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Aarti Drugs Limited: Intrinsic Value & Share Price Analysis

Fair Value

₹276.70Overvalued by 24.60%vs CMP ₹367.00

P/E (18.0) × ROE (13.0%) × BV (₹147.00) × DY (0.55%)

₹250.72Overvalued by 31.68%vs CMP ₹367.00
MoS: -46.4% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹274.8322%Over (-25.1%)
Graham NumberEarnings₹259.5016%Over (-29.3%)
Earnings PowerEarnings₹90.4913%Over (-75.3%)
DCFCash Flow₹172.5213%Over (-53%)
Net Asset ValueAssets₹147.047%Over (-59.9%)
EV/EBITDAEnterprise₹294.969%Over (-19.6%)
Earnings YieldEarnings₹203.607%Over (-44.5%)
ROCE CapitalReturns₹544.539%Under (+48.4%)
Revenue MultipleRevenue₹357.575%Fair (-2.6%)
Consensus (9 models)₹250.72100%Overvalued
Key Drivers: Wide model spread (₹90–₹545) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -0.7%

*Investments are subject to market risks

Analyst Summary

Aarti Drugs Limited operates in the Pharmaceuticals segment, NSE: AARTIDRUGS | BSE: 524348, current market price is ₹367.00, market cap is 3,347 Cr.. At a glance, stock P/E is 18.0, ROE is 13.0 %, ROCE is 13.5 %, book value is 147, dividend yield is 0.55 %. The latest intrinsic value estimate is ₹250.72, around 31.7% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹2,174 Cr versus the prior period change of -4.1%, while latest net profit is about ₹157 Cr with a prior-period change of 10.6%. The 52-week range shown on this page is 575/319, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisAarti Drugs Ltd. is a Public Limited Listed company incorporated on 28/09/1984 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L3706…

This summary is generated from the stock page data available for Aarti Drugs Limited: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

63
Aarti Drugs Limited scores 63/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health76/100 · Strong
ROCE 13.5% GoodROE 13.0% GoodD/E 0.33 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 55.0% Stable
Earnings Quality50/100 · Moderate
OPM stable around 12% Steady
Quarterly Momentum70/100 · Strong
Revenue (4Q): +7% YoY GrowingProfit (4Q): +41% YoY StrongOPM: 8.0% (down 4.0% YoY) Margin pressure
Industry Rank55/100 · Moderate
P/E 18.0 vs industry 59.5 Cheaper than peersROCE 13.5% vs industry 16.4% Average3Y sales CAGR: -1% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 25, 2026, 10:10 pm

Market Cap 3,347 Cr.
Current Price 367
Intrinsic Value₹250.72
High / Low 575/319
Stock P/E18.0
Book Value 147
Dividend Yield0.55 %
ROCE13.5 %
ROE13.0 %
Face Value 10.0
PEG Ratio-26.71

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Aarti Drugs Limited

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Aarti Drugs Limited 3,347 Cr. 367 575/31918.0 1470.55 %13.5 %13.0 % 10.0
Advanced Enzyme Technologies Ltd 3,347 Cr. 299 367/25223.2 1331.74 %13.1 %9.54 % 2.00
RPG Life Sciences Ltd 3,363 Cr. 2,033 2,725/1,73132.0 3350.98 %32.8 %25.5 % 8.00
Gufic BioSciences Ltd 2,991 Cr. 298 409/26859.2 62.70.03 %13.2 %12.3 % 1.00
SMS Pharmaceuticals Ltd 3,715 Cr. 397 448/20542.6 81.20.10 %12.2 %11.0 % 1.00
Industry Average19,737.15 Cr1,103.0859.48201.130.36%16.35%15.16%6.10

All Competitor Stocks of Aarti Drugs Limited

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 626696592578538560493543515623521579529
Expenses 557608520512478490439484454534457504486
Operating Profit 69897265606954606089647542
OPM % 11%13%12%11%11%12%11%11%12%14%12%13%8%
Other Income 11112100112001
Interest 9888787787767
Depreciation 12121212121212121212121415
Profit before tax 49695347435035415271455622
Tax % 25%23%25%26%26%27%23%26%26%13%-7%25%-56%
Net Profit 37534035323627303961494234
EPS in Rs 3.965.744.273.763.443.932.933.334.226.745.334.583.71

Last Updated: February 6, 2026, 9:49 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 1:47 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 9721,0871,0761,0891,1401,4541,6351,9152,2512,4982,2672,1742,252
Expenses 8229159009109551,2521,3871,5111,9302,2121,9981,9081,982
Operating Profit 150172176179185203248404321286269265270
OPM % 15%16%16%16%16%14%15%21%14%11%12%12%12%
Other Income 11041697524143
Interest 37424738364136262336333227
Depreciation 28313637384047484747484853
Profit before tax 8610093108112128175338256205192199193
Tax % 28%22%29%30%35%32%22%24%24%25%26%21%
Net Profit 627866757387136258195153142157186
EPS in Rs 6.388.016.847.917.789.2514.5627.6521.0616.5015.4317.2420.36
Dividend Payout % 26%41%25%3%3%3%3%9%5%6%6%6%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)25.81%-15.38%13.64%-2.67%19.18%56.32%89.71%-24.42%-21.54%-7.19%10.56%
Change in YoY Net Profit Growth (%)0.00%-41.19%29.02%-16.30%21.84%37.14%33.38%-114.12%2.88%14.35%17.75%

Aarti Drugs Limited has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:6%
3 Years:-1%
TTM:2%
Compounded Profit Growth
10 Years:7%
5 Years:4%
3 Years:-7%
TTM:39%
Stock Price CAGR
10 Years:14%
5 Years:-8%
3 Years:3%
1 Year:-17%
Return on Equity
10 Years:18%
5 Years:18%
3 Years:13%
Last Year:13%

Last Updated: September 4, 2025, 10:00 pm

Balance Sheet

Last Updated: December 4, 2025, 12:53 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 12242424242423939393929191
Reserves 2392793263634104955987668801,0221,0831,1601,250
Borrowings 342435465448517471378336519535475516440
Other Liabilities 257228240281366384471442543546522506463
Total Liabilities 8509671,0551,1161,3161,3731,4711,6372,0352,1962,1722,2732,245
Fixed Assets 373431463542564586612631649634722761970
CWIP 8133414283211166016122227392
Investments 5111118171920242829304253
Other Assets 4645115475417077368289661,2971,3721,1981,1961,130
Total Assets 8509671,0551,1161,3161,3731,4711,6372,0352,1962,1722,2732,245

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 951071251746214719615440162337220
Cash from Investing Activity + -105-102-87-96-71-59-29-69-125-131-187-135
Cash from Financing Activity + 11-5-37-789-87-168-8584-31-149-85
Net Cash Flow 2-11-0-01-1-0-1011
Free Cash Flow -11103778-108716480-873114883
CFO/OP 81%71%83%108%45%87%94%60%37%76%144%103%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-192.00-263.00-289.00-269.00-332.00-268.00-130.0068.00-198.00-249.00-206.00-251.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 1041031099311711010496115117104118
Inventory Days 71778710113286107125120102107106
Days Payable 847585911258611094103899697
Cash Conversion Cycle 91105110103124109101127133130115127
Working Capital Days -101321263346608368737979
ROCE %22%21%18%17%17%17%20%33%21%15%14%14%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 59.57%58.70%58.57%57.47%57.13%55.67%55.64%55.38%55.48%55.23%54.72%55.03%
FIIs 1.94%1.97%2.33%2.10%2.56%2.95%2.50%2.28%2.25%2.26%2.68%2.15%
DIIs 4.09%4.72%5.32%5.26%5.99%7.35%7.83%8.77%9.70%9.94%9.90%10.12%
Public 34.39%34.63%33.78%35.16%34.30%34.01%34.01%33.58%32.57%32.58%32.70%32.71%
No. of Shareholders 1,69,0901,62,4091,67,4461,70,4141,57,5471,50,2181,90,2811,76,0061,69,7611,60,2601,52,2521,48,363

Shareholding Pattern Chart

No. of Shareholders

Aarti Drugs Limited: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
DSP Small Cap Fund 6,387,722 1.51 243.44,636,3772025-12-07 00:37:5737.77%
ICICI Prudential Pharma Healthcare & Diagnostics (P.H.D) Fund 1,824,167 1.04 69.511,721,9242026-02-22 05:22:455.94%
DSP Healthcare Fund 852,155 1.09 32.47737,6712025-12-07 01:59:0415.52%
DSP Value Fund 70,308 0.19 2.68N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 18.3518.5617.9722.1230.09
Diluted EPS (Rs.) 18.3518.5617.9722.1230.09
Cash EPS (Rs.) 24.5324.2623.4027.5435.44
Book Value[Excl.RevalReserv]/Share (Rs.) 149.99139.40128.77111.9198.00
Book Value[Incl.RevalReserv]/Share (Rs.) 149.99139.40128.77111.9198.00
Revenue From Operations / Share (Rs.) 261.54275.04293.31268.75231.20
PBDIT / Share (Rs.) 33.2434.8633.2436.8047.38
PBIT / Share (Rs.) 27.1329.2627.8131.3942.03
PBT / Share (Rs.) 23.2025.6224.2129.1539.59
Net Profit / Share (Rs.) 18.4218.6617.9722.1430.09
NP After MI And SOA / Share (Rs.) 18.4218.6517.9622.1430.09
PBDIT Margin (%) 12.7112.6711.3313.6920.49
PBIT Margin (%) 10.3710.649.4711.6818.18
PBT Margin (%) 8.879.318.2510.8417.12
Net Profit Margin (%) 7.046.786.128.2313.01
NP After MI And SOA Margin (%) 7.046.776.128.2313.01
Return on Networth / Equity (%) 12.2813.3713.9419.7830.69
Return on Capital Employeed (%) 14.2516.4317.2922.9233.46
Return On Assets (%) 6.537.046.869.2815.87
Long Term Debt / Equity (X) 0.200.210.170.130.16
Total Debt / Equity (X) 0.440.430.500.510.33
Asset Turnover Ratio (%) 0.951.041.171.181.19
Current Ratio (X) 1.601.661.601.481.77
Quick Ratio (X) 1.031.051.050.921.08
Inventory Turnover Ratio (X) 4.983.143.393.373.15
Dividend Payout Ratio (NP) (%) 5.425.365.564.518.30
Dividend Payout Ratio (CP) (%) 4.074.124.273.637.05
Earning Retention Ratio (%) 94.5894.6494.4495.4991.70
Cash Earning Retention Ratio (%) 95.9395.8895.7396.3792.95
Interest Coverage Ratio (X) 8.469.569.2516.4219.24
Interest Coverage Ratio (Post Tax) (X) 5.696.126.0010.8813.20
Enterprise Value (Cr.) 3706.384541.993725.824488.496770.51
EV / Net Operating Revenue (X) 1.551.801.371.803.14
EV / EBITDA (X) 12.2214.1712.1013.1715.33
MarketCap / Net Operating Revenue (X) 1.301.581.151.603.01
Retention Ratios (%) 94.5794.6394.4395.4891.69
Price / BV (X) 2.273.112.623.837.09
Price / Net Operating Revenue (X) 1.301.581.151.603.01
EarningsYield 0.050.040.050.050.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Aarti Drugs Ltd. is a Public Limited Listed company incorporated on 28/09/1984 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L37060MH1984PLC055433 and registration number is 055433. Currently Company is involved in the business activities of Manufacture of medicinal substances used in the manufacture of pharmaceuticals: antibiotics, endocrine products, basic vitamins; opium derivatives; sulpha drugs; serums and plasmas; salicylic acid, its salts and esters; glycosides and vegetable alkaloids; chemically pure suger etc.. Company's Total Operating Revenue is Rs. 2173.65 Cr. and Equity Capital is Rs. 91.27 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
PharmaceuticalsPlot No. 198, M.I.D.C., Palghar District Maharashtra 401506Contact not found
Management
NamePosition Held
Mr. Chandrakant V GogriChairman Emeritus
Mr. Prakash M PatilChairman & M.D & CEO
Mr. Rashesh C GogriManaging Director
Mr. Harshit M SavlaJoint Managing Director
Mr. Harit P ShahExecutive Director
Mr. Uday M PatilExecutive Director
Mr. Narendra J SalviNon Executive Director
Mr. Ankit V PalejaIndependent Director
Prof. Bhaskar N ThoratIndependent Director
Mrs. Neha R GadaIndependent Director
Mr. Hasmukh B DedhiaIndependent Director
Mr. Sandeep M JoshiIndependent Director
Mr. Ajit E VenugopalanIndependent Director

FAQ

What is the intrinsic value of Aarti Drugs Limited and is it undervalued?

As of 28 April 2026, Aarti Drugs Limited's intrinsic value is ₹250.72, which is 31.68% lower than the current market price of ₹367.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (13.0 %), book value (₹147), dividend yield (0.55 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Aarti Drugs Limited?

Aarti Drugs Limited is trading at ₹367.00 as of 28 April 2026, with a FY2026-2027 high of ₹575 and low of ₹319. The stock is currently near its 52-week low. Market cap stands at ₹3,347 Cr..

How does Aarti Drugs Limited's P/E ratio compare to its industry?

Aarti Drugs Limited has a P/E ratio of 18.0, which is below the industry average of 59.48. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Aarti Drugs Limited financially healthy?

Key indicators for Aarti Drugs Limited: ROCE of 13.5 % is moderate. Dividend yield is 0.55 %.

Is Aarti Drugs Limited profitable and how is the profit trend?

Aarti Drugs Limited reported a net profit of ₹157 Cr in Mar 2025 on revenue of ₹2,174 Cr. Compared to ₹195 Cr in Mar 2022, the net profit shows a declining trend.

Does Aarti Drugs Limited pay dividends?

Aarti Drugs Limited has a dividend yield of 0.55 % at the current price of ₹367.00. The company pays dividends, though the yield is modest.

Last Updated: April 25, 2026, 10:10 pm
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 524348 | NSE: AARTIDRUGS
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Aarti Drugs Limited. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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