Gem Aromatics Ltd is a young Indian specialty chemicals firm that deals with the booming aroma chemicals and essentials segment. The company, which was incorporated in October 1997, is dedicated to the production of high-value specialty ingredients applied in the personal care, pharmaceutical, oral care, nutraceutical, wellness, and cosmetic sectors. Further over the years, Gem Aromatics has gained a good experience in mint-based and clove-based products and ventured into eucalyptus oils and phenol derivatives. This article will provide complete information about Gem Aromatics Share Price 2026.
Gem Aromatics Limited Company Overview
Gem Aromatics Limited is a specialty ingredient producer that deals with the production of essential oils and aroma chemicals, along with value-added derivatives, to both local and global clients. Product portfolio of the company comprises almost 70 products which belong to various chemical families and thus, the end-use industries can be diversified. These components are very common in toothpaste formula, cosmetic, therapeutical product, nutraceutical solution, and wellness applications.
The model of business is designed on obtaining raw botanical ingredients, extracting and synthesizing them using chemicals, and distributing the standardized ingredients that satisfy the quality needs of the regulated markets. The company can also take advantage of the fact that India has a good agricultural foundation of mints and other related crops thus enjoying competitive sourcing opportunities.
| Company Details | Information |
| Company Name | Gem Aromatics Ltd |
| Incorporated | October 1997 |
| Industry | Specialty Chemicals |
| Products | Essential oils, aroma chemicals, derivatives |
| Applications | Oral care, cosmetics, pharma, wellness |
| Product Portfolio | ~70 products |
| Market Cap | ₹1,010 Cr |
| Current Price | ₹193 |
| Face Value | ₹2 |
Business Profile
Gem Aromatics is a company that has specialized in the production of specialty ingredients mainly through the processes of mint, clove, eucalyptus and Phenol based. The company has slowly shifted to value added derivatives that have high margins rather than the pure commodity essential oils. This transformation gives an opportunity to have more pricing power and relations with customers. Its products are used in a sector where fragrance, flavor, therapeutic and chemical purity are imperative. Menthol derivatives are used in toothpaste and mouthwash by oral care companies and also in the formulation of skincare and personal care products by cosmetic brands. These ingredients are also used in pharmaceutical and wellness industries in pain relievers as well as treatment products.
| Business Segments | Details |
| Core Products | Essential oils & aroma chemicals |
| Key Raw Materials | Mint, clove, eucalyptus |
| End Industries | Personal care, pharma, cosmetics |
| Product Categories | 4 major segments |
| Strategy | Shift toward value-added derivatives |
Gem Aromatics Current Share Price
Telegraphic Gem Aromatics Ltd is trading at approximately ₹201.79 a share, which is a constant fluctuation after the listing of its IPO in August 2025. Recently, the stock has fallen by 1.87 per cent compared to the last close of 168.65 and this reflects that the stock has weak short-term momentum despite its steady trading volumes. The valuation parameters of the company show that the company is moderately priced in relation to the peers in the specialty chemicals industry, with a price to earnings ratio of about 21.37 and a share of earnings (TTM) per share of ₹7.75 rupees. The market capitalization is nearly ₹865.78 crore, and the range of 52 weeks between ₹349.60 and ₹133.00 indicated sharp corrections after listing. The VWAP of the stock is about ₹166.14 and the company does not offer any dividend income to the stockholders at the moment.
| Metric | Value |
| Current Price | ₹201.75 |
| Previous Close | ₹168.65 |
| Change | -1.87% |
| Market Cap | ₹865.78 Cr |
| P/E Ratio | 21.37 |
| EPS (TTM) | ₹7.75 |
| 52W High / Low | ₹349.60 / ₹133.00 |
| VWAP | ₹166.14 |
| Dividend Yield | 0% |
Gem Aromatics IPO Price
Gem Aromatics issued its IPO during the period of August 19 and August 21, 2025, with a face value of 2, price band 309-325 per share. The public issue was done at around ₹451.25 crore in form of fresh issue and offer of sale. The minimum number of shares that an investor had to apply was 46 shares, which would mean an investment of approximately 14,950 at the lower band. The share was floated on August 26, 2025, at a small premium and opened at a price of ₹290 to ₹332. The share price subsequently corrected much although with excitement during the early days, this stock was dropped because of the challenge in operations and the sector as a whole.
| IPO Details | Information |
| IPO Dates | Aug 19–21, 2025 |
| Price Band | ₹309 – ₹325 |
| Issue Size | ₹451.25 Cr |
| Lot Size | 46 Shares |
| Listing Date | Aug 26, 2025 |
| Listing Price Range | ₹290 – ₹332 |
| Face Value | ₹2 |
Gem Aromatics Share Price NSE
Gem Aromatics is traded on the National Stock Exchange under the name GEMAROMA. Previous trading information indicated that the prices were close to 190 then dropped to the present price of ₹201.79. The trading on NSE indicates general industry poor performance and investor reluctance on the new companies that have been listed in the specialty chemical industry. The stock has been experiencing sustained selling pressure with almost 35% redemption over the last year is the highest point of the stock. NSE is trading steadily even though its sentiment is poor owing to its earnings uncertainty.
| NSE Details | Value |
| Exchange | NSE |
| Symbol | GEMAROMA |
| Earlier 2026 Price | ₹190.26 |
| Current Trend | Downward |
| 1-Year Performance | ~35% decline |
| Investor Sentiment | Cautious |
Gem Aromatics Share Price BSE
The price of Gem Aromatics follows the trend of its NSE performance which shows that it has an effective price discovery process among the exchanges. Recent transactions also reflect rates of around ₹201.79 without any high difference in arbitrage. Liquidity is also average with the trading turnover of about 0.17 crore on trading days. Stock shares have the same 52-week high and low balance of the two stock markets, which is a confirmation that valuation is the same.
| BSE Details | Value |
| Exchange | BSE |
| Current Price | ₹201.79 |
| Liquidity | Moderate |
| Daily Turnover | Up to ₹0.17 Cr |
| Price Difference vs NSE | Minimal |
| 52W Range | ₹349.60 / ₹133.00 |
Gem Aromatics Share Price Target 2030
Gem Aromatics has high long-term projections, which are subject to positive performance in case expansion strategies are implemented and favorable changes in the industry. Analysts project that the share value might reach ₹500- ₹620 in 2030 assuming revenue growth to 1,050-1,100 crores and expansion of EBITDA margin to 1618%. The growth prospects are associated with expansion of the product range beyond mint-based products, ordering of the Dahej production plant, and slow elimination of debt after the use of IPO funds. Such projections however are very reliant on the stability of the global demand and the increase of the operational efficiency.
| Year | Estimated Target Range |
| 2030 | ₹500 – ₹620 |
| Revenue Projection | ₹1,050–₹1,100 Cr |
| EBITDA Margin Goal | 16–18% |
| Growth Drivers | Capacity expansion, diversification |
| Key Risks | Tariffs, regulatory changes |
Why Gem Aromatics Share Fall?
The fall in share price of Gem Aromatics since the time of the listing has been caused by various operational and external factors. The stock has made a decrease of 14-49 per cent below IPO and is currently being traded below key moving averages which are indicating a bearish technical trend. Financial performance deteriorated through FY26 as reported net loss of 2.60 crore in Q2 and a decrease in revenue of 13.5 percent year on year. The US tariffs on mint derivatives were a strain to export-oriented products and GST revisions were a strain on domestic demand dynamics. Also, lower volumes of delivery and intense competition with other bigger chemical players added to the negative mood of investors.
| Key Reason | Impact |
| Q2 FY26 Net Loss | Profitability pressure |
| Revenue Decline | -13.5% YoY |
| US Tariffs | Export slowdown |
| GST Changes | Demand impact |
| Technical Trend | Below moving averages |
| Investor Participation | Lower volumes |
Gem Aromatics Ltd Market Position and Peer Comparison
In the specialty chemicals industry, Gem Aromatics is a small-cap niche player that has to deal with several significantly bigger firms like Deepak Nitrite, Aarti Industries, and BASF India. Whilst scale and diversified chemical holdings are advantages of peers, Gem Aromatics is specialized in aroma ingredients. The valuation multiples of the company are moderate in comparison with other huge chemical companies. Its ROE and ROCE are also competitive to a company of its size, showing that it is efficient in its use of its capital despite the unstable nature of its operations.
| Peer Comparison Snapshot | Gem Aromatics | Sector Median |
| Market Cap | ₹1,010 Cr | ₹782 Cr |
| P/E Ratio | 34.2 | 28.1 |
| ROCE | 19.4% | 15.4% |
| Dividend Yield | 0% | 0.33% |
| Quarterly Sales | ₹78.9 Cr | ₹144 Cr |
Gem Aromatics Ltd Quarterly Financial Performance
Recent quarterly reports demonstrate unstable financial performance in both terms of revenue and profitability. In FY26 quarters, the sales decreased because of export interruptions and variability of demand. The operating margins deteriorated strongly in some quarters and it was a sign of increased cost of inputs and low realization.
The quarter of December 2025 indicated a decrease in the profitability of the company, with the company registering a net loss. Increase in depreciation and finance costs created strain and lower operating profit margin influenced the overall earnings performance.
| Quarter | Sales (₹ Cr) | Operating Profit (₹ Cr) | Net Profit (₹ Cr) | OPM % |
| Jun 2024 | 92.67 | 14.21 | 8.59 | 15.3% |
| Sep 2024 | 112.22 | 15.35 | 9.74 | 13.7% |
| Mar 2025 | 202.22 | 44.63 | 29.12 | 22.1% |
| Sep 2025 | 89.53 | 3.05 | -2.58 | 3.4% |
| Dec 2025 | 78.90 | 7.02 | -4.99 | 8.9% |
Gem Aromatics Ltd Profit and Loss Performance
Gem Aromatics has been enjoying concepts of consistent revenue growth over the last couple of years, but the profitability has been low. The sales grew by ₹4 Crore to more than ₹504 Crore over the years between FY22 and FY25 backed by the product diversification and expansion of exports. The operating margins have been increasing slowly because the company has been launching more value derivatives. The escalating interest and depreciation expenses capped net profit growth, however. Latest trailing one year statistics reflect diminishing growth momentum.
| Financial Year | Sales (₹ Cr) | Operating Profit (₹ Cr) | Net Profit (₹ Cr) |
| FY22 | 314 | 49 | 31 |
| FY23 | 425 | 66 | 45 |
| FY24 | 452 | 78 | 50 |
| FY25 | 504 | 88 | 53 |
| TTM | 458 | 70 | 30 |
Gem Aromatics Ltd Balance Sheet Analysis
The balance sheet reflects a great growth in terms of investments in capacity and growth in working capital. There was a steep rise in fixed assets which represented the development of new facilities. During the expansion phases, borrowings increased but then decreased during the reduction phases since the funds could be used efficiently. The company is still investing in infrastructure to allow further growth as increasing liabilities and working capital intensity need to be checked.
| Balance Sheet Item | FY22 | FY25 | Sep 2025 |
| Total Assets | ₹240 Cr | ₹535 Cr | ₹658 Cr |
| Reserves | ₹136 Cr | ₹275 Cr | ₹445 Cr |
| Borrowings | ₹78 Cr | ₹225 Cr | ₹144 Cr |
| Fixed Assets | ₹36 Cr | ₹54 Cr | ₹217 Cr |
Gem Aromatics Ltd Cash Flow Position
Investment-oriented growth is indicated by the cash flow trends. Cash flow operation became negative in FY25 even though profits were made and this can be attributed to increased receivables and inventory build up. The cash flows of investing are negative due to capital expenditure and the financing flows financed expansion activities.
| Cash Flow (₹ Cr) | FY22 | FY23 | FY24 | FY25 |
| Operating Cash Flow | -5 | 15 | 40 | -25 |
| Investing Cash Flow | -15 | -18 | -50 | -92 |
| Financing Cash Flow | 18 | 6 | 15 | 103 |
| Net Cash Flow | -2 | 4 | 5 | -15 |
Gem Aromatics Ltd Key Financial Ratios
On the score of operational ratios, there is an increase in working capital pressure. The debtor days have risen considerably and are an indication of reduced collection of customers. The stocks also are high because of raw material stocking cycles prevalent in the essential oil companies. In spite of these, ROCE is still healthy with a value of about 19 with efficient utilization of capital.
| Ratio | FY22 | FY25 |
| Debtor Days | 46 | 102 |
| Inventory Days | 206 | 161 |
| Working Capital Days | 110 | 116 |
| Cash Conversion Cycle | 225 | 241 |
| ROCE | 25% | 19% |
Gem Aromatics Ltd Shareholding Pattern
Promoters will have majority ownership which is an indication of a long-term commitment to the business. The level of institutional involvement is not very high and the level of public shareholding rose slightly post-listing.
| Shareholding | Sep 2025 | Dec 2025 |
| Promoters | 55.06% | 55.06% |
| FIIs | 2.02% | 0.79% |
| DIIs | 6.56% | 4.59% |
| Public | 36.36% | 39.56% |
| Shareholders | 76,626 | 69,768 |
Growth Drivers and Opportunities
The diversification of the Indian specialty chemicals sector out of China is also still in the advantage zone of the global supply chain. Gem Aromatics can take advantage of this trend by increasing exports and enhancing value product products. An increase in the demand of natural ingredients in cosmetics and wellness items also facilitates long-term growth opportunities. The profitability could be enhanced in the long run by increasing the capacities, diversification of products and further integration in the controlled markets.
Risks and Challenges
Some of the operational risks which the company is exposed to are commodity prices, dependence on exports and high working capital requirements. The trends of growing debtor days and decline in margins in some quarters indicate problems of execution. No dividend payouts could make it less appealing to income-seeking investors as well.
Conclusion
Gem Aromatics Ltd is a developing yet expanding competitor in the specialty chemicals business of India. The firm has managed to develop a diversified product base and has recorded a stable increase in revenue in the past years. A high ROE and ROCE ratio indicates that it is operational whereas expansion investment indicates long-term aspiration. Nevertheless, the problem of short-term financial variability, increasing working capital pressure and changing profitability are still crucial issues. To investors, the company provides an opening to a niche aroma chemicals segment that has long-term growth potential, and it has risks associated with the small-cap manufacturing enterprises.
FAQs
The company manufactures essential oils, aroma chemicals, and specialty derivatives that are consumed in cosmetics, pharmaceutical products and personal care items.
The company is not paying dividends currently although it made some profits in the previous years.
Recent earnings were impacted by higher costs and export disruption and high depreciation and finance expenses.
Growth in value added derivatives and increased global demand of specialty ingredients help in the growth.
No, it is a small-cap specialty chemicals firm that is in a small niche aroma ingredient seller market.
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