Aarti Drugs Ltd.
NSE: AARTIDRUGS · Pharmaceuticals · sector
₹379.35NSE close 2026-10-26
Key numbers
Market cap₹3,462 cr
Price₹379.35
52w high / low₹534 / ₹319
P/E18.1xSector median 27.9x
P/B2.2xSector median 2.9x
Book value₹169.7
Dividend yield0.52%Sector median 0.48%
ROE13.1%Sector median 11.7%
ROCE12.4%Sector median 12.3%
OPM12.4%Sector median 14.0%
Debt / equity0.37xSector median 0.16x
EV/EBITDA12.2xSector median 18.6x
Interest cover7.7x
Current ratio1.59x
Sales growth 3y-1.9%Sector median +9.6%
Profit growth 3y+5.4%Sector median +13.3%
PEG3.05x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 185 companies in Pharmaceuticals (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹9 cr vs borrowings ₹575 cr (FY26): borrowings are higher by ₹566 cr.
- Operating profit covered interest 7.7x in the last 12 months.
- 2.51% of the promoters' shares are pledged (1.4% of all shares).
- Promoter holding fell by 0.65 percentage points in a year, to 54.07% (2026-09-30).
- Operating cash flow was below net profit in 2 of the last 5 years (FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 2% of net profit in the last 12 months.
- Debtor days went from 102 (FY24) to 118 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹379.35 on 2026-10-26: -29.0% from the 52-week high, +18.9% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹539.05 · low ₹322.40
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 598 | 557 | 677 | 591 | 653 | 602 | 720 | 703 |
| EBITDA | 67 | 62 | 93 | 74 | 84 | 55 | 96 | 96 |
| OPM % | 11.2% | 11.1% | 13.8% | 12.5% | 12.9% | 9.1% | 13.3% | 13.7% |
| Other income | 1 | 12 | 2 | 0 | 0 | 1 | 1 | 1 |
| Net profit | 35 | 37 | 63 | 54 | 45 | 41 | 55 | 50 |
| EPS (₹) | 3.83 | 4.06 | 6.88 | 5.91 | 4.95 | 4.44 | 6.05 | 5.49 |
| Revenue YoY | +9.1% | +8.1% | +6.4% | +19.0% | ||||
| Profit YoY | +29.3% | +9.4% | -12.2% | -6.9% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,489 | 2,716 | 2,529 | 2,387 | 2,565 | 2,678 |
| EBITDA | 329 | 306 | 316 | 287 | 309 | 331 |
| Net profit | 205 | 166 | 171 | 168 | 195 | 191 |
| EPS (₹) | 22.12 | 17.97 | 18.56 | 18.35 | 21.36 | 20.93 |
| Revenue growth | +9.1% | -6.9% | -5.6% | +7.5% | +10.5% | |
| Profit growth | -18.9% | +3.1% | -1.9% | +15.9% | +1.2% | |
| Dividend / share (₹) | 1.00 | 1.00 | 1.00 | 1.00 | 2.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -1.9% | +3.5% | +10.5% |
| Net profit | +5.4% | -7.0% | +1.2% |
| EPS | +5.9% | -6.6% | – |
| Share price | – | -11.4% (2y) | -24.7% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,192 | 1,282 | 1,369 | 1,549 |
| Borrowings | – | 607 | 562 | 612 | 575 |
| Cash & equivalents | – | 9 | 9 | 8 | 9 |
| Total assets | – | 2,421 | 2,432 | 2,575 | 2,815 |
| Fixed assets | – | 675 | 808 | 856 | 1,068 |
| Capital work in progress | – | 210 | 225 | 330 | 214 |
| Investments | – | 19 | 20 | 22 | 27 |
| Receivables | – | 865 | 705 | 751 | 830 |
| Inventory | – | 516 | 486 | 473 | 491 |
| Payables | – | 480 | 425 | 416 | 478 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 70 | 134 | 359 | 245 | 254 |
| Cash from investing | -149 | -164 | -224 | -165 | -173 |
| Cash from financing | 92 | 17 | -136 | -82 | -77 |
| Capex | 144 | 165 | 226 | 177 | 173 |
| Free cash flow | -74 | -30 | 133 | 67 | 80 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 13.9% | 13.4% | 12.3% | 12.6% |
| ROCE % | – | 14.3% | 14.6% | 12.5% | 11.5% |
| Debtor days | – | 116 | 102 | 115 | 118 |
| Inventory days | – | 100 | 106 | 112 | 111 |
| Payable days | – | 93 | 93 | 98 | 108 |
| Cash conversion cycle (days) | – | 123 | 115 | 129 | 121 |
| Working capital days | – | 75 | 76 | 77 | 78 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 54.07% |
| FIIs | 2.26% |
| DIIs | 10.24% |
| of which Mutual funds | 9.97% |
| of which Insurance | 0.08% |
| Public (non-institutions) | 33.43% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 55.38% | 55.48% | 55.22% | 54.72% | 55.03% | 55.03% | 54.43% | 54.07% |
| Promoter group | % |
|---|---|
| Prakash Moreshwar Patil | 9.62% |
| Harshit Manilal Savla | 4.73% |
| Rashesh Chandrakant Gogri | 4.64% |
| Priti Prakash Patil | 4.40% |
| Seema Harshit Savla | 3.83% |
| Gogri Finserv PVT. Ltd. | 3.80% |
| Hetal Gogri Gala | 3.05% |
| Anushakti Enterprise Private Limited | 2.62% |
| Alchemie Finserv PVT. Ltd. | 2.21% |
| Chandrakant Vallabhaji Gogri | 1.87% |
| Jaya Chandrakant Gogri | 1.71% |
| Aashyav Business Trust (Alabhya Trusteeship Private Limited) | 1.50% |
| Adhish P. Patil | 1.25% |
| Bhoomi Harshit Savla | 1.09% |
| Vishwa Harshit Savla | 1.03% |
| Public holders above 1% | % |
|---|---|
| DSP Small CAP Fund | 7.93% |
| Harit Pragji Shah | 2.67% |
| ICICI Prudential Healthcare Fund | 2.03% |
| Jayshree Harit Shah | 1.78% |
1,39,949 shareholders. Pledged: 2.51% of promoter shares.
Peers in Pharmaceuticals
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| SUNPHARMA | ₹4,17,478 cr | 34.5x | 5.0x | 15.5% | 18.7% | 28.6% | +10.0% | 0.94% |
| DIVISLAB | ₹2,39,825 cr | 82.1x | 14.3x | 18.4% | 23.0% | 34.7% | +10.8% | 0.34% |
| TORNTPHARM | ₹1,53,999 cr | 72.7x | 18.4x | 27.3% | 15.1% | 32.3% | +13.3% | 0.84% |
| ZYDUSLIFE | ₹1,15,808 cr | 25.9x | 4.3x | 17.7% | 16.8% | 27.2% | +16.4% | 0.95% |
| LAURUSLABS | ₹1,11,232 cr | 101.6x | 21.0x | 22.4% | 20.8% | 28.0% | +4.1% | 0.08% |
| CIPLA | ₹1,09,464 cr | 32.5x | 3.2x | 10.3% | 13.2% | 17.7% | +7.4% | 1.18% |
| DRREDDY | ₹1,09,460 cr | 33.9x | 2.9x | 9.0% | 10.1% | 15.5% | +11.0% | 0.61% |
| MANKIND | ₹95,486 cr | 46.7x | 5.9x | 13.4% | 13.8% | 25.1% | +17.7% | 0.04% |
| AUROPHARMA | ₹91,489 cr | 24.9x | 2.4x | 10.5% | 12.8% | 20.0% | +10.6% | 0.26% |
| AARTIDRUGS | ₹3,462 cr | 18.1x | 2.2x | 13.1% | 12.4% | 12.4% | -1.9% | 0.52% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-02-09 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2025-02-04 | Dividend | Interim Dividend - Re 1 Per Share |
| 2024-09-05 | Buyback | Buy Back |
| 2024-02-06 | Dividend | Interim Dividend - Re 1 Per Share |
| 2023-08-04 | Buyback | Buy Back |
| 2023-02-08 | Dividend | Interim Dividend - Rs 1 Per Share |
| 2022-02-09 | Dividend | Interim Dividend - Re 1 Per Share |
| 2021-03-30 | Buyback | Buyback |
| 2020-11-03 | Dividend | Interim Dividend - Rs 2.5 Per Share |
| 2020-09-30 | Bonus | Bonus 3:1 |
| 2020-02-17 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2019-07-26 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2019-03-28 | Buyback | Buyback |
| 2018-08-01 | Dividend | Annual General Meeting/Dividend- Re 1 Per Share |
| 2018-01-18 | Buyback | Buyback |
| 2017-08-09 | Dividend | Annual General Meeting/Dividend - Re 1/- Per Share |
| 2016-11-01 | Buyback | Buy Back |
| 2016-07-13 | Other | Annual General Meeting |
| 2016-03-22 | Dividend | Interim Dividend - Rs 3/- Per Share (Purpose Revised) |
| 2016-02-12 | Dividend | Interim Dividend - Rs 1.50/- Per Share (Purpose Revised) |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing of Pharmaceuticals: Manufacturing and Marketing of Pharmaceuticals and Chemical products
| Sector | Healthcare |
| Industry | Pharmaceuticals |
| Sub-industry | Pharmaceuticals |
| Symbol | AARTIDRUGS |
| BSE code | 524348 |
| ISIN | INE767A01016 |
| Face value | ₹10.0 |
| Incorporated | 1984-09-28 |
| Website | www.aartidrugs.com |
| Plants (India / abroad) | 13 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.