Aarti Drugs Management Guidance Tracker

Management aims for high single-digit value growth in H2 FY26, driven by export demand and new capacities.

Targeting 15% EBITDA margin on a consolidated basis by H2 FY27, driven by ramp-up of new plants and cost efficiencies.

Management targets EBITDA margin of 12-13% in the near term and 14-15% at steady state, driven by backward integration, export mix, and formulation ramp-up.

Targeting EBITDA margins between 13.5% and 14% for FY27, assuming stable crude prices; without war, target was 14-14.5%.

If salicylic acid ramp-up succeeds, management expects 15-20% revenue growth in FY27.

Management expects 12-15% volume growth in FY27, driven by new products (salicylic acid, methylamines) and single-digit growth in existing basket.

Sikar facility expected to ramp to 50% utilization in Q4 FY26 and 75% in the subsequent quarter, with full utilization within 12 months.

Management expects to cross 55-60% utilization in the June quarter, with a path to >70% within a year.

Management targets 8-10% volume growth, with internal aspirations of 10-15%, supported by new capacities.

Total capex for FY26 estimated at ₹150-200 crore, with similar levels expected in FY27 for further expansions.

Management guided for annual capex of ₹150-200 crore over the next two years, including oncology product development, brownfield expansions, and energy improvements.

Planned capex for brownfield expansions and formulation capacity, including oncology, over the next 2-3 years.