Aries Agro Ltd Stock Analysis

BSE: 532935 | NSE: ARIES | Fertilizers | Small Cap

BSE Share Price 29-Sep-2023 18:02
179.60 3.65 (2.07%)

DeciZen - Make an Informed Decision on Aries Agro

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity

1. Quality

2. Valuation


3. Price Trend

Semi Strong

Aries Agro Price Chart

P/E Ratio (SA):
Market Cap:
233.6 Cr.
52-wk low:
52-wk high:
Bole Toh?

1. Is Aries Agro Ltd a good quality company?

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

2. Is Aries Agro Ltd undervalued or overvalued?

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

3. Is Aries Agro Ltd a good buy now?

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

10 Year X-Ray of Aries Agro:

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 some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

ROCE % 10.6%10.4%9.2%11.1%11.9%10.9%9.2%13.1%10.5%9.7%-
Value Creation Index -0.2-0.3-0.3-0.2-0.2-0.2-0.3-0.1-0.3-0.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 233234208217261265296381432470464
YoY Gr. Rt. %-0.5%-11.3%4.4%20.4%1.6%11.6%28.8%13.2%8.8%-
YoY Gr. Rt. %--9.6%-33.7%50%24.5%-5.5%-19.8%112.6%-31.6%-12.3%-
BVPS (₹) 102.5103.996.7103.9112.4120.6129.3146.5160.5174.9179.3
Adj Net Profit 13.412.18121514.111.324.116.514.517
Cash Flow from Ops. 24.631.125.329.730.848.157.455.36652.7-
Debt/CF from Ops.


CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8.1%12.5%16.6%8.8%
Adj EPS 0.9%-0.7%8.5%-12.3%
Share Price 17.1% 14.3% 32.3% 35.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Return on Equity %
Op. Profit Mgn % 18.515.816.318.517.51714.515.5111011.9
Net Profit Mgn %
Debt to Equity
Working Cap Days 3773743733183163713512902612390
Cash Conv. Cycle 231239231192165162146125106860

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 16.64%

Debt to equity has declined versus last 3 years average to 0.41

Return on Equity has declined versus last 3 years average to 7.40%

Net Profit has been subdued in last 3 years 8.47%

Sales growth is not so good in last 4 quarters at 4.55%

Latest Financials - Aries Agro Ltd.

Standalone Consolidated
TTM EPS (₹) 13.1 11.4
TTM Sales (₹ Cr.) 464 467
BVPS (₹.) 179.3 190.3
Reserves (₹ Cr.) 220 234
P/BV 1.00 0.94
PE 13.69 15.71
From the Market
52 Week Low / High (₹) 126.85 / 242.70
All Time Low / High (₹) 24.50 / 290.15
Market Cap (₹ Cr.) 234
Equity (₹ Cr.) 13
Face Value (₹) 10
Industry PE 16.2

Management X-Ray of Aries Agro :

Shareholding Pattern

Promoter's Holding & Share Pledging

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

Event Update

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Analyst's Notes

Key Ratios of Aries Agro

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)


Aries Agro Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Aries Agro on 29-Sep-2023 18:02 is : 179.6.
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 29-Sep-2023 18:02 the market cap of Aries Agro stood at ₹ 233.6.
The latest PE ratio of Aries Agro as of 29-Sep-2023 18:02 is 13.69.
The latest PB ratio of Aries Agro as of 29-Sep-2023 18:02 is 1.00
The 52-week high of Aries Agro is ₹ 242.7 and the 52-week low is ₹ 126.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Aries Agro is ₹ 463.8 ( Cr.) .

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.


  • Plant Nutrition 
  • Seeds & Plant Protection 
  • Farm Equipment

Certification/ Recognition

The company is ISO 9001:2000 certified


  • 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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