Aarey Drugs & Pharmaceuticals Limited (AAREYDRUGS)

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Aarey Drugs & Pharmaceuticals Limited (AAREYDRUGS) · mywealthgrid

About

Aarey Drugs & Pharmaceuticals Limited operates in the pharmaceutical sector within healthcare, with a market capitalization of ₹243 Cr. Over the past year, quarterly revenue has averaged around ₹100 Cr but shows significant volatility, ranging from ₹45 Cr to ₹189 Cr, while trailing operating margins stand at a thin 1.52% with occasional quarters in negative territory.

Face value: ₹10

Market cap

₹295 Cr

P/E

70.7×

P/B

2.0×

Dividend yield

ROE

2.7%

ROCE

7.1%

Debt / equity

0.33

OPM

1.5%

EPS (TTM)

₹1.5

Book value

₹52.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation disconnect: PE of 53.77 applied to weak profitability (OPM 1.52%, ROE 2.75%) raises sustainability questions
Revenue and margin volatility: Quarterly revenue swings from ₹45 Cr to ₹189 Cr; four of eight quarters show sub-1% OPM with two in negative territory (Dec 2025: -1.56%, Mar 2025: -4.49%); verify structural vs. cyclical drivers
Pharma sector headwinds: Price regulation, generic competition, and compliance risks typical to Indian pharma — verify company's positioning in high-regulation therapeutic areas

Generated analysis · source review pending

Growth drivers

Revenue recovery: Jun 2026's ₹44.63 Cr is the 8-quarter low; return toward ₹100–130 Cr (Sep–Dec 2024 levels) would expand profits
Margin restoration: Sep 2024 (3.54%) and Sep 2025 (3.14%) show company can sustain 3%+ OPM; recovery to these levels would lift EPS
Clarify operational drivers of revenue volatility (₹45–189 Cr swings) and verify whether this reflects predictable order patterns or structural inconsistency

Generated analysis · source review pending

2,245 historical price candles were omitted because the exchange source has not been verified.

₹103.9+3.9%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of 3.2% (3-yr avg)
−Thin operating margin of 1.5%
−Profit declined 8.9% a year over the last 5 years
−Modest revenue growth of 7.2% a year over the last 5 years
−Expensive at 70.7× trailing earnings
−Promoter holding fell 7.1 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

31/100

Business quality: 20
Growth: 50
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	246	396	349	355	300	333	493	62	396	474	472
COGS	—	—	-337	-341	-290	-322	467	59	382	462	455
Gross profit	—	—	—	—	—	—	25	4	14	12	18
	—	—	679	688	587	650	14	2	9	10	11
	—	—	7	8	3	5	11	2	4	2	7
OPM %	—	—	2.1%	2.2%	1.1%	1.4%	2.3%	2.5%	1.1%	0.5%	1.5%
Depreciation	—	—	—	—	1	1	2	1	2	2	3
Interest	—	—	2	2	2	2	2	1	4	4	5
	3	3	3	4	7	7	3	0	7	10	6
Profit before tax	2	8	8	9	7	8	10	1	5	6	5
Tax	—	—	—	—	—	—	3	0	1	2	1
Tax %	—	—	—	—	—	—	24.9%	33.3%	12.4%	34.1%	26.8%
	1	6	6	7	6	6	8	0	5	4	4
PAT margin %	0.5%	1.5%	1.8%	1.8%	1.9%	1.9%	1.5%	0.8%	1.2%	0.9%	0.8%
EPS (₹)	—	—	3.1	2.8	2.5	2.7	2.7	0.2	1.8	3.3	1.4
EPS adjusted (₹)	—	—	—	—	—	—	3	0.2	1.7	1.4	1.4
	—	—	0%	3.6%	0%	0%	0%	0%	0%	0%	—
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	25	25	28	28	28
Reserves	88	92	105	110	122
Minority interest	0	—	—	—	—
	14	38	31	35	50
	117	136	141	65	97
Total equity & liabilities	245	291	305	238	297
	14	14	15	16	26
CWIP	—	0	—	0	0
Investments	0	0	1	2	2
	230	277	289	220	269
Total assets	245	291	305	238	297

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	19	-39	8	10	10
	24	11	-7	-6	-12
	4	-23	4	-4	2
Net cash flow	47	-50	5	-0	-0
Free cash flow	16	-40	8	10	-2
CFO / Operating profit %	165%	—	176.9%	428.9%	141.4%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	5.2%	6.1%	3.5%	2.5%	3.8%
EBITDA margin %	2.2%	1.1%	1.4%	2.3%	2.5%	1.1%	0.5%	1.5%
EBIT margin %	2.2%	0.8%	1.1%	1.9%	1.3%	0.7%	0.1%	0.9%
PAT margin %	1.8%	1.9%	1.9%	1.5%	0.8%	1.2%	0.9%	0.8%
Working capital
Receivable days	—	—	—	101	1,109	0	100	100
Inventory days	—	—	—	11	179	33	36	33
Payable days	—	—	—	86	793	123	43	66
NWC days	—	—	—	26	496	-90	93	68
Leverage
Current ratio	—	—	—	1.73	1.61	0.58	2.2	1.81
Debt to EBITDA	—	—	—	1.26	24.65	7.03	15.49	6.97
Debt to equity	—	—	—	0.12	0.32	0.24	0.25	0.33
Interest coverage	5.4	5.1	4.4	6	2.4	2.2	2.5	2.1
Asset turnover	—	—	—	2.01	0.21	1.3	1.99	1.59
Return ratios
Return on assets %	—	—	—	3.1%	0.2%	1.5%	1.7%	1.3%
Return on capital employed %	—	—	—	10.2%	1.1%	7.5%	7.3%	7.1%
Return on equity %	—	—	—	6.6%	0.4%	3.5%	2.9%	2.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50.04%	50.04%	45.28%	45.28%	45.44%	44.8%	44.8%	44.8%	44.8%	39.06%	37.71%	37.71%
	3.94%	3.83%	3.4%	3.4%	2.75%	2.34%	2.34%	1.97%	1.13%	3.86%	4.18%	4.8%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	1.62%	1.62%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	46.02%	46.13%	51.32%	51.32%	51.81%	52.86%	52.86%	53.23%	54.07%	57.08%	56.49%	55.87%
No. of shareholders	—	—	—	—	—	—	—	—	14,897	14,063	14,188	13,478

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Aarey Drugs & Pharmaceuticals Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Interim dividend13 Dec 2018 · ex-date₹0.1

1

Board meeting to consider results14 Aug 2026

1

Bonus 1:525 Jun 2012 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

14 announcementsExport CSV

30 Sept 2026, 6:24 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

30 Sept 2026, 3:06 pmCompany Update

Revised Outcome Of Board Meeting Dated 06-08-2026 Approved In Board Meeting 30-09-2026

General PDF

30 Sept 2026, 2:54 pmOthers

Board Meeting Outcome for OUTCOME OF BOARD MEETING HELD ON 30-09-2026

Outcome without intimation PDF

11 Sept 2026, 7:32 pmCompany Update

Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements)Regulations, 2015

General PDF

9 Sept 2026, 6:30 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

8 Sept 2026, 8:41 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

8 Sept 2026, 8:31 pmAGM/EGM

Notice Of 36Th Annual General Meeting Of The Company For FY 2025-26

AGM PDF

8 Sept 2026, 8:18 pmCorp. Action

Intimation Of Book Closure

Book Closure PDF

Date	Category	Subject	Filing
30 Sept 2026, 6:24 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
30 Sept 2026, 3:06 pm	Company Update General	Revised Outcome Of Board Meeting Dated 06-08-2026 Approved In Board Meeting 30-09-2026	PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	5.2%	6.1%	3.5%	2.5%	3.8%
EBITDA margin %	2.2%	1.1%	1.4%	2.3%	2.5%	1.1%	0.5%	1.5%
EBIT margin %	2.2%	0.8%	1.1%	1.9%	1.3%	0.7%	0.1%	0.9%
PAT margin %	1.8%	1.9%	1.9%	1.5%	0.8%	1.2%	0.9%	0.8%
Working capital
Receivable days	—	—	—	101	1,109	0	100	100
Inventory days	—	—	—	11	179	33	36	33
Payable days	—	—	—	86	793	123	43	66
NWC days	—	—	—	26	496	-90	93	68
Leverage
Current ratio	—	—	—	1.73	1.61	0.58	2.2	1.81
Debt to EBITDA	—	—	—	1.26	24.65	7.03	15.49	6.97
Debt to equity	—	—	—	0.12	0.32	0.24	0.25	0.33
Interest coverage	5.4	5.1	4.4	6	2.4	2.2	2.5	2.1
Asset turnover	—	—	—	2.01	0.21	1.3	1.99	1.59
Return ratios
Return on assets %	—	—	—	3.1%	0.2%	1.5%	1.7%	1.3%
Return on capital employed %	—	—	—	10.2%	1.1%	7.5%	7.3%	7.1%
Return on equity %	—	—	—	6.6%	0.4%	3.5%	2.9%	2.6%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Torrent Pharmaceuticals LimitedTORNTPHARMTORNTPHARM	₹1,61,325 Cr	₹1,76,123 Cr	₹15,723 Cr	₹5,191 Cr	32.6%	₹2,181 Cr	15.3%	14.5%	27.1%	163
Zydus Lifesciences LimitedZYDUSLIFEZYDUSLIFE	₹1,14,284 Cr	₹1,26,053 Cr	₹28,592 Cr	₹8,316 Cr	31.2%	₹4,513 Cr	18.9%	23.4%	19.7%	212
Laurus Labs LimitedLAURUSLABSLAURUSLABS	₹1,07,176 Cr	₹1,09,573 Cr	₹7,270 Cr	₹2,034 Cr	26.1%	₹1,093 Cr	13.1%	21.3%	18.2%	263
Mankind Pharma LimitedMANKINDMANKIND	₹1,04,696 Cr	₹1,11,007 Cr	₹14,738 Cr	₹3,827 Cr	25.3%	₹2,068 Cr	13.6%	14.2%	12.5%	117
Aurobindo Pharma LimitedAUROPHARMAAUROPHARMA	₹97,389 Cr	₹1,05,065 Cr	₹34,935 Cr	₹7,085 Cr	20.3%	₹3,713 Cr	10.4%	14.7%	9.9%	252
Lupin LimitedLUPINLUPIN	₹92,866 Cr	₹98,777 Cr	₹29,967 Cr	₹9,538 Cr	31.5%	₹5,529 Cr	19.2%	34.2%	26.9%	181
Glenmark Pharmaceuticals LimitedGLENMARKGLENMARK	₹65,781 Cr	₹65,781 Cr	₹17,737 Cr	₹4,797 Cr	26.9%	₹1,496 Cr	8%	37.8%	0%	83
Alkem Laboratories LimitedALKEMALKEM	₹62,431 Cr	₹64,055 Cr	₹15,081 Cr	₹3,032 Cr	20.4%	₹2,158 Cr	16%	21.5%	17.8%	152
Biocon LimitedBIOCONBIOCON	₹60,413 Cr	₹75,238 Cr	₹17,321 Cr	₹3,536 Cr	20.4%	₹495 Cr	2.2%	3.9%	1.4%	85
Abbott India LimitedABBOTINDIAABBOTINDIA	₹56,901 Cr	—	₹4,310 Cr	₹921 Cr	27.3%	₹691 Cr	22.4%	44.1%	34.5%	110
Ipca Laboratories LimitedIPCALABIPCALAB	₹49,299 Cr	₹50,003 Cr	₹10,126 Cr	₹2,232 Cr	20.5%	₹1,310 Cr	12.3%	17.8%	15.2%	308
Gland Pharma LimitedGLANDGLAND	₹47,428 Cr	₹47,671 Cr	₹6,725 Cr	₹1,751 Cr	25.3%	₹1,129 Cr	16%	14.8%	10.5%	255

36 deals · 5 Jan 2022 – 30 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Sept 2026	ARYA RAVI MANIRAM	Bulk	NSE	Buy	1,44,423	₹100.01	₹1.44 Cr
28 Aug 2026	VAYUMIND INNOVATIONS PRIVATE LIMITED	Bulk	NSE	Buy	2,74,415	₹88.97	₹2.44 Cr
26 Aug 2026	VAYUMIND INNOVATIONS PRIVATE LIMITED	Bulk	NSE	Buy	1,54,471	₹80.45	₹1.24 Cr
17 Apr 2026	SHAH SANJAY JAYKANT	Bulk	NSE	Buy	1,50,000	₹81.51	₹1.22 Cr
17 Feb 2026	INARAA FINANCIAL SERVICES PRIVATE LIMITED	Bulk	NSE	Sell	1,43,000	₹66.95	₹0.96 Cr
12 Feb 2026	NISHITH ATULBHAI SHAH	Bulk	NSE	Sell	2,58,145	₹70.54	₹1.82 Cr
12 Feb 2026	SHREE SALASAR PROPERTIES & FIN.(P)LTD.	Bulk	NSE	Buy	2,50,000	₹70.33	₹1.76 Cr
12 Feb 2026	NISHITH ATULBHAI SHAH	Bulk	NSE	Buy	87,127	₹68.95	₹0.60 Cr
11 Feb 2026	NISHITH ATULBHAI SHAH	Bulk	NSE	Sell	5,34,393	₹67.05	₹3.58 Cr
11 Feb 2026	SHREE SALASAR PROPERTIES & FIN.(P)LTD.	Bulk	NSE	Buy	2,50,000	₹68.00	₹1.70 Cr

1–10 of 36

1 / 4

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Aarey Drugs & Pharmaceuticals Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

1

1

1

Announcements

Not in the F&O segment

1

1

1

No fund holdings on record

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Return on equity

Aarey Drugs & Pharmaceuticals Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends1

Board meetings1

Bonus issues1

Announcements

Ratio timeline

Not in the F&O segment

Dividends1

Board meetings1

Bonus issues1

No fund holdings on record

Announcements

Quarterly record

Annual reports

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1

1

1

1

1