In accordance with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the Transcript of the Earning Conference Call scheduled on Saturday, May 3, 2025, on the financial performance of the Company for the Fourth Quarter and Financial Year ended on March 31, 2025, is enclosed herewith.
AETHER · price
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Aether Industries reported strong FY25 results with consolidated revenue up 38% YoY to Rs. 8,803 million, EBITDA up 72% to Rs. 2,709 million (31% margin), and PAT up 92% to Rs. 1,584 million (18% margin). Q4 alone saw revenue of Rs. 2,453 million with EBITDA margin of 33% and PAT of Rs. 504 million, up 16% QoQ. Volumes grew 21% QoQ and 34% YoY with stable pricing. CRAMS and exclusive manufacturing (CEM) revenues grew 55% in FY25, now contributing ~48% of revenue vs. 51% from large-scale manufacturing (LSM). The company targets a 70:30 mix of CRAMS/CEM to LSM. Key site updates: Site-4 (Baker Hughes) generated ~Rs. 25 crore in Q4 with commercial supplies starting April 2025; Site-3++ is being dedicated to a CEM client with production expected by Q3 FY26; Site-5 in Panoli is expanding to 46 acres (additional land cost Rs. 420 million) with first two blocks commissioning by December 2025.
Strong financial performance with margin expansion and clear growth visibility through CRAMS/CEM contracts and site ramp-ups. CFO guided FY26 EBITDA margins at 29-30% (slightly below current 33%) but expected to grow as the higher-margin CRAMS mix expands. The Baker Hughes contract and Site-5 expansion are key positive catalysts, though US tariff exposure is minimal at 7%, providing insulation from global trade concerns.