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Swing Capital

Aarey Drugs & Pharmaceuticals Ltd

NSE: AAREYDRUGS BSE: 524412

Incorporated in 1990, Aarey Drugs & Pharmaceuticals Ltd is a manufacturer of API / Bulk Drugs and offers products for diverse industrial applications[1]

₹89
52W: ₹47.8 — ₹100
PE 73.6 · Book ₹52.5 · +70% vs book
Market Cap₹252 Cr
Stock P/E73.6Price to Earnings
ROCE6.38%Return on Capital
ROE2.96%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Debtor days have improved from 146 to 103 days.

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Promoter holding has decreased over last quarter: -1.35%
  • −The company has delivered a poor sales growth of 9.76% over past five years.
  • −Promoter holding is low: 37.7%
  • −Company has a low return on equity of 3.31% over last 3 years.
  • −Earnings include an other income of Rs.14.1 Cr.

Shareholding Pattern

Promoters37.71%
FIIs4.18%
DIIs1.62%
Public56.49%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters45.28%45.44%▲0.244.8%▼0.644.8%44.8%44.8%39.05%▼5.837.71%▼1.3
FIIs3.4%2.75%▼0.62.34%▼0.42.34%1.97%▼0.41.13%▼0.83.86%▲2.74.18%▲0.3
DIIs0%0%0%0%0%0%0%1.62%▲1.6
Public51.32%51.81%▲0.552.86%▲1.052.86%53.23%▲0.454.07%▲0.857.09%▲3.056.49%▼0.6

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales57.8376.48210.35126.91105.14133.79108.1102.2184.1696.43
Expenses55.9973.78211.79125.73101.42131.59112.31100.581.5297.94
Operating Profit1.842.7-1.441.183.722.2-4.211.712.64-1.51
OPM %3.18%3.53%-0.68%0.93%3.54%1.64%-3.89%1.67%3.14%-1.57%
Net Profit1.231.022.151.241.60.720.471.371.020.57
EPS ₹0.480.40.770.440.570.250.170.480.360.2

AI Insights

Revenue Trend

TTM revenue at ₹391Cr, down 17.5% YoY. OPM at 0%.

Debt Position

Borrowings at ₹51Cr. Debt-to-equity ratio: 0.42x. Healthy balance sheet.

Institutional Flow

DIIs: 1.62% (+1.62pp change). FIIs: 4.18% (+0.26pp change). Promoters hold 37.71%.

Margin & Efficiency

ROCE improving from 6% (Mar 2014) to 6% (Mar 2025). Working capital days: 89.

Valuation

PE 73.6x with 6.38% ROCE. Price is 70% above book value of ₹52.5. Dividend yield: 0%.

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