Aggressive expansion to support long term growth Aarti has spent | 3000+ crore in capex in FY17-20, on three multiyear projects. Of this, one was recently cancelled (expects to receive | 900-975 crore as compensation) while the remaining two projects have multiyear peak annual potential of | 590 crore (exhibit 3). Apart from this, it has spent on new R&D; unit, expansion of hydrogenation, NCB, de-bottlenecking in various specialty chemicals, and pharma. Going ahead, Aarti is likely to spend at least | 1000-1200 crore per annum in the next four to six years to...