Aarti Industries Ltd.
AARTIINDCommodities filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
17 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 17 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220603 | 2022-03-31 | yes | |
| TRANSCRIPT | 20221122 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230213 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230515 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230816 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231110 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240216 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240520 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240820 | 2024-06-30 | yes | |
| ANALYST_MEET | 20241115 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250210 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250515 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250808 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251114 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260210 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260511 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260807 | 2026-06-30 | yes |
AARTIIND
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.
| Last close | 489.45 |
| 52-week range | 340.0 – 543.15 |
| Return 1M | -9.18% |
| Return 3M | 5.02% |
| Return 1Y | 27.68% |
| Return 3Y | -1.36% |
| Return 5Y | -46.56% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 2,387.00 |
| Other income | 3.00 |
| Total income | 2,390.00 |
| Cost of materials consumed | 1,647.00 |
| Purchases of stock-in-trade | 190.00 |
| Changes in inventories | -305.00 |
| Employee benefit expense | 120.00 |
| Finance costs | 83.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.42 | -0.00 |
| institutions foreign | 0.07 | -0.00 |
| institutions domestic | 0.21 | 0.01 |
| mutual funds | 0.12 | 0.01 |
| public | 0.58 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| ANALYST_MEET | 2024-09-30 | 1 |
| TRANSCRIPT | 2026-06-30 | 16 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,685.00 | 1,668.00 | 1,656.00 | 1,414.00 | 1,454.00 | 1,732.00 | 1,773.00 | 1,855.00 | 1,628.00 | 1,840.00 | 1,949.00 | 1,676.00 | 2,100.00 | 2,319.00 | 2,206.00 | 2,387.00 |
| Other income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 8.00 | -0.00 | 6.00 | 5.00 | 5.00 | -3.00 | 4.00 | 0.00 | 2.00 | -1.00 | 3.00 |
| Total income | 1,685.00 | 1,668.00 | 1,656.00 | 1,414.00 | 1,454.00 | 1,740.00 | 1,773.00 | 1,860.00 | 1,632.00 | 1,845.00 | 1,946.00 | 1,679.00 | 2,100.00 | 2,321.00 | 2,205.00 | 2,390.00 |
| Cost of materials consumed | 784.00 | 916.00 | 885.00 | 827.00 | 876.00 | 983.00 | 1,083.00 | 1,056.00 | 1,059.00 | 1,160.00 | 1,104.00 | 1,060.00 | 1,317.00 | 1,385.00 | 1,495.00 | 1,647.00 |
| Purchases of stock-in-trade | 58.00 | 127.00 | 69.00 | 84.00 | 23.00 | 26.00 | 71.00 | 75.00 | 39.00 | 34.00 | 72.00 | 73.00 | 77.00 | 215.00 | 235.00 | 190.00 |
| Changes in inventories | 136.00 | -67.00 | 8.00 | -58.00 | -45.00 | 92.00 | -83.00 | 24.00 | -81.00 | 36.00 | 75.00 | -11.00 | -19.00 | -69.00 | -409.00 | -305.00 |
| Employee benefit expense | 93.00 | 93.00 | 109.00 | 101.00 | 99.00 | 103.00 | 100.00 | 113.00 | 105.00 | 105.00 | 99.00 | 109.00 | 105.00 | 106.00 | 103.00 | 120.00 |
| Finance costs | 44.00 | 47.00 | 33.00 | 40.00 | 58.00 | 54.00 | 59.00 | 64.00 | 62.00 | 85.00 | 64.00 | 60.00 | 100.00 | 69.00 | 112.00 | 83.00 |
| Depreciation and amortisation | 73.00 | 82.00 | 84.00 | 89.00 | 93.00 | 97.00 | 98.00 | 102.00 | 108.00 | 111.00 | 113.00 | 114.00 | 120.00 | 121.00 | 119.00 | 124.00 |
| Other expenses | 347.00 | 311.00 | 333.00 | 258.00 | 267.00 | 268.00 | 319.00 | 281.00 | 310.00 | 273.00 | 331.00 | 233.00 | 329.00 | 360.00 | 439.00 | 353.00 |
| Total expenses | 1,535.00 | 1,508.00 | 1,521.00 | 1,342.00 | 1,372.00 | 1,623.00 | 1,647.00 | 1,716.00 | 1,601.00 | 1,805.00 | 1,858.00 | 1,637.00 | 2,029.00 | 2,187.00 | 2,094.00 | 2,212.00 |
| Profit before exceptional items and tax | 150.00 | 160.00 | 135.00 | 71.00 | 82.00 | 117.00 | 126.00 | 145.00 | 32.00 | 40.00 | 88.00 | 42.00 | 72.00 | 134.00 | 111.00 | 178.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.00 | 0.00 | 0.00 | 0.00 | 22.00 | -15.00 | 0.00 | 2.00 |
| Profit before tax | 150.00 | 160.00 | 135.00 | 71.00 | 82.00 | 117.00 | 126.00 | 145.00 | 34.00 | 40.00 | 88.00 | 42.00 | 94.00 | 118.00 | 111.00 | 180.00 |
| Current tax | 22.00 | 19.00 | -14.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10.00 | -11.00 | -0.00 | -3.00 | 0.00 | -2.00 | 1.00 | 1.00 | 24.00 |
| Deferred tax | 4.00 | 4.00 | 0.00 | 2.00 | -9.00 | -7.00 | -6.00 | -2.00 | -7.00 | -6.00 | -4.00 | -2.00 | -10.00 | -15.00 | -28.00 | 1.00 |
| Tax expense | 26.00 | 23.00 | -13.00 | 2.00 | -9.00 | -7.00 | -6.00 | 8.00 | -18.00 | -6.00 | -7.00 | -1.00 | -12.00 | -14.00 | -26.00 | 25.00 |
| Profit for the period | 124.00 | 137.00 | 149.00 | 70.00 | 91.00 | 124.00 | 132.00 | 137.00 | 52.00 | 46.00 | 96.00 | 43.00 | 106.00 | 133.00 | 137.00 | 155.00 |
| Profit attributable to owners | 0.00 | 0.00 | 149.00 | 70.00 | 91.00 | 124.00 | 132.00 | 138.00 | — | 46.00 | 96.00 | 48.00 | 106.00 | 133.00 | 137.00 | 0.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -14.00 | -8.00 | -7.00 | 6.00 | -3.00 | 2.00 | 2.00 | 1.00 | -3.00 | -8.00 | 24.00 | 4.00 | -12.00 | -7.00 | -28.00 | 15.00 |
| Total comprehensive income | 111.00 | 128.00 | 142.00 | 76.00 | 87.00 | 126.00 | 133.00 | 138.00 | 50.00 | 38.00 | 120.00 | 48.00 | 94.00 | 126.00 | 110.00 | 170.00 |
| Earnings per share, basic | 3.43 | 3.77 | 4.10 | 1.93 | 2.50 | 3.42 | 3.64 | 3.77 | 1.44 | 1.27 | 0.00 | 1.19 | 2.91 | 3.67 | 3.79 | 4.27 |
| Earnings per share, diluted | 3.43 | 3.77 | 4.10 | 1.93 | 2.50 | 3.42 | 3.64 | 3.77 | 1.44 | 1.27 | 0.00 | 1.19 | 2.91 | 3.66 | 3.78 | 4.26 |
Annual results, as filed
| Line | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 4,186.00 | 4,506.00 | 7,000.00 | 6,619.00 | 6,372.00 | 7,271.00 | 8,286.00 |
| Other income | 9.00 | 1.00 | 1.00 | 1.00 | 8.00 | 14.00 | 5.00 |
| Total income | 4,195.00 | 4,507.00 | 7,001.00 | 6,619.00 | 6,381.00 | 7,285.00 | 8,291.00 |
| Cost of materials consumed | 1,781.00 | 1,938.00 | 3,269.00 | 3,462.00 | 3,770.00 | 4,381.00 | 5,256.00 |
| Purchases of stock-in-trade | 275.00 | 244.00 | 287.00 | 314.00 | 204.00 | 220.00 | 600.00 |
| Changes in inventories | 1.00 | -53.00 | -261.00 | 66.00 | -94.00 | 54.00 | -508.00 |
| Employee benefit expense | 305.00 | 371.00 | 442.00 | 385.00 | 404.00 | 422.00 | 422.00 |
| Finance costs | 125.00 | 86.00 | 114.00 | 168.00 | 211.00 | 275.00 | 340.00 |
| Depreciation and amortisation | 185.00 | 231.00 | 289.00 | 310.00 | 378.00 | 434.00 | 474.00 |
| Other expenses | 847.00 | 1,025.00 | 1,335.00 | 1,303.00 | 1,112.00 | 1,193.00 | 1,347.00 |
| Total expenses | 3,519.00 | 3,842.00 | 5,474.00 | 6,008.00 | 5,985.00 | 6,981.00 | 7,933.00 |
| Profit before exceptional items and tax | 676.00 | 665.00 | 1,527.00 | 611.00 | 395.00 | 307.00 | 358.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.00 | 6.00 |
| Profit before tax | 676.00 | 665.00 | 1,527.00 | 611.00 | 395.00 | 307.00 | 365.00 |
| Current tax | 118.00 | 106.00 | 192.00 | 50.00 | 0.00 | -4.00 | -0.00 |
| Deferred tax | 11.00 | 23.00 | 27.00 | 16.00 | -21.00 | -19.00 | -54.00 |
| Tax expense | 129.00 | 129.00 | 219.00 | 66.00 | -21.00 | -24.00 | -54.00 |
| Profit for the period | 547.00 | 535.00 | 1,307.00 | 545.00 | 416.00 | 331.00 | 419.00 |
| Profit attributable to owners | 536.00 | 523.00 | 1,307.00 | 545.00 | 416.00 | 331.00 | 419.00 |
| Profit attributable to non-controlling interests | 11.00 | 12.00 | 0.00 | 0.00 | — | 0.00 | 0.00 |
| Other comprehensive income | -57.00 | 48.00 | 22.00 | -50.00 | 6.00 | 14.00 | -42.00 |
| Total comprehensive income | 489.00 | 583.00 | 1,330.00 | 495.00 | 422.00 | 345.00 | 377.00 |
| Earnings per share, basic | 30.77 | 30.04 | 36.06 | 15.04 | 11.49 | 0.00 | 11.56 |
| Earnings per share, diluted | 30.77 | 30.04 | 36.06 | 15.04 | 11.49 | 0.00 | 11.55 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 8,641.00 | 8,581.00 | 9,248.00 | 9,616.00 | 10,538.00 | 11,114.00 | 11,702.00 | 13,300.00 |
| Non-current assets | 5,844.00 | 6,122.00 | 6,540.00 | 7,147.00 | 7,658.00 | 8,219.00 | 8,590.00 | 9,113.00 |
| Current assets | 2,797.00 | 2,459.00 | 2,708.00 | 2,469.00 | 2,879.00 | 2,895.00 | 3,112.00 | 4,187.00 |
| Property, plant and equipment | 3,981.00 | 4,859.00 | 5,133.00 | 5,641.00 | 5,687.00 | 6,329.00 | 6,351.00 | 6,265.00 |
| Capital work-in-progress | 1,392.00 | 989.00 | 1,057.00 | 1,052.00 | 1,393.00 | 1,274.00 | 1,596.00 | 2,030.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 0.00 | 1.00 | 7.00 | 8.00 | 23.00 | 48.00 | 56.00 | 97.00 |
| Inventories | 924.00 | 1,031.00 | 1,196.00 | 1,160.00 | 1,549.00 | 1,454.00 | 1,254.00 | 1,732.00 |
| Trade receivables | 1,172.00 | 940.00 | 785.00 | 826.00 | 678.00 | 786.00 | 1,303.00 | 1,403.00 |
| Cash and cash equivalents | 1.00 | 167.00 | 165.00 | 42.00 | 114.00 | 199.00 | 144.00 | 583.00 |
| Total equity and liabilities | 8,641.00 | 8,581.00 | 9,248.00 | 9,616.00 | 10,538.00 | 11,114.00 | 11,702.00 | 13,300.00 |
| Equity | 4,689.00 | 4,921.00 | 5,030.00 | 5,290.00 | 5,443.00 | 5,605.00 | 5,712.00 | 5,955.00 |
| Equity share capital | 181.00 | 181.00 | 181.00 | 181.00 | 181.00 | 181.00 | 181.00 | 181.00 |
| Other equity | 4,507.00 | 4,739.00 | 4,848.00 | 5,109.00 | 5,262.00 | 5,424.00 | 5,531.00 | 5,774.00 |
| Total liabilities | 3,952.00 | 3,660.00 | 4,218.00 | 4,325.00 | 5,094.00 | 5,508.00 | 5,990.00 | 7,345.00 |
| Non-current liabilities | 1,202.00 | 877.00 | 1,658.00 | 1,748.00 | 1,857.00 | 2,042.00 | 2,006.00 | 2,306.00 |
| Current liabilities | 2,749.00 | 2,783.00 | 2,560.00 | 2,577.00 | 3,238.00 | 3,466.00 | 3,984.00 | 5,039.00 |
| Borrowings, non-current | 795.00 | 635.00 | 1,396.00 | 1,524.00 | 1,652.00 | 1,867.00 | 1,850.00 | 2,188.00 |
| Borrowings, current | 1,973.00 | 2,239.00 | 1,760.00 | 1,660.00 | 2,173.00 | 1,922.00 | 2,072.00 | 2,733.00 |
| Trade payables | 285.00 | 405.00 | 649.00 | 521.00 | 587.00 | 1,237.00 | 1,451.00 | 1,841.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 218.00 | 1,310.00 | 679.00 | 1,204.00 | 366.00 | 1,242.00 | 557.00 | 781.00 |
| Net cash from investing activities | -577.00 | -1,330.00 | -576.00 | -1,310.00 | -768.00 | -1,398.00 | -543.00 | -1,142.00 |
| Net cash from financing activities | 416.00 | 47.00 | 128.00 | 35.00 | 474.00 | -73.00 | -69.00 | 745.00 |
| Purchase of property, plant and equipment | 577.00 | 1,326.00 | 575.00 | 1,328.00 | 672.00 | 1,386.00 | 592.00 | 1,124.00 |
| Net increase in cash | 57.00 | 201.00 | 232.00 | -71.00 | 72.00 | -229.00 | -55.00 | 383.00 |
| con:CFO.BEFORE_TAX | 261.00 | 1,401.00 | 713.00 | 1,294.00 | 346.00 | 1,250.00 | 578.00 | 778.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -15.00 | 4.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 43.00 | 91.00 | 34.00 | 91.00 | -21.00 | -7.00 | 25.00 | -3.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 4.00 | 6.00 | 6.00 | 0.00 | 3.00 | 18.00 | 20.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 1.00 | 0.00 | 5.00 | 24.00 | 39.00 | 7.00 | 2.00 | 3.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 12.00 | 23.00 | 9.00 | 64.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 44.07 | 43.65 | 43.57 | 43.55 | 43.43 | 43.24 | 42.61 | 42.35 | 42.24 | 42.24 | 0.42 | 0.42 | 0.42 | 0.42 |
| Domestic institutions | 14.76 | 14.85 | 16.15 | 15.84 | 17.25 | 18.56 | 18.13 | 17.94 | 19.97 | 20.38 | 0.18 | 0.18 | 0.20 | 0.21 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 12.65 | 0.10 | 0.10 | 0.12 | 0.12 |
| Insurance companies | 7.51 | 7.52 | 7.42 | 7.85 | 7.87 | 8.11 | 8.01 | 7.78 | 7.93 | 7.27 | 0.08 | 0.08 | 0.08 | 0.08 |
| Foreign institutions | 12.32 | 12.17 | 10.57 | 10.83 | 10.93 | 10.61 | 9.68 | 7.25 | 6.29 | 6.44 | 0.06 | 0.07 | 0.07 | 0.07 |
| Government | — | — | — | — | — | — | — | — | — | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 55.93 | 56.35 | 56.43 | 56.45 | 56.57 | 56.76 | 57.39 | 57.65 | 57.76 | 57.76 | 0.58 | 0.58 | 0.58 | 0.58 |
| Non-institutional | 28.84 | 29.31 | 29.70 | 29.76 | 28.36 | 27.56 | 29.58 | 32.46 | 31.48 | 30.93 | 0.33 | 0.33 | 0.30 | 0.30 |
| Shares outstanding | 362504035 | 362504035 | 362504035 | 362504035 | 362504035 | 362504035 | 362519250 | 362519910 | 362519910 | 362553318 | 362593869 | 362593869 | 362594369 | 362726695 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Valiant Organics Limited | Other related party | Interest received, Purchase of goods or services, Sa | 1,883,500,000.00 | 3 |
| AARTI USA INC | Other related party | Sale of goods or services | 1,660,400,000.00 | 1 |
| Aarti Chemical Trading - FZCO | Subsidiary Company | Sale of goods or services | 968,200,000.00 | 1 |
| Aarti Pharmalabs Limited | Other related party | Purchase of goods or services, Sale of goods or serv | 481,000,000.00 | 2 |
| Ganesh Polychem Limited | Other related party | Purchase of goods or services, Sale of goods or serv | 420,900,000.00 | 2 |
| Alchemie Finechem Private Limited | Other related party | Purchase of goods or services, Sale of goods or serv | 237,800,000.00 | 2 |
| Alchemie Europe Limited | Other related party | Sale of goods or services | 75,300,000.00 | 1 |
| Aarti Drugs Limited | Other related party | Sale of goods or services | 58,200,000.00 | 1 |
| Aarti Bharuch Limited | Subsidiary Company | Advance, Interest received, Purchase of goods or ser | 48,700,000.00 | 3 |
| Shanti Intermediates Private Limited | Other related party | Purchase of goods or services, Sale of goods or serv | 43,900,000.00 | 2 |
| Alchemie Speciality Chemical Private Limited | Other related party | Purchase of goods or services, Sale of goods or serv | 29,400,000.00 | 2 |
| Rajendra Vallabhaji Gogri | Promoter/KMP | Remuneration | 20,700,000.00 | 1 |
| Rashesh Chandrakant Gogri | Promoter/KMP | Remuneration | 20,700,000.00 | 1 |
| Ajay Kumar Gupta | Director | Remuneration | 19,800,000.00 | 1 |
| Dilesh Roadlines Private Limited (Division : Shree Amulya Te | Other related party | Purchase of fixed assets | 14,400,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-07 | Q1FY27 | Read the call | |
| 2026-05-11 | Q4FY26 | Read the call | |
| 2026-02-10 | Q3FY26 | Read the call | |
| 2025-11-14 | Q2FY26 | Read the call | |
| 2025-08-08 | Q1FY26 | Read the call | |
| 2025-05-15 | Q4FY25 | Read the call | |
| 2025-02-10 | Q3FY25 | Read the call | |
| 2024-11-15 | Q2FY25 | Read the call | |
| 2024-08-20 | Q1FY25 | Read the call | |
| 2024-05-20 | Q4FY24 | Read the call | |
| 2024-02-16 | Q3FY24 | Read the call | |
| 2023-11-10 | Q2FY24 | Read the call | |
| 2023-08-16 | Q1FY24 | Read the call | |
| 2023-05-15 | Q4FY23 | Read the call | |
| 2023-02-13 | Q3FY23 | Read the call | |
| 2022-11-22 | Q2FY23 | Read the call | |
| 2022-06-03 | Q4FY22 | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | Yes, because this was already part of our existing CAPEX program and whatever we had guided. | Sir, on to the capex figures also, we have reduced it from INR1,200 crore to around INR1,000 crore. | So, in that context, and this is a debottlenecking CAPEX, so it is done very, very efficiently. | Couple of questions – as you mentioned about backward integration, I just need to understand that 250 TBD that you mentioned that is transferred into … | So, there's an upward revision of cost capex, which we have done now? | Sir, second question is in terms of the capex. | So I think the bulk of the CAPEX spend that we have committed right now is going to Zone-4. | What would be the balance capex that we plan to commission in this year? |
| Capital allocation | — | — | — | — | — | — | — | — |
| Costs | But despite this jump in revenue, the cost of raw materials has also gone up very high. | And both projects put together will deliver significant cost savings to AIL as part of their power cost saving initiatives. | So, we will scale up that as a market and on top of that, now the focus will shift around value chain integration, right, both in terms of developing … | From the raw material aspect in terms of China, there are some raw materials which are imported from China, there is a disconnect in domestic prices a… | Sir, second question is on the raw material prices that have started falling, including energy costs globally and also in oil-based derivatives. | No, actually, the price also depends on the raw materials. | Second, as the absolute tests are coming on the crude gasoline side, even the raw material is also coming down quite significantly. | It also has an impact in terms of our raw material cost goes up, right, both aniline and methanol at a significantly elevated level. |
| Debt and cash | So, you are expecting some relief from working capital there? | One is on the net debt number for the end of the December quarter, if you could please share that. | Sir, what would be our operating cash flow for 9 months? | — | My question is pertaining to the working capital and its funding. | If you can highlight while on receivables, we have seen an absolute reduction but inventory and overall working capital in terms of number of days rem… | Because if you look at from a cash flow perspective also, apart from operations, the increase in debtor days has led to a significant cash flow accret… | Is it because of the scope reduction or postponing of the cash flows to '27? |
| Demand | The first question was, given the demand recovery that you are witnessing, can you talk about your sales mix in terms of whether your reliance on non-… | We need ethylene, for which we have a pipeline supply. | Or is it just a case of there being demand and you being able to capture it at a fairly low cost? | Yes, basically overall the discretionary side demand has some impact, but we are able to rearrange our product mix and agrochemical side the demand is… | From the customers, we are hearing that progressively, the demand will increase on a quarter-on-quarter basis for this product line. | Whereas on the discretionary side, dyes, pigments, and other segments, there we are seeing good traction as far as demand is concerned. | I think there's a genuine demand supply imbalance issue for the agrochemical intermediates and downstream technicals. | And at that point in time, we actually might see an increase in demand, in that particular region, given practically the material flow to the region h… |
| Guidance | Congrats on a good set of numbers and it is heartening to see that the guidance remains intact for FY25. Sir, my first question again on the demand fr… | Even within that now, with Heubach getting acquired by an Indian entity, we expect our share of domestic market to go up for that particular end marke… | Sir, again, question is on MMA because it is full tariff now, with the recent announcement, should we expect some kind of a margin uptick on this beca… | By Q1, we will be able to guide on the CapEx front on this, but around this plant itself. | Second question is, is there a number that you've given for FY '24 in terms of EBITDA growth, while you are maintaining, I believe your FY '25 guidanc… | And the second question was with respect to your EBITDA guidance, which you've obviously maintained, but just wanted to get your sense in terms of the… | And we expect to continue this growth momentum at least on the volume side? | And when can we expect revenue accruals or sales to happen from these plants? |
| Margin | And even from the EBITDA perspective, whether from the first year of operation, right from FY25, we will get the EBITDA of 20% and 50% respectively fo… | Thanks for the opportunity and congrats on good volume recovery as well as absolute EBITDA expansion on sequential basis. | So that quantification will also be very helpful for us to understand the margin upside potential? | What would be the revenue potential of this facility and what would be the EBITDA margin that will contribute to your Company? | So, it will be lower than that, maybe around; we can put a number of around 15%, but there will be more clarity as we go forward on EBITDA front. | But in addition to that, the product mix, and a bit of margin improvement across the existing businesses has also helped in terms of improving the gro… | I think pricing and margin is a bit of a complex question to answer because there are second and third order impacts.The downstream exports of Chinese… | I just wanted to understand you have had a healthy gross margin expansion. |
| People | As the volume pressure eases and we are also going to add some more downstream products also in this range, we will see a better utilization coming in… | So the product end market and the domestic export ratio will keep varying, but broadly speaking given all the changes made in the configuration of the… | The utilization levels will gradually ramp up. | Given the challenging situation that is prevailing, do you think it will be a very staggered one than the earlier expectation, versus the INR 500 cror… | Can you please tell me what will be the total amount of Bank CC lines, non-fund-based lines and how much would be the utilization level as of March 31… | And what is the utilization level this operated on? | I think if you look at the capacity utilization numbers that we have given value chain by value chain, it clearly shows that we have significant upsid… | We do not anticipate all of it will go to a full capacity utilization in a very short time frame. |
| Pricing | And the second question I had was, in the presentation, you have mentioned that you have seen an improvement in pricing trends. | In both products, the price variation is there almost on sort of month-on- month quarter-on-quarter basis, but roughly you can assume that MMA at any … | So, I think the stated intent, which is available to everyone is to curb deflationary export pricing and the overcapacity situation in China, right, w… | But in terms of pricing, there is a disconnect for the raw materials, is this data point, correct? | While I understand your pricing mechanism kind of protects you from a gross profit or a pass-through mechanism. | Secondly, when you're looking at the day comparisons, I would request you to look at the numbers vis-à-vis the quarterly revenues and not the annual r… | Sir, on the agrochemical business, we had witnessed that volumes had reported an uptick, but pricing still remains under pressure. | On inventory, I think it is a bit of a mixed bag because though the pricing went up in March, many of our raw material pricing also went up simultaneo… |
| Revenue growth | This quarter we had witnessed that on a sequential basis, our top line has been robust. | And once it's proven, then the scale-up happens in a modular kind of fashion, so Abhijit, I'm not giving you the exact top line, bottom line number at… | Sir, on the agrochemical side, we have witnessed that on quarter-on-quarter basis and Y-o-Y basis, there is a dip in our top line. | On the revenues – for this fiscal, we have clocked roughly 42% revenue growth, this is excluding the termination income, so how much of this would be … | So directly, we will not be able to connect to top line. | — | I think that energy business volume growth was also linked to, as we explained in the last call, one of the shipment had got pushed out from Q3 to Q4.… | — |