AARTIINDChemicals

Aarti Industries Limited

Specialty Chemicals · ISIN INE769A01020 · BSE 524208 · NSE EQ · FV ₹5
Last price
₹448
+1.91%today
What this company does

Aarti Industries Limited operates in Specialty Chemicals, part of the Chemicals sector. It booked ₹3,668 cr of revenue in its latest quarter (Q2 FY27) and kept 4.6% of sales as profit. It is the 6th largest of 9 Specialty Chemicals companies we track, by market value.

43out of 100
Equitytale Health Score
Strained

Healthier than 43% of companies in Chemicals, on all six measures of filed financials. Each measure is ranked against the 11–46 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
40

At close. Not part of the score.

Profitability & returns39

How much profit it earns on the money it employs

Balance sheet17

How much it owes, and whether earnings cover the interest

Cash quality43

Whether reported profit actually arrives as cash

Growth & consistency61

Whether sales and profit have grown, and how steadily

Valuation40

What today's price implies, against our models or its peers

Governance & risk84

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 75% vs last year
✓ Profit up 59% vs last year
✓ Promoters hold 42%
✓ Turns profit into real cash
Watch-outs
! Thin 4.6% net margin
! 3.6% of promoter stake pledged

What if I invest in AARTIIND?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹448▲ +1.91%
latest close · 2026-11-04
1-year return
-59.7%
52-wk low ₹41952-wk high ₹1,168
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio24.1Average
LowAverageHigh
P/B ratio2.59Moderate
Below bookModerateHigh
EV / EBITDA12.5Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity10.7%Fair
WeakFairStrong ▸15%
Return on capital14.0%Fair
WeakFairStrong
Net margin4.6%Thin
ThinDecentStrong
EBITDA margin11.4%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.82Moderate
LowModerateHigh ▸1
Interest cover3.3×Okay
RiskyOkayStrong ▸5×
Current ratio0.83Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹16,234 cr
Book value
₹173
EPS
₹4.65
latest quarter
Net debt
₹4,679 cr
owes more than its cash
Enterprise value
₹20,913 cr
EBITDA
₹1,671 cr
annualised
EBIT
₹1,171 cr
annualised
Operating margin
8.0%
Return on assets
4.7%
Earnings yield
4.16%
P/S
1.11
Sales / share
₹404.5
Tax rate
16.6%
Face value
₹5
Shares
36.3 cr
Working capital
₹-982 cr
Current assets
₹4,932 cr
Current liabilities
₹5,914 cr
Delivery %
43.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the exchange filings
not investment advice
Looks overpricedMedium confidence
Median of 3 models ₹237 vs market price ₹448 — price is 89% above it
Safety cushion-89.0%(target ≥ +20%)
Models span ₹120–₹350, midpoint ₹237
Model ₹237
Price ₹448
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹3,668 cr
Other Income₹7 cr
Total Income₹3,676 cr
Cost of Materials₹2,569 cr
Purchases of Stock-in-Trade₹328 cr
Inventory Change (±)₹-266 cr
Employee Benefit Expense₹124 cr
Finance Costs₹88 cr
Depreciation & Amortisation₹125 cr
Other Expenses₹503 cr
Total Expenses₹3,471 cr
Profit before Tax₹204 cr
Tax Expense₹34 cr
Share of JV / Associates₹-2 cr
Net Profit₹169 cr
Net margin on total income4.6%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹2,631 cr71.6%
Employee benefit expense₹124 cr3.4%
Finance costs₹88 cr2.4%
Depreciation & amortisation₹125 cr3.4%
Other expenses₹503 cr13.7%
Tax expense₹34 cr0.9%
Profit for the period₹169 cr4.6%
Total income ₹3,676 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue2,206 cr2,387 cr3,668 cr
Total income2,205 cr2,390 cr3,676 cr
Expenses2,094 cr2,212 cr3,471 cr
Profit before tax111 cr180 cr204 cr
Tax-26 cr25 cr34 cr
Net profit (owners' share)137 cr155 cr168 cr
Net margin (owners' share, on revenue)6.2%6.5%4.6%
EPS (₹)3.794.274.65
YoY (latest quarter): total income +75.0% · net profit +58.8%
Balance sheet & cash flow · as of Sep 2026
Moderate debt
Total assets
₹14,279 cr
Shareholder equity
₹6,264 cr
parent shareholders
Total debt
₹5,146 cr
Cash
₹468 cr
Cash flow · H1 FY27
Operating
₹398 cr
Investing
₹-534 cr
Financing
₹21 cr
Peer comparison
Specialty Chemicals · by market value
CompanyPriceMarket capP/E
Pidilite Industries Limited₹1,511₹1.54 L cr62.5
Gujarat Fluorochemicals Limited₹4,464₹49,103 cr55.3
Navin Fluorine International Limited₹8,530₹43,759 cr40.6
Deepak Nitrite Limited₹1,521₹20,741 cr13.0
Aether Industries Limited₹1,501₹19,924 cr73.3
Aarti Industries Limitedthis company₹439₹15,930 cr23.6
Fine Organic Industries Limited₹5,089₹15,603 cr25.6
Atul Limited₹5,073₹14,935 cr24.0
BASF India Limited₹3,138₹13,584 cr9.8
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.22%
trailing 12 months
Dividend / share (TTM)
₹1
Last dividend
₹1
ex 11 Sep 2026
ActionDetailEx-date
Dividend₹1 / share11 Sep 2026
Dividend₹1 / share18 Aug 2025
Dividend₹1 / share26 Jul 2024
Dividend₹1.5 / share28 Jul 2023
Dividend₹1 / share15 Feb 2023
Dividend₹1.5 / share16 Sep 2022
Who owns it · 2026-09-30
⚑ 3.6% pledged
Promoter
41.8%
FII / Foreign
7.0%
DII / Domestic
20.9%
Retail / others
30.3%
Promoter stake down 1.7% over the last 12 quarters.
Smart-money activity
Insider trades
SoldLABDHI BUSINESS TRUST · Promoter Group8.00 L · ₹71.5 cr2 Sep 21
SoldJAYA CHANDRAKANT GOGRI · Promoter Group9.00 L · ₹80.5 cr2 Sep 21
SoldMANOMAYA BUSINESS TRUST · Promoter Group8.00 L · ₹71.5 cr2 Sep 21
Bulk / block deals
short— · NSE34526 Aug 26
short— · NSE121 Aug 26
short— · NSE654 Aug 26
Stake changes
SoldHDFC Mutual Fund→ 3.04% · 1.74 L30 Nov 21
BoughtJasmine Family Trust · promoter→ 0.79% · 13.75 L31 Mar 21
BoughtManomaya Business Trust · promoter→ 0.92% · 8.00 L1 Oct 19
Promoter pledges
ReleasedKotak Securities Ltd11,190 · 0.01% held30 Oct 20
PledgedKotak Securities Limited11,190 · 0.00% held4 Sep 20
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Special shareholder meeting · 31 Oct 2026
See the official result
1
To approve raising of funds in one or more tranches, by issuance of securities by way of private offerings, qualified institutions placement(s) and or any combination thereof or any other method as may be permitted under applicable law for an amount up to Rs. 1,000 crore.
Backed by 94% of shareholders other than promotersneeded 75%
10.82 cr votes for, 63.47 L against · 7% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 46 named members
owning 41.9% between them · as of 2026-09-30
RASHESH CHANDRAKANT GOGRI4.09%
MIRIK RAJENDRA GOGRI3.08%
RENIL RAJENDRA GOGRI3.08%
ANUSHAKTI ENTERPRISE PRIVATE LIMITED2.75%
HETAL GOGRI GALA2.75%
JAYA CHANDRAKANT GOGRI2.70%
Sarla Shantilal Shah2.56%
LABDHI BUSINESS TRUST (SASWAT TRUSTEESHIP PRIVATE LIMITED)2.07%
Business done with them
FY2025 · 1 of the group
The company paid ₹115 cr to companies in the promoter group last year — about 1.6% of its ₹7,271 cr revenue and received ₹304 cr back from them.
Valiant Organics Limited
Sold goods to them
also owns 0.01% of the company
₹296 cr
company received
Valiant Organics Limited
Bought goods from them
also owns 0.01% of the company
₹115 cr
company paid
Valiant Organics Limited
Other income from them
also owns 0.01% of the company
₹8 cr
company received
Valiant Organics Limited
Bought property or assets from them
also owns 0.01% of the company
₹58 L
company paid

The company also transacted with 9 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.