidence 8.5/20 RS sector -14% · RS bench 12.9% · 1Y -2.6%7 of 12 weeks ahead 100% evidence
Exact sum: 23.9 + 7.8 + 11.3 + 8.5 = 51.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Laxmi Organic Industries LtdLXCHEM 49.5/100Mixed-negative evidence94% evidence BREAKING OUT 19.9/35 Revenue 5.5% · PAT 26% · OPM change 7.6 pp 100% evidence 8.4/25 ROCE 4.7% · OPM 12% 100% evidence 14.7/20 P/E 38.8× · PEG 1.14 100% evidence 6.5/20 RS sector -19.5% · RS bench 9.7% · 1Y -16.6%9 of 10 weeks ahead 70% evidence
Exact sum: 19.9 + 8.4 + 14.7 + 6.5 = 49.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Fine Organic Industries LtdFINEORG 45.6/100Mixed-negative evidence100% evidence BREAKING OUT 14.8/35 Revenue 7.1% · PAT 5.8% · OPM change 4 pp 100% evidence 17.6/25 ROCE 21.5% · OPM 25% 100% evidence 7.2/20 P/E 36.2× · PEG 2.7 100% evidence 6.0/20 RS sector -13.8% · RS bench 12.9% · 1Y 7.1%9 of 12 weeks ahead 100% evidence
Exact sum: 14.8 + 17.6 + 7.2 + 6 = 45.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Jyoti Resins and Adhesives LtdJYOTIRES 43.1/100Mixed-negative evidence69% evidence 9.7/35 Revenue 12.8% · PAT -11.1% · OPM change -13 pp 95% evidence 19.2/25 ROCE 36.5% · OPM 14% 76% evidence 10.8/20 P/E 16.2× · PEG — 15% evidence 3.4/20 RS sector -19.8% · RS bench -11.8% · 1Y -31.4%0 of 12 weeks ahead 70% evidence
Exact sum: 9.7 + 19.2 + 10.8 + 3.4 = 43.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14Sigachi Industries LtdSIGACHI 41.5/100Mixed-negative evidence79% evidence BREAKING OUT 9.0/35 Revenue -9.6% · PAT 100% · OPM change -5.2 pp 71% evidence 7.2/25 ROCE 6.2% · OPM 13.6% 95% evidence 8.4/20 P/E 64.5× · PEG — 50% evidence 16.9/20 RS sector 6.2% · RS bench 38.7% · 1Y 20.6%11 of 12 weeks ahead 100% evidence
Exact sum: 9 + 7.2 + 8.4 + 16.9 = 41.5 · Decision use: Price leads the evidence: RS versus the benchmark is 38.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
15Shree Ganesh Remedies LtdSGRL 41.1/100Mixed-negative evidence76% evidence 6.6/35 Revenue -8.8% · PAT -29.4% · OPM change -6.3 pp 95% evidence 14.6/25 ROCE 14.1% · OPM 23.3% 76% evidence 7.1/20 P/E 54.8× · PEG — 50% evidence 12.8/20 RS sector 3.3% · RS bench 25.3% · 1Y 15.5%4 of 12 weeks ahead 70% evidence
Exact sum: 6.6 + 14.6 + 7.1 + 12.8 = 41.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Oriental Aromatics Ltdthis pageOAL 36.0/100Mixed-negative evidence74% evidence BREAKING OUT 12.5/35 Revenue 13.5% · PAT -77.7% · OPM change -0.4 pp 95% evidence 4.3/25 ROCE 4.5% · OPM 7.6% 95% evidence 8.7/20 P/E 337× · PEG — 15% evidence 10.5/20 RS sector -8.7% · RS bench 66.9% · 1Y 57.7%10 of 10 weeks ahead 70% evidence
Exact sum: 12.5 + 4.3 + 8.7 + 10.5 = 36 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17Fairchem Organics LtdFAIRCHEMOR 33.6/100Adverse evidence87% evidence BREAKING OUT 17.1/35 Revenue 0% · PAT 50% · OPM change 6 pp 95% evidence 6.0/25 ROCE 3.3% · OPM 10% 95% evidence 8.0/20 P/E 52× · PEG — 50% evidence 2.5/20 RS sector -26.6% · RS bench -3.9% · 1Y -22.2%11 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 6 + 8 + 2.5 = 33.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18Gem Aromatics LtdGEMAROMA 24.4/100Adverse evidence65% evidence ASLEEP 1.8/35 Revenue -24.3% · PAT -80% · OPM change -13.6 pp 95% evidence 6.4/25 ROCE 3.4% · OPM 3.3% 95% evidence 8.5/20 P/E 772.2× · PEG — 15% evidence 7.7/20 RS sector — · RS bench -10.4% · 1Y -39.3%5 of 10 weeks ahead 25% evidence
Exact sum: 1.8 + 6.4 + 8.5 + 7.7 = 24.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19Sacheerome LtdSACHEEROME 59.1/100Thin evidence · provisional41% evidence BREAKING OUT 17.3/35 Revenue — · PAT — · OPM change 1 pp 26% evidence 20.3/25 ROCE 35.7% · OPM 23% 95% evidence 9.7/20 P/E 40.1× · PEG — 15% evidence 11.8/20 RS sector — · RS bench 46.9% · 1Y 155.5%9 of 10 weeks ahead 25% evidence
Exact sum: 17.3 + 20.3 + 9.7 + 11.8 = 59.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
20Citurgia Biochemicals LtdCITURGIA 36.7/100Thin evidence · provisional27% evidence 11.8/35 Revenue — · PAT -68.2% · OPM change — 33% evidence 4.9/25 ROCE -2150% · OPM — 61% evidence 10.0/20 P/E — · PEG — 0% evidence 10.0/20 RS sector — · RS bench — · 1Y — 0% evidence
Exact sum: 11.8 + 4.9 + 10 + 10 = 36.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Oriental Aromatics Ltd's share price today?

Oriental Aromatics Ltd trades at ₹534, +58.4% over the past year. The company is valued at ₹1,791 Cr. The stock sits at the very top of its 52-week range (₹235–₹534), +54.1% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 13 weeks in. — as of 11 September 2026.

What were Oriental Aromatics Ltd's latest quarterly results?

Oriental Aromatics Ltd reported revenue of ₹260 Cr and net profit of ₹2.5 Cr for the Jun 26 quarter. Revenue rose 15.2% and profit rose 402.0% year on year. Earnings per share were ₹0.75. The operating margin was 7.6%, 0.4 pp lower than a year earlier. — as of 11 September 2026.

What is Oriental Aromatics Ltd's revenue?

Oriental Aromatics Ltd reported revenue of ₹260 Cr in the Jun 26 quarter, +15.2% year on year. For the full FY26 fiscal year, revenue was ₹1,031 Cr (+11.1%). Over the last 9 years revenue compounded at 9.4% a year. — as of 11 September 2026.

What is Oriental Aromatics Ltd's profit?

Oriental Aromatics Ltd earned ₹2.5 Cr of net profit in the Jun 26 quarter, +402.0% year on year — the 2nd straight quarter of growth. Full-year FY26 profit was ₹3.0 Cr. The operating margin ran 7.6% in the latest quarter. — as of 11 September 2026.

What is Oriental Aromatics Ltd's market cap?

Oriental Aromatics Ltd's market capitalisation is ₹1,791 Cr at a share price of ₹534. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.

What is Oriental Aromatics Ltd's P/E ratio?

Oriental Aromatics Ltd trades at a P/E of 337.0×, at the 99th percentile of its own 8-year range, against a long-run median of 33.8×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.

Does Oriental Aromatics Ltd pay a dividend?

Yes — Oriental Aromatics Ltd's dividend payout was 51% of profit in FY26, and it recorded a payout in each of its last 10 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.

Is Oriental Aromatics Ltd overvalued?

On its own history, Oriental Aromatics Ltd looks expensive: its P/E of 337.0× sits at the 99th percentile of its 8-year range (long-run median 33.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.

Is Oriental Aromatics Ltd growing?

Yes — Oriental Aromatics Ltd is growing: latest-quarter revenue +15.2% year on year, profit +402.0%, and the margin −0.4 pp at 7.6%. The 9-year compound rates are 9.4% (revenue) and −22.0% (profit). The earnings engine currently reads: improving — as of 11 September 2026.

How is Oriental Aromatics Ltd performing?

Oriental Aromatics Ltd is in a confirmed uptrend, 13 weeks in. Its latest quarter's revenue rose 15.2% and profit rose 402.0% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 3 weeks. This describes what the data did, not a rating. — as of 11 September 2026.

What stage is Oriental Aromatics Ltd in?

Deteriorating — profit and EPS growth are shrinking (profit growth −77.7% latest against +25205.9% at its 12-quarter best), ROCE holding at 4.0%. The read comes from the last 12 quarters of growth (revenue growth +13.5% latest, profit growth −77.7% latest, eps growth −77.5% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.

Is Oriental Aromatics Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 13 of stage 2), trading +54.1% versus its 200-day average and at the very top 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 11 September 2026.

Is Oriental Aromatics Ltd beating the market?

On recent form, yes — Oriental Aromatics Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +371% against the NIFTY 500's +267% — ahead of the index over the full window. — as of 11 September 2026.

Will Oriental Aromatics Ltd's share price go up?

This page publishes no price forecast for Oriental Aromatics Ltd. What it measures instead: the share price is ₹534, the price is in a confirmed uptrend 13 weeks in. Its P/E of 337.0× sits at the 99th percentile of its own 8-year range. — as of 11 September 2026.

Who owns Oriental Aromatics Ltd?

Promoters hold 74.2% of Oriental Aromatics Ltd, foreign institutions 0.0%, domestic institutions 0.0% and the public 25.8% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 11 September 2026.

Does Oriental Aromatics Ltd have too much debt?

It is moderate — Oriental Aromatics Ltd's debt-to-equity is 0.61, and operating profit covers the interest bill 2×. FY26 borrowings were ₹403 Cr against equity of ₹665 Cr. Read the returns on this page with that leverage in mind — as of 11 September 2026.

What is Oriental Aromatics Ltd's capex?

Oriental Aromatics Ltd spent ₹214 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 ₹11.0 Cr, with ₹5.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.

What is Oriental Aromatics Ltd's cash flow?

Oriental Aromatics Ltd generated ₹2.0 Cr of operating cash flow in FY26 and ₹−9.0 Cr of free cash flow after ₹11.0 Cr of capital spending. Reported profit that year was ₹3.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 11 September 2026.

Is Oriental Aromatics Ltd's profit real cash?

Yes — over the last 3 fiscal years, 239% of Oriental Aromatics Ltd's reported profit arrived as operating cash. Though the latest year ran at 67% — the trend is the thing to watch. In FY26, operating cash was ₹2.0 Cr against reported profit of ₹3.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.

Where is Oriental Aromatics Ltd in its business cycle?

Oriental Aromatics Ltd's FY26 operating margin was 7.0%, against a 10-year band of 6.0%–22.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 7.6%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.

What could break the Oriental Aromatics Ltd story?

The sharpest disagreement: the price moved +58.4% in a year while annual EPS moved −90.4% — the difference is re-rating, and re-rating has to be repaid with earnings. 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 11 September 2026.

Is Oriental Aromatics Ltd a stock worth studying right now?

This is not investment advice. The machine read: Oriental Aromatics Ltd's price has outrun its earnings. +58.4% in a year against EPS −90.4% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.

Sector Alpha — machine-written from the numbers · Data as of 2026-09-11. Every chart on this page is drawn by deterministic code from the raw series — no forecasts, no price opinions, and nothing here is investment advice.

Not SEBI Registered !! Not Investment advice !!

Chat with this pageChat with pageChatChatGPTClaudePerplexityGoogle AI