India · Delayed Price · Currency is INR Aether Industries Earnings Call Transcripts
Fiscal Year 2026
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Revenue and profit grew strongly year-on-year, driven by robust performance across all business segments and new client additions. Major site expansions and R&D investments are underway, with a focus on non-pharma sectors and strategic global partnerships.
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Q2 FY 2026 saw 38% revenue growth and 70% EBITDA growth year-over-year, with CEM and CRAMS now over 50% of sales. CapEx and R&D expansions are on track, supporting a 25% annual growth outlook and sustainable 29%-31% EBITDA margins.
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Q1 FY26 revenue grew 35% year-on-year, with strong EBITDA and PAT margin expansion. Major new contracts, ongoing CapEx, and robust demand in large-scale and contract manufacturing support a positive outlook, while India benefits from global supply chain shifts.
Fiscal Year 2025
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Q4 and FY25 saw robust volume and revenue growth, with margins expanding on the back of strong CRAMS and CEM performance. Expansion projects and R&D investments are progressing, while working capital and return ratios improved. Outlook remains positive with stable margins and a diversified revenue mix.
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Q3 FY25 saw double-digit revenue and profit growth, margin expansion, and strong volume gains. Major capacity expansions, new product launches, and strategic partnerships are set to drive future growth, with a focus on sustainability and improved working capital cycles.
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Q2 FY25 saw 9% QoQ revenue growth and margin improvement despite Chinese pricing pressure. Capacity utilization and new client additions were strong, with major CapEx and sustainability initiatives progressing. Margins and pricing are expected to improve from Q4 FY25.
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Q1 FY25 saw strong volume growth and margin recovery, with revenue up 49% sequentially and EBITDA margin rising to 23%. Delays from a site accident shifted some project timelines, but major expansions and new strategic agreements, especially with Baker Hughes, are set to drive growth in coming quarters.