Aarti Industries Ltd

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

Aarti Industries Ltd

₹ 438 2.24%
14 Nov - 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]
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.

Website BSE NSE
  • Market Cap ₹ 15,887 Cr.
  • Current Price ₹ 438
  • High / Low ₹ 770 / 426
  • Stock P/E 35.4
  • Book Value ₹ 150
  • Dividend Yield 0.23 %
  • ROCE 7.47 %
  • ROE 8.24 %
  • Face Value ₹ 5.00
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Pros

Cons

  • Stock is trading at 2.92 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 BSE 400 MidSmallCap Index Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty500 Multicap India Manufacturing 50:30:20 BSE 250 LargeMidCap Index

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
1,255 2,055 1,718 1,605 1,686 1,635 1,639 1,404 1,450 1,724 1,769 1,849 1,716
1,000 1,166 1,389 1,322 1,417 1,349 1,387 1,202 1,217 1,465 1,486 1,543 1,517
Operating Profit 255 889 329 283 269 286 252 202 233 259 283 306 199
OPM % 20% 43% 19% 18% 16% 17% 15% 14% 16% 15% 16% 17% 12%
1 0 3 0 0 0 0 0 0 8 0 6 8
Interest 14 23 30 44 44 45 33 40 58 54 59 64 62
Depreciation 57 57 75 72 73 82 84 89 93 97 98 102 108
Profit before tax 184 809 226 167 152 159 135 73 82 116 126 146 37
Tax % 18% 10% 16% 18% 17% 15% -10% 3% -11% -7% -5% 5% -49%
150 725 190 137 126 135 148 71 91 124 132 138 55
EPS in Rs 4.15 19.99 5.23 3.78 3.48 3.73 4.08 1.96 2.51 3.42 3.64 3.81 1.52
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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: 3%
3 Years: -21%
1 Year: -17%
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%

Shareholding Pattern

Numbers in percentages

2 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
44.21% 44.19% 44.19% 44.16% 44.15% 44.07% 43.65% 43.57% 43.54% 43.43% 43.24% 42.61%
12.27% 12.46% 11.82% 12.11% 12.05% 12.32% 12.17% 10.58% 10.83% 10.93% 10.61% 9.68%
14.54% 14.89% 15.07% 15.02% 14.54% 14.74% 14.83% 16.14% 15.82% 17.24% 18.55% 18.11%
0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.02% 0.03% 0.03% 0.01%
28.98% 28.45% 28.91% 28.69% 29.26% 28.87% 29.33% 29.72% 29.78% 28.38% 27.58% 29.58%
No. of Shareholders 2,82,9802,95,7633,40,3583,40,7693,76,5483,85,7513,97,9074,23,1404,18,1233,77,9533,49,4153,94,154

* 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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