Buy Aether Industries, target price Rs 1121: HDFC Securities

HDFC Securities has buy call on Aether Industries with a target price of Rs 1121.The current market price of Aether Industries is Rs 939.35.

Aether Industries, incorporated in the year 2013, is a Small Cap company (having a market cap of Rs 11363.47 Crore) operating in General sector.

Aether Industries key Products/Revenue Segments include Sale of services for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 170.53 Crore, up 16.35 % from last quarter Total Income of Rs 146.57 Crore and up 10.98 % from last year same quarter Total Income of Rs 153.66 Crore. Company has reported net profit after tax of Rs 35.04 Crore in latest quarter.

The company’s top management includes Mr.Kamalvijay Ramchandra Tulsian, Mr.Rajkumar Mangilal Borana, Dr.Amol Arvindrao Kulkarni, Mr.Leja Satish Hattiangadi, Mr.Jeevan Lal Nagori, Mr.Arun Brijmohan Kanodiya, Ms.Ishita Surendra Manjrekar, Mr.Purnima Ashwin Desai, Dr.Aman Ashvin Desai, Mr.Rohan Ashwin Desai, Mr.Ashwin Jayantilal Desai, Mr.Jitendra Popatlal Vakharia. Company has Birju S Shah & Associates as its auditors. As on 31-12-2022, the company has a total of 12 Crore shares outstanding.

Investment Rationale
HDFC Securities retains its BUY rating on Aether Industries, with a target price of INR 1,121given capacity expansion-led growth, advanced R&D capabilities, technocratic management, market leading position in most of its products, strong product pipeline, and marquee customer base.

Promoter/FII Holdings
Promoters held 87.07 per cent stake in the company as of 31-Dec-2022, while FIIs owned 1.56 per cent, DIIs 8.35 per cent.