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Speciality chemical stock, Acutaas Chemicals, has given stellar rewards to its investors, and it may not be done yet. Brokerage firm JM Financial sees further upside in the stock from the current levels. On Thursday, 10 September, Acutaas Chemicals share price ended 6.74% higher at ₹3,451.25 on the BSE, extending gains for the second consecutive session. According to JM Financial, the stock has a potential to rise to ₹3,800 in the next 12-months. This implies an upside of 10% from the current market price of ₹3,451.25. Acutaas Chemicals is a multibagger stock. Over the last one year, the stock has surged 137% on the BSE, compared to an 8% fall in the benchmark Sensex. On longer timeframes of two and three years, the stock has surged 383% and 419%, respectively, as per the BSE data. Acutaas Chemicals share price hit a 52-week high of ₹3,735 on 6 July this year after hitting a 52-week low of ₹1,290.05 on 1 October last year. Kotak Mahindra Trustee Company, SBI Mutual Fund, Axis Max Life Insurance, and Government Pension Fund Global are among the major non-promoter shareholders of the company. According to the shareholding pattern data on the BSE, Kotak Mahindra Trustee Company, a wholly-owned subsidiary of Kotak Mahindra Bank, held 28,89,380 shares, or 3.53% stake, in Acutaas Chemicals through Kotak Multicap Fund by the end of the June quarter of the financial year 2026-27 (Q1FY27). SBI Healthcare Opportunities Fund held 19,24,544 shares (2.35% stake), Axis Max Life Insurance Limited held 17,93,491 shares (2.19% stake), and Government Pension Fund Global held 29,01,687 shares (3.54% stake) in Acutaas Chemicals by the end of the June quarter. Foreign portfolio investors (FPIs) cumulatively held 1,76,90,137 shares, or 21.61% stake, in the company by the end of the June quarter of FY27. In a 9 September report, JM Financial said it had resumed coverage on Acutaas with a buy rating, pegging the 12-month target price at ₹3,800 based on 45 times September 2028E EPS (earning per share). JM Financial expects Acutaas to deliver sustained earnings growth, largely due to a strong 28% CAGR in the CDMO business over FY26–30E, and increased contribution from newer businesses such as electrolyte additives, semiconductors and electronic chemicals. "Our calculations suggest Daro-V volumes could grow nearly three times over FY26–30E to nearly 160MT by FY30E supported by the expanding Nubeqa patient base following successful outcomes of ARASTEP and DASL-HiCaP trial. This is expected to translate to Daro-V revenue of nearly ₹1,700 crore by FY30E, which would be the key growth driver in the CDMO business," said JM Financial. "We are also building in nearly 45% CAGR for Specialty Chemicals’ revenue - increasing from ₹160 crore in FY26 to ₹730 crore by FY30E - driven by the shift towards higher-value semiconductor chemicals and electrolyte additives. In Pharma Intermediates, we expect the four new CDMO molecules to scale up to nearly ₹320 crore by FY30E while Apixaban’s anticipated November 2026 patent expiry is expected to support growth in the legacy pharma business," JM Financial added. For Acutaas Chemicals, the brokerage firm estimates a revenue, EBITDA, and PAT CAGR of 28%, 29%, and 28%, respectively, over FY26–30E. The company's revenue from operations jumped 33% year-on-year (YoY) to ₹1,339.4 crore, while profit after tax (PAT) surged 122% YoY to ₹356.4 crore in FY26. EBITDA jumped 107% YoY to ₹480.4 crore, while EBITDA margin increased to 35.9% in FY26 from 23% in FY25, according to the company's annual report for FY26. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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