Aarti Industries Ltd
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]
- Market Cap ₹ 14,849 Cr.
- Current Price ₹ 410
- High / Low ₹ 770 / 402
- Stock P/E 33.1
- Book Value ₹ 150
- Dividend Yield 0.24 %
- ROCE 7.47 %
- ROE 8.24 %
- Face Value ₹ 5.00
Pros
Cons
- Stock is trading at 2.72 times its book value
- Promoter holding has decreased over last quarter: -0.63%
- The company has delivered a poor sales growth of 9.54% over past five years.
- Tax rate seems low
- Company might be capitalizing the interest cost
- Dividend payout has been low at 12.0% of profits over last 3 years
* 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
Part of Nifty 500 BSE 250 SmallCap Index BSE Commodities Nifty Smallcap 100 BSE Allcap
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2,086 | 2,619 | 2,853 | 2,934 | 3,050 | 3,699 | 4,025 | 3,994 | 4,317 | 6,040 | 6,565 | 6,347 | 7,058 | |
1,729 | 2,223 | 2,396 | 2,404 | 2,442 | 3,043 | 3,108 | 3,065 | 3,382 | 4,329 | 5,477 | 5,366 | 6,011 | |
Operating Profit | 356 | 396 | 456 | 530 | 608 | 657 | 917 | 930 | 935 | 1,711 | 1,088 | 981 | 1,047 |
OPM % | 17% | 15% | 16% | 18% | 20% | 18% | 23% | 23% | 22% | 28% | 17% | 15% | 15% |
4 | 10 | 5 | 10 | 3 | 2 | 5 | 11 | 2 | 1 | 0 | 3 | 22 | |
Interest | 95 | 118 | 137 | 116 | 117 | 131 | 179 | 122 | 86 | 102 | 166 | 211 | 239 |
Depreciation | 82 | 87 | 79 | 93 | 115 | 136 | 151 | 173 | 218 | 244 | 310 | 377 | 405 |
Profit before tax | 184 | 201 | 246 | 331 | 379 | 392 | 591 | 646 | 632 | 1,366 | 613 | 396 | 425 |
Tax % | 29% | 26% | 24% | 24% | 19% | 19% | 19% | 19% | 19% | 13% | 11% | -5% | |
131 | 149 | 188 | 252 | 307 | 316 | 481 | 523 | 514 | 1,182 | 546 | 417 | 449 | |
EPS in Rs | 4.15 | 4.20 | 5.30 | 7.58 | 9.34 | 9.73 | 13.88 | 15.02 | 14.74 | 32.61 | 15.06 | 11.51 | 12.39 |
Dividend Payout % | 24% | 27% | 26% | 28% | 3% | 3% | 20% | 12% | 10% | 11% | 17% | 9% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 10% |
3 Years: | 14% |
TTM: | 15% |
Compounded Profit Growth | |
---|---|
10 Years: | 11% |
5 Years: | -3% |
3 Years: | -6% |
TTM: | 1% |
Stock Price CAGR | |
---|---|
10 Years: | 21% |
5 Years: | 2% |
3 Years: | -22% |
1 Year: | -32% |
Return on Equity | |
---|---|
10 Years: | 18% |
5 Years: | 16% |
3 Years: | 16% |
Last Year: | 8% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 40 | 44 | 44 | 42 | 41 | 41 | 43 | 87 | 87 | 181 | 181 | 181 | 181 |
Reserves | 637 | 734 | 864 | 1,052 | 1,269 | 1,475 | 2,517 | 2,815 | 3,325 | 4,320 | 4,740 | 5,111 | 5,269 |
846 | 1,037 | 1,201 | 1,275 | 1,545 | 2,047 | 2,366 | 2,073 | 2,851 | 2,581 | 2,907 | 3,241 | 3,881 | |
550 | 749 | 710 | 467 | 485 | 620 | 702 | 1,115 | 1,251 | 748 | 762 | 1,109 | 1,187 | |
Total Liabilities | 2,073 | 2,565 | 2,819 | 2,836 | 3,341 | 4,182 | 5,628 | 6,089 | 7,514 | 7,830 | 8,590 | 9,643 | 10,518 |
664 | 793 | 936 | 1,170 | 1,567 | 1,844 | 1,979 | 2,302 | 3,511 | 3,635 | 4,824 | 5,605 | 5,872 | |
CWIP | 62 | 113 | 188 | 307 | 267 | 431 | 795 | 1,418 | 1,298 | 1,303 | 1,096 | 1,229 | 1,393 |
Investments | 19 | 32 | 63 | 56 | 62 | 56 | 33 | 37 | 36 | 3 | 12 | 19 | 31 |
1,328 | 1,627 | 1,632 | 1,304 | 1,446 | 1,850 | 2,820 | 2,333 | 2,669 | 2,889 | 2,658 | 2,790 | 3,222 | |
Total Assets | 2,073 | 2,565 | 2,819 | 2,836 | 3,341 | 4,182 | 5,628 | 6,089 | 7,514 | 7,830 | 8,590 | 9,643 | 10,518 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
217 | 292 | 357 | 550 | 411 | 312 | 700 | 1,065 | 844 | 507 | 1,281 | 1,166 | |
-219 | -271 | -323 | -424 | -470 | -574 | -768 | -1,109 | -1,307 | -1,162 | -1,301 | -1,269 | |
3 | -19 | -20 | -128 | 57 | 264 | 839 | -520 | 635 | 417 | 46 | 35 | |
Net Cash Flow | 1 | 3 | 14 | -2 | -3 | 2 | 771 | -564 | 173 | -239 | 27 | -69 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 75 | 65 | 60 | 65 | 66 | 69 | 73 | 72 | 69 | 68 | 54 | 50 |
Inventory Days | 150 | 146 | 124 | 104 | 124 | 132 | 139 | 167 | 186 | 137 | 115 | 121 |
Days Payable | 70 | 89 | 57 | 66 | 67 | 67 | 53 | 69 | 121 | 53 | 26 | 58 |
Cash Conversion Cycle | 155 | 122 | 126 | 103 | 123 | 135 | 159 | 169 | 135 | 153 | 143 | 113 |
Working Capital Days | 122 | 102 | 94 | 93 | 94 | 104 | 100 | 96 | 65 | 122 | 96 | 83 |
ROCE % | 21% | 19% | 19% | 20% | 19% | 16% | 18% | 15% | 13% | 22% | 10% | 7% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
19 Dec - Allotment of Equity Shares under Aarti Industries Limited PSOP 2022
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Disclosure under Regulation 30A of LODR
17 Dec - Intimation for signing of Shareholder’s Agreement.
- Closure of Trading Window 17 Dec
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Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
4 Dec - Issuance of duplicate share certificates for shareholders.
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Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
25 Nov - Issuance of duplicate share certificates for shareholders.
Annual reports
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Financial Year 2024
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Financial Year 2022
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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Business Overview:[1]
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 16 manufacturing units, 2 R&D centres, 5 co-gen power plants, 100+ products, 700+ domestic customers, 400+ export customers in 60+ countries with major presence in the USA, Europe, Japan, etc.