AARTIPHARM
Aarti Pharmalabs Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
AARTIPHARM
FY26 → FY29 · 3 years of guidance · ~2.7 years from today₹667 today
BEAR
₹412
-38%-17% a yr
10.4% a year · 15.9x exit
BASE
₹755
+13%+5% a yr
18% a year · 23.9x exit
BULL
₹1,183
+77%+24% a yr
24.4% a year · 31.9x exit
Where the market has priced it
13x35x today — outside the range33x
- the guided figure reached earnings through a low-confidence bridge
- multiple band rests on only 4 filed years
- at 35x its FY26 earnings the stock already trades above the top of its own ten-year range (32x)
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹19.27 (screener) |
|---|---|
| Guided growth | 18% a year, said on the call of 01-Jun-2026 · transcript |
| Read across as | operating: unlabelled growth figure, read as revenue — low confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 15.89x / 23.85x / 31.86x, this company’s own p20 / median / p80 across 4 filed years |
| Filed-industry peers | median 30.27x across 38 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)3 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
generic growth 18%
Based on current project visibility and the operational ramp-up, we are targeting 15% to 18% growth in both revenue and EBITDA for next three, four years.
Call 01-Jun-2026 · bridge confidence low · transcript PDF