India · Delayed Price · Currency is INR Aether Industries Earnings Call Transcripts
Fiscal Year 2026
-
Revenue grew 38% year-over-year in FY 2026, with strong pricing and robust demand despite global disruptions. Major R&D and manufacturing expansions are underway, targeting a shift to 70% revenue from CRAMS and CM by FY 2030, while margins and cash flows remain healthy.
-
Q3 FY26 saw 44% revenue growth and 75% EBITDA growth year-over-year, driven by strong performance across all business segments and major capacity expansions. Outlook remains robust with new contracts, R&D investments, and a focus on non-pharma sectors, while sustainable EBITDA margins are guided at 29-30%.
-
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.
-
Q1 FY 2026 delivered 35% revenue growth and 92% EBITDA growth year-on-year, driven by strong LSM demand, new client additions, and a major contract with Milliken. CapEx and R&D expansions are on track, with robust sector diversification and improved working capital metrics.
Fiscal Year 2025
-
Q4 and FY25 saw robust volume and revenue growth, margin expansion, and a strategic shift toward CRAMS and CEM, now nearly half of revenue. Expansion projects and R&D investments are progressing, with improved working capital and return ratios.
-
Q3 FY25 saw strong revenue and margin growth, driven by higher volumes, new client additions, and operational recovery at Site 2. Expansion projects and strategic contracts, especially with Baker Hughes and Saudi Aramco, are set to boost future revenues and margins.
-
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.
-
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.