Aarti Drugs Ltd
Established in the year 1984 and a part of $1000 million Aarti Group of Industries, Aarti Drugs Ltd. (ADL) is engaged into manufacturing and selling Active Pharmaceutical Ingredients (API's), Pharma Intermediates, Specialty Chemicals as well as Formulations. [1]
It is exporting its API's and Speciality chemicals to over 100 countries across the globe. [2]
- Market Cap ₹ 3,862 Cr.
- Current Price ₹ 420
- High / Low ₹ 635 / 312
- Stock P/E 23.0
- Book Value ₹ 149
- Dividend Yield 0.24 %
- ROCE 12.9 %
- ROE 12.7 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 2.82 times its book value
- The company has delivered a poor sales growth of 5.74% over past five years.
- Company has a low return on equity of 13.8% over last 3 years.
- Company might be capitalizing the interest cost
- Dividend payout has been low at 5.45% of profits over last 3 years
- Promoter holding has decreased over last 3 years: -4.35%
* 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: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs
Part of BSE Allcap BSE SmallCap BSE Healthcare Nifty Total Market Nifty Microcap 250
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
501 | 1,097 | 1,140 | 1,195 | 1,244 | 1,561 | 1,806 | 2,155 | 2,489 | 2,716 | 2,529 | 2,387 | |
432 | 925 | 960 | 1,005 | 1,042 | 1,350 | 1,541 | 1,714 | 2,156 | 2,407 | 2,208 | 2,100 | |
Operating Profit | 69 | 172 | 180 | 190 | 202 | 211 | 266 | 440 | 333 | 309 | 321 | 287 |
OPM % | 14% | 16% | 16% | 16% | 16% | 14% | 15% | 20% | 13% | 11% | 13% | 12% |
0 | 1 | 0 | 4 | 1 | 6 | 6 | 5 | 11 | 2 | 4 | 16 | |
Interest | 17 | 42 | 48 | 40 | 38 | 44 | 37 | 26 | 24 | 37 | 38 | 36 |
Depreciation | 19 | 31 | 37 | 38 | 40 | 43 | 49 | 50 | 50 | 50 | 51 | 56 |
Profit before tax | 33 | 100 | 95 | 116 | 125 | 131 | 185 | 369 | 270 | 224 | 236 | 212 |
Tax % | 29% | 23% | 28% | 29% | 34% | 32% | 24% | 24% | 24% | 26% | 27% | 21% |
24 | 77 | 69 | 82 | 82 | 90 | 141 | 280 | 205 | 166 | 172 | 168 | |
EPS in Rs | 2.46 | 7.97 | 7.09 | 8.57 | 8.73 | 9.52 | 15.17 | 30.09 | 22.14 | 17.96 | 18.65 | 18.29 |
Dividend Payout % | 25% | 41% | 24% | 3% | 3% | 3% | 3% | 8% | 5% | 6% | 5% | 5% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 6% |
3 Years: | -1% |
TTM: | -6% |
Compounded Profit Growth | |
---|---|
10 Years: | 8% |
5 Years: | 4% |
3 Years: | -6% |
TTM: | -2% |
Stock Price CAGR | |
---|---|
10 Years: | 9% |
5 Years: | 17% |
3 Years: | -2% |
1 Year: | -12% |
Return on Equity | |
---|---|
10 Years: | 19% |
5 Years: | 18% |
3 Years: | 14% |
Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 12 | 24 | 24 | 24 | 24 | 24 | 23 | 93 | 93 | 93 | 92 | 91 |
Reserves | 151 | 284 | 333 | 376 | 432 | 520 | 629 | 820 | 944 | 1,100 | 1,190 | 1,278 |
267 | 448 | 483 | 480 | 546 | 507 | 389 | 351 | 543 | 609 | 564 | 615 | |
93 | 248 | 261 | 311 | 388 | 405 | 535 | 502 | 629 | 620 | 587 | 591 | |
Total Liabilities | 523 | 1,004 | 1,102 | 1,191 | 1,389 | 1,455 | 1,576 | 1,766 | 2,208 | 2,421 | 2,432 | 2,575 |
248 | 448 | 493 | 581 | 602 | 625 | 644 | 665 | 690 | 676 | 811 | 866 | |
CWIP | 10 | 16 | 34 | 14 | 28 | 33 | 12 | 19 | 77 | 210 | 261 | 330 |
Investments | 5 | 5 | 5 | 12 | 11 | 12 | 13 | 17 | 19 | 19 | 20 | 22 |
260 | 534 | 570 | 584 | 748 | 785 | 907 | 1,064 | 1,422 | 1,516 | 1,340 | 1,356 | |
Total Assets | 523 | 1,004 | 1,102 | 1,191 | 1,389 | 1,455 | 1,576 | 1,766 | 2,208 | 2,421 | 2,432 | 2,575 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
21 | 105 | 133 | 175 | 70 | 143 | 251 | 155 | 70 | 133 | 359 | 245 | |
-76 | -107 | -99 | -107 | -74 | -62 | -33 | -72 | -150 | -164 | -224 | -165 | |
53 | 1 | -33 | -68 | 4 | -80 | -215 | -81 | 92 | 17 | -136 | -82 | |
Net Cash Flow | -3 | -1 | 1 | -0 | 0 | 1 | 2 | 2 | 13 | -14 | -1 | -2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 88 | 105 | 106 | 91 | 110 | 107 | 99 | 94 | 110 | 116 | 102 | 115 |
Inventory Days | 103 | 82 | 86 | 100 | 132 | 86 | 102 | 117 | 115 | 101 | 107 | 112 |
Days Payable | 73 | 83 | 90 | 94 | 123 | 85 | 104 | 93 | 103 | 94 | 94 | 98 |
Cash Conversion Cycle | 118 | 104 | 103 | 97 | 119 | 109 | 97 | 118 | 123 | 123 | 115 | 128 |
Working Capital Days | 134 | 98 | 102 | 97 | 122 | 105 | 87 | 110 | 122 | 126 | 116 | 126 |
ROCE % | 13% | 18% | 18% | 17% | 17% | 21% | 34% | 21% | 15% | 15% | 13% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
1m - Of Conference Call on the financial results for the quarter and year ended March 31, 2025
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Disclosure Under Regulation 30 - Ad-Interim Order By The Court
18h - Bombay HC grants interim relief on Rs. 230.70 Cr IGST demand; legal challenge ongoing by Aarti Drugs.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
24h - Q4 FY25 revenue Rs.679 Cr (+9% YoY); FDA lifts import alert; invests in 24.4 MW solar power project.
- Announcement under Regulation 30 (LODR)-Investor Presentation 24h
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Board Meeting Outcome for Financial Results For The Quarter And Year Ended March 31 2025 And Appointment Of Cost Auditor
1d - Aarti Drugs reports audited FY25 financial results; profit and re-appoints cost auditor for FY26.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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May 2025TranscriptNotesPPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Sep 2024TranscriptNotesPPT
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Jul 2023Transcript PPT REC
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Oct 2022Transcript PPT
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Nov 2021Transcript PPT
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Aug 2021TranscriptPPT
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Jul 2021TranscriptNotesPPT
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Jan 2021Transcript PPT
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Nov 2020Transcript PPT
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Aug 2020TranscriptNotesPPT
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Jun 2020TranscriptNotesPPT
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May 2020TranscriptPPT
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May 2019TranscriptNotesPPT
Market Leadership
The company is a leading global producer of 50+ API molecules across categories like antibiotics, antiprotozoal, anti-inflammatory, anti-diabetic, and anti-fungal. It is the largest manufacturer of Fluoroquinolones, Tinidazole, Metronidazole Benzoate, Celecoxib, Nimesulide, and Ketoconazole worldwide, and among the top producers of Metformin globally. [1] [2]