Aarti Industries drops on poor Q4 result

Aarti Industries slipped 1.71% to Rs 1,011.25 after consolidated net profit fell 11.90% to Rs 110.35 crore on a 5.69% decline in net sales to Rs 1076.15 crore in Q4 March 2020 over Q4 March 2019.

The result was announced on 25 May 2020 when stock markets were shut on account of Id-Ul-Fitr (Ramzan Id).

Consolidated revenue of specialty chemicals segment was marginally lower, by 0.44%, as it stood at Rs 983.54 crore while the earnings of the pharmaceuticals segment contracted by 3.01% to Rs 206.36 in the fourth quarter as compared to the corresponding period last year.

In a separate announcement made on 25 May 2020, Aarti Industries announced early redemption of 11.75% interest bearing non-convertible debentures (NCDs) worth Rs 40 crore that were issued and allotted on a private placement basis, which were slated for maturity on 15 June 2021.

Aarti Industries is a manufacturer of specialty chemicals and pharmaceuticals. The company operates through three segments: speciality chemicals, pharmaceuticals, and home & personal care chemicals.

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