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Prices as of 8 Oct 2026 close · Not investment advice

Aether Industries Limited

NSE: AETHERSpecialty Chemicals

Share price

₹1,744.10

-2.43% close of 8 Oct 2026

Market cap ₹23,197 CrP/E 96.7

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 7 Oct 2026, the close above is 8 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

57

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹23,197 Cr

P/E ratio

96.7

P/B ratio

9.4

ROCE

11.9%

ROE

9.7%

Dividend yield

0.0%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹1,799.8052-week low ₹732.60

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 34.4% over the past year, and 17.5% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 27.4% to 31.3% over the last four years.

Whether it grew faster than its sector

It grew 17.5% a year against a sector median of 10.2% — 7.3 percentage points faster.

Room to re-rate, or risk of de-rating

At 96.7× earnings it costs 4.0× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 53.0×, across 5 companies. It is against its own five-year median of 94.3×, the 54th percentile of its own range.

Whether growth justifies the valuation

Priced at 4.8 times its growth rate, on earnings growth of 20%.

Profit growthPrice per ₹1 profitPer 1% growth
Aether Industries Limited — this one20%/yr96.7×₹4.8
Pidilite Industries25%/yr56.2×₹2.2
Gujarat Fluorochemicals Limited-24%/yr79.0×—
Navin Fluorine International Limited21%/yr53.0×₹2.5
Deepak Nitrite Limited-13%/yr27.0×—
Atul Limited9%/yr21.6×₹2.4

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Specialty Chemicals), it ranks 33 of 73 on returns, 15 of 72 on growth, 4 of 73 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 11.9% on capital, ahead of 55% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the last five years it made ₹214 crore of cash from the business but spent ₹2012 crore on plant and equipment, ₹1798 crore more than it made; the gap was from lenders and shareholders. But only about 31 of every 100 rupees of profit it reported over 5 years arrived as cash — the rest is tied up. Its cash comes back more slowly than it used to: it went from being waiting 82 days for its cash to waiting 160 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

6 of 9 checks clear · 67%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Revenue up 28% and margins above the 29-30% guided, but the working-capital and export targets went unmentioned.

Announced 31 Jul 2026 · Consolidated

Revenue

₹327 Cr

Revenue vs last year

+27.6%

Revenue vs last quarter

+7.1%

Net profit

₹63 Cr

Profit vs last year

+33.5%

Profit vs last quarter

+16.2%

Net margin

19.2%

EPS

₹4.77

Earnings call transcript · 31 Jul 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹23,197 Cr
Prev close
₹1,744.10
52w High
₹1,814
52w Low
₹728
Enterprise value
₹23,594 Cr
Beta
0.8
Price CAGR 1y
138.0%
Price CAGR 3y
23.0%
Price CAGR 5y
—
Price CAGR 10y
—

Ratios

Return on assets
6.8%
PEG ratio
4.8
P/E ratio
96.7
P/B ratio
9.4
EV / EBITDA
64.8
Industry P/E
32.7
ROCE
11.9%
ROCE 5y average
11.8%
ROE
9.7%
Debt / Equity
0.2
Interest coverage
17.2
Dividend yield
0.0%
ROE 3y average
8.0%
ROE last year
10.0%

Annual P&L

Annual revenue
₹1,160 Cr
Annual profit
₹219 Cr
Operating margin
31.0%
Net profit margin
18.9%
EBITDA margin
31.4%
Sales growth 3y
21.2%
Sales growth 5y
—
Profit growth 3y
20.0%
Profit growth 5y
—
EPS
₹16.5
Sales growth TTM
34.0%
Profit growth TTM
30.0%
Dividend payout
0.0%

Quarter P&L

Sales latest quarter
₹327 Cr
Profit latest quarter
₹63 Cr
YoY quarterly sales growth
27.2%
YoY quarterly profit growth
34.0%
OPM latest quarter
31.5%

Balance Sheet

Book Value
₹185
Face Value
₹10.0
Total debt
₹458 Cr
Total cash
₹6 Cr
Borrowings
₹458 Cr
Reserves / Equity
17.5

Cash Flow

Operating cash flow
₹142 Cr
Free cash flow
-₹481 Cr
FCF yield
-2.2%
Net cash flow
-₹233 Cr

Shareholding

Promoter holding
74.9%
FII holding
8.5%
DII holding
9.7%
Public holding
6.9%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Pidilite Inds.1,488.5057.31,51,6850.77883.528.24,551.621.331.0
Gujarat Fluoroch4,555.9080.849,8930.07219.021.41,588.024.09.6
Navin Fluo.Intl.8,490.0054.843,5450.18243.3107.71,045.144.121.0
Aether Industri.1,787.6098.923,7240.0062.828.0326.627.311.9
Deepak Nitrite1,553.9026.821,1980.48345.0207.52,577.636.411.4
Aarti Industries491.2534.217,8420.20155.0256.52,387.042.56.9
Atul5,999.5022.217,6600.50253.992.01,848.025.014.9
Median367.3029.71,0980.2413.552.2175.326.413.8

Competes with: Aarti Industries Limited, Aarti Surfactants Limited, Alkali Metals Limited, Alkyl Amines Chemicals Limited, Amal Limited, Anupam Rasayan India Limited, Archean Chemical Industries Limited, Arvee Laboratories (India) Limited, Atul Limited, BASF India Limited, Balaji Amines Limited, Black Rose Inds. Limited, Camlin Fine Sciences Limited, Chembond Chemicals Limited, Chembond Material Technologies Limited, Chemcon Speciality Chemicals Limited, Chemcrux Enterprises Limited, Chemplast Sanmar Limited, Clean Science and Technology Limited, DCM Shriram Fine Chemicals Limited, DMCC SPECIALITY CHEMICALS LIMITED, Dai-Ichi Karkaria Limited, Ddev Plastiks Industries Limited, Deep Polymers Limited, Deepak Nitrite Limited, Diamines & Chemicals Limited, Dynemic Products Limited, Elantas Beck India Limited, Epigral Limited, Excel Industries Limited, Fairchem Organics Limited, Fine Organic Industries Limited, Fineotex Chemical Limited, Foseco India Limited, Galaxy Surfactants Limited, Gem Aromatics Limited, Gujarat Fluorochemicals Limited, HP Adhesives Limited, Hindcon Chemicals Limited, IVP Limited, Indo Amines Limited, Indokem Limited, Ishan Dyes and Chemicals Limited, Jayant Agro Organics Limited, Jubilant Agri and Consumer Products Limited, Jubilant Ingrevia Limited, Jyoti Resins & Adhesives Limited, Kronox Lab Sciences Limited, Laxmi Organic Industries Limited, NOCIL Limited, Navin Fluorine International Limited, Neogen Chemicals Limited, Nitta Gelatin India Limited, Oriental Aromatics Limited, Paushak Limited, Pidilite Industries, Plastiblends India Limited, Platinum Industries Limited, Prasol Chemicals Limited, Privi Speciality Chemicals Limited, Rossari Biotech Limited, S H Kelkar and Company Limited, Styrenix Performance Materials Limited, Sunshield Chemicals Limited, Tatva Chintan Pharma Chem Limited, Valiant Organics Limited, Vidhi Specialty Food Ingredients Limited, Vikas EcoTech Limited, Vinati Organics Limited, Vishnu Chemicals Limited, Vital Chemtech Limited, Yasho Industries Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales161164155118180199220240257280319305327
Expenses116118124107137145155161175192207222224
Material Cost173161159197185
Change in Inventories-50-19-6.70-25-21
Purchases of Stock-in-Trade00000
Employee Cost1113171819
Other Expenses2731363341
Operating Profit4546311043546580818811283103
OPM %2828208.70242729333231352731
Other Income2145498112-16-4108
Exceptional items (within Other Income)-2.85-2.68-2.34-1.330
Interest1224323553466
Depreciation9101010101111131417171821
Profit before tax3749240394961646274876883
Tax %192527486242829212427262125
Net Profit303717-1303543504754645463
EPS in Rs2.252.771.31-0.112.262.633.273.793.554.074.864.074.73
Diluted EPS in Rs3.794.074.864.074.76

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5906515988411,1601,231
Expenses422465466598796845
Material Cost507682
Change in Inventories-61-81
Purchases of Stock-in-Trade00
Employee Cost4363
Other Expenses108133
Operating Profit168186132243364386
OPM %282922293131
Other Income71725281220
Exceptional items (within Other Income)-12-8.98
Interest1359131819
Depreciation152340456674
Profit before tax146174110213291313
Tax %2625252625
Net Profit10913082158219235
EPS in Rs9.67106.22121718
Diluted EPS in Rs1217
Dividend Payout %00000

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
—
5 years
—
3 years
21%
TTM
34%

Compounded profit growth

10 years
—
5 years
—
3 years
20%
TTM
30%

Stock price CAGR

10 years
—
5 years
—
3 years
23%
1 year
138%

Return on equity

10 years
—
5 years
10%
3 years
8%
Last year
10%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital113125133133133
Reserves2741,1201,9312,0932,323
Borrowings29116183200458
Other Liabilities92120154218288
Total Liabilities7701,3802,4012,6443,201
Fixed Assets2576468531,1171,496
CWIP5837232363516
Investments171000
Other Assets4386951,3151,1631,189
Total Assets7701,3802,4012,6443,201

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-5-7-16100142
Cash from Investing Activity-151-348-424-418-619
Cash from Financing Activity1694398941244
Net Cash Flow1284453-317-233
Free Cash Flow-157-363-444-352-481

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days101145142125123
Inventory Days221301411356345
Days Payable9599124114126
Cash Conversion Cycle227348429367341
Working Capital Days82268279239160
ROCE %1871012

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Sep 2026
Line itemDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters828282828282757575757575
FIIs1.972.222.903.173.323.335.034.645.816.297.428.49
DIIs12121212111113131213109.69
Public4.444.163.743.403.413.476.557.396.966.107.176.89
No. of Shareholders84,00078,65571,68367,25166,67764,03472,62873,80667,80665,56265,33670,093

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year +132.6% (₹749.95 → ₹1,744.10)Brick size ₹66.59 (fixed)Bricks 17
₹1,000₹1,500₹1,744Jan '26Jun '26
Price moved up one brickPrice moved down one brickLast close ₹1,744.10 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

exports as % of revenue

29.70

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

84,92,945inr

2026-03-31

News

News and filings about Aether Industries Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • chlorobenzonitrile
  • dichlorotoluene
  • ethylene oxide
  • hydrogen
  • isobutylene gas
  • methanol
  • methylene dichloride (MDC)
  • phenol / crude-oil derivatives
  • tetrahydrofuran (THF)
  • thiophene
  • toluene

Sells to

  • Baker Hughes · specialty chemicals / advanced intermediates under long-term take-or-pay contracts
  • SEQENS · specialty chemicals / advanced intermediates under long-term take-or-pay contracts
  • Saudi Aramco · specialty chemicals / advanced intermediates under long-term take-or-pay contracts

Buys from

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Chemicals
Industry
Specialty Chemicals
Classification
Chemicals › Specialty Chemicals
ISIN
INE0BWX01014

Plants

  • 16 MW solar power plant · Bharuch district, Gujarat
  • Manufacturing Facility 4 / Aether Speciality Chemicals Ltd
  • Manufacturing Facility 5 / Panoli GIDC · Bharuch, Gujarat
  • Manufacturing Site 3 · Surat, Gujarat
  • Manufacturing Site 3+ / 3++ · Surat, Gujarat
  • Site S1 / R&D-CRAMS-Pilot Plant
  • Site S2 / Manufacturing Facility 2 · Surat, Gujarat

News impact

Big market events that reach Aether Industries Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Splits, bonuses & buybacks

  • daily-prices repair: 8 rows from NSE's archive (replace 2, delete 1, insert 5), 2023-11-12..2026-02-01 (docs/flat_day_repair.md)1× · 12 Nov 2023

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.