Makes surfactants and other specialty chemicals. Aarti Surfactants reported FY26 revenue of Rs 859.13 crore, up 30.3% from Rs 659.09 crore in FY25, while standalone net profit fell to Rs 1,268 lakhs from Rs 1,499 lakhs as operating margin compressed to 5.49% from 7.50%. Raw materials dominate the cost base at 83.9% of revenue, with other operating expenses (7.6%) and capex (5.3%) the next largest lines. The company runs a manufacturing facility in Dadra and Nagar Haveli and Daman and Diu (the site of a Rs 17.40 lakh environmental compensation order in June 2026) and consolidates a wholly-owned subsidiary, Aarti HPC Limited. Q1 FY27 (Apr-Jun 2026) showed revenue of Rs 272.87 crore, up 26.4% YoY, with operating margin recovering to 7.49% and net profit at Rs 9.08 crore. The Board recommended a Rs 1 per share dividend for FY26 and is redeeming 10,82,387 non-convertible redeemable preference shares at Rs 167.70 each (about Rs 18.15 crore total payout) from FY26 profits. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Specialty chemicals / surfactants. Specialty chemicals / surfactants manufacturer, raw-material intensive with low operating margin
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 576 | 601 | 590 | 659 | 859 |
| EBITDA (ex other income) | 32 | 48 | 62 | 46 | 47 |
| margin % | 5.6 | 7.9 | 10.5 | 7.0 | 5.5 |
| Owners' profit | 0 | 13 | 21 | 0 | 12 |
| EPS, as reported (₹) | 7.24 | 16.64 | 26.63 | 17.20 | 14.59 |
| ROE % · ROCE % | 4.0 · 7.9 | 7.6 · 12.7 | 9.8 · 15.8 | 6.3 · 11.1 | 5.0 · 9.3 |
| Debt / equity (x) | 1.19 | 0.89 | 0.45 | 0.47 | 0.42 |
| Cash from operations | 23 | 25 | 52 | 15 | 77 |
| Capex | (23) | (11) | (16) | (20) | (45) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 151 | 163 | 202 | 216 | 179 | 208 | 256 | 273 |
| Profit before tax | 3 | 1 | 13 | 4 | 2 | 5 | 6 | 12 |
| Net profit | 2 | 1 | 10 | 3 | 2 | 4 | 4 | 9 |
| EPS (₹) | 2.14 | 0.95 | 11.50 | 3.48 | 1.84 | 4.32 | 4.95 | 10.63 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PIDILITE INDUSTRIES LTD | 1,59,479 | 60.2 | 14.43 | 42.3 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 73,583 | 34.0 | 5.24 | 22.7 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 52,514 | 85.7 | 6.64 | 41.5 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 43,836 | 55.4 | 11.03 | 39.5 | 16.7 | 16.4 | 23.0 | 37.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · AGM notice: Annual Report dispatched, meeting on Sep 29 | compliance | minimal | — | — |
| 4 Sept 2026 · 8th AGM notice: meeting on September 29, 2026 at 4 PM via video conferencing | board shareholder meetings | low | — | — |
| 4 Sept 2026 · AGM Notice and Annual Report for FY 2025-2026 | board shareholder meetings | medium | — | — |
| 4 Sept 2026 · Record date set for Aarti Surfactants final dividend at Re 1 per share | corporate actions | medium | — | — |
| 3 Sept 2026 · CRISIL upgrades Aarti Surfactants rating to A-/Stable from BBB+ | credit debt | high | — | — |
| 3 Sept 2026 · Newspaper notice published for 8th AGM on September 29, 2026 | compliance | minimal | — | — |
| 3 Sept 2026 · Newspaper ads published for 8th AGM on September 29, 2026 | compliance | minimal | — | — |
| 31 Aug 2026 · Aarti Surfactants incorporates wholly owned US subsidiary | strategic transactions | medium | — | — |
| 24 Aug 2026 · Grant of 9,000 Stock Options to Employees under ESOP 2024 | capital market events | medium | — | — |
| 22 Aug 2026 · Board re-appoints CEO and Executive Director, adds Independent Director | management changes | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| AETHER INDUSTRIES LIMITED |
| 22,229 |
| 94.3 |
| 9.05 |
| 60.4 |
| 8.9 |
| 11.4 |
| — |
| 33.8 |
| DEEPAK NITRITE LTD | 21,769 | 27.8 | 3.71 | 22.4 | 9.4 | 10.2 | 12.6 | 21.5 |
| ATUL LTD | 18,401 | 23.1 | 2.92 | 14.9 | 10.9 | 13.3 | 10.9 | 23.1 |
| AARTI INDUSTRIES LTD | 17,846 | 33.6 | 3.00 | 18.8 | 7.0 | 4.4 | 13.0 | 16.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 23.4 | 23.4 | 52 of 103 | 50% |
| P/B | 1.8 | 2.9 | 29 of 99 | 71% |
| ROCE | 5.4 | 10.3 | 74 of 108 | 32% |
| ROE | 5.0 | 8.1 | 71 of 101 | 30% |
| Debt / Equity | 0.4 | 0.2 | 77 of 101 | 24% |
| EBITDA margin | 7.5 | 15.5 | 81 of 99 | 18% |
| Revenue growth | 26.4 | 24.4 | 40 of 94 | 58% |
| Profit growth | 205.8 | 55.1 | 16 of 92 | 84% |
| Market cap | 432 | 732 | 61 of 107 | 43% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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