Aether Industries Ltd

Aether Industri. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Aether Industries Ltd

₹ 1,501 1.01%
10 Jul - close price
aether.co.in BSE: 543534 NSE: AETHER
About

Incorporated in 2013, Aether Industries Limited is a manufacturer of specialty chemicals. The company is sole Indian manufacturer for chemicals such as 4-(2-Methoxyethyl) Phenol (4MEP), and 3-Methoxy-2-Methylbenzoyl Chloride (MMBC), Thiophene-2-Ethanol (T2E), Ortho Tolyl Benzo Nitrile (OTBN), N-Octyl-D-Glucamine, Delta-Valerolactone, and Bifenthrin Alcohol.[1]

Key Points

Business Segments[1] [2]
a) Contract / Exclusive Manufacturing (46% in FY26 vs 31% in FY25): [3]
The company produces products for its customers under contractual supply agreements that can be either short-term or long-term, and may be exclusive or non-exclusive in nature. It has entered into long-term take-or-pay contracts with global clients such as Baker Hughes, SEQENS, and Saudi Aramco.

Website BSE NSE
  • Market Cap ₹ 19,918 Cr.
  • Current Price ₹ 1,501
  • High / Low ₹ 1,538 / 723
  • Stock P/E 111
  • Book Value ₹ 182
  • Dividend Yield 0.00 %
  • ROCE 9.99 %
  • ROE 7.78 %
  • Face Value ₹ 10.0
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Pros

  • Company's median sales growth is 40.7% of last 10 years

Cons

  • Stock is trading at 8.26 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 7.18% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Chemicals Chemicals & Petrochemicals Specialty Chemicals

Part of BSE 500 BSE Commodities BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty Microcap 250

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
184 161 164 155 115 180 196 197 215 214 230 258 237
124 116 118 124 106 137 142 138 147 146 158 165 176
Operating Profit 60 45 46 31 9 43 55 60 67 69 72 92 62
OPM % 32% 28% 28% 20% 8% 24% 28% 30% 31% 32% 31% 36% 26%
1 3 15 6 6 9 9 11 3 1 7 -2 8
Interest 1 1 2 2 4 3 2 3 2 3 2 3 5
Depreciation 7 9 10 10 10 10 11 10 12 13 15 16 17
Profit before tax 52 37 50 25 2 40 52 57 56 53 62 72 49
Tax % 28% 18% 24% 25% 40% 24% 26% 29% 23% 24% 29% 28% 22%
38 30 38 19 1 30 38 41 43 40 44 52 38
EPS in Rs 3.02 2.28 2.85 1.44 0.08 2.28 2.87 3.08 3.24 3.03 3.29 3.92 2.86
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1 0 24 109 201 302 450 590 651 596 789 940
3 1 22 85 154 230 338 422 465 464 563 645
Operating Profit -2 -1 2 23 48 72 112 168 186 131 225 295
OPM % -252% -194% 10% 21% 24% 24% 25% 28% 29% 22% 29% 31%
4 1 0 0 2 2 4 7 17 30 32 13
Interest 1 0 1 9 11 9 11 13 5 9 10 12
Depreciation 0 0 1 5 6 8 11 15 23 39 43 61
Profit before tax 0 0 1 9 33 57 94 146 174 114 205 235
Tax % 27% 31% 300% 17% 28% 29% 24% 26% 25% 23% 26% 26%
0 0 -1 8 23 40 71 109 130 88 152 174
EPS in Rs 0.12 0.11 -1.27 9.08 27.27 46.68 70.43 9.67 10.47 6.65 11.47 13.08
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 122%
5 Years: 16%
3 Years: 13%
TTM: 19%
Compounded Profit Growth
10 Years: 92%
5 Years: 20%
3 Years: 12%
TTM: 12%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 12%
1 Year: 93%
Return on Equity
10 Years: 11%
5 Years: 9%
3 Years: 7%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 9 34 9 9 9 9 10 113 125 133 133 133
Reserves 0 0 -1 7 30 70 164 274 1,120 1,936 2,093 2,277
35 53 111 126 126 172 211 291 16 144 137 356
1 -21 19 18 42 50 67 92 120 143 199 237
Total Liabilities 45 65 137 159 207 300 453 770 1,380 2,356 2,561 3,003
1 1 56 100 106 129 216 257 646 743 989 1,380
CWIP 20 42 40 2 1 17 0 58 37 219 340 474
Investments 8 0 0 0 0 0 22 17 1 0 100 100
15 21 41 56 99 154 214 438 695 1,393 1,133 1,048
Total Assets 45 65 137 159 207 300 453 770 1,380 2,356 2,561 3,003

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-3 -6 -9 6 23 18 23 -5 -7 -2 118 146
2 -14 -48 -11 -13 -48 -77 -151 -348 -399 -415 -590
-6 17 57 4 -10 33 55 169 439 854 -19 211
Net Cash Flow -8 -3 -1 -0 0 2 2 12 84 453 -316 -233
Free Cash Flow -16 -29 -63 -5 10 -30 -53 -157 -363 -305 -304 -375
CFO/OP 157% 994% -400% 26% 60% 43% 39% 17% 14% 12% 69% 65%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 94 4,358 167 88 87 76 88 101 145 141 122 119
Inventory Days 52 9,733 629 149 133 166 141 221 301 411 377 401
Days Payable 172 1,922 575 92 76 88 82 95 99 113 111 121
Cash Conversion Cycle -25 12,169 220 144 144 153 147 227 348 439 388 399
Working Capital Days -794 9,037 -18 49 11 32 36 82 268 360 276 200
ROCE % -1% -0% 2% 14% 28% 32% 33% 30% 18% 8% 10% 10%

Insights

In beta
Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
CRAMS Revenue as % of Total Revenue
%

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R&D as % of Revenue
%
R&D Expenditure
INR MM
Capacity Utilization - Manufacturing Facility 2 (Site 2)
%
Products in Portfolio
count
Total Customers
count
Capacity Utilization - Manufacturing Facility 3 (Site 3)
%
Capacity Utilization - Manufacturing Facility 4 (Site 4)
%
R&D Expenditure (Percentage of Turnover)
%

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Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
81.80% 81.80% 81.79% 81.79% 81.79% 81.78% 81.77% 81.77% 74.99% 74.99% 74.98% 74.94%
1.87% 2.44% 1.97% 2.22% 2.90% 3.17% 3.32% 3.33% 5.03% 4.64% 5.81% 6.29%
13.65% 12.99% 11.79% 11.82% 11.55% 11.63% 11.49% 11.43% 13.41% 12.97% 12.25% 12.66%
2.67% 2.76% 4.44% 4.16% 3.74% 3.40% 3.41% 3.47% 6.55% 7.39% 6.96% 6.10%
No. of Shareholders 55,20860,46684,00078,65571,68367,25166,67764,03472,62873,80667,80665,562

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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