Aarti Industries Limited is committed to invest Rs. 3,000+ crore by FY24 to achieve its growth aspirations, Rajendra Gogri, CMD, Aarti Industries Limited, said during Q4 FY22 Earnings Conference Call.   

"Going forward, we remain committed to investing Rs. 3,000+ crore by FY24 to achieve our growth aspirations. Our focus will be to undertake R&D and innovation-led projects where we have 40+ products for speciality chemicals and 50+ products for pharma are in the pipeline. This will lend visibility and help achieve our growth guidance for FY27, as shared earlier," commented Gogri.

To manage and execute this, we have also onboarded close to 1,500 personnel in FY22 across various functions, said Gogri.

In toto, the company now has a total employee workforce of around 8,000 - 8,500. The company has also onboarded lot of people in R&D and it is expected that the R&D spend will be around Rs. 60-80 crore range and may go up further in the next 1 or 2 years.

"The people were onboarded for the projects which were commissioned and also the projects which are going to get commissioned over this third contract and some other intermediate plant, which will be mostly commissioned in the first half of FY23. So we are already on board the people for the plant, which are going to be commissioned mainly in the first half of FY23," commented Gogri.

"Overall, we entailed a Capex of over Rs. 1,300 crore in FY22, with about Rs. 360 crore spent in Q4 FY22. This was in line with our planned Capex outlay for the year. We are now witnessing a good ramp-up of these capacities and expect most of these to see their capacities reach about 70 - 90% utilisation by FY24," Gogri added.