MoneyWorks4Me

Aries Agro Ltd (ARIES)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532935 NSE: ARIES Fertilizers | Small Cap | Aries Agro Share Price

₹473.85 10.60 (2.29%)

As on 24-Sep'26 16:59

Aries Agro Ltd (ARIES)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532935 NSE: ARIES Fertilizers | Small Cap | Aries Agro Share Price

₹473.85 10.60 (2.29%)

As on 24-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹602 Cr.
Current Price
₹473.9
52-Week Low / High
₹286 / 525
TTM EPS
₹36.7
TTM Sales
₹766 Cr.
Book Value per Share
₹268.5
P/E Ratio
12.62
Higher than its 5-year historical median
Industry PE
15.4
Price to Book (P/B)
1.73
Higher than its 5-year historical median
Price to Sales (P/S)
0.79
Higher than its 5-year historical median
EV/EBITDA
6.62
Higher than its 5-year historical median
Dividend Yield
0.53%
Profitability Efficiency
Return on Equity (ROE)
13.58%
Outperforms industry median
Return on Capital Employed (ROCE)
21.70%
Outperforms industry median
Return on Assets (ROA)
6.94%
Operating Profit Margin
10.3%
Net Profit Margin
5.73%
Gross Profit Margin
7.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
17.39%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
12.58%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
26.52%
Asset Quality
Promoter Holding
52.66%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹336 Cr.
Equity
₹13 Cr.
Face Value
₹10
All Time Low / High
₹24.50 / 524.50

Aries Agro stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Overvalued

Price Trend

Strong
Q.1 Is Aries Agro Ltd a good quality company?
Aries Agro Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Aries Agro Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Aries Agro Ltd vs industry peers?
Aries Agro Ltd revenue CAGR is 14.17%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Aries Agro Ltd?
Promoters hold 52.66% of the Aries Agro Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Aries Agro Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 14.9% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Aries Agro Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 16.3%17.2%16.4%15.3%17.4%16%16.6%17.1%19%21.2%-
Value Creation
Index
0.20.20.20.10.20.10.20.20.40.5-

Growth Parameters

Sales 217261265296381432470508598702728
Sales YoY Gr.-20.4%1.6%11.6%28.8%13.2%8.8%8.1%17.8%17.4%-
Adj EPS 9.211.510.98.718.512.711.115.723.524.532.9
YoY Gr.-24.5%-5.5%-19.8%112.6%-31.6%-12.3%41.3%49.1%4.5%-
BVPS (₹) 103.9112.4120.6129.3146.5160.5174.9190.5211.1240.1250.5
Adj Net
Profit
121514.111.324.116.514.520.530.531.943
Cash Flow from Ops. 29.730.848.157.455.36652.773.699.981.3-
Debt/CF from Ops. 3.84.93.42.62.41.61.80.80.40.5-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 13.9%13%14.3%17.4%
Adj EPS 11.5%5.7%30.1%4.5%
BVPS9.8%10.4%11.1%13.7%
Share Price 15% 26.1% 39.3% 20.1%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
9.210.69.3713.58.36.68.611.710.913.4
Op. Profit
Mgn %
18.517.51714.515.5111010.8109.111.5
Net Profit
Mgn %
5.65.75.33.86.33.83.145.14.55.9
Debt to
Equity
0.8110.90.70.50.40.30.10.1-
Working Cap
Days
318316371351290261239214179151112
Cash Conv.
Cycle
1921651621461251068686755651

Valuation of Aries Agro - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales253291265296381432472516622740
Operating Expenses + 214245222256325386424461555664
Manufacturing Costs38373235385153566780
Material Costs10012899108169204221233290355
Employee Cost 25262838394349556476
Other Costs 515462757988101116133154
Operating Profit 39464440574748556876
Operating Profit Margin (%) 15.4%15.7%16.4%13.4%14.9%10.8%10.1%10.7%10.9%10.3%
Other Income + 32370493513
Exceptional Items 0000000000
Interest 23292926262423221918
Depreciation 72256688911
Profit Before Tax 12171616252025284460
Tax 7887779101118
Profit After Tax 5989171316183342
PAT Margin (%) 2.2%3.1%2.9%2.9%4.5%3.0%3.4%3.6%5.4%5.7%
Adjusted EPS (₹)5.47.05.98.113.810.212.314.225.832.6
Dividend Payout Ratio (%)36.80%32.90%30.40%6.10%5.80%7.80%8.20%7.10%4.70%7.70%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 175183189194211224243260290334
Share Capital 13131313131313131313
Reserves 162170176181198211230247277321
Debt +13616716814512810191643534
Long Term Debt14161314121822263231
Short Term Debt12215015413111683693823
Minority Interest3826249764444
Trade Payables35585658526962475369
Others Liabilities 66435881103108120142200198
Total Liabilities 450477494487501509520517581639

Fixed Assets

Net Fixed Assets +7188954855687596110116
Gross Block13815713886100118127152169184
Accumulated Depreciation67704238455051565967
CWIP 22141512130021040
Investments 00059575762636784
Inventories142127130138141147144126133144
Trade Receivables14218218611612311811811311892
Cash Equivalents 11109443563330
Others Assets 625660109108115116111111133
Total Assets 450477494487501509520517581639
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 481444595669557710586
PBT 12171616252025284460
Adjustment 34293133333129292124
Changes in Working Capital 9-256175246284917
Tax Paid -7-7-8-7-6-7-6-9-10-15
Cash Flow From Investing Activity + 13-2-10-41-14-13-16-26-34-78
Capex -1-10-8-13-14-6-15-30-31-48
Net Investments 000-1-1-1-00-1-8
Others 138-2-271-5-14-1-21
Cash Flow From Financing Activity + -59-12-36-21-43-56-37-50-45-12
Net Proceeds from Shares -5-11-40000000
Net Proceeds from Borrowing 22-31-26446-2
Interest Paid -23-29-29-26-26-24-23-22-19-18
Dividend Paid -2-3-3-30-1-1-1-1-2
Others -312836-14-36-16-31-319
Net Cash Flow 20-2-4-001126-4
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)3.145.084.144.518.485.956.827.3112.1813.58
ROCE (%)10.8513.6912.4511.8114.6713.2614.5915.1518.9521.7
Asset Turnover Ratio0.70.760.660.760.961.091.191.31.461.57
PAT to CFO Conversion(x)9.61.565.56.563.295.313.444.283.182.05
Working Capital Days
Receivable Days152.10169.20209.70148.4092.1080.4070.6062.8052.4040.10
Inventory Days165.60140146.40131.60107.2095.8086.7073.3058.8052.80
Payable Days116.90132.50209.90193.70119.60109108.1085.3063.3063.10

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Announcements

Aries Agro Ltd FAQs

The current trading price of Aries Agro on 24-Sep-2026 16:59 is ₹473.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 23-Sep-2026 the market cap of Aries Agro stood at ₹602.4 Cr

The latest P/E ratio of Aries Agro as of 23-Sep-2026 is 14.07.

The latest P/B ratio of Aries Agro as of 23-Sep-2026 is 1.85.

The 52-week high of Aries Agro is ₹524.5 and the 52-week low is ₹286.2.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Aries Agro is ₹728 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Aries Agro Ltd is a good quality company.

The key valuation ratios of Aries Agro Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Aries Agro Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Aries Agro Ltd

Aries Agro was founded by T B Mirchandani and Bala Mirchandani in 1969. It is into the business of manufacturing of micronutrients and other nutritional products for plants and animals. It started its activity by manufacturing a small range of mineral feed additives for animals and birds and then diversified into mineral additives for the agriculture use. Its products were immediately accepted by the consumers and slowly it became the brand leader in the field of mineral nutrition with a range of products including mineral premixes, milk boosters, protein concentrates, vitamin premixes, anti-coccidian and anti-bacterial feed additives.

In 1975, it diversified into nutrients for plant. It had in-house expertise in the area of mineral nutrition and thereby decided to concentrate on the same. It conducted research on compounds that could deliver mineral nutrients to plants more efficiently. The research zeroed in on 'Metal Chelates'. The product had to be manufactured in accordance with the locally available ingredients and expertise which posed a challenge for the company. Through in-house R&D efforts, Aries Agro branched out into agrochemicals in 1975 with the introduction of Chelated Micronutrients. It pioneered the concept of Chelates in India with the introduction of 'Agromin', a micronutrient fertilizer in the year 1975, followed by 'Chelamin' in 1976. Agromin (chelated micronutrients) and Chelamin (chelated zinc) are the company's flagship brands. It is one of the leading manufacturer and seller of Chelates in the country.

The company also conducted in-house R&D to develop bactericides for agriculture. It was amongst the first few to receive license for use of bactericides for agricultural use from the Government of India. This was then followed by the introduction of plant hormones. In 2001, Aries expanded its product line to include secondary nutrients -- sulphur, magnesium and calcium. In the subsequent years, it continued expanding its plant nutrition product line to include value-added, water-soluble complexes of nitrogen (N), phosphorous (P) and potassium (K).

Aries today has several exclusive marketing arrangements with manufacturers of quality plant nutritional products all over the world. All products sourced from abroad are formulated with specific inputs from Aries' market intelligence and technical support from its technical support teams. The R&D efforts of its International partners have therefore taken into account the unique agro-climatic requirements of India. This ensures that all the products that Aries imports from Europe, Turkey, Singapore, USA and South America are all tailor-made to suit Indian conditions. 'Made For India' is indeed, the Aries mantra.

Since the turn of the millennium, Aries has positioned itself as India’s plant nutrients super bazar. It has emerged as India's most respected supplier of quality plant nutrition solutions, having a comprehensive range of primary, secondary and micronutrients all available under the Aries umbrella.

Products

  • Plant Nutrition 
  • Seeds & Plant Protection 
  • Farm Equipment

Certification/ Recognition

The company is ISO 9001:2000 certified

Milestones

  • First recipient of the coveted ISI mark for mineral feed supplements -- an honour not yet accorded to many major players in the Industry.
  • The company selected by the International Labour Organization, Switzerland to exemplify ideal Labour Relations in the Small Scale Sector in India.
  • First company to receive manufacturing permission for Agricultural Chelates.
  • First company to receive manufacturing permission for Agricultural Bactericides.
  • First company to indigenously manufacture Calcium Chelate.
  • Recipient of Transworld Gold Medal.
  • Recipient of National Unity Award.
  • Consistently represented on the Animal Feeds Committee of the Bureau of Indian Standards.
  • Responsible for the establishment of the Feed Additive Manufacturers Association of India.
  • Responsible for the establishment of the Indian Micronutrient Manufacturers Association.
  • TB Mirchandani was nominated for the International Award for Distinguished Leadership by the American Biographical Institute.
  • Aries is the first agribusiness company in India to successfully launch a Dealer Loyalty Programme, christened 'Khazaana', which is today recognized as India's most rewarding customer rewards programme in the agrochemical industry.
  • 2010 - Aries Agro has been awarded the ‘Trailblazers Brand Innovator Award 2010’ in the category of Agricultural Inputs.
    - One amongst 10 Agri Business companies selected by the United States Government to showcase agricultural innovation and its impact at the Indo Agri Expo held in Mumbai on 7th November, 2010
  • 2012 - The Company and Institute of Technology and Management (ITM) Trust have entered into a Memorandum of Understanding (MoU) to work together towards the launch of a specialized ITM-Aries Agro PGDM Program in Agribusiness Management.
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