Aarti Industries Ltd

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

Aarti Industries Ltd

₹ 466 -0.37%
15 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]
Aarti Industries is a diversified chemicals company engaged in specialty chemicals, agrochemicals and fertilizers, dyes, pigments and printing inks, pharmaceutical intermediates, polymer and additives, energy-related chemicals, and other specialty applications.

Website BSE NSE
  • Market Cap ₹ 16,906 Cr.
  • Current Price ₹ 466
  • High / Low ₹ 523 / 338
  • Stock P/E 41.0
  • Book Value ₹ 164
  • Dividend Yield 0.21 %
  • ROCE 6.85 %
  • ROE 7.13 %
  • Face Value ₹ 5.00
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Pros

Cons

  • Stock is trading at 2.84 times its book value
  • Tax rate seems low
  • Company has a low return on equity of 7.11% over last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 9.43% of profits over last 3 years
  • Debtor days have increased from 50.1 to 61.8 days.

* 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

Commodities Chemicals Chemicals & Petrochemicals Specialty Chemicals

Part of BSE 500 Nifty 500 Nifty Smallcap 100 BSE Commodities BSE 250 SmallCap Index

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,656 1,414 1,454 1,732 1,773 1,851 1,628 1,843 1,949 1,675 2,100 2,318 2,205
1,403 1,214 1,221 1,473 1,489 1,546 1,431 1,612 1,687 1,463 1,809 1,997 1,864
Operating Profit 253 200 233 259 284 305 197 231 262 212 291 321 341
OPM % 15% 14% 16% 15% 16% 16% 12% 13% 13% 13% 14% 14% 15%
0 0 0 8 -1 6 7 5 3 4 22 -13 1
Interest 33 40 58 54 59 64 62 85 64 60 100 69 112
Depreciation 84 89 93 97 98 102 108 111 113 114 120 121 119
Profit before tax 136 71 82 116 126 145 34 40 88 42 93 118 111
Tax % -10% 1% -11% -7% -5% 6% -53% -15% -9% -2% -14% -13% -23%
149 70 91 124 132 137 52 46 96 43 106 133 137
EPS in Rs 4.11 1.93 2.51 3.42 3.64 3.78 1.43 1.27 2.65 1.19 2.92 3.67 3.78
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,890 3,006 3,163 3,806 4,168 4,186 4,506 6,086 6,619 6,371 7,271 8,286
2,424 2,434 2,509 3,106 3,202 3,209 3,525 4,365 5,530 5,393 6,271 7,119
Operating Profit 466 572 654 700 965 977 982 1,720 1,089 978 1,000 1,167
OPM % 16% 19% 21% 18% 23% 23% 22% 28% 16% 15% 14% 14%
9 6 2 7 2 9 1 1 1 7 16 12
Interest 138 117 117 132 183 125 86 102 168 211 275 340
Depreciation 82 98 123 146 163 185 231 246 310 378 434 474
Profit before tax 255 363 416 429 622 676 665 1,372 611 395 307 365
Tax % 24% 26% 21% 19% 19% 19% 19% 14% 11% -5% -8% -15%
208 268 328 346 504 547 535 1,186 545 416 331 419
EPS in Rs 5.81 7.71 9.62 10.24 14.18 15.39 15.02 32.71 15.04 11.49 9.13 11.56
Dividend Payout % 24% 28% 3% 2% 19% 11% 10% 11% 17% 9% 11% 9%
Compounded Sales Growth
10 Years: 11%
5 Years: 13%
3 Years: 8%
TTM: 14%
Compounded Profit Growth
10 Years: 5%
5 Years: -5%
3 Years: -9%
TTM: 25%
Stock Price CAGR
10 Years: 15%
5 Years: -10%
3 Years: -2%
1 Year: -2%
Return on Equity
10 Years: 14%
5 Years: 12%
3 Years: 7%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 44 42 41 41 43 87 87 181 181 181 181 181
Reserves 972 1,096 1,321 1,538 2,587 2,892 3,416 4,335 4,739 5,109 5,424 5,774
1,202 1,292 1,564 2,083 2,401 2,098 2,857 2,587 2,907 3,623 3,848 4,966
719 538 573 730 826 1,256 1,282 748 754 1,203 1,661 2,378
Total Liabilities 2,938 2,966 3,499 4,391 5,858 6,332 7,642 7,851 8,581 10,115 11,114 13,299
967 1,246 1,697 1,998 2,147 2,468 3,593 3,595 4,861 5,649 6,377 6,556
CWIP 193 313 270 436 795 1,418 1,298 1,346 1,096 1,229 1,454 2,030
Investments 139 41 47 47 33 37 64 28 17 23 48 132
1,639 1,366 1,486 1,910 2,884 2,409 2,688 2,882 2,607 3,214 3,235 4,581
Total Assets 2,938 2,966 3,499 4,391 5,858 6,332 7,642 7,851 8,581 10,115 11,114 13,299

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
340 574 470 335 736 1,102 873 519 1,319 1,210 1,242 775
-298 -452 -529 -610 -797 -1,124 -1,322 -1,169 -1,330 -1,369 -1,398 -1,141
-23 -128 58 279 833 -535 614 412 38 420 -73 745
Net Cash Flow 19 -7 -0 4 772 -557 165 -239 27 261 -229 379
Free Cash Flow 45 124 -60 -279 -55 -23 -442 -646 -8 -96 -137 -346
CFO/OP 85% 117% 87% 62% 90% 130% 99% 44% 129% 132% 123% 67%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 55 64 61 63 68 66 64 65 52 49 39 62
Inventory Days 123 108 136 144 152 174 190 143 115 121 126 118
Days Payable 55 67 71 69 55 72 117 53 24 76 107 126
Cash Conversion Cycle 123 105 125 138 165 168 137 155 143 94 58 54
Working Capital Days 10 10 -4 6 -14 -14 -36 22 -29 -36 -44 -64
ROCE % 19% 20% 19% 16% 18% 15% 13% 22% 10% 7% 6% 7%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Nitro Chloro Benzene (NCB) Installed Capacity
KTPA

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Number of Manufacturing Plants
units
Nitro Chloro Benzene (NCB) Production Volume
KT
Ethylation Installed Capacity
KTPA
Nitro Toluene (NT) Installed Capacity
KTPA
Total Number of Products
units
Mono Methyl Aniline (MMA) Installed Capacity
KTPA
Capacity Utilization - NCB
%
Di Chloro Benzene (DCB) Production Volume
KT
Mono Methyl Aniline (MMA) Production Volume
KT
Capacity Utilization - MMA
%
Global Market Share in Core Products
%

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
43.65% 43.57% 43.54% 43.43% 43.24% 42.61% 42.35% 42.24% 42.24% 42.18% 42.14% 42.09%
12.17% 10.58% 10.83% 10.93% 10.61% 9.68% 7.25% 6.29% 6.44% 6.40% 6.70% 7.38%
14.83% 16.14% 15.82% 17.24% 18.55% 18.11% 17.93% 19.96% 20.38% 18.21% 18.22% 20.12%
0.01% 0.01% 0.02% 0.03% 0.03% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
29.33% 29.72% 29.78% 28.38% 27.58% 29.58% 32.46% 31.48% 30.92% 33.20% 32.94% 30.39%
No. of Shareholders 3,97,9074,23,1404,18,1233,77,9533,49,4153,94,1544,50,5884,39,2274,25,3994,28,9314,18,4923,84,210

* 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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