ICICI Direct's research report on Aarti Industries
Established in 1984 by first generation technocrat Rajendra Gogri, Aarti Industries is a leading benzene-based speciality chemical company globally. The company primarily operates in two segments – speciality chemicals (84%) and pharma (14%). Pharma is further divided into APIs, intermediates and xanthine derivatives Aarti ranks among the top five globally for 75% of its portfolio. Its 200+ products are sold to 700+ domestic and 400+ export customers across the globe in 60 countries with a major presence in the US, Europe and Japan
We retain BUY rating on the back of better growth outlook from both speciality chemical and pharma segments We value Aarti Industries at 28x P/E FY24E EPS to arrive at a revised target price of Rs 1175/share (earlier Rs 1120/share).
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At 14:18 hrs Aarti Industries was quoting at Rs 993.90, down Rs 27.70, or 2.71 percent.
It has touched an intraday high of Rs 1,012.65 and an intraday low of Rs 990.30.
It was trading with volumes of 29,462 shares, compared to its thirty day average of 49,939 shares, a decrease of -41.00 percent.
In the previous trading session, the share closed up 1.06 percent or Rs 10.70 at Rs 1,021.60.
The share touched its 52-week high Rs 1,168.40 and 52-week low Rs 537.28 on 19 October, 2021 and 09 February, 2021, respectively.
Currently, it is trading 14.93 percent below its 52-week high and 84.99 percent above its 52-week low.
Market capitalisation stands at Rs 36,029.28 crore.
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