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Aarti Drugs expects better realisations, exports recovery soon

Aarti Drugs' Chief Financial Officer, Adhish Patil, foresees a turnaround in business in the fourth quarter with contribution from new plants.

By Surabhi Upadhyay | Reema Tendulkar Jan 26, 2024 3:19:36 PM IST (Published)

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Aarti Drugs, a manufacturer of bulk drugs and speciality chemicals, expects an upswing in realisations for export markets. In an interview with CNBC-TV18, Adhish Patil, the Chief Financial Officer (CFO) of Aarti Drugs, shared the way forward after the company declared its earnings for the third quarter (Q3FY24).

Patil noted that export markets typically yield higher gross margins than the domestic market. He expects a turnaround in exports during the fourth quarter (Q4), but indicated that it may start towards the end of the quarter.

Patil said the recent downturn in the export market was largely due to factors such as a shortage of dollars in some Latin and Middle Eastern countries. He explained that high-interest rates and slow government tenders further contributed to volume degrowth. However, there is an improving trend, stating that destocking, a process that had begun in FY23, is now nearly complete.

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