MarketFriction

Aarti Industries Ltd

NSE AARTIIND · BSE 524208 · Specialty Chemicals
₹465.10 -2.23%
NSE close2026-10-01
52 week range338.05 - 551.75
Market cap₹17,045 Cr.
P/E32.6
Nifty 500Nifty Smallcap 100Smallcap 250 Price band 20% Delivery 50.7%

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
Sales1,4541,7321,7731,8511,6281,8431,9491,6752,1002,3182,2052,387
Expenses1,2211,4731,4891,5461,4311,6121,6871,4631,8091,9971,8642,005
Operating Profit233259284305197231262212291321341382
OPM %16%15%16%16%12%13%13%13%14%14%15%16%
Other Income08-16753422-1315
Interest58545964628564601006911283
Depreciation939798102108111113114120121119124
Profit before tax821161261453440884293118111180
Tax %-11%-7%-5%6%-53%-15%-9%-2%-14%-13%-23%14%
Net Profit9112413213752469643106133137155
EPS in Rs2.513.423.643.781.431.272.651.192.923.673.784.27
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,0063,1633,8064,1684,1864,5066,0866,6196,3717,2698,2869,010
Expenses2,4342,5093,1063,2023,2093,5254,3655,5305,3936,2727,1187,675
Operating Profit5726547009659779821,7201,0899789971,1681,335
OPM %19%21%18%23%23%22%28%16%15%14%14%15%
Other Income627291117201115
Interest11711713218312586102168211275340364
Depreciation98123146163185231246310378434474484
Profit before tax3634164296226766651,372611395307365502
Tax %26%21%19%19%19%19%14%11%-5%-8%-15%
Net Profit2683283465045475351,186545416331419531
EPS in Rs7.719.6210.2414.1815.3915.0232.7115.0411.499.1311.5614.64
Dividend Payout %28%3%2%19%11%10%11%17%9%11%9%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth11%13%8%27%
Compounded Profit Growth5%-5%-9%122%
Stock Price CAGR13%-11%-1%25%
Return on Equity14%12%7%7%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital44424141438787181181181181181
Reserves9721,0961,3211,5382,5872,8923,4164,3354,7395,1095,4245,774
Borrowings1,2021,2921,5642,0832,4012,0982,8572,5872,9073,6233,8484,966
Other Liabilities7195385737308261,2561,2827487541,2031,6612,379
Total Liabilities2,9382,9663,4994,3915,8586,3327,6427,8518,58110,11511,11413,300
Fixed Assets9671,2461,6971,9982,1472,4683,5933,5954,8615,6496,3776,399
CWIP1933132704367951,4181,2981,3461,0961,2291,4542,187
Investments13941474733376428172348132
Other Assets1,6391,3661,4861,9102,8842,4092,6882,8822,6073,2143,2354,582
Total Assets2,9382,9663,4994,3915,8586,3327,6427,8518,58110,11511,11413,300
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3405744703357361,1028735191,3191,2101,238781
Cash from Investing Activity-298-452-529-610-797-1,124-1,322-1,169-1,330-1,369-1,393-1,142
Cash from Financing Activity-23-12858279833-53561441238420-73745
Net Cash Flow19-7-04772-557165-23927261-229383
Free Cash Flow45124-60-279-55-23-442-646-8-96-137-340
CFO/OP85%117%87%62%90%130%99%44%129%132%123%67%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days556461636866646552493962
Inventory Days123108136144152174190143115121126129
Days Payable556771695572117532476107137
Cash Conversion Cycle123105125138165168137155143945854
Working Capital Days1010-46-14-14-3622-29-36-44-64
ROCE %19%20%19%16%18%15%13%22%10%7%6%7%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters43.57%43.54%43.43%43.24%42.61%42.35%42.24%42.24%42.18%42.14%42.09%41.82%
FIIs10.58%10.83%10.93%10.61%9.68%7.25%6.29%6.44%6.40%6.70%7.38%7.00%
DIIs16.14%15.82%17.24%18.55%18.11%17.93%19.96%20.38%18.21%18.22%20.12%21.11%
Government0.01%0.02%0.03%0.03%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public29.72%29.78%28.38%27.58%29.58%32.46%31.48%30.92%33.20%32.94%30.39%30.08%
No. of Shareholders4,23,1404,18,1233,77,9533,49,4153,94,1544,50,5884,39,2274,25,3994,28,9314,18,4923,84,2103,70,868

Fundamentals

Market Cap₹ 17,045 Cr.
Current Price₹ 470
Stock P/E32.6
Book Value₹ 164
ROCE6.86 %
ROE7.13 %
Dividend Yield0.21 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)27%
Compounded Profit Growth (TTM)122%
Consolidated figures.
Valuation
Market capRs 16,864 Cr
Enterprise valueRs 21,222 Cr
P/E (TTM)31.76x
Price to book2.83x
Price to sales1.87x
EV / EBITDA15.72x
EV / EBIT24.51x
EV / sales2.36x
Price to cash flow21.60x
Earnings yield3.15%
Dividend yield0.21%
P/E, 3-year average45.09x
P/B, 3-year average3.17x
P/E, 5-year average39.26x
P/B, 5-year average4.06x
Profitability
Operating margin (excl. other income)14.10%
Operating margin (incl. other income)14.23%
EBITDA margin14.98%
Pre-tax margin5.57%
Net profit margin5.89%
Net margin, latest quarter6.49%
ROE7.25%
ROCE6.92%
ROA3.43%
ROE, 3-year average7.16%
ROCE, 3-year average6.84%
ROA, 3-year average3.67%
ROE, 5-year average12.52%
ROCE, 5-year average10.57%
ROA, 5-year average6.59%
ROIC (approx.)9.65%
Tax rate-14.89%
Other income / net worth0.18%
Growth
Sales growth (latest year)13.99%
Profit growth (latest year)26.66%
Sales CAGR, 3 years7.78%
Sales CAGR, 5 years12.96%
Profit CAGR, 3 years-8.40%
Profit CAGR, 5 years-4.35%
Sales growth QoQ8.25%
Profit growth QoQ13.14%
Sales growth YoY (latest quarter)42.51%
Profit growth YoY (latest quarter)260.47%
Per share
EPS (TTM)Rs 14.64
EPS (latest year)Rs 11.56
EPS (latest quarter)Rs 4.27
EPS, 3-year averageRs 10.72
EPS, 5-year averageRs 15.98
Book value per shareRs 164.24
Sales per shareRs 248.49
Cash flow per shareRs 21.53
Free cash flow per shareRs -9.38
Dividend per share (latest year)Rs 1.00
Dividend per share, 3-year averageRs 1.00
Dividend per share, 5-year averageRs 1.80
Dividends
Dividend payout8.65%
Dividend payout, 3-year average9.44%
Dividend payout, 5-year average11.13%
Efficiency
Asset turnover0.62x
Fixed asset turnover1.29x
Inventory turnover3.54x
Inventory days103 days
Debtor days62 days
Debtors turnover5.91x
Creditor days137 days
Cash conversion cycle54 days
Working capital days-64 days
Leverage
Total debtRs 4,966 Cr
Cash and bankRs 608 Cr
Net debtRs 4,358 Cr
Debt to equity0.83x
Net debt / EBITDA3.23x
Interest coverage2.38x
Current ratio (filing 2026-03-31)0.83x
Quick ratio (filing 2026-03-31)0.49x
Trade payables (filing 2026-03-31)Rs 1,841 Cr
Owners' fund to total sources44.77%
Debt to assets37.34%
Cash flow
Cash from Operating Activity (latest year)Rs 781 Cr
Cash from Investing Activity (latest year)Rs -1,142 Cr
Cash from Financing Activity (latest year)Rs 745 Cr
Net Cash Flow (latest year)Rs 383 Cr
Free cash flow (latest year)Rs -340 Cr
FCFE (approx.: FCF + change in debt)Rs 779 Cr
Cash from ops / profit, 5 years1.75x
Sales to cash flow10.61x
Statement figures
Net sales (TTM)Rs 9,010 Cr
Net sales (latest year)Rs 8,286 Cr
Sales (latest quarter)Rs 2,387 Cr
Operating profit excl. other income (latest year)Rs 1,168 Cr
Operating profit (latest quarter)Rs 382 Cr
Other income (TTM)Rs 15 Cr
EBITDA (TTM)Rs 1,350 Cr
PBDT (TTM)Rs 986 Cr
Profit before tax (TTM)Rs 502 Cr
Tax (latest year)Rs -54 Cr
Net profit (TTM)Rs 531 Cr
Net profit (latest year)Rs 419 Cr
Net profit (latest quarter)Rs 155 Cr
Depreciation (TTM)Rs 484 Cr
Depreciation (latest quarter)Rs 124 Cr
Interest (TTM)Rs 364 Cr
Cost of goods sold (latest year)Rs 6,128 Cr
Total expenditure (latest year)Rs 7,118 Cr
Total income (latest year)Rs 8,297 Cr
Share capitalRs 181 Cr
ReservesRs 5,774 Cr
Shareholders' fundsRs 5,955 Cr
Total assetsRs 13,300 Cr
Net blockRs 6,399 Cr
Capital work in progressRs 2,187 Cr
InvestmentsRs 132 Cr
ReceivablesRs 1,403 Cr
InventoryRs 1,732 Cr
Other liabilitiesRs 2,379 Cr
Shares outstanding (crore)36.26
Ownership
Promoter holding41.82% (-0.42 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 31.8 is at the 26th percentile of its own 9.4-year range (median 38.3, low 15.7, high 69.6).
P/B 2.83 is at the 11th percentile (median 5.78).
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.
PeriodAARTIINDNifty 50Difference
1 week-5.0%-2.8% -2.2 pts
1 month-11.4%-6.8% -4.6 pts
3 months-4.6%-7.6% +3.0 pts
6 months+16.6%+0.4% +16.1 pts
1 year+22.3%-9.9% +32.2 pts
2 years-19.1%-13.6% -5.5 pts
3 years-5.4%+14.2% -19.5 pts
5 years-50.6%+27.9% -78.5 pts
80 mutual fund schemes hold about ₹2,541 Cr. Over three months 72 bought more and 2 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HDFC Mid Cap Fund0.37%405 +12%
Nippon India Small Cap Fund0.36%297 +14%
ICICI Pru India Opp Fund0.55%212 +17%
ICICI Pru Multi Cap Fund0.90%176 +12%
ICICI Pru Multi Cap Fund0.90%169 +12%
ICICI Pru Commodities Fund3.05%130 +9%
Mahindra Manulife Multi Cap Fund1.48%113 +8%
Axis Small Cap Fund0.33%105 +12%
ICICI Pru Manufacturing Fund1.23%88 +14%
ICICI Pru Business Cycle Fund0.50%80 +22%
HDFC Large & Mid Cap Fund0.18%53 +16%
Bandhan Small Cap Fund0.15%52 -0%
ICICI Pru Small Cap Fund0.53%52 +15%
ICICI Pru Small Cap Fund0.53%51 +15%
Mahindra Manulife Small Cap Fund0.74%41 +8%
ICICI Pru Mid Cap Fund0.44%37 +12%
ICICI Pru Mid Cap Fund0.44%35 +12%
HSBC India Export Opportunities Fund2.42%32 +9%
ICICI Pru ELSS-Tax Saver Fund0.21%30 +18%
Union Flexi Cap Fund1.16%28 +16%
Mahindra Manulife Large & Mid Cap Fund0.95%28 +13%
JM Flexi Cap Fund0.48%25 +17%
Union Midcap Fund1.10%22 +10%
Union Small Cap Fund0.80%21 +2%
Union Small Cap Fund0.80%19 +2%

Red flags

F-score 6 of 8
explainReceivables outrunning sales Receivables grew 78% vs sales +14% in 2026
lookRegulator order or action Regulator order or action 2025-12-05: Aarti Industries Limited has informed the Exchange about Action(s) taken or orders passed
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 ₹2,387 Cr +42.5% vs Jun 2025. Net profit ₹155 Cr +260.5%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-11Dividend - Re 1 Per Share
2025-08-18Dividend - Re 1 Per Share
2024-07-26Dividend - Re 1 Per Share
2023-07-28Dividend - Rs 1.50 Per Share
2023-02-15Interim Dividend - Re 1 Per Share
2022-10-19Demerger
2022-09-16Dividend - Rs 1.50 Per Share
2022-02-15Interim Dividend - Re 1 Per Share
2021-11-10 Interim Dividend - Re 1 Per Share
2021-09-20 Dividend - Rs 1.50 Per Share
2021-06-22 Bonus 1:10.5000
2020-11-19 Interim Dividend - Rs 1.50 Per Share
2020-09-10 Dividend - Re 1 Per Share
2020-02-24 Interim Dividend - Rs 2.5 Per Share
2019-09-27 Bonus 1:10.5000
2019-08-27 Annual General Meeting/Dividend - Rs 7 Per Share
2019-07-03 Scheme Of Demerger
2019-02-12 Interim Dividend - Rs 4 Per Share
2018-09-11 Annual General Meeting/Dividend- Re 1 Per Share
2018-01-04 Buyback
2017-09-18 Annual General Meeting/ Dividend- Re 1 Per Share
2016-11-01 Buy Back
2016-09-21 Annual General Meeting
2016-03-22 Interim Dividend - Rs 3.50/- Per Share (Purpose Revised)
2016-02-12 Interim Dividend -Rs 2/- Per Share (Purpose Revised)
2015-11-09 Interim Dividend - Rs 3/- Per Share (Purpose Revised)
2015-09-15Annual General Meetin/ Dividend - Rs 1.75/- Per Share
2015-02-12Second Interim Dividend - Re 1.50 Per Share (Purpose Revised)
2014-11-13Interim Dividend - Rs 2.25/- Per Share (Purpose Revised)
2014-09-15Annual General Meeting / Final Dividend - Rs 1.50/- Per Share
2014-02-06Interim Dividend - Rs 1.25/- Per Share (Purpose Revised)
2013-11-19Interim Dividend - Rs 1.75/- Per Share
2013-09-12Annual General Meeting / Final Dividend - Rs 1.25/- Per Share
2013-02-11Interim Dividend Re 1.25 Per Share (Purpose Revised)
2012-11-05Interim Dividend Rs 1.50 Per Share (Purpose Revised)
2012-08-02Annual General Meeting And Dividend Rs.1.50 Per Share
2012-02-06Interim Dividend Rs.2/- Per Share (Purpose Revised)
2011-09-16Annual General Meeting And Dividend Rs.1.25 Per Share
2011-02-07Interim Dividend-Rs.1.25 Per Share (Purpose Revised)
2010-09-07Annual General Meeting And Final Dividend Re.0.70 Per Share
2010-02-03Int Div-Rs.1.80 Per Sharepurpose Revised
2009-09-29Agm/Div-Rs.1.20 Per Share
2008-10-31Interim Dividend - 36% Purpose Revised
2008-07-10Agm/Dividend - 10%
2008-02-01Int Div- Rs.1/- Per Sharepurpose Revised
2007-09-14Agm
2007-03-202nd Int Div-Re0.30 Per Shpurpose Revised
2007-02-13Int Div-Re.0.50 Per Sh Purpose Revised
2006-09-18Agm/Div-Re.0.40/- Per Sh
DateTypeWhat it says
2026-10-01Board meeting outcomeOutcome of Board Meeting held on October 01, 2026 - Fund Raising (Enabling Approval).
2026-09-24ESOPAllotment of 14669 Shares under Aarti Industries Limited PSOP 2022.
2026-09-22Shareholder meetingVoting results.
2026-09-21UpdatesInvestor Presentation made at 43rd Annual General Meeting..
2026-09-21Shareholder meetingProceedings of Annual General Meeting held on September 21, 2026
2026-09-16Concall / analyst meetSchedule of Analyst/ Investor meet
2026-09-07Press ReleaseA press release dated September 07, 2026, titled "Aarti Industries Commissions Phase I of Zone IV, Unlocking New High-Value Manufacturing Opportunitie...
2026-08-27Record DateRecord date for the purpose of Dividend is 14-Sep-2026.
2026-08-27UpdatesBusiness Responsibility and Sustainability Report for the Financial Year 2025-26.
2026-08-27Shareholder meetingNotice of Annual General Meeting to be held on September 21, 2026
2026-08-24Concall / analyst meetSchedule of Analyst /Investor Meet.
2026-08-07Concall / analyst meetTranscript
2026-08-06Concall / analyst meetSchedule of Investor meet
2026-08-03UpdatesSubmission of Reclassification Application to Stock Exchanges.
2026-07-31General UpdatesUpdates on Risk Management Committee.
2026-07-31Concall / analyst meetLink of Recording
2026-07-30Investor PresentationInvestor Presentation
2026-07-30General UpdatesRe-classification from Promoter / Promoter Group category to Public category of the Company
2026-07-30Press ReleasePress Release titled "Aarti Industries announces leadership transition to further strengthen governance and long term growth".
2026-07-30General UpdatesIncorporation of Subsidiary in China
2026-07-30Press ReleaseA press release dated July 30, 2026 regarding Unaudited Financial Results Q1 FY 2027".
2026-07-30Director changeChange in Director(s) of the company.
2026-07-30Board meeting outcomeAarti Industries Limited has submitted to the Exchange, the unaudited financial results for the quarter ended June 30, 2026.
2026-07-21Concall / analyst meetQuarterly Earnings Conference Call to discuss the Companys Q1 FY27 Results.
2026-06-24AllotmentAllotment of 78641 securities pursuant to ESOP/ESPS at its meeting held on Jun 24, 2026
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 Industries Ltd?

Aarti Industries Ltd (AARTIIND) has a market capitalisation of Rs 17,045 Cr. at the 2026-10-01 close.

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

Aarti Industries Ltd trades at a P/E of 32.6 on trailing twelve-month profit, at the 2026-10-01 close.

What were Aarti Industries Ltd's latest quarterly results?

In the Jun 2026 quarter, Aarti Industries Ltd sales was Rs 2,387 Cr (+42.5% vs Jun 2025) and net profit was Rs 155 Cr.

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

The 52-week high is Rs 551.75 and the 52-week low is Rs 338.05.

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