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10 Yrs X-Ray 
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Aarti Surfactants Ltd (AARTISURF)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543210 NSE: AARTISURF Household & Personal Products | Small Cap | Aarti Surfactants Share Price
₹500 -16.90 (-3.27%)
As on 28-Sep'26 16:59
Aarti Surfactants Ltd (AARTISURF)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543210 NSE: AARTISURF Household & Personal Products | Small Cap | Aarti Surfactants Share Price
₹500 -16.90 (-3.27%)
As on 28-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹438 Cr.
Current Price
₹500
52-Week Low / High
₹318 / 680
TTM EPS
₹21.7
TTM Sales
₹916 Cr.
Book Value per Share
₹299.8
P/E Ratio
23.80
Lower than its 5-year historical median
Industry PE
42.6
Price to Book (P/B)
1.72
Lower than its 5-year historical median
Price to Sales (P/S)
0.48
Lower than its 5-year historical median
EV/EBITDA
9.42
Lower than its 5-year historical median
Dividend Yield
0.2%
Profitability Efficiency
Return on Equity (ROE)
6.46%
Underperforms industry median
Return on Capital Employed (ROCE)
9.82%
Underperforms industry median
Return on Assets (ROA)
3.23%
Operating Profit Margin
6.4%
Net Profit Margin
2.21%
Gross Profit Margin
5.1%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
11.74%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-32.53%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-31.83%
Asset Quality
Promoter Holding
49.84%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹245 Cr.
Equity
₹8.5 Cr.
Face Value
₹10
All Time Low / High
₹219.15 / 1856.65
Check Before You Invest
Quality
Not GoodValuation
UndervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Aarti Surfactants Ltd a good quality company?
Aarti Surfactants Ltd is a weak quality company, based on a inconsistent 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 Aarti Surfactants Ltd performance compare with that of its Peers?
Revenue growth of Aarti Surfactants Ltd vs industry peers?
Aarti Surfactants Ltd revenue CAGR is 15.13%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Aarti Surfactants Ltd?
Promoters hold 49.84% of the Aarti Surfactants Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Aarti Surfactants Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of -18.84% 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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Aarti Surfactants Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 0% | 0% | 0% | -1.5% | 5.9% | 13.2% | 6.9% | 10.6% | 14.9% | 9.9% | - |
| Value Creation Index ⓘ | NA | NA | NA | -1.1 | -0.6 | -0.1 | -0.5 | -0.2 | 0.1 | -0.3 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 0 | 0 | 0 | 264 | 326 | 466 | 576 | 601 | 590 | 659 | 916 |
| Sales YoY Gr. | - | NA | NA | NA | 23.3% | 42.9% | 23.6% | 4.5% | -1.9% | 11.7% | - |
| Adj EPS ⓘ | 0 | 0 | 0 | -1,278.6 | 2.6 | 28.1 | 7.1 | 15 | 26.3 | 11.5 | 22.1 |
| YoY Gr. | - | NA | NA | NA | NA | 984.9% | -74.6% | 109.5% | 75.6% | -56.3% | - |
| BVPS (₹) ⓘ | 0 | 0 | 0 | 25,077.2 | 144.1 | 172.3 | 176.5 | 211.7 | 259 | 276.7 | 302.1 |
| Adj Net Profit ⓘ | 0 | 0 | 0 | -6.5 | 2 | 21.6 | 5.5 | 12.7 | 22.3 | 9.7 | 19 |
| Cash Flow from Ops. ⓘ | 0 | 0 | 0 | -12.7 | 18.1 | 35.5 | 23.4 | 24.3 | 52 | 11.3 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | -7.6 | 6 | 4.3 | 6.9 | 6.1 | 1.9 | 9.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 15.1% | 4.6% | 11.7% | ||||
| Adj EPS ⓘ | NA | 34.7% | 17.2% | -56.3% | ||||
| BVPSⓘ | NA | 13.9% | 16.2% | 6.8% | ||||
| Share Price | - | -19.2% | -7.1% | 7.8% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 0 | 0 | 0 | -4.8 | 1.6 | 17.8 | 4.1 | 8.3 | 11.5 | 4.3 | 7.6 |
| Op. Profit Mgn % ⓘ | 0 | 0 | 0 | 2 | 7.2 | 9.8 | 5.6 | 7.9 | 10.7 | 6.4 | 6.1 |
| Net Profit Mgn % ⓘ | 0 | 0 | 0 | -2.5 | 0.6 | 4.7 | 1 | 2.1 | 3.8 | 1.5 | 2 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0.8 | 1 | 1.2 | 1.2 | 0.9 | 0.4 | 0.5 | - |
| Working Cap Days ⓘ | 0 | 0 | 0 | 0 | 114 | 106 | 112 | 110 | 118 | 127 | 54 |
| Cash Conv. Cycle ⓘ | 0 | 0 | 0 | 0 | 55 | 38 | 33 | 41 | 54 | 60 | 14 |
Valuation of Aarti Surfactants - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|
| Sales | 326 | 466 | 576 | 601 | 590 | 659 |
| Operating Expenses ⓘ + | 302 | 420 | 543 | 554 | 528 | 617 |
| Operating Profit ⓘ | 24 | 46 | 32 | 48 | 62 | 42 |
| Operating Profit Margin (%) | 7.2% | 9.8% | 5.6% | 7.9% | 10.5% | 6.4% |
| Other Income ⓘ + | 0 | 0 | 0 | 0 | 0 | 3 |
| Interest ⓘ | 10 | 10 | 11 | 15 | 14 | 12 |
| Depreciation ⓘ | 11 | 12 | 12 | 15 | 16 | 17 |
| Profit Before Tax ⓘ | 3 | 23 | 9 | 18 | 32 | 21 |
| Tax ⓘ | 1 | 1 | 4 | 5 | 11 | 6 |
| Profit After Tax | 2 | 22 | 5 | 13 | 21 | 15 |
| PAT Margin (%) | 0.6% | 4.6% | 1.0% | 2.1% | 3.6% | 2.2% |
| Adjusted EPS (₹) | 2.7 | 28.1 | 7.1 | 16.0 | 25.2 | 17.2 |
| Dividend Payout Ratio (%) | 0% | 10.50% | 0% | 0% | 0% | 5.80% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 111 | 133 | 136 | 168 | 218 | 232 | |||||
| Debt + | 109 | 146 | 155 | 123 | 71 | 88 | |||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | |||||
| Trade Payables | 19 | 78 | 70 | 57 | 67 | 92 | |||||
| Others Liabilities ⓘ | 23 | 30 | 41 | 55 | 66 | 65 | |||||
| Total Liabilities ⓘ | 262 | 387 | 402 | 404 | 422 | 477 | |||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 151 | 187 | 173 | 207 | 209 | 204 | |||||
| CWIP ⓘ | 14 | 20 | 52 | 8 | 8 | 15 | |||||
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | |||||
| Inventories | 56 | 73 | 75 | 77 | 99 | 134 | |||||
| Trade Receivables | 18 | 54 | 54 | 65 | 70 | 76 | |||||
| Cash Equivalents | 0 | 7 | 1 | 8 | 6 | 1 | |||||
| Others Assets ⓘ | 22 | 46 | 47 | 38 | 31 | 47 | |||||
| Total Assets ⓘ | 262 | 387 | 402 | 404 | 422 | 477 | |||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 18 | 36 | 23 | 25 | 52 | 11 |
| Cash Flow From Investing Activity ⓘ + | -2 | -60 | -23 | -11 | -16 | -16 |
| Cash Flow From Financing Activity ⓘ + | -16 | 32 | -6 | -8 | -37 | -0 |
| Net Cash Flow ⓘ | 0 | 7 | -5 | 6 | -1 | -5 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.88 | 17.76 | 4.09 | 8.36 | 11.05 | 6.46 | ||||
| ROCE (%) | 6.01 | 13.22 | 6.87 | 10.6 | 14.62 | 9.82 | ||||
| Asset Turnover Ratio | 1.24 | 1.44 | 1.46 | 1.49 | 1.43 | 1.47 | ||||
| PAT to CFO Conversion(x) | 9 | 1.64 | 4.6 | 1.92 | 2.48 | 0.73 | ||||
| Working Capital Days | ||||||||||
| Receivable Days | 20.10 | 28.40 | 34.50 | 36.40 | 41.90 | 40.50 | ||||
| Inventory Days | 63.30 | 50.80 | 46.90 | 46.20 | 54.60 | 64.70 | ||||
| Payable Days | 28.40 | 50.60 | 59.40 | 48.90 | 50.80 | 54.50 | ||||
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Announcements
Aarti Surfactants Ltd FAQs
The current trading price of Aarti Surfactants on 28-Sep-2026 16:59 is ₹500.0.
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 27-Sep-2026 the market cap of Aarti Surfactants stood at ₹437.9 Cr
The latest P/E ratio of Aarti Surfactants as of 27-Sep-2026 is 23.42.
The latest P/B ratio of Aarti Surfactants as of 27-Sep-2026 is 1.71.
The 52-week high of Aarti Surfactants is ₹680.0 and the 52-week low is ₹317.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Aarti Surfactants is ₹916 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Aarti Surfactants Ltd is a below average quality company.
The key valuation ratios of Aarti Surfactants Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Aarti Surfactants Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Aarti Surfactants Ltd
Aarti Surfactants Limited is a renowned supplier of innovative and high-quality specialty surfactants. The company produces both ionic as well as anionic specialty surfactants that find applications in industries such as Home & Personal Care, Agro and Oil industries, and Industrial Applications, among others. It has created a distinctive identity for itself in the global markets backed by its diversified product portfolio customised as per its clients’ needs
The company has established two state-of-the-art manufacturing facilities - one situated at Pithampur, Madhya Pradesh, and the other at Silvassa, Dadra and Nagar Haveli.
Business area of the company
The company is one of the leading producers of ionic and non-ionic surfactants and specialty products, serving Home & Personal Care, Industrial Applications, Agro and Oil industries in India and overseas and meeting the ever-changing market dynamics.
Product Group
- Surfactant
- Pearlizing Agents
- Blends
- Preservatives
- Mild Surfactants
- Sun Care
Market Segments
- Baby Care
- Oral Care
- Hair Care
- Home Care
- Industrial Application
- Skin and Personal Care
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