Deven Choksey's report highlights Vinati Organics' strong Q2 FY26 performance. Despite a slight 0.6% YoY revenue dip to INR 5,502 Mn, gross profit surged 22.1% YoY to INR 3,068 Mn, boosting gross margins significantly. EBITDA climbed 25.1% YoY to INR 1,673 Mn, leading to a 10.1% YoY net profit increase to INR 1,149 Mn. The analyst reiterates an 'ACCUMULATE' rating with a target price of INR 1,750 based on Sept'27 estimates.