| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,454 | 1,732 | 1,773 | 1,851 | 1,628 | 1,843 | 1,949 | 1,675 | 2,100 | 2,318 | 2,205 | 2,387 | |
Growth YoY Revenue Growth YoY% | -13.7 | 3.9 | 7.1 | 30.9 | 12.0 | 6.4 | 9.9 | -9.5 | 29.0 | 25.8 | 13.1 | 42.5 |
| 1,221 | 1,473 | 1,489 | 1,546 | 1,431 | 1,612 | 1,687 | 1,463 | 1,809 | 1,997 | 1,864 | 2,005 | |
| 233 | 259 | 284 | 305 | 197 | 231 | 262 | 212 | 291 | 321 | 341 | 382 | |
OPM OPM% | 16.0 | 14.9 | 16.0 | 16.5 | 12.1 | 12.5 | 13.4 | 12.7 | 13.9 | 13.8 | 15.5 | 16.0 |
| 0 | 8 | -1 | 6 | 7 | 5 | 3 | 4 | 22 | -13 | 1 | 5 | |
Interest Expense Interest ExpenseCr | 58 | 54 | 59 | 64 | 62 | 85 | 64 | 60 | 100 | 69 | 112 | 83 |
Depreciation DepreciationCr | 93 | 97 | 98 | 102 | 108 | 111 | 113 | 114 | 120 | 121 | 119 | 124 |
PBT PBTCr | 82 | 116 | 126 | 145 | 34 | 40 | 88 | 42 | 93 | 118 | 111 | 180 |
| -9 | -8 | -6 | 8 | -18 | -6 | -8 | -1 | -13 | -15 | -26 | 25 | |
| 91 | 124 | 132 | 137 | 52 | 46 | 96 | 43 | 106 | 133 | 137 | 155 | |
Growth YoY PAT Growth YoY% | -26.6 | -9.2 | -11.4 | 95.7 | -42.9 | -62.9 | -27.3 | -68.6 | 103.8 | 189.1 | 42.7 | 260.5 |
NPM NPM% | 6.3 | 7.2 | 7.5 | 7.4 | 3.2 | 2.5 | 4.9 | 2.6 | 5.0 | 5.7 | 6.2 | 6.5 |
| 2.5 | 3.4 | 3.6 | 3.8 | 1.4 | 1.3 | 2.6 | 1.2 | 2.9 | 3.7 | 3.8 | 4.3 |
| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,454 | 1,732 | 1,773 | 1,851 | 1,628 | 1,843 | 1,949 | 1,675 | 2,100 | 2,318 | 2,205 | 2,387 | |
Growth YoY Revenue Growth YoY% | -13.7 | 3.9 | 7.1 | 30.9 | 12.0 | 6.4 | 9.9 | -9.5 | 29.0 | 25.8 | 13.1 | 42.5 |
| 1,221 | 1,473 | 1,489 | 1,546 | 1,431 | 1,612 | 1,687 | 1,463 | 1,809 | 1,997 | 1,864 | 2,005 | |
| 233 | 259 | 284 | 305 | 197 | 231 | 262 | 212 | 291 | 321 | 341 | 382 | |
OPM OPM% | 16.0 | 14.9 | 16.0 | 16.5 | 12.1 | 12.5 | 13.4 | 12.7 | 13.9 | 13.8 | 15.5 | 16.0 |
| 0 | 8 | -1 | 6 | 7 | 5 | 3 | 4 | 22 | -13 | 1 | 5 | |
Interest Expense Interest ExpenseCr | 58 | 54 | 59 | 64 | 62 | 85 | 64 | 60 | 100 | 69 | 112 | 83 |
Depreciation DepreciationCr | 93 | 97 | 98 | 102 | 108 | 111 | 113 | 114 | 120 | 121 | 119 | 124 |
PBT PBTCr | 82 | 116 | 126 | 145 | 34 | 40 | 88 | 42 | 93 | 118 | 111 | 180 |
| -9 | -8 | -6 | 8 | -18 | -6 | -8 | -1 | -13 | -15 | -26 | 25 | |
| 91 | 124 | 132 | 137 | 52 | 46 | 96 | 43 | 106 | 133 | 137 | 155 | |
Growth YoY PAT Growth YoY% | -26.6 | -9.2 | -11.4 | 95.7 | -42.9 | -62.9 | -27.3 | -68.6 | 103.8 | 189.1 | 42.7 | 260.5 |
NPM NPM% | 6.3 | 7.2 | 7.5 | 7.4 | 3.2 | 2.5 | 4.9 | 2.6 | 5.0 | 5.7 | 6.2 | 6.5 |
| 2.5 | 3.4 | 3.6 | 3.8 | 1.4 | 1.3 | 2.6 | 1.2 | 2.9 | 3.7 | 3.8 | 4.3 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 3,007 | 3,163 | 3,806 | 4,168 | 4,186 | 4,506 | 6,086 | 6,619 | 6,371 | 7,269 | 8,286 | 9,010 |
Growth Revenue Growth% | 3.4 | 5.2 | 20.3 | 9.5 | 0.5 | 7.6 | 35.0 | 8.8 | -3.7 | 14.1 | 14.0 | 27.0 |
| 2,434 | 2,510 | 3,107 | 3,202 | 3,209 | 3,525 | 4,365 | 5,530 | 5,397 | 6,272 | 7,119 | 7,675 | |
| 572 | 654 | 699 | 965 | 977 | 982 | 1,720 | 1,089 | 974 | 997 | 1,168 | 1,335 | |
OPM OPM% | 19.0 | 20.7 | 18.4 | 23.2 | 23.4 | 21.8 | 28.3 | 16.4 | 15.3 | 13.7 | 14.1 | 14.8 |
| 6 | 2 | 8 | 2 | 9 | 1 | 1 | 1 | 11 | 20 | 11 | 15 | |
Interest Expense Interest ExpenseCr | 117 | 117 | 132 | 183 | 125 | 86 | 102 | 168 | 211 | 275 | 340 | 364 |
Depreciation DepreciationCr | 99 | 123 | 146 | 163 | 185 | 231 | 246 | 310 | 378 | 434 | 474 | 484 |
PBT PBTCr | 363 | 416 | 429 | 622 | 676 | 665 | 1,372 | 611 | 395 | 307 | 365 | 502 |
| 95 | 88 | 83 | 118 | 129 | 129 | 186 | 66 | -21 | -24 | -54 | -29 | |
PAT PATCr | 268 | 328 | 346 | 504 | 547 | 535 | 1,186 | 545 | 416 | 331 | 419 | 531 |
Growth PAT Growth% | 38.4 | 22.2 | 5.7 | 45.7 | 8.4 | -2.1 | 121.6 | -54.0 | -23.6 | -20.5 | 26.7 | 124.0 |
NPM NPM% | 8.9 | 10.3 | 9.1 | 12.1 | 13.1 | 11.9 | 19.5 | 8.2 | 6.5 | 4.5 | 5.1 | 5.9 |
| 6.4 | 8.0 | 8.6 | 12.6 | 13.4 | 13.1 | 28.6 | 15.0 | 11.5 | 9.1 | 11.6 | 14.6 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 3,007 | 3,163 | 3,806 | 4,168 | 4,186 | 4,506 | 6,086 | 6,619 | 6,371 | 7,269 | 8,286 | 9,010 |
Growth Revenue Growth% | 3.4 | 5.2 | 20.3 | 9.5 | 0.5 | 7.6 | 35.0 | 8.8 | -3.7 | 14.1 | 14.0 | 27.0 |
| 2,434 | 2,510 | 3,107 | 3,202 | 3,209 | 3,525 | 4,365 | 5,530 | 5,397 | 6,272 | 7,119 | 7,675 | |
| 572 | 654 | 699 | 965 | 977 | 982 | 1,720 | 1,089 | 974 | 997 | 1,168 | 1,335 | |
OPM OPM% | 19.0 | 20.7 | 18.4 | 23.2 | 23.4 | 21.8 | 28.3 | 16.4 | 15.3 | 13.7 | 14.1 | 14.8 |
| 6 | 2 | 8 | 2 | 9 | 1 | 1 | 1 | 11 | 20 | 11 | 15 | |
Interest Expense Interest ExpenseCr | 117 | 117 | 132 | 183 | 125 | 86 | 102 | 168 | 211 | 275 | 340 | 364 |
Depreciation DepreciationCr | 99 | 123 | 146 | 163 | 185 | 231 | 246 | 310 | 378 | 434 | 474 | 484 |
PBT PBTCr | 363 | 416 | 429 | 622 | 676 | 665 | 1,372 | 611 | 395 | 307 | 365 | 502 |
| 95 | 88 | 83 | 118 | 129 | 129 | 186 | 66 | -21 | -24 | -54 | -29 | |
PAT PATCr | 268 | 328 | 346 | 504 | 547 | 535 | 1,186 | 545 | 416 | 331 | 419 | 531 |
Growth PAT Growth% | 38.4 | 22.2 | 5.7 | 45.7 | 8.4 | -2.1 | 121.6 | -54.0 | -23.6 | -20.5 | 26.7 | 124.0 |
NPM NPM% | 8.9 | 10.3 | 9.1 | 12.1 | 13.1 | 11.9 | 19.5 | 8.2 | 6.5 | 4.5 | 5.1 | 5.9 |
| 6.4 | 8.0 | 8.6 | 12.6 | 13.4 | 13.1 | 28.6 | 15.0 | 11.5 | 9.1 | 11.6 | 14.6 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 42 | 41 | 41 | 43 | 87 | 87 | 181 | 181 | 181 | 181 | 181 |
Reserves ReservesCr | 1,096 | 1,321 | 1,538 | 2,587 | 2,892 | 3,416 | 4,335 | 4,739 | 5,109 | 5,424 | 5,774 |
| 1,123 | 1,320 | 1,586 | 1,932 | 1,916 | 2,400 | 2,166 | 2,783 | 3,062 | 3,466 | 5,039 | |
| 654 | 752 | 1,150 | 1,211 | 1,343 | 1,726 | 1,168 | 877 | 1,762 | 2,042 | 2,306 | |
| 2,966 | 3,499 | 4,391 | 5,858 | 6,333 | 7,642 | 7,851 | 8,581 | 10,115 | 11,114 | 13,300 | |
| 1,234 | 1,317 | 1,685 | 2,577 | 2,005 | 2,368 | 2,699 | 2,459 | 2,959 | 2,895 | 4,187 | |
| 1,732 | 2,182 | 2,707 | 3,281 | 4,328 | 5,274 | 5,152 | 6,122 | 7,156 | 8,219 | 9,113 | |
| 2,966 | 3,499 | 4,391 | 5,858 | 6,333 | 7,642 | 7,851 | 8,581 | 10,115 | 11,114 | 13,300 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 42 | 41 | 41 | 43 | 87 | 87 | 181 | 181 | 181 | 181 | 181 |
Reserves ReservesCr | 1,096 | 1,321 | 1,538 | 2,587 | 2,892 | 3,416 | 4,335 | 4,739 | 5,109 | 5,424 | 5,774 |
| 1,123 | 1,320 | 1,586 | 1,932 | 1,916 | 2,400 | 2,166 | 2,783 | 3,062 | 3,466 | 5,039 | |
| 654 | 752 | 1,150 | 1,211 | 1,343 | 1,726 | 1,168 | 877 | 1,762 | 2,042 | 2,306 | |
| 2,966 | 3,499 | 4,391 | 5,858 | 6,333 | 7,642 | 7,851 | 8,581 | 10,115 | 11,114 | 13,300 | |
| 1,234 | 1,317 | 1,685 | 2,577 | 2,005 | 2,368 | 2,699 | 2,459 | 2,959 | 2,895 | 4,187 | |
| 1,732 | 2,182 | 2,707 | 3,281 | 4,328 | 5,274 | 5,152 | 6,122 | 7,156 | 8,219 | 9,113 | |
| 2,966 | 3,499 | 4,391 | 5,858 | 6,333 | 7,642 | 7,851 | 8,581 | 10,115 | 11,114 | 13,300 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 574 | 470 | 335 | 736 | 1,102 | 873 | 519 | 1,319 | 1,210 | 1,238 | 781 | |
| -452 | -529 | -610 | -797 | -1,124 | -1,322 | -1,169 | -1,330 | -1,369 | -1,393 | -1,142 | |
| -128 | 58 | 279 | 833 | -535 | 614 | 412 | 38 | 420 | -73 | 745 | |
Net Cash Flow Net Cash FlowCr | -7 | 0 | 4 | 772 | -557 | 165 | -239 | 27 | 261 | -229 | 383 |
Free Cash Flow Free Cash FlowCr | 124 | -60 | -279 | -55 | -23 | -442 | -646 | -8 | -97 | -137 | -340 |
CFO To PAT CFO To PAT% | 213.9 | 143.5 | 96.8 | 146.0 | 201.6 | 163.1 | 43.7 | 241.9 | 290.4 | 374.0 | 186.3 |
CFO To EBITDA CFO To EBITDA% | 100.2 | 71.9 | 47.9 | 76.3 | 112.8 | 88.9 | 30.1 | 121.1 | 124.2 | 124.1 | 66.9 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 574 | 470 | 335 | 736 | 1,102 | 873 | 519 | 1,319 | 1,210 | 1,238 | 781 | |
| -452 | -529 | -610 | -797 | -1,124 | -1,322 | -1,169 | -1,330 | -1,369 | -1,393 | -1,142 | |
| -128 | 58 | 279 | 833 | -535 | 614 | 412 | 38 | 420 | -73 | 745 | |
Net Cash Flow Net Cash FlowCr | -7 | 0 | 4 | 772 | -557 | 165 | -239 | 27 | 261 | -229 | 383 |
Free Cash Flow Free Cash FlowCr | 124 | -60 | -279 | -55 | -23 | -442 | -646 | -8 | -97 | -137 | -340 |
CFO To PAT CFO To PAT% | 213.9 | 143.5 | 96.8 | 146.0 | 201.6 | 163.1 | 43.7 | 241.9 | 290.4 | 374.0 | 186.3 |
CFO To EBITDA CFO To EBITDA% | 100.2 | 71.9 | 47.9 | 76.3 | 112.8 | 88.9 | 30.1 | 121.1 | 124.2 | 124.1 | 66.9 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 4,311 | 6,288 | 9,302 | 13,634 | 13,274 | 22,939 | 34,664 | 18,785 | 24,155 | 14,156 | 14,462 | 17,991 |
Price To Earnings Price To Earnings | 16.8 | 19.9 | 27.9 | 27.7 | 24.8 | 43.8 | 29.2 | 34.5 | 58.0 | 42.8 | 34.5 | 33.9 |
Price To Sales Price To Sales | 1.4 | 2.0 | 2.4 | 3.3 | 3.2 | 5.1 | 5.7 | 2.8 | 3.8 | 1.9 | 1.8 | 2.0 |
Price To Book Price To Book | 3.8 | 4.6 | 5.9 | 5.2 | 4.5 | 6.5 | 7.7 | 3.8 | 4.6 | 2.5 | 2.4 | 3.0 |
EV To EBITDA EV To EBITDA | 9.6 | 11.8 | 16.0 | 15.5 | 15.2 | 25.5 | 21.6 | 19.7 | 28.0 | 17.8 | 16.1 | 16.8 |
GPM GPM% | 29.4 | 31.8 | 30.0 | 35.8 | 37.0 | 37.9 | 41.1 | 29.1 | 26.9 | 26.4 | 26.0 | 26.0 |
OPM OPM% | 19.0 | 20.7 | 18.4 | 23.2 | 23.4 | 21.8 | 28.3 | 16.4 | 15.3 | 13.7 | 14.1 | 14.8 |
NPM NPM% | 8.9 | 10.3 | 9.1 | 12.1 | 13.1 | 11.9 | 19.5 | 8.2 | 6.5 | 4.5 | 5.1 | 5.9 |
ROCE ROCE% | 20.2 | 19.1 | 16.0 | 17.0 | 16.7 | 12.5 | 20.8 | 10.0 | 6.8 | 6.2 | 6.5 | 6.5 |
ROE ROE% | 23.6 | 24.0 | 21.9 | 19.2 | 18.4 | 15.3 | 26.3 | 11.1 | 7.9 | 5.9 | 7.0 | 7.0 |
ROA ROA% | 9.0 | 9.4 | 7.9 | 8.6 | 8.6 | 7.0 | 15.1 | 6.3 | 4.1 | 3.0 | 3.1 | 3.1 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 4,311 | 6,288 | 9,302 | 13,634 | 13,274 | 22,939 | 34,664 | 18,785 | 24,155 | 14,156 | 14,462 | 17,991 |
Price To Earnings Price To Earnings | 16.8 | 19.9 | 27.9 | 27.7 | 24.8 | 43.8 | 29.2 | 34.5 | 58.0 | 42.8 | 34.5 | 33.9 |
Price To Sales Price To Sales | 1.4 | 2.0 | 2.4 | 3.3 | 3.2 | 5.1 | 5.7 | 2.8 | 3.8 | 1.9 | 1.8 | 2.0 |
Price To Book Price To Book | 3.8 | 4.6 | 5.9 | 5.2 | 4.5 | 6.5 | 7.7 | 3.8 | 4.6 | 2.5 | 2.4 | 3.0 |
EV To EBITDA EV To EBITDA | 9.6 | 11.8 | 16.0 | 15.5 | 15.2 | 25.5 | 21.6 | 19.7 | 28.0 | 17.8 | 16.1 | 16.8 |
GPM GPM% | 29.4 | 31.8 | 30.0 | 35.8 | 37.0 | 37.9 | 41.1 | 29.1 | 26.9 | 26.4 | 26.0 | 26.0 |
OPM OPM% | 19.0 | 20.7 | 18.4 | 23.2 | 23.4 | 21.8 | 28.3 | 16.4 | 15.3 | 13.7 | 14.1 | 14.8 |
NPM NPM% | 8.9 | 10.3 | 9.1 | 12.1 | 13.1 | 11.9 | 19.5 | 8.2 | 6.5 | 4.5 | 5.1 | 5.9 |
ROCE ROCE% | 20.2 | 19.1 | 16.0 | 17.0 | 16.7 | 12.5 | 20.8 | 10.0 | 6.8 | 6.2 | 6.5 | 6.5 |
ROE ROE% | 23.6 | 24.0 | 21.9 | 19.2 | 18.4 | 15.3 | 26.3 | 11.1 | 7.9 | 5.9 | 7.0 | 7.0 |
ROA ROA% | 9.0 | 9.4 | 7.9 | 8.6 | 8.6 | 7.0 | 15.1 | 6.3 | 4.1 | 3.0 | 3.1 | 3.1 |
Documents — Aarti Industries Ltd
Concall Transcript Summaries — Aarti Industries Ltd