Aether Industries Ltd.

1,626.6-0.48%

2026-08-21

aether.co.inBSE: 543534NSE: AETHER
Market Cap₹ 21,759 Cr.
Current Price₹ 1,634
High / Low₹ 1,692 / 726
Stock P/E92.5
Book Value₹ 190
Price to Book5.93
Dividend Yield0.00 %
ROCE11.7 %
ROE9.4 %
Face Value₹ 10

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ABOUT

KEY POINTS

PROS

  • Company has consistently been profitable over the last 5 years
  • Latest quarter profit grew 33.5% YoY, showing strong momentum
  • Working capital cycle has improved - days down from 343 to 162
  • Company comfortably covers its interest (17.1x coverage)
  • Company maintains a comfortable, low leverage position

CONS

  • Promoter holding has decreased over last 2 years: -6.9pp
  • Company has a low return on equity of 7.3% over last 3 years
  • Company has a low return on capital employed of 9.4%
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.49x)
  • Free cash flow has been persistently negative
  • Total debt has risen sharply - up 142.0% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
1.SOLARINDS19800.0089.97179170.310.06666.3788.983668.2070.2638.1627.91
2.PIDILITIND1650.0063.40167935.411.308835.101202.8645515.501112.7432.3826.28
3.SRF2575.0035.3176329.390.35758.8775.535033.2634.6314.2124.57
4.FLUOROCHEM4679.5583.5951404.860.06219.0019.021588.0023.9710.0226.83
5.NAVINFLUOR8281.5053.8042484.110.18243.31107.671045.0844.0721.3934.17
6.GODREJIND1217.1034.8740998.140.00523.36-27.855448.0922.1610.6412.82
7.DEEPAKNTR1767.8530.7824112.240.42345.01207.362577.6036.3911.5820.96
8.AETHER1639.4092.5221759.400.0062.7533.45326.5627.4911.6531.47
9.ATUL6581.7524.3619377.830.46253.9391.851847.9525.0315.0521.41
10.AARTIIND526.9035.9919112.070.19155.00260.472387.0042.426.3916.00
11.DEEPAKFERT1474.6518.9818678.340.68490.04100.953256.2622.4712.1225.96
12.BASF3928.8526.4517006.280.64360.29162.224824.2624.5715.2310.46
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023
161
116
Operating Profit
OPM %
Other Income
2
Interest
1
Depreciation
9
37
Tax %
18.50%
Net Profit
0
2
Equity Capital
133
Reserves
1,908
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
1,908
Promoter Pledge %
0.00%
Sep 2023
164
118
Operating Profit
OPM %
Other Income
14
Interest
2
Depreciation
10
49
Tax %
24.73%
Net Profit
0
3
Equity Capital
133
Reserves
1,913
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
1,913
Promoter Pledge %
0.00%
Dec 2023
155
124
Operating Profit
OPM %
Other Income
11
Interest
2
Depreciation
10
24
Tax %
26.83%
Net Profit
0
1
Equity Capital
133
Reserves
1,931
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
1,931
Promoter Pledge %
0.00%
Mar 2024
118
107
Operating Profit
OPM %
Other Income
12
Interest
4
Depreciation
10
0
Tax %
476.32%
Net Profit
0
-0
Equity Capital
133
Reserves
1,931
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
1,931
Promoter Pledge %
0.00%
Jun 2024
180
137
Operating Profit
OPM %
Other Income
12
Interest
3
Depreciation
10
39
Tax %
23.92%
Net Profit
30
2
Equity Capital
133
Reserves
1,967
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
1,967
Promoter Pledge %
0.00%
Sep 2024
199
145
Operating Profit
OPM %
Other Income
11
Interest
2
Depreciation
11
49
Tax %
28.28%
Net Profit
35
3
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Dec 2024
220
155
Operating Profit
OPM %
Other Income
14
Interest
3
Depreciation
11
61
Tax %
29.32%
Net Profit
43
3
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Mar 2025
240
161
Operating Profit
OPM %
Other Income
5
Interest
5
Depreciation
13
64
Tax %
21.09%
Net Profit
50
4
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Jun 2025
256
175
Operating Profit
OPM %
Other Income
3
Interest
5
Depreciation
14
62
Tax %
23.71%
Net Profit
47
4
Equity Capital
133
Reserves
2,141
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
2,141
Promoter Pledge %
0.00%
Sep 2025
275
187
Operating Profit
OPM %
Other Income
9
Interest
3
Depreciation
17
74
Tax %
27.35%
Net Profit
54
4
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Dec 2025
317
207
Operating Profit
OPM %
Other Income
0
Interest
4
Depreciation
17
87
Tax %
26.04%
Net Profit
64
5
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Mar 2026
305
222
Operating Profit
OPM %
Other Income
11
Interest
6
Depreciation
18
68
Tax %
20.60%
Net Profit
54
4
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Jun 2026
327
251
Operating Profit
OPM %
Other Income
8
Interest
6
Depreciation
21
83
Tax %
24.81%
Net Profit
63
0
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
133
Reserves
0
Promoter Pledge %
0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022
590
422
Operating Profit
175
OPM %
30
Other Income
7
Interest
13
Depreciation
15
146
Tax %
26
Net Profit
109
EPS
10
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
10
Minority Interest
0
Share of Associates
0
Adjusted EPS
10
Mar 2023
651
465
Operating Profit
203
OPM %
31
Other Income
17
Interest
5
Depreciation
23
174
Tax %
25
Net Profit
130
EPS
10
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
10
Minority Interest
0
Share of Associates
0
Adjusted EPS
10
Mar 2024
598
466
Operating Profit
171
OPM %
29
Other Income
39
Interest
9
Depreciation
40
110
Tax %
25
Net Profit
82
EPS
6
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
6
Minority Interest
0
Share of Associates
0
Adjusted EPS
6
Mar 2025
839
598
Operating Profit
283
OPM %
34
Other Income
42
Interest
13
Depreciation
45
213
Tax %
26
Net Profit
158
EPS
12
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
12
Minority Interest
0
Share of Associates
0
Adjusted EPS
12
Mar 2026
1,160
797
Operating Profit
385
OPM %
33
Other Income
21
Interest
18
Depreciation
66
291
Tax %
25
Net Profit
219
EPS
17
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
17
Minority Interest
0
Share of Associates
0
Adjusted EPS
17
TTM
1,224
867
Operating Profit
OPM %
Other Income
28
Interest
19
Depreciation
74
313
Tax %
25
Net Profit
235
EPS
Dividend Payout %
Minority Interest
0
Share of Associates
0
Adjusted EPS
Minority Interest
0
Share of Associates
0
Adjusted EPS

COMPOUNDED SALES GROWTH

10 Years:
5 Years:
3 Years:
21%

COMPOUNDED PROFIT GROWTH

10 Years:
5 Years:
3 Years:
19%

STOCK PRICE CAGR

10 Years:
5 Years:
3 Years:
16%
1 Year:
113%

RETURN ON EQUITY

10 Years:
5 Years:
13%
3 Years:
7%
Last Year:
9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

No bonus data found

Mar 2022
Equity Capital
113
274
163
Trade Payables
70
150
Total Liabilities
770
257
Capital Work in Progress
58
17
163
0
Cash & Bank
18
257
Total Assets
770
Total Debt
285
Net Working Capital
168
Contingent Liabilities
7
Book Value per Share
34.28
Face Value
10.00
Total Debt
285
Net Working Capital
168
Contingent Liabilities
7
Book Value per Share
34.28
Face Value
10.00
Mar 2023
Equity Capital
125
1,119
0
Trade Payables
82
55
Total Liabilities
1,380
646
Capital Work in Progress
37
1
249
0
Cash & Bank
102
344
Total Assets
1,380
Total Debt
0
Net Working Capital
581
Contingent Liabilities
8
Book Value per Share
99.83
Face Value
10.00
Total Debt
0
Net Working Capital
581
Contingent Liabilities
8
Book Value per Share
99.83
Face Value
10.00
Mar 2024
Equity Capital
133
1,926
169
Trade Payables
104
70
Total Liabilities
2,401
853
Capital Work in Progress
226
0
343
233
Cash & Bank
556
189
Total Assets
2,401
Total Debt
169
Net Working Capital
1,014
Contingent Liabilities
9
Book Value per Share
155.31
Face Value
10.00
Total Debt
169
Net Working Capital
1,014
Contingent Liabilities
9
Book Value per Share
155.31
Face Value
10.00
Mar 2025
Equity Capital
133
2,087
183
Trade Payables
128
115
Total Liabilities
2,644
1,117
Capital Work in Progress
355
0
397
289
Cash & Bank
240
246
Total Assets
2,644
Total Debt
183
Net Working Capital
787
Contingent Liabilities
14
Book Value per Share
167.38
Face Value
10.00
Total Debt
183
Net Working Capital
787
Contingent Liabilities
14
Book Value per Share
167.38
Face Value
10.00
Mar 2026
Equity Capital
133
2,316
442
Trade Payables
197
114
Total Liabilities
3,201
1,496
Capital Work in Progress
506
0
537
390
Cash & Bank
6
266
Total Assets
3,201
Total Debt
442
Net Working Capital
514
Contingent Liabilities
19
Book Value per Share
0.00
Face Value
10.00
Total Debt
442
Net Working Capital
514
Contingent Liabilities
19
Book Value per Share
0.00
Face Value
10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022
-5
Cash from Investing
-151
Cash from Financing
169
12
Free Cash Flow
-5
OCF / Net Profit
-0.05
Cumulative 5-Year FCF
0
OCF / Net Profit
-0.05
Cumulative 5-Year FCF
0
Mar 2023
-7
Cash from Investing
-348
Cash from Financing
439
84
Free Cash Flow
-398
OCF / Net Profit
-0.05
Cumulative 5-Year FCF
0
OCF / Net Profit
-0.05
Cumulative 5-Year FCF
0
Mar 2024
-16
Cash from Investing
-424
Cash from Financing
894
453
Free Cash Flow
-451
OCF / Net Profit
-0.20
Cumulative 5-Year FCF
0
OCF / Net Profit
-0.20
Cumulative 5-Year FCF
0
Mar 2025
100
Cash from Investing
-418
Cash from Financing
2
-316
Free Cash Flow
-336
OCF / Net Profit
0.63
Cumulative 5-Year FCF
0
OCF / Net Profit
0.63
Cumulative 5-Year FCF
0
Mar 2026
142
Cash from Investing
-619
Cash from Financing
244
-233
Free Cash Flow
-442
OCF / Net Profit
0.65
Cumulative 5-Year FCF
0
OCF / Net Profit
0.65
Cumulative 5-Year FCF
0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022
EPS (₹)
9.67
Book Value (₹)
34.28
Dividend per Share (₹)
0.00
Cash EPS (₹)
11.04
Operating Margin %
29.66%
Net Margin %
18.45%
ROE %
28.20%
ROCE %
23.75%
14.15%
Debtor Days
101
Inventory Days
101
Payable Days
94
107
Debt to Equity (x)
0.74x
Interest Coverage (x)
12.16x
1.69x
Revenue Growth %
0.00%
Operating Profit Growth %
0.00%
Net Profit Growth %
0.00%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2023
EPS (₹)
10.47
Book Value (₹)
99.83
Dividend per Share (₹)
0.00
Cash EPS (₹)
12.34
Operating Margin %
31.15%
Net Margin %
20.03%
ROE %
16.01%
ROCE %
18.74%
12.13%
Debtor Days
118
Inventory Days
115
Payable Days
93
141
Debt to Equity (x)
0.00x
Interest Coverage (x)
35.26x
7.18x
Revenue Growth %
10.34%
Operating Profit Growth %
15.84%
Net Profit Growth %
19.72%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
6.22
Book Value (₹)
155.31
Dividend per Share (₹)
0.00
Cash EPS (₹)
9.22
Operating Margin %
22.08%
Net Margin %
13.77%
ROE %
5.00%
ROCE %
6.79%
4.36%
Debtor Days
150
Inventory Days
180
Payable Days
113
217
Debt to Equity (x)
0.08x
Interest Coverage (x)
13.86x
4.51x
Revenue Growth %
-8.13%
Operating Profit Growth %
-15.46%
Net Profit Growth %
-36.75%
-40.58%
P/E (x)
125.44x
P/B (x)
5.03x
Dividend Yield %
0.00%
58.09x
Mar 2025
EPS (₹)
11.95
Book Value (₹)
167.38
Dividend per Share (₹)
0.00
Cash EPS (₹)
15.34
Operating Margin %
28.74%
Net Margin %
18.88%
ROE %
7.41%
ROCE %
9.74%
6.28%
Debtor Days
113
Inventory Days
161
Payable Days
101
174
Debt to Equity (x)
0.08x
Interest Coverage (x)
17.47x
3.25x
Revenue Growth %
40.21%
Operating Profit Growth %
64.94%
Net Profit Growth %
92.05%
91.99%
P/E (x)
69.53x
P/B (x)
4.96x
Dividend Yield %
0.00%
38.74x
Mar 2026
EPS (₹)
16.54
Book Value (₹)
184.54
Dividend per Share (₹)
0.00
Cash EPS (₹)
21.55
Operating Margin %
31.34%
Net Margin %
18.92%
ROE %
9.40%
ROCE %
11.65%
7.51%
Debtor Days
107
Inventory Days
147
Payable Days
104
150
Debt to Equity (x)
0.18x
Interest Coverage (x)
17.09x
1.78x
Revenue Growth %
38.33%
Operating Profit Growth %
35.98%
Net Profit Growth %
38.53%
38.44%
P/E (x)
66.18x
P/B (x)
5.93x
Dividend Yield %
0.00%
38.90x

Shareholding Pattern

Numbers in percentages

TRADES
Jun 2024
81.79
2.90
11.55
Government
0.00
3.75
Sep 2024
81.79
3.17
11.63
Government
0.00
3.41
Dec 2024
81.77
3.32
11.49
Government
0.00
3.41
Mar 2025
81.77
3.33
11.43
Government
0.00
3.46
Jun 2025
75.00
5.03
13.41
Government
0.00
6.56
Sep 2025
75.00
4.64
12.97
Government
0.00
7.39
Dec 2025
74.98
5.81
12.25
Government
0.00
6.96
Mar 2026
74.95
6.29
12.66
Government
0.00
6.11
Jun 2026
74.93
7.42
10.49
Government
0.00
7.16

Documents

Announcements

  • General Updates

    2026-08-19 - Aether Industries Limited has informed the Exchange about the Business Responsibility and Sustainability Report for the FY 2025-26 is annexed herewith.

  • Shareholders meeting

    2026-08-19 - Aether Industries Limited has informed the Exchange regarding the Notice of the 14th Annual General Meeting of the Company, to be held on Friday, September 11, 2026, is annexed herewith.

Credit Ratings

  • Credit Rating- Revision

    2026-05-26 - In accordance with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we herewith submit the credit rating assigned by M/s. ICRA Limited, received today, as annexed.

Concalls