History

_x000D_ Aether Industries Ltd. is based in Surat, Gujarat. It focuses on producing advanced intermediates and speciality chemicals. Their products find application in the pharmaceutical, agrochemical, material science, coating, high-performance photography, additive, and oil and gas segments of the_x000D_ _x000D_ chemical industry._x000D_ _x000D_ Aether Industries was incorporated in 2013, and by the end of the following year, they had developed their mobile app, AIRIS. The company was started with a vision to create a niche in the global chemical industry and follow a creative approach towards chemistry, technology and systems for sustainable growth. In the first phase of their development through FY 2017, they focused on building their team and infrastructure as well as the R&D for building their core competencies._x000D_ _x000D_ They commenced their revenue-generating operations in their second phase, starting in FY 2018. They are one of the fastest-growing speciality chemical companies in India, growing at a CAGR of nearly 44% between FY 2018-23. It commenced the construction of its two production facilities in 2015 and next year, the construction was complete and the production of 4MEP, its signature product, was launched. In 2018, its second signature product OTBN was launched too while the third product named BFA, was launched in 2021._x000D_ _x000D_ In 2020, it started building a solvent recovery plant. The company has successfully launched their IPO and got listed on June 3, 2022, on the stock exchanges in India. In July 2022, the company commissioned 16 MW solar power generation plant at Bharuch District, Gujarat to provide electricity to the currently operational manufacturing facilities, along with a greenfield project._x000D_

Business Segments

_x000D_ The company’s business segments are divided into the following categories:_x000D_

_x000D_
1. Pharmaceuticals - This is the largest business for Aether. In FY 2023, it covered 42.15% of the total revenue from products. However, its share used to be 59.5% in FY 2022.
_x000D_
2. Agrochemicals - This segment contributes 34.74% to the total revenue.
_x000D_
3. High-Performance Photography - This segment contributes  5.71% to the total pool.
_x000D_

_x000D_ There are a few other segments as well, such as Material Science, Coatings, Oil and Gas and food additives, each of which contributes less than 5% of the total amount._x000D_ _x000D_ Their sales of advanced intermediates and speciality chemicals products are predominantly conducted on a business-to-business basis, both in India and internationally. As of March 31, 2023, they sold their products_x000D_ _x000D_ to more than 50 global customers in 21 countries and to more than 230 domestic customers. Their customers include a rich collection of_x000D_ _x000D_ leading domestic and international multinational companies._x000D_ _x000D_ Subsidiaries_x000D_ _x000D_ The company has one wholly owned subsidiary named Aether Speciality Chemicals Limited. It focuses on the speciality chemicals business._x000D_

Key Personnel

_x000D_ Ashwin Desai, Founding Promoter_x000D_ _x000D_ Ashwin Desai founded Surat-based speciality chemicals maker Aether Industries in 2013. Desai's first entrepreneurial venture was a speciality chemicals business he co-founded with his brother-in-law in 1976._x000D_ _x000D_ Kamalvijay Ramchandra Tulsian, Chairman_x000D_ _x000D_ He has earlier been associated as a Designated Partner with J.R. Texturisers LLP, Navbharat Silk Mills LLP and Sankalp Paper Mills LLP. He has also been a Nominee-Body Corp Partner at Suryoday Dealcomm LLP and a Director at Surat Mega Textile Processing Park Association._x000D_

Corporate Actions

_x000D_ The company has no recorded bonus issue, buyback of shares, rights issue or stock split in recent times.