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Last Updated: April 2, 2026, 4:01 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 543534 | NSE: AETHER

Aether Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹845.45Overvalued by 24.24%vs CMP ₹1,116.00

P/E (79.5) × ROE (7.5%) × BV (₹174.00) × DY (2.00%)

₹347.24Overvalued by 68.89%vs CMP ₹1,116.00
MoS: -221.4% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹903.5322%Over (-19%)
Graham NumberEarnings₹229.7316%Over (-79.4%)
Earnings PowerEarnings₹67.1213%Over (-94%)
DCFCash Flow₹185.0313%Over (-83.4%)
Net Asset ValueAssets₹174.187%Over (-84.4%)
EV/EBITDAEnterprise₹189.559%Over (-83%)
Earnings YieldEarnings₹134.807%Over (-87.9%)
ROCE CapitalReturns₹470.279%Over (-57.9%)
Revenue MultipleRevenue₹59.475%Over (-94.7%)
Consensus (9 models)₹347.24100%Overvalued
Key Drivers: Wide model spread (₹59–₹904) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 6.9%

*Investments are subject to market risks

Investment Snapshot

64
Aether Industries Ltd scores 64/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health65/100 · Strong
ROCE 9.9% AverageROE 7.5% AverageD/E 0.73 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money85/100 · Strong
FII holding up 2.48% (6mo) AccumulatingDII holding up 0.82% MF buyingPromoter holding at 75.0% Stable
Earnings Quality40/100 · Moderate
OPM stable around 26% SteadyWorking capital: 276 days Capital intensive
Quarterly Momentum100/100 · Strong
Revenue (4Q): +33% YoY AcceleratingProfit (4Q): +63% YoY StrongOPM: 36.0% (up 6.0% YoY) Margin expansion
Industry Rank40/100 · Moderate
P/E 79.5 vs industry 64.9 In-lineROCE 9.9% vs industry 13.0% AverageROE 7.5% vs industry 25.4% Below peers3Y sales CAGR: 10% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:01 am

Market Cap 14,807 Cr.
Current Price 1,116
Intrinsic Value₹347.24
High / Low 1,250/723
Stock P/E79.5
Book Value 174
Dividend Yield0.00 %
ROCE9.92 %
ROE7.49 %
Face Value 10.0
PEG Ratio11.57

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Aether Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Aether Industries Ltd 14,807 Cr. 1,116 1,250/72379.5 1740.00 %9.92 %7.49 % 10.0
Aarti Industries Ltd 14,917 Cr. 411 495/33840.2 1580.24 %6.32 %6.03 % 5.00
Anupam Rasayan India Ltd 14,532 Cr. 1,276 1,407/68684.5 2810.06 %7.33 %3.32 % 10.0
Clean Science & Technology Ltd 7,439 Cr. 700 1,600/65230.3 1410.86 %27.3 %20.2 % 1.00
Himadri Speciality Chemical Ltd 22,545 Cr. 447 534/35131.9 80.60.13 %22.0 %16.4 % 1.00
Industry Average12,530.04 Cr712.4964.87182.870.55%12.98%25.40%6.41

All Competitor Stocks of Aether Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 167184161164155115180196197215214230257
Expenses 120124116118124106137142138147146158165
Operating Profit 4760454631943556067697292
OPM % 28%32%28%28%20%8%24%28%30%31%32%31%36%
Other Income 31315669911317-2
Interest 0112243232323
Depreciation 67910101010111012131516
Profit before tax 4452375025240525756536272
Tax % 20%28%18%24%25%40%24%26%29%23%24%29%28%
Net Profit 3538303819130384143404452
EPS in Rs 2.813.022.282.851.440.082.282.873.083.243.033.293.92

Last Updated: March 3, 2026, 12:59 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 4:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 01024109201302450590651596789916
Expenses 1312285154230338422465464563616
Operating Profit -1-2-12234872112168186131225299
OPM % -252%-194%10%21%24%24%25%28%29%22%29%33%
Other Income 3410022471730329
Interest 110191191113591010
Depreciation 0001568111523394355
Profit before tax 00019335794146174114205242
Tax % 39%27%31%300%17%28%29%24%26%25%23%26%
Net Profit 000-1823407110913088152179
EPS in Rs 0.140.120.11-1.279.0827.2746.6870.439.6710.476.6511.4713.48
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)900.00%187.50%73.91%77.50%53.52%19.27%-32.31%72.73%
Change in YoY Net Profit Growth (%)0.00%-712.50%-113.59%3.59%-23.98%-34.26%-51.57%105.03%

Aether Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2017-2018 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:98%
5 Years:21%
3 Years:10%
TTM:34%
Compounded Profit Growth
10 Years:57%
5 Years:32%
3 Years:14%
TTM:73%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:-6%
1 Year:-20%
Return on Equity
10 Years:12%
5 Years:11%
3 Years:8%
Last Year:7%

Last Updated: September 5, 2025, 2:06 pm

Balance Sheet

Last Updated: December 10, 2025, 3:45 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 9934999910113125133133133
Reserves 000-1730701642741,1201,9362,0932,178
Borrowings 40355311112612617221129116144137165
Other Liabilities 11-21191842506792120143199275
Total Liabilities 5045651371592073004537701,3802,3562,5612,750
Fixed Assets 211561001061292162576467439891,068
CWIP 7204240211705837219340529
Investments 16800000221710100100
Other Assets 2515214156991542144386951,3931,1331,052
Total Assets 5045651371592073004537701,3802,3562,5612,750

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -1-3-6-96231823-5-7-2118
Cash from Investing Activity + -332-14-48-11-13-48-77-151-348-399-415
Cash from Financing Activity + 47-617574-103355169439854-19
Net Cash Flow 13-8-3-1-00221284453-316
Free Cash Flow -10-16-29-63-510-30-53-157-363-305-304
CFO/OP 69%157%994%-400%26%60%43%39%17%14%12%69%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-41.00-37.00-54.00-109.00-103.00-78.00-100.00-99.00-123.00170.00-13.0088.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 944,35816788877688101145141122
Inventory Days 529,733629149133166141221301411377
Days Payable 1721,922575927688829599113111
Cash Conversion Cycle -2512,169220144144153147227348439388
Working Capital Days -7949,037-184911323682268360276
ROCE %-1%-0%2%14%28%32%33%30%18%8%10%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 87.07%81.80%81.80%81.79%81.79%81.79%81.78%81.77%81.77%74.99%74.99%74.98%
FIIs 1.57%1.87%2.44%1.97%2.22%2.90%3.17%3.32%3.33%5.03%4.64%5.81%
DIIs 8.39%13.65%12.99%11.79%11.82%11.55%11.63%11.49%11.43%13.41%12.97%12.25%
Public 2.98%2.67%2.76%4.44%4.16%3.74%3.40%3.41%3.47%6.55%7.39%6.96%
No. of Shareholders 53,45655,20860,46684,00078,65571,68367,25166,67764,03472,62873,80667,806

Shareholding Pattern Chart

No. of Shareholders

Aether Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Conservative Hybrid Fund 10,304 1.06 103001,030,0002026-03-31 01:33:30-99%
SBI Multicap Fund 4,000,000 1.67 383.441,590,2202025-11-03 04:24:09151.54%
SBI MNC Fund 2,414,314 3.96 231.442,580,0262026-03-24 01:02:15-6.42%
SBI Childrens Fund - Investment Plan 1,900,000 3.4 182.13N/AN/AN/A
SBI Healthcare Opportunities Fund 1,400,000 3.29 134.21,400,0002025-04-22 17:25:140%
SBI Childrens Fund - Savings Plan 130 0.98 13013,0002026-03-24 01:02:16-99%
Edelweiss Small Cap Fund 645,867 1.13 61.91N/AN/AN/A
HDFC Business Cycle Fund 545,188 1.97 52.26674,4102026-02-23 03:02:08-19.16%
Edelweiss Large & Mid Cap Fund 517,371 1.11 49.6N/AN/AN/A
Invesco India Smallcap Fund 383,495 0.38 36.76303,4952026-03-24 01:02:1626.36%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22
FaceValue 10.0010.0010.0010.00
Basic EPS (Rs.) 11.956.3110.479.67
Diluted EPS (Rs.) 11.946.3110.479.67
Cash EPS (Rs.) 15.349.2112.3411.04
Book Value[Excl.RevalReserv]/Share (Rs.) 167.88155.6699.9634.33
Book Value[Incl.RevalReserv]/Share (Rs.) 167.88155.6699.9634.33
Revenue From Operations / Share (Rs.) 63.2545.1352.2952.36
PBDIT / Share (Rs.) 21.3312.9416.2915.54
PBIT / Share (Rs.) 17.939.9414.4214.16
PBT / Share (Rs.) 16.068.2614.0113.00
Net Profit / Share (Rs.) 11.956.2210.479.67
NP After MI And SOA / Share (Rs.) 11.956.2210.479.67
PBDIT Margin (%) 33.7128.6631.1529.67
PBIT Margin (%) 28.3522.0327.5827.04
PBT Margin (%) 25.3918.3026.7924.82
Net Profit Margin (%) 18.8813.7920.0318.46
NP After MI And SOA Margin (%) 18.8813.7920.0318.46
Return on Networth / Equity (%) 7.113.9910.4728.15
Return on Capital Employeed (%) 10.366.2413.9630.24
Return On Assets (%) 5.993.439.4514.14
Long Term Debt / Equity (X) 0.000.000.000.31
Total Debt / Equity (X) 0.080.080.000.73
Asset Turnover Ratio (%) 0.330.310.600.00
Current Ratio (X) 3.254.517.181.69
Quick Ratio (X) 2.113.324.541.02
Inventory Turnover Ratio (X) 2.271.271.840.00
Interest Coverage Ratio (X) 21.8720.1339.8213.34
Interest Coverage Ratio (Post Tax) (X) 14.1712.3026.619.30
Enterprise Value (Cr.) 10957.019960.4811572.590.00
EV / Net Operating Revenue (X) 13.0616.6517.770.00
EV / EBITDA (X) 38.7458.0957.060.00
MarketCap / Net Operating Revenue (X) 13.1317.3017.930.00
Price / BV (X) 4.955.019.380.00
Price / Net Operating Revenue (X) 13.1317.3017.930.00
EarningsYield 0.010.010.010.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Aether Industries Ltd. is a Public Limited Listed company incorporated on 23/01/2013 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L24100GJ2013PLC073434 and registration number is 073434. Currently Company is involved in the business activities of Manufacture of basic chemicals. Company's Total Operating Revenue is Rs. 788.52 Cr. and Equity Capital is Rs. 132.59 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Chemicals - Speciality - OthersPlot No. 8203, Surat Gujarat 394230Contact not found
Management
NamePosition Held
Mr. Kamalvijay Ramchandra TulsianChairman & Non-Exe.Director
Mr. Ashwin Jayantilal DesaiManaging Director
Mr. Rohan Ashwin DesaiWhole Time Director
Dr. Aman Ashvin DesaiWhole Time Director
Ms. Purnima Ashwin DesaiWhole Time Director
Ms. Ishita Surendra ManjrekarNon Executive Director
Mr. Arun Brijmohan KanodiyaInd. Non-Executive Director
Mr. Jeevan Lal NagoriInd. Non-Executive Director
Mr. Leja Satish HattiangadiInd. Non-Executive Director
Dr. Amol Arvindrao KulkarniInd. Non-Executive Director
Mr. Rajkumar Mangilal BoranaInd. Non-Executive Director
Mr. Jitendra Popatlal VakhariaInd. Non-Executive Director

FAQ

What is the intrinsic value of Aether Industries Ltd and is it undervalued?

As of 14 April 2026, Aether Industries Ltd's intrinsic value is ₹347.24, which is 68.89% lower than the current market price of ₹1,116.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (7.49 %), book value (₹174), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Aether Industries Ltd?

Aether Industries Ltd is trading at ₹1,116.00 as of 14 April 2026, with a FY2026-2027 high of ₹1,250 and low of ₹723. The stock is currently in the middle of its 52-week range. Market cap stands at ₹14,807 Cr..

How does Aether Industries Ltd's P/E ratio compare to its industry?

Aether Industries Ltd has a P/E ratio of 79.5, which is above the industry average of 64.87. The premium over industry average may reflect growth expectations or speculative interest.

Is Aether Industries Ltd financially healthy?

Key indicators for Aether Industries Ltd: ROCE of 9.92 % is on the lower side compared to the industry average of 12.98%; ROE of 7.49 % is below ideal levels (industry average: 25.40%). Dividend yield is 0.00 %.

Is Aether Industries Ltd profitable and how is the profit trend?

Aether Industries Ltd reported a net profit of ₹152 Cr in Mar 2025 on revenue of ₹789 Cr. Compared to ₹109 Cr in Mar 2022, the net profit shows an improving trend.

Does Aether Industries Ltd pay dividends?

Aether Industries Ltd has a dividend yield of 0.00 % at the current price of ₹1,116.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Aether Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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