Aarti Industries Q4 Review - Valuation Already Factors In A Rosy Picture: Nirmal Bang
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Aarti Industries Q4 Review - Valuation Already Factors In A Rosy Picture: Nirmal Bang

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

Nirmal Bang Aarti Industries-Q4FY21 Result Update-19 May 2021.pdf


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