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Oriental Aromatics Ltd.
(OAL)
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Rating:48Neutral
Price Target:
₹534.00
▲(43.63% Upside)
Action:Reiterated
Date:08/29/26
The score is held back primarily by weak financial performance—sharp margin compression, highly volatile earnings, and recurring negative operating/free cash flow alongside rising leverage. Technicals are constructive with a strong uptrend, but overbought signals increase near-term downside risk. Valuation remains a key headwind due to the extremely high P/E, only partially balanced by the high dividend yield.
Positive Factors
Positive Revenue Growth
The company has expanded revenue meaningfully over the past two reported years, indicating continued demand for its aroma and specialty chemical products. Sustained top-line growth can support scale benefits, broader customer penetration, and future recovery in profitability if margins stabilize.
Negative Factors
Severe Margin Compression
The sharp decline in gross and net margins shows that revenue growth is not translating efficiently into earnings. Persistently thin profitability leaves less room to absorb cost pressure, invest in growth, or withstand weaker pricing and mix, making earnings recovery dependent on meaningful operating improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive Revenue Growth
The company has expanded revenue meaningfully over the past two reported years, indicating continued demand for its aroma and specialty chemical products. Sustained top-line growth can support scale benefits, broader customer penetration, and future recovery in profitability if margins stabilize.
Read all positive factors
Oriental Aromatics Ltd. (OAL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹17.88B
Dividend Yield0.09%
Average Volume (3M)6.23K
Price to Earnings (P/E)336.8
Beta (1Y)0.97
Revenue Growth13.55%
EPS Growth-77.69%
CountryIN
Employees735
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)1.58
Shares Outstanding33,653,576
10 Day Avg. Volume3,615
30 Day Avg. Volume6,234
Financial Highlights & Ratios
PEG Ratio-2.69
Price to Book (P/B)1.21
Price to Sales (P/S)0.78
P/FCF Ratio-18.22
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Oriental Aromatics Ltd. Business Overview & Revenue Model
Company Description
Oriental Aromatics Limited, established in Mumbai, India, in 1955, is a leading manufacturer and supplier of terpene chemicals, camphor, and various specialty aroma ingredients. Operating as Camphor & Allied Products Limited until its rebranding i...
How the Company Makes Money
OAL makes money primarily by manufacturing and selling aroma and specialty chemical products to business customers (B2B). Its core revenue stream is product sales: customers (such as fragrance houses, flavor and fragrance ingredient blenders, and ...
Oriental Aromatics Ltd. Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.65B | 10.31B | 9.23B | 8.36B | 8.49B | 8.66B |
| Gross Profit | 1.03B | 1.02B | 1.30B | 1.52B | 1.62B | 1.89B |
| EBITDA | 727.41M | 775.92M | 966.65M | 534.64M | 543.09M | 969.36M |
| Net Income | 53.20M | 33.10M | 343.28M | 91.04M | 197.43M | 533.02M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 11.94B | 11.45B | 9.95B | 9.86B | 8.65B |
| Cash, Cash Equivalents and Short-Term Investments | 131.28M | 146.14M | 111.85M | 111.76M | 181.12M | 77.28M |
| Total Debt | 0.00 | 4.03B | 3.53B | 2.06B | 2.31B | 1.40B |
| Total Liabilities | -6.65B | 5.30B | 4.82B | 3.63B | 3.62B | 2.60B |
| Stockholders Equity | 6.65B | 6.65B | 6.63B | 6.32B | 6.25B | 6.05B |
Cash Flow | ||||||
| Free Cash Flow | -342.96M | -441.80M | -1.45B | 424.36M | -689.99M | -603.09M |
| Operating Cash Flow | -304.21M | -323.99M | -578.94M | 1.42B | -223.00M | -8.14M |
| Investing Cash Flow | -38.75M | -116.43M | -865.04M | -989.66M | -464.66M | -594.42M |
| Financing Cash Flow | 258.42M | 465.75M | 1.44B | -482.00M | 781.48M | 514.81M |
Oriental Aromatics Ltd. Technical Analysis
Positive
371.80
Price Trends
441.47
Positive
383.96
Positive
331.72
Positive
Market Momentum
28.86
Positive
60.06
Neutral
42.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:OAL, the sentiment is Positive. The current price of 371.8 is below the 20-day moving average (MA) of 531.49, below the 50-day MA of 441.47, and above the 200-day MA of 331.72, indicating a bullish trend. The MACD of 28.86 indicates Positive momentum. The RSI at 60.06 is Neutral, neither overbought nor oversold. The STOCH value of 42.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:OAL.
Oriental Aromatics Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Neutral | ₹157.06B | 36.42 | ― | 0.21% | 7.26% | 5.73% | |
68 Neutral | ₹82.71B | 23.82 | ― | 0.92% | 27.05% | 16.13% | |
63 Neutral | ₹68.60B | 32.43 | ― | 0.54% | 11.08% | 34.10% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹49.23B | 40.04 | ― | 0.16% | 5.47% | 24.88% | |
48 Neutral | ₹17.88B | 336.84 | ― | 0.09% | 13.55% | -77.69% | |
42 Neutral | ₹17.87B | 350.04 | ― | 0.47% | 8.40% | ― |
* General Sector Average
IN:OAL
Oriental Aromatics Ltd.
535.95
206.28
62.57%
IN:BALAMINES
Balaji Amines Limited
2,051.70
640.19
45.36%
IN:CAMLINFINE
Camlin Fine Sciences Limited
91.13
-102.32
-52.89%
IN:FINEORG
Fine Organic Industries Ltd.
5,127.90
505.29
10.93%
IN:GALAXYSURF
Galaxy Surfactants Ltd.
2,379.35
160.35
7.23%
IN:LXCHEM
Laxmi Organic Industries Ltd.
181.90
-32.48
-15.15%
Oriental Aromatics Ltd. Corporate Events
Oriental Aromatics Publishes AGM Notice in Line with SEBI Norms
Jul 25, 2026
Oriental Aromatics Limited notified stock exchanges that it has published newspaper advertisements regarding its 54th Annual General Meeting in leading English and Marathi dailies. The disclosure was made in line with SEBI Listing Regulations, und...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.