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.” Result PDF
Conference Call with Aether Industries Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Specialty chemicals manufacturer Aether Industries announced Q3FY23 results: Q3FY23: The company has recorded a total revenue of Rs 1,705 million in Q3FY23, which has given growth of 16% compared to Rs 1,466 million in Q2FY23 and growth of 11% YoY (compared to Q3FY22). The company earned an EBITDA of Rs 507 million in Q3FY23, which has increased by 17% (compared to Q2FY23) and increased by 22% (compared to Q3FY22). PAT of Rs 350 million for the company in Q3FY23 has jumped by 38.0% (compared to Q3FY22, which was Rs 254 million) and by 29% (compared to Q2FY23, which was Rs 272 million). Commenting on the results, Aman Desai, Promoter & Whole-time Director, Aether Industries, said, "Aether has executed what it had promised by achieving good growth in Q3, which has been contributed by all our three 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 a few public announcements in this regard which reflect our continuous growth. We remain upbeat and positive about all our business models for future outlook. As in the past quarter, we continue to see a significant upwards trend in inquiries, customer additions, previous contract renewals, and actual business being translated into revenues, especially in the business models of CRAMS and Contract/Exclusive Manufacturing. We have recently launched our site 3. which is a green-field production site for our new products, trial runs have started, and commercial production will also begin in the current month. We will step-wise start-up production of 5 new advanced pharmaceutical intermediates in this new site 3; all 5 products will be manufactured for the first time in India by Aether.” Result PDF
Specialty chemicals company Aether Industries announced Q2FY23 results: The company has recorded a total revenue of Rs 1,466 million in Q2FY23, leading to total revenue of Rs 3,127 million in the H1FY23, which has led to an increase of 6% in the total revenue YoY. The EBITDA remained almost flat YoY from Rs 912 million in H1FY22 to Rs 918 million in H1FY23, thereby resulting in EBITDA margin of 29.4% in H1FY23. PAT increased from Rs 575 million in H1FY22 to Rs 578 million in H1FY23, being almost flat. Revenue for Q2FY23 grew by 1.5% YoY (compared to Q2FY22) from Rs 1,445 million to Rs 1,466 million, but showed a drop by 11.8% compared to Q1FY23, which was envisaged and well-informed by the company in the last quarter also, due to the slowdown in the Pharmaceutical Industry. The company earned an EBITDA of Rs 433 million in Q2FY23 which was down by 0.8% (compared to Q2FY22) and down by 10.9% (compared to Q1FY23). The PAT for the company has been Rs 272 million in Q2FY23 which has increased by 8.0% (compared to Q2FY22) and reduced by 11.1% which is in line with the drop of the revenues (compared to Q1FY23). Commenting on the results, Dr. Aman Desai, Promoter & Whole-time Director, Aether Industries, said, ‘Despite global softening of the overall chemical industry especially the pharmaceutical industry, our company has posted a reasonable quarterly result. As the downward trends stabilise and especially as India continues to be on the forefront of the global CRAMS opportunities, we are significantly optimistic in our overall outlook. We are adding major global customers to our CRAMS list and renewing significant annual contracts. The newly expanded R&D; Centre and pilot plant has been officially inaugurated and is already filling up with new projects across all business models. The Large-Scale Manufacturing business model, despite 2 slow quarters, should soon trend upwards owing to the 5 new products being launched in our upcoming green-field manufacturing site, which is on schedule and on track to stepwise launch by December 2022.” Result PDF
Specialty Chemicals company Aether Industries Announced Q1FY23 Result : Aether industries records 17.7% PAT increase QoQ Revenue from operations stood at Rs. 160 crore in Q1FY23 as against Rs. 150 crore in Q1FY22 EBITDA reported at Rs 48.6 crore in Q1FY23 as compared to Rs. 47.5 crore in Q1FY22 Profit Before Tax stands at Rs 41.2 crore in Q1FY23 as against Rs. 40.4 crore in Q1FY22 Profit After Tax reported was at Rs. 30.6 crore in Q1FY23 as against Rs. 32.3 crore in Q1FY22 EPS stands at Rs. 2.46 (basic) and Rs.2.46 (diluted) Commenting on the results, Dr. Aman Desai, Promoter & Whole-time Director, Aether Industries, said, ‘First Quarter after listing and we are very much satisfied with the results, which we are seeing very much in line with our internal targets for the FY23.We have managed to keep up with the times owing to our distinct strategy, processes, continual investment in R&D;, and development of improved manufacturing platforms.’. Result PDF