homebusiness Newscompanies NewsAether Industries sees a lot of opportunities in contract research and manufacturing
Aether Industries sees a lot of opportunities in contract research and manufacturing
Aether Industries results: Aman Desai, Founder and Director of Aether Industries said that the company expects to see a lot of opportunities in the CRAMS segment. Aether Industries' revenue jumped seven percent to Rs 160 crore year-on-year, while profit after tax (PAT) fell six percent to Rs 30 crore. Aether Industries' order book as of June 30, 2022, stood at Rs 246 crore, while export revenues surged 17 percent YoY to Rs 111 crore.
Aether Industries' revenue growth is tepid at just seven percent for the April-June quarter while the margin came in weak, contracting to around 26 percent from the 30 percent the specialty chemical manufacturer had posted last year. Aether Industries' founder and director Aman Desai, however, is seeing a lot of opportunities in contract research and manufacturing services (CRAMS).
“In the CRAMS market, we are seeing a tremendous influx of opportunities as we had always foreseen in a post-COVID-19 era, where the countries and companies are opening up, and external programs are being started, and so we see that effect also coming in the Q3 and Q4 of this year,” Desai told CNBC-TV18.
Desai expects the revenue in the third and final quarter to get a boost once the firm's new Greenfield manufacturing site plant starts production.
“We expect Q1 and Q2 of the current fiscal year with a softening effect, but in Q3 and Q4, we have the new Greenfield manufacturing site coming up, which is on track and to be commissioned by the end of this calendar year, and so we will see the reasonable significant brunt of revenues from it coming in the last quarter of this fiscal year,” Desai added.
Also Read: Aether Industry says R&D to be the growth engine of the co; aims to maintain margins around 30%
On growth, he said that the company is currently focusing on organic growth and discussions about inorganic growth are happening at a very small scale.
Aether Industries' revenue jumped seven percent to Rs 160 crore year-on-year, while profit after tax (PAT) fell six percent to Rs 30 crore. Aether Industries' order book as of June 30, 2022, stood at Rs 246 crore, while export revenues surged 17 percent YoY to Rs 111 crore.
Aether Industries is a specialty chemical manufacturer and produces intermediaries and specialty chemicals to clients in the pharma, agrochemical, material science and coating sectors. Pharma gives its bulk of clients with a share at 63 percent, while Agrochemicals contribution is 23 percent.
For the entire interview, watch the accompanying video
First Published: Aug 22, 2022 2:39 PM IST
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