Aether Industries Limited, India’s leading specialty chemical manufacturer that focuses on advanced intermediates and specialty chemicals, has announced Q3 FY23 revenue from operations stood at Rs. 160 crore in Q1 FY23 as against Rs. 150 crore in Q1 FY22, showing a growth of 6.67%.

The company reported EBITDA at Rs 48.6 crore in Q1 FY23 as compared to Rs. 47.5 crore in Q1 FY22. Profit After Tax reported was at Rs. 30.6 crore in Q1 FY23 as against Rs. 32.3 crore in Q1 FY22.

Revenue from Exports (including deemed exports and SEZ sales) increased by 17% in Q1 FY23 (Rs. 110.7 crore) in comparison with Q1 FY22 (Rs. 94.6 crore). The order book as of June 30, 2022 is Rs. 246 crore, compared to Rs. 229 crore as of June 30, 2021.

The company has been able to increase the share of the Contract Research and Manufacturing Services (CRAMS) segment to 12% of the total revenue from operations which was only 8% till last FY. The company will continue the growth of the CRAMS business and also generate better margins.

Contract Manufacturing has also shown an increasing trend wherein this business has shown 33% of the total revenue which was only 20% in the previous FY.

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 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."

"If we were to speak of the three business models, the sales revenue break-up for the Q1 FY23 looks more interesting with Large Scale Manufacturing contributing 53% (FY22 it was 67%), Contract Manufacturing contributing 33% (FY22 it was 24%) and Contract Research and Manufacturing Services (CRAMS) contributing 12% (FY22 it was 8%) of the revenue from operations. If we were to look at the industry mix, Pharmaceutical accounts for 50.11%, Agrochemical accounts for 33.72 %, High Performance Photography accounts for 7.18 %, Material Sciences accounts for 4.38%, Coatings accounts for 3.74% and others accounts for 0.87% of the revenue from operations in Q1 FY23," commented Desai.

"We started off in 2013 and have done extensive Research & Development in the initial years, which we still continue to do as R&D is the heart of our company. The expenses towards R&D (revenue plus capital) have been increasing year on year in absolute terms and also as a percentage of total revenue, wherein in the Q1 FY23 out of our total revenue 6.90% is spent towards R&D," said Desai.

Our facility 3, greenfield project is very much in line with the timelines and we have started the commissioning of the reactors and other plants and machineries, after the civil work has been completed in June 2022 commented Desai.