Synopsis:
Shares of a specialty chemical firm dipped 1.4% after a bulk stake sale by Goldman Sachs. Despite this, the company shows strong growth, diversified operations, an expanding client base, a strategic sector mix, and significant FY26 capex for high-value manufacturing and R&D initiatives.
The shares of the prominent chemical manufacturing company fallen up to 1.4 percent in today’s trading session after Goldman Sachs offloaded 11.51 lakh equity shares in the company via a bulk deal.
With a market capitalization of Rs 9,931.01 crore, the shares of Aether Industries Ltd were trading at Rs 748.20 per share, decreasing around 0.37 percent as compared to the previous closing price of Rs 750.95 apiece.
Bulk deals
According to the exchange, Goldman Sachs FDS Goldman Sachs India EQ Portfolio sold 11.51 lakh shares, which is equivalent to a 0.86 percent stake at Rs 735.01 per share, amounting to Rs 84.6 crore. Meanwhile, Amansa Holdings, a Singapore-based investment management firm, has acquired 12.8 lakh shares (0.96 percent stake) in Aether Industries at Rs 735 per share for Rs 94.27 crore.
Financial & operational Highlights
The company demonstrated strong quarterly growth, with revenue rising 19 percent to Rs 214 crore and net profit surging 33 percent to Rs 40 crore. The faster profit growth relative to revenue suggests improved operational efficiency, effective cost management, and enhanced profitability, reflecting healthy business performance and positive momentum.
The company’s business model is diversified, with Large-Scale Manufacturing contributing 51% of sales, Contract/Exclusive Manufacturing (CEM) 37%, and CRAMS 10%. LSM showed steady 9% YoY and 8% QoQ growth, while CEM is poised for strong expansion, supported by Baker Hughes ramp-up and the upcoming Milliken contract, indicating balanced, growth-driven operations.
The company expanded its client base with six new additions, achieving a diversified sectoral mix: Pharma & Agro 46%, Oil & Gas 19%, Material Science 17%. Management targets balanced revenue across Pharma/Agro, Oil & Gas, Material Science, and Sustainability/Renewables, signaling strategic focus on broad-based growth and reduced sectoral dependency.
The company plans a FY26 capex of ₹350 crore, allocated across R&D, Site 3++, and Site 5/Panoli. Site 3+ (Milliken) begins production in Q4 FY26 with ₹200–250 crore capitalization. Site 5’s two blocks, launching by Q3 FY26, will cater to LSM and CEM, introducing high-value products in India, targeting 1.75x asset turn at maturity.
Aether Industries is a specialty chemical company from Surat, India, focused on producing advanced intermediates using complex and differentiated chemistry and technology. The company was founded with a vision to create a niche in the global chemical industry through a creative and sustainable approach. The company heavily invests in cutting-edge research, with its R&D spending accounting for 15.42% of total revenue in fiscal year 2024.
Written by Abhishek Singh
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