Aether Industries Limited IPO
i. Aether Industries Limited is a speciality chemical manufacturer in India focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies.
ii. The company is the sole manufacturer in India of chemicals such as 4-(2-Methoxyethyl) Phenol (4MEP), 3-Methoxy-2-Methylbenzoyl Chloride (MMBC), Thiophene-2-Ethanol (T2E), Ortho Tolyl Benzo Nitrile (OTBN), N-Octyl-D-Glucamine, Delta-Valerolactone and Bifenthrin Alcohol.
iii. The company has three business models under which it operates:
- large scale manufacturing of our own intermediates and speciality chemicals;
- contract research and manufacturing services (“CRAMS”) and
- contract/exclusive manufacturing.
iv. According to the F&S, they are
- the biggest manufacturer of 4MEP globally in terms of production volume and the only manufacturer of this product in India,
- the largest manufacturer of HEEP in India and globally in terms of production volume,
- the largest manufacturer of NODG globally in terms of production volume and the only manufacturer of this product in India and
- the biggest manufacturer of T2E globally in terms of production volume and the only manufacturer of this product in India.
v. Aether Industries has two manufacturing sites at Sachin in Surat, Gujarat. Manufacturing Facility 1 is a 3,500 square metre facility including R&D and Hydrogenation Facilities and Pilot Plant. Manufacturing Facility 2 encompasses roughly 10,500 square metres, with an installed capacity of 6,096 MT per year spread among three buildings and 16 production streams as of September 30, 2021.
vi. Competitive Strengths
- Differentiated portfolio of market-leading products.
- Focus on R&D to leverage the core competencies of chemistry and technology.
- Long-standing relationships with a diversified customer base.
- Synergistic Business Models focused on Large Scale Manufacturing, CRAMS and Contract Manufacturing.
- Focus on Quality, Environment, Health and Safety (QEHS).
- Strong and consistent financial performance.
- Experienced Promoters and Senior Management with extensive domain knowledge.
Objects of the Aether Industries Limited IPO:
Aether Industries Limited IPO Details:
|Open Date:||May 24 2022|
|Close Date:||May 26 2022|
|Issue Type:||Book Built Issue|
|Issue Size:||808.04 Cr.|
|Lot Size:||23 Shares|
|Issue Price:||₹ 610-642 Per Equity Share|
|Listing Date:||Jun 03 2022|
Promoters And Management:
Financials of Aether Industries Limited IPO:
|Particulars (in crores)||December-21||March 21||March 20||March 19|
|Revenue from operations||442||449||301||201|
|Cost of raw materials consumed||274||224||172||114|
|Changes in inventories||-59||5||-16||-4|
|Employee benefits expense||21||22||13||10|
|Profit (Loss) before tax||111||93||56||32|
|Profit (Loss) for the period||82||71||39||23|
|Earnings per share||6.83||5.9||3.25||1.91|
Comparison With Peers:
|Name of the Company||EPS (in Rs)||PE||PAT (In Cr.)||Mcap (in crores)|
|Aether Industries Limited||9||72||109||7704|
|Clean Science and Technology Limited||27.54||62.2||292||18242|
|Navin Fluorine International Limited||53.09||71||263||18676|
|Vinati Organics Limited||33.73||62.2||347||21561|
|PI Industries Limited||55.62||47.5||844||40058|