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Aarti Surfactants Ltd.
(AARTISURF)
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Rating:56Neutral
Price Target:
₹482.00
▲(24.29% Upside)
Action:Reiterated
Date:08/05/26
The score is driven primarily by mixed financial performance: improving leverage and a FY2026 revenue/cash-flow rebound are outweighed by sharp margin compression and inconsistent free cash flow. Technicals are supportive due to a strong uptrend versus moving averages, but overbought signals temper the outlook. Valuation is a headwind given a ~27.5 P/E and minimal dividend yield.
Positive Factors
Revenue Growth Recovery
The return to meaningful revenue growth indicates improving demand for the company’s surfactants and specialty chemicals after a weak prior year. Sustained top-line recovery can support better manufacturing utilization, strengthen customer relationships, and provide a base for earnings improvement.
Negative Factors
Gross Margin Compression
The sharp decline in gross margin indicates that revenue growth is not currently translating efficiently into gross profit. Persistently lower margins could reflect limited pricing power or cost pressure, reducing earnings resilience and limiting the cash available for reinvestment.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Recovery
The return to meaningful revenue growth indicates improving demand for the company’s surfactants and specialty chemicals after a weak prior year. Sustained top-line recovery can support better manufacturing utilization, strengthen customer relationships, and provide a base for earnings improvement.
Read all positive factors
Aarti Surfactants Ltd. (AARTISURF) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.96B
Dividend Yield0.22%
Average Volume (3M)619.00
Price to Earnings (P/E)21.0
Beta (1Y)1.83
Revenue Growth25.22%
EPS Growth20.38%
CountryIN
Employees393
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)21.72
Shares Outstanding8,470,905
10 Day Avg. Volume324
30 Day Avg. Volume619
Financial Highlights & Ratios
PEG Ratio-1.45
Price to Book (P/B)1.11
Price to Sales (P/S)0.32
P/FCF Ratio13.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Aarti Surfactants Ltd. Business Overview & Revenue Model
Company Description
Aarti Surfactants Limited, in conjunction with its subsidiary Aarti HPC Limited, specializes in the production and global distribution of a diverse range of surfactants, including ionic, non-ionic, and specialty types. These crucial chemical compo...
How the Company Makes Money
Aarti Surfactants Ltd. primarily makes money by manufacturing and selling surfactants and allied specialty chemical products to business customers (B2B). Revenue is generated from (1) sales of surfactants and surfactant intermediates used as input...
Aarti Surfactants Ltd. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
62
Positive
Cash Flow
49
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.16B | 8.59B | 6.59B | 5.86B | 5.97B | 5.70B |
| Gross Profit | 1.18B | 947.78M | 1.25B | 990.42M | 1.23B | 794.12M |
| EBITDA | 560.00M | 468.81M | 419.18M | 621.92M | 477.40M | 324.31M |
| Net Income | 183.99M | 123.42M | 145.45M | 213.27M | 127.05M | 54.95M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 5.17B | 4.77B | 4.22B | 4.02B | 4.02B |
| Cash, Cash Equivalents and Short-Term Investments | 134.31M | 134.31M | 12.07M | 63.15M | 76.89M | 14.29M |
| Total Debt | 0.00 | 1.04B | 1.10B | 992.09M | 1.49B | 1.62B |
| Total Liabilities | -2.45B | 2.72B | 2.45B | 2.04B | 2.36B | 2.67B |
| Stockholders Equity | 2.45B | 2.45B | 2.33B | 2.18B | 1.68B | 1.36B |
Cash Flow | ||||||
| Free Cash Flow | -8.16M | 201.22M | -90.98M | 356.08M | 139.31M | 7.76M |
| Operating Cash Flow | 216.41M | 652.27M | 111.38M | 519.61M | 247.84M | 233.18M |
| Investing Cash Flow | -239.22M | -450.85M | -161.63M | -162.19M | 85.61M | -225.41M |
| Financing Cash Flow | 16.49M | -79.18M | -3.67M | -371.15M | -270.86M | -60.80M |
Aarti Surfactants Ltd. Technical Analysis
Positive
387.80
Price Trends
508.74
Negative
467.93
Negative
430.08
Positive
Market Momentum
-13.54
Positive
44.20
Neutral
40.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AARTISURF, the sentiment is Positive. The current price of 387.8 is below the 20-day moving average (MA) of 480.31, below the 50-day MA of 508.74, and below the 200-day MA of 430.08, indicating a neutral trend. The MACD of -13.54 indicates Positive momentum. The RSI at 44.20 is Neutral, neither overbought nor oversold. The STOCH value of 40.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:AARTISURF.
Aarti Surfactants Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Neutral | ₹154.84B | 35.84 | ― | 0.22% | 7.26% | 5.73% | |
68 Neutral | ₹75.16B | 21.20 | ― | 1.04% | 27.05% | 16.13% | |
63 Neutral | ₹13.38B | 15.97 | ― | 0.91% | 40.77% | 54.07% | |
60 Neutral | ₹22.12B | 14.48 | ― | 0.13% | 19.76% | 11.74% | |
56 Neutral | ₹3.96B | 21.00 | ― | 0.22% | 25.22% | 20.38% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
42 Neutral | ₹16.15B | 323.46 | ― | 0.47% | 8.40% | ― |
* General Sector Average
IN:AARTISURF
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Aarti Surfactants Ltd. Corporate Events
Aarti Surfactants Widens Business Scope With Revised Memorandum of Association
Oct 1, 2026
Aarti Surfactants Ltd. has secured shareholder approval at its eighth annual general meeting to alter the main object clause of its Memorandum of Association, effectively expanding and clarifying the scope of its permitted business activities in c...
Aarti Surfactants Holds Eighth AGM with Clean Audit for FY 2025-26
Sep 29, 2026
Aarti Surfactants Ltd. conducted its eighth Annual General Meeting on September 29, 2026 via video conferencing and other audio-visual means, complying with guidance from the Ministry of Corporate Affairs and SEBI. Fifty-eight shareholders partici...
Aarti Surfactants Discloses AGM Investor Presentation to Exchanges
Sep 29, 2026
Aarti Surfactants Limited informed stock exchanges that it delivered an investor presentation to shareholders at its eighth Annual General Meeting held on September 29, 2026. The disclosure, made under SEBI’s listing regulations, underscores...
Aarti Surfactants Discloses Resignation of Independent Director Nisha B. Shah
Sep 12, 2026
Aarti Surfactants Ltd. has announced the resignation of Mrs. Nisha B. Shah from her role as Non-Executive Independent Director, effective from the close of business on September 11, 2026. The company disclosed that Shah has provided reasons in her...
Aarti Surfactants Sets Virtual AGM as It Releases FY 2025-26 Annual Report
Sep 4, 2026
Aarti Surfactants Ltd., a listed player in the surfactants and specialty chemicals space, serves home and personal care as well as industrial markets with its portfolio of surface-active agents and related products. Its dual listing on BSE and NSE...
Aarti Surfactants Secures Rating Upgrade to Crisil A-/Stable on Rs 200 Crore Bank Facilities
Sep 3, 2026
Aarti Surfactants Ltd., a listed surfactants manufacturer serving home, personal care and industrial markets, disclosed a change in its credit rating agency from CARE Ratings to Crisil Ratings for its bank loan facilities. The company’s acce...
Aarti Surfactants sets up wholly owned U.S. subsidiary to expand global reach
Aug 31, 2026
Aarti Surfactants Ltd. has incorporated a wholly owned overseas subsidiary, Precision Ingredients USA Inc., in the State of Wyoming, United States, to handle marketing, import, export, and trading of surfactants, specialty chemicals, and allied pr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.