1 hr ago
Broker Resumes Acutaas Chemicals Coverage With Buy, ₹3,800 Target
A broker has started following Acutaas Chemicals again and recommends buying its shares.
The broker believes the company can grow strongly through FY30.
Its contract drug-making business is expected to be the biggest growth engine.
Sales of Daro-V are projected to increase significantly as the Nubeqa patient base expands.
New businesses involving electrolyte additives, semiconductor chemicals and electronic chemicals are also expected to contribute.
Four new pharma CDMO molecules could add meaningful sales by FY30.
The expected expiry of Apixaban’s patent in November 2026 is also seen as supportive for the older pharma business.
Based on these forecasts, the broker set a ₹3,800 target price.
The broker resumed coverage of Acutaas Chemicals with a Buy rating and a ₹3,800 target price versus a CMP of ₹3,377.35.
Acutaas’s CDMO business is forecast to grow at a 28% CAGR during FY26–30E.
Daro-volumes are projected to rise about threefold to roughly 160 tonnes by FY30E, generating about ₹1,700 crore in Daro-V revenue.
Specialty Chemicals revenue is estimated to increase from ₹160 crore in FY26 to ₹730 crore in FY30E, a 45% CAGR.
Overall revenue, EBITDA and PAT are expected to grow at CAGRs of 28%, 29% and 28%, respectively, over FY26–30E.
- Who
- Acutaas Chemicals and the broker that resumed coverage of the company.
- What
- The broker issued a Buy rating and ₹3,800 target price while forecasting strong earnings growth through FY30E.
- Where
- The articles do not specify a location.
- When
- The note was published on September 11, 2026, with forecasts covering FY26–30E.
- Why
- Growth is expected from the CDMO business, Daro-V, specialty chemicals, newer semiconductor and electrolyte businesses, four new CDMO molecules, and the anticipated November 2026 Apixaban patent expiry.
Key facts
- Rating
- Buy
- Target price
- ₹3,800
- Current market price
- ₹3,377.35
- CDMO revenue CAGR
- 28% over FY26–30E
- Daro-V revenue by FY30E
- About ₹1,700 crore
- Specialty Chemicals revenue
- ₹160 crore in FY26 to ₹730 crore in FY30E
- Overall growth forecast
- Revenue/EBITDA/PAT CAGR of 28%/29%/28% over FY26–30E
- Valuation basis
- 45x September 2028E EPS
Sources
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