MarketFriction

Aarti Drugs Ltd

NSE AARTIDRUGS · BSE 524348 · Pharmaceuticals
₹421.00 -2.30%
NSE close2026-10-01
52 week range318.95 - 534.00
Market cap₹3,912 Cr.
P/E20.3
Price band 20% Delivery 48.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales642606620555598557677591653602720703
Expenses565536534490531495583516569547624605
Operating Profit767086656762937484559698
OPM %12%12%14%12%11%11%14%13%13%9%13%14%
Other Income121111220011-1
Interest889999998989
Depreciation131314131414151516181818
Profit before tax565264444651715160297069
Tax %30%29%26%24%24%27%12%-6%25%-40%21%28%
Net Profit403747333537635445415550
EPS in Rs4.313.995.153.623.844.066.895.914.964.446.055.50
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,1401,1951,2441,5611,8062,1552,4892,7162,5292,3872,5652,678
Expenses9601,0051,0421,3501,5411,7142,1562,4072,2082,0972,2542,344
Operating Profit180190202211266440333309321290312333
OPM %16%16%16%14%15%20%13%11%13%12%12%12%
Other Income-04166511241621
Interest484038443726243738393634
Depreciation373840434950505051566771
Profit before tax95116125131185369270224236212211229
Tax %28%29%34%32%24%24%24%26%27%21%8%
Net Profit69828290141280205166172168195191
EPS in Rs7.098.578.739.5215.1730.0922.1417.9618.6518.4221.3620.95
Dividend Payout %24%3%3%3%3%8%5%6%5%5%9%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth8%4%-2%11%
Compounded Profit Growth11%-7%5%2%
Stock Price CAGR11%-7%-8%-11%
Return on Equity18%15%13%13%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital242424242423939393929191
Reserves2843333764325206298209441,1001,1901,2781,458
Borrowings448483480546507389351543609564615577
Other Liabilities248261311388405535502629620587591690
Total Liabilities1,0041,1021,1911,3891,4551,5761,7662,2082,4212,4322,5752,815
Fixed Assets4484935816026256446656906768118661,086
CWIP1634142833121977210261330214
Investments5512111213171919202227
Other Assets5345705847487859071,0641,4221,5161,3401,3561,488
Total Assets1,0041,1021,1911,3891,4551,5761,7662,2082,4212,4322,5752,815
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1051331757014325115570133359245254
Cash from Investing Activity-107-99-107-74-62-33-72-150-164-224-165-173
Cash from Financing Activity1-33-684-80-215-819217-136-82-77
Net Cash Flow-11-0012213-14-1-23
Free Cash Flow-23468-58021478-82-311336780
CFO/OP69%85%103%47%82%110%57%46%62%131%103%80%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days105106911101079994110116102115118
Inventory Days828610013286102117115101107114112
Days Payable83909412385104931039494100109
Cash Conversion Cycle1041039711910997118123123115129121
Working Capital Days141922334454776372747676
ROCE %18%18%17%17%21%34%21%15%15%13%12%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters58.57%57.47%57.13%55.67%55.64%55.38%55.48%55.23%54.72%55.03%55.03%54.43%
FIIs2.33%2.10%2.56%2.95%2.50%2.28%2.25%2.26%2.68%2.15%1.57%1.52%
DIIs5.32%5.26%5.99%7.35%7.83%8.77%9.70%9.94%9.90%10.12%10.22%10.29%
Public33.78%35.16%34.30%34.01%34.01%33.58%32.57%32.58%32.70%32.71%33.19%33.76%
No. of Shareholders1,67,4461,70,4141,57,5471,50,2181,90,2811,76,0061,69,7611,60,2601,52,2521,48,3631,44,9461,43,476

Fundamentals

Market Cap₹ 3,912 Cr.
Current Price₹ 429
Stock P/E20.3
Book Value₹ 170
ROCE12.0 %
ROE13.4 %
Dividend Yield0.47 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)11%
Compounded Profit Growth (TTM)2%
Consolidated figures.
Valuation
Market capRs 3,842 Cr
Enterprise valueRs 4,410 Cr
P/E (TTM)20.10x
Price to book2.48x
Price to sales1.44x
EV / EBITDA13.20x
EV / EBIT16.74x
EV / sales1.65x
Price to cash flow15.16x
Earnings yield4.98%
Dividend yield0.47%
P/E, 3-year average18.91x
P/B, 3-year average2.42x
P/E, 5-year average18.98x
P/B, 5-year average2.75x
Profitability
Operating margin (excl. other income)12.15%
Operating margin (incl. other income)12.25%
EBITDA margin12.48%
Pre-tax margin8.55%
Net profit margin7.14%
Net margin, latest quarter7.14%
ROE13.36%
ROCE12.03%
ROA7.23%
ROE, 3-year average13.30%
ROCE, 3-year average13.37%
ROA, 3-year average7.00%
ROE, 5-year average15.17%
ROCE, 5-year average15.25%
ROA, 5-year average7.70%
ROIC (approx.)11.50%
Tax rate7.57%
Other income / net worth0.15%
Growth
Sales growth (latest year)7.47%
Profit growth (latest year)15.91%
Sales CAGR, 3 years-1.89%
Sales CAGR, 5 years3.55%
Profit CAGR, 3 years5.43%
Profit CAGR, 5 years-7.02%
Sales growth QoQ-2.43%
Profit growth QoQ-9.10%
Sales growth YoY (latest quarter)19.01%
Profit growth YoY (latest quarter)-6.94%
Per share
EPS (TTM)Rs 20.95
EPS (latest year)Rs 21.36
EPS (latest quarter)Rs 5.50
EPS, 3-year averageRs 19.48
EPS, 5-year averageRs 19.71
Book value per shareRs 169.70
Sales per shareRs 293.37
Cash flow per shareRs 27.78
Free cash flow per shareRs 8.77
Dividend per share (latest year)Rs 2.00
Dividend per share, 3-year averageRs 1.33
Dividend per share, 5-year averageRs 1.20
Dividends
Dividend payout9.36%
Dividend payout, 3-year average6.72%
Dividend payout, 5-year average6.05%
Efficiency
Asset turnover0.91x
Fixed asset turnover2.36x
Inventory turnover4.11x
Inventory days89 days
Debtor days118 days
Debtors turnover3.09x
Creditor days109 days
Cash conversion cycle121 days
Working capital days76 days
Leverage
Total debtRs 577 Cr
Cash and bankRs 9 Cr
Net debtRs 568 Cr
Debt to equity0.37x
Net debt / EBITDA1.70x
Interest coverage7.66x
Current ratio (filing 2026-03-31)1.59x
Quick ratio (filing 2026-03-31)1.06x
Trade payables (filing 2026-03-31)Rs 478 Cr
Owners' fund to total sources55.02%
Debt to assets20.48%
Cash flow
Cash from Operating Activity (latest year)Rs 254 Cr
Cash from Investing Activity (latest year)Rs -173 Cr
Cash from Financing Activity (latest year)Rs -77 Cr
Net Cash Flow (latest year)Rs 3 Cr
Free cash flow (latest year)Rs 80 Cr
FCFE (approx.: FCF + change in debt)Rs 42 Cr
Cash from ops / profit, 5 years1.17x
Sales to cash flow10.12x
Statement figures
Net sales (TTM)Rs 2,678 Cr
Net sales (latest year)Rs 2,565 Cr
Sales (latest quarter)Rs 703 Cr
Operating profit excl. other income (latest year)Rs 312 Cr
Operating profit (latest quarter)Rs 98 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 334 Cr
PBDT (TTM)Rs 300 Cr
Profit before tax (TTM)Rs 229 Cr
Tax (latest year)Rs 16 Cr
Net profit (TTM)Rs 191 Cr
Net profit (latest year)Rs 195 Cr
Net profit (latest quarter)Rs 50 Cr
Depreciation (TTM)Rs 71 Cr
Depreciation (latest quarter)Rs 18 Cr
Interest (TTM)Rs 34 Cr
Cost of goods sold (latest year)Rs 2,016 Cr
Total expenditure (latest year)Rs 2,254 Cr
Total income (latest year)Rs 2,568 Cr
Share capitalRs 91 Cr
ReservesRs 1,458 Cr
Shareholders' fundsRs 1,549 Cr
Total assetsRs 2,815 Cr
Net blockRs 1,086 Cr
Capital work in progressRs 214 Cr
InvestmentsRs 27 Cr
ReceivablesRs 830 Cr
InventoryRs 491 Cr
Other liabilitiesRs 690 Cr
Shares outstanding (crore)9.13
Ownership
Promoter holding54.43% (-0.80 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 20.1 is at the 56th percentile of its own 9.4-year range (median 19.2, low 11.5, high 49.8).
P/B 2.48 is at the 12th percentile (median 3.28).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodAARTIDRUGSNifty 50Difference
1 week-3.7%-2.8% -0.9 pts
1 month-1.4%-6.8% +5.4 pts
3 months+8.9%-7.6% +16.5 pts
6 months+31.7%+0.4% +31.3 pts
1 year-17.0%-9.9% -7.1 pts
2 years-20.9%-13.6% -7.4 pts
3 years-22.4%+14.2% -36.6 pts
5 years-30.4%+27.9% -58.2 pts
10 mutual fund schemes hold about ₹379 Cr. Over three months 0 bought more and 9 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
DSP Small Cap Fund1.21%263 -9%
ICICI Pru Healthcare Fund-1.10%77 -5%
DSP Healthcare Fund0.92%35 -8%
Motilal Oswal Nifty Microcap 250 Index Fund0.15%4 -7%
Groww Nifty Total Market Index Fund0.01%0 -8%
Bandhan BSE Healthcare Index Fund0.09%0 -4%
Angel One Nifty Total Market Index Fund0.01%0 -8%
Mirae Asset Nifty Total Market Index Fund0.01%0 -8%
Bandhan Nifty Total Market Index Fund0.01%0 -8%
Motilal Oswal BSE 1000 Index Fund0.01%0 -8%

Red flags

F-score 6 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹703 Cr +19.0% vs Jun 2025. Net profit ₹50 Cr -7.4%.
Against our estimate for Jun 2026: sales +10.9%, profit +8.6% in line. Our estimate for Sep 2026: sales Rs 736 Cr, profit Rs 52 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-02-09Interim Dividend - Rs 2 Per Share
2025-02-04Interim Dividend - Re 1 Per Share
2024-09-05Buy Back
2024-02-06Interim Dividend - Re 1 Per Share
2023-08-04Buy Back
2023-02-08Interim Dividend - Rs 1 Per Share
2022-02-09Interim Dividend - Re 1 Per Share
2021-03-30 Buyback
2020-11-03 Interim Dividend - Rs 2.5 Per Share
2020-09-30 Bonus 3:10.2500
2020-02-17 Interim Dividend - Rs 2 Per Share
2019-07-26 Annual General Meeting/Dividend - Re 1 Per Share
2019-03-28 Buyback
2018-08-01 Annual General Meeting/Dividend- Re 1 Per Share
2018-01-18 Buyback
2017-08-09 Annual General Meeting/Dividend - Re 1/- Per Share
2016-11-01 Buy Back
2016-07-13 Annual General Meeting
2016-03-22 Interim Dividend - Rs 3/- Per Share (Purpose Revised)
2016-02-12 Interim Dividend - Rs 1.50/- Per Share (Purpose Revised)
2015-11-10 Interim Dividend - Rs 2.25/- Per Share (Purpose Revised)
2015-08-05Annual General Meeting/ Dividend - Rs 3/- Per Share
2015-03-24Bonus 1:10.5000
2015-02-04Second Interim Dividend - Rs 5/- Per Share (Purpose Revised)
2014-11-19Interim Dividend - Rs 5/- Per Share (Purpose Revised)
2014-07-02Annual General Meeting/Dividend Rs:- 5.50 Per Share
2014-02-05Second Interim Dividend - Rs 4.50/- Per Share (Purpose Revised)
2013-11-19Interim Dividend Rs.3/- Per Share
2013-07-24Annual General Meeting/Dividend Rs 4/- Per Share
2013-02-11Interim Dividend Rs 3 Per Share (Purpose Revised)
2012-11-05Interim Dividend Rs 3 Per Share (Purpose Revised)
2012-02-06Interim Dividend Rs.2/- Per Share (Purpose Revised)
2011-07-14Annual General Meeting And Dividend Rs.2.50 Per Share
2011-02-07Interim Dividend-Rs.2.50 Per Share (Purpose Revised)
2010-08-18Annual General Meeting And Dividend Rs.5/- Per Share
2009-07-23Agm/Div-Rs.3/- Per Share
2008-08-13Agm/Dividend - 18%
2007-08-24Agm
2007-03-201st Int Div-Rs1.20 Per Shpurpose Revised
2006-07-19Agm/Div-Rs.1.50/- Per Sh
DateTypeWhat it says
2026-10-01General UpdatesGeneral Updates
2026-09-30ResignationResignation of Director/KMP/SMP
2026-09-30Change in ManagementChange in Management
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Aarti Drugs Ltd?

Aarti Drugs Ltd (AARTIDRUGS) has a market capitalisation of Rs 3,912 Cr. at the 2026-10-01 close.

What is the P/E ratio of Aarti Drugs Ltd?

Aarti Drugs Ltd trades at a P/E of 20.3 on trailing twelve-month profit, at the 2026-10-01 close.

What were Aarti Drugs Ltd's latest quarterly results?

In the Jun 2026 quarter, Aarti Drugs Ltd sales was Rs 703 Cr (+19.0% vs Jun 2025) and net profit was Rs 50 Cr.

What is the 52-week high and low of Aarti Drugs Ltd?

The 52-week high is Rs 534.00 and the 52-week low is Rs 318.95.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03