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AARTIIND - Fundamental Analysis: Financial Health & Valuation

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Rating: 2.8

Last Updated Time : 03 Feb 26, 06:04 pm

Fundamental Rating: 2.8

Stock Code AARTIIND Market Cap 15,567 Cr. Current Price 430 ₹ High / Low 495 ₹
Stock P/E 42.2 Book Value 158 ₹ Dividend Yield 0.23 % ROCE 6.43 %
ROE 6.22 % Face Value 5.00 ₹ DMA 50 370 ₹ DMA 200 401 ₹
Chg in FII Hold 0.30 % Chg in DII Hold 0.01 % PAT Qtr 146 Cr. PAT Prev Qtr 80.0 Cr.
RSI 78.0 MACD 4.27 Volume 1,58,36,937 Avg Vol 1Wk 32,13,636
Low price 338 ₹ High price 495 ₹ PEG Ratio -1.24 Debt to equity 0.69
52w Index 58.3 % Qtr Profit Var 211 % EPS 10.4 ₹ Industry PE 25.9

📊 Core Financials

  • Revenue & Profitability: PAT rose from 80 Cr. to 146 Cr. (+211% variance), showing strong quarterly growth, but EPS remains low at ₹10.4.
  • Margins: ROE at 6.22% and ROCE at 6.43% are weak, reflecting poor efficiency.
  • Debt: Debt-to-equity ratio of 0.69 indicates moderate leverage.
  • Cash Flow: Profitability is improving, but weak return ratios raise concerns about sustainability.

💹 Valuation Indicators

  • P/E Ratio: 42.2 vs. industry average of 25.9 — expensive compared to peers.
  • P/B Ratio: Current price (₹430) vs. book value (₹158) → ~2.7x, moderately valued.
  • PEG Ratio: –1.24, suggesting growth is not aligned with valuation.
  • Intrinsic Value: Valuation appears stretched given weak efficiency metrics.

🏢 Business Model & Competitive Advantage

  • Aarti Industries operates in specialty chemicals, catering to pharmaceuticals, agrochemicals, and polymers.
  • Competitive advantage lies in diversified product portfolio and strong client base, but profitability remains under pressure.

📈 Technicals & Entry Zone

  • DMA 50 (₹370) and DMA 200 (₹401) are below current price, showing strong upward momentum.
  • RSI at 78 indicates overbought territory; MACD positive suggests bullish sentiment.
  • Entry Zone: Attractive only on dips near ₹380–400 for long-term investors.
  • Long-Term Holding: Risky at current valuations; suitable only if margins improve significantly.


✅ Positive

  • Strong quarterly PAT growth (+211%).
  • Moderate debt-to-equity ratio (0.69).
  • FII holdings increased (+0.30%), showing foreign investor confidence.

⚠️ Limitation

  • Weak ROE (6.22%) and ROCE (6.43%).
  • High P/E ratio (42.2) compared to industry average (25.9).
  • Dividend yield of 0.23% is modest despite profitability.

📉 Company Negative News

  • Stock trading in overbought zone (RSI 78), risk of short-term correction.
  • PEG ratio negative (–1.24), indicating poor growth alignment with valuation.

📈 Company Positive News

  • Quarterly PAT improved to 146 Cr., reflecting operational strength.
  • DII holdings increased slightly (+0.01%), showing domestic support.

🏭 Industry

  • Specialty chemicals sector benefits from global demand in pharma and agrochemicals.
  • Industry average P/E (25.9) highlights Aarti Industries’ premium valuation.

🔎 Conclusion

  • Aarti Industries shows strong quarterly earnings growth but weak efficiency ratios.
  • Valuations are stretched compared to industry averages, making current levels risky.
  • Recommendation: Accumulate only on dips near ₹380–400. Long-term holding viable only if ROE and ROCE improve significantly.

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