Aarti Pharmalabs Limited
NSE: AARTIPHARM · Pharmaceuticals · sector
₹823.10NSE close 2026-10-26
Key numbers
Market cap₹7,464 cr
Price₹823.10
52w high / low₹1,002 / ₹585
P/E35.0xSector median 27.9x
P/B3.5xSector median 2.9x
Book value₹234.3
Dividend yield0.48%Sector median 0.48%
ROE10.3%Sector median 11.7%
ROCE11.4%Sector median 12.3%
OPM21.5%Sector median 14.0%
Debt / equity0.32xSector median 0.16x
EV/EBITDA19.2xSector median 18.6x
Interest cover6.0x
Current ratio1.49x
Sales growth 3y-2.2%Sector median +9.6%
Profit growth 3y-3.7%Sector median +13.3%
PEG–
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 ₹10 cr vs borrowings ₹686 cr (FY26): borrowings are higher by ₹676 cr.
- Borrowings rose in each of the last 3 years (₹214 cr → ₹686 cr).
- Operating profit covered interest 6.0x in the last 12 months.
- 11.98% of the promoters' shares are pledged (4.8% of all shares).
- Promoter holding fell by 3.22 percentage points in a year, to 39.66% (2026-09-30).
- Operating cash flow was below net profit in 1 of the last 4 years (FY24).
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 4% of net profit in the last 12 months.
- Debtor days went from 102 (FY24) to 117 (FY26).
- Dividend paid in 3 of the last 4 financial years.
- Price ₹823.10 on 2026-10-26: -17.9% from the 52-week high, +40.7% 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 ₹968.50 · low ₹571.20
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 458 | 538 | 564 | 386 | 418 | 432 | 583 | 536 |
| EBITDA | 94 | 129 | 146 | 95 | 75 | 100 | 113 | 136 |
| OPM % | 20.5% | 23.9% | 25.8% | 24.7% | 17.9% | 23.0% | 19.4% | 25.4% |
| Other income | 4 | 5 | -2 | 2 | 0 | -0 | 8 | 0 |
| Net profit | 55 | 74 | 88 | 50 | 29 | 46 | 61 | 76 |
| EPS (₹) | 6.03 | 8.16 | 9.75 | 5.46 | 3.08 | 5.29 | 6.74 | 8.40 |
| Revenue YoY | -8.7% | -19.6% | +3.3% | +38.7% | ||||
| Profit YoY | -47.7% | -37.3% | -30.8% | +53.8% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|
| Revenue | 1,945 | 1,853 | 2,115 | 1,819 | 1,969 |
| EBITDA | 342 | 386 | 464 | 366 | 423 |
| Net profit | 193 | 216 | 272 | 173 | 212 |
| EPS (₹) | 21.35 | 23.93 | 30.06 | 19.27 | 23.51 |
| Revenue growth | -4.8% | +14.2% | -14.0% | +1.2% | |
| Profit growth | +11.9% | +25.8% | -36.6% | -20.4% | |
| Dividend / share (₹) | – | 2.00 | 3.50 | 4.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -2.2% | – | +1.2% |
| Net profit | -3.7% | – | -20.4% |
| EPS | -3.4% | – | – |
| Share price | – | +18.4% (2y) | -0.4% |
Balance sheet
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Shareholders' equity | 1,558 | 1,757 | 1,990 | 2,125 |
| Borrowings | 214 | 264 | 396 | 686 |
| Cash & equivalents | 63 | 94 | 56 | 10 |
| Total assets | 2,231 | 2,582 | 2,906 | 3,482 |
| Fixed assets | 923 | 1,015 | 1,104 | 1,336 |
| Capital work in progress | 62 | 78 | 307 | 305 |
| Investments | 36 | 0 | 29 | 194 |
| Receivables | 440 | 519 | 575 | 583 |
| Inventory | 602 | 643 | 588 | 640 |
| Payables | 347 | 378 | 278 | 335 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Cash from operations | 263 | 216 | 332 | 262 |
| Cash from investing | -158 | -215 | -414 | -431 |
| Cash from financing | -163 | 10 | 65 | 171 |
| Capex | 120 | 199 | 444 | 448 |
| Free cash flow | 143 | 18 | -112 | -186 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| ROE % | 12.4% | 12.3% | 13.7% | 8.1% |
| ROCE % | 15.9% | 15.7% | 16.2% | 9.7% |
| Debtor days | 83 | 102 | 99 | 117 |
| Inventory days | 188 | 230 | 190 | 280 |
| Payable days | 108 | 135 | 90 | 146 |
| Cash conversion cycle (days) | 163 | 197 | 199 | 251 |
| Working capital days | 106 | 128 | 115 | 92 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 39.66% |
| FIIs | 8.15% |
| DIIs | 8.40% |
| of which Mutual funds | 0.60% |
| of which Insurance | 4.75% |
| Government | 0.01% |
| Public (non-institutions) | 43.78% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 44.66% | 44.29% | 43.72% | 42.88% | 43.10% | 43.08% | 42.86% | 39.66% |
| Promoter group | % |
|---|---|
| Rashesh Chandrakant Gogri | 4.23% |
| Jaya Chandrakant Gogri | 3.53% |
| Anushakti Enterprise Private Limited | 3.30% |
| LABDHI BUSINESS TRUST(Saswat Trusteeship Private Limited) | 3.13% |
| Hetal Gogri Gala | 3.11% |
| Mirik Rajendra Gogri | 3.07% |
| Renil Rajendra Gogri | 2.80% |
| Sarla Shantilal Shah | 2.69% |
| MANOMAYA BUSINESS TRUST(Alabhya Trusteeship Private Limited) | 1.44% |
| Nehal Garewal | 1.24% |
| Rajendra Vallabhaji Gogri | 1.14% |
| Heena Family Private Trust(Barclays Wealth Trustees India Private Limited) | 0.92% |
| Bhavna Family Private Trust(Barclays Wealth Trustees India Pvt Ltd) | 0.89% |
| Nikhil Parimal Desai | 0.74% |
| Alchemie Financial Services Limited | 0.74% |
| Public holders above 1% | % |
|---|---|
| Life Insurance Corporation Of India | 4.72% |
| Nishant Pradip Shah | 1.10% |
1,74,329 shareholders. Pledged: 11.98% 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% |
| AARTIPHARM | ₹7,464 cr | 35.0x | 3.5x | 10.3% | 11.4% | 21.5% | -2.2% | 0.48% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-15 | Dividend | Dividend - Rs 2 Per Share |
| 2026-02-16 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2025-09-15 | Dividend | Dividend - Rs 2.50 Per Share |
| 2025-02-14 | Dividend | Interim Dividend - Rs 2.50 Per Share |
| 2024-07-31 | Dividend | Dividend - Re 1 Per Share |
| 2024-02-16 | Dividend | Interim Dividend - Rs 2 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- 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 and Nutraceuticals: Development of Active Pharmaceutical Ingredients (API) and New Chemical Entities (NCE), API intermediates, Regulatory Starting Materials (RSM), Basic Starting Materials, Key Building Blocks, and Xanthine Derivatives for use in clinical testing and commercial production.
| Sector | Healthcare |
| Industry | Pharmaceuticals |
| Sub-industry | Pharmaceuticals |
| Symbol | AARTIPHARM |
| BSE code | 543748 |
| ISIN | INE0LRU01027 |
| Face value | ₹5.0 |
| Incorporated | 2019-11-22 |
| Website | www.aartipharmalabs.com |
| Plants (India / abroad) | 15 / 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.