Acutaas profit more than doubled as operating margin reached 42.41%
Revenue grew 40.28% year on year while expenses rose 11.50%; the stock's initial gain was below its usual post-results move.
Filed 30 Apr 2026, 12:23 IST · Acutaas Chemicals Ltd (ACUTAAS)
Key takeaways
- Consolidated net profit rose 114.09% year on year as revenue growth of 40.28% outpaced expense growth of 11.50%.
- Operating margin expanded 14.87 percentage points year on year to 42.41%, marking a fourth straight quarterly increase.
- The stock gained 3.66% on results day, a smaller move than its 4.56% median reaction despite seven positive responses in the past eight results.
Price around the results
Profit growth accelerated in Q4FY26
Acutaas Chemicals reported consolidated net profit growth of 114.09% year on year and 26.42% sequentially. Revenue increased 40.28% year on year and 10.06% sequentially, while operating profit grew faster at 116.00% and 21.80%, respectively. The earnings conversion was partly supported by expenses growing only 11.50% year on year and 2.77% sequentially.
Operating leverage lifted the margin
Operating margin expanded 14.87 percentage points year on year and 4.09 percentage points sequentially because revenue growth outpaced expense growth in both comparisons. This was the fourth consecutive quarterly increase in margin, from 24.56% in Q1FY26 to 42.41% in Q4FY26. Other income contributed 6.04% of pre-tax profit, so it was a noticeable but not dominant part of earnings quality.
Higher tax and interest limited the conversion
The tax rate rose 2.65 percentage points year on year and 0.36 percentage points sequentially, which restrained net-profit growth relative to pre-tax profit. Interest expense also increased 98.33% year on year and 38.37% sequentially, although the earnings impact remained smaller than the operating-profit improvement. Acutaas's 42.41% operating margin was 19.03 percentage points above the 23.38% median for the 48 Healthcare peers that had reported.
The market reaction was positive but not unusual
The stock rose 3.66% on the results date and was up 9.27% after five sessions. That initial move was below the 4.56% median absolute reaction across the last eight results, but the direction was consistent with the stock's history: seven of those eight reactions were positive.
Q4FY26 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q4FY26 | Q3FY26 | QoQ | YoY |
|---|---|---|---|---|
| Revenue | ₹433 cr | ₹393 cr | +10.06% | +40.28% |
| Other income | ₹11 cr | ₹5 cr | +136.38% | +92.21% |
| Expenses | ₹249 cr | ₹243 cr | +2.77% | +11.50% |
| Operating profit | ₹184 cr | ₹151 cr | +21.80% | +116.00% |
| Operating margin (%) | 42.41% | 38.32% | — | — |
| Interest | ₹1 cr | ₹1 cr | +38.37% | +98.33% |
| Depreciation | ₹10 cr | ₹10 cr | -1.93% | +31.92% |
| Profit before tax | ₹184 cr | ₹145 cr | +27.05% | +121.90% |
| Tax | ₹50 cr | ₹38 cr | +28.79% | +146.12% |
| Net profit | ₹134 cr | ₹106 cr | +26.42% | +114.09% |
| EPS (₹) | ₹16.09 | ₹13.19 | +21.99% | +106.28% |
Operating margin of 42.41% compares with a Healthcare sector median of 23.38% across 48 peers that have reported Q4FY26.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | +3.66% | +4.41% |
| Next session | +6.95% | — |
| 5 sessions | +9.27% | +9.27% |
| 15 sessions | +17.93% | — |
| 30 sessions | +23.75% | — |
Volume on the results session was 5.14× its 20-day average.
What to watch
- Whether operating margin remains above 42.41% after four consecutive quarterly increases.
- Whether revenue growth continues to outpace expense growth after the year-on-year gap of 40.28% versus 11.50%.
- Whether other income stays near 6.04% of pre-tax profit and the tax rate remains close to 26.94%.