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In its first release since its listing, Aether Industries has reported robust growth as the stock continues to be profitable to its investors.
For the unversed, Surat-based Aether Industries Limited is a manufacturer of specialty chemicals and advanced intermediates. The company started in 2013 and is one of the fastest specialty chemical companies in India.
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Its products find application in the pharmaceutical, agrochemical, material science, coating, high-performance photography, and oil & gas segments of the chemical industry. It is also a leading Contract Research and Manufacturing Services provider and contract/exclusive manufacturing service provider.
The company's total income registered a growth of 26.8% YoY but declined 3.9% YoY as total income for the quarter ended in March 2022 came in at Rs 147.71 crores. The expenses incurred by the company during the quarter surged 30.7% YoY but were lower sequentially as the cost of raw materials surged 64.23% YoY.
Profit for the quarter stood at Rs 26.02 crores, 13.8% higher than the figure in the corresponding quarter last year. EBITDA during the quarter was Rs 42 crores, up 18.1%. Revenue from exports jumped 52.71% while margins faced a decline of 227 bps as operating margin for the quarter came in at 28.6%.
For the year ended on 31st March 2022, the company's expenses jumped 25.2% while its total income surged 31.6% as the company's existing products saw good demand. Margins of the company improved annually from 24.9% last year to 28.5% in FY22. Profits of the company surged a massive 65.5% YoY as profit for the year was Rs 108.93 crores.
The shares of Aether Industries were listed on 6th June 2022 as it opened at a premium and closed at a 20.67% profit. The share has been trading in the range of Rs 768-812 per share. It has respected the range all this while as it closed today at Rs 770.55, resulting in a listing gain of 20% for its investors.
Article by Aman Agarwal.
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