Atul board weighs buyback: Motilal Oswal set INR 8,400 target for Atul stock

Published on 10/20/2026 at 00:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-quarter revenue reached INR 18.50 billion, up 25 percent year on year. For Atul stock, the board will review results on October 23.

Capital allocation and results

On October 19, 2026, Atul disclosed a board review of an INR 10 share buyback for October 23.
First-quarter fiscal 2027 revenue reached INR 18.50 billion, up 25 percent year on year.
Atul's market capitalization was INR 182.2 billion as of October 19, 2026.

Atul, INE100A01010, Illustration mit AI erstellt.

Atul (ISIN INE100A01010) said on October 19, 2026, that its board will consider a buyback of equity shares with an INR 10 face value at its October 23 meeting, according to ScanX News. In a July 25, 2026 research update, Motilal Oswal had set an INR 8,400 target for Atul after the company's first-quarter performance, as reported by DSIJ. The immediate question is whether the board will announce terms or only approve the proposal for further work.

What does the review put on the calendar?

The October 23 meeting will cover the buyback proposal and the unaudited standalone and consolidated results for the quarter and six months ended September 30, 2026. The trading window is scheduled to remain closed through October 25, 2026, according to Chola Securities.

Three dates show the setup

On July 24, 2026, Atul approved INR 1.67 billion of capacity investment for two herbicide facilities, while on July 25, 2026, it reported first-quarter fiscal 2027 revenue of INR 18.50 billion, up 25 percent year on year, according to DSIJ. On October 19, 2026, the company disclosed the October 23 board review and buyback proposal, as reported by ScanX News.

What does the margin history show?

Atul's first-quarter fiscal 2027 adjusted profit after tax reached INR 2.50 billion, up 92 percent year on year. Its margin picture also improved, with the EBITDA margin at 21.30 percent versus 16.20 percent expected by Motilal Oswal in the July 25, 2026 update. Performance and Other Chemicals revenue rose 34 percent year on year to INR 14.20 billion, while Life Science Chemicals revenue increased 4 percent to INR 4.70 billion.

NSE valuation and trading context

Atul was last at INR 6,196.50 on the NSE on October 19, 2026 at 3:29 p.m. IST. Its market capitalization was INR 182.2 billion, and its 52-week range was INR 5,560.50 to INR 7,180.00 as of October 19, 2026.