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Aarti Industries Ltd.

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aarti-industries.comBSE: 524208NSE: AARTIIND
Market Cap₹ 18,029 Cr.
Current Price
High / Low₹ 552 / 338
Stock P/E34.5
Book Value₹ 168
Price to Book2.43
Dividend Yield0.20 %
ROCE6.9 %
ROE7.3 %
Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2022 • Speciality Chemicals: 83.3% • Pharmaceuticals: 16.7%

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence
55%
View full sector analysis →

PROS

  • Latest quarter profit grew 227.3% YoY, showing strong momentum
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.54x)
  • Working capital cycle has improved - days down from -25 to -34
  • Company has a consistent dividend-paying track record
  • Stock looks reasonably valued - P/E of 34.5 is below its historical median

CONS

  • Receivables are growing faster than sales - a possible quality concern
  • Company has a low return on capital employed of 6.9%
  • Company has a low return on equity of 7.2% over last 3 years
  • Free cash flow has been persistently negative
  • Effective tax rate is unusually low at -15.6% - earnings may be flattered
  • Company has delivered a poor profit growth of -3.8% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsChemicals
Part ofNIFTY TOTAL MKTNIFTY 500NIFTY SMLCAP 250
S.No.Name
1.SOLARINDS22305.00101.35201838.070.05666.3788.983668.2070.2638.1627.91
2.PIDILITIND1572.5060.43160061.581.378835.101202.8645515.501112.7432.3826.28
3.SRF2515.0034.4974550.840.36758.8775.535033.2634.6314.2124.57
4.FLUOROCHEM4753.8084.9152220.490.06219.0019.021588.0023.979.5826.83
5.NAVINFLUOR8796.1557.1545131.390.17243.31107.671045.0844.0721.3934.17
6.GODREJIND1132.4532.4538146.700.00523.36-27.855448.0922.1610.6412.82
7.DEEPAKNTR1642.1028.5922397.100.46345.01207.362577.6036.3911.5820.96
8.AETHER1612.6591.0121404.360.0062.7533.45326.5627.4911.6531.47
9.ATUL6217.6523.0118305.850.48253.9391.851847.9525.0315.0521.41
10.AARTIIND497.0533.9518029.330.20155.00260.472387.0042.426.9516.00
11.DEEPAKFERT1358.7017.4917209.680.74490.04100.953256.2622.4712.1225.96
12.BASF3745.2525.2116211.550.67360.29162.224824.2624.5715.2310.46
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
1,4041,4501,7241,7691,8451,7171,7491,9921,6362,0852,2762,4392,241
1,2021,2171,4651,4861,5381,5171,5191,7261,4261,8011,9582,0962,081
Operating Profit202233259283307200230266210284318343160
OPM %14.39%16.07%15.02%16.00%16.64%11.65%13.15%13.35%12.84%13.62%13.97%14.06%7.14%
00805763523-1363
Interest405854596462856459996811282
Depreciation89939798102108110113114120121118124
Profit before Tax73821161261463741924288116119163
Tax %2.74%-10.98%-6.90%-4.76%5.48%-48.65%-14.63%-7.61%-4.76%-14.77%-12.93%-23.53%11.66%
Net Profit719112413213855479944101131147144
1.962.513.413.633.801.521.312.741.202.773.634.053.98

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
3,0503,6994,0253,9944,3176,0406,5656,3467,3028,4229,041
2,4423,0433,1083,0653,3824,3295,4775,3726,3097,3167,936
Operating Profit6086579179309351,7111,0889749931,1061,105
OPM %19.95%17.75%22.77%23.27%21.65%28.32%16.58%15.34%13.60%13.14%12.22%
3251121011317119
Interest11713117912286102166211275339361
Depreciation115136151173218244310377433473483
Profit before Tax3793925916466321,366613396316365486
Tax %19.03%19.35%18.57%18.97%18.75%13.45%10.97%-5.30%-7.47%-15.60%-7.61%
Net Profit3073164815235141,182546417340422523
EPS37.3538.9259.1030.0414.7432.6115.0611.519.3711.65—
Dividend Payout %2.68%2.57%19.81%11.65%10.18%10.73%16.61%8.69%10.67%8.59%—

COMPOUNDED SALES GROWTH

10 Years:
11%
5 Years:
14%
3 Years:
9%

COMPOUNDED PROFIT GROWTH

10 Years:
5%
5 Years:
-4%
3 Years:
-8%

STOCK PRICE CAGR

10 Years:
13%
5 Years:
-11%
3 Years:
-1%
1 Year:
30%

RETURN ON EQUITY

10 Years:
17%
5 Years:
13%
3 Years:
7%
Last Year:
7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2021

Jun 22

1:1

Bonus issue & Final Dividend & Audited Results

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital4141438787181181181181181
1,2691,4752,5172,8153,3254,3204,7405,1095,4285,777
1,5452,1112,5692,6243,0622,8013,1163,3193,7074,773
Trade Payables2953472653245843442277521,2301,691
191209233240455156274638352434
Total Liabilities3,3414,1825,6286,0897,5147,8028,53810,00010,89812,856
1,5671,8441,9792,3023,5113,6354,8245,6056,3306,355
Capital Work in Progress2674317951,4181,2981,2609891,0591,2762,030
62563337363121990189
5476877017819018991,0151,1511,3881,297
00000008958571,864
Cash & Bank2224797233406167194512293436
8781,1391,3221,3181,3611,8371,503759665685
Total Assets3,3414,1825,6286,0897,5147,8028,53810,00010,89812,856

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
4984078181,2219387511,3721,1591,229608
Cash from Investing-470-574-768-1,109-1,307-1,162-1,301-1,317-1,382-1,141
Cash from Financing57264839-52063541746421-74746
-32771-564173-23927263-227213

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
43.2442.6142.3542.2442.2442.1842.1442.0941.82
10.619.687.256.296.446.406.707.387.00
18.5518.1117.9219.9520.3718.2018.2120.1121.10
0.030.010.010.010.010.010.010.010.01
27.5729.5932.4731.4930.9433.2132.9530.4030.07

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-07
Press Release

2026-09-07 - Aarti Industries Limited has informed the Exchange regarding a press release dated September 07, 2026, titled "Aarti Industries Commissions Phase I of Zone IV, Unlocking New High-Value Manufacturing Opportunities".

2026-08-28
Copy of Newspaper Publication

2026-08-28 - Aarti Industries Limited has informed the Exchange about Copy of Newspaper Publication regarding dispatch to the Shareholders of Integrated Annual Report for the FY 2025-26 and Notice of 43rd AGM

2026-08-27
Record Date

2026-08-27 - Aarti Industries Limited has informed the Exchange that Record date for the purpose of Dividend is 14-Sep-2026.

2026-08-27
Updates

2026-08-27 - Aarti Industries Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report for the Financial Year 2025-26'.

2026-08-27
Shareholders meeting

2026-08-27 - Aarti Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 21, 2026

2026-08-24
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-24 - Aarti Industries Limited has informed the Exchange about Schedule of Analyst /Investor Meet.

2026-08-20
Copy of Newspaper Publication

2026-08-20 - Aarti Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-18
Copy of Newspaper Publication

2026-08-18 - Aarti Industries Limited has informed the Exchange about Copy of Newspaper Publication - Notice of Loss of Share Certificate.

2026-08-07
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - Aarti Industries Limited has informed the Exchange about Transcript

News

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