Acutaas zooms 100% in 8 months; what's driving speciality chemicals stock?
Acutaas Chemicals management has revised revenue guidance upwards from 25 per cent to around 30 per cent growth for FY26.
 "Acutaas zooms 100% in 8 months; what's driving speciality chemicals stock?")
Acutaas Chemicals stock price today
Shares of Acutaas Chemicals hit a record high of ₹2,213.25, as the stock rallied 5 per cent on the BSE in Thursday’s intra-day trade on strong business outlook.
In the past one month, the stock price of the speciality chemicals company has soared 11 per cent, as against 4.5 per cent decline in the BSE Sensex. In the past eight months, the stock has appreciated 100 per cent from a level of ₹1,101.25 on July 8, 2025.
What's driving Acutaas Chemicals stock price?
Acutaas Chemicals is a speciality chemicals manufacturer serving a wide range of industries, including pharmaceuticals, semiconductors, battery chemicals, personal care, agrochemicals, and fine chemicals. The company’s core strength lies in the research-driven development and manufacturing of advanced pharmaceutical intermediates used in both regulated and generic active pharmaceutical ingredient (APIs), as well as intermediates for New Chemical Entities (NCEs).
In the first nine months (April to December) of the financial year 2025-26 (9MFY26), the company reported 127 per cent year-on-year (YoY) jump in consolidated profit after tax at ₹222.1 crore, against ₹97.7 crore. Revenue from operations grew 29.8 per cent YoY at ₹906.6 crore from ₹698.4 crore. EBITDA margins improved to 32.7 per cent from 21.1 per cent.
The management revised revenue guidance upwards from 25 per cent to around 30 per cent growth for FY26.
The management said the company is actively pursuing contract manufacturing organizations (CMOs) and contract development and manufacturing organizations (CDMOs) opportunities to accelerate growth in its core business of pharmaceutical intermediates segment. The company said it has developed a strong pipeline with four products already validated, and expect some of these opportunities to begin contributing to top line from FY27 onwards.
On battery chemicals business, the management said that the company inaugurated a new block at Jhagadia facility. While Q4 will primarily be a quarter of trial production, testing, validation and the commencement of the commercial operations, the company expect this business to ramp up significantly from Q1 FY27.
The semiconductor chemicals segment is witnessing encouraging traction from clients in both businesses. At Baba Fine Chemicals (BFC), engagement with Japanese customer has been very promising, in other than Heraeus products. At Indichem, the company has already initiated discussions with various clients regarding its product offerings.
Overall, the management believes that FY28, these three business verticals will operate as independent self sustaining growth engines, each contributing meaningfully to overall top line.
Kotak Institutional Equities view on Acutaas Chemicals
Amid turbulent macros, CDMO opportunities continue to shine, albeit outside of agrochemicals, which remain under pressure due to Chinese overcapacity and weak crop prices. Acutaas is seeing good traction in CDMO projects across end-use industries, including pharma, material science and oil & gas additives. Separately, battery chemicals and semiconductor chemicals are emerging as new growth areas, with Acutaas indicating traction in battery chemicals, and Acutaas making progress in product development for semiconductors.
Q3FY26 results clearly showed that the CDMO engine is firing strongly. Revenue growth was sharp, but more importantly, margins expanded meaningfully due to better product mix and operating leverage. EBITDA and profit growth outpaced revenue growth, and management has raised its full-year growth guidance to around 30 per cent, reflecting confidence in the order book.
Financially, the balance sheet remains comfortable with a low debt and improving return ratios. Return on capital employed (ROCE) and return on equity (ROE) have strengthened as scale and profitability improved. Kotak Institutional Equities said they continue to value Acutaas at 35x earnings and maintain a target price of ₹2,350. Strong CDMO momentum and gradual scaling of battery and semiconductor verticals keep the long-term growth story intact. ======================================== Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.