Aether Industries Ltd - Stock Valuation and Financial Performance

BSE: 543534 | NSE: AETHER | Chemicals | Small Cap

Aether Industries Share Price

831.10 -1.90 -0.23%
as on 18-May'24 12:50

DeciZen - make an informed investing decision on Aether Industries

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Aether Industries stock performance -

mw4me loader
P/E Ratio (SA):
88.38
Market Cap:
11,013.6 Cr.
52-wk low:
775
52-wk high:
1,210.8

Is Aether Industries Ltd an attractive stock to invest in?

1. Is Aether Industries Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Aether Industries Ltd is a average quality company.

2. Is Aether Industries Ltd undervalued or overvalued?

The key valuation ratios of Aether Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Aether Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Aether Industries Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Aether Industries:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Aether Industries Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 18.2%22.2%24.6%22.2%13.7%-
Value Creation
Index
0.40.60.80.60.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 201302450590651664
Sales YoY Gr.-50%49%31.2%10.3%-
Adj EPS 2.44.26.39.610.39.4
YoY Gr.-74.9%50.5%51.8%7.5%-
BVPS (₹) 4.18.315.734.399.8155.8
Adj Net
Profit
22.539.369.8108128125
Cash Flow from Ops. 22.717.723.2-5.4-6.6-
Debt/CF from Ops. 5.69.69-52.4-0-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANA29.2%10.3%
Adj EPS NANA34.9%7.5%
BVPSNANA129%191.2%
Share Price - - - -9.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
58.467.455.338.415.77.4
Op. Profit
Mgn %
23.623.824.928.528.627.3
Net Profit
Mgn %
11.21315.518.219.618.8
Debt to
Equity
3.32.21.20.70-
Working Cap
Days
0150145194284208
Cash Conv.
Cycle
08885115175178

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 29.21%

Net Profit is growing at healthy rate in last 3 years 34.94%

Return on Equity has declined versus last 3 years average to 7.40%

Sales growth is not so good in last 4 quarters at 8.85%

Latest Financials - Aether Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 9.4 9.2
TTM Sales (₹ Cr.) 664 664
BVPS (₹.) 155.8 155.6
Reserves (₹ Cr.) 1,933 1,930
P/BV 5.33 5.34
PE 88.38 90.66
From the Market
52 Week Low / High (₹) 775.00 / 1210.80
All Time Low / High (₹) 699.85 / 1210.80
Market Cap (₹ Cr.) 11,014
Equity (₹ Cr.) 132.6
Face Value (₹) 10
Industry PE 51

Management X-Ray of Aether Industries:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Aether Industries

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Sales201302450590651
Operating Expenses 154230338422465
Manufacturing Costs2749719498
Material Costs103146224270296
Employee Cost 1113222734
Other Costs 1422213136
Operating Profit 4872112168186
Operating Profit Margin (%) 23.6%23.8%24.9%28.5%28.6%
Other Income 224717
Interest 11911135
Depreciation 68111523
Exceptional Items 00000
Profit Before Tax 335794146174
Tax 917233844
Profit After Tax 234071109130
PAT Margin (%) 11.6%13.2%15.8%18.5%20.0%
Adjusted EPS (₹)2.54.26.49.710.5
Dividend Payout Ratio (%)0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 39781743861,243
Share Capital 9910113125
Reserves 30701642741,119
Minority Interest00000
Debt1261701882560
Long Term Debt76951041220
Short Term Debt5075841340
Trade Payables2338487082
Others Liabilities 1913435855
Total Liabilities 2073004537701,380

Fixed Assets

Gross Block120150248305717
Accumulated Depreciation1321324871
Net Fixed Assets106129216257646
CWIP 11705837
Investments 0022171
Inventories407285163249
Trade Receivables4863108163259
Cash Equivalents 14618102
Others Assets1015169485
Total Assets 2073004537701,380

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 231823-5-7
PBT 335794146174
Adjustment 1618222720
Changes in Working Capital -20-43-73-145-170
Tax Paid -6-13-20-34-32
Cash Flow From Investing Activity -13-48-77-151-348
Capex -12-29-96-53-401
Net Investments 00000
Others 0-1920-9853
Cash Flow From Financing Activity -103355169439
Net Proceeds from Shares 0000596
Net Proceeds from Borrowing -12224327-151
Interest Paid -11-9-11-13-5
Dividend Paid 00000
Others 132023155-1
Net Cash Flow 0221284
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)60.5468.456.3138.8616.01
ROCE (%)26.2331.8733.330.2718.74
Asset Turnover Ratio0.971.191.20.970.61
PAT to CFO Conversion(x)10.450.32-0.05-0.05
Working Capital Days
Receivable Days87676984118
Inventory Days72686477115
Payable Days8176708093

Aether Industries Ltd Stock News

Aether Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Aether Industries on 18-May-2024 12:50 is ₹831.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 18-May-2024 12:50 the market cap of Aether Industries stood at ₹11,013.6.
The latest P/E ratio of Aether Industries as of 18-May-2024 12:50 is 88.38.
The latest P/B ratio of Aether Industries as of 18-May-2024 12:50 is 5.33.
The 52-week high of Aether Industries is ₹1,210.8 and the 52-week low is ₹775.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Aether Industries is ₹664.4 ( Cr.) .

About Aether Industries Ltd

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

  • 2015: Awarded with ISO 9001:2015 (Manufacturing Facility 1 – Hojiwala Unit).
  • 2017: Awarded with ISO 9001:2015.
  • 2017: Awarded with GMP - (ICH Q7 Revision 1).
  • 2018: Awarded with ISO 14001:2015.
  • 2021: Awarded with ISO 27001:2013.
  • 2021: Awarded with ISO 45001:2018.
  • 2022: Silver rating from EcoVadis (Sustainability Rating).
  • 2022: Membership to UN Global Compact (Network India).

Major events and milestones

  • 2013: Incorporation of the Company.
  • 2013: Commencement of R&D operations at Manufacturing Facility 1.
  • 2014: Commenced the Pilot-Plant Operation at Manufacturing Facility 1.
  • 2014: Implementation of the in-house developed web / mobile portal for employees – AIRIS (Aether Integrated Resources Information System).
  • 2014: Implementation of the SAP B-1 ERP System.
  • 2014: The company team grows to over 50 employees.
  • 2015: Acquired land of 10500 Sq. Mtr. at Manufacturing Facility 2 (Plot No. 8203) and commenced the construction for two production facilities.
  • 2015: Company team grows to over 100 employees.
  • 2016: Completed the construction of two production facilities and started commercial production at Manufacturing Facility 2 (Plot No. 8203).
  • 2016: Started commercial production of our signature product 4MEP.
  • 2016: Company team grows to over 200 employees.
  • 2017: Expansion of the QA / QC facility at Manufacturing Facility 1.
  • 2017: Company team grows to over 300 employees.
  • 2018: Achieved the turn-over of Rs 1,000 Million.
  • 2018: Started commercial production of signature product OTBN.
  • 2019: Achieved the turn-over of Rs 2,000 Million.
  • 2019: Added a warehouse at Plot No. 6,714, GIDC Sachin.
  • 2019: Started commercial production of signature product MMBC.
  • 2019: Company team grows to over 400 employees.
  • 2020: Achieved the turn-over of Rs. 3,000 Million.
  • 2020: Pilot plant of the Company was expanded at Manufacturing Facility 1.
  • 2020: Added a unit for expansion of R&D and Pilot Plant at Manufacturing Facility 1.
  • 2020: Commenced the construction of Solvent Recovery Plant at Manufacturing Facility 2.
  • 2020: Implemented in-house developed web-based safety / mobile based safety / security system.
  • 2020: Company team grows to 500 employees.
  • 2021: Achieved the turn-over of Rs. 4,500 Million.
  • 2021: Launched commercial production of BFA.
  • 2021: Added a warehouse at Plot No. 8208, GIDC Sachin.
  • 2021: Acquired land of 5,250 Sq. Mtrs. at Proposed Greenfield Project from GIDC and started construction.
  • 2021: Company team grows to over 700 employees.
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