Page 126 - CW E-Magazine (28-1-2025)

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Q3FY25 RESULTS

Aether Industries reports strong growth as PAT

grows 25% QoQ and 149% YoY

Aether Industries Ltd., India’s lead- Revenue from operations for cialty Chemicals Ltd. This manufactur-
ing speciality chemical manufacturer 9MFY25 reached Rs. 5,985-mn, a 25% ing initiative leverages the advanced
focusing on advanced intermediates growth compared to 9MFY24. EBITDA capabilities of Aether Specialty Chemi-
and specialty chemicals, has announced rose to Rs. 1,525-mn, refl ecting a 32% cals, supported by its newly operational
strong growth across key metric in its increase year-on-year, with a margin Site 4, designed to meet the contract’s
unaudited consolidated fi nancial results improvement to 26% in 9MFY25 requirements. The amendment marks
for the quarter and nine months ended from 24% in 9MFY24. PAT surged to the commencement of commercialisa-
December 31, 2024. The company attri- Rs. 1,081-mn, recording a 29% growth tion activities at Site 4, a state-of-the-art
buted this to strategic business initia- over 9MFY24. facility that underscores Aether’s com-
tives and improved market conditions. mitment to providing innovative chemi-
Executes amendment to supply cal solutions tailored for global partners.
Revenue from operations stood agreement with Baker Hughes
at Rs. 2,197-mn, registering a 10.5% In another development, Aether The SSA with Baker Hughes, forma-
growth from Q2FY25, while EBITDA Industries has taken a signifi cant step lised in the USA, spans an initial
increased to Rs. 620-mn, a 23% growth forward in its collaboration with Baker term of 5 years, with provisions for
quarter-on-quarter, showcasing effi - Hughes by executing an amendment extension by three additional one-year
cient operational execution. Profi t to their Strategic Supply Agreement terms and subsequent yearly extensions
After Tax (PAT) climbed to Rs. 434-mn, (SSA), originally signed on June 25, thereafter. As per the terms of the agree-
refl ecting a 25% growth from Q2FY25 2024. The amendment was formalised ment, Aether Industries was to engage
with a strong PAT margin of 19%. on January 7, 2025. in contract manufacturing of six dis-
tinct products for Baker Hughes, mark-
“The cost optimisation and margin The updated agreement specifi es ing the fi rst production of these items
improvement initiatives contributed to volume and pricing details for the fi rst in India. These products are slated for
an increased EBITDA margin of 28%, two products, exclusively manufactured global distribution, with a notable
compared to 25% in Q2FY25,” the for Baker Hughes by Aether’s 100% emphasis on supplying the Indian
company said in a statement. wholly-owned subsidiary, Aether Spe- market’s oil and gas sectors.

MRPL fl ags off fi rst toluene parcel

Marking a signifi cant milestone in
the company’s journey towards achiev-
ing self-reliance in chemical produc-
tion, the fi rst truck parcel of toluene
from Mangalore Refi nery and Petro-
chemicals Ltd. (MRPL) was fl agged off
recently by Mr. Mundkur Shyamprasad
Kamath, Managing Director, MRPL,
at the Aromatic Complex within the (Refi nery), Mr. Yogish Nayak S, CFO, in industries such as pharmaceuticals,
Mangalore Special Economic Zone Ltd. and other senior offi cers of MRPL. chemicals, paints, and defence. India’s
(MSEZL). annual demand for toluene stands at
The launch of MRPL’s toluene pro- about 650-tmt, but domestic production
The event was graced by the pre- duct was recently offi ciated by the currently is about 160-tmt. MRPL’s addi-
sence of Mr. Nandakumar Velayudhan Minister of Petroleum and Natural Gas, tion of 40-tmt per year will help bridge
Pillai, Director (Refi nery), Mr. B.H.V. Mr. Hardeep Singh Puri, during his recent the gap, contributing to signifi cant for-
Prasad, Executive Director (Projects), visit to the refi nery. Toluene, a versatile eign exchange savings of approximately
Mr. B. Sudarshan, Executive Director aromatic hydrocarbon, plays a vital role $3-mn.

126 Chemical Weekly January 28, 2025

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