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Aarti Surfactants Limited (AARTISURF) Fair Value & Analysis

Basic Materials · IN · Market cap ₹3.2B

AS Aarti Surfactants Limited AARTISURF · NSE
Price₹612.45
Fair Value₹247.69
Upside-59.6%
Quality50/100
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Healthy Growth
Thin margins · 1.4% net margin
Low debt · generates free cash flow
0.26% dividend yield
Mixed vs. peers (7/14)
Narrow moat 29/100
Evidence: High Range ₹196.29 – ₹309.61 Share as image

Fair value as of: Aug 2, 2026

From 25 valuation models · updated 11 days ago

Share price +58.9% over the past month.

A solid business, but screening 60% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹309.61). The favourable scenario is already priced in.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹1,782 ₹321.10 Fair Value ₹247.69 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range ₹321.10 – ₹1,782 · fair‑value band ₹196.29 – ₹309.61 · the ₹612.45 price screens above the ₹247.69 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Aarti Surfactants Limited (AARTISURF) currently trades at ₹612.45, while our model-based Fair Value estimate is ₹247.69, implying the stock looks roughly 59.6% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Aarti Surfactants Limited generated revenue of ₹8.6B at a net margin of 1.4%. Revenue grew 26.8% year over year. It earns a return on equity of 5.2%. Net debt stands at ₹908M. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹196.29 (bear case) to ₹309.61 (bull case); at ₹612.45, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 94% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -60%, AARTISURF screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹269.02 ₹511.88 ₹921.47 80
Residual Income ₹217.21 ₹216.69 ₹201.96 76
Rev-Margin DCF ₹279.40 ₹539.12 ₹891.93 74
All 25 models by family
DCF Models
FCF DCF ₹275.88 ₹548.06 ₹1,055 38
5Y Revenue Exit ₹279.40 ₹549.43 ₹928.90 39
5Y EBITDA Exit ₹329.73 ₹658.13 ₹1,086 41
5Y P/E Exit ₹183.72 ₹342.80 ₹528.66 38
10Y Revenue Exit ₹264.53 ₹522.11 ₹943.83 36
10Y EBITDA Exit ₹308.68 ₹602.10 ₹1,078 37
10Y P/E Exit ₹212.17 ₹370.06 ₹601.02 35
Earnings-Based
Graham-Dodd ₹99.08 ₹535.37 ₹742.11 54
Lynch FV ₹148.29 ₹211.85 ₹275.40 50
PEG = 1.0 ₹148.29 ₹211.85 ₹275.40 46
EPV ₹227.32 ₹268.53 ₹304.08 59
Dividend Discount
Gordon GGM ₹8.77 ₹17.47 ₹26.46 70
DDM Multi-Stage ₹8.77 ₹15.10 ₹18.44 61
Multiples
P/E Multiple ₹185.77 ₹247.69 ₹309.61 63
P/S Multiple ₹185.77 ₹247.69 ₹309.61 58
P/B Multiple ₹185.77 ₹247.69 ₹309.61 55
EV/EBIT ₹328.23 ₹448.86 ₹569.49 53
EV/EBITDA ₹381.43 ₹519.79 ₹658.15 54
EV/Revenue ₹279.98 ₹414.39 ₹548.81 43
Asset-Based
NCAV (Graham) ₹144.57 ₹193.72 ₹289.14 50
Growth DCF
Growth DCF ₹269.02 ₹511.88 ₹921.47 80
Rev-Margin DCF ₹279.40 ₹539.12 ₹891.93 74
Economic Profit
Residual Income ₹217.21 ₹216.69 ₹201.96 76
ROIC Compounder ₹227.32 ₹268.53 ₹324.86 72
Growth Earnings
Growth-Adj P/E ₹196.29 ₹280.42 ₹364.54 68

Widest divergence: DCF Models (₹548.06) versus Dividend Discount (₹15.10). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹8.6B
Revenue growth (YoY) +26.8%
Net margin 1.4%
Return on equity 5.2%
Free cash flow ₹201M FY2026
P/E ratio 25.6
More key figures
Operating margin 3.4%
EPS (TTM) ₹14.58
Dividend yield 0.3%
EPS growth (YoY) -57.0%
Net debt ₹908M FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 51 · Market factors (momentum, volatility) 64

Profitability 42
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 75
Distance to the 52-week high (market factor)
Net Issuance 64
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Aarti Surfactants Limited, together with its subsidiary, produces and supplies ionic and non-ionic surfactants, and specialty products for the home and personal care, agro and oil, and industrial applications in India and internationally.

Full company description

Aarti Surfactants Limited, together with its subsidiary, produces and supplies ionic and non-ionic surfactants, and specialty products for the home and personal care, agro and oil, and industrial applications in India and internationally. The company's products portfolio includes surfactants, mild surfactants, rheology modifiers, pearlizing agents, UV filters, syndet and soap bases, and active ingredients, as well as conditioning agents, blends, proteins, and quats. It also serves skin care, oral, hair, baby, cosmetics, bath and shower, sun care, fabric/laundry care, dishwashing, toilet care, and surface care sectors. The company was formerly known as Arti Surfactants Limited. Aarti Surfactants Limited was incorporated in 2018 and is headquartered in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Aarti Surfactants Limited reported revenue of ₹8.6B in FY2026 versus ₹5.7B in FY2022, a compound +10.8%/yr. Reported net income was ₹123M in FY2026, compounding +22.4%/yr from FY2022.

Growth Quality 83/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹8.6B
Latest YoY
+30.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.1%
Avg. growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.7%
Revenue +10.8%/yr
FY22 ₹5.7B
FY23 ₹6.0B
FY24 ₹5.9B
FY25 ₹6.6B
FY26 ₹8.6B
Net income +22.4%/yr
FY22 ₹54.9M
FY23 ₹127M
FY24 ₹213M
FY25 ₹145M
FY26 ₹123M

AARTISURF screens 60% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Aarti Surfactants Limited Fair Value". https://www.fairvalue-calculator.com/stock/AARTISURF

Peer Group

Specialty Chemicals · 674 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 50 · Below median
Fair Value upside −60% · Below median
Return on equity (TTM) 5% · Below median
Return on assets 4% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 27% · Top 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.17× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 25.6× · Cheaper than median
P/B 1.29× · Cheaper than median
P/S (TTM) 0.37× · Cheaper than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 7.3× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 19
PAST 21 · sector 23
HEALTH 91 · sector 95
DIVIDEND 5 · sector 25

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

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Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Aarti Surfactants Limited (AARTISURF) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹247.69 versus a price of ₹612.45, about −60% (overvalued).
What is the fair value of AARTISURF?
Our model-based fair value for Aarti Surfactants Limited is ₹247.69 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹612.45.
What is the quality score of AARTISURF?
Aarti Surfactants Limited has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Aarti Surfactants Limited (AARTISURF)?
Aarti Surfactants Limited reported trailing-twelve-month revenue of about ₹8.6B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of AARTISURF?
The net profit margin of Aarti Surfactants Limited is about 1.4%, meaning it keeps roughly 1.4% of revenue as net income. Based on the latest reported figures.
Does Aarti Surfactants Limited pay a dividend?
Aarti Surfactants Limited currently shows a dividend yield of about 0.26% relative to its recent price (as of Aug 2, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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