Aarti Drugs Limited (AARTIDRUGS.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-76.9%

₹106.77

vs ₹462.10 price

Levered DCF

₹534.89

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

3.46

Safe zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	14.97×	18.7×	24.53×	18.81×	19.38×	23.07×	8.28×	16.52×
P/B	1.88×	2.3×	3.28×	2.62×	3.83×	7.08×	1.79×	2.73×
P/S	1.14×	1.32×	1.66×	1.15×	1.6×	3×	0.65×	0.95×
EV / EBITDA	11.19×	13.07×	14.66×	11.96×	13.07×	15.42×	5.72×	9.14×
Gross margin	29.2%	35.4%	33.6%	13.6%	15.6%	27.9%	22.4%	20.1%
Operating margin	9.4%	30.7%	10.6%	9.8%	11.6%	18.4%	11.8%	10.6%
Net margin	7.6%	7.0%	6.8%	6.1%	8.2%	13.0%	7.8%	5.7%
Current ratio	1.59×	1.6×	1.66×	1.57×	1.48×	1.78×	1.44×	1.33×
Debt / equity	0.37×	0.45×	0.44×	0.51×	0.52×	0.38×	0.6×	0.93×
Interest coverage	7.19×	20.43×	7.09×	7.13×	12.06×	15.09×	5.7×	3.82×
Dividend yield	0.6%	0.3%	0.2%	0.3%	0.2%	0.4%	0.7%	0.2%
Payout ratio	9.3%	5.4%	5.4%	5.7%	4.6%	8.3%	6.0%	2.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.6%	12.3%	13.4%	13.9%	19.8%	30.7%	21.7%	16.5%
Return on invested capital	10.1%	28.1%	10.2%	10.5%	13.1%	22.0%	14.1%	10.1%
Return on assets	6.9%	6.5%	7.0%	6.9%	9.3%	15.9%	9.0%	6.1%
Free cash flow yield	1.7%	2.1%	3.2%	-1.0%	-2.1%	1.0%	17.3%	4.6%
Earnings yield	6.7%	5.3%	4.1%	5.3%	5.2%	4.3%	12.1%	6.1%
Enterprise value	₹34.9B	₹37.5B	₹47.6B	₹37.3B	₹44.9B	₹68.1B	₹15.5B	₹19.8B
Net debt / EBITDA	1.82×	2.12×	1.72×	1.93×	1.51×	0.77×	1.41×	2.32×
Cash conversion cycle (days)	121	128	110	122	124	118	106	1