Every listed Indian specialty chemicals company covered here — Deepak Nitrite, Acutaas, Aether, Gujarat Fluorochemicals, Navin Fluorine, PI Industries, SRF — against Aarti, on the same numbers from the same filings. Click a column to rank by it. Tick up to three and press Compare for the full side-by-side.
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | ₹75.2k Cr | 41.0× | 7.4% | 21.6% | 14.1% | 1.6× | 0.4× | -12.9% | |
| 2 | ₹49.3k Cr | 87.8× | 5.5% | 25.8% | 9.7% | 1.4× | 0.3× | 15.4% | |
| 3 | ₹43.3k Cr | 65.2× | 41.1% | 32.6% | 21.2% | 1.8× | 0.3× | 79.0% | |
| 4 | ₹36.6k Cr | 27.7× | -15.8% | 25.8% | 15.9% | 0.8× | 0.0× | -34.3% | |
| 5 | ₹26.3k Cr | 73.9× | 33.0% | 35.9% | 32.3% | 1.0× | 0.0× | 120.1% | |
| 6 | ₹22.0k Cr | 40.0× | -4.8% | 12.5% | 11.4% | 1.0× | 0.3× | -10.9% | |
| 7 | ₹21.8k Cr | 99.4× | 38.3% | 31.3% | 11.6% | 0.5× | 0.2× | 118.7% | |
| vs | 8Aarti Industries | ₹18.0k Cr | 42.9× | 14.0% | 14.1% | 6.9% | 2.8× | 0.8× | 27.3% |
Market cap, P/E and the 12-month return move with the market and are dated to the last close. Every other column is the last full financial year. n/m — loss-making, so the multiple means nothing. A dash means not recorded, which is not the same as nil.
| Metric | AARTIIND | DEEPAKNTR |
|---|---|---|
| What you pay22 Sept 2026 | ||
| Share price | ₹496.00 | ₹1,613.20 |
| Market cap | ₹17,985 Cr | ₹22,004 Cr |
| P/E | 42.92× | 39.97× |
| P/B | 3.02× | 3.77× |
| P/S | 2.17× | 2.79× |
| 12-month return | 27.3% | -10.9% |
| SizeFY26 | ||
| Revenue | ₹8,286 Cr | ₹7,887 Cr |
| PAT | ₹419 Cr | ₹551 Cr |
| Net worth | ₹5,955 Cr | ₹5,837 Cr |
| Gross block | ₹6,556 Cr | ₹3,270 Cr |
| GrowthFY26 | ||
| Revenue growth | 14.0% | -4.8% |
| Revenue CAGR (3y) | 7.8% | -0.4% |
| PAT CAGR (3y) | -8.4% | -13.5% |
| What it keepsFY26 | ||
| EBITDA margin | 14.1% | 12.5% |
| PAT margin | 5.1% | 7.0% |
| ROCE | 6.9% | 11.4% |
| ROE | 7.0% | 9.4% |
| CFO / PAT (3y) | 2.77× | 0.99× |
| What it owesFY26 | ||
| Net debt | ₹4,357 Cr | ₹1,369 Cr |
| Debt / equity | 0.83× | 0.28× |
| CWIP | ₹2,030 Cr | ₹1,828 Cr |
| Debtor days | 62 days | 70 days |
| Who owns itFY26 | ||
| Promoter holding | 41.8% | 49.3% |
| Institutional holding | 28.1% | 30.0% |
Every figure comes from the same filings the company pages are built from. A dash means the figure is not recorded, which is not the same as nil.
Aarti makes benzene- and toluene-based intermediates and sulphuric acid derivatives — more than a hundred products from sixteen plants in western India, sold to over 1,100 customers in 60 countries and ending up in agrochemicals, dyes, fuel additives, pharmaceuticals and polymers. It is fully backward integrated on benzene, and India Ratings ranks it among the top three globally in that chain's chlorination, nitration, ammonolysis and hydrogenation chemistry. Revenue grew 14% to ₹8,286 crore; the return on it did not follow, at 6.9% on capital.
Deepak Nitrite runs two businesses: phenolics, where it is India's largest producer of phenol, acetone and isopropyl alcohol, at ₹1,775 crore of June-quarter revenue, and advanced intermediates for agrochemicals, pharmaceuticals, paper and personal care at ₹804 crore. Seven plants across five locations, exports to more than 50 countries, 85% of sales domestic. The year to March 2026 was poor — revenue down 4.8% and profit down 21% — and then the June quarter delivered a 21% EBITDA margin against 11% and profit up 207%.
No acquisitions — growth has come from plants. Fuel additives capacity went from 200 to 290 KTPA and on to 360 KTPA in July 2026, alongside DCB debottlenecking and the Zone IV complex of five chemistry blocks, with FY27 capital spending guided at ₹700–800 crore. The newer pattern is joint ventures: Augene Chemical, 50:50 with Superform, commissioning with steady-state revenue projected at ₹300–400 crore, and Re-Aarti for chemical recycling of plastics behind it.
By building, and on a scale that dwarfs the company. No acquisitions; gross block rose 33% to ₹3,270 crore with a further ₹1,828 crore in construction — more than half the completed base again, waiting to be switched on. MIBK, MIBC and acetophenone commission in August 2026, with an agrochemical intermediates plant and an alkylation plant behind them. Then the ₹11,500 crore propylene-to-polycarbonate project for 2028, which includes a plant being physically dismantled at Stade in Germany and shipped to Dahej.
A family business that has given away the chief executive's job and half the boardroom. The board is fourteen, seven of them independent; of six executive seats three are Gogris — Rajendra as chairman and managing director, Rashesh as vice chairman and managing director, Renil as vice chairman — with founder Chandrakant Gogri chairman emeritus. Suyog Kotecha became chief executive in June 2024 and runs the earnings calls. The chairman is also a managing director, so those roles are not separated.
A founder still in the chair at the top, and both his sons made deputy managing directors on the same day. Dr Deepak C. Mehta is chairman and managing director — both roles, one person — and on 9 May 2026 Maulik and Meghav Mehta were each appointed deputy managing director. The independent bench is substantial and Dileep Choksi chairs the audit committee with no family member on it, which is the arrangement that matters most. Deloitte signed FY26 without qualification.
Zone IV has slipped three to six months on labour shortages, with 97% of equipment erected and 85% of piping done — “a pure product execution challenge”, not a demand one.
Aarti management · Q1 FY27
On the PDA chain: “we structurally remain weak because of our technological disadvantage.”
Suyog Kotecha · Q1 FY27
On what changed underneath the margin: “we're no longer a nitration company that buys nitric acid, we're now a nitrogen company that nitrates.”
Deepak Nitrite management · Q1 FY27
Two plants slipped a couple of months on contract labour shortages and a national gas shortage.
Deepak Nitrite management · Q1 FY27
Closing prices to 22 Sept 2026, adjusted for bonuses and splits. Dividends are not counted. This is what happened, not what will.
A sector, read end to end, and the companies as they are published. Roughly monthly. Nothing else, and one click to stop.