Aarti Industries: AJC Deep-dive

A  business dissection: the benzene–toluene chains, the aniline choke point, and a company caught in China’s shadow— read through AJC's own house thesis. This report is a chemicals intelligence dissection of Aarti's operating businesses — chemistry, value chains, feedstock and the policy mechanics around them; where the business meets an existing AJC thesis — the Wanhua aniline pull, China's VAT-rebate discipline, the Hormuz sulphur cascade —we say so plainly.