India's Richest People 2026 edition · 1 director · Source: Hurun India
- #621 Chandrakant Vallabhaji Gogri ₹5,300 Cr
Market Cap
₹388 Cr
AARTISURF · NSE
Share Price
₹460.45
+0.50% today
Revenue
₹859 Cr
FY 2025-26 · +30.4% YoY
EBITDA
₹46.88 Cr
Margin 5.5%
Net Profit
₹12.30 Cr
FY 2025-26 · +35.2% YoY
P/E (TTM)
20.7x
P/B 1.6x
ROE
5.2%
ROCE 8.3%
Debt / Equity
0.32
Interest cover 42.2x
About Aarti Surfactants Limited
Data last updated:
Aarti Surfactants Limited is a public limited company based in Dhar, Madhya Pradesh, India. It operates in the surfactants and detergents segment of the chemicals and materials sector. It was incorporated on 18 June 2018 and has been in existence for over 8 years.
Its director Chandrakant Vallabhaji Gogri is #621 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Gwalior, under CIN L24100MP2018PLC067037. Its GSTIN is 23AARCA0340H1Z0 (Madhya Pradesh). The company holds 5 GST registrations, of which 4 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 543210 and NSE: AARTISURF.
The company has an authorised share capital of ₹40 Cr and a paid-up capital of ₹9.55 Cr. It was formerly known as Arti Surfactants Limited. It is led by directors including Nikhil Parimal Desai (Managing Director) and Santosh Kakade (Whole-Time Director).
Its last annual general meeting (AGM) was held on 23 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Dhar, Madhya Pradesh.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹859.13 Cr, a growth of 30.4% compared to the previous year. For the same year it recorded a net profit of ₹12.3 Cr (net margin 1.4%) and EBITDA of ₹46.88 Cr (EBITDA margin 5.5%). The net worth stands at ₹267.97 Cr (up 5.1% YoY). Total assets are valued at ₹360.55 Cr (up 2% YoY).
The company has about 312 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: Aarti Surfactants. As per MCA filings, the company has open charges of ₹423.79 Cr and satisfied charges of ₹9 Lakh on record. Court records list 4 cases involving the company, including 3 filed by the company and 1 filed against it; 2 cases are pending. The company has 28 deals on record (26 market trades, 1 funding round, 1 secondary share transfer), with disclosed funding of ₹49.6 Cr; the latest was in September 2024. Its 10 peer companies in the Chemicals industry (Surfactants), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 5 larger and 5 smaller; the largest is Sai Sulphonates Pvt Ltd with revenue of ₹1,452.87 Cr. The company has 6 MSME Form 1 returns on record between 2022 and 2024, listing 30 overdue payments to 14 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website aarti-surfactants.com.
Company details
CIN L24100MP2018PLC067037
Registration Number 067037
Incorporation Date 18 June 2018
ROC Gwalior
Listing Status Listed - Listed on NSE (AARTISURF); Listed on BSE (543210)
Company Status Active
Date of Last AGM 23 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
CIN history
Aarti Surfactants has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L24100MP2018PLC067037, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L24100MP2018PLC067037 | Current |
| L24100GJ2018PLC102891 | Previous |
| U24100GJ2018PLC102891 | Previous |
Key People
Nikhil Parimal Desai Managing Director Santosh Kakade Whole-Time Director Chandrakant Vallabhaji Gogri Director Recognitions & Rankings of Aarti Surfactants
Contact details
Aarti Surfactants Limited's registered office is in Dhar, Madhya Pradesh. Its website is aarti-surfactants.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressPlot No 57 58 60 To 64 62A S – 3/1 Sector – 3, Sagore Village Pithampur Industrial Area, Dhar, Madhya Pradesh, India – 454775
- IndustryChemicals and Materials, Surfactants & Detergents
To see the full contact details of Aarti Surfactants Limited, buy the company report.
Comprehensive company report
Aarti Surfactants Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Aarti Surfactants operates one associated brand: Aarti Surfactants. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Ionic and non-ionic surfactants are manufactured for various applications. | aarti-surfactants.com |
Business activity
The main business activity of Aarti Surfactants is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Aarti Surfactants Limited, buy the company report.
Financials of Aarti Surfactants Limited
FY 2025-26 filings availableAarti Surfactants Limited reported revenue of ₹859.13 Cr (up 30.4% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹859 Cr
+30.4% YoY
EBITDA
₹46.88 Cr
+11.8% YoY
Profit After Tax
₹12.30 Cr
+35.2% YoY
Net Worth
₹268 Cr
+5.1% YoY
Total Assets
₹361 Cr
+2.0% YoY
Total Debt
₹81.13 Cr
-7.9% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 859 | 659 | 590 | 601 | 576 | 466 | 326 |
| Revenue growth | +30.4% | +11.7% | -1.9% | +4.5% | +23.6% | +42.9% | - |
| EBITDA | 46.88 | 41.93 | 62.14 | 47.74 | 32.15 | 45.51 | 23.59 |
| EBITDA margin | +5.5% | +6.4% | +10.5% | +7.9% | +5.6% | +9.8% | +7.2% |
| Profit before tax | 17.21 | 20.71 | 32.20 | 17.79 | 9.32 | 22.92 | 2.94 |
| Net profit | 12.30 | 9.10 | 21.34 | 12.69 | 5.49 | 21.64 | 2.08 |
| Net profit margin | +1.4% | +1.4% | +3.6% | +2.1% | +1.0% | +4.7% | +0.6% |
| EPS (₹) | 14.57 | 17.18 | 25.19 | 16.00 | 7.24 | 28.52 | 2.75 |
| Balance sheet | |||||||
| Total assets | 361 | 353 | 325 | 323 | 297 | 285 | 220 |
| Net worth | 268 | 255 | 240 | 189 | 156 | 152 | 130 |
| Total debt | 81.13 | 88.07 | 77.61 | 128 | 141 | 133 | 90.27 |
| Cash & bank | 13.43 | 1.21 | 6.31 | 7.69 | 1.43 | 6.73 | 0.10 |
| Net working capital | 126 | 148 | 120 | 116 | 82.09 | 82.37 | 59.60 |
| Cash flow | |||||||
| Cash from operations | 76.64 | 11.18 | 51.96 | 24.52 | 23.32 | 35.51 | 18.11 |
| Cash from investing | (45.65) | (16.21) | (16.22) | (10.65) | (22.54) | (60.47) | (2.15) |
| Cash from financing | (19.49) | (0.37) | (37.11) | (7.67) | (6.08) | 31.59 | (15.88) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 273 | 256 | 208 | 179 | 216 | 202 | 163 | 151 |
| Revenue growth (YoY) | +26.4% | +26.8% | +27.7% | +18.8% | +50.6% | - | - | - |
| Other income | 0.17 | 0.19 | 0.04 | 0.06 | 0.04 | 1.14 | (0.16) | 6.21 |
| EBITDA | 20.29 | 13.22 | 12.70 | 9.35 | 11.63 | 19.69 | 8.89 | 3.72 |
| EBITDA margin | +7.4% | +5.2% | +6.1% | +5.2% | +5.4% | +9.7% | +5.5% | +2.5% |
| Depreciation | 4.75 | 4.46 | 4.47 | 4.41 | 4.35 | 4.41 | 4.40 | 4.31 |
| Interest | 3.52 | 3.06 | 3.16 | 2.80 | 3.28 | 3.26 | 3.12 | 2.60 |
| Profit before tax | 12.19 | 5.89 | 5.11 | 2.20 | 4.04 | 13.16 | 1.21 | 3.02 |
| Tax | 3.19 | 1.69 | 1.44 | 0.64 | 1.10 | 3.45 | 0.41 | 1.21 |
| Net profit | 9.00 | 4.20 | 3.67 | 1.56 | 2.94 | 9.71 | 0.80 | 1.81 |
| EPS (₹) | 10.62 | 4.94 | 4.32 | 1.84 | 3.47 | 11.49 | 0.95 | 2.13 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 859 | 659 | 590 | 601 | 576 | 466 | 326 |
| Revenue growth | +30.4% | +11.7% | -1.9% | +4.5% | +23.6% | +42.9% | - |
| EBITDA | 46.99 | 42.14 | 63.02 | 47.75 | 32.16 | 45.52 | 23.59 |
| EBITDA margin | +5.5% | +6.4% | +10.7% | +7.9% | +5.6% | +9.8% | +7.2% |
| Profit before tax | 17.55 | 21.15 | 33.14 | 17.80 | 9.33 | 22.93 | 2.94 |
| Net profit | 12.64 | 9.56 | 22.28 | 12.70 | 5.50 | 21.65 | 2.08 |
| Net profit margin | +1.5% | +1.5% | +3.8% | +2.1% | +1.0% | +4.7% | +0.6% |
| EPS (₹) | 14.96 | 17.71 | 26.30 | 16.01 | 7.25 | 28.53 | 2.76 |
| Balance sheet | |||||||
| Total assets | 362 | 355 | 326 | 323 | 297 | 285 | 220 |
| Net worth | 270 | 257 | 241 | 189 | 156 | 152 | 130 |
| Total debt | 81.13 | 88.07 | 77.61 | 128 | 141 | 133 | 90.27 |
| Cash & bank | 13.29 | 1.07 | 6.22 | 7.68 | 1.41 | 6.73 | 0.09 |
| Net working capital | 125 | 148 | 120 | 116 | 86.65 | 82.38 | 59.59 |
| Cash flow | |||||||
| Cash from operations | 76.78 | 11.35 | 52.00 | 24.32 | 23.36 | 35.51 | 18.10 |
| Cash from investing | (45.80) | (16.41) | (16.46) | (10.51) | (22.60) | (60.47) | (2.15) |
| Cash from financing | (19.49) | (0.37) | (37.01) | (7.60) | (6.08) | 31.59 | (15.88) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 273 | 256 | 208 | 179 | 216 | 202 | 163 | 151 |
| Revenue growth (YoY) | +26.4% | +26.8% | +27.7% | +18.8% | +50.6% | - | - | - |
| Other income | 0.17 | 0.19 | 0.04 | 0.06 | 0.04 | 1.14 | (0.16) | 6.21 |
| Total expenses | 253 | 243 | 195 | 170 | 204 | 182 | 154 | 147 |
| EBITDA | 20.31 | 13.24 | 12.71 | 9.36 | 11.69 | 19.75 | 8.94 | 3.77 |
| EBITDA margin | +7.4% | +5.2% | +6.1% | +5.2% | +5.4% | +9.8% | +5.5% | +2.5% |
| Depreciation | 4.69 | 4.40 | 4.42 | 4.35 | 4.29 | 4.35 | 4.34 | 4.26 |
| Interest | 3.52 | 3.06 | 3.16 | 2.80 | 3.28 | 3.26 | 3.12 | 2.60 |
| Profit before tax | 12.27 | 5.97 | 5.17 | 2.27 | 4.16 | 13.28 | 1.32 | 3.12 |
| Tax | 3.19 | 1.69 | 1.44 | 0.64 | 1.10 | 3.45 | 0.41 | 1.21 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 31 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 273 | 256 | 208 | 179 | 216 | 202 | 163 | 151 |
| Revenue growth (YoY) | +26.4% | +26.8% | +27.7% | +18.8% | +50.6% | - | - | - |
| Other income | 0.17 | 0.19 | 0.04 | 0.06 | 0.04 | 1.14 | (0.16) | 6.21 |
| EBITDA | 20.29 | 13.22 | 12.70 | 9.35 | 11.63 | 19.69 | 8.89 | 3.72 |
| EBITDA margin | +7.4% | +5.2% | +6.1% | +5.2% | +5.4% | +9.7% | +5.5% | +2.5% |
| Depreciation | 4.75 | 4.46 | 4.47 | 4.41 | 4.35 | 4.41 | 4.40 | 4.31 |
| Interest | 3.52 | 3.06 | 3.16 | 2.80 | 3.28 | 3.26 | 3.12 | 2.60 |
| Profit before tax | 12.19 | 5.89 | 5.11 | 2.20 | 4.04 | 13.16 | 1.21 | 3.02 |
| Tax | 3.19 | 1.69 | 1.44 | 0.64 | 1.10 | 3.45 | 0.41 | 1.21 |
| Net profit | 9.00 | 4.20 | 3.67 | 1.56 | 2.94 | 9.71 | 0.80 | 1.81 |
| EPS (₹) | 10.62 | 4.94 | 4.32 | 1.84 | 3.47 | 11.49 | 0.95 | 2.13 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 859 | 659 | 590 | 601 | 576 | 466 | 326 |
| Revenue growth | +30.4% | +11.7% | -1.9% | +4.5% | +23.6% | +42.9% | - |
| Other income | 0.33 | 7.68 | 0.13 | 0.33 | 0.29 | 0.06 | 0.21 |
| Total expenses | 812 | 617 | 528 | 554 | 543 | 420 | 302 |
| Employee cost | 23.57 | 20.13 | 17.89 | 16.84 | 17.99 | 15.70 | 14.30 |
| EBITDA | 46.88 | 41.93 | 62.14 | 47.74 | 32.15 | 45.51 | 23.59 |
| EBITDA margin | +5.5% | +6.4% | +10.5% | +7.9% | +5.6% | +9.8% | +7.2% |
| Depreciation | 17.69 | 17.35 | 16.04 | 15.49 | 12.45 | 12.21 | 10.58 |
| Interest | 12.31 | 11.55 | 14.03 | 14.79 | 10.67 | 10.44 | 10.28 |
| Profit before tax | 17.21 | 20.71 | 32.20 | 17.79 | 9.32 | 22.92 | 2.94 |
| Tax | 4.88 | 6.16 | 10.86 | 5.10 | 3.83 | 1.28 | 0.86 |
| Net profit | 12.30 | 9.10 | 21.34 | 12.69 | 5.49 | 21.64 | 2.08 |
| Net profit margin | +1.4% | +1.4% | +3.6% | +2.1% | +1.0% | +4.7% | +0.6% |
| EPS (₹) | 14.57 | 17.18 | 25.19 | 16.00 | 7.24 | 28.52 | 2.75 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 31.52 | 30.79 | 30.06 | 28.81 | 27.73 | 27.00 | 26.28 |
| Reserves & surplus | 236 | 224 | 210 | 160 | 128 | 125 | 103 |
| Shareholders' funds (net worth) | 268 | 255 | 240 | 189 | 156 | 152 | 130 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 79.85 | 86.41 | 75.63 | 128 | 141 | 133 | 90.27 |
| Unsecured loans | 1.28 | 1.66 | 1.98 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total debt | 81.13 | 88.07 | 77.61 | 128 | 141 | 133 | 90.27 |
| Total liabilities | 361 | 353 | 325 | 323 | 297 | 285 | 220 |
| Assets | |||||||
| Gross block | 340 | 326 | 314 | 298 | 248 | 268 | 221 |
| Net block | 200 | 204 | 208 | 207 | 173 | 187 | 151 |
| Capital work in progress | 45.21 | 14.65 | 7.64 | 7.90 | 52.06 | 19.74 | 13.95 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 119 | 134 | 99.21 | 77.33 | 74.82 | 73.19 | 56.49 |
| Sundry debtors | 105 | 76.26 | 70.11 | 65.36 | 54.47 | 54.43 | 17.92 |
| Cash & bank balances | 13.43 | 1.21 | 6.31 | 7.69 | 1.43 | 6.73 | 0.10 |
| Loans & advances | 24.93 | 40.04 | 23.87 | 31.98 | 44.28 | 41.03 | 19.85 |
| Total current assets | 262 | 252 | 200 | 182 | 175 | 175 | 94.36 |
| Total current liabilities | 136 | 104 | 79.60 | 66.26 | 92.91 | 93.01 | 34.76 |
| Net working capital | 126 | 148 | 120 | 116 | 82.09 | 82.37 | 59.60 |
| Total assets | 361 | 353 | 325 | 323 | 297 | 285 | 220 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.86 | 6.25 | 7.62 | 1.43 | 6.73 | 0.10 | 0.02 |
| Net cash from operating activities | 76.64 | 11.18 | 51.96 | 24.52 | 23.32 | 35.51 | 18.11 |
| Net cash from investing activities | (45.65) | (16.21) | (16.22) | (10.65) | (22.54) | (60.47) | (2.15) |
| Net cash from financing activities | (19.49) | (0.37) | (37.11) | (7.67) | (6.08) | 31.59 | (15.88) |
| Net change in cash | 11.50 | (5.39) | (1.37) | 6.19 | (5.30) | 6.63 | 0.08 |
| Closing cash | 13.43 | 1.21 | 6.31 | 7.69 | 1.43 | 6.73 | 0.10 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +30.4% | +11.7% | -1.9% | +4.5% | +23.6% | +42.9% | - |
| EBITDA growth | +11.8% | -32.5% | +30.2% | +48.5% | -29.4% | +92.9% | - |
| PBT growth | -16.9% | -35.7% | +81.0% | +90.9% | -59.3% | +679.6% | +9997.0% |
| Net income growth | +35.2% | -57.4% | +68.2% | +131.2% | -74.6% | +940.4% | - |
| Revenue CAGR (3Y) | +12.6% | +4.6% | +8.2% | +22.7% | - | - | - |
| EBITDA CAGR (3Y) | -0.6% | +9.3% | +10.9% | +26.5% | - | - | - |
| Profitability & leverage | |||||||
| Net income margin | +1.4% | +2.2% | +3.6% | +2.1% | +1.0% | +4.7% | +0.6% |
| Return on capital employed | +8.3% | +8.3% | +14.3% | +10.5% | +6.9% | +13.2% | +6.0% |
| Return on net worth | +5.2% | +4.0% | +11.1% | +8.4% | +4.1% | +17.8% | +1.9% |
| Debt / equity | 0.32 | 0.33 | 0.48 | 0.78 | 0.89 | 0.79 | 0.70 |
| Long-term debt / equity | 0.05 | 0.07 | 0.19 | 0.40 | 0.47 | 0.32 | 0.23 |
| Interest cover | 42.17 | 46.99 | 30.43 | 45.86 | 54.16 | 31.35 | 79.02 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.58 | 2.06 | 1.93 | 2.20 | 2.23 | 1.91 | 1.48 |
| Inventory turnover | 6.79 | 5.64 | 6.68 | 7.90 | 7.78 | 7.18 | 5.77 |
| Debtors turnover | 9.50 | 9.01 | 8.71 | 10.04 | 10.57 | 12.88 | 18.18 |
| EPS (₹) | 14.57 | 17.18 | 25.19 | 16.00 | 7.24 | 28.52 | 2.75 |
| Dividend per share (₹) | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 | 3.00 | 0.00 |
| Book value per share (₹) | 289.09 | 274.78 | 257.64 | 211.58 | 179.20 | 174.90 | 146.28 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 273 | 256 | 208 | 179 | 216 | 202 | 163 | 151 |
| Revenue growth (YoY) | +26.4% | +26.8% | +27.7% | +18.8% | +50.6% | - | - | - |
| Other income | 0.17 | 0.19 | 0.04 | 0.06 | 0.04 | 1.14 | (0.16) | 6.21 |
| Total expenses | 253 | 243 | 195 | 170 | 204 | 182 | 154 | 147 |
| EBITDA | 20.31 | 13.24 | 12.71 | 9.36 | 11.69 | 19.75 | 8.94 | 3.77 |
| EBITDA margin | +7.4% | +5.2% | +6.1% | +5.2% | +5.4% | +9.8% | +5.5% | +2.5% |
| Depreciation | 4.69 | 4.40 | 4.42 | 4.35 | 4.29 | 4.35 | 4.34 | 4.26 |
| Interest | 3.52 | 3.06 | 3.16 | 2.80 | 3.28 | 3.26 | 3.12 | 2.60 |
| Profit before tax | 12.27 | 5.97 | 5.17 | 2.27 | 4.16 | 13.28 | 1.32 | 3.12 |
| Tax | 3.19 | 1.69 | 1.44 | 0.64 | 1.10 | 3.45 | 0.41 | 1.21 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 859 | 659 | 590 | 601 | 576 | 466 | 326 |
| Revenue growth | +30.4% | +11.7% | -1.9% | +4.5% | +23.6% | +42.9% | - |
| Other income | 0.33 | 7.68 | 0.13 | 0.33 | 0.29 | 0.06 | 0.21 |
| Total expenses | 812 | 617 | 527 | 554 | 543 | 420 | 302 |
| Employee cost | 23.57 | 20.13 | 17.89 | 16.84 | 17.99 | 15.70 | 14.30 |
| EBITDA | 46.99 | 42.14 | 63.02 | 47.75 | 32.16 | 45.52 | 23.59 |
| EBITDA margin | +5.5% | +6.4% | +10.7% | +7.9% | +5.6% | +9.8% | +7.2% |
| Depreciation | 17.46 | 17.12 | 15.98 | 15.49 | 12.45 | 12.21 | 10.58 |
| Interest | 12.31 | 11.55 | 14.03 | 14.79 | 10.67 | 10.44 | 10.28 |
| Profit before tax | 17.55 | 21.15 | 33.14 | 17.80 | 9.33 | 22.93 | 2.94 |
| Tax | 4.88 | 6.16 | 10.86 | 5.10 | 3.83 | 1.28 | 0.86 |
| Net profit | 12.64 | 9.56 | 22.28 | 12.70 | 5.50 | 21.65 | 2.08 |
| Net profit margin | +1.5% | +1.5% | +3.8% | +2.1% | +1.0% | +4.7% | +0.6% |
| EPS (₹) | 14.96 | 17.71 | 26.30 | 16.01 | 7.25 | 28.53 | 2.76 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 31.52 | 30.79 | 30.06 | 28.81 | 27.73 | 27.00 | 26.28 |
| Reserves & surplus | 238 | 226 | 211 | 160 | 128 | 125 | 103 |
| Shareholders' funds (net worth) | 270 | 257 | 241 | 189 | 156 | 152 | 130 |
| Secured loans | 79.85 | 86.41 | 75.63 | 128 | 141 | 133 | 90.27 |
| Unsecured loans | 1.28 | 1.66 | 1.98 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total debt | 81.13 | 88.07 | 77.61 | 128 | 141 | 133 | 90.27 |
| Total liabilities | 362 | 355 | 326 | 323 | 297 | 285 | 220 |
| Assets | |||||||
| Gross block | 337 | 323 | 310 | 294 | 248 | 268 | 221 |
| Net block | 198 | 201 | 206 | 204 | 173 | 187 | 151 |
| Capital work in progress | 43.79 | 13.25 | 6.53 | 6.58 | 47.59 | 19.74 | 13.95 |
| Investments | 5.91 | 5.75 | 5.25 | 4.75 | 0.01 | 0.01 | 0.01 |
| Inventories | 119 | 134 | 99.21 | 77.33 | 74.82 | 73.19 | 56.49 |
| Sundry debtors | 105 | 76.26 | 70.11 | 65.36 | 54.47 | 54.43 | 17.92 |
| Cash & bank balances | 13.29 | 1.07 | 6.22 | 7.68 | 1.41 | 6.73 | 0.09 |
| Loans & advances | 24.86 | 39.98 | 23.84 | 31.92 | 48.77 | 41.04 | 19.85 |
| Total current assets | 261 | 252 | 199 | 182 | 179 | 175 | 94.35 |
| Total current liabilities | 136 | 104 | 79.56 | 66.16 | 92.82 | 93.01 | 34.76 |
| Net working capital | 125 | 148 | 120 | 116 | 86.65 | 82.38 | 59.59 |
| Total assets | 362 | 355 | 326 | 323 | 297 | 285 | 220 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.72 | 6.15 | 7.62 | 1.41 | 6.73 | 0.09 | 0.02 |
| Net cash from operating activities | 76.78 | 11.35 | 52.00 | 24.32 | 23.36 | 35.51 | 18.10 |
| Net cash from investing activities | (45.80) | (16.41) | (16.46) | (10.51) | (22.60) | (60.47) | (2.15) |
| Net cash from financing activities | (19.49) | (0.37) | (37.01) | (7.60) | (6.08) | 31.59 | (15.88) |
| Net change in cash | 11.49 | (5.43) | (1.47) | 6.21 | (5.32) | 6.63 | 0.07 |
| Closing cash | 13.29 | 1.07 | 6.22 | 7.68 | 1.41 | 6.73 | 0.09 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +30.4% | +11.7% | -1.9% | +4.5% | +23.6% | +42.9% | - |
| EBITDA growth | +11.5% | -33.1% | +32.0% | +48.5% | -29.4% | +93.0% | - |
| PBT growth | -17.0% | -36.2% | +86.2% | +90.8% | -59.3% | +679.9% | +9998.0% |
| Net income growth | +32.2% | -57.1% | +75.4% | +130.9% | -74.6% | +940.9% | - |
| Revenue CAGR (3Y) | +12.6% | +4.6% | +8.2% | +22.7% | +29.6% | - | - |
| EBITDA CAGR (3Y) | -0.5% | +9.4% | +11.5% | +26.5% | +84.0% | - | - |
| Profitability & leverage | |||||||
| Net income margin | +1.5% | +2.3% | +3.8% | +2.1% | +1.0% | +4.7% | +0.6% |
| Return on capital employed | +8.3% | +8.4% | +14.5% | +10.5% | +6.9% | +13.2% | +5.9% |
| Return on net worth | +5.3% | +4.2% | +11.5% | +8.4% | +4.1% | +17.8% | +1.7% |
| Debt / equity | 0.32 | 0.33 | 0.48 | 0.78 | 0.89 | 0.79 | 0.70 |
| Long-term debt / equity | 0.05 | 0.07 | 0.19 | 0.40 | 0.47 | 0.32 | 0.23 |
| Interest cover | 41.69 | 46.16 | 29.83 | 45.85 | 54.13 | 31.34 | 79.02 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.60 | 2.08 | 1.95 | 2.22 | 2.23 | 1.91 | 1.56 |
| Inventory turnover | 6.79 | 5.64 | 6.68 | 7.90 | 7.78 | 7.18 | 5.97 |
| Debtors turnover | 9.50 | 9.01 | 8.71 | 10.04 | 10.57 | 12.88 | 13.44 |
| EPS (₹) | 14.96 | 17.71 | 26.30 | 16.01 | 7.25 | 28.53 | 2.76 |
| Dividend per share (₹) | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 | 3.00 | 0.00 |
| Book value per share (₹) | 291.35 | 276.65 | 258.98 | 211.70 | 179.23 | 174.91 | 146.29 |
To see the full year-wise statements and ratios of Aarti Surfactants Limited, buy the company report.
Board of directors of Aarti Surfactants Limited
Aarti Surfactants has 8 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Chandrakant Vallabhaji Gogri | Director | 18 Jun 2018 | 8 Years 4 Months | Current |
| Nikhil Parimal Desai | Managing Director | 18 Jun 2018 | 8 Years 4 Months | Current |
| Misha Bharat Gala | Director | 20 Aug 2019 | 7 Years 2 Months | Current |
| Santosh Kakade Also directs: Aarti HPC Limited | Whole-Time Director | 20 Aug 2019 | 7 Years 2 Months | Current |
| Mulesh Manilal Savla Also directs: Shah and Savla LLP, Valiant Laboratories Limited | Director | 13 Jun 2019 | 7 Years 4 Months | Current |
| Dattatray Sidram Galpalli | Director | 18 Jun 2018 | 8 Years 4 Months | Current |
Showing 6 of 8 current directors. View all directors
Peer comparison
Aarti Surfactants Limited is compared with the 10 companies closest to it by revenue in the Chemicals industry (Surfactants), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Sai Sulphonates Pvt Ltd | ₹1,452.87 Cr (FY 2025) | 6.0% | Kolkata, West Bengal, India | |||
| Aromatics India Private Limited | ₹1,077.09 Cr (FY 2025) | 5.0% | Delhi, India | |||
| New India Detergents Private Limited | ₹1,033.11 Cr (FY 2025) | 34.0% | New Delhi, Delhi, India | |||
| Aarti Surfactants Limitedthis company | ₹859.13 Cr (FY 2026) | ₹12.3 Cr | 1.4% | 30.4% | 312 | Dhar, Madhya Pradesh, India |
| Unitop Chemicals Private Limited | ₹774.29 Cr (FY 2025) | 18.0% | Mumbai, Maharashtra, India | |||
| Ultramarine & Pigments Limited | ₹707.1 Cr (FY 2025) | 24.0% | Mumbai, Maharashtra, India | |||
| Sterling Auxiliaries Pvt Ltd | ₹527.08 Cr (FY 2024) | 32.0% | Mumbai, Maharashtra, India | |||
| Nidl Surfactants Private Limited | ₹520.37 Cr (FY 2025) | 100.0% | New Delhi, Delhi, India | |||
| Radha Madhav Surfactants Private Limited | ₹445.58 Cr (FY 2025) | 17.0% | Sachin, Gujarat, India | |||
| A R Sulphonates Private Limited | ₹319.34 Cr (FY 2025) | 16.0% | Kolkata, West Bengal, India | |||
| Dyna Glycols Private Limited | ₹303.04 Cr (FY 2024) | -14.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Aarti Surfactants Limited, buy the company report.
Auditor
Aarti Surfactants Limited is audited by GOKHALE & SATHE for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| GOKHALE & SATHE | FY 2023 | 103264W |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 49.80%, foreign institutional investors hold 0.10%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 50.10%.
Sep 2026
QUARTER
49.80% Promoters
0.10% FII (Foreign Institutional)
50.10% Retail & Others
Promoter holding - history
Now 49.80% · Sep 2026High 49.90% · Dec 2025Low 49.80% · Sep 2026
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 49.80% | 49.90% | 49.90% | 49.90% |
| Public | 50.20% | 50.10% | 50.10% | 50.10% |
Charges & borrowings
Open charges
₹423.79 Cr
Satisfied charges
₹9 Lakh
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 12 Aug 2025 | 101142053 | Others | ₹13 Lakh | Open | |
| 12 Aug 2025 | 101142057 | Others | ₹17 Lakh | Open | |
| 11 Feb 2025 | 101051158 | Others | ₹20 Cr | Open | |
| 17 Oct 2024 | 100990334 | Others | ₹24.88 Lakh | Open | |
| 29 Feb 2024 | 100901446 | Others | ₹23.5 Lakh | Open |
To see the full charge records of Aarti Surfactants Limited, buy the company report.
Total charge records: 12 View all charges
Deals & funding
Aarti Surfactants Limited has 28 deals on record (26 market trades, 1 funding round, 1 secondary share transfer), with disclosed funding of ₹49.6 Cr; the latest was in September 2024.
Total deals
28
Market trades
26
Funding round
1
Secondary share transfer
1
Disclosed funding
₹49.6 Cr
Deals on record (5 of 28)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2024 | Market trade | ₹4.42 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Sep 2024 | Market trade | ₹4.48 Cr | Buyer: NK Securities Research Private Limited Seller: NK Securities Research Private Limited |
| Sep 2024 | Market trade | ₹6.55 Cr | Buyer: Setu Securities Private Limited Seller: Setu Securities Private Limited |
| Apr 2024 | Market trade | ₹43.27 Cr | Buyer: Qe Securities LLP , Yuga Stocks & Commodities Private Limited , Magpro Securities Private Limited Seller: Qe Securities LLP , Yuga Stocks & Commodities Private Limited , Magpro Securities Private Limited |
| Jan 2024 | Market trade | ₹3.78 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
To see the full deal history of Aarti Surfactants Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Aarti Surfactants Limited has 4 court cases on record: 3 filed by Aarti Surfactants, 1 filed against it. 2 cases are pending and 2 are disposed.
Total cases
4
Filed by the company
3
Filed against the company
1
Pending
2
Disposed
2
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 3 | 1 | 2 |
| High courts | 1 | 0 | 0 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Sangli, Maharashtra | Court case (Civil M.A.) | Filed by the company against an individual | Pending |
| District court, Silvassa, The Dadra And Nagar Haveli And Daman And Diu | Court case (I.D.R. - DISTRICT) | Filed by the company against an individual | Pending |
| District court, Indore, Madhya Pradesh | Court case (MJC SUC) | Filed against the company by an individual | Disposed |
| High Court, GUJARAT | Special civil application | Filed by the company against Union of India and 4 others | Disposed |
To see the full case history of Aarti Surfactants Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Aarti Surfactants Limited was last rated by Care on 24 Aug 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 24 Aug 2022 |
To see the full credit ratings and regulatory alerts of Aarti Surfactants Limited, buy the company report.
MSME payment delays
Aarti Surfactants Limited has 6 MSME Form 1 returns on record between 2022 and 2024, listing 30 overdue payments to 14 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 14)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| TPL Plastech Limited | |||
| Orbit Pumps & Systems Private Limited |
To see the full MSME payment records of Aarti Surfactants Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Aarti Surfactants has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Aarti HPC Limited | U24290GJ2019PLC111693 |
To see the full group structure of Aarti Surfactants Limited, buy the company report.
Employees & EPFO
Aarti Surfactants Limited has a workforce of 312 employees on its EPFO records as of Apr 03, 2024, across 3 active EPFO establishments.
Employee count
312
Active EPFO establishments
3
Employee growth
-0.32%
GST
Aarti Surfactants has 5 GST registrations: 4 active and 1 cancelled or inactive.
Total GSTINs
5
Active
4
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 23AARCA0340H1Z0 | Madhya Pradesh | Active | 01 Apr 2019 |
| 26AARCA0340H1ZU | Dadra and Nagar Haveli and Daman and Diu | Active | 01 Apr 2019 |
| 27AARCA0340H1ZS | Maharashtra | Active | 03 May 2019 |
| 27AARCA0340H2ZR | Maharashtra | Active | 10 Aug 2022 |
To see the full GST registrations and return filing status of Aarti Surfactants Limited, buy the company report.
Recent activity
Aarti Surfactants Limited has 8 board changes on record since 2018: 8 appointments. The latest: Nisha Bharat Shah was appointed as Director on 01 Oct 2025.
Charges
A charge with Others of Rs. 190.10 Cr registered on 23 Dec 2020 with Charge ID 100404556 was modified on 11 Jun 2026.
Filing
Aarti Surfactants Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Gwalior.
Charges
A charge with Others of Rs. 71.20 Cr registered on 17 Sep 2019 with Charge ID 100291342 was modified on 13 Feb 2026.
Charges
A charge registered on 18 Dec 2019 via Charge ID 100313297 with Others was fully satisfied on 19 Dec 2025.
Appointed
Nisha Bharat Shah was appointed as Director.
Appointed
Parimal Hasmukhlal Desai was appointed as Director.
AGM
Aarti Surfactants Limited last Annual general meeting of members was held on 23 Sep 2025 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 0.13 Cr with Charge ID 101142053 was registered on 12 Aug 2025.
Charges
A charge with Others amounted to Rs. 0.17 Cr with Charge ID 101142057 was registered on 12 Aug 2025.
Charges
A charge with The Hongkong And Shanghai Banking Corporation Limited of Rs. 140.80 Cr registered on 15 Sep 2021 with Charge ID 100484227 was modified on 31 Mar 2025.
Charges
A charge with Others amounted to Rs. 20.00 Cr with Charge ID 101051158 was registered on 11 Feb 2025.
Charges
A charge with Others amounted to Rs. 0.25 Cr with Charge ID 100990334 was registered on 17 Oct 2024.
15 earlier events are in the company report.
News
Aarti Surfactants: Co and CEO Ordered by Customs Commissioner.
Aarti Surfactants: Co Faces Confiscation Orders And Penalties, Including A Fine For Customs Duty.
Aarti Surfactants: Co Has Goods Worth 23 Million Rupees Seized.
Frequently asked questions
Aarti Surfactants is an active public limited company based in Dhar, Madhya Pradesh, India. The company works in surfactants and detergents, within the chemicals and materials industry. It was incorporated on 18 June 2018 (8+ years old) and is registered under CIN L24100MP2018PLC067037. Listed on BSE: 543210 and NSE: AARTISURF.
Aarti Surfactants reported revenue of ₹859.13 Cr for FY 2025-26 (up 30.4% YoY) based on consolidated financials.
Aarti Surfactants has 8 current directors:
- Nikhil Parimal Desai - Managing Director
- Santosh Kakade - Whole-Time Director
- Chandrakant Vallabhaji Gogri - Director
- Misha Bharat Gala - Director
- Mulesh Manilal Savla - Director
- Dattatray Sidram Galpalli - Director
- Nisha Bharat Shah - Director
- Parimal Hasmukhlal Desai - Director
The latest financial statements of Aarti Surfactants on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 23 September 2025. Year-wise statements from FY 2019 are in the company report.
The GSTIN of Aarti Surfactants is 23AARCA0340H1Z0, registered in Madhya Pradesh. The company has 5 GST registrations in all, of which 4 are active and 1 is cancelled or inactive. Other active GSTINs include 26AARCA0340H1ZU (Dadra and Nagar Haveli and Daman and Diu), 27AARCA0340H1ZS (Maharashtra), 27AARCA0340H2ZR (Maharashtra).
The CIN (Corporate Identification Number) of Aarti Surfactants is L24100MP2018PLC067037. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Aarti Surfactants is a listed company as per MCA records. Its shares are listed on both BSE (code: 543210) and NSE (symbol: AARTISURF).
Aarti Surfactants has 4 court cases on record: 3 filed by the company and 1 filed against it. 2 are pending. Most are in the district courts.
Aarti Surfactants was incorporated on 18 June 2018, making it 8+ years old. It is registered with the Registrar of Companies, Gwalior.
Aarti Surfactants has 28 deals on record (26 market trades, 1 funding round, 1 secondary share transfer), with disclosed funding of ₹49.6 Cr; the latest was in September 2024.
The peers of Aarti Surfactants by revenue are Sai Sulphonates Pvt Ltd, Aromatics India Private Limited, New India Detergents Private Limited, Unitop Chemicals Private Limited, Ultramarine & Pigments Limited and 5 more, all in the Chemicals industry (Surfactants), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Nisha Bharat Shah was appointed as Director on 01 Oct 2025. Parimal Hasmukhlal Desai was appointed as Director on 01 Oct 2025. Misha Bharat Gala was appointed as Director on 20 Aug 2019. Aarti Surfactants has 8 board changes on record in total.
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