Aarti Industries Ltd

NSE: AARTIIND · Specialty Chemicals · sector

₹428.40NSE close 2026-10-26

Key numbers

Market cap₹15,539 cr

Price₹428.40

52w high / low₹552 / ₹338

P/E29.3xSector median 22.6x

P/B2.6xSector median 2.6x

Book value₹164.2

Dividend yield0.24%Sector median 0.60%

ROE9.2%Sector median 10.6%

ROCE8.0%Sector median 12.9%

OPM14.9%Sector median 12.1%

Debt / equity0.83xSector median 0.18x

EV/EBITDA14.8xSector median 15.1x

Interest cover2.4x

Current ratio0.83x

Sales growth 3y+7.8%Sector median +5.0%

Profit growth 3y-8.4%Sector median +0.9%

PEG–

Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 107 companies in Specialty Chemicals (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹608 cr vs borrowings ₹4,921 cr (FY26): borrowings are higher by ₹4,313 cr.
Borrowings rose in each of the last 3 years (₹2,874 cr → ₹4,921 cr).
Operating profit covered interest 2.4x in the last 12 months.
3.57% of the promoters' shares are pledged (1.5% of all shares).
Operating cash flow was below net profit in 1 of the last 5 years (FY22).
Revenue was higher than a year earlier in 4 of the last 4 quarters.
Other income was 1% of net profit in the last 12 months.
Debtor days went from 47 (FY24) to 62 (FY26).
Dividend paid in 5 of the last 5 financial years.
Price ₹428.40 on 2026-10-26: -22.4% from the 52-week high, +26.7% 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 ₹582.95 · low ₹346.45

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	1,628	1,840	1,949	1,676	2,100	2,319	2,206	2,387
EBITDA	199	232	269	212	313	306	343	384
OPM %	12.3%	12.6%	13.8%	12.7%	14.9%	13.2%	15.5%	16.1%
Other income	5	5	-3	4	0	2	-1	3
Net profit	52	46	96	48	106	133	137	155
EPS (₹)	1.44	1.27	2.64	1.19	2.91	3.67	3.79	4.27
Revenue YoY					+29.0%	+26.0%	+13.2%	+42.5%
Profit YoY					+102.5%	+189.0%	+43.3%	+222.9%

Consolidated figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY22	FY23	FY24	FY25	FY26	TTM
Revenue	7,000	6,619	6,372	7,271	8,286	9,012
EBITDA	1,929	1,089	977	1,003	1,174	1,346
Net profit	1,307	545	416	331	419	531
EPS (₹)	36.06	15.04	11.49	9.13	11.56	14.64
Revenue growth		-5.4%	-3.7%	+14.1%	+14.0%	+27.1%
Profit growth		-58.3%	-23.6%	-20.6%	+26.7%	+119.4%
Dividend / share (₹)	3.50	2.50	1.50	1.00	1.00

Compounded growth	3 years	5 years	Last 12 months
Sales	+7.8%	+13.0%	+27.1%
Net profit	-8.4%	-4.4%	+119.4%
EPS	-8.4%	-17.4%	–
Share price	–	-4.6% (2y)	+23.8%

Balance sheet

₹ cr	FY22	FY23	FY24	FY25	FY26
Shareholders' equity	–	4,920	5,290	5,605	5,955
Borrowings	–	2,874	3,184	3,790	4,921
Cash & equivalents	–	201	130	295	608
Total assets	–	8,581	9,616	11,114	13,300
Fixed assets	–	4,859	5,641	6,329	6,265
Capital work in progress	–	989	1,052	1,274	2,030
Investments	–	17	23	48	132
Receivables	–	940	826	786	1,403
Inventory	–	1,031	1,160	1,454	1,732
Payables	–	405	521	1,237	1,841

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	471	1,310	1,204	1,242	781
Cash from investing	-1,305	-1,330	-1,310	-1,398	-1,142
Cash from financing	679	47	35	-73	745
Capex	1,307	1,326	1,328	1,386	1,124
Free cash flow	-836	-16	-124	-144	-343

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY22	FY23	FY24	FY25	FY26
ROE %	–	11.1%	7.9%	5.9%	7.0%
ROCE %	–	10.0%	7.2%	6.2%	6.5%
Debtor days	–	52	47	39	62
Inventory days	–	98	109	114	118
Payable days	–	38	49	97	126
Cash conversion cycle (days)	–	112	107	56	54
Working capital days	–	-18	-6	-29	-38

Shareholding

Holder	% (2026-09-30)
Promoters	41.82%
FIIs	6.96%
DIIs	20.89%
of which Mutual funds	12.00%
of which Insurance	8.15%
Government	0.01%
Public (non-institutions)	30.31%

Quarter	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters %	42.35%	42.24%	42.24%	42.18%	42.14%	42.09%	41.82%	41.82%

Promoter group	%
Rashesh Chandrakant Gogri	4.09%
Mirik Rajendra Gogri	3.08%
Renil Rajendra Gogri	3.08%
Hetal Gogri Gala	2.75%
Anushakti Enterprise Private Limited	2.75%
Jaya Chandrakant Gogri	2.70%
Sarla Shantilal Shah	2.56%
Labdhi Business Trust (Saswat Trusteeship Private Limited)	2.07%
Tulip Family Trust (Gloire Trusteeship Services Private Limited)	1.82%
Orchid Family Trust (Relacion Trusteeship Services Private Limited)	1.82%
Safechem Enterprises Private Limited	1.61%
Rajendra Vallabhaji Gogri	1.57%
Nehal Garewal	1.00%
HEENA FAMILY PRIVATE TRUST (Barclays Wealth Trustees India Private Limited)	0.92%
Nikhil Parimal Desai	0.83%

Public holders above 1%	%
Life Insurance Corporation of India	6.80%
ICICI Prudential	4.42%
HDFC Mutual Fund	2.51%
Nippon Life India Trustee Ltd	1.65%
Mahindra Manulife	1.19%

3,69,143 shareholders. Pledged: 3.57% of promoter shares.

Peers in Specialty Chemicals

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
PIDILITIND	₹1,50,431 cr	56.8x	13.9x	25.7%	33.4%	24.5%	+7.4%	1.01%
FLUOROCHEM	₹46,168 cr	75.4x	5.9x	8.1%	10.0%	25.6%	-4.2%	0.07%
NAVINFLUOR	₹39,306 cr	49.7x	9.9x	23.9%	22.2%	33.7%	+16.8%	0.18%
DEEPAKNTR	₹19,676 cr	25.1x	3.4x	14.0%	15.3%	15.4%	-0.4%	0.52%
AETHER	₹19,529 cr	82.8x	8.0x	10.1%	11.4%	30.9%	+21.2%	–
ATUL	₹15,762 cr	19.8x	2.5x	11.9%	16.9%	17.9%	+7.9%	0.47%
AARTIIND	₹15,539 cr	29.3x	2.6x	9.2%	8.0%	14.9%	+7.8%	0.24%
FINEORG	₹15,328 cr	35.0x	5.8x	17.7%	21.3%	21.7%	-7.8%	0.22%
BASF	₹13,174 cr	20.5x	3.3x	16.9%	22.0%	5.9%	+3.1%	0.66%
PRIVISCL	₹13,109 cr	37.5x	9.3x	27.6%	22.6%	24.9%	+16.8%	0.15%

All 107 companies in Specialty Chemicals →

Dividends & corporate actions

Ex-date	Action	Detail
2026-09-11	Dividend	Dividend - Re 1 Per Share
2025-08-18	Dividend	Dividend - Re 1 Per Share
2024-07-26	Dividend	Dividend - Re 1 Per Share
2023-07-28	Dividend	Dividend - Rs 1.50 Per Share
2023-02-15	Dividend	Interim Dividend - Re 1 Per Share
2022-10-19	Restructuring	Demerger
2022-09-16	Dividend	Dividend - Rs 1.50 Per Share
2022-02-15	Dividend	Interim Dividend - Re 1 Per Share
2021-11-10	Dividend	Interim Dividend - Re 1 Per Share
2021-09-20	Dividend	Dividend - Rs 1.50 Per Share
2021-06-22	Bonus	Bonus 1:1
2020-11-19	Dividend	Interim Dividend - Rs 1.50 Per Share
2020-09-10	Dividend	Dividend - Re 1 Per Share
2020-02-24	Dividend	Interim Dividend - Rs 2.5 Per Share
2019-09-27	Bonus	Bonus 1:1
2019-08-27	Dividend	Annual General Meeting/Dividend - Rs 7 Per Share
2019-07-03	Restructuring	Scheme Of Demerger
2019-02-12	Dividend	Interim Dividend - Rs 4 Per Share
2018-09-11	Dividend	Annual General Meeting/Dividend- Re 1 Per Share
2018-01-04	Buyback	Buyback

Documents

Links go to the original files on the exchange website.

About the company

Manufacturing of speciality chemical: Manufacturing, Distributing, Trading, sales and marketing


Sector	Commodities
Industry	Specialty Chemicals
Sub-industry	Specialty Chemicals
Symbol	AARTIIND
BSE code	524208
ISIN	INE769A01020
Face value	₹5.0
Incorporated	1984-09-28
Website	www.aartiindustries.com
Plants (India / abroad)	16 / 0

From the company's filings (BRSR FY26).

Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.