Anupam Rasayan (ANURAS)

Cyclical

FairStock Score: 24/100 — RISKY

Score breakdown: P/E: 0/3 · ROCE: 0/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

Current Price₹1,209.4
Market Cap₹13,769 Cr
P/E Ratio78.74
ROCE7.33%
ROE5.76%
Dividend Yield0.12%
Profit Growth7.79%
Debt/Equity0.41
Sales Growth4.48%
Free Cash Flow₹-360 Cr
Promoter Holding59.07%
52-Week Range₹1,053.6 — ₹1,415
SectorChemicals & Petrochemicals
Book Value₹293.12

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I'm wearing Graham's glasses and Buffett's patience, so Anupam Rasayan gives me pause. The specialty chemicals business may have switching costs, but the numbers don't yet show a wide moat. At ₹1,209.40, market cap ₹13,769 Cr, P/E 78.74 and P/B 4.13, I'm paying a premium for a company earning ROE of 5.76% and ROCE of 7.33%. Book value is ₹293.12, so price is about four times book. Debt/equity 0.41 is manageable, and promoters own 59.07%, aligning interests. Piotroski F-Score 7/9 suggests some financial progress, but free cash flow is -₹360 Cr—a red flag. Growth is mixed: 5-year revenue CAGR 22.12%, yet latest sales growth 4.48% and profit growth 7.79% are modest. The latest quarter had sales ₹512 Cr and net profit ₹61 Cr; annualized, earnings don't justify the multiple. Dividend yield 0.12% offers little comfort. PEG 1.56 isn't absurd if future growth materializes, but FairStock 24/100 labels it risky. The specialty chemicals industry can be cyclical, and a 78.74 P/E leaves no room for disappointment. With current growth so modest, the multiple looks rich unless growth reaccelerates. Debt/equity 0.41 is not alarming, but negative free cash flow means expansion is consuming cash. I'd want to see free cash flow turn positive and ROCE move toward double digits before paying up. At 52-week range ₹1,047.90–₹1,415.00, sentiment is not extreme. To be a Buffett-style compounder, it must lift ROCE, convert profits to cash, and show durable growth. Until then, I'd wait for a margin of safety. A great chemical franchise might be building, but the price already discounts it.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer