Company Overview

Oriental Aromatics Limited (OAL) is one of the largest Indian manufacturers of aroma chemicals, camphor, fragrances and flavours, with an approximate market capitalization of ₹17,884 Mn as of September 30, 2026. The company operates manufacturing plants in Bareilly (Uttar Pradesh), Vadodara (Gujarat), Mahad (Maharashtra), and Ambernath (Maharashtra), with R&D facilities in Mumbai and Vadodara.

Q2 FY27 Financial Performance (Consolidated)

Revenue & Profitability:

  • Revenue from operations: ₹3,182 Mn (17.3% YoY growth, 22.5% QoQ growth)
  • EBITDA: ₹253 Mn (47.1% YoY growth, 27.8% QoQ growth)
  • EBITDA margin: 7.95% (161 bps YoY improvement, 33 bps QoQ improvement)
  • Net profit: ₹58 Mn (significant improvement from ₹7 Mn in Q2 FY26)
  • PAT margin: 1.82% (156 bps YoY improvement)
  • Basic/diluted EPS: ₹1.72 per share

Other Financial Metrics:

  • Other income: ₹4 Mn (86.7% decrease YoY)
  • Depreciation: ₹78 Mn (flat YoY)
  • Finance cost: ₹86 Mn (11.3% decrease YoY)
  • PBT: ₹93 Mn (significant improvement from ₹27 Mn in Q2 FY26)
  • Tax: ₹35 Mn (75% increase YoY)

H1 FY27 Financial Performance (Consolidated)

Revenue & Profitability:

  • Revenue from operations: ₹5,780 Mn (16.3% YoY growth)
  • EBITDA: ₹451 Mn (27.8% YoY growth)
  • EBITDA margin: 7.80% (69 bps YoY improvement)
  • Net profit: ₹83 Mn (significant improvement from ₹12 Mn in H1 FY26)
  • PAT margin: 1.44% (120 bps YoY improvement)
  • Basic/diluted EPS: ₹2.47 per share

Other Financial Metrics:

  • Other income: ₹14 Mn (57.6% decrease YoY)
  • Depreciation: ₹155 Mn (flat YoY)
  • Finance cost: ₹164 Mn (7.9% decrease YoY)
  • PBT: ₹146 Mn (significant improvement from ₹53 Mn in H1 FY26)
  • Tax: ₹63 Mn (53.7% increase YoY)

Operational Highlights

Business Performance:

  • Achieved highest-ever quarterly revenue of ₹3,182 Mn in Q2 FY27
  • Entered technical, strategic and manufacturing arrangement with Unilever Industries Private Limited
  • Sales volumes increased 7% YoY in H1 FY27, with 4% QoQ growth in Q2
  • Production volumes increased 7% sequentially in Q2

Segment Performance:

  • Fragrances & Flavours division: 20% QoQ growth in sales volumes
  • Specialty Aroma Ingredients: 12% QoQ and 8% YoY sales volume growth in Q2; 10% YoY growth in H1
  • Camphor & Terpene Chemicals: 11% YoY sales volume growth in H1 FY27
  • Mahad plant: Q2 production increased 51% and sales volumes rose 74% QoQ; H1 production grew 36% YoY

Financial Position:

  • Net debt-to-equity: 0.64x as of September 30, 2026
  • H1 FY27 cash profit: ₹238 Mn (improved from ₹167 Mn in H1 FY26)

Historical Financial Context

FY26 Consolidated Performance:

  • Operational income: ₹10,308 Mn
  • EBITDA: ₹680 Mn
  • EBITDA margin: 6.60%
  • Net profit: ₹32 Mn
  • EPS: ₹0.98
  • ROCE: 4.85%
  • ROE: 0.48%

Capital Market Information (as of September 30, 2026):

  • Face value: ₹5.00
  • CMP: ₹531.40
  • 52-week high/low: ₹572.00/₹227.05
  • Average net turnover: ₹14.02 Mn
  • Market capitalization: ₹17,883.51 Mn
  • Equity shares outstanding: 33.65 Mn

Regulatory Disclosure

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