AARTIDRUGS / Q4-FY26 / claim-ledger

Audit the questions that mattered.

Aarti Drugs · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ4-FY26 · 2026-04-30Back to quarter ↗

Questions audited

Answered directly

75%

Numeric claims

Consistency

mixed

Question ledger

What was answered, and how?

Shashank Coyle · Yumara Capital

direct

How is the methylamine plant ramping up and utilization levels?

December quarter utilization around 29%, March quarter upwards of 40%. Expect June quarter 55-60% and within a year upwards of 70%.

Shashank Coyle · Yumara Capital

partial

What was salicylic acid profitability and margin outlook?

Salicylic acid still a laggard; we shut production due to variable losses. Will restart once equipment is operational and variable costs are in check.

Duanil Desai · Turtle Capital

partial

Expect 10-12% volume growth and 4-5% positive rate variance?

We will strive for volume growth of 8-10%. Realizations will be positive; longer the war, more positive variance.

Duanil Desai · Turtle Capital

direct

Why only 8-10% volume growth despite new capacities?

Internal target is 10-15% growth. Challenge is high antibiotic prices may reduce domestic demand, similar to Russia-Ukraine war period.

Duanil Desai · Turtle Capital

partial

Gross margin outlook for coming year?

We don't expect much movement in gross margins. Q4 was fairly good; we would like to maintain that. Manufacturing costs can be reduced by a percent or so.

Duanil Desai · Turtle Capital

direct

What is driving formulation growth and is run rate sustainable?

Growth from direct exports in non-oncology portfolio due to approvals in regulated markets. Expecting good number of approvals and market extensions to keep increasing export business.

JJ · JJ Capital

direct

Key geographies for regulated market improvement and niche products?

Mainly Latin American markets. European and US markets are target but haven't seen uptick yet. Expect flow from USFDA plant within a year.

JJ · JJ Capital

direct

Status and timeline for key USFDA approvals for APIs?

Got USFDA plant approval last year. Actively marketing antibiotic, anti-inflammatory products; flows will start within 12-18 months.

Sajal Kapoor · Antifality

partial

Challenges in methylamine ramp-up: external vs internal?

Methylamine scale-up going well. Minor internal issues at drying of one derivative but not worried. Utilization already around 60% in first half of Q1.

Sajal Kapoor · Antifality

direct

How much of metformin value chain does Aarti control?

For indigenous intermediate, we are the only ones with backward integration facility. Filed DMF with US for metformin; next stage is FDA inspection.

Sajal Kapoor · Antifality

direct

Can we expect 100-200 bps EBITDA margin improvement in FY27?

Yes, we can expect that in terms of gross contribution, at least 100 basis point we can definitely target.

Rishab Jen · Modi Capital

evasive

Which API products saw price hikes and sustainability?

Prices are not stable. We don't expect further increase unless crude goes beyond $130-140 per barrel.