Aarti Industries Q4 Review - Valuation Already Factors In A Rosy Picture: Nirmal Bang
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Nirmal Bang Report
Aarti Industries Ltd.’s Q4 FY21 operating performance was below our estimates mainly on the profitability side on account of maintenance shutdowns in select capacities of both specialty chemicals and pharmaceuticals divisions.
This resulted in lower volumes for few value added products.
Specialty chemicals and pharmaceuticals businesses grew by ~14% and ~8% YoY respectively during the quarter.
As per management, most of the products have clocked pre-Covid-19 volume on a normalised basis led by recovery in developed markets.
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