Aankondiging • 15h
Aries Agro Limited Recommends Special Dividend for the Financial Year 2025-26 Aries Agro Limited at its board of directors meeting held on May 28, 2026, recommended Dividend of 25% being INR 2.50 per Equity Share of INR 10.00 each for the Financial Year 2025-26, out of which INR 1.00 per Equity Share (10%) is Special Dividend on Account of Company's growth and the same are subject To Approve the Members of the Company at the upcoming Annual General Meeting. Aankondiging • May 29
Aries Agro Limited Recommends Final Dividend for the Financial Year 2025-26 Aries Agro Limited at its board of directors meeting held on May 28, 2026, recommended Dividend of 25% being INR 2.50 per Equity Share of INR 10.00 each for the Financial Year 2025-26, out of which INR 1.50 per Equity Share (15%) is Final Dividend and the same are subject To Approve the Members of the Company at the upcoming Annual General Meeting. Buy Or Sell Opportunity • May 29
Now 25% undervalued Over the last 90 days, the stock has risen 2.5% to ₹337. The fair value is estimated to be ₹446, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 40%. Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: ₹13.26 (vs ₹8.91 in 3Q 2025) Third quarter 2026 results: EPS: ₹13.26 (up from ₹8.91 in 3Q 2025). Revenue: ₹2.02b (up 21% from 3Q 2025). Net income: ₹172.4m (up 49% from 3Q 2025). Profit margin: 8.5% (up from 6.9% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 05
Aries Agro Limited to Report Q3, 2026 Results on Feb 13, 2026 Aries Agro Limited announced that they will report Q3, 2026 results on Feb 13, 2026 Buy Or Sell Opportunity • Nov 15
Now 23% overvalued Over the last 90 days, the stock has fallen 3.5% to ₹378. The fair value is estimated to be ₹308, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 34%. Aankondiging • Nov 04
Aries Agro Limited to Report Q2, 2026 Results on Nov 13, 2025 Aries Agro Limited announced that they will report Q2, 2026 results on Nov 13, 2025 Upcoming Dividend • Sep 12
Upcoming dividend of ₹1.20 per share Eligible shareholders must have bought the stock before 19 September 2025. Payment date: 17 October 2025. Payout ratio is a comfortable 4.6% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (0.7%). New Risk • Aug 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (₹5.35b market cap, or US$61.3m). Declared Dividend • Aug 15
Dividend increased to ₹1.20 Dividend of ₹1.20 is 20% higher than last year. Ex-date: 19th September 2025 Payment date: 17th October 2025 Dividend yield will be 0.3%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (5% earnings payout ratio) and cash flows (2% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 26% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • Aug 14
Aries Agro Limited, Annual General Meeting, Sep 26, 2025 Aries Agro Limited, Annual General Meeting, Sep 26, 2025. Reported Earnings • Aug 14
First quarter 2026 earnings released: EPS: ₹7.71 (vs ₹5.59 in 1Q 2025) First quarter 2026 results: EPS: ₹7.71 (up from ₹5.59 in 1Q 2025). Revenue: ₹1.61b (up 19% from 1Q 2025). Net income: ₹100.3m (up 38% from 1Q 2025). Profit margin: 6.2% (up from 5.4% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Aug 05
Aries Agro Limited to Report Q1, 2026 Results on Aug 13, 2025 Aries Agro Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Reported Earnings • May 23
Full year 2025 earnings released: EPS: ₹26.16 (vs ₹14.94 in FY 2024) Full year 2025 results: EPS: ₹26.16 (up from ₹14.94 in FY 2024). Revenue: ₹6.27b (up 21% from FY 2024). Net income: ₹340.2m (up 75% from FY 2024). Profit margin: 5.4% (up from 3.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • May 14
Aries Agro Limited to Report Q4, 2025 Results on May 22, 2025 Aries Agro Limited announced that they will report Q4, 2025 results on May 22, 2025 Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: ₹8.91 (vs ₹6.00 in 3Q 2024) Third quarter 2025 results: EPS: ₹8.91 (up from ₹6.00 in 3Q 2024). Revenue: ₹1.70b (up 16% from 3Q 2024). Net income: ₹115.8m (up 48% from 3Q 2024). Profit margin: 6.8% (up from 5.3% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year and the company’s share price has also increased by 23% per year. Aankondiging • Feb 05
Aries Agro Limited to Report Q3, 2025 Results on Feb 13, 2025 Aries Agro Limited announced that they will report Q3, 2025 results on Feb 13, 2025 Aankondiging • Jan 27
Aries Agro Limited and Aries Agro Equipments Private Limited Announce Demise of Jimmy Mirchandani, Non-Executive-Non-Independent Director Aries Agro Limited announced that Director(Non-Executive-Non-Independent Director), Dr. Jimmy Mirchandani has expired on 26 January, 2025 2025 in Canada. He was also a Director in Wholly Owned Subsidiary M/S Aries Agro Equipments Private Limited. New Risk • Jan 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₹3.66b market cap, or US$42.6m). Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹323, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 32x in the Chemicals industry in India. Total returns to shareholders of 147% over the past three years. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹330, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 31x in the Chemicals industry in India. Total returns to shareholders of 153% over the past three years. Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: ₹14.51 (vs ₹9.61 in 2Q 2024) Second quarter 2025 results: EPS: ₹14.51 (up from ₹9.61 in 2Q 2024). Revenue: ₹1.94b (up 24% from 2Q 2024). Net income: ₹188.7m (up 51% from 2Q 2024). Profit margin: 9.7% (up from 8.0% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹264, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 34x in the Chemicals industry in India. Total returns to shareholders of 94% over the past three years. Aankondiging • Oct 31
Aries Agro Limited to Report Q2, 2025 Results on Nov 08, 2024 Aries Agro Limited announced that they will report Q2, 2025 results on Nov 08, 2024 Aankondiging • Sep 24
Aries Agro Limited Approves Appointment of Shailesh Ramesh Karnik as an Independent Director Aries Agro Limited at its AGM held on September 23, 2024, the shareholders approved to appoint Dr. Shailesh Ramesh Karnik as an Independent Director of the Company, not liable to retire by rotation and to hold office for a term of 5 (five) consecutive years on the Board of the Company with effect from 14th August, 2024 up to 13th August, 2029. Upcoming Dividend • Sep 09
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 16 September 2024. Payment date: 15 October 2024. Payout ratio is a comfortable 6.7% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.0%). Lower than average of industry peers (0.6%). Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹5.59 (vs ₹3.65 in 1Q 2024) First quarter 2025 results: EPS: ₹5.59 (up from ₹3.65 in 1Q 2024). Revenue: ₹1.35b (up 26% from 1Q 2024). Net income: ₹72.7m (up 53% from 1Q 2024). Profit margin: 5.4% (up from 4.4% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Aug 15
Dividend of ₹1.00 announced Dividend of ₹1.00 is the same as last year. Ex-date: 16th September 2024 Payment date: 15th October 2024 Dividend yield will be 0.4%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (7% earnings payout ratio) and cash flows (3% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • Aug 14
Aries Agro Limited, Annual General Meeting, Sep 23, 2024 Aries Agro Limited, Annual General Meeting, Sep 23, 2024. Aankondiging • Aug 05
Aries Agro Limited to Report Q1, 2025 Results on Aug 13, 2024 Aries Agro Limited announced that they will report Q1, 2025 results on Aug 13, 2024 New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (₹3.51b market cap, or US$41.8m). Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹298, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 34x in the Chemicals industry in India. Total returns to shareholders of 89% over the past three years. Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹14.94 (vs ₹13.17 in FY 2023) Full year 2024 results: EPS: ₹14.94 (up from ₹13.17 in FY 2023). Revenue: ₹5.19b (up 10.0% from FY 2023). Net income: ₹194.3m (up 13% from FY 2023). Profit margin: 3.7% (up from 3.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹202, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 29x in the Chemicals industry in India. Total returns to shareholders of 59% over the past three years. Aankondiging • May 31
Aries Agro Limited Recommends Dividend for the Financial Year 2023-24 Aries Agro Limited announced that Meeting of the Board of Directors of the Company held on 29th May, 2024: The Board considered and recommended Dividend of 10% being INR 1/- per Equity Share of INR 10/- each for the Financial Year 2023-24, the same is subject To Approve the Members of the Company at the up coming Annual General Meeting. Aankondiging • May 23
Aries Agro Limited to Report Q4, 2024 Results on May 29, 2024 Aries Agro Limited announced that they will report Q4, 2024 results on May 29, 2024 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹281, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 30x in the Chemicals industry in India. Total returns to shareholders of 243% over the past three years. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹256, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 29x in the Chemicals industry in India. Total returns to shareholders of 179% over the past three years. Reported Earnings • Feb 19
Third quarter 2024 earnings released: EPS: ₹6.00 (vs ₹3.94 in 3Q 2023) Third quarter 2024 results: EPS: ₹6.00 (up from ₹3.94 in 3Q 2023). Revenue: ₹1.47b (up 11% from 3Q 2023). Net income: ₹78.1m (up 52% from 3Q 2023). Profit margin: 5.3% (up from 3.9% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings. Aankondiging • Feb 07
Aries Agro Limited to Report Q3, 2024 Results on Feb 14, 2024 Aries Agro Limited announced that they will report Q3, 2024 results on Feb 14, 2024 New Risk • Jan 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.5% average weekly change). Profit margins are more than 30% lower than last year (2.7% net profit margin). Profit margins are more than 30% lower than last year (2.7% net profit margin). Market cap is less than US$100m (₹3.77b market cap, or US$45.4m). Market cap is less than US$100m (₹3.77b market cap, or US$45.4m). Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₹290, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 30x in the Chemicals industry in India. Total returns to shareholders of 184% over the past three years. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹201, the stock trades at a trailing P/E ratio of 20.2x. Average trailing P/E is 28x in the Chemicals industry in India. Total returns to shareholders of 139% over the past three years. New Risk • Nov 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.7% Last year net profit margin: 3.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.7% net profit margin). Market cap is less than US$100m (₹2.28b market cap, or US$27.4m). Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: ₹9.61 (vs ₹11.05 in 2Q 2023) Second quarter 2024 results: EPS: ₹9.61 (down from ₹11.05 in 2Q 2023). Revenue: ₹1.58b (up 17% from 2Q 2023). Net income: ₹124.9m (down 13% from 2Q 2023). Profit margin: 7.9% (down from 11% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Nov 01
Aries Agro Limited to Report Q2, 2024 Results on Nov 08, 2023 Aries Agro Limited announced that they will report Q2, 2024 results on Nov 08, 2023 Aankondiging • Oct 06
Aries Agro Limited Approves Dividend for the Financial Year Ended 31 March, 2023 Aries Agro Limited at its AGM held on September 29, 2023, approved to declare Dividend for the Financial Year ended 31 March, 2023 at the rate of INR 1.00 (10%) per Equity Share on 1,30,04,339 Equity Shares of INR 10/- each of the Company, for the Financial Year ended on 31 March, 2023 aggregating to INR 13.004 million payable to the Members whose names appear on the Register of Members of the Company on 22 September, 2023. Upcoming Dividend • Sep 15
Upcoming dividend of ₹1.00 per share at 0.6% yield Eligible shareholders must have bought the stock before 22 September 2023. Payment date: 20 October 2023. Payout ratio is a comfortable 7.6% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹189, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 26x in the Chemicals industry in India. Total returns to shareholders of 136% over the past three years. Aankondiging • Aug 11
Aries Agro Limited, Annual General Meeting, Sep 29, 2023 Aries Agro Limited, Annual General Meeting, Sep 29, 2023. Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: ₹3.65 (vs ₹5.39 in 1Q 2023) First quarter 2024 results: EPS: ₹3.65 (down from ₹5.39 in 1Q 2023). Revenue: ₹1.07b (down 5.0% from 1Q 2023). Net income: ₹47.5m (down 32% from 1Q 2023). Profit margin: 4.4% (down from 6.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Aug 03
Aries Agro Limited to Report Q1, 2024 Results on Aug 10, 2023 Aries Agro Limited announced that they will report Q1, 2024 results on Aug 10, 2023 Aankondiging • May 25
Aries Agro Limited Recommends Dividend for the Year 2022-2023 The board of director of Aries Agro Limited at the AGM held on May 23, 2023, considered and recommended Dividend of 10 % being INR 1.00 per Equity Share of INR 10.00 each for the Financial Year 2022-23, the same is subject To Approve the Members of the Company at the upcoming Annual General Meeting. Reported Earnings • May 25
Full year 2023 earnings released: EPS: ₹13.17 (vs ₹10.22 in FY 2022) Full year 2023 results: EPS: ₹13.17 (up from ₹10.22 in FY 2022). Revenue: ₹4.81b (up 9.3% from FY 2022). Net income: ₹171.3m (up 29% from FY 2022). Profit margin: 3.6% (up from 3.0% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improved over the past week After last week's 25% share price gain to ₹214, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 225% over the past three years. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improved over the past week After last week's 15% share price gain to ₹174, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 190% over the past three years. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹11.05 (vs ₹8.58 in 2Q 2022) Second quarter 2023 results: EPS: ₹11.05 (up from ₹8.58 in 2Q 2022). Revenue: ₹1.42b (up 12% from 2Q 2022). Net income: ₹143.7m (up 29% from 2Q 2022). Profit margin: 10% (up from 8.8% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: ₹11.05 (vs ₹8.58 in 2Q 2022) Second quarter 2023 results: EPS: ₹11.05 (up from ₹8.58 in 2Q 2022). Revenue: ₹1.42b (up 12% from 2Q 2022). Net income: ₹143.7m (up 29% from 2Q 2022). Profit margin: 10% (up from 8.8% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 14
Upcoming dividend of ₹0.80 per share Eligible shareholders must have bought the stock before 21 September 2022. Payment date: 20 October 2022. Payout ratio is a comfortable 7.2% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.7%). Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: ₹5.39 (vs ₹4.48 in 1Q 2022) First quarter 2023 results: EPS: ₹5.39 (up from ₹4.48 in 1Q 2022). Revenue: ₹1.17b (up 17% from 1Q 2022). Net income: ₹70.1m (up 21% from 1Q 2022). Profit margin: 6.0% (up from 5.8% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 27
Full year 2022 earnings released: EPS: ₹10.22 (vs ₹13.81 in FY 2021) Full year 2022 results: EPS: ₹10.22 (down from ₹13.81 in FY 2021). Revenue: ₹4.44b (up 16% from FY 2021). Net income: ₹132.9m (down 26% from FY 2021). Profit margin: 3.0% (down from 4.7% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 17% per year. Reported Earnings • Feb 10
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: EPS: ₹2.61 (down from ₹3.63 in 3Q 2021). Revenue: ₹1.30b (up 21% from 3Q 2021). Net income: ₹33.9m (down 28% from 3Q 2021). Profit margin: 2.6% (down from 4.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.0%. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 13
Second quarter 2022 earnings released: EPS ₹8.58 (vs ₹9.27 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹1.27b (up 6.9% from 2Q 2021). Net income: ₹111.6m (down 7.4% from 2Q 2021). Profit margin: 8.8% (down from 10% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 14% per year. Upcoming Dividend • Sep 07
Upcoming dividend of ₹0.80 per share Eligible shareholders must have bought the stock before 14 September 2021. Payment date: 20 October 2021. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.7%). Reported Earnings • Aug 12
First quarter 2022 earnings released: EPS ₹4.48 (vs ₹4.36 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2022 results: Revenue: ₹1.02b (up 17% from 1Q 2021). Net income: ₹58.2m (up 2.6% from 1Q 2021). Profit margin: 5.7% (down from 6.5% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 11% per year. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹144, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 33% over the past three years.