Aarti Industries Ltd

Aarti Industries Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Aarti Industries Ltd

₹ 628 1.04%
16 May - close price
aarti-industries.com BSE: 524208 NSE: AARTIIND
About

Aarti Industries Ltd, the flagship company of the Aarti group, manufacturing organic and inorganic chemicals at its major facilities in Vapi, Jhagadia, Dahej and Kutch, in Gujarat and in Tarapur in Maharashtra. The company has a strong market position in the NCB-based specialty chemicals segment.[1]

Key Points

Business Overview:[1]
Company manufactures speciality chemicals in Benzene based derivatives. Key value chains include Nitro Chloro Benzenes (NCBs), Di-Chloro Benzenes (DCBs), Phenylenediamines (PDAs), Nitro Toluene Value Chain and Equivalent Sulphuric Acid (E.S.A) & downstream.
Company has 16 manufacturing units, 2 R&D centres, 5 co-gen power plants, 100+ products, 700+ domestic customers, 400+ export customers in 60+ countries with major presence in the USA, Europe, Japan, etc.

Website BSE NSE
  • Market Cap ₹ 22,778 Cr.
  • Current Price ₹ 628
  • High / Low ₹ 770 / 438
  • Stock P/E 54.8
  • Book Value ₹ 146
  • Dividend Yield 0.40 %
  • ROCE 7.41 %
  • ROE 8.15 %
  • Face Value ₹ 5.00
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Pros

Cons

  • Stock is trading at 4.31 times its book value
  • The company has delivered a poor sales growth of 8.86% over past five years.
  • Tax rate seems low
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 12.0% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -3.39%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,209 1,317 1,256 2,076 1,756 1,610 1,685 1,668 1,656 1,414 1,454 1,732 1,773
949 1,003 1,001 1,186 1,417 1,326 1,418 1,379 1,403 1,214 1,221 1,473 1,490
Operating Profit 260 314 255 890 339 284 267 289 253 200 233 259 283
OPM % 22% 24% 20% 43% 19% 18% 16% 17% 15% 14% 16% 15% 16%
0 0 1 0 0 0 0 0 0 0 0 8 0
Interest 22 38 14 24 31 45 44 47 33 40 58 54 59
Depreciation 66 69 57 57 77 72 73 82 84 89 93 97 98
Profit before tax 173 207 184 809 231 167 150 160 136 71 82 116 126
Tax % 19% 20% 18% 10% 16% 19% 17% 15% -10% 1% -11% -7% -5%
139 165 150 725 194 136 124 137 149 70 91 124 132
EPS in Rs 3.91 4.55 4.14 20.01 5.34 3.75 3.42 3.77 4.11 1.93 2.51 3.42 3.64
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2,086 2,619 2,890 3,006 3,163 3,806 4,168 4,186 4,506 6,086 6,619 6,372
1,725 2,217 2,424 2,434 2,509 3,106 3,202 3,209 3,525 4,365 5,530 5,397
Operating Profit 361 402 466 572 654 700 965 977 982 1,720 1,089 975
OPM % 17% 15% 16% 19% 21% 18% 23% 23% 22% 28% 16% 15%
4 11 9 6 2 7 2 9 1 1 1 9
Interest 95 118 138 117 117 132 183 125 86 102 168 211
Depreciation 83 89 82 98 123 146 163 185 231 246 310 378
Profit before tax 187 206 255 363 416 429 622 676 665 1,372 611 395
Tax % 29% 26% 24% 26% 21% 19% 19% 19% 19% 14% 11% -5%
135 163 208 268 328 346 504 547 535 1,186 545 416
EPS in Rs 4.25 4.58 5.81 7.71 9.62 10.24 14.18 15.39 15.02 32.71 15.04 11.48
Dividend Payout % 24% 25% 24% 28% 3% 2% 19% 11% 10% 11% 17% 9%
Compounded Sales Growth
10 Years: 9%
5 Years: 9%
3 Years: 12%
TTM: -4%
Compounded Profit Growth
10 Years: 10%
5 Years: -3%
3 Years: -7%
TTM: -24%
Stock Price CAGR
10 Years: 34%
5 Years: 13%
3 Years: -7%
1 Year: 27%
Return on Equity
10 Years: 18%
5 Years: 16%
3 Years: 16%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 40 44 44 42 41 41 43 87 87 181 181 181
Reserves 717 826 972 1,096 1,321 1,538 2,587 2,892 3,416 4,335 4,739 5,109
849 1,039 1,202 1,292 1,564 2,083 2,401 2,098 2,857 2,587 2,907 3,242
571 760 719 538 573 730 826 1,256 1,282 748 754 1,084
Total Liabilities 2,176 2,670 2,938 2,966 3,499 4,391 5,858 6,332 7,642 7,851 8,581 9,616
674 826 967 1,246 1,697 1,998 2,147 2,468 3,593 3,595 4,861 5,826
CWIP 69 117 193 313 270 436 795 1,418 1,298 1,346 1,096 1,052
Investments 95 117 139 41 47 47 33 37 64 28 17 23
1,338 1,609 1,639 1,366 1,486 1,910 2,884 2,409 2,688 2,882 2,607 2,715
Total Assets 2,176 2,670 2,938 2,966 3,499 4,391 5,858 6,332 7,642 7,851 8,581 9,616

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
230 315 340 574 470 335 736 1,102 873 519 1,310 1,204
-229 -291 -298 -452 -529 -610 -797 -1,124 -1,322 -1,169 -1,330 -1,310
1 -22 -23 -128 58 279 833 -535 614 412 47 35
Net Cash Flow 2 2 19 -7 -0 4 772 -557 165 -239 27 -71

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 75 62 55 64 61 63 68 66 64 65 52 47
Inventory Days 150 147 123 108 136 144 152 174 190 143 115 109
Days Payable 74 90 55 67 71 69 55 72 117 53 45 49
Cash Conversion Cycle 152 119 123 105 125 138 165 168 137 155 122 107
Working Capital Days 120 99 91 96 93 103 99 93 63 120 95 82
ROCE % 20% 18% 19% 20% 19% 16% 18% 15% 13% 22% 10%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
44.90% 44.21% 44.21% 44.19% 44.19% 44.16% 44.15% 44.07% 43.65% 43.57% 43.54% 43.43%
11.90% 11.86% 12.27% 12.46% 11.82% 12.11% 12.05% 12.32% 12.17% 10.58% 10.83% 10.93%
13.62% 14.75% 14.54% 14.89% 15.07% 15.02% 14.54% 14.74% 14.83% 16.14% 15.82% 17.24%
0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.02% 0.03%
29.57% 29.18% 28.98% 28.45% 28.91% 28.69% 29.26% 28.87% 29.33% 29.72% 29.78% 28.38%
No. of Shareholders 2,13,7212,59,5742,82,9802,95,7633,40,3583,40,7693,76,5483,85,7513,97,9074,23,1404,18,1233,77,953

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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