Aether Industries Limited AETHER NSEINFRA

Basic Materials · Specialty Chemicals · India

https://www.aether.co.in

Aether Industries Limited produces and sells advanced intermediates and specialty chemicals in India and internationally. It also large-scale manufacturing, contract research and manufacturing services, as well as contract/exclusive manufacturing services. The company serves its products to the chemical industry, including multinational, regional, and domestic companies in the pharmaceuticals, agrochemicals, materials science, textiles, coatings, high-performance photography, additives, and oil and gas industries. It also exports its products. Aether Industries Limited was incorporated in 2013 and is headquartered in Surat, India.

Market & Price

Market Cap

₹14,571.44 Cr

Current Price

₹1,098.00

High / Low (52W)

₹1,252.00 / ₹730.80

Beta

-0.01

Valuation

Stock P/E

66.22

Industry PE

23.81

Forward P/E

38.19

PEG Ratio

Book Value

₹185.10

Price to Book

5.93

P/S

12.56

EV/EBITDA

41.31

Dividend Yield

Profitability & Returns

ROCE

12.15%

ROE

9.38%

ROA

6.36%

Profit Margin

18.92%

Op Margin

21.06%

EPS (Latest Qtr)

₹4.07

EPS (TTM)

₹16.58

Balance Sheet & Liquidity

Debt/Equity

0.19

Quick Ratio

0.65

Current Ratio

1.78

Debt

₹457.94 Cr

Total Assets

₹3,201.43 Cr

Current Assets

₹1,171.47 Cr

Working Capital

₹514.13 Cr

Ownership

Promoter Holding

76.59%

Chg in Prom Hold

-0.02%

FII / Inst Holding

13.73%

Chg in FII Hold

0.58%

Financial Snapshot

Enterprise Value

₹15,020.54 Cr

Total Revenue (TTM)

₹1,160.14 Cr

EBITDA

₹363.64 Cr

Free Cash Flow

₹-600.68 Cr

Operating Cash Flow

₹142.38 Cr

Shares Outstanding

₹13.27 Cr

Gross Margin

48.21%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

21.23%

Profit 5Y

18.94%

Revenue (YoY)

26.10%

Earnings (YoY)

7.80%

PROS

Compounding revenue at 21.2% over 5 years.
Profit CAGR of 18.9% over 5 years.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Trading at a high P/E of 66.2.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Basic Materials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	AETHER Aether Industries Limited NSEINFRA	1,098.00	66.22	₹14,571.44 Cr	-	12.15%	9.38%	21.23%	18.94%
2	ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA	11,482.00	41.32	₹3.38 L Cr	0.67%	11.90%	10.59%	12.40%	17.26%
3	JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA	1,278.00	14.01	₹3.12 L Cr	0.56%	19.15%	27.26%	3.61%	75.28%
4	HINDZINC Hindustan Zinc Limited NSEINFRA	632.95	19.34	₹2.67 L Cr	3.32%	62.35%	76.94%	5.61%	9.58%
5	TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA	208.02	28.34	₹2.59 L Cr	1.92%	11.32%	11.16%	-1.59%	7.21%
6	HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA	1,126.70	18.73	₹2.52 L Cr	0.44%	9.50%	10.29%	7.40%	9.87%
7	GRASIM Grasim Industries Limited NIFTY50NSEINFRA	3,122.40	42.74	₹2.12 L Cr	0.32%	4.00%	6.29%	14.63%	-10.06%
8	SOLARINDS Solar Industries India Limited NSEINFRA	18,247.00	98.04	₹1.65 L Cr	0.06%	29.51%	31.33%	13.27%	30.36%
9	PIDILITIND Pidilite Industries Limited NSEINFRA	1,482.80	61.73	₹1.51 L Cr	0.67%	28.48%	23.52%	7.50%	24.36%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	240.20 Cr	256.14 Cr	275.10 Cr	317.12 Cr	305.12 Cr
Cost of Revenue	-	123.15 Cr	133.63 Cr	142.71 Cr	152.66 Cr	171.89 Cr
Gross Profit	-	117.05 Cr	122.51 Cr	132.39 Cr	164.46 Cr	133.23 Cr
Operating Expenses	-	50.40 Cr	56.02 Cr	60.91 Cr	71.13 Cr	68.97 Cr
Operating Income	-	66.64 Cr	66.49 Cr	71.48 Cr	93.33 Cr	64.26 Cr
EBITDA	-	81.87 Cr	80.63 Cr	94.02 Cr	108.37 Cr	92.57 Cr
Interest Expense	-	5.13 Cr	4.80 Cr	3.23 Cr	3.92 Cr	6.14 Cr
Pretax Income	-	63.73 Cr	61.63 Cr	74.27 Cr	87.17 Cr	68.02 Cr
Tax Provision	-	13.44 Cr	14.61 Cr	20.31 Cr	22.70 Cr	14.01 Cr
Net Income	-	50.30 Cr	47.02 Cr	53.96 Cr	64.48 Cr	54.01 Cr
Diluted EPS	-	3.79	3.55	4.07	4.86	4.07

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	651.07 Cr	598.17 Cr	840.55 Cr	1,160.14 Cr
Cost of Revenue	-	374.37 Cr	372.63 Cr	446.58 Cr	600.89 Cr
Gross Profit	-	276.70 Cr	225.54 Cr	393.96 Cr	559.25 Cr
Operating Expenses	-	113.70 Cr	132.96 Cr	195.94 Cr	262.03 Cr
Operating Income	-	163.00 Cr	92.58 Cr	198.03 Cr	297.22 Cr
EBITDA	-	201.96 Cr	157.26 Cr	270.93 Cr	375.59 Cr
Interest Expense	-	4.24 Cr	8.09 Cr	12.93 Cr	18.09 Cr
Pretax Income	-	174.48 Cr	109.51 Cr	212.98 Cr	291.08 Cr
Tax Provision	-	44.06 Cr	27.02 Cr	54.57 Cr	71.62 Cr
Net Income	-	130.41 Cr	82.49 Cr	158.42 Cr	219.46 Cr
Diluted EPS	8.75	10.47	6.31	11.94	-

Compounded Sales Growth

5 Years:	21.23%
1 Year:	26.10%

Compounded Profit Growth

5 Years:	18.94%
1 Year:	7.80%

Stock Price Performance

1 Year:	+47.19%
6 Months:	+19.45%
3 Months:	+13.39%
1 Month:	-6.00%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	1,379.92 Cr	2,400.74 Cr	2,644.22 Cr	3,201.43 Cr
Current Assets	-	675.17 Cr	1,302.65 Cr	1,138.17 Cr	1,171.47 Cr
Cash & Equivalents	-	70.91 Cr	5.37 Cr	17.37 Cr	5.66 Cr
Inventory	-	248.77 Cr	343.37 Cr	396.87 Cr	537.47 Cr
Receivables	-	258.98 Cr	232.88 Cr	288.62 Cr	390.05 Cr
Total Liabilities	-	135.31 Cr	337.42 Cr	418.33 Cr	745.54 Cr
Current Liabilities	-	94.00 Cr	289.09 Cr	350.70 Cr	657.34 Cr
Long Term Debt	121.81 Cr	0	0	-	-
Total Debt	-	15.71 Cr	183.08 Cr	199.87 Cr	457.94 Cr
Total Equity	-	1,244.61 Cr	2,063.32 Cr	2,225.89 Cr	2,455.89 Cr
Shares Outstanding	-	12.45 Cr	13.26 Cr	13.26 Cr	13.27 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	-6.56 Cr	-16.46 Cr	100.02 Cr	142.38 Cr
Investing Cash Flow	-	-348.36 Cr	-423.93 Cr	-418.47 Cr	-619.38 Cr
Financing Cash Flow	-	439.20 Cr	893.76 Cr	1.25 Cr	243.86 Cr
Capital Expenditure	-	-401.42 Cr	-427.74 Cr	-452.31 Cr	-623.32 Cr
Free Cash Flow	-	-407.98 Cr	-444.20 Cr	-352.29 Cr	-480.93 Cr
Net Change in Cash	-	84.27 Cr	453.37 Cr	-317.20 Cr	-233.13 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	42.5%	37.7%	46.9%	48.2%
Operating Margin %	-	25.0%	15.5%	23.6%	25.6%
Net Margin %	-	20.0%	13.8%	18.8%	18.9%
ROE %	-	10.5%	4.0%	7.1%	8.9%
ROCE %	-	12.7%	4.4%	8.6%	11.7%

Shareholding Pattern

Insiders

76.59%

Institutions

13.73%

Public Float

58.63%

Analyst View

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AETHER · Basic Materials