Aether renews long-term agreement for two products

This renewed contract will enable Aether to add to their topline by approximately Rs. 100 crore in FY23

Aether Industries Limited, one of the fastest growing specialty chemical companies in India, have renewed a long-term agreement for two products being supplied to a leading global agrochemical innovator customer, post three years of successful supply under Exclusive/Contract Manufacturing business model.

The renewal is as per a clause of automatic renewal every year, post completion of the original contract duration of three years, agreed upon by the parties in the long-term agreement signed three years ago.

This renewed contract will enable Aether to add to their topline by approximately Rs. 100 crore in FY23.

These two products were developed by Aether initially under the CRAMS (Contract Research and Manufacturing Services) business model and were subsequently transferred to the Exclusive/Contract Manufacturing business model by the customer. With more than five years of business relations across various projects in both the CRAMS and Exclusive/Contract Manufacturing business models, Aether foresees continuous growth in their business with this leading global agrochemical innovator customer.

Speaking about the development, Dr. Aman Desai, Promoter and Whole Time Director, Aether Industries said, “The renewal of this contract is a significant achievement for us and further strengthens our relationship with this global innovator agrochemical company. This renewal will also make a substantial contribution to our Exclusive/Contract Manufacturing business model revenues in the current fiscal year itself.”