Slide 1: Cover letter to stock exchanges on financial results presentation
October 31, 2023 Ref. No.: AIL/SE/70/2023-24 To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Bandra (E), Mumbai-400001, MH. Mumbai-400051, MH. Scrip Code: 543534 Symbol: AETHER Dear Madam / Sir, Subject: Pr
Slide 2: Q2|H1 FY24
Q2|H1 FY24 October 31, 2023 AETHER.NS | 543534
Slide 3: Highlights
HIGHLIGHTS QIP Pilot Plant Expansion Funds raised from QIP, being utilised towards the objects as per Ordering of the machines and receipt of the equipment on-going, the PPD along with commissioning New Customers Site 3++ Expansion We have started business with 9 new customers during the Ground digg
Slide 4: Snapshot Q-o-Q and Y-o-Y
SNAPSHOT Q-o-Q Q-o-Q is comparison of Q2 FY24 with Q1 FY24 (INR MM) Revenue EBITDA PAT 1,793 612 34% 378 21% Q2FY24 9% 29% 25% 1,638 474 302 18% Q1FY24 29% Y-o-Y Y-o-Y is comparison of Q2 FY24 with Q2 FY23 1,793 612 34% 378 21% Q2FY24 22% 41% 39% 1,466 433 30% 272 19% Q2FY23 EBITDA and PAT, includin
Slide 5: Snapshot HFY-o-HFY
SNAPSHOT HFY-o-HFY HFY-o-HFY is comparison of 1HFY24 with 1HFY23 (INR MM) Revenue EBITDA PAT 3,431 1,085 32% 680 20% 1HFY24 10% 18% 18% 3,127 919 578 18% 1HFY23 29% EBITDA and PAT, including other income
Slide 6: Business Segments
BUSINESS SEGMENTS (INR MM) Large Scale 66% Manufacturing FY21 3,249 FY22 3,955 FY23 3,357 Advanced intermediates and speciality chemicals HFY24 2,144 with application across the industry spectrum Contract Research and Manufacturing 15% Services - CRAMS FY21 359 FY22 479 FY23 817 Contract research, s
Slide 7: Aether Today HFY24
AETHER TODAY REVENUE FROM OPERATIONS INR MM 31.5% Agro CAGR 44% 6,511 5,970 4,538 By Application 4.0% Multiple 3,038 3,252.76 Pharma 4.3% Photography 47.6% 2,033 5.9% Material Science 1,092 3.5% Coatings 1.3% Textiles FY18 FY19 FY20 FY21 FY22 FY23 HFY24 1.1% Oil & Gas 0.8% Food Additives EBITDA% 30.
Slide 8: Research and Development
RESEARCH AND DEVELOPMENT R&D has been critical to success and a differentiating factor vis-à-vis competitors Experts at helm of R&D / CRAMS Consistently rising R&D expenditure JUNE-23 SEPTEMBER-23 8.0% 262 270 6.6% 7.5% Highly qualified employees, Highly qualified employees, including including 4.3%
Slide 9: QIP Fund Utilisation
QIP FUND UTILISATION 1. Capital expenditure towards expansion of Site 3++ 2. Capital expenditure towards first phase of Site 5 3. Working Capital requirements due to new facility which has come up at Site 3 4. General Corporate Purpose funds utilised for various expansions in R&D, Pilot Plant and Si
Slide 10: Standalone Financial Results for Q2 and HFY24
STANDALONE FINANCIAL RESULTS FOR Q2 AND HFY24 INR MM Particulars Q2FY24 Q1FY24 Q2FY23 HFY24 HFY23 FY23 Unaudited Unaudited Unaudited Unaudited Unaudited Audited Revenue from operations 1,642 1,611 1,402 3,253 3,002 6,511 Other income 152 26 64 178 126 165 Total income 1,794 1,637 1,466 3,431 3,128 6
Slide 11: Standalone Statement of Assets and Liabilities as on September 30, 2023
STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS ON SEPTEMBER 30, 2023 INR MM HFY24 FY23 INR MM HFY24 FY23 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity Property, plant and equipment 5,819 5,334 Equity share capital 1,325 1,245 Capital work-in-progress 870 371 Other equity 19,135 11,201 I
Slide 12: Standalone Statement of Cash Flow
STANDALONE STATEMENT OF CASH FLOW AS ON SEPTEMBER 30, 2023 INR MM HFY24 FY23 Cash generated from operations 282 252 Net cash from operating activities 142 (66) Net cash (used in) investing activities (1,671) (3,484) Net cash used in financing activities 7,361 4,392 Net increase / (decrease) in cash
Slide 13: Why Aether?
WHY AETHER? The True Story R&D Driven Approach Growth Engines 1st Time In India [8 x 8] Matrix of chemistry/ Specialised R&D team Successfully launched 3 Most of our advanced technology competencies comprising 270 highly business models in 5 years intermediates and developed in-house, from quali ed
Slide 14: Site 3++
SITE 3++ Production of 3 to 5 Products upon commercialisation of the project Located diagonally opposite to the current Manufacturing Facility 2 in GIDC, Sachin, Surat, Gujarat, India Additional 3500 MT capacities approximately per annum will be added on commercialisation of the project July 2023 pr
Slide 15: Site 4
SITE 4 Dedicated to CEM upon commercialisation of the project Located within 200 meters of the current Manufacturing Facility 2 in GIDC, Sachin, Surat, Gujarat, India Aether Speciality Chemicals Limited 100% wholly owned subsidiary July 2023 Q4FY24 project initiation Expected to be commercialised Se
Slide 16: Site 5 - Panoli
SITE 5 S5 - Panoli 21° 32' 19.302" N, 73° 0' 11.34" E 125,874.64 sq. mtrs. / 31 acres (approximate) Acquired land in GIDC auction for future expansions 12 times the land bank of the current land at Site-2 Easy proximity to NH8 54 Kms drive from current locations in Surat Plot nos. 14 + 15, Panoli GI
Slide 17: Expansion of World's Largest Pilot Plant
EXPANSION OF WORLD’S LARGEST PILOT PLANT As of 03.08.23 56 reactors ⎸ SS-316, GLR, Hast-C, Ti / PFA coated ⎸ 500 to 6000 L ⎸ full vac. to 30 bar ⎸ -20 to 300 ℃ 10 batch / cont. distillation columns ⎸ SS-316, GLR, Hast-C ⎸ full vac. to 10 bar ⎸ 150 to 800 mm diam. ⎸ 24-100 stages Wiped film evaporato
Slide 18: Core Competencies 8x8
CORE COMPETENCIES Chemistry Technology Grignards and Continuous Reaction Organolithiations Batch Reaction Ethylene Oxide Chemistry High Pressure Reaction - Tandem Grignard / Fixed Bed Reaction Ethylene Oxide Chemistry Technology Cryogenic Reaction Isobutylene Chemistry High Vacuum Distillation Hydro
Slide 19: Product Selection
Sweet Spot PRODUCT SELECTION Core competencies of chemistry, technology and systems No active manufacturer in India, made for 1st time in India Minimum 4 step sequences of manufacturing and infrastructure oriented Generate adequate revenue at maturity Market leading position at product maturity Prod
Slide 20: Key Pillars
KEY PILLARS • Bachelor of Chemical Engineering • Bachelor of Chemical Technology - ICT from Institute of Chemical (UDCT, 2005), PhD in Organic Chemistry Technology (UDCT, 1974) from Michigan State University (USA, • Distinguished Alumni Award by 2010) UDCT (2010) • Prior to Aether, project leader in
Slide 21: Experienced Board
EXPERIENCED BOARD Kamalvijay Tulsian Jeevan Lal Nagori Leja Hattiangadi Dr. Amol Kulkarni Chairman, Non-Executive Non-Executive Independent Non-Executive Independent Non-Executive Director Director Director Independent Director Decades of experience in Experience 34 years in Decades of experience in
Slide 22: Business Development Leaders | SMP and KMP
BUSINESS DEVELOPMENT LEADERS | SMP AND KMP • Bachelor’s Science (Purdue • Diploma Physics and Doctorate Univ. USA) and PhD Organic of Natural Sciences (PhD), Chemistry (Univ. Wisconsin, Univ. Hannover (Germany) USA) • Decades of experience in • > 30 years at The Dow Chemical Industry Chemical Compan
Slide 23: Addition in Leadership Team
ADDITION IN LEADERSHIP TEAM • PhD Organic Chemistry – University of Rochester • >20 years Eastman Kodak – Worldwide Director of Process Development & Manufacturing • 7 years Senior VP Novomer, Inc.; CO2 Polyol Technology acquired by Saudi Aramco 2016 • 7 years with Saudi Aramco; President & CEO Aram
Slide 24: Select Marquee Customer Base | Domestic and Global
SELECT MARQUEE CUSTOMER BASE | DOMESTIC AND GLOBAL Pharmaceutical Oil and Gas Textiles High performance photography Material Science | Coatings Agrochemical Other Sectors TOSOH FineChem
Slide 25: Health and Safety, Certifications
QEHS Health and Safety ISO 9001 INDIAN GMP • Undertaking hazard and operability studies before for Quality for Manufacturing commencing commercial production of new products • Dedicated team of safety personnel • Mobile application for safety and emergencies ISO 45001 UN GLOBAL COMPACT • Modern fire
Slide 26: QEHS
QEHS Quality Environment High standards of quality for products Vibrant infrastructure installed for environment and sustainability efforts To cover To ensure • 100 KLPD in-house zero liquid discharge (ZLD) plant • Triple stage multiple effect evaporator (MEE) • Mechanical vapour recompression (MVR)
Slide 27: Environmental Social Governance
ENVIRONMENTAL SOCIAL GOVERNANCE Environmental Social Governance • Adoption of the green chemistries or • Focused on: • Technically sound and extensively more accurately sustainable chemistry - Education experienced Board members since inception. - Life Saving measures • Transparency and accountabili
Slide 28: Forward-looking statements disclaimer
Certain statements and opinions with respect to the anticipated future performance of the company in the presentation (“forward - looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be correct. Such forward -lo