Aries Agro Ltd

₹ 362 1.02%

12 Dec 1:24 p.m.

About

Incorporated in 1969, Aries Agro Ltd offers products in the primary, secondary and microfertilizer sector, ranging from individual elements to mixed specialty plant nutrient fertilizers^[1]

Key Points

Business Overview:^[1]^[2]^[3]
AAL is in the business of manufacturing micronutrients and other customized nutritional products for plants and animals. It introduced the chelation technology for manufacturing micronutrients in India and is the market leader in the same. Company offers bio-degradable complexes of plant nutrients, water soluble NPK fertilizers, value added secondary nutrients, natural and biological products and water treatment formulations. Currently, company has 134 brands customized based on crop, and agro climatic requirements, with 21 organically certified products

Website BSE NSE

Market Cap ₹ 471 Cr.
Current Price ₹ 362
High / Low ₹ 380 / 187
Stock P/E 16.8
Book Value ₹ 206
Dividend Yield 0.28 %
ROCE 16.9 %
ROE 9.18 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.

Cons

Company has a low return on equity of 9.32% over last 3 years.
Contingent liabilities of Rs.173 Cr.
Dividend payout has been low at 5.95% of profits over last 3 years
Company's cost of borrowing seems high

* 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: Fertilizers Industry: Fertilizers

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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
	128	131	85	117	139	134	93	108	157	144	105	138	183
	102	116	86	98	113	118	92	94	127	127	105	122	152
Operating Profit	26	15	-1	19	25	15	1	14	30	18	-0	16	31
OPM %	20%	11%	-1%	16%	18%	12%	1%	13%	19%	12%	-0%	11%	17%
	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest	7	5	7	5	7	6	5	4	9	4	5	3	8
Depreciation	1	2	2	1	2	2	2	2	2	2	2	2	2
Profit before tax	18	8	-10	12	17	7	-7	8	19	12	-7	11	21
Tax %	29%	30%	-32%	28%	16%	21%	20%	31%	29%	30%	-23%	30%	20%
	12	6	-7	9	14	6	-9	6	13	8	-6	8	17
EPS in Rs	9.61	4.46	-5.12	6.83	11.00	4.36	-6.63	4.39	10.16	6.51	-4.28	6.12	13.15
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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
	173	214	209	208	217	261	265	296	381	432	470	508	571
	138	173	172	176	177	216	220	253	324	384	423	453	507
Operating Profit	35	41	37	32	40	45	45	43	57	48	47	55	64
OPM %	20%	19%	18%	15%	18%	17%	17%	14%	15%	11%	10%	11%	11%
	2	2	1	1	2	4	7	11	5	9	13	6	0
Interest	21	23	21	21	21	25	27	26	26	24	23	22	19
Depreciation	2	1	2	2	2	2	2	5	6	6	8	7	7
Profit before tax	14	18	15	10	18	22	23	23	30	27	29	32	38
Tax %	33%	37%	22%	39%	35%	35%	34%	32%	25%	28%	31%	31%
	9	12	12	6	12	14	15	16	23	19	20	22	28
EPS in Rs	7.18	8.87	9.08	4.92	9.10	10.88	11.46	12.00	17.41	14.63	15.56	16.77	21.50
Dividend Payout %	21%	23%	22%	30%	22%	21%	16%	4%	5%	5%	6%	6%

Compounded Sales Growth
10 Years:	9%
5 Years:	14%
3 Years:	10%
TTM:	16%

Compounded Profit Growth
10 Years:	6%
5 Years:	8%
3 Years:	-1%
TTM:	75%

Stock Price CAGR
10 Years:	11%
5 Years:	42%
3 Years:	37%
1 Year:	74%

Return on Equity
10 Years:	9%
5 Years:	10%
3 Years:	9%
Last Year:	9%

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	13	13	13	13	13	13	13	13	13	13	13	13	13
Reserves	119	127	122	113	122	133	144	155	178	196	214	235	254
	148	132	114	114	112	149	161	150	142	110	98	65	27
	57	51	55	60	71	90	107	136	143	168	172	179	242
Total Liabilities	337	323	304	299	318	385	425	454	476	486	497	491	537
	37	35	21	26	25	34	39	48	54	65	70	77	85
CWIP	14	11	9	9	15	14	15	12	12	0	0	2	0
Investments	20	20	20	20	20	20	20	20	20	20	23	29	34
	266	257	254	244	258	317	352	374	389	401	405	384	417
Total Assets	337	323	304	299	318	385	425	454	476	486	497	491	537

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	25	31	25	30	31	48	57	55	66	53	74
	13	3	-12	-4	-37	-31	-24	-12	-8	-15	-18
	-46	-38	-13	-25	7	-19	-37	-43	-58	-37	-56
Net Cash Flow	-8	-4	0	1	0	-2	-4	-0	0	1	-1

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	174	162	171	142	135	133	137	125	104	90	84	77
Inventory Days	583	369	427	364	553	458	478	466	271	233	208	177
Days Payable	182	101	137	82	143	185	189	197	101	108	86	64
Cash Conversion Cycle	575	430	461	424	545	406	425	394	275	215	206	190
Working Capital Days	402	324	329	312	302	306	327	296	240	202	187	153
ROCE %	14%	15%	14%	13%	16%	17%	16%	16%	17%	16%	16%	17%

Shareholding Pattern

Numbers in percentages

25 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	52.66%	52.66%	52.66%	52.66%	52.66%	52.66%	52.66%	52.66%	52.66%	52.66%	52.66%	52.66%
	0.24%	0.20%	0.34%	0.48%	0.56%	1.94%	1.78%	2.10%	2.38%	3.29%	3.08%	2.53%
	47.11%	47.14%	47.00%	46.86%	46.78%	45.40%	45.56%	45.23%	44.96%	44.04%	44.25%	44.81%
No. of Shareholders	18,121	19,197	19,101	18,314	18,851	18,540	17,887	17,899	16,715	19,518	20,518	21,997

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	52.66%	52.66%	52.66%	52.66%	52.66%	52.66%	52.66%	52.66%	52.66%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.20%	1.94%	3.29%	2.53%
	0.25%	0.15%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	47.10%	47.19%	47.19%	47.34%	47.34%	47.14%	45.40%	44.04%	44.81%
No. of Shareholders	9,705	12,762	13,793	12,953	14,183	19,197	18,540	19,518	21,997

* 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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Nov 2019

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Aug 2019

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Mar 2019

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Dec 2018

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