Aether Industries Ltd. (IN:AETHER)
:AETHER
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Aether Industries Ltd.
(AETHER)
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Rating:55Neutral
Price Target:
₹1,122.00
▲(18.51% Upside)
Action:Downgraded
Date:05/20/26
The score is primarily constrained by weak cash generation (persistently negative free cash flow and low cash conversion) despite solid reported profitability and improving revenue growth. Technicals add a modest headwind due to near-term weakness below key short-term averages, and valuation is a further drag given the high P/E without dividend support.
Positive Factors
Diversified end markets & proprietary tech
Serving pharmaceuticals, agrochemicals, materials and coatings with proprietary chemistry gives Aether structural demand diversification and stronger customer stickiness. Broad end markets reduce single-sector cyclicality and support durable revenue streams from long product lifecycles and repeat B2B contracts.
Negative Factors
Negative free cash flow & weak cash conversion
Persistently negative free cash flow and low operating-cash-to-net-income (≈0.20 in FY2026) indicate earnings are not converting to cash. This structural cash-generation weakness constrains self-funded growth, increases reliance on external financing, and elevates execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified end markets & proprietary tech
Serving pharmaceuticals, agrochemicals, materials and coatings with proprietary chemistry gives Aether structural demand diversification and stronger customer stickiness. Broad end markets reduce single-sector cyclicality and support durable revenue streams from long product lifecycles and repeat B2B contracts.
Read all positive factors
Aether Industries Ltd. (AETHER) vs. iShares MSCI India ETF (INDA)
Market Cap
₹143.61B
Dividend YieldN/A
Average Volume (3M)18.17K
Price to Earnings (P/E)66.1
Beta (1Y)0.58
Revenue Growth37.53%
EPS Growth38.70%
CountryIN
Employees970
SectorTechnology
Sector Strength88
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)14.67
Shares Outstanding132,708,900
10 Day Avg. Volume2,570
30 Day Avg. Volume18,170
Financial Highlights & Ratios
PEG Ratio1.72
Price to Book (P/B)5.91
Price to Sales (P/S)12.51
P/FCF Ratio-29.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)22.62
Revenue Forecast (FY)₹15.17B
Aether Industries Ltd. Business Overview & Revenue Model
Company Description
Aether Industries Limited manufactures and sells advanced intermediates and specialty chemicals in India and internationally. The company offers 4-(2-Methoxyethyl) phenol (4MEP), N-Octyl-D-glucamine/1- deoxy-1-(Octylamino)-DGlucitol (NODG), ortho ...
How the Company Makes Money
Aether Industries generates revenue primarily by manufacturing and selling specialty chemicals and intermediates to businesses across various sectors including pharmaceuticals, agrochemicals, material sciences, and coatings. The company earns reve...
Aether Industries Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
29
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.93B | 11.60B | 8.41B | 6.00B | 6.54B | 5.93B |
| Gross Profit | 4.75B | 4.30B | 3.89B | 2.75B | 3.34B | 3.01B |
| EBITDA | 3.14B | 3.64B | 2.39B | 1.30B | 1.87B | 1.70B |
| Net Income | 1.95B | 2.19B | 1.58B | 824.90M | 1.30B | 1.09B |
Balance Sheet | ||||||
| Total Assets | 28.49B | 32.01B | 26.44B | 24.01B | 13.80B | 7.70B |
| Cash, Cash Equivalents and Short-Term Investments | 566.57M | 56.63M | 2.40B | 5.56B | 1.04B | 352.61M |
| Total Debt | 2.15B | 4.58B | 2.00B | 1.83B | 157.14M | 2.91B |
| Total Liabilities | 5.21B | 7.46B | 4.18B | 3.37B | 1.35B | 3.83B |
| Stockholders Equity | 23.28B | 24.56B | 22.26B | 20.63B | 12.45B | 3.87B |
Cash Flow | ||||||
| Free Cash Flow | -4.56B | -4.93B | -3.52B | -4.44B | -4.08B | -1.57B |
| Operating Cash Flow | 1.63B | 1.30B | 1.00B | -164.58M | -65.59M | -54.42M |
| Investing Cash Flow | -6.01B | -6.24B | -4.18B | -4.24B | -3.48B | -1.51B |
| Financing Cash Flow | -124.07M | 2.60B | 19.18M | 8.94B | 4.39B | 1.69B |
Aether Industries Ltd. Technical Analysis
Negative
946.75
Price Trends
1130.13
Negative
1045.91
Positive
913.79
Positive
Market Momentum
-17.51
Positive
34.53
Neutral
22.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AETHER, the sentiment is Negative. The current price of 946.75 is below the 20-day moving average (MA) of 1153.19, below the 50-day MA of 1130.13, and above the 200-day MA of 913.79, indicating a neutral trend. The MACD of -17.51 indicates Positive momentum. The RSI at 34.53 is Neutral, neither overbought nor oversold. The STOCH value of 22.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:AETHER.
Aether Industries Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹197.08B | 46.54 | ― | 0.20% | 27.28% | 76.63% | |
69 Neutral | ₹216.88B | 62.32 | ― | 0.08% | 90.04% | 79.07% | |
68 Neutral | ₹56.59B | 42.91 | ― | 1.26% | 16.66% | -16.99% | |
65 Neutral | ₹49.07B | 32.62 | ― | 0.21% | 2.34% | -9.30% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | ₹143.61B | 66.13 | ― | ― | 37.53% | 38.70% | |
51 Neutral | ₹112.47B | 49.76 | ― | 0.24% | 8.54% | 19.38% |
* Technology Sector Average
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Aether Industries Ltd. Corporate Events
Aether Industries Schedules May 15 Earnings Call for FY 2026 Results
May 11, 2026
Aether Industries Ltd. has announced that it will host an earnings conference call on Friday, May 15, 2026, from 6:00 p.m. onward to discuss its financial performance for the fourth quarter and full financial year ended March 31, 2026. The call, c...
Aether Industries Schedules Mumbai Meetings With Major Institutional Investors
Apr 4, 2026
Aether Industries has notified the stock exchanges that it will hold a series of investor meetings with company officials in Mumbai on April 10, 2026. The meetings, largely one-on-one and in physical mode, are scheduled with prominent institutiona...
Aether Industries Discloses Investor Meeting With Abakkus Investment Managers
Mar 20, 2026
Aether Industries Ltd. has disclosed that its officials held an in-person, one-on-one meeting and site visit with Abakkus Investment Managers on March 20, 2026, at the company’s premises. The company emphasized that discussions were restrict...
Aether Industries Details Compliance-Focused Investor Meeting With Invesco Mutual Fund
Mar 13, 2026
Aether Industries Limited has disclosed that its officials held an in-person, one-on-one meeting and site visit with Invesco Mutual Fund at the company’s premises on March 13, 2026. The company emphasized that only publicly available informa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.