The company operates through three business segments: Large Scale Manufacturing (59%), Contract Manufacturing (26%), and CRAMS (14%). Aether began operations at Manufacturing Site 3 in Gujarat on February 22, 2026, expected to enhance production and revenue. The company targets 70% revenue from CRAMS and CEM in the future.
Cyborg Score Rationale
Q3 FY26 reported 44% YoY revenue growth to INR 3,171M, with EBITDA up 75% and PAT increasing 49%. The company is almost debt free. Guides sustainable EBITDA margin of 29-30% post Q3 FY2026.
US tariff reduction from 50% to 18% under 2026 trade deal boosts Indian chemical exports; Aether positioned as a beneficiary
Aether is sole manufacturer in India of 4MEP, MMBC, T2E, OTBN, NODG, DVL and Bifenthrin Alcohol; largest global manufacturer by volume for 4MEP, T2E, NODG, and HEEP
Company added 5 marquee clients and introduced 3 new products; targets 70% revenue from high-margin CRAMS/CEM segments
Named Competitors
Specialty Chemicals — Indian specialty chemical manufacturer competing in pharmaceutical and agro-chemical intermediates
Specialty Chemicals & CRAMS — Contract research and manufacturing services provider in specialty chemicals
Recent Developments
(February 2026) Manufacturing Site 3 operations commenced in Gujarat