AETHER · NSE · Specialty Chemicals
Aether Industries Ltd
What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Small Cap · AMFI list Jan-Jun 2026 · Vendor sector: Chemicals
dear
low confidence
No valuation within 120 days; P/E 98.4 vs peers 37.0 (20th of 21); P/B 6.0 vs peers 4.2 (17th of 21).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model
What is Aether Industries's share price today?
Aether Industries last traded at ₹1,779.30 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 1.8% on the day, up 133.8% over a year. Its 52-week range is ₹728 to ₹1,814. The live price is in the app.
₹1,779.30
+1.8% today
+133.8% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
52 month-end closes, 30 Jun 2022 to 30 Sep 2026, adjusted for splits and bonuses
52-week range97% of the way up
Low ₹728High ₹1,814
What is Aether Industries's market cap?
Aether Industries's market capitalisation is about ₹23,202 crore: what it would cost to buy every share at today's price. That makes it the 84th largest small cap company we cover.
₹23,202 Cr
Small Cap84th largest small cap company
Share price₹1,779
×
Shares in issue13 crore
=
Market cap₹23,202 Cr
Small Cap means the companies ranked 251 and below by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →
Key facts
From the exchange
- Symbol
- NSE: AETHER
- ISIN
- INE0BWX01014
- Cap bucket
- Small Cap, 84th largest by market cap
- Industry (NSE)
- Commodities › Chemicals › Chemicals & Petrochemicals › Specialty Chemicals
- Listed since
- 2022
- Futures and options
- Not traded
Is Aether Industries overvalued?
Dear, with low confidence: no valuation within 120 days; P/E 98.4 vs peers 37.0 (20th of 21); P/B 6.0 vs peers 4.2 (17th of 21).
Valuation
Latest price and trailing 12 months
P/E
98.37
vs peers 37.0 · 20th of 21
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B
6.03
vs peers 4.2 · 17th of 21
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap
₹23,202 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield
Not available
Last year's dividends as a share of today's price. Learn more →
PEG (vendor)
21.72
vs peers 2.1 · 16th of 17
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth
6.74
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
Is Aether Industries a quality business?
Quality score 28.6, 19th of 21 in its peer set; WATCH on 30 of 30 flags judged.
Quality and risk
Data as of 12 Oct 2026
Business quality
Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score
28.6
vs peers 54.1 · 19th of 21
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level
WATCH
30 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →
Profitability
ROE
7.5%
vs peers 11.6% · 17th of 21
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE
9.6%
vs peers 14.7% · 18th of 21
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin
18.7%
vs peers 12.2% · 4th of 21
Profit after everything, as a share of revenue. Learn more →
EPS
₹16.54
Trailing 12 months
Profit for each share over the last 12 months.
Inside the app
Get a sneak peek of Valarth
Has Aether Industries made money for shareholders?
Yes: +133.8% over one year.
Shareholder returns
5-year return
Not available
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer
Not available
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →
Returns
3Y and 5Y are yearly averages
1W
+5.2%1M
+10.4%3M
+20.3%6M
+47.5%1Y
+133.8%3Y
+24.5%5Y
—— not available
Is Aether Industries growing?
Revenue 3 years 20.9% a year; profit 3 years 18.9% a year; revenue 5 years 16.0% a year.
Growth
Statements through FY2026 (Mar-26)
Revenue 3 years
20.9% a year
vs peers 5.3% · 1st of 20
Compound annual growth of revenue over three years. Learn more →
Profit 3 years
18.9% a year
vs peers -5.3% · 4th of 20
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years
16.0% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years
16.6% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years
14.6% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years
Not available
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history
23.3%
vs peers -0.2% · 14th of 18
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →
How did Aether Industries do last quarter?
Aether Industries reported revenue of ₹327 Cr, up 38.0% on a year earlier and a net profit of ₹63 Cr, up 38.5% in the Jun 2026 quarter.
Latest quarter
Jun 2026
Revenue, latest quarter₹327 Cr
+38.0% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹63 Cr
+38.5% on a year earlier
What was left for shareholders after every cost and tax.
How does Aether Industries compare with its peers?
Compared with 20 Specialty Chemicals; 20th of 21 on P/E; 19th of 21 on quality score.
Compared with 20 Specialty Chemicals
20 companies
- Aether Industries Ltd (this page)
- SRF Ltd
- Gujarat Fluorochemicals Ltd
- Navin Fluorine International Ltd
- Deepak Nitrite Ltd
- Atul Ltd
- Aarti Industries Ltd
- Fine Organic Industries Ltd
- BASF India Ltd
- Privi Speciality Chemicals Ltd
- Anupam Rasayan India Ltd
- Sudeep Pharma Ltd
- Vinati Organics Ltd
- Elantas Beck India Ltd
- Jubilant Ingrevia Ltd
- Alkyl Amines Chemicals Ltd
- Galaxy Surfactants Ltd
- Clean Science & Technology Ltd
- Neogen Chemicals Ltd
- Fineotex Chemical Ltd
- Balaji Amines Ltd
Aether Industries against its peers
Largest 10 of 20 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
Aether Industries Ltd₹23,202 Cr98.46.07.5%9.6%+133.8%
Gujarat Fluorochemicals Ltd₹49,178 Cr80.44.710.0%12.0%+21.6%
Atul Ltd₹17,319 Cr21.83.110.3%13.1%−1.9%
Aarti Industries Ltd₹16,692 Cr31.42.47.3%6.8%+20.5%
Fine Organic Industries Ltd₹16,589 Cr37.94.814.6%20.1%+18.7%
BASF India Ltd₹14,489 Cr22.53.510.9%14.3%−26.2%
Privi Speciality Chemicals Ltd₹13,375 Cr38.27.928.2%26.2%+33.2%
Anupam Rasayan India Ltd₹12,892 Cr73.64.35.3%6.9%+3.3%
Peer median—37.04.211.6%14.7%+15.9%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.
Who owns Aether Industries?
Aether Industries is held by promoters 74.9%, foreign institutions 7.4%, domestic institutions 10.5%.
Shareholding pattern
Latest filing, percent of shares
Promoters74.9%
The founders and controlling group.
Foreign institutions7.4%
Overseas funds investing through the FPI route.
Domestic institutions10.5%
Indian insurers, banks, pension and mutual funds together.
Mutual funds9.7%
Indian mutual fund schemes; part of domestic institutions.
Retail and others4.2%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.
What do analysts say about Aether Industries?
7 analysts cover Aether Industries, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.
Analyst consensus
7 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.
What does Aether Industries do and what is it sensitive to?
Aether Industries Limited manufactures advanced intermediates and specialty chemicals and sells them on a B2B basis to pharmaceutical, agrochemical, materials science, oil & gas and other chemical-industry clients. Sensitive to: USD/INR exchange rate.
Business-model card
FY2025 · 44 verified
4Revenue
5Channels
1Regulators
4Reg. dependencies
5Sensitivities
5Costs
6Geographies
Aether Industries Limited manufactures advanced intermediates and specialty chemicals and sells them on a B2B basis to pharmaceutical, agrochemical, materials science, oil & gas and other chemical-industry clients. It earns revenue through large-scale manufacturing, contract/exclusive manufacturing and contract research and manufacturing services (CRAMS), with exports making up a large share of turnover.
Revenue by segment
Consolidated, year ended March 31, 2025 (Revenue by Business Classification, consolidated financial statements)
Large Scale Manufacturing (LSM)55.1%
Contract / Exclusive Manufacturing (CEM)31.4%
Contract Research and Manufacturing Services (CRAMS)12.3%
Others1.3%
Revenue engine
4 verified
Large Scale Manufacturing (LSM)
Largest revenue line in the business-classification table: ₹4,623.54 MM in FY2025 (standalone), against ₹3,539.49 MM in FY2024. Interpretation: revenue from specialty chemicals produced at the company's own plants.
Contract / Exclusive Manufacturing (CEM) (31.4%)
Manufactures customers' products under a contractual supply agreement model, with short-term and long-term, exclusive and non-exclusive arrangements. Share of revenue from operations stated as 31.36% for FY2025. The standalone CEM figure is ₹2,128.36 MM; the consolidated figure is ₹2,630.07 MM.
Contract Research and Manufacturing Services (CRAMS)
Revenue line within the three business models, ₹1,027.54 MM in FY2025 (standalone), against ₹826.61 MM in FY2024.
1 more statement
Pharmaceuticals (product segment)
Largest product-segment line by revenue share in FY25; its share fell from 50.8% in FY24 to 45.6% in FY25 while absolute revenue rose.
Customers & channels
5 verified
Long-term supply contracts with formula-based pricing
Supply contracts last three to five years and use formula-based pricing; they can end on expiry or on customer notice, and the excerpt states that termination could adversely affect the business. Other customers order by purchase order with unit prices and delivery schedules.
Customer base of multinational, global, regional and local companies
Over 280 customers in total; more than 50 global customers across 19 countries and over 210 domestic customers as of March 31, 2025.
Export customers (43.4%)
Export sales (excluding deemed exports) were 43.42% of revenue from operations in FY2025, against 41.76% in FY2024. Export revenue is predominantly invoiced in foreign currency, mainly USD.
2 more statements
B2B clients in the chemical industry
The company operates in the B2B sector and serves multinational, regional and domestic companies in pharmaceuticals, agrochemicals, materials science, oil & gas and textiles.
Exclusive distributor in Telangana
Sales in the Telangana region of India go through one exclusive distributor.
Regulators
1 verified
Foreign Exchange Management Act, 1999 (FEMA)
Named in the excerpt as applying to foreign direct investment, overseas direct investment and external commercial borrowings. Interpretation: it governs the company's foreign-currency borrowing and capital flows.
Regulatory dependencies
4 verified
Production Linked Incentive (PLI) scheme
Named as a government policy that promotes manufacturing competitiveness and investment in high-value chemicals. Interpretation: a change to PLI support would move the company's incentive income, but the excerpts do not quantify its effect on revenue or cost.
Export incentives under government schemes
Recognised as income only when there is no significant uncertainty about the amount and the company will comply with the grant conditions. Interpretation: a change to notified schemes or their conditions would change this income line.
Government grants and subsidies
Grants that compensate expenses are booked as other operating income in the period the expenses are recognised. Interpretation: a withdrawal of grants would reduce other operating income.
1 more statement
Board borrowing authority capped at ₹1,000 Crore
The resolution allows borrowings up to an aggregate of ₹1,000 Crore, even above paid-up capital plus free reserves. Interpretation: this limit caps debt capacity under this resolution.
Sensitivities
5 verified
USD/INR exchange rate
Export revenue is mainly in USD, so the rupee value of sales moves with the exchange rate. The company hedges only a minimal part of its net FX position. Interpretation: a weaker rupee raises reported rupee revenue and a stronger rupee lowers it.
Interest rates on floating-rate borrowings
Debt is mostly floating-rate. Variable-rate borrowings were ₹1,197.31 MM at March 31, 2025 (standalone). A 50 basis point increase reduces profit before tax by ₹5.99 MM; a decrease raises it by the same amount.
Raw material prices
Raw material prices are volatile globally, and increases flow directly into production costs. Interpretation: a rise in input prices raises costs; a fall lowers them.
2 more statements
Pass-through of raw material price changes to customers
Raw material prices are generally linked to international prices and fluctuations are typically passed on to customers. Interpretation: pass-through timing and terms are not stated in the excerpt.
Product prices linked to raw material costs
Specialty chemical prices track raw material costs and are therefore exposed to market volatility, which gives customers limited to moderate bargaining power.
Cost inputs
5 verified
Raw materials from third-party suppliers
Raw materials are predominantly sourced from third-party suppliers both globally and within India. Key inputs include crude oil derivatives such as phenol, hydrogen, ethylene oxide and isobutylene gas.
Cost of materials consumed (60.5%)
Cost of materials consumed was 60.48% of revenue from operations in FY2025, against 63.09% in FY2024.
Crude oil derivatives
Raw materials include crude oil derivatives such as phenol. Interpretation: these tie input cost to crude-linked petrochemical prices.
2 more statements
Short-term sourcing of raw materials
The company does not typically hold long-term supply contracts with raw material suppliers and buys through shorter-term contracts or on the open market.
Electricity expenses
Recorded as an administrative expense of ₹172.01 MM in FY2025 (consolidated), against ₹135.11 MM in FY2024, alongside power and fuel under manufacturing service costs.
Geographies
6 verified
India, the home base (60.5%)
Domestic market, including deemed exports, is described as integral to growth and as the largest geography in the excerpts.
Asia-Pacific (4.4%)
Supply partnerships in Japan and emerging opportunities in South Korea, Taiwan and China. Its share of revenue fell from 5.31% in FY2024 to 4.43% in FY2025.
China (1.6%)
Revenue from China grew, from 0.75% of revenue in FY2024 to 1.59% in FY2025.
3 more statements
Rest of the World, including Africa
Expansion into high-growth developing markets for performance materials and custom synthesis products. The entry into the African region is noted for FY2025.
Export markets including Italy, Spain, Germany, the US and the Netherlands
Products are exported to 19 countries, with Italy, Spain, Germany, the United States and the Netherlands named as notable markets.
Surat manufacturing hub
Surat facilities are used to serve international customers, with the company citing consistency in quality, compliance and timely deliveries.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.
What changed recently?
Q1 FY2027 results filed (31 Jul 2026).
Change log
6 entries · newest first
- Results filedQ1 FY2027 results filed.
- Results filedQ4 FY2026 results filed.
- Results filedQ3 FY2026 results filed.
- Results filedQ2 FY2026 results filed.
- Results filedQ4 FY2025 results filed.
- Results filedQ1 FY2026 results filed.
Get alerts →Sign in to be told when any of these change.
What this page does not tell you
What could not be judged, and why. Never empty.
- Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
- FlagsWATCH on 30 of 30 flags judged; 2 red.
- Data gapsDividend yield, Business quality, 5-year return, Wealth destroyer, EPS 5 years: not available yet.
What this page rests on
✓5 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓52 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2025 · 44 verified
Questions people ask
What is Aether Industries's share price today?
Aether Industries last traded at ₹1,779.30 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 1.8% on the day, up 133.8% over a year. Its 52-week range is ₹728 to ₹1,814. The live price is in the app.
What is Aether Industries's market cap?
Aether Industries's market capitalisation is about ₹23,202 crore: what it would cost to buy every share at today's price. That makes it the 84th largest small cap company we cover.
Is Aether Industries Ltd a large cap, mid cap or small cap?
Aether Industries Ltd (AETHER) is a small cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.
What is Aether Industries Ltd's P/E ratio?
98.37, vs peers 37.0 · 20th of 21. Price divided by last year's earnings per share: how many years of today's profit you pay for.
Is Aether Industries Ltd overvalued?
Dear, with low confidence: no valuation within 120 days; P/E 98.4 vs peers 37.0 (20th of 21); P/B 6.0 vs peers 4.2 (17th of 21).
How does Aether Industries Ltd make money?
Aether Industries Limited manufactures advanced intermediates and specialty chemicals and sells them on a B2B basis to pharmaceutical, agrochemical, materials science, oil & gas and other chemical-industry clients. It earns revenue through large-scale manufacturing, contract/exclusive manufacturing and contract research and manufacturing services (CRAMS), with exports making up a large share of turnover.
Who are Aether Industries Ltd's peers?
Compared with 20 Specialty Chemicals: SRF Ltd, Gujarat Fluorochemicals Ltd, Navin Fluorine International Ltd, Deepak Nitrite Ltd, Atul Ltd and 15 more. The app shows how they compare on every figure.
Is this investment advice?
No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.
How did Aether Industries do last quarter?
Aether Industries reported revenue of ₹327 Cr, up 38.0% on a year earlier and a net profit of ₹63 Cr, up 38.5% in the Jun 2026 quarter.
Who owns Aether Industries?
Aether Industries is held by promoters 74.9%, foreign institutions 7.4%, domestic institutions 10.5%.
What do analysts say about Aether Industries?
7 analysts cover Aether Industries, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.