Aether Industries Ltd share Price Today

Specialty chemicals company Aether Industries announced Q4FY23 & FY23 results:

• The company has recorded a total revenue of Rs 1,844 million in Q4FY23, which has grown by 10% compared to Rs 1,705 million in Q3FY23 and grown by 25% YoY
• The company earned an EBITDA of Rs 602 million in Q4FY23, which has increased by 19% (compared to Q3FY23) and 42% (compared to Q4FY22).
• PAT of Rs 376 million for the company in Q4FY23 has grown by 44.0%, (compared to Q4FY22, which was Rs 260 million) and by 7% (compared to Q3FY23, which was Rs 350 million).
• The top line of the company comprises 52% large-scale manufacturing, 13% CRAMS, and 34% contract/exclusive manufacturing business models, showing an increasing trend in revenues from the CRAMS and contract/exclusive manufacturing business models.
• The revenue, EBITDA, and PAT matrix of Aether Industries, from the financial results of Q4FY23 and FY23, appear to be promising as mentioned below: The company’s sales mix for the 12 months from April 2022 to March 2023 comprises of pharma 42%, agrochemicals 35%, multiple applications 8%, high-performance photography 6%, material science 5%, coatings 3% and others including oil & gas as 1%.
• The company's exports accounted for 69%, which include exports to SEZ and EOU units in India, and domestic sales accounted for 31% of total sales turnover. Exports outside the geography of India accounted for 41% of the total revenue from operations for the 12 months from April 2022 to March 2023.

Commenting on the results, Dr Aman Desai, Promoter & Whole-time Director, Aether Industries, said, “After a slow start in the first two quarters of FY23, Aether really picked up the pace in Q3 and Q4 of FY23 and has executed what it had promised by achieving good growth in Q4, which has been contributed by all our 3 business models. As we see demand improvement in the global chemical industry, we are significantly optimistic about our overall outlook. We have also recently made two major public announcements relating to Otsuka, Japan for the two products to be supplied to these Japanese company on an exclusive basis and Aramco, Saudi Arabia for the converge polyols technology, which reflect our continuous growth. We remain upbeat and positive about all our business models for the future outlook. As in the last two quarters, we continue to see a significant upwards trend in inquiries, customer additions, contract renewals, and business being translated into revenues, especially in the business models of CRAMS and Contract/Exclusive Manufacturing.”

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