Aarti Industries (ARTO IN) – Q1FY27 Result Update – Revenue growth despite near-term volume headwinds – ACCUMULATE
Published on 31 Jul 2026
On the growth front, the company continues to advance multiple expansion initiatives, including the commissioning of the Calcium Chloride plant and ongoing projects such as MMA debottlenecking, MPP, PEDA, and Zone IV developments. These projects, along with incremental capacity from MMA and DCB debottlenecking and planned project commissioning during CY26, are expected to support medium-term growth. While near-term margins are likely to remain under pressure from elevated input costs, improving non-energy demand and upcoming capacity additions should support earnings growth over the medium term. We maintain our Accumulate rating with a target price of Rs526, valuing the stock at 28x FY28 EPS. The stock is currently trading at 26x FY28 EPS.
