Aether Industries Ltd. · NSE:AETHER
Aether Industries — Q2 FY27 Earnings Presentation
22 slides from Aether Industries's earnings presentation, Oct 30, 2026
Slide 1: Presentation on Financial Results cover letter to exchanges
October 30, 2026 Ref. No.: AIL/SE/41/2026-27 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 FY27
Q2/H1 FY27
Slide 3: Business Models Q2 FY27
Business Models Q2 FY27 57% 9% 33% Contract | Exclusive Contract Research & Large Scale Manufacturing Manufacturing Services Manufacturing 28% 14% 56% Q2FY25 ₹561 ₹276 ₹1120 48% 9% 41% Q2FY26 ₹1313 ₹251 ₹1,139 Q2FY27 ₹1,970 ₹311 ₹1,153 CEM and CRAMS contribute 66% of revenue, to achieve 70% in next
Slide 4: Highlights for the Quarter
Highlights for the Quarter SITE 3++ SITE 5 ACCOMPLISHED 11 commercial production started and Phase One - 2 production blocks - customer & certi cation audits, ramp up ongoing commercial operation began in Q1 FY27 proving operational excellence in Q2 FY27 R&D EXPANSION 6 NEW CUSTOMERS TEAM STRUCTURE
Slide 5: Aether Today
54.3% CEM Aether Today 36.1% LSM Revenue 9.2% CRAMS 0.4% Others By Business FY18 ₹1,092 FY19 ₹2,033 FY20 ₹3,038 FY21 ₹4,541 H1 FY27 FY22 ₹5,970 57.6% Domestic 42.4% Exports # FY23 ₹6,676 FY24 ₹6,374 FY25 ₹8,803 By Region FY26 FY26 ₹11,811 HFY27 ₹6,738 * FY24 - re accident reduced Revenue, EBITDA, an
Slide 6: Operating Revenue Q2 FY27 ₹3,472 M
Operating Revenue Q2 FY27 Q1 FY27 Q2 FY26 ₹3,472 M ₹3,266 M +24% Y/Y Scale up of CEM Contracts LSM Business Model contribution being led by Pricing ₹2,801 M (Consolidated Numbers) | All numbers in INR M
Slide 7: EBITDA Q2 FY27 ₹1,104 M
EBITDA Q2 FY27 Q1 FY27 Q2 FY26 31.8% ₹1,104 M ₹1,028 M 31.5% +29% Y/Y Pivot of business model towards CRAMS & CEM Contracts leading to strong operating income & margin growths 30.5% ₹853 M (Consolidated Numbers) | All numbers in INR M
Slide 8: Profit After Tax Q2 FY27 ₹680 M
Pro t After Tax Q2 FY27 Q1 FY27 Q2 FY26 19.3% ₹680 M ₹627 M 18.8% +26% Y/Y Improved pro tability with a shift in segment mix 18.7% ₹540 M (Consolidated Numbers) | All numbers in INR M fi fi
Slide 9: Strong Financial Performance H1 FY27
Strong Financial Performance H1 FY27 HFY/HFY H1 FY26 OPERATING REVENUE ₹6,738 +27% ₹5,312 31.6% 30.8% EBITDA ₹2,132 +30% ₹1,634 19.0% 18.6% PAT ₹1,307 +29% ₹1,010 • Strong nancial performance being led by CEM and CRAMS business models • Strong traction with customers across different sectors (Consol
Slide 10: Segment Contributions Q2 FY27
Segment Contributions 33.4% Oil & Gas 18.8% Oil & Gas 26.6% Pharmaceuticals 36.6% Pharmaceuticals 17.9% Material Science 19.4% Material Science 7.9% Agrochemicals 13.3% Agrochemicals 6.5% Multiple 5.6% Multiple 4.0% High Performance Photography 4.2% High Performance Photography 2.1% Sustainability &
Slide 11: Segment Contributions H1 FY27
Segment Contributions 32.4% Oil & Gas 19.0% Oil & Gas 29.3% Pharmaceuticals 35.8% Pharmaceuticals 17.9% Material Science 18.2% Material Science 8.6% Agrochemicals 12.2% Agrochemicals 5.2% Multiple 5.4% Multiple 3.6% High Performance Photography 5.7% High Performance Photography 1.9% Sustainability &
Slide 12: R&D - Centric Approach
R&D - Centric Approach ₹406.01 M spent towards R&D accounting for 6.03% of revenue from operations in HFY27. R&D Expansion on track - (1) 18 fume hoods installed (2) New R&D Building construction on track FY22 6.6% FY24 15.4%* FY20 4.0% FY26 7.3% FY23 7.5% FY25 7.7% FY19 2.6% FY21 4.3% * FY24 - re a
Slide 13: Catalyst / Site 1 (R&D Expansion - Current Picture)
Name: Catalyst / Site - 1 (R&D Expansion - Current Picture) Ground levelling work completed commenced building construction and expected to be completed by Q1FY28.
Slide 14: Catalyst / Site 1 (The future)
Name: Catalyst / Site - 1 (The future) Proposed Site - Catalyst | Site - 1
Slide 15: Magnum / Site 5 (Current Picture)
Site: Magnum / Site - 5 (Current Picture) Phase 1 - Two production blocks commissioned with pharma LSM product. Equipment installation for the other two production blocks being completed for semiconductor and agrochemicals CEM contracts to be commissioned in Q4FY27 onwards. Strong visibility for the
Slide 16: Consolidated Financial Results
Consolidated Financial Results Q2FY27 Q1FY27 Q2FY26 H1 FY27 H1 FY26 FY26 Unaudited Unaudited Unaudited Unaudited Unaudited Audited Particulars (INR in MM) Revenue from operations 3,472 3,266 2,801 6,738 5,312 11,601 Other income 51 77 87 128 113 209 Total income 3,523 3,342 2,888 6,865 5,425 11,811
Slide 17: Consolidated Statement of Assets and Liabilities
Consolidated Statement of Assets and Liabilities H1 FY27 FY26 H1 FY27 FY26 ASSETS EQUITY AND LIABILITIES Unaudited Audited Unaudited Audited Non-current assets Equity Property, plant and equipment 12,407 12,362 Equity share capital 1,327 1,327 Capital work-in-progress 7,052 5,061 Other equity 24,610
Slide 18: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows H1 FY27 FY26 H1 FY26 Particulars Unaudited Audited Unaudited Cash generated from operations 432 1,966 1,541 Net cash generated from operating activities (A) 333 1,424 1,254 Net cash (used in) investing activities (B) (2,429) (6,194) (3,156) Net cash generated fro
Slide 19: Standalone Financial Results
Standalone Financial Results Q2FY27 Q1FY27 Q2FY26 H1 FY27 H1 FY26 FY26 Unaudited Unaudited Unaudited Unaudited Unaudited Audited Particulars (INR in MM) Revenue from operations 2,745 2,565 2,297 5,310 4,391 9,402 Other income 47 99 97 145 128 215 Total income 2,792 2,664 2,394 5,455 4,519 9,617 Cost
Slide 20: Standalone Statement of Assets and Liabilities
Standalone Statement of Assets and Liabilities H1 FY27 FY26 H1 FY27 FY26 ASSETS EQUITY AND LIABILITIES Unaudited Audited Unaudited Audited Non-current assets Equity Property, plant and equipment 11,569 11,499 Equity share capital 1,327 1,327 Capital work-in-progress 6,638 4,742 Other equity 23,839 2
Slide 21: Standalone Statement of Cash Flows
Standalone Statement of Cash Flows H1 FY27 FY26 H1 FY26 Particulars Unaudited Audited Unaudited Cash generated from operations 371 1,921 1,648 Net cash generated from operating activities (A) 327 1,463 1,389 Net cash (used in) investing activities (B) (2660) (5,903) (3,444) Net cash generated from /
Slide 22: Chemistry that challenges, Innovation that delivers
Chemistry that challenges Innovation that delivers - Aether All rights reserved. Aether and the Aether logo are trademarks of Aether Industries Limited, registered in India Registered Of ce - Plot No. 8203, GIDC Sachin, Surat - 394230, Gujarat, India | Board Line: +91-261-6603000 | Email ID: info@ae