Loading…
Indian specialty-chemicals maker of benzene-derivative and chlorination/nitration chemistry for pharma and agrochemical customers.
Indian specialty-chemicals maker of benzene-derivative and chlorination/nitration chemistry for pharma and agrochemical customers.
Takes benzene through steps such as nitration and chlorination and sells the resulting chemicals to a limited number of global customers, often under long-term contracts, so volume depends on a few buyers' orders. It has since split its pharma business into a separate company to leave this one focused on specialty chemicals.
Moat: narrow (scale, process know-how). Backward-integrated benzene chemistry gives cost advantages, but it competes with several large Indian specialty-chem peers.
Headquarters: Mumbai, India · Founded: 1984 · Employees: 13,083
Size AARTI Industries (AARTIIND.NS) is an India Materials company (Chemicals: Major Diversified) with a market value of $1.71B, the 413th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹444.05 on 6 Nov 2026.
Performance Over six months the shares fell 9.0%, against -18.4% for the median peer and 0.0% for the India market (cap-weighted) — 8th highest of 19 in its peer set.
Growth Revenue grew 39.9% over the last twelve months (peer median +5.7%); the operating margin is 8.8% (peer median 9.1%).
Valuation It trades at 29.1× forward earnings against a peer median of 25.0× (8th most expensive of 17).
Capital Return on invested capital runs 9.6 points below its cost of capital (16.0% WACC).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹106B | ₹82.0B | ₹72.1B | ₹63.2B | ₹65.4B |
| Revenue growth | — | +14% | +14% | -3% | — |
| Gross profit | ₹26.2B | ₹12.1B | ₹9.87B | ₹8.86B | ₹11.5B |
| EBITDA | ₹14.2B | ₹10.7B | ₹9.66B | ₹9.47B | ₹10.3B |
| Net income | ₹5.93B | ₹4.19B | ₹3.31B | ₹4.16B | ₹5.45B |
| Free cash flow | n/a | -₹5.57B | -₹4.05B | -₹3.23B | -₹1.85B |
| Capital expenditure | n/a | ₹11.2B | ₹13.8B | ₹13.3B | ₹13.3B |
| Total debt | ₹51.9B | ₹49.7B | ₹38.5B | ₹36.2B | ₹29.1B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| AARTI Industries AARTIIND.NS | $1.71B | -9% | +40% | 9% | 29.1× | n/a |
| Atul ATUL.NS | $1.63B | -26% | +18% | 12% | 19.7× | 18.2% |
| Deepak Nitrite DEEPAKNTR.NS | $2.22B | -17% | +25% | 14% | 16.5× | n/a |
| Srf SRF.NS | $7.67B | -11% | +20% | 19% | 30.3× | 25.2% |
| Navin Fluorine International NAVINFLUOR.NS | $4.89B | +27% | +46% | 30% | 45.6× | 34.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AARTIIND.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.6% | -13.0% | 8th highest of 21 |
| 6-month return | -9.0% | -18.4% | 8th highest of 19 |
| Distance from 52-week high | -19.5% | -35.6% | 5th highest of 21 |
| Revenue growth (TTM) | +39.9% | +5.7% | 2nd highest of 21 |
| Operating margin | 8.8% | 9.1% | 11th highest of 21 |
| Forward P/E | 29.1× | 25.0× | 8th most expensive of 17 |
| ROIC minus cost of capital | -9.6 pp | -0.4 pp | 2nd lowest of 21 |
| EV / EBITDA | 14.7× | 15.0× | 6th cheapest of 11 |
| Net debt / EBITDA | 3.3× | 1.1× | 3rd most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AARTI Industries AARTIIND.NS | India | $1.71B | -9% | +40% | 9% | 29.1× | n/a | n/a |
| Advanced Echem Materials 4749.TWO | Taiwan | $1.72B | -39% | +19% | 25% | 33.1× | n/a | n/a |
| Borregaard BRG.OL | Norway | $1.68B | +7% | +3% | 17% | 24.4× | -1.0% | +7.7% |
| Nippon Kayaku 4272.T | Japan | $1.66B | +3% | +14% | 10% | 10.1× | -4.8% | +6.9% |
| Metis TechBio 7666.HK | Hong Kong | $1.66B | n/a | +6,987% | -367% | n/a | n/a | n/a |
| Valiant 002643.SZ | China | $1.66B | -28% | +3% | 10% | 25.6× | 17.4% | +4.9% |
| Huntsman HUN | United States | $1.66B | -37% | +6% | 0% | 353.8× | n/a | n/a |
| Fine Organic Industries FINEORG.NS | India | $1.64B | +9% | +13% | 20% | 33.4× | 26.7% | +15.7% |
| Alzchem ACT0.DE | Germany | $1.56B | n/a | +5% | 16% | 20.9× | -1.1% | +8.2% |
| Innospec IOSP | United States | $1.93B | -3% | +5% | 8% | 13.4× | 4.4% | +8.3% |
| Qingdao Huicheng Environmental Technology 300779.SZ | China | $2.02B | -9% | -13% | 5% | 129.3× | n/a | n/a |
| Zhejiang Yongtai Technology 002326.SZ | China | $2.04B | -40% | +38% | 11% | n/a | n/a | n/a |
| Eternal Materials 1717.TW | Taiwan | $2.06B | -27% | -2% | 5% | 17.2× | 19.9% | +1.2% |
| Ingevity NGVT | United States | $2.07B | -21% | -12% | 25% | 10.4× | -0.9% | -0.8% |
| Jilin Chemical Fibre Stock 000420.SZ | China | $1.42B | -25% | +11% | 5% | 154.0× | n/a | n/a |
| Privi Speciality Chemicals PRIVISCL.NS | India | $1.40B | -4% | +18% | 20% | 30.4× | 30.1% | +15.0% |
| Rianlon 300596.SZ | China | $1.39B | -7% | +11% | 11% | 14.7× | n/a | n/a |
| Jiangsu Shuangxing Color Plastic New Materials 002585.SZ | China | $1.38B | +5% | -4% | -4% | 62.8× | 22.5% | +0.2% |
| Shanghai Emperor of Cleaning Hi-Tech 603200.SS | China | $1.37B | -16% | +4% | -8% | n/a | n/a | n/a |
| Isuspecialtychemical 457190.KS | South Korea | $1.36B | -49% | +14% | 3% | n/a | n/a | n/a |
| China Resources Chemical Innovative Materials 301090.SZ | China | $1.35B | -33% | +4% | 1% | 19.2× | 21.4% | +1.1% |