Aarti Industries Ltd

Aarti Industries is engaged in manufacturing and dealing in Speciality Chemicals, Pharmaceuticals and Home & Personal Care intermediates.

Pros:
Company has good consistent profit growth of 27.57% over 5 years
Cons:
Promoter's stake has decreased

Peer Comparison Sector: Chemicals // Industry: Chemicals

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
710 770 834 792 888 990 1,029 1,078 1,300 1,268 1,211 1,086
559 620 682 653 728 812 849 891 1,057 1,021 975 849
Operating Profit 151 150 153 138 160 178 180 188 242 247 237 237
OPM % 21% 20% 18% 17% 18% 18% 18% 17% 19% 19% 20% 22%
Other Income 0 1 1 0 0 1 1 3 0 0 1 4
Interest 29 31 30 29 31 34 36 46 51 42 41 30
Depreciation 28 29 31 32 33 34 37 38 39 41 42 40
Profit before tax 94 91 92 78 96 111 108 107 152 164 154 171
Tax % 20% 19% 19% 19% 18% 19% 22% 17% 19% 19% 19% 20%
Net Profit 76 74 74 63 79 90 85 89 123 133 124 137
EPS in Rs 4.44 4.37 4.40 3.74 4.65 5.34 5.07 5.34 7.36 7.94 7.40 7.71
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
877 1,416 1,276 1,427 1,667 2,086 2,619 2,853 2,934 3,050 3,699 4,548 4,865
762 1,183 1,075 1,233 1,422 1,730 2,223 2,396 2,403 2,442 3,043 3,631 3,902
Operating Profit 115 234 201 194 245 356 395 456 530 608 657 917 963
OPM % 13% 16% 16% 14% 15% 17% 15% 16% 18% 20% 18% 20% 20%
Other Income 5 9 3 4 3 4 10 5 10 3 2 5 5
Interest 39 89 52 56 72 95 118 137 116 117 131 179 165
Depreciation 28 39 45 48 54 82 87 79 93 115 136 151 162
Profit before tax 53 114 107 94 122 184 201 246 331 379 392 591 641
Tax % 31% 26% 35% 29% 29% 29% 26% 24% 24% 19% 19% 19%
Net Profit 37 84 70 67 87 131 149 188 252 307 316 481 517
EPS in Rs 2.33 5.40 4.24 4.04 5.10 7.72 7.79 9.77 14.74 18.17 18.93 27.02 30.41
Dividend Payout % 30% 26% 27% 29% 32% 24% 27% 26% 28% 3% 3% 20%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.38%
5 Years:11.67%
3 Years:15.74%
TTM:22.06%
Compounded Profit Growth
10 Years:19.05%
5 Years:27.57%
3 Years:23.96%
TTM:50.98%
Stock Price CAGR
10 Years:40.72%
5 Years:43.32%
3 Years:30.52%
1 Year:25.22%
Return on Equity
10 Years:22.39%
5 Years:23.70%
3 Years:23.70%
Last Year:23.56%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
36 36 38 38 40 40 44 44 42 41 41 43
Reserves 246 303 360 405 473 632 734 864 1,052 1,269 1,475 2,517
Borrowings 429 483 436 526 625 846 1,037 1,201 1,275 1,545 2,047 2,366
198 224 326 354 432 558 751 711 468 487 622 711
Total Liabilities 910 1,046 1,161 1,323 1,570 2,075 2,567 2,820 2,837 3,343 4,183 5,637
280 367 382 392 433 664 793 936 1,170 1,567 1,844 1,979
CWIP 34 9 9 18 54 62 113 188 307 267 431 795
Investments 26 15 15 19 21 19 32 63 56 62 56 33
570 656 755 894 1,061 1,330 1,629 1,632 1,304 1,448 1,852 2,830
Total Assets 910 1,046 1,161 1,323 1,570 2,075 2,567 2,820 2,837 3,343 4,183 5,637

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-2 149 176 41 119 217 292 357 550 411 312 700
-46 -66 -60 -67 -131 -219 -271 -323 -424 -470 -574 -768
48 -87 -111 22 12 3 -19 -20 -128 57 264 839
Net Cash Flow 0 -4 5 -4 1 1 3 14 -2 -3 2 771

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 14% 26% 19% 16% 18% 21% 19% 19% 20% 19% 16% 18%
Debtor Days 83 69 73 85 89 75 65 60 65 66 69 65
Inventory Turnover 5.09 7.11 5.49 5.12 5.38 5.29 4.92 4.97 5.76 5.98 6.00 6.55