On 6 Nov 2026, Aarti Pharmalabs was priced at ₹929.10, or 32.8× trailing earnings, against an industry P/E of 28.7×. Sales and net profit fell 2.6% and 3.3% a year over 3 years; its ROCE of 11% is the second-lowest among the 7 largest Drug Manufacturers (Specialty & Generic) peers. Debt is 0.37× equity, and its dividend yield is 0.4%. It is a small-cap company with a market cap of ₹8,425 Cr, ranked 36th of 154 Drug Manufacturers (Specialty & Generic) companies by market cap; the shares rose 9.9% over the past year.
- ₹920.00
- ₹932.70
- ₹900.00
- ₹928.30
- 4.3 L
Health check
- ReturnsBehind
+9.9% over a year, better than 2 of 7 peers.
- Price tagIn line
P/E 32.8 vs industry 28.7.
- GrowthShrinking
Sales −2.6%, profit −3.3% a year over 3 years.
- ProfitabilityWeak
ROCE 11.0% vs peer median 17.9%.
- Balance sheetFair
Debt 0.37× equity, interest covered 6.0×, Piotroski 5 of 9.
- Red flags1 to check
Promoter stake down from 42.9% to 39.7%.
Small cap
Defensive
Key metrics
- Market cap
- ₹8,425 Cr
- Small cap
- P/E
- 32.8
- Industry 28.7
- Price to book
- 3.97
- Peers 4.99
- Dividend yield
- 0.43%
- ROE
- 8.5%
- Peers 14.7%
- ROCE
- 11.0%
- Peers 17.9%
- Debt to equity
- 0.37
- Debt ₹794 Cr
- EPS (TTM)
- ₹28.29
- Face value ₹5
- OPM (TTM)
- 23.1%
- Net margin 10.4%
- Sales growth
- +45.9%
- Latest quarter vs a year ago
- Profit growth
- +248.8%
- Latest quarter vs a year ago
- Price to sales
- 4.28
- EV/EBITDA 20.9
Strengths and risks
Strengths
- Quarterly profit up 248.8% on a year ago.
- Quarterly sales up 45.9% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Promoter stake down from 42.9% to 39.7%.
About Aarti Pharmalabs
Aarti Pharmalabs Limited, together with its subsidiaries, manufactures and sells active pharmaceutical ingredients, pharmaceutical intermediates, and xanthine derivatives in India and internationally. The company offers active pharmaceutical ingredients for various therapeutic areas, such as cardiovascular, anti-asthmatic, anti-cancer, anti-coagulant, anti-diabetic, arthritis, central nervous system agent, skincare, overactive bladder, calcimimetic,…
- Headquarters
- Mumbai
- Employees
- 2,421
- Sector
- Healthcare
- ISIN
- INE0LRU01027
- Website
- aartipharmalabs.com
Price range
- Avg volume (3M)
- 9.8 L
- 1-year return
- plus 9.9%
- From 52-week high
- minus 7.3%
Peers · Drug Manufacturers - Specialty & Generic
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SUNPHARMASun Pharmaceutical Industries | 1,860.00 | plus 1.69% | 4,46,276 | 40.7 | 4.99 | 17.9% | 13.1% | 28.2% | 10.4% | 10.6% | 0.86% | plus 8.2% |
| DIVISLABDivi's Laboratories | 10,320.50 | plus 1.78% | 2,73,977 | 93.6 | 16.35 | 19.0% | 16.2% | 34.9% | 11.0% | 12.1% | 0.29% | plus 49.0% |
| TORNTPHARMTorrent Pharmaceuticals | 4,750.00 | plus 0.85% | 1,80,675 | 80.2 | 9.83 | 9.1% | 15.7% | 33.7% | 13.3% | 20.2% | 0.80% | plus 31.7% |
| LAURUSLABSLaurus Labs | 2,340.00 | minus 0.26% | 1,26,433 | 94.4 | 20.86 | 19.5% | 24.0% | 30.4% | 3.8% | 4.0% | 0.09% | plus 138.6% |
| ZYDUSLIFEZydus Lifesciences | 1,197.90 | plus 0.41% | 1,19,491 | 28.6 | 4.29 | 19.0% | 14.7% | 26.2% | 16.5% | 37.0% | 0.08% | plus 22.8% |
| DRREDDYDr. Reddy's Laboratories | 1,373.00 | plus 0.51% | 1,14,462 | 40.9 | 2.96 | 14.2% | 7.3% | 15.9% | 11.0% | −1.7% | 0.58% | plus 13.8% |
| CIPLACipla | 1,411.00 | plus 0.49% | 1,13,993 | 39.4 | 3.22 | 14.9% | 8.3% | 17.3% | 7.2% | 11.5% | 0.92% | minus 6.6% |
| AARTIPHARMAarti Pharmalabs | 929.10 | plus 0.09% | 8,425 | 32.8 | 3.97 | 11.0% | 8.5% | 23.1% | −2.6% | −3.3% | 0.43% | plus 9.9% |
| Median of 7 peers | – | 0.51% | 1,26,433 | 40.9 | 4.99 | 17.9% | 14.7% | 28.2% | 11.0% | 11.5% | 0.58% | 22.8% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 418 | 432 | 583 | 536 | 610 | |
| 344 | 330 | 453 | 403 | 476 | |
| 74.7 | 102 | 130 | 133 | 135 | |
| 17.9% | 23.7% | 22.3% | 24.8% | 22.1% | |
| −10.5 | 4.6 | −3.4 | 11.3 | 7.9 | |
| 10.7 | 12.6 | 16.9 | 12.9 | 14.9 | |
| 24.8 | 28.6 | 28.2 | 30 | 30.5 | |
| – | −2.8 | – | – | −2 | |
| 28.8 | 62.9 | 81.7 | 101 | 95 | |
| 28.8% | 23.7% | 25.2% | 24.7% | 24.8% | |
| 20.5 | 48 | 61.1 | 76.1 | 71.5 | |
| 2.26 | 5.29 | 6.74 | 8.39 | 7.87 |
Profit & loss
- Sales CAGR 3Y
- −2.6%
- Profit CAGR 3Y
- −3.3%
- EPS CAGR 3Y
- −3.4%
- ROE
- 8.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,936 | 1,816 | 2,086 | 1,788 | |
| – | minus 6.2% | +14.9% | minus 14.3% | |
| 1,594 | 1,429 | 1,622 | 1,385 | |
| 342 | 386 | 464 | 402 | |
| 17.7% | 21.3% | 22.3% | 22.5% | |
| 2.2 | 3.7 | 10.1 | −15.5 | |
| 21.1 | 17.2 | 26.9 | 46.9 | |
| 62.5 | 73.2 | 86.9 | 104 | |
| 0.1 | 1.2 | 0 | −2.8 | |
| 261 | 300 | 361 | 233 | |
| 25.8% | 27.8% | 24.5% | 25.0% | |
| 193 | 217 | 272 | 175 | |
| – | +12.1% | +25.6% | minus 35.9% | |
| 21.35 | 23.93 | 30.04 | 19.25 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 45.3 | 45.3 | 45.3 | 45.3 | |
| 1,513 | 1,712 | 1,945 | 2,079 | |
| 215 | 285 | 421 | 769 | |
| 470 | 540 | 492 | 588 | |
| 2,244 | 2,582 | 2,902 | 3,482 | |
| 989 | 1,105 | 1,433 | 1,723 | |
| 64.7 | 90.8 | 329 | 322 | |
| 29.9 | 31.1 | 23.6 | 26.1 | |
| 63.1 | 94 | 51.6 | 8.9 | |
| 1,098 | 1,261 | 1,064 | 1,401 | |
| 2,244 | 2,582 | 2,902 | 3,482 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 250 | 216 | 330 | 262 | |
| −158 | −215 | −412 | −431 | |
| −163 | 9.7 | 65.4 | 171 | |
| −71.2 | 11.5 | −16.9 | 1.8 | |
| −120 | −199 | −444 | −448 | |
| 130 | 17.6 | −114 | −186 | |
| −18.1 | −18.1 | −31.7 | −36.3 |
Shareholding pattern
- Promoters39.66%
- Public60.34%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 39.66% | 60.34% | minus 3.20 | |
| 30 Jun 2026 | 42.86% | 57.14% | minus 0.22 | |
| 31 Mar 2026 | 43.08% | 56.92% | minus 0.02 | |
| 31 Dec 2025 | 43.10% | 56.90% | plus 0.22 | |
| 30 Sep 2025 | 42.88% | 57.12% | – |
Major shareholders
Filings & events
News
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