Aarti Surfactants Ltd(AARTISURF)

NSE: AARTISURFBSE: 543210

₹ 445-2.40%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 377 crWebsite: www.aarti-surfactants.com/Updated: 24 Oct 2026

About

Aarti Surfactants makes ionic, non-ionic and specialty surfactants and other ingredients for home and personal care, industrial and institutional uses. It was formed when Aarti Industries Limited demerged its home and personal care division. Revenue from operations was Rs 859.13 crores in FY26, up 30.4% from Rs 659.09 crores the year before. About 82% of FY26 sales were domestic.^[1][2]

Business segments

The company reports one segment, home and personal care ingredients, which made up all of the Rs 859.13 crores revenue from operations in FY26.^[1]
Sales by market in FY25: local sales of Rs 52,394.41 lakhs (Rs 43,240.18 lakhs in FY24), export sales of Rs 11,976.04 lakhs (Rs 14,476.44 lakhs) and deemed export sales of Rs 480.87 lakhs (Rs 844.92 lakhs).^[3]

Products

Makes high-performance ionic, non-ionic and specialty surfactants, as of FY26.^[1]
Product range in FY26: surfactants, mild surfactants, pearlizing agents, blends, preservatives and sun-care products.^[1]
The company's stated strategy is to grow in the high-margin skin care market, as of FY26.^[1][4]

Operations and raw materials

Has two manufacturing units, one in Madhya Pradesh and one in Silvassa, and an R&D centre in Navi Mumbai, as of FY26.^[1]
The Navi Mumbai R&D centre works on formulation optimisation, process improvements and green chemistry, including differentiated formulations for Home Care and Personal Care (FY26).^[1][4]
Fatty alcohol and fatty acids made up most raw material purchases in FY26. Late in the year, petrochemical feedstocks faced sharper cost pressure from supply disruptions and high crude oil prices.^[1]
The company had more than 350 employees as of March 31, 2026.^[1]

Customers and exports

Two large customers made up Rs 607.27 crores (71%) of product sales in FY26. In FY25 they made up Rs 46,041.78 lakhs of Rs 64,851.32 lakhs in sales.^[1][3]
International sales were 18% of sales in FY26, compared with 19% as of March 2025.^[1][3]
Exports go to more than 30 countries across Asia, Europe, Africa and the Americas, as of FY25.^[5][1]
Customers span home and personal care, industrial and institutional applications (FY26).^[1]

Expansion and capex

Capital work-in-progress stood at Rs 3,961.73 lakhs as at March 2026. Intangible assets under development, linked to the R&D centre, were Rs 417.61 lakhs.^[1]
Capacity expansion and debottlenecking are planned at the Pithampur (MP) and Silvassa plants, according to the FY25 annual report.^[3]
For 2026, management said its priority is consolidating existing operations, with a focus on operational efficiency and financial discipline.^[4]

Recent developments

In September 2026, the long-term bank facilities rating was revised to CRISIL A-/Stable from CARE BBB+/Stable.^[4]
On 25 Sep 2026, the company disclosed a customs order from the Commissioner of Customs at JNCH Nhava Sheva. It covers confiscation of goods, a fine, a penalty and differential duty totalling Rs. 1,53,97,404/-, plus a Rs. 10,00,000/- penalty on CEO Nikhil Desai.^[6]
The company said it is evaluating the customs order and intends to appeal before CESTAT (Sep 2026).^[6]

Market Cap

₹377 Cr

High / Low

₹680 / 318

Stock P/E

22.1

Price / Book

1.7

Book Value

₹289

EPS

₹14.6

No. of Shares

0.85 Cr

ROCE

8.6%

ROE

5.2%

OPM

3.4%

Debt / Equity

0.42

Sales

₹859 Cr

Net Profit

₹12 Cr

Promoter holding

49.8%

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