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Aries Agro Ltd

ARIES
NSE
371.05
2.23%
Last Updated:
29 Apr '26, 4:00 PM
Company Overview
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Aries Agro Ltd

ARIES
NSE
371.05
2.23%
29 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
483Cr
Close
Close Price
371.05
Industry
Industry
Fertilizers - Phosphatic - Single Super Phosphate
PE
Price To Earnings
11.07
PS
Price To Sales
0.69
Revenue
Revenue
696Cr
Rev Gr TTM
Revenue Growth TTM
14.77%
PAT Gr TTM
PAT Growth TTM
38.98%
Peer Comparison
How does ARIES stack up?
Compare up to 10 companies side by side across valuation, profitability, and growth.
ARIES
VS

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
93107158147107135194170128161204203
Growth YoY
Revenue Growth YoY%
9.7-7.314.810.215.326.122.415.819.619.05.518.9
Expenses
ExpensesCr
9395129130108120159149127139166174
Operating Profit
Operating ProfitCr
0132917-11534221223829
OPM
OPM%
-0.311.918.611.6-0.811.417.712.70.813.518.714.1
Other Income
Other IncomeCr
000000000000
Interest Expense
Interest ExpenseCr
549453853582
Depreciation
DepreciationCr
322222223233
PBT
PBTCr
-871811-8112415-5142824
Tax
TaxCr
1364-2353-1587
PAT
PATCr
-105128-671911-4102017
Growth YoY
PAT Growth YoY%
-20.4-39.8-5.659.235.155.051.749.337.738.76.250.8
NPM
NPM%
-10.44.37.85.2-5.95.39.76.7-3.16.29.88.6
EPS
EPS
-7.23.69.66.0-4.35.614.58.9-2.87.715.413.3

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
305263253291265296381432472516622696
Growth
Revenue Growth%
2.4-13.8-3.915.4-8.911.628.813.39.29.420.511.8
Expenses
ExpensesCr
250217214245222256325386424461555606
Operating Profit
Operating ProfitCr
554639464440574748556790
OPM
OPM%
18.117.515.415.816.413.414.910.810.110.710.812.9
Other Income
Other IncomeCr
113237049350
Interest Expense
Interest ExpenseCr
242523292926262423221917
Depreciation
DepreciationCr
101172256688911
PBT
PBTCr
221212171616252025284461
Tax
TaxCr
347887779101118
PAT
PATCr
2085989171316183343
Growth
PAT Growth%
4.1-58.2-33.366.8-15.312.298.7-24.623.115.582.029.1
NPM
NPM%
6.43.12.23.12.92.94.53.03.43.65.46.2
EPS
EPS
13.05.65.48.17.67.513.810.213.214.926.233.5

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
131313131313131313131313
Reserves
ReservesCr
165159162170176181198211230247277307
Current Liabilities
Current LiabilitiesCr
211216217246262258259251238213235263
Non Current Liabilities
Non Current LiabilitiesCr
181720221926242835405372
Total Liabilities
Total LiabilitiesCr
444448450477494487501509520518581658
Current Assets
Current AssetsCr
345342357376384368376384382357397455
Non Current Assets
Non Current AssetsCr
9910693101110120125125137161184203
Total Assets
Total AssetsCr
444448450477494487501509520518581658

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
38344814445956695577105
Investing Cash Flow
Investing Cash FlowCr
-11-2513-2-10-41-14-13-16-26-34
Financing Cash Flow
Financing Cash FlowCr
-31-9-59-12-36-21-43-56-37-50-45
Net Cash Flow
Net Cash FlowCr
-4020-2-4001126
Free Cash Flow
Free Cash FlowCr
322047436464263394674
CFO To PAT
CFO To PAT%
196.9412.9875.6153.2576.2681.0328.9531.1342.2416.0314.3
CFO To EBITDA
CFO To EBITDA%
69.873.3122.530.4101.8147.999.5147.4114.2138.1156.1

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
13711720122911352100178192315329
Price To Earnings
Price To Earnings
8.417.528.521.911.45.35.613.411.216.29.7
Price To Sales
Price To Sales
0.50.40.70.70.30.10.20.30.30.50.4
Price To Book
Price To Book
0.80.71.11.30.60.30.50.80.81.21.1
EV To EBITDA
EV To EBITDA
5.25.98.48.46.24.84.26.26.06.95.1
Profitability Ratios
Profitability Ratios
GPM
GPM%
56.052.053.149.456.857.850.846.847.849.648.3
OPM
OPM%
18.117.515.415.816.413.414.910.810.110.710.8
NPM
NPM%
6.43.12.23.12.92.94.53.03.43.65.4
ROCE
ROCE%
13.811.011.413.012.512.314.313.314.215.218.6
ROE
ROE%
10.94.83.15.04.14.58.25.86.67.111.6
ROA
ROA%
4.41.81.21.91.61.83.42.53.13.65.8
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Aries Agro Limited, established in 1969, is a leading Indian multinational player in the **specialty plant nutrition** sector. The company specializes in **primary, secondary, and micronutrient fertilizers**, including **water-soluble NPKs, chelated nutrients, bio-stimulants, and organic certified products**. With a strong legacy of innovation—such as introducing **chelation technology** and **biodegradable nutrient complexes** to Indian agriculture—Aries Agro serves over **1.79 million farmers** across **26 Indian states** and has expanded its footprint into **eight international markets**. The company operates under a robust vertical integration model supported by **three domestic subsidiaries**—Mirabelle Agro Manufacturing Pvt Ltd, Aries Agro Equipments Pvt Ltd, and Golden Harvest Middle East FZC—and leverages strategic partnerships to deliver **integrated agri-input solutions**. --- ### **Recent Performance & Financial Highlights (as of FY 2024–25)** - **Standalone Gross Revenue**: ₹778.35 crores, reflecting a **17.22% year-on-year growth** from ₹664.03 crores (FY 2023–24). - **Annual Bookings (FY 2025–26)**: ₹830.44 crores secured from **1,717 dealers** across 26 states as of September 2025. - **Revenue Target for FY 2025–26**: ₹950 crores. - **R&D Investment**: ₹277.73 lakhs in FY 2024–25 (up from ₹246.33 lakhs), representing **0.36% of gross turnover**. - **Domestic Capacity Utilization**: 76.32% of **95,400 MT per annum** installed capacity across six manufacturing units (Mumbai, Hyderabad, Chhatral, Vijayawada, Lucknow, Raipur). - **UAE Plant Output (Fujairah)**: Produced **8,751 MT** of Sulphur Bentonite and other value-added sulphur products for domestic and global markets. --- ### **Strategic Expansion & International Presence** Aries Agro is actively diversifying geographically to reduce market concentration risk and capitalize on global demand: - **Export Markets**: Growing presence in **Australia, Brazil, New Zealand, Nigeria, Nepal, Philippines, Taiwan, UAE, and the Netherlands**. - **International Operations**: Supported by: - **Golden Harvest Middle East FZC** (UAE-based subsidiary) - **Amarak Chemicals FZC** (associate company, 49% owned by Golden Harvest) - **Global Sourcing**: 18% of raw materials sourced from **China, USA, Turkey, and UAE**, ensuring supply chain resilience and cost efficiency. - **Plant Expansion**: - Groundbreaking of a new **manufacturing plant in Lucknow** - Contract signed for a **Sulphur Bentonite facility in Jebel Ali, UAE** - Expanded office in **Vijayawada** --- ### **Innovation & Product Development** Aries Agro continues to lead in crop-specific and science-driven formulations: - **Recent Product Launches (FY 2024–25)**: - *Aries Ecoshield*: Plant immunity booster - *Majorsol Soybean & Pulses Special* - *Calmax*: Plant-based calcium-magnesium supplement - *Zinc HD Gold*: Concentrated liquid zinc - **Equipment Division**: Launched new models of **knapsack sprayers, soil testing devices**, and **Magic Traps** for pest management. - **Urban & Protected Farming Initiatives**: New product lines for **urban hobbyists, hydroponics, rooftop gardens**, and **protected cultivation**. - **R&D Focus Areas**: - Suspension liquids - Controlled-release fertilizers - Nano and organic fertilizers (baseline research) - AI-driven soil scanning and **precision agriculture tools** - **Agritech Push**: - DGCA-certified **drones for nutrient spraying** - Co-developed **drone pilot training program** with **ITM Skills University** - AI and robotics integration in farm input delivery --- ### **Farmer Engagement & Digital Transformation** Aries Agro has deeply institutionalized digital platforms to enhance accessibility and farmer trust: - **Farmer Outreach**: - Engaged **1.79 million farmers** through campaigns, expos, and field meetings in 2025. - Celebrated **Farmer Meetings Day**—a Guinness-recognized event covering **121 crops nationwide**. - **Digital Platforms**: - **Aries Everywhere App** (launched on iOS) for real-time agronomic support and order booking. - **Digital Dealer Bookings**: Increased efficiency and transparency; ₹830.44 crores in bookings via app. - **Call Centers**: Three centers (Tamil Nadu, Andhra Pradesh, Odisha) with 21 executives providing advisory to farmers. - **YouTube Channel (Agromax)**: Hosts *Fasal Sabha* weekly knowledge sessions and technical content. - **Social Media Reach**: ~**470,950** followers across YouTube, Facebook, Instagram, and Twitter. - **National Campaigns**: - *Sahi Chuno*, *Rythu Radham*, *I Built Aries*, *The Jeevan's Agri Show* - Recognized with **Mommys Award for Best Agriculture Brand on Social Media** --- ### **Strategic Partnerships & Collaborations** - **Co-Marketing Agreements (FY 2024–25)**: - Rallis India Ltd. - Seedlings India Pvt Ltd (Best Agrolife) - Godrej Agrovet Ltd. > These alliances enable Aries to distribute **patented plant protection molecules**, positioning it as a **one-stop agri-input provider**. - **Academic Collaborations**: - Partnered with **NMIMS, Welingkar, ITM, SPJIMR, Harvard University, and Cornell University** for employee training in innovation, strategy, and agri-tech. - **R&D Collaborations**: - Joint research with academic and scientific institutions. - Publications in reputed **agricultural journals**. --- ### **Operational Resilience & Sustainability** - **Supply Chain Modernization**: - Implemented **automation, improved warehousing, and inventory controls** to adapt to erratic monsoon patterns and fluctuating demand. - **Environmental Initiatives**: - Focused on **eco-friendly manufacturing processes**, aiming for **pollution-free and sustainable production**. - Conducts **EIQ (Environmental Intelligence Quotient)** assessments to promote environmental awareness among farming communities. - **CSR Activities**: - Runs **Annadanam (food donation)** at 50 locations—part of social commitment but not directly tied to core operations. --- ### **Global Participation & B2B Engagement** Aries Agro actively participates in global events to strengthen international presence: - **Key Exhibitions Attended (2024–2025)**: - **CAC Expo, Shanghai** (March 2024) – Explored bulk chemical trade with China. - **ICSCE 2024, Dubai** – Built B2B partnerships in agrochemicals and biologicals. - **Horti Agri Next, Thailand** - **PMFAI, Dubai** - **Stakeholder Engagements**: - Hosted **Bangladesh buyer delegation** in Mumbai. - Met agri-stakeholders from **New Zealand and Europe** in Singapore. - Engaged vendor from **Nigeria** in Ghaziabad to assess new market entry. --- ### **Leadership & Governance** - **Dr. Rahul Mirchandani (Director)**: Pioneer of disruptive marketing strategies in Indian agribusiness, including the first **sector-wide loyalty program**, **flash sales**, and **nationwide single-day brand launch**. - **Dr. Jimmy Mirchandani (Chairman’s brother and Consultant until 2027)**: Over **40 years of experience** in global agri-marketing and production; instrumental in advancing **chelation technology**. Former President, Indian Micro Fertilizers Manufacturers’ Association (2001–2005). ---