Small Chemicals

Aether Industries Ltd.

AETHER

₹814.5

3.11% (24.55)

Market Cap

₹10,470 Cr.

P/E

66.09

Aether Industries Ltd.
Overview
Financials
Benchmarking
Shareholding

Aether Industries Ltd.

Aether Industries Ltd.
Overview
Financials
Benchmarking
Shareholding

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on Aether Industries Ltd. Shareprice

Has the share price of Aether Industries grown faster than its competition?

Aether Industries has given lower returns compared to its competitors.
Aether Industries has grown at ~-7.83% over the last 2yrs while peers have grown at a median rate of 29.33%

Is Aether Industries stock expensive?

Aether Industries is not expensive.
Latest PE of Aether Industries is 66.09, while 3 year average PE is 106.
Also latest EV/EBITDA of Aether Industries is 43.18 while 3yr average is 68.09.

View FAQ's On Business

Growth Table

Aether Industries Ltd.
Acutaas Chemicals
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Supriya Lifescience
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	-1.26	-7.83	-0.05	—	—	—	—	—	—	—
TTM EPS CAGR	95.06	7.12	28.06	—	—	—	—	—	—	—
Sales CAGR	40.21	13.50	12.44	64.08	—	—	—	—	—	—
PAT Margin (Abs Growth)	-6.26	-4.68	-2.03	0.53	2.17	—	—	—	—	—
PE CAGR	-49.38	-13.96	-21.95	—	—	—	—	—	—	—
CFO CAGR	151	73.91	—	—	—	—	—	—	—	—

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

Aether Industries Ltd.
Acutaas Chemicals
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Supriya Lifescience
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In Rs. Cr.	Mar'22	Mar'23	Mar'24	Mar'25
Assets	770	1,380	2,401	2,644
Non Current Assets	346	678	1,062	1,506
Net Block	257	646	853	945
Capital Work in Progress	57.74	37.17	232	355
Intangible Assets Under Development	—	—	6.13	7.96
Long Term Investments	0.21	0.21	0.21	0.21
Current Assets	410	675	1,303	1,138
Inventory	163	249	343	397
Accounts Receivable	163	259	233	289
Short Term Investments	17.01	1.00	—	—
Cash & Bank Balances	18.02	102	556	240
Liabilities	770	1,380	2,401	2,644
Shareholders Funds	387	1,245	2,063	2,226
Share Capital	113	125	133	133
Reserves	274	1,119	1,926	2,093
Non Current Liabilities	141	41.31	48.33	67.63
Secured Loans	122	—	—	—
Unsecured Loans	—	—	—	—
Current Liabilities	242	94.00	289	351
Accounts Payable	69.85	81.52	104	128
Short Term Loans	134	—	169	183

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

Aether Industries Ltd.
Acutaas Chemicals
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Supriya Lifescience
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In Rs. Cr.	Mar'22	Mar'23	Mar'24	TTM
Sales	590	651	598	839
Operating Expenses	422	465	466	598
Raw Material	340	359	355	507
Material Cost (%)	45.75	45.50	49.95	53.25
Employee Cost	27.05	34.46	38.63	42.80
Power & Fuel Cost	52.65	56.39	41.60	—
Operating Profit	168	186	132	241
Other Income	6.97	16.57	39.21	41.64
OPM (%)	28.49	28.61	22.11	28.75
Depreciation and Amortisation	15.49	23.25	39.66	45.02
Interest	13.12	5.09	8.52	12.93
Profit Before Tax	146	174	110	213
Tax	37.54	44.06	27.02	54.57
Net Profit	109	130	82.49	158
Number of shares(Crs)	—	12.45	13.26	—
Dividend Payout Ratio(%)	0.00	0.00	0.00	—

TTM Values as of Mar 2025

Cash Flow

Aether Industries Ltd.
Acutaas Chemicals
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Supriya Lifescience
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In Rs. Cr.	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	-5.44	-6.56	-16.46	100
Profit Before Tax	146	174	110	213
Adjustments	27.09	20.44	18.47	22.24
OCF Before Working Capital	174	195	128	235
Working Capital Changes	-145	-170	-127	-97.12
Taxes Paid	-33.84	-31.78	-17.29	-38.02
Cash from Investing Activity	-151	-348	-424	-418
Net Fixed Assets Purchased	-52.77	-401	-248	-304
Fixed Assets Purchased	-52.77	-401	-248	-304
Fixed Assets Sold	—	—	—	—
Investment Purchased	—	—	—	—
Investment Sold	—	—	—	—
Interest Recieved	—	—	—	—
Dividends Recieved	—	—	—	—
Subsidiary Investments	—	—	—	—
Cash from Financing Activity	169	439	894	1.92
Proceeds From Shares	—	596	733	—
Net Long Term Borrowings	26.76	-151	0.00	0.00
Proceeds From Borrowings	26.76	—	—	—
Repayment From Borrowings	—	-151	—	—
Interest Paid	-13.12	-5.09	-6.95	-10.40
Dividend Paid	—	—	—	—
Net Cash Flow	12.45	84.27	453	-316
Opening Cash & Cash Equivalents	5.56	18.02	102	556
Effect of FX	—	—	—	—
Closing Cash & Cash Equivalents	18.02	102	556	240
Net Capex (est)	52.77	401	248	304
Free Cash Flow (est)	-58.21	-408	-265	-204

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

Aether Industries Ltd.
Acutaas Chemicals
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Supriya Lifescience
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	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	1.02	4.54	3.32
Liquid Assets (Crs)	247	426	959
Current Liabilities (Crs)	242	94.00	289
Current Ratio	1.69	7.18	4.51
Current Assets (Crs)	410	675	1,303
Current Liabilities (Crs)	242	94.00	289
Interest Coverage Ratio	12.16	35.26	13.86
EBIT (Crs)	160	180	132
Interest Expenses (Crs)	13.12	5.09	8.52
Fixed Asset Turnover	1.94	0.91	0.62
Net Sales (Crs)	590	651	598
Fixed Assets (Crs)	305	717	963
Cash Conversion Cycle	107	141	217
Inventory Days	101	115	180
Days Receivable	101	118	150
Days Payable	94.44	93.25	113
Debt to Equity Ratio	0.74	0.00	0.08
Total Debt (Crs)	285	0.11	169
Shareholders Equity (Crs)	387	1,245	2,063
Free Cash Flow/Sales (%)	-9.86	-62.66	-44.26
Free Cash Flow(est) (Crs)	-58.21	-408	-265
Net Sales (Crs)	590	651	598
Profitability Ratios
Gross Margin (%)	54.25	54.50	50.05
Op Profit Margin (%)	28.49	28.61	22.11
Operating Profit (Crs)	175	203	171
Net Sales (Crs)	590	651	598
Net Profit Margin (%)	18.46	20.03	13.79
Net Profit (Crs)	109	130	82.49
Net Sales (Crs)	590	651	598
ROCE (%)	30.25	13.96	6.24
EBIT (Crs)	160	180	132
Capital Employed (Crs)	528	1,286	2,112
Return on Assets (%)	14.15	9.45	3.44
Net Profit (Crs)	109	130	82.49
Total Assets (Crs)	770	1,380	2,401
ROIC (%)	24.44	10.48	4.52
Op Profit after Taxes (Crs)	114	122	69.74
Invested Capital (Crs)	464	1,162	1,544
ROE (%)	28.16	10.48	4.00
Net Profit Margin (%)	18.46	20.03	13.79
Asset Turnover ratio	0.77	0.47	0.25
Equity Multiplier	1.99	1.11	1.16
Adjusted EPS	9.67	10.47	6.22
Valuation Ratios
P/E	0.00	89.52	125
Price to Book	0.00	9.39	5.03
EV/EBITDA	2.17	57.06	58.09
Dividend Yield (%)	—	0.00	0.00

Quarterly Results

Aether Industries Ltd.
Acutaas Chemicals
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Supriya Lifescience
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	167	184	161	164	155	118	180	199	220	240
Operating Expenses	120	124	116	118	124	107	137	145	155	161
Increase/Decrease in Stock	-29.15	-4.15	-27.42	-24.60	-3.06	-1.42	4.63	-1.08	-14.58	-49.58
Raw Material	108	91.23	104	101	94.30	78.18	97.81	108	129	173
Employee Cost	9.32	9.01	8.55	11.53	9.20	11.58	10.52	9.92	11.62	10.73
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	47.30	59.63	44.72	45.98	31.33	10.22	43.16	53.63	64.71	79.65
Other Income	3.40	0.59	2.26	14.14	11.26	11.55	11.96	10.97	13.64	5.07
Interest	0.44	1.17	1.17	1.64	2.06	3.65	2.63	1.96	3.21	5.13
PBDT	50.26	59.05	45.81	58.47	34.15	10.74	49.49	59.32	72.45	76.74
Depreciation and Amortization	6.40	6.89	9.23	9.74	10.33	10.37	10.15	10.80	11.06	13.01
Profit Before Tax	43.86	52.15	36.59	48.73	23.82	0.38	39.34	48.52	61.39	63.73
Tax	8.83	14.60	6.77	12.05	6.39	1.81	9.41	13.72	18.00	13.44
Profit After Tax	35.04	37.56	29.81	36.68	17.43	-1.43	29.93	34.80	43.39	50.30
Exceptional Items	0.00	0.00	0.00	0.00	-6.37	-7.39	-3.00	-3.33	-2.69	-2.85
Net Profit	35.04	37.56	29.81	36.68	17.43	-1.43	29.93	34.80	43.39	50.30
Quarterly Ratios
EPS	2.81	3.02	2.25	2.77	1.31	-0.11	2.26	2.63	3.27	3.79
Operating Profit Margin	28.30	32.45	27.76	28.00	20.16	8.70	23.98	26.98	29.46	33.16
Net Profit Margin	20.96	20.44	18.51	22.34	11.22	-1.22	16.63	17.50	19.75	20.94

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

65.80%

Implied Growth Rate over a 5 year period*

25.00%

Implied Growth Rate over a 10 year period*

11.50%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on Aether Industries Ltd. Financials

How strong is Aether Industries balance sheet?

Balance sheet of Aether Industries is strong.
It shouldn't have solvency or liquidity issues.

Is the debt of Aether Industries increasing or decreasing?

Yes, The net debt of Aether Industries is increasing.
Latest net debt of Aether Industries is -₹57.25 Crs as of Mar-25.
This is greater than Mar-24 when it was -₹942.56 Crs.

Is the profitablity of Aether Industries improving?

The profit is oscillating.
The profit of Aether Industries is ₹158 Crs for TTM, ₹82.49 Crs for Mar 2024 and ₹130 Crs for Mar 2023.

Does Aether Industries pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Aether Industries latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

How has Aether Industries allocated its funds?

Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments

View FAQ's On Shareholding

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Aether Industries Ltd.

Aether Industries Ltd.

Has the share price of Aether Industries grown faster than its competition?

Is Aether Industries stock expensive?

How strong is Aether Industries balance sheet?

Is the debt of Aether Industries increasing or decreasing?

Is the profitablity of Aether Industries improving?

Does Aether Industries pay decent dividends?

How has Aether Industries allocated its funds?

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