Aarti Industries Ltd

Aarti Industries Ltd

₹ 672 -0.29%
26 Feb - close price
About

Incorporated in 1984, Aarti Industries Ltd manufactures and deals in Speciality Chemicals and Pharmaceuticals[1]

Key Points

Business Overview:[1][2]
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 21+ manufacturing units, 100+ products, 700+ domestic customers, 400+ export customers in 60+ countries with major presence in the USA, Europe, Japan, etc.

  • Market Cap 24,373 Cr.
  • Current Price 672
  • High / Low 712 / 438
  • Stock P/E 56.2
  • Book Value 139
  • Dividend Yield 0.37 %
  • ROCE 10.4 %
  • ROE 11.6 %
  • Face Value 5.00

Pros

Cons

  • Tax rate seems low
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -3.79%

* 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,187 1,209 1,317 1,256 2,076 1,756 1,610 1,685 1,668 1,655 1,414 1,454 1,732
902 949 1,003 1,001 1,186 1,417 1,326 1,418 1,379 1,403 1,214 1,221 1,472
Operating Profit 285 260 314 255 890 339 284 267 289 252 200 233 260
OPM % 24% 22% 24% 20% 43% 19% 18% 16% 17% 15% 14% 16% 15%
0 0 0 1 0 0 0 0 0 0 0 0 8
Interest 17 22 38 14 24 31 45 44 47 33 40 58 54
Depreciation 59 66 69 57 57 77 72 73 82 84 89 93 97
Profit before tax 209 173 207 184 809 231 167 150 160 135 71 82 117
Tax % 19% 19% 20% 18% 10% 16% 19% 17% 15% -10% 1% -11% -6%
169 139 165 150 725 194 136 124 137 149 70 91 124
EPS in Rs 4.74 3.91 4.55 4.14 20.01 5.34 3.75 3.42 3.77 4.11 1.93 2.51 3.42
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,667 2,086 2,619 2,890 3,006 3,163 3,806 4,168 4,186 4,506 6,086 6,619 6,255
1,417 1,725 2,217 2,424 2,434 2,509 3,106 3,202 3,209 3,525 4,365 5,530 5,310
Operating Profit 249 361 402 466 572 654 700 965 977 982 1,720 1,089 945
OPM % 15% 17% 15% 16% 19% 21% 18% 23% 23% 22% 28% 16% 15%
4 4 11 9 6 2 7 2 9 1 1 1 8
Interest 72 95 118 138 117 117 132 183 125 86 102 168 185
Depreciation 55 83 89 82 98 123 146 163 185 231 246 310 363
Profit before tax 126 187 206 255 363 416 429 622 676 665 1,372 611 405
Tax % 29% 29% 26% 24% 26% 21% 19% 19% 19% 19% 14% 11%
104 135 163 208 268 328 346 504 547 535 1,186 545 434
EPS in Rs 3.26 4.25 4.58 5.81 7.71 9.62 10.24 14.18 15.39 15.02 32.71 15.04 11.97
Dividend Payout % 27% 24% 25% 24% 28% 3% 2% 19% 11% 10% 11% 17%
Compounded Sales Growth
10 Years: 12%
5 Years: 12%
3 Years: 17%
TTM: -7%
Compounded Profit Growth
10 Years: 15%
5 Years: 11%
3 Years: 1%
TTM: -26%
Stock Price CAGR
10 Years: 40%
5 Years: 17%
3 Years: 6%
1 Year: 25%
Return on Equity
10 Years: 20%
5 Years: 19%
3 Years: 19%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 40 40 44 44 42 41 41 43 87 87 181 181 181
Reserves 551 717 826 972 1,096 1,321 1,538 2,587 2,892 3,416 4,335 4,739 4,848
628 849 1,039 1,202 1,292 1,564 2,083 2,401 2,098 2,857 2,587 2,907 3,207
442 571 760 719 538 573 730 826 1,256 1,282 748 754 1,012
Total Liabilities 1,660 2,176 2,670 2,938 2,966 3,499 4,391 5,858 6,332 7,642 7,851 8,581 9,248
443 674 826 967 1,246 1,697 1,998 2,147 2,468 3,593 3,595 4,861 5,283
CWIP 54 69 117 193 313 270 436 795 1,418 1,298 1,346 1,096 1,057
Investments 94 95 117 139 41 47 47 33 37 64 28 17 24
1,068 1,338 1,609 1,639 1,366 1,486 1,910 2,884 2,409 2,688 2,882 2,607 2,884
Total Assets 1,660 2,176 2,670 2,938 2,966 3,499 4,391 5,858 6,332 7,642 7,851 8,581 9,248

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
121 230 315 340 574 470 335 736 1,102 873 519 1,310
-134 -229 -291 -298 -452 -529 -610 -797 -1,124 -1,322 -1,169 -1,330
11 1 -22 -23 -128 58 279 833 -535 614 412 47
Net Cash Flow -2 2 2 19 -7 -0 4 772 -557 165 -239 27

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 89 75 62 55 64 61 63 68 66 64 65 52
Inventory Days 108 150 147 123 108 136 144 152 174 190 143 115
Days Payable 59 74 90 55 67 71 69 55 72 117 53 45
Cash Conversion Cycle 138 152 119 123 105 125 138 165 168 137 155 122
Working Capital Days 124 120 99 91 96 93 103 99 93 63 120 95
ROCE % 17% 20% 18% 19% 20% 19% 16% 18% 15% 13% 22% 10%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
46.82% 44.90% 44.21% 44.21% 44.19% 44.19% 44.16% 44.15% 44.07% 43.65% 43.57% 43.54%
8.66% 11.90% 11.86% 12.27% 12.46% 11.82% 12.11% 12.05% 12.32% 12.17% 10.58% 10.83%
15.64% 13.62% 14.75% 14.54% 14.89% 15.07% 15.02% 14.54% 14.74% 14.83% 16.14% 15.82%
0.00% 0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.02%
28.87% 29.57% 29.18% 28.98% 28.45% 28.91% 28.69% 29.26% 28.87% 29.33% 29.72% 29.78%
No. of Shareholders 1,07,8862,13,7212,59,5742,82,9802,95,7633,40,3583,40,7693,76,5483,85,7513,97,9074,23,1404,18,123

* 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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Documents

Concalls