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Aarti Industries Results: Latest Quarterly Results & Analysis

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Aarti Industries Ltd. 31 Jul 2026 11:32 AM
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Q1FY27 Quarterly Result Announced for Aarti Industries Ltd.

Specialty Chemicals company Aarti Industries announced Q1FY27 results

Consolidated Financial Highlights:

  • Total Income for Q1FY27 stood at Rs 2,390 crore, recording a YoY growth of 42.35% compared to Rs 1,679 crore in Q1FY26 and a QoQ increase of 8.39% from Rs 2,205 crore in Q4FY26.
  • Revenue from Operations (Net) for the quarter was Rs 2,387 crore, reflecting a YoY increase of 42.42% over Rs 1,676 crore in Q1FY26 and a QoQ increase of 8.20% over Rs 2,206 crore in Q4FY26.
  • Profit before Exceptional Items and Tax for Q1FY27 reached Rs 178 crore, marking a significant YoY increase of 323.81% from Rs 42 crore in Q1FY26 and a QoQ growth of 60.36% from Rs 111 crore in Q4FY26.
  • Profit before Tax (PBT) for Q1FY27 was Rs 180 crore, representing a YoY rise of 328.57% against Rs 42 crore in Q1FY26 and a QoQ increase of 62.16% from Rs 111 crore in Q4FY26.
  • Net Profit for the period (attributable to owners of the company) stood at Rs 155 crore in Q1FY27, registering a YoY growth of 260.47% compared to Rs 43 crore in Q1FY26 and a QoQ increase of 13.14% from Rs 137 crore in Q4FY26.

Standalone Financial Highlights:

  • Total Income for Q1FY27 was Rs 2,244 crore, showing a YoY growth of 36.75% from Rs 1,641 crore in Q1FY26 and a QoQ decline of 8.00% from Rs 2,439 crore in Q4FY26.
  • Revenue from Operations (Net) for the quarter reached Rs 2,241 crore, up by 36.98% YoY compared to Rs 1,636 crore in Q1FY26, while declining 8.12% QoQ from Rs 2,439 crore in Q4FY26.
  • Profit before Tax for Q1FY27 was Rs 163 crore, reflecting a YoY growth of 288.10% over Rs 42 crore in Q1FY26 and a QoQ growth of 36.97% over Rs 119 crore in Q4FY26.
  • Net Profit for the period for Q1FY27 stood at Rs 144 crore, representing a YoY increase of 227.27% from Rs 44 crore in Q1FY26 and a slight QoQ decline of 2.04% from Rs 147 crore in Q4FY26.

Business Highlights:

  • Divestment of Subsidiary: Aarti Corporate Services Limited ("ACSL"), a wholly-owned subsidiary, entered into an arrangement to divest its entire 100% equity stake in Shanti Intermediates Private Limited ("SIPL"). The transaction was completed w.e.f. June 23, 2026, for a consideration of Rs 2 crore. SIPL's share of Revenue and Net Profit to the company had been below 0.1%.
  • Share Capital Allotment: During Q1FY27, the company issued and allotted 1,32,326 equity shares of Rs 5 each under the 'Aarti Industries Limited Performance Stock Option Plan 2022' ("PSOP 2022").
  • Debt and Credit Rating: The company has retained its Long-Term Issuers & Bank Facilities credit ratings of AA/Negative from CRISIL and India Ratings. The Commercial Papers (Listed) outstanding as of June 30, 2026, were Rs 600 crore and are rated A1 by both India Rating and CRISIL.
  • Corporate Structure: As of June 30, 2026, the company has 7 direct subsidiaries, 1 indirect subsidiary, and 2 joint ventures.

Suyog Kotecha, Chief Executive Officer & Executive Director, said: “We have begun FY27 with encouraging momentum, delivering healthy growth despite a dynamic global operating environment. Our performance reflects the strength of our diversified portfolio, disciplined execution and our ability to respond quickly to changing market conditions while continuing to serve customers seamlessly across geographies. While these disruptions affected Q1 volumes, we expect volumes to recover in Q2 as demand scenarios tend to improve.

During the quarter, we effectively managed geopolitical disruptions by leveraging our global market presence and operational flexibility. At the same time, we continued to advance our strategic growth agenda, with key expansion projects progressing as planned and customer engagements across new platforms gaining momentum. Our ability to manage inventory and global supply chain insulated us from a significant RM deficit and supported better pricing with customers.

While near-term macroeconomic uncertainties continue to persist, the fundamentals of our business remain strong. Our focus remains on executing our growth roadmap, improving operational efficiency, strengthening customer partnerships and creating sustainable long-term value. With our strategic investments nearing completion and new capacities expected to come on stream, we are well positioned to capture future opportunities and drive profitable growth.”

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Specialty Chemicals company Aarti Industries announced Q4FY26 & FY26 results

Standalone Financial Highlights:

  • Total Income: For Q4FY26, the company reported a total income of Rs 2,439 crore, representing a YoY increase of 22.26% from Rs 1,995 crore in Q4FY25 and a QoQ growth of 7.02% from Rs 2,279 crore in Q3FY26. On an annual basis, total income for FY26 stood at Rs 8,430 crore, up 15.09% from Rs 7,325 crore in FY25.
  • Net Revenue from Operations: Net revenue for Q4FY26 was Rs 2,439 crore, showing a YoY growth of 22.44% compared to Rs 1,992 crore in Q4FY25 and a QoQ growth of 7.16% compared to Rs 2,276 crore in Q3FY26. Annual net revenue for FY26 reached Rs 8,422 crore, an increase of 15.34% over Rs 7,302 crore in FY25.
  • Net Profit: The company earned a net profit of Rs 147 crore in Q4FY26, a YoY increase of 48.48% from Rs 99 crore in Q4FY25 and a QoQ increase of 12.21% from Rs 131 crore in Q3FY26. Annual net profit for FY26 was Rs 422 crore, growing by 24.12% compared to Rs 340 crore in FY25.
  • Earnings Per Share (EPS): Basic EPS for Q4FY26 stood at Rs 4.05, while the annual basic EPS for FY26 was Rs 11.65, compared to Rs 9.37 in FY25.
  • Profit Before Tax (PBT): PBT for Q4FY26 was Rs 119 crore, a YoY growth of 29.35% from Rs 92 crore and a QoQ growth of 2.59% from Rs 116 crore. For FY26, standalone PBT stood at Rs 365 crore.

Consolidated Financial Highlights:

  • Total Income: Consolidated total income for Q4FY26 was Rs 2,205 crore, a YoY growth of 12.96% from Rs 1,952 crore in Q4FY25, but a QoQ decline of 5.00% from Rs 2,321 crore in Q3FY26. Annual consolidated total income for FY26 reached Rs 8,291 crore, up 13.78% from Rs 7,287 crore in FY25.
  • Net Revenue from Operations: For Q4FY26, consolidated net revenue stood at Rs 2,206 crore, up 13.19% YoY from Rs 1,949 crore and down 4.87% QoQ from Rs 2,319 crore. Annual consolidated net revenue for FY26 was Rs 8,286 crore, a growth of 13.99% compared to Rs 7,269 crore in FY25.
  • Net Profit: Consolidated net profit for Q4FY26 was Rs 137 crore, representing a YoY increase of 42.71% from Rs 96 crore and a QoQ growth of 3.01% from Rs 133 crore. Annual consolidated net profit for FY26 reached Rs 419 crore, reflecting a 26.59% increase over Rs 331 crore in FY25.
  • Earnings Per Share (EPS): Consolidated annual basic EPS for FY26 was Rs 11.56, compared to Rs 9.13 in FY25.
  • Profit Before Tax (PBT): Consolidated PBT for Q4FY26 reached Rs 111 crore, showing a YoY growth of 26.14% from Rs 88 crore and a QoQ decline of 5.93% from Rs 118 crore.

Business Highlights

  • Segment Performance: The company reported that it operates in only one reportable segment, which is 'Specialty Chemicals'.
  • Dividend Recommendation: The Board of Directors has recommended a dividend of Re 1/- per equity share (20%) of face value of Rs 5/- each for FY26, subject to shareholder approval.
  • Commercial Paper: The company repaid all commercial papers on their respective due dates during the period. As of March 31, 2026, listed commercial papers worth Rs 300 crore were outstanding.
  • Equity Share Allotment: During Q4FY26, 500 equity shares were issued and allotted under the 'Aarti Industries Limited Performance Stock Option Plan 2022', bringing the total paid-up share capital to Rs 1,81,29,71,845/-.
  • Subsidiary Network: As of March 31, 2026, the company has seven direct subsidiaries, two indirect subsidiaries, and two joint ventures.

Result PDF

Specialty Chemicals company Aarti Industries announced Q3FY26 results

  • Revenue stood at Rs 2,492 crore, an increase of 11% QoQ driven by volume growth across various value chains.
  • EBITDA surged to Rs 323 crore, marking a 11% QoQ increase.
  • Profit After Tax for the quarter, driven by higher operational performances, surged to Rs 133 crore, an increase of 25% QoQ.

Suyog Kotecha, Executive Director & Chief Executive Officer, said: “The global operating environment continues to remain volatile, shaped by geopolitical uncertainties and ongoing trade realignments. Despite these challenges, Aarti Industries has delivered resilient performance, supported by proactive market diversification and a calibrated approach to the U.S. Our ability to sustain volumes and maintain customer engagement reflects the strength of our integrated portfolio and execution discipline.

Our strategic focus is shifting from bulk, product-led growth to a more streamlined, knowledge-driven and quality-focused portfolio. We are actively managing volatility through downstream integration, portfolio diversification and a sharper focus on highervalue chemistries, while deepening customer engagements through chemistry-led, R&D-oriented solutions. With Jhagadia, Zone IV emerging as a transformational growth platform, strong demand visibility for new products and disciplined capital allocation, we remain confident in our long-term growth trajectory. Recent Policy developments in China and ongoing progress on trade agreements such as the EU FTA are expected to support margin recovery and long term growth opportunities”

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Specialty Chemicals company Aarti Industries announced Q2FY26 results

  • Revenue: Rs 2,250 crore, up 21% QoQ, led by improved volumes across key product categories.
  • EBITDA: Rs 292 crore, up 36% QoQ, reflecting higher capacity utilisation and cost optimisation.
  • PAT: Rs 105 crore, up 150 % QoQ, driven by better operating leverage and after considering exceptional items (as detailed in the financials declared earlier).
  • CAPEX: Rs 267 crore for the quarter; FY26 outlay expected below Rs 1,000 crore, reflecting continued capital discipline.

Suyog Kotecha, Executive Director & Chief Executive Officer, said: “This quarter reflected the inherent resilience and agility of our diversified portfolio. Despite US tariff headwinds, our strong customer engagement and proactive regional rebalancing helped us maintain the momentum. We are expanding our footprint in Europe, the Middle East, and Africa while optimising our US strategy to ensure long-term competitiveness. With key capacity additions nearing completion, Aarti Industries is well-positioned to capitalise on the next phase of global recovery. Our focus remains clear: to de-risk operations, accelerate innovation in high-growth chemistries, and maintain strong financial discipline. As trade flows stabilise and demand revives, we anticipate steady margin expansion across our portfolio."

Result PDF

Specialty Chemicals company Aarti Industries announced Q1FY26 results

  • Revenue: Rs 1,867 crore, reflecting near-term impact of raw-material corrections and deferred export flows.
  • EBITDA: Rs 215 crore, with margins affected by input price volatility and temporary operational disruptions.
  • PAT: Rs 43 crore, in line with operational trends and higher interest and depreciation.

Suyog Kotecha, CEO and Executive Director, said: “This was a uniquely challenging quarter shaped by global and regional volatility. Yet, what remained consistent was our commitment to long-term value creation. Our volumes stayed resilient, key capacity expansions are ramping up, and our green and circular initiatives continue progressing as planned. We are already seeing signs of normalisation in customer activity, raw material costs, and logistics, which reinforces our confidence in a stronger performance ahead. With the recent development on the US tariff front, we are closely monitoring the situation to ascertain the impact and plan appropriate actions.”

Result PDF

Specialty Chemicals company Aarti Industries announced Q4FY25 results

Q4FY25 Financial Highlights:

  • Revenue: Rs 2214 crore, marking 9% QoQ and 13% YoY growth.
  • EBITDA: Rs 266 crore, up 13% QoQ, reflecting operating leverage and improved cost controls.
  • PAT: Rs 96 crore, rising 109% sequentially on the back of better volumes and efficiency gains.

Suyog Kotecha, CEO & Executive Director, said: “We are encouraged by the positive momentum across our businesses, particularly the recovery in core product volumes and the continued execution of our expansion and sustainability agenda. FY26 begins amid a volatile macroeconomic environment, US trade barriers, and geopolitical tensions. With a strong pipeline, we are focused on delivering consistent, value-led growth while strengthening our position as a global partner of choice.”

Result PDF

Specialty Chemicals company Aarti Industries announced Q3FY25 results

  • Quarterly revenues at Rs 2,035 crore, marking a 14% increase QoQ.
  • EBITDA grew by 17% QoQ to Rs 236 crore, driven by Volume growth, Operating leverage and Product mix improvements.
  • PAT at Rs 46 crore, a 12% QoQ decrease (impacted by mark to market loss on Longterm ECB Loan of Rs 23 crore arising due to Rupee depreciation).
  • Exports saw sequential growth, while domestic volumes remained stable across most end-use applications.

Suyog Kotecha, CEO and Executive Director of Aarti Industries, said: “In a dynamic global environment, AIL delivered a resilient performance despite market challenges in Q3FY25 with EBITDA growing sequentially on the back of strong volume growth. While pricing pressures weighed on margins, we remain focused on risk mitigation through cost efficiencies, product diversification and geographic expansion into the US, Europe, and Japan markets. With a robust innovation pipeline and sustainability at our core, we are well-positioned to capitalize on future opportunities in high-growth applications.”

Result PDF

Specialty Chemicals company Aarti Industries announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Revenues of Rs 1,826 crore; an increase of 11.2% over Q4FY22
    • EBITDA of Rs 252 crore; a decrease of 3.8% over Q4FY22
    • PAT of Rs 149 crore; an increase of 2.1% over Q4FY22
  • FY23:
    • Revenues of Rs 7,283 crore; an increase of 25.1% over FY22
    • EBITDA of Rs 1,089 crore; a increase of 18.5% over FY22
    • PAT of Rs 545 crore in FY23

Commenting on the performance for Q4FY23, Rajendra Gogri – Chairman & MD at Aarti Industries said: “Financial Year 2023 was a challenging period for the industry guided by unfolding of several material events including Russia-Ukraine conflict, the inflationary surge in input prices & energy costs and slowing demand in few developed markets. Given this backdrop, we reported resilient performance and are glad to have concluded the year on a high with EBITDA of close to Rs 1,100 crore, as guided previously. Despite the challenges due to the pandemic, external market-linked disruptions, supply chain issues, inflationary costs, etc faced in the last five years, our chemical EBIDTA grew from Rs 534 crore in FY18 to Rs 1,089 crore in FY23. This more than 2x growth in EBIDTA is a testament to our robust and resilient business model and our ability to steer onto the growth journey in the most challenging periods.

Our aspiration of driving growth in a sustained and responsible manner, while being future-ready to capitalise on upcoming market opportunities forms the bedrock of success. All our expansion initiatives remain intact. We have operationalized the two speciality chemical process blocks in Q4 FY23. Our other key projects will be commissioned in a phased manner over the next two years as guided earlier. Our focus is to create new chemical value chains and introduce high-potential products to elevate our leadership position within the chosen chemistries. This will result in significant volume growth from the current year FY24 and meaningful accretion to both revenues and earnings, as guided earlier.

We firmly believe that this is a ‘Golden Decade’ for the Indian Chemical industry and our teams are working relentlessly on building scale for select high-potential opportunities backed by our inherent strengths and expertise. Over several years, AIL had been pioneering in introducing various products and chemistries in India and also put India into the Global Market. Our future plans for Chloro-toluene and downstream is one more addition to AIL introducing a newer range of products and complex chemistry for the first time in India and will benefit from the opportunities for import substitution and export opportunities for global markets. Our ability to adapt to the changing market conditions and commitment to delivering quality products and services to our customers has been the cornerstone of our success. As we look ahead, we remain optimistic and are confident of demonstrating sustained earnings growth thereby augmenting value for all our stakeholders.”

 

 

Result PDF

Specialty chemical firm Aarti Industries announced Q3FY23 results:

  • Q3FY23:
    • Revenues of Rs 1,854 crore; an increase of 12% over the previous year.
    • EBITDA of Rs 289 crore; an increase of 26% over the previous year.
    • PAT of Rs 137 crore.
      • Revenue grew on a YoY basis on account of inflated RM prices, utility costs, freight costs, etc. On QoQ, despite some corrections in prices, revenues were maintained on account of a higher mix of value-added products.
      • Performance was also steered by higher contributions from the legacy products targeting essential end-user segments due to continued better operating environment; incremental revenues from newly added capacities further aided the performance momentum.
      • Product offtake linked to the Textiles industry like Dyes and Pigments remains subdued, as directed in the previous quarter. The same is expected to start recovering over the next two to three quarters.
    • Witnessed QoQ decline in some input costs and logistics, while few still remained elevated during the quarter. The company has robust pricing mechanisms in place to mitigate the impact of these inflationary cost pressures, and the same is being passed on to the customers thereby protecting absolute profitability.
    • EBITDA improvement was significant, which came on the back of our dynamic product mix and our efforts to mitigate the global challenges to push for a few high-value products while the demand for a few of the products remains subdued.
    • Depreciation as guided earlier is in line with the new capacities commissioned. While Finance costs had an impact of M2M loss of about Rs 11 crore in respect of the unhedged ECBs.
    • Various growth initiatives like NCB capacity expansion and specialty chemicals plants are ongoing. These are expected to come on stream over the next two quarters and will start revenues in a phased manner from H1FY24.

Commenting on the performance for Q3 FY23, Rajendra Gogri, Chairman & MD at Aarti Industries Limited, said: “We have demonstrated sustained performance build-up during the period under review, with strong gains in both topline and profitability metrices despite softness in demand across few end-user categories. I am glad how our teams have swiftly reacted to this changing operating scenario and channelized their vast industry experience to deliver a resilient performance. New capacity lines added in the past few quarters have started contributing to the overall performance and this will ramp up in the ensuing period. We witnessed a moderation in some input cost line items, while inflation in other costs persisted. We expect this to stabilize soon, the impact of which will be evident in the ensuing period.

Our historic partnership on Nitric Acid off-take will significantly benefit us in the long run and ensure that we remain adequately fueled to achieve our ambitious growth projections. On a separate note, I am pleased to share that we have commercialized the facility linked to the 3rd Long-Term Contract at Jhagadia, a positive contribution of which will start unfolding from the next financial year.

Our growth aspirations are huge, and we are making all the right investments to ensure that we further cement our leadership position in the chosen chemistries, while leveraging our expertise in some of the high-potential newer chemical value chains where the addressable opportunity is humongous. The coming two years will see maximum gains arising from various CAPEX projects announced in the past. Overall, we remain confident of delivering what is expected out of us through a combination of our expertise in manufacturing and process enhancements, blended with strength in R&D and innovation. Our objective is to increase shareholder value by capitalizing on the positive sector tailwinds.”

Result PDF

Specialty chemical firm Aarti Industries announced Q2FY23 results:

  • Q2FY23:
    • Revenues of Rs 1,847 crore; an increase of 29% over the previous year
    • EBITDA of Rs 267 crore; an increase of 5% over the previous year
    • PAT of Rs 124 crore

Rajendra Gogri, Chairman & MD at Aarti Industries Ltd, said: “Q2 of the current fiscal year has been an eventful period for us. Not only have we delivered a stable financial performance, but also received NCLT approval to demerge our Pharma business into a separate entity – Aarti Pharmalabs Limited, thereby significantly enhancing value for our stakeholders while also achieving operational efficiencies. This will help the companies take appropriate strategic decisions in view of the growth opportunities available under the respective businesses.

The external environment continues to be challenging aggravated by high costs both on raw materials and utilities side, moderate slowdown in some end-user industries related to textiles combined with severe forex fluctuations and other global uncertainties. Against this backdrop, our performance has been resilient. Stability in performance over the years is an outcome of robust proficiency achieved in handling multiple chemistries with manufacturing excellence. Our execution capabilities and delivery commitments are best-in-class, and our customers trust us for that. We remain the go-to players for them when it comes to chemistries linked to Benzene and Toluene product chains among others. Our capex initiatives are well on track, and this will steer the performance momentum in the forthcoming period. Work is underway to create newer chemical value chains and also introduce high-potential products to expand the addressable market opportunity while catering to increased demand from key customers. We expect full benefit of our expansion program to unfold in FY24 and FY25 as we anticipate demand recovery from Q4 of the current fiscal year. Further, with the volume ramp-up for the new capacities coming in significantly in FY24 and FY25, while fixed costs will generally not increase significantly, the gross profit to EBITDA conversion will improve in FY24 and beyond

We will continue to remain agile, while capitalising on opportunities created through swift movement in the Indian chemical industry landscape. Our R&Dp-led product profile combined with incremental gains from existing value-chains will set the tone and improve our value proposition going ahead.”

 

Result PDF

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