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Aarti Industries BSE:524208 Stock Report

Last Price


Market Cap







25 Jun, 2022


Company Financials +
524208 fundamental analysis
Snowflake Score
Future Growth1/6
Past Performance5/6
Financial Health6/6

524208 Stock Overview

Aarti Industries Limited manufactures and sells specialty chemicals and pharmaceuticals in India.

Aarti Industries Competitors













Price History & Performance

Summary of all time highs, changes and price drops for Aarti Industries
Historical stock prices
Current Share Price₹712.15
52 Week High₹1,168.40
52 Week Low₹669.00
1 Month Change-5.02%
3 Month Change-22.67%
1 Year Change-17.10%
3 Year Change60.16%
5 Year Change209.93%
Change since IPO50,919.71%

Recent News & Updates

Shareholder Returns

524208IN ChemicalsIN Market

Return vs Industry: 524208 underperformed the Indian Chemicals industry which returned -1.5% over the past year.

Return vs Market: 524208 underperformed the Indian Market which returned -0.9% over the past year.

Price Volatility

Is 524208's price volatile compared to industry and market?
524208 volatility
524208 Average Weekly Movement4.7%
Chemicals Industry Average Movement6.8%
Market Average Movement6.9%
10% most volatile stocks in IN Market9.9%
10% least volatile stocks in IN Market4.5%

Stable Share Price: 524208 is less volatile than 75% of Indian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 524208's weekly volatility (5%) has been stable over the past year.

About the Company

19847,000Rajendra Gogri

Aarti Industries Limited manufactures and sells specialty chemicals and pharmaceuticals in India. It offers di chloro benzene, nitro chloro and nitro benzene, nitro toluenes, sulphur, and other organic and inorganic products that are used in the manufacture of intermediates with applications in agrochemicals, pharmaceuticals, polymer additives, fuel additives, FMCG, dyes, pigments, paints, printing inks, rubber chemicals, resins, and other speciality chemical applications. The company also provides active pharmaceutical ingredients, which have applications in anti-hypertensive, anti asthamatic, anti-cancer, anti thalassaemic, analgesic, ophthalmologic, and calcimimetics; central nervous system agents; and skin care and decongestant products.

Aarti Industries Fundamentals Summary

How do Aarti Industries's earnings and revenue compare to its market cap?
524208 fundamental statistics
Market Cap₹258.16b
Earnings (TTM)₹13.07b
Revenue (TTM)₹70.00b


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
524208 income statement (TTM)
Cost of Revenue₹32.94b
Gross Profit₹37.06b
Other Expenses₹23.99b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date


Earnings per share (EPS)36.06
Gross Margin52.95%
Net Profit Margin18.67%
Debt/Equity Ratio37.5%

How did 524208 perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is 524208 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 524208?

Other financial metrics that can be useful for relative valuation.

524208 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue4x
Enterprise Value/EBITDA14.4x
PEG Ratio16.5x

Price to Earnings Ratio vs Peers

How does 524208's PE Ratio compare to its peers?

524208 PE Ratio vs Peers
The above table shows the PE ratio for 524208 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average57.3x

Price-To-Earnings vs Peers: 524208 is good value based on its Price-To-Earnings Ratio (19.7x) compared to the peer average (57.3x).

Price to Earnings Ratio vs Industry

How does 524208's PE Ratio compare vs other companies in the Indian Chemicals Industry?

Price-To-Earnings vs Industry: 524208 is expensive based on its Price-To-Earnings Ratio (19.7x) compared to the Indian Chemicals industry average (16.9x)

Price to Earnings Ratio vs Fair Ratio

What is 524208's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

524208 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.7x
Fair PE Ratio16.8x

Price-To-Earnings vs Fair Ratio: 524208 is expensive based on its Price-To-Earnings Ratio (19.7x) compared to the estimated Fair Price-To-Earnings Ratio (16.8x).

Share Price vs Fair Value

What is the Fair Price of 524208 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 524208 (₹712.15) is trading above our estimate of fair value (₹567.41)

Significantly Below Fair Value: 524208 is trading above our estimate of fair value.

Price to Earnings Growth Ratio

PEG Ratio: 524208 is poor value based on its PEG Ratio (16.5x)

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Future Growth

How is Aarti Industries forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

Future Growth Score


Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 524208's forecast earnings growth (1.2% per year) is below the savings rate (6.7%).

Earnings vs Market: 524208's earnings (1.2% per year) are forecast to grow slower than the Indian market (17.4% per year).

High Growth Earnings: 524208's earnings are forecast to grow, but not significantly.

Revenue vs Market: 524208's revenue (11.8% per year) is forecast to grow faster than the Indian market (11.5% per year).

High Growth Revenue: 524208's revenue (11.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 524208's Return on Equity is forecast to be low in 3 years time (15.5%).

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Past Performance

How has Aarti Industries performed over the past 5 years?

Past Performance Score


Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 524208 has a high level of non-cash earnings.

Growing Profit Margin: 524208's current net profit margins (18.7%) are higher than last year (11.6%).

Past Earnings Growth Analysis

Earnings Trend: 524208's earnings have grown significantly by 23.8% per year over the past 5 years.

Accelerating Growth: 524208's earnings growth over the past year (149.7%) exceeds its 5-year average (23.8% per year).

Earnings vs Industry: 524208 earnings growth over the past year (149.7%) exceeded the Chemicals industry 29.6%.

Return on Equity

High ROE: 524208's Return on Equity (22.1%) is considered high.

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Financial Health

How is Aarti Industries's financial position?

Financial Health Score


Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 524208's short term assets (₹32.7B) exceed its short term liabilities (₹23.4B).

Long Term Liabilities: 524208's short term assets (₹32.7B) exceed its long term liabilities (₹14.2B).

Debt to Equity History and Analysis

Debt Level: 524208's net debt to equity ratio (33.1%) is considered satisfactory.

Reducing Debt: 524208's debt to equity ratio has reduced from 109.7% to 37.5% over the past 5 years.

Debt Coverage: 524208's debt is well covered by operating cash flow (21.2%).

Interest Coverage: 524208's interest payments on its debt are well covered by EBIT (16.3x coverage).

Balance Sheet

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What is Aarti Industries's current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 524208's dividend (0.49%) is higher than the bottom 25% of dividend payers in the Indian market (0.43%).

High Dividend: 524208's dividend (0.49%) is low compared to the top 25% of dividend payers in the Indian market (1.89%).

Stability and Growth of Payments

Stable Dividend: 524208's dividend payments have been volatile in the past 10 years.

Growing Dividend: 524208's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (9.7%), 524208's dividend payments are thoroughly covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: 524208 is paying a dividend but the company has no free cash flows.

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How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Rajendra Gogri (62 yo)





Mr. Rajendra Vallabhaji Gogri has been the Managing Director of Aarti Industries Ltd. since July 1, 1993. Mr. Gogri has been a Non-Executive Independent Director of Prince Pipes and Fittings Limited since...

CEO Compensation Analysis

Compensation vs Market: Rajendra's total compensation ($USD701.29K) is about average for companies of similar size in the Indian market ($USD643.30K).

Compensation vs Earnings: Rajendra's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: 524208's management team is seasoned and experienced (9 years average tenure).

Board Members

Experienced Board: 524208's board of directors are seasoned and experienced ( 15.9 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4%.

Top Shareholders

Company Information

Aarti Industries Limited's employee growth, exchange listings and data sources

Key Information

  • Name: Aarti Industries Limited
  • Ticker: 524208
  • Exchange: BSE
  • Founded: 1984
  • Industry: Specialty Chemicals
  • Sector: Materials
  • Implied Market Cap: ₹258.157b
  • Shares outstanding: 362.50m
  • Website:

Number of Employees


  • Aarti Industries Limited
  • 71, Udyog Kshetra
  • 2nd Floor
  • Mumbai
  • Maharashtra
  • 400080
  • India


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/25 00:00
End of Day Share Price2022/06/24 00:00
Annual Earnings2022/03/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.