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AARTIIND Consensus Forecast
No. of reports in last year
14
No. of analysts
9
Average Consensus Forecast
1219.64
Consensus Potential
22.88%
AARTIIND Price Target Potential
| Brokerage | Target | Potential |
|---|---|---|
| Reliance Securities | 1232 | 25.66% |
| HDFC Securities | 1100 | 16.74% |
| ICICIdirect.com | 1085 | 15.59% |
| Sharekhan | 1155 | 20.70% |
| Prabhudas Lilladher | 985 | 7.02% |
AARTIIND Ratings
Long term AARTIIND rating by FrontPage users
- ★★
- ★★
- ★★
- ★★
- ★★
4/5 (9 Ratings)
14 AARTIIND share price target reports by brokerages below. See what is analyst's view on AARTIIND share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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AARTIIND Share Price Target
AARTIIND Share Price Target - Broker Reports - 2021
Reliance Securities
17-Sep-21
Price @ Call: 953
Target: 1232
BUY
HDFC Securities
10-Aug-21
Price @ Call: 952
Target: 1100
BUY
ICICIdirect.com
23-Aug-21
Price @ Call: 926
Target: 1085
BUY
Sharekhan
9-Aug-21
Price @ Call: 951
Target: 1155
BUY
Prabhudas Lilladher
9-Aug-21
Price @ Call: 951.25
Target: 985
HOLD
Axis Direct
9-Aug-21
Price @ Call: 951.25
Target: 925
HOLD
ICICIdirect.com
11-Aug-21
Price @ Call: 919.55
Target: 1085
BUY
Geojit Financial Services
21-May-21
Price @ Call: 1664.8
Target: 1902
ACCUMULATE
Axis Direct
2-Feb-21
Price @ Call: 1185
Target: 1298
BUY
Prabhudas Lilladher
29-Jan-21
Price @ Call: 1180
Target: 1314
ACCUMULATE
AARTIIND Share Price Target - Broker Reports - 2020
KRChoksey
13-Nov-20
Price @ Call: 1086.74
Target: 1271
BUY
East India Securities Ltd
12-Nov-20
Price @ Call: 1080.16
Target: 1228
BUY
Geojit Financial Services
12-Nov-20
Price @ Call: 1080.16
Target: 1232
ACCUMULATE
Axis Direct
12-Nov-20
Price @ Call: 1080.16
Target: 1263
BUY
Prabhudas Lilladher
15-Jun-20
Price @ Call: 864.7
Target: 1024
ACCUMULATE
We tweak our FY21/22E estimate by 16.6%/3.1% respectively as we incorporate higher revenues from termination of multi-year contract. Termination of AIL’s marquee contract to supply agro chemical intermediates is a setback, as the company has to now scout for new opportunities, which are likely to be of lower margins against 40% EBIDTA margin for the terminated one. This will reduce the LT margin profile of AIL. Payment of termination fee of USD120-130m by March 22 will reduce NPV loss to ~24%, in our view. The project economics will further improve as the company plans to supply intermediates to other Active Ingredient players or bring it for other end uses, which provide upside risk to our estimates. We remain structurally positive on AIL’s growth prospects given its diversified product portfolio, but will wait for better entry points given the macro challenges. Maintain ACCUMULATE with a revised PT of Rs 1,024 (Rs 992) based on 24x FY22E.
Geojit Financial Services
8-Jun-20
Price @ Call: 926.05
Target: 1151
BUY
In the near term revenue growth is likely to be impacted by lower volume off-take of specialty chemicals. However, we remain constructive on ARTO’s long term growth given strong capacity building focusing on global markets, backward integration and increase in downstream products. With start of execution of multi year contracts, revival in volumes from Specialty chemicals & Pharma segments and improved outlook on account issues in China, will benefit the company in the long run. We value ARTO at 28x on FY22 and upgrade to Buy from Accumulate with target price of Rs1,151.
Axis Direct
7-Apr-20
Price @ Call: 796
Target: 888
BUY
CD Equisearch
23-Mar-20
Price @ Call: 708.54
Target: 890
BUY
Much of the low double digit growth in Indian specialty chemicals industry over the next few years would manifest not least due to GOI's increased focus on affordable housing and greater use in end-user industries such as textiles, automotive, personal care, construction and agriculture. Industry growth will barely waver all thanks to ever-tightening environmental norms in China and acceleration in Indian R&D outlay. Affordable and ample feedstock availability coupled with low cost skilled labor would all but stymie throughput at Indian chemical factories. Sufficient efforts are being made by GOI to improve global competitiveness of Indian chemical industry with an aim to boost chemical industry's GDP share
Prabhudas Lilladher
14-Feb-20
Price @ Call: 971.55
Target: 1154
BUY
We tweak our estimates by 1-6% to factor in likely jump in profitability given disruption in Chinese supplies even as we moderate the ramp up of new LT contracts. For FY21E. AIL with a diversified product portfolio of 200 products remain well placed to capitalize on rising investment in domestic downstream industries along with opportunities from China disruption. We remain structurally positive on AIL’s growth prospects with a revised PT of Rs1,154 (Rs988 earlier) based on 24x FY22E vis-à-vis 22x Sept 21 earlier in line with the rerating of the sector (valuation table in 2nd page).
AARTIIND Share Price Target - Broker Reports - 2019
Geojit Financial Services
28-Nov-19
Price @ Call: 832.69
Target: 933
ACCUMULATE
Reliance Securities
15-Nov-19
Price @ Call: 808.49
Target: 929
BUY
Looking ahead, ARTO is expected to continue to trim down the volumes of base chemicals, which might impact its near-term volume growth. However, we believe that higher share of value-added products augurs well for ARTO in the long-term. We continue to remain enthused with ARTO’s leadership position, long-term growth prospects, multi-year long-term deals, aggressive capex and focus on value-added products. Factoring in the revenue miss in 2QFY20, we cut our revenue estimate by 12% each for FY20E/FY21E, while keeping our EBITDA/ PAT estimates largely unchanged. Expecting ARTO’s EBITDA to clock 16% CAGR over FY19- 21E, we maintain our BUY recommendation on the stock with a Target Price of Rs929, which implies 16% upside from the current level.
Prabhudas Lilladher
14-Nov-19
Price @ Call: 801.19
Target: 988
BUY
We tweak our estimates to factor in lower revenue growth from 1) lower RM prices 2) demand weakness in auto and US agrochemicals business and 3) lower tax rate. AIL with a diversified product portfolio of 200 products remain well placed to capitalize on rising investment in domestic downstream industries along with global opportunities from US-China trade war. Weremain structurally positive on AIL’s growth prospects despite near termweakness in growth. Reiterate BUY with a revised PT of Rs988 (Rs990 earlier).
Axis Direct
11-Oct-19
Price @ Call: 761.12
Target: 875
BUY
Axis Direct
18-Sep-19
Price @ Call: 1545.26
Target: 1668
HOLD
Aarti Industries Ltd. (AIL) is a leading Indian manufacturer of Chemical & Pharmaceutical intermediates with a global footprint. From a longer term perspective, AIL is well positioned in the global market with marquee customer base, robust margins, strong balance sheet and diversified product portfolio. With the company expanding its product portfolio and existing capacities and the shift in demand from China, it is expected to drive steady earnings growth for AIL. We expect the specialty chemicals and pharma segments to witness robust growth with pharma being the outperformer and estimate AIL to post revenues at a CAGR of 13% and PAT at 21% over FY19-FY21E. However, given the slowdown concerns that could impact its business performance in H2FY20 and revision in guidance by management, our estimates too undergo a sharp revision. We now value AIL at 20x its FY21 Sept 19 earnings with a revised TP of Rs. 1,668 (earlier Rs 1,826).
CD Equisearch
26-Aug-19
Price @ Call: 1498
Target: 1741
ACCUMULATE
Prabhudas Lilladher
22-Aug-19
Price @ Call: 1473.55
Target: 1980
BUY
AIL has signed 3 multi-year long projects with MNCs worth USD2.3bn, which reiterates AIL’s dominance in global chemical space. Led by timely capex to capitalize on opportunities, we expect AIL’s earnings togrow by 21% CAGR over FY19-22E, despite near term weakness in agro chemicals and auto segment. Initiate with a BUY and PT of Rs 1,980, based on PER of 22x Sept21 EPS of Rs90.
Geojit Financial Services
16-Aug-19
Price @ Call: 1629.64
Target: 1572
REDUCE
Though we remain optimistic on ARTO’s long term growth story, potential slowdown in agrochemicals and weak economic scenario might impact its earning growth momentum in near term. At CMP, ARTO is trading at 1 Year FWD P/E of 26x, which is 23% premium to 3 year historical average of 21x. We value ARTO at 20x (23x earlier) and we downgrade to “Reduce” from BUY with target price of Rs1,572.
Axis Direct
21-Jun-19
Price @ Call: 1742.77
Target: 1826
HOLD
Aarti Industries Ltd. (AIL) is a leading Indian manufacturer of Chemical & Pharmaceutical intermediates with a global footprint. AIL is well positioned in the global market with marquee customer base, robust margins, strong balance sheet and diversified product portfolio. With the company expanding its product portfolio and its existing capacities and the shift in demand from China, it is expected to continue its steady growth. We expect the specialty chemicals and pharma segments to witness robust growth with pharma being the outperformer and estimate AIL to post revenues at a CAGR of 19% and PAT at 22% over FY19A-FY21E. We value AIL at 22x FY21E and recommend hold with a target price of Rs. 1826.
Geojit Financial Services
23-May-19
Price @ Call: 1690
Target: 1949
BUY
At CMP, ARTO is trading at 24x and 20x FY20E & FY21E EPS of Rs69.5 & Rs84.8 respectively. We remain optimistic on ARTO’s long term growth story given capacity additions, launch of new products, and robust off-take from Specialty and Pharma segment. The earnings outlook contin- ues to be robust at 26% CAGR over FY19E-21E. We value ARTO at 23x (21x earlier) and we upgrade to “Buy” from Hold with target price of Rs1,949.
Axis Direct
25-Feb-19
Price @ Call: 1407.95
Target: 1599
BUY
We expect revenues to increase at 23% CAGR over FY18-21E; earnings to grow at 27% CAGR to be driven by Growth in the specialty chemical (SC) sector, both globally & domestically, to aid demand for AIL’s products. Growth in the cash cow SC business from increasing utilization and expanding capacities. Higher utilization in the recently started Toluene derivative business (very few domestic manufacturers) as the demand for
these products, mostly fulfilled by imports, remains high. Three Multi year deals which provide a long term & sustainable visibility for future revenues & margin growth. Growth in the pharma business on account of revival in global pharma industry, better regulatory/compliance framework and AIL’s strong & in-depth R&D. We initiate coverage with BUY rating and a target price of Rs. 1599 i.e. ~22% upside (implies ~19x FY21E).
these products, mostly fulfilled by imports, remains high. Three Multi year deals which provide a long term & sustainable visibility for future revenues & margin growth. Growth in the pharma business on account of revival in global pharma industry, better regulatory/compliance framework and AIL’s strong & in-depth R&D. We initiate coverage with BUY rating and a target price of Rs. 1599 i.e. ~22% upside (implies ~19x FY21E).
Phillip Capital
21-Feb-19
Price @ Call: 1309.3
Target: 2000
BUY
ARTO’s stock price has already corrected 23 per cent over last 13 trading sessions despite healthy Q3 results (53 per cent yoy jump in earnings) possibly due to concern over softening product prices. We believe the large part of price softening is due to sharp crude correction recently and that would result in improved margin scenario consequently. Additionally, supported by the multiyear customized/exclusive supply agreements with global companies, supply disruption in China and timely capacity ..
Geojit Financial Services
6-Feb-19
Price @ Call: 1675.1
Target: 1787
HOLD
AARTIIND Share Price Target - Broker Reports - 2018
CD Equisearch
28-Nov-18
Price @ Call: 1491.4
Target: 1704
ACCUMULATE
AnandRathi
16-Nov-18
Price @ Call: 1432.79
Target: 1600
BUY
Geojit Financial Services
30-Oct-18
Price @ Call: 1258.33
Target: 1493
ACCUMULATE
Edelweiss
10-Oct-18
Price @ Call: 1232.95
Target: 1494
BUY
Edelweiss
27-Sep-18
Price @ Call: 1191.05
Target: 1494
BUY
AnandRathi
31-Aug-18
Price @ Call: 1382
Target: 1600
BUY
KRChoksey
8-Aug-18
Price @ Call: 1384.71
Target: 1443
ACCUMULATE
Geojit Financial Services
8-Aug-18
Price @ Call: 1330
Target: 1493
ACCUMULATE
Geojit Financial Services
30-May-18
Price @ Call: 1205
Target: 1396
BUY
Edelweiss
16-May-18
Price @ Call: 1310
Target: 1360
BUY
KRChoksey
21-Mar-18
Price @ Call: 1113.32
Target: 1455
BUY
Geojit Financial Services
1-Mar-18
Price @ Call: 1180
Target: 1311
ACCUMULATE
Edelweiss
6-Feb-18
Price @ Call: 1096.25
Target: 1360
BUY
AARTIIND Share Price Target - Broker Reports - 2017
CD Equisearch
15-Nov-17
Price @ Call: 891.6
Target: 1034
ACCUMULATE
Edelweiss
14-Nov-17
Price @ Call: 894
Target: 1033
BUY
Geojit Financial Services
21-Oct-17
Price @ Call: 894.22
Target: 1027
ACCUMULATE
AnandRathi
25-Sep-17
Price @ Call: 889.15
Target: 1084
BUY
BP Wealth
17-Aug-17
Price @ Call: 871.9
Target: 942
HOLD
Geojit Financial Services
17-Aug-17
Price @ Call: 871.9
Target: 970
BUY
Edelweiss
16-Jun-17
Price @ Call: 932
Target: 1000
BUY
Geojit Financial Services
29-May-17
Price @ Call: 830
Target: 921
ACCUMULATE
Edelweiss
22-May-17
Price @ Call: 859
Target: 890
BUY
CD Equisearch
29-Mar-17
Price @ Call: 763
Target: 900
BUY
Edelweiss
7-Feb-17
Price @ Call: 784
Target: 929
BUY
Geojit Financial Services
25-Jan-17
Price @ Call: 694
Target: 822
BUY
AARTIIND Share Price Target - Broker Reports - 2016
KRChoksey
6-Oct-16
Price @ Call: 677
Target: 835
BUY
Motilal Oswal
5-Jul-16
Price @ Call: 540.44
Target: 630
BUY
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AARTIIND Peer Stocks - Share Price Targets
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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