Past 10 year's financial track record analysis by Moneyworks4me indicates that Aether Industries Ltd is a average quality company.
The key valuation ratios of Aether Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Aether Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 26.2% | 31.9% | 33.3% | 30.3% | 18.7% | 7.1% | - |
| Value Creation Index ⓘ | 0.9 | 1.4 | 1.5 | 1.2 | 0.4 | -0.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||
| Sales ⓘ | 201 | 302 | 450 | 590 | 651 | 596 | 647 |
| Sales YoY Gr. | - | 50% | 49% | 31.2% | 10.3% | -8.5% | - |
| Adj EPS ⓘ | 2.4 | 4.2 | 6.3 | 9.6 | 10.3 | 7.2 | 6.7 |
| YoY Gr. | - | 74.9% | 50.5% | 51.8% | 7.5% | -30% | - |
| BVPS (₹) ⓘ | 4.1 | 8.3 | 15.7 | 34.3 | 99.8 | 155.7 | 161.4 |
| Adj Net Profit ⓘ | 22.5 | 39.3 | 69.8 | 108 | 128 | 95.3 | 88 |
| Cash Flow from Ops. ⓘ | 22.7 | 17.7 | 23.2 | -5.4 | -6.6 | -2 | - |
| Debt/CF from Ops. ⓘ | 5.6 | 9.6 | 9 | -52.4 | -0 | -65.9 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 24.3% | 9.8% | -8.5% | ||||
| Adj EPS ⓘ | NA | 24.6% | 4.6% | -30% | ||||
| BVPSⓘ | NA | 107.1% | 114.9% | 56% | ||||
| Share Price | - | - | - | -5.6% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 58.4 | 67.4 | 55.3 | 38.4 | 15.7 | 5.8 | 4.2 |
| Op. Profit Mgn % ⓘ | 23.6 | 23.8 | 24.9 | 28.5 | 28.6 | 22.1 | 21.5 |
| Net Profit Mgn % ⓘ | 11.2 | 13 | 15.5 | 18.2 | 19.6 | 16 | 13.7 |
| Debt to Equity ⓘ | 3.3 | 2.2 | 1.2 | 0.7 | 0 | 0.1 | 0 |
| Working Cap Days ⓘ | 0 | 150 | 145 | 194 | 284 | 438 | 422 |
| Cash Conv. Cycle ⓘ | 0 | 88 | 85 | 115 | 175 | 263 | 338 |
No data to display
Return on Equity has declined versus last 3 years average to 4.20%
Sales growth has been subdued in last 3 years 9.81%
Net Profit has been subdued in last 3 years 4.56%
Sales growth is not so good in last 4 quarters at -3.27%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 6.7 | 6.1 |
| TTM Sales (₹ Cr.) | 647 | 652 |
| BVPS (₹.) ⓘ | 161.4 | 160.7 |
| Reserves (₹ Cr.) ⓘ | 2,006 | 1,997 |
| P/BV ⓘ | 5.12 | 5.14 |
| PE ⓘ | 123.81 | 135.59 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 775.00 / 1066.30 |
| All Time Low / High (₹) | 699.85 / 1210.80 |
| Market Cap (₹ Cr.) | 10,947 |
| Equity (₹ Cr.) | 132.6 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 56.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|
| Sales | 201 | 302 | 450 | 590 | 651 | 596 |
| Operating Expenses ⓘ | 154 | 230 | 338 | 422 | 465 | 464 |
| Manufacturing Costs | 27 | 49 | 71 | 94 | 98 | 88 |
| Material Costs | 103 | 146 | 224 | 270 | 296 | 297 |
| Employee Cost | 11 | 13 | 22 | 27 | 34 | 39 |
| Other Costs ⓘ | 14 | 22 | 21 | 31 | 36 | 40 |
| Operating Profit ⓘ | 48 | 72 | 112 | 168 | 186 | 131 |
| Operating Profit Margin (%) | 23.6% | 23.8% | 24.9% | 28.5% | 28.6% | 22.1% |
| Other Income ⓘ | 2 | 2 | 4 | 7 | 17 | 44 |
| Interest ⓘ | 11 | 9 | 11 | 13 | 5 | 9 |
| Depreciation ⓘ | 6 | 8 | 11 | 15 | 23 | 39 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | -14 |
| Profit Before Tax ⓘ | 33 | 57 | 94 | 146 | 174 | 114 |
| Tax ⓘ | 9 | 17 | 23 | 38 | 44 | 26 |
| Profit After Tax | 23 | 40 | 71 | 109 | 130 | 88 |
| PAT Margin (%) | 11.6% | 13.2% | 15.8% | 18.5% | 20.0% | 14.8% |
| Adjusted EPS (₹) | 2.5 | 4.2 | 6.4 | 9.7 | 10.5 | 6.7 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 39 | 78 | 174 | 386 | 1,243 | 2,064 | ||||
| Share Capital ⓘ | 9 | 9 | 10 | 113 | 125 | 133 | ||||
| Reserves ⓘ | 30 | 70 | 164 | 274 | 1,119 | 1,932 | ||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Debt | 126 | 170 | 188 | 256 | 0 | 129 | ||||
| Long Term Debt | 76 | 95 | 104 | 122 | 0 | 0 | ||||
| Short Term Debt | 50 | 75 | 84 | 134 | 0 | 129 | ||||
| Trade Payables | 23 | 38 | 48 | 70 | 82 | 94 | ||||
| Others Liabilities ⓘ | 19 | 13 | 43 | 58 | 55 | 68 | ||||
| Total Liabilities ⓘ | 207 | 300 | 453 | 770 | 1,380 | 2,356 | ||||
Fixed Assets | ||||||||||
| Gross Block | 120 | 150 | 248 | 305 | 717 | 852 | ||||
| Accumulated Depreciation | 13 | 21 | 32 | 48 | 71 | 109 | ||||
| Net Fixed Assetsⓘ | 106 | 129 | 216 | 257 | 646 | 743 | ||||
| CWIP ⓘ | 1 | 17 | 0 | 58 | 37 | 219 | ||||
| Investmentsⓘ | 0 | 0 | 22 | 17 | 1 | 0 | ||||
| Inventories | 40 | 72 | 85 | 163 | 249 | 341 | ||||
| Trade Receivables | 48 | 63 | 108 | 163 | 259 | 230 | ||||
| Cash Equivalents | 1 | 4 | 6 | 18 | 102 | 556 | ||||
| Others Assetsⓘ | 10 | 15 | 16 | 94 | 85 | 267 | ||||
| Total Assets ⓘ | 207 | 300 | 453 | 770 | 1,380 | 2,356 | ||||
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 23 | 18 | 23 | -5 | -7 | -2 |
| PBT ⓘ | 33 | 57 | 94 | 146 | 174 | 114 |
| Adjustment ⓘ | 16 | 18 | 22 | 27 | 20 | 13 |
| Changes in Working Capital ⓘ | -20 | -43 | -73 | -145 | -170 | -112 |
| Tax Paid ⓘ | -6 | -13 | -20 | -34 | -32 | -17 |
| Cash Flow From Investing Activity ⓘ | -13 | -48 | -77 | -151 | -348 | -399 |
| Capex | -12 | -29 | -96 | -53 | -401 | -137 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | -19 | 20 | -98 | 53 | -261 |
| Cash Flow From Financing Activityⓘ | -10 | 33 | 55 | 169 | 439 | 854 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 596 | 733 |
| Net Proceeds from Borrowing ⓘ | -12 | 22 | 43 | 27 | -151 | 0 |
| Interest Paid ⓘ | -11 | -9 | -11 | -13 | -5 | -7 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 13 | 20 | 23 | 155 | -1 | 128 |
| Net Cash Flow ⓘ | 0 | 2 | 2 | 12 | 84 | 453 |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 60.54 | 68.4 | 56.31 | 38.86 | 16.01 | 5.33 | ||||
| ROCE (%) | 26.23 | 31.87 | 33.3 | 30.27 | 18.74 | 7.12 | ||||
| Asset Turnover Ratio | 0.97 | 1.19 | 1.2 | 0.97 | 0.61 | 0.32 | ||||
| PAT to CFO Conversion(x) | 1 | 0.45 | 0.32 | -0.05 | -0.05 | -0.02 | Working Capital Days | |||
| Receivable Days | 87 | 67 | 69 | 84 | 118 | 150 | ||||
| Inventory Days | 72 | 68 | 64 | 77 | 115 | 181 | ||||
| Payable Days | 81 | 76 | 70 | 80 | 93 | 108 | ||||
Aether Industries was incorporated on January 23, 2013, at Surat, Gujarat, India as a public limited company under the Companies Act, 1956 and received the certificate for commencement of business from RoC on March 18, 2013.
Aether Industries is a speciality chemical manufacturer in India focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies. Its business was started in 2013 with a vision to create a niche in the global chemical industry with a creative approach towards chemistry, technology and systems that would lead to sustainable growth. In the first phase of its development through Fiscal 2017, it focused on building its team and infrastructure and on its R&D centred around building its core competencies.
The company is focused on the core competencies model of chemistry and technology. It has three business models under which it operate: (i) large scale manufacturing of its own intermediates and speciality chemicals; (ii) contract research and manufacturing services (CRAMS) and (iii) contract/exclusive manufacturing. It has a nuanced criteria for choosing its products based on their chemical complexity, niche applications, limited competition, scalability and commercial potential. Using these criteria, it developed, and continue to develop, advanced intermediates and speciality chemicals products having applications in the pharmaceutical, agrochemicals, material science, coatings, high performance photography, additives and oil & gas segments of the chemicals industry.
It specializes in products based on an intricate marriage of complex chemistry and technology core competencies. Examples of its chemistry core competencies include Grignards, organolithium and other organometallic chemistry, ethylene oxide and isobutylene chemistry, hydrogenation, catalysis (homogeneous /heterogeneous), cross coupling chemistry and metathesis/polymerization chemistry. Examples of its technology core competencies include continuous reaction technology, high pressure reaction technology, fixed bed reaction technology, distributed control system (DCS) process automation and high vacuum distillation technology (wiped film/short path). By its focus on core competencies, it has have developed a chemistry and technology oriented sales vision, as compared to a product and industry oriented sales vision.
Business area of the company
Aether Industries, based out of Surat (Gujarat, India), focuses on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies. Its products find application in the pharmaceutical, agrochemical, material science, coating, high performance photography, additive, and oil and gas segments of the chemical industry.
Key Awards, Accreditations and Recognition
Major events and milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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